NEW ZEALAND FINANCE.

Stratford Evening Post, Volume XXVII, Issue 100, 30 April 1915, Page 6

NEW ZEALAND FINANCE.

LONDON LOAN ADMITTED. PUBLIC WORKS ARRANGED FOR SIX MONTHS. Per Press Association, Dunedin, April 30. Regarding the Daily Mail’s reference to the raising of a New Zealand loan, on the London market, Mr Allen (Minister of Finance), made the following statement to a reporter: “The Treasury’s approval has .been given for a small loan of £200,000 to pay the loan (Coming due, which had to be met; that is the extent of our financial obligations. It is a four per cent, inscribed stock loan, and must be raised so that it will cost the Dominion, after provision lor discounts, discharge, and redemption charges, at the rate of £4 10s 5d per annum. This is a very favorable transaction. The public need only look at the rates which other countries have been paying for money.” Questioned as to the comparative positions, Mr Allen remarked that he desired, without any spirit of boasting, to say that New Zealand stands upon tiie London market to-day in a sounder position than any other part of the Empire, the situation regarding internal finance is, Mr Allen Stated, fairly satisfactory. It has taken a long time to- get (hit the balances for the financial year, and the actual result is not available, but be is satisfied the public may rest assured that when the results are made known, the position will be very satisfactory. Financial arrangements have been made for a steady carrying on of public works for six months. |