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OUR CREDIT ABROAD.

OBSERVATIONS. \ (By Telegraph.—Own Correspondent.) WELLINGTON, this day. Some very interesting facts conperning the Dominion's credit with British investors was gleaned by a "Post" reporter when interviewing Mr S. J. Nathan, of A. H. Nathan & Co, Ltd, of Auckland, who arrived by the Corinthic from London. Mr Nathan was afforded exceptional opportunities of getting , an insight into matters financial at Home, and, as an observant New Zealand merchant, his "views are entitled to great respect. "I think," he said, "all the New Zealand loans did remarkably well at Home. There was at the time, too, a strong demand for money, and one would have thought that such loans as the Auckland, Wa-nganui, and Westport harbour board loans would not have attracted the attention they -did. The terms were, of course, attractive, but the money was there when wanted just the same. Canada, too, was in the market, and for millions, for Government, municipalities and railways. Nevertheless New Zealand was in strong favour. This country is very favourably regarded at Home as sound, productive, and, on the whole, well administered. Wherever I went I found New Zealand well spoken of, and I do not now refer only to the financial world." Mr Nathan was asked if there was any money available for industrial undertakings in New Zealand. In reply he said: "I fear reports of labours doings and of labour legislation here and its probable consequences are much exaggerated. They are sent Home in an extremely abbreviated form, and, unfortunately, the antidote does not always go with them. At the same time, I cannot say that they actually do prejudicially influence British money flowing our way for industrial undertakings. For the matter of that, while there is undoubtedly plenty of money in England, it is held on to with unrelaxing hold, or is put into superlatively giltedged sureties. There is very little money, comparatively speaking, available for industrial purposes. Whatever the causes, whatever the remedies, tariff reform or otherwise, I know not, but this I know, that trade at TTome was terifoly dull when I left. Quite large houses are feeling most keenly, as they never felt before, the effects of German and American competition. Among themselves there were, I could see for myself, many hogus unemployed, but there can be no mistaking the fact that there is a shocking amount of genuine distress nttributable to wnnt of employment. This, of course, Ims all retail trades very hard indeed. Sound, old established honse-s of repute are now. and have for a long time been, among the non-divi dend payin? undertakings. The problem before England to-day is a very serious one, and how it is to be solved quite passes my understanding." While in Canada on his way home Mr Nathan interviewed Sir Wilfrid Lniirier, and he was most cordially received by that statesman. Sir Wilfrid Raid he was deeply interested in New Zealand and had a great affection for its people. He asked "Mr Nathan many questions of a nature that showed he was au fait with the affairs of this country. In discussing the prospects of Xew Zealand trade with the maritime provinces of Canada, Mr Nathan said that Sir Wilfrid Laurier expressed his belief that there was sufficient trade to be liad to warrant the liners now running between New York and TJew Zealand, starting from the St. Lawrence, and. if they were provided with refrigerating plant, carrying back meat, butter and other perisha'nle products to the ports of. Eastern Canada during many months of the year.

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OUR CREDIT ABROAD. Auckland Star, Volume XL, Issue 71, 24 March 1909

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