OUR OVERSEAS CREDIT
MALICIOUS CAMPAIGN IN LONDON ALLEGED BY THE “DAILY HERALD.” REAL TEST OF N.Z. POLICY IF EXPORTS FALL. By Telegraph—Press Association. Copyright. LONDON, May 18. The city editor of the Labour paper, the “Daily Herald,” commenting on the failure of New Zealand stocks to respond to the excellent Budget figures, says it is because “certain city firms, partly inspired by New Zealand financial interests, for some time have been carrying on a malicious campaign against New Zealand credit.” He adds that the New Zealand surplus is a fine tribute to the soundness of the Government’s financial policy. The success is partly due to the boom in New Zealand exports, especially butter, but if exports fall the real test of the New Zealand policy will come. The Government may have to choose between drastically controlling imports and devaluing the New Zealand pound. The Government’s ambitious pensions plan has inspired politically hostile financial interests jealous of the Government’s success to' spread rumours injurious to New Zealand credit.
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Wairarapa Times-Age, 19 May 1938, Page 7
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167OUR OVERSEAS CREDIT Wairarapa Times-Age, 19 May 1938, Page 7
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