Colonial Loans.

Waimate Daily Advertiser, Volume III, Issue 193, 24 August 1901, Page 3

Colonial Loans.

The Wellington correspondent of the Otago Daily Times says-: The quarterly accounts, which only made their appearance in the Gazette the other clay, have been much discussed. Members are more than surprised to lind that, in addition to the £500,000 raised in the colony, and the sundry loans of V/hich we have heard lately, the Government had during the June quarter raised another • half-nflllion loan in London at 4 per cent. The astonishment is increased when they contrast this piece of information with the statement of the. Premier’s, when getting his Advances to Settlers Bill through —namely, that die had been advised it would not be wise to go „h the London market at the present time. The interest (4 percent.) is a higher rate than the colony has paid in London for 10 or*l2 years. The fact that no word -reached the colony concerning the flotation of the loan would seem to indicate that the money had not been raised in the ordinary way, and bad been advanced by some iii\ar;<-uti institution. A point in the tpeu 'rots which has caused soq; 0 l members anxiety q the abnormal fall in the c\g'omß returns for the quartfn. The revenue amounted to £4sb,l>'-w, os against £462,530 for the corresponding quarter in the previous year.