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Wairarapa Times-Age, 30 June 1939, Page 4

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FOR LONDON LOAN OF 33 MILLIONS. AN UNFOUNDED REPORT. (By Telegraph—Press Association.) WELLINGTON, This Day. The Government had no knowledge of the suggestion made in a newspaper cablegram from London that the Minister of Finance, Mr Nash, was trying to raise a loan of £33.000.000. This statement was made by the ActingLeader of the House. Mr Fraser, in reply to an urgent question by the Leader of the Opposition, Mr Hamilton, in the House of Representatives yesterday. Mr Hamilton inquired whether the report was correct and asked whether Mr Nash had been authorised by the Government to raise that sum in sterling in London—presumably £17.000,000 foi' the renewal of the loan and £16.000,000 of new money. “The primary object of Mr Nash's visit to Great Britain,” Mr Fraser replied, “is to prepare the way for the conversion of the £17,000,000 loan which falls due for repayment in January next. Mr Nash is also taking the opportunity to discuss matters of defence and trade, both of which involve questions of finance. Special authority of Parliament would be necessary before new moneys to the extent of anything like £16,000,000 could be raised.”