MR. MASSEY HOME.

Taranaki Daily News, 1 October 1921, Page 5

MR. MASSEY HOME.

RECEPTION AT AUCKLAND. NEW ZEALAND FINANCES. REPARATION PAYMENTS. The Prime Minister (Mr. W. F. Massey) arrived in Auckland yesterday, on his return from representing New Zealand at the Imperial conference. He brings a message of optimism regarding New Zealand finance, and he thinks the country will turn the corner before next winter. Better prices for wool are anticipated by Mr. Massey. He has brought back £500,000 for reparation, and more is to follow. By Telegraph.—’’less Association Auckland, Sept. 30. Mr. Massey returned, apparently in the best of health, by the Niagara early this morning, though he left London somewhat run down. Mrs. Massey did not enjoy the best of health while away, but returns considerably improved. The Premier was welcomed on board the Niagara by Sir Francis Bell, the Mayor, and the chairman of the Harbor Board.

New Zealand's financial reputation stands high in London. The £5,000,000 6 per cent, loan, which Mr. Massey floated, was at a premium of 4 per cent, when he left the Old Country. This brought it to par. . Mr. Massey, in. his speech at the civic reception, said New Zealand’s finance in London was of very high repute; in fact it was second only to that of Great Britain. This, in itself, coming from the financiers of London, indicated that the prospects of New Zealand were better than those of any other country that engaged in the war. He felt assured New Zealand would turn the corner before next winter, while his experience was that in other countries people were dreading next winter. If Germany paid the reparation indemnities—and he had every reason to believe she would —New Zealand wpuld receive £1,500,000 yearly for 37 years. He had brought back with him half a million of reparation money. The peace of the world depended on Britain, Japan and America. Twenty of the most powerful battleships in the world were building, eight for one Power and twelve for another. Would these nations scrap them ? He doubted it. If things went on as at present Britain would be the third naval Power instead of the first.

EMPIRE CONFERENCE.

PREMIER OUTLINES WORK. MANY IMPORTANT PROBLEMS. Auckland, Sept. 30. Mr. Massey, talking to a Star reporter, said he was very glad to get back, he had had a most interesting trip, but it had been a very strenuous time in London. He regarded the Imperial Conference as the most important yet held and all that was done at the conference, said Mr. Massey, was in the interests of the United Empire under one sovereign. The greater part of the proceedings was of a highly confidential character, particularly that relative to foreign affairs and naval, military and air defence, which were probably the most important subjects dealt ’ with. There was also the Anglo-Japanese alliance, the proposed disarmament conference, the Silesian question, and the affairs of Egypt. In nil these matters the British Prime Minister and his colleagues took the overseas Prime Ministers into their fullest confidence, and the result, he felt confident, had been beneficial to the Empire. An important matter dealt with at the conference was that of inter-Empire communication by sea, land and air. This subject, of course, embraced wireless communications. He believed der velopments would come in aviation, but in the meantime there was need for cheaper freights, faster passenger mail services, and better cable and wireless facilities. Shipping matters received very careful consideration.

Mr. Massey also devoted much time and attention, outside the conference, to this subject, so vital to the Dominion. He did not care to go further into what had been done, but would have something to say later. Mr. Massey also moved in the direction of getting better cable and wireless rates for Press messages.

Among other questions ventilated at the conference were the German reparations, the position of Incuans in the Empire, Empire (settlement, immigration, and the present unsatisfactory system of the control of the New Hebrides. In addition to the conference business, Mr. Massey had a lot of business to attend to on behalf of New Zealand while in London, including financial affairs generally, the state of the wool and produce markets, delays in unloading New Zealand steamers in London, publicity concerning New Zealand in the Old Country, and war memorials on Gallipoli.

“FLATTERING POSITION.” SIR JOHN FINDLAY ON FINANCE. THE DOMINIONS COMPARED. Auckland, Sept. 30. Sir John Findlay, who returned by the Niagara, was very pleased with the good name that the Dominion had in London. We may fairly claim, he said, that the financial position of New Zealand in London to-day is certainly as high, if not higher, than that of any of the other overseas Dominions. Canada’s position may be slightly better on the American inafket, but our position in London is flattering. The feeling in London is that we have in New Zealand a stable Government, and that' the people of the Dominion will not readily allow themselves to do anything which would in any way amount to confiscation, either directly or indirectly, or that they would impose overdue taxation. That feeling of confidence helped us tremendously in the money market.

Sir John, discussing the rate of interact, said he was of opinion that there were indications it was on the downward trend.