GLOOMY VIEW
NEW ZEALAND’S FINANCIAL
POSITION OPINION OF THE LONDON “TIMES.” TALK OF EXPORT CREDIT. By Telegraph—Press Association— Copyright. (Received This Day. 9.35 a.m.) LONDON, June 15. “The Times” city editor draws attention to the possibility of the British Government assisting New Zealand, and suggests that such help would be in the form of export credit. It considers that some assistance is desirable, but it is doubtful (the commentator says) whether it is justifiable to give New Zealand sufficient assistance to sustain her Government’s ambitious programme intact. He adds that the present development of manufactures has been excessively rapid and lavish and a reduction of tempo, combined with an adjustment of other matters in which the Dominion’s economy is out of gear, might effect a substantial economy in New Zealand’s sterling requirement without involving Mr Savage, in a sacrifice of principle. “The Times” considers that, as things are going, it is likely that there will be no sterling surplus available to meet the debt service and that there is scarcely any hope of New Zealand raising a large amount of new money on the London market.
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Wairarapa Times-Age, 16 June 1939, Page 6
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186GLOOMY VIEW Wairarapa Times-Age, 16 June 1939, Page 6
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