NEW LOANS

Wairarapa Times-Age, 4 January 1941, Page 6

NEW LOANS

CRITICISED BY PRESIDENT OF STOCK EXCHANGE OBJECTION TO UNLIMITED AMOUNT, NEED OF CONCENTRATING ON WAR EFFORT iRy r<.h>graph-~Tress Ass<j<‘iatii»n. > WELLINGTON, Tint Day. Approached for his views on the new issue of Government loans for national development works, Mr Andrew Hamilton, president of the New Zealand Stock Exchange Association and president of the -Wellington Slock Exchange, said his personal views were that the terms wen- good, except for the absence of a specific limit for the amount required. • The way it appears to me,” he said, "is that the Government is doing the' right thing in the Wrong place. In Other words, these are the tern.. th. • should be applied to ;i | o;in w; , r | purposes in which case it would be perfectly correct proccduie not to Lx i a limit. For the war elfm-i then? should i he no maximum. In the case, however i «-f a . loan L»r internal purposes thereshould !><•. >n my opinion. a definite, limit sot. I lie country should know how much it is borrowing, the debt h I is incurring and the .•.pocidc purj-, *~«•> ; An unlimited loan procedure would bi j <piitc cxcusnblv and even approved -f! it were adopted f.>r war purposes At a \ limo like this when w\- .anm-t t.'il, how much may be o !S t. ■' meet mt a war bill, we should be cur J tailing domc.-itic ..pending and o -,»<•> R.r the gn-ater -if. r ; • jcctionabJo feature of unlimiu-d t! ; nal borrowing was -.doywd bv vioux Government with ,',f a. ■ sues and was me: with expr> . fdisapproval at that time "