NEW ZEALAND’S DEBT.

Taihape Daily Times, Volume XI, Issue 3456, 9 April 1920, Page 7

NEW ZEALAND’S DEBT.

I Two years ago the net indebtedness of New Zealand, per head of the population, was £132 0/S, that of France £94 3/4,' of the Unite 1- King dom £Bl 9/2, and of Australia £37 0/S. That a study of that comparison may stimulate- production in this country is the hope of a committee of Christchurch business men. At a meeting held in Christchurch on Thursday evening. the provincial committee of the proposed New Zealand National Exhibition received the report of the ' sub-committee, which expressed the opinion that a clear statement of the Dominion's indebtedness, compared with that of other countries, might be the moans of fostering a greater industrial productive effort in New r Zealand. The following eompara- * live table was submitted: —

The sub-committce further pointed out that, in 1917-18, the total imports into New Zealand were valued at £l9 i 0/8 per head of the population, while

the imports into Australia amounted to only £l2 (5/6 per hvad. and whereas the exports from .a\ll.‘~‘tfr:lli:l. lambuntod to £ls 4/]. per head of the population, Hll‘ \';:]':v of _'\"'r\‘~,\‘ Z(‘:L}:l.'.llL‘.">‘. o.\'pl)l‘l'.\' \vm'6‘ :1'm1n.»~:1‘ double that figure pm‘ head. The c.ommitt.ee contended that fhese figures showed that New Zealand should reduce its national indebtedness by using its raw materials in local industries. _ "

1 % Debt per Head. I Year Country £ s d | 1917-8 New Zealand .. . . * 132 0 8 1917-S Commonwcajltli Australia of 57 0 S 1917 United Kingdom . . SI 9 2 1917 United States 8 9 4 1917 France 94 3 4 1917 Italy 29 11 S 1917 Russia 13 10 10 1917 Germany 51 5 0