MR A. M. MYERS, M.P

Press, Volume L, Issue 14983, 2 June 1914, Page 3

MR A. M. MYERS, M.P

■RETURN FROM THE OLD COUNTRY. AN INTERESTING INTERVIEW. ! (S-EC-.-L TO "T*T_ FB._!-_.". j AUCKLAND, Juno 1. t Mr Arthur __. Myers, M.P., accompanied by his wife and family, arrived back in New Zealand by tho Niagara, which berthed at Queen's wharf at 3.30 o'clock this afternoon. In the <__i_;se of an interview Mr Myers said, dealing raoro directly with finance: —"I learnt from some of tho leading London financiers that there was a growing strong feeling amongst tbe interested public to enquire more critically as to the purpose of colonial loans, and if the same were for legitimate development purposes. It was particularly gratifying to hear that after _i most critical examination made by an unbiased responsible person of repute, specially appointed to examine critically the character of the existing debt of the various Dominions, tho result was most favourable to New Zealand and tho money well invested.

"Did they omphasiso any further particular point-?" "Only as already stated. They 1-vere fully seised with tho fact that our loans have been used for the promotion of settlement, advanoes to settlers and workers, and development purposes. They also particularly emphasised tho fact that for many yearthere had not boon a. deficit, but oui nine millions of surpluses had been used in tho further development of tho country, and there is a sinking fund for the redemption of all loans, which not only helps flotation, but the supporting influence of which is operating during the whole period of the loan." "Is any other factor affecting colonial loans?" Mr Myers was asked. "Yea, tho feeling is growing, thanks hi a great moasuro to the Colonial Stock Act, which is popularising oversea Dominion stock, and which places them in a more favourable position than in any other class of security, it boing generally lecognised that their socurity is quite as good as that of Consols for all practical purposes. They yield more interest and aro redeemable within fixed terms instead of, as Conr.olaro, at the option of the Government of the day." "What about tho future prospects of the money market?" won the next question. "Given normal conditions," repli_y. Mr Myers, "that is. absence from war, political complications, and industrial upheavals, and what with the enormous accumulations of money, there is overy likelihood of cheaper money in the near future."

Turning to the question of defence, Mr Myers enid that this important question had never, and he hoped would never be, treated as a party question. Therefore he had spoken his own con--victions with every freedom, as a sound defence of national security should bo the first plank in every political creed. His views were that having regard to tho present situation which obtains, that is to say, tho unexpected developments in North Sea and European waters having presumably influenced the xVdmiralty to deviate from tho original terms agreed upon at the 1909 Conference, thoro was every justification for a reconsideration of the wliolo position. x_s an outnost of Empire in tho Pacific '■ Ocean which, in the future, was likely to bo the main theatre of international rivalry, tho time had arrived for Now Zealand to commence preparing, obviously in a small way only, for such a contingency. The building up of navies for the Dominions, properly manned, trained, and organised in proportion, to our population and wealth, he ventured to ■ assert, would assist in creating a naval and national spirit, and irrespective of it» defensive value, give tue ideal of a united F,mpiro a fresh impetus.

.__r Myers said in conclusion that, so long as we developed our-vast resources on sound progressive lines, ho felt more than ever tho prreat future that was in front of New Zealand mnterially. mentally, and socially. Our watchword should certainly be '-Full Speed Ahwd" in our efforts to turn into cultivation the thousands of uncultivated acre- of land, and in pursuing a vigorous policy of improved transit and transportation, as there was an increasing world-wide demand for our products.