LONDON LOANS.

Auckland Star, Volume LXX, Issue 182, 4 August 1939, Page 9

LONDON LOANS.

DOMINION EFFORTS.

LACK OF APPRECIATION.

SYDNEY VISITOR'S VIEW.

"It does not appear to be fully appreciated in London that the financial records of Australia mid New Zealand entitle them to special consideration in rcpard to loans," said Mr. George Fitzpatrick, a Sydney business man. on ]ii> arrival at Auckland to-day by the Monterey, en route from San Francisco to Australia.

The result of the recent Australian loan issue in London, when a proportion of the stock was left in the hands of the underwriters, was very disappointing, he stated, and there was a feeling in some quarters that the criticisms which had been directed bv financiers against Xew Zealand's polic'v were rather an excuse than a reason for not coming to the Dominions assistance. Many Australians who were opposed to the political views of the present Government in Xew Zealand at the same time regarded it as intolerable that interests in Britain should attempt to dictate the policy of a self-governing Dominion. It was felt that what was Xew Zealand's problem to-day might be Australia's to-morrow.

Mr. Fitzpatriek praised New Zealand's overseas publicity, which, lie said, was far superior to that of Australia. He was also impressed by the effectiveness of this Dominion's marketing methods, which were superior to those of Australian States.

He was in London when the Minister of Finance, the Hon. W. Nash, arrived there, and thought the welcome accorded him was most friendly. Mr. Nash's early suggestion that the result of his loan negotiations would not involve considerations affecting New Zealand's internal policy was not. however, wise.

There would be widespread sympathy in Australia for the Prime Minister, the night Hon. M. J. Savage, in his present illness, he said.