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LOAN READJUSTMENT.

NO REPUDIATION. MINISTER'S EXPLANATION. (By Telegraph.—Own Correspondent.) RAGLAN, Friday, live up to the country's obligations, was live up to the country's obligations, was nieiiticined by the Minister of Agriculture, the Hon. W. Lee Martin, at Raglan to-day"wlieri discussing the recent stateinent by the Prime Minister, the Rt. Hon. M. J. Savage, relative to the readjustment of New Zealand loans. Mr. Martin declared that Mr. Savage's statement was manipulated and misconstrued. There was no suggestion of any kind that the Labour Government wished to repudiate any debt the country owed. The Prime Minister had said that when the opportunity came representations would be made to those who lent money to the Dominion to see whether some arrangement could not be made with regard to existing loans. That was all the Prime Minister had said. Mr. Nash was not going with a pistol to point at the head of the lenders and tell them that if they did not do what lie wanted he would do something else. Mr. Nash would meet the people concerned and would see if he coiild not arrive at some arrangement with them. Mr. Lee Martin said he felt that Mr. Nash would be able to open negotiations and show that the more money that could be saved in interest the more money New Zealand would be able to spend oil English goods.

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https://paperspast.natlib.govt.nz/newspapers/AS19360718.2.77

Bibliographic details

Auckland Star, Volume LXVII, Issue 169, 18 July 1936, Page 10

Word Count
228

LOAN READJUSTMENT. Auckland Star, Volume LXVII, Issue 169, 18 July 1936, Page 10

LOAN READJUSTMENT. Auckland Star, Volume LXVII, Issue 169, 18 July 1936, Page 10

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