INTERNAL LOAN

Wairarapa Times-Age, 18 May 1939, Page 2

INTERNAL LOAN

INDICATIONS OF GOOD RECEPTION. PRIME MINISTER PLEASED. (By Telegraph—Press Association.) WELLINGTON. This Day. The approval with which the country has greeted the terms of the internal loan issue of £4.500,000 was referred to last evening by the Prime Minister, Mr Savage. He has not so far received any official advice as to the public response to the loan since the opening of the subscription lists two days ago. The Reserve Bank, which issued the prospectus for the loan, acts generally as the agent of the Government' in the management of the public debt.

“The reception given to the loan issue is most satisfactory,” said Mr Savage. “Even a glance at the newspapers provides ample evidence of the confidence which New Zealanders have in investing their money in their own country.” After quoting statements in favour of the loan by stock exchange representatives. Mr Savage said: “The approval of these financial experts to the Government’s loan issue is sufficient answer to those enemies of the Government who have in recent weeks made unwarrantable suggestions about the financial stability of the Government. “The newspapers also have aaaed their approval to the terms of ihe loan issue, many of them confidently predicting that the loan will be oversubscribed, and I feel sure that eveiy citizen of New Zealand who has money to invest will view this loan with the same favour.’’