NEW ZEALAND LEGISLATION
COMMENT BY LABOUR PAPER ALLEGED MALICIOUS CAMPAIGN i United Prc : Assn.—Elec. Tel. Copyright LONDON, May 18 The City editor of the Daily Herald 'Labour . commenting on the failure of New Zealand stocks to respond to the excellent Budget figures, sajs it is because " certain City linns, partly inspired by New Zealand financial interests, for some time have been carrying on a malicious campaign against New Zealand's credit.” The’ writer adds: “New Zealand's surplus is a fine tribute to the soundness of the Government’s financial policy, its success is partly due to j the boom in New Zealand exports, especially butter, but if the exports fall the real test of New Zealand's policy will come and the Government may have to choose between drastically controlling imports and devaluing the New Zealand pound. “ The Government’s ambitious pensions plan lias inspired politically hostile financial interests, jealous of the Government's success, to spread rumours injurious to New* Zealand's : credit.”
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Waikato Times, Volume 122, Issue 20502, 19 May 1938, Page 9
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158NEW ZEALAND LEGISLATION Waikato Times, Volume 122, Issue 20502, 19 May 1938, Page 9
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