THE FIVE MILLION LOAN.
We have been looking, but in vain, for a rational explanation of the failure of the New Zealand loan. All sorts of excuses an.* put forward by
the apologists for the Party. It is even asserted that Jhe Opposition compelled the Government to prematurely announce the terms under which the loan was offered. A more absurd suggestion could not, of course, be made. The fact is that the British money-lender is becoming scared of New Zealand. He has confidence in the country, but has lost faith in the Administration. He is not satisfied that the borrowed money is being spent to advantage. He lias plainly hinted that lie wants things run on a more economical basis. The underwriters have come to the rescue -of Sir Joseph Ward; but they will experience great difficulty, for some time to come, in ridding themselves of their obligation.
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https://paperspast.natlib.govt.nz/newspapers/WAG19101125.2.13
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Wairarapa Age, Volume XXXII, Issue 10153, 25 November 1910, Page 4
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148THE FIVE MILLION LOAN. Wairarapa Age, Volume XXXII, Issue 10153, 25 November 1910, Page 4
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