DOMINION FINANCES.
NEED FOR LOAN MONEY. POSSIBILITY OF RETRENCHMENT. The Acting-Prime Minister, Sir Francis Bell, stated about a fortnight ago when making a statement regarding relief works, that he intended later to make a detailed explanation of the conditions of public finance. This second statement has been withheld, and apparently will not make its appearance for som*> time yet. The fact is that New Zealand finance at present is dependent largely on the success of the Prime Minister’s loan operations. There is good reason to believe that a loan will be raised, but if there is a hitch the Government will be forced to retrench much more drastically than it has yet done. Public works expenditure is still proceeding at the rate of £300,000 a month, but if loan money does not become available this rate cannot be maintained.
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Taranaki Daily News, 22 June 1921, Page 5
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139DOMINION FINANCES. Taranaki Daily News, 22 June 1921, Page 5
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