LONDON LOANS
CONVERSION NEXT YEAR. OVER SEVENTEEN MILLIONS MATURING. (By Telegraph—Press Association.) WELLINGTON, This Day. Next year £17,173,191 of New Zealand’s public debt will mature in London. and the. refinancing of this will constitute the largest single loan transaction to be undertaken by the Government since it was first returned three years ago. During its initial term of office the Government had to deal with only one overseas loan of any size, and next year's operation will be the only one which requires to be dealt with during the term of the present Parliament.
When asked last evening if it were proposed to send a Minister of the Crown to England to seek a conversion of the amount maturing next year, the Prime Minister. Mr Savage, replied: “We will have to convert most of it in any case. I don't know if it will be necessary for a Minister to go Home or not. We will have to make a preliminary investigation and see what the position is, and then deal with the situation at the appropriate time.”
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Wairarapa Times-Age, 9 November 1938, Page 5
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178LONDON LOANS Wairarapa Times-Age, 9 November 1938, Page 5
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