ASSURANCE ENDORSED

Wairarapa Times-Age, 20 October 1938, Page 7

ASSURANCE ENDORSED

NEW ZEALAND’S OVERSEA OBLIGATIONS \ “WILL BE MET TO THE FULL” STATEMENT BY MR SAVAGE (By Telegraph—Press Association.) WELLINGTON, This Day. An assurance that the New Zealand Government would honour its financial obligations to the full was given by the Prime Minister, the Rt Hon M. J. Savage, when referring in an interview last evening to a cable message from London, indicating the steps taken in Great Britain to allay anxiety in financial quarters following the return of the Labour Government for a further term of office. British investors. said Mr Savage, need have no fear for the safety of their investments in the Dominion. Mr Savage’s assurance was given in response to an invitation to comment on the following cable message from London published yesterday:— “New Zealand House is taking precautions to allay anxiety in financial and other quarters as a result of unfavourable comments on Mr Savage's return as Prime Minister. The High Commissioner, Mr W. J. Jordan, told the Australian Associated Press: ‘I have informed those concerned that they can rely on the Prime Minister* not doing anything, detrimental to any interests that are vital to New Zealand. I have reminded them that New Zealand has never defaulted, and pointed out the difference between the Government’s policy and what the Opposition would have the public believe.’ Mr Jordan admitted that some financial authorities feared that Mr Savage would now embark on drastic socialisation, but he was very satisfied with the lastest reactions.” “T endorse every word that Mr Jordan ' has said.” said Mr Savage in amplification of the High Commissioner’s statement. “Our obligations to Britain will be met to the full. As Mr Jordan has stated, we have never defaulted. The British investors need have no anxiety concerning their investments in New Zealand. We have met our obligations in the past, and we will meet them in the future. The investors at Home need have no fear.