NEW ZEALAND FINANCES

Press, Volume LI, Issue 15267, 1 May 1915, Page 11

NEW ZEALAND FINANCES

4 THE £200,000 LOAN. STATEMENT BY MR ALLEN. (press association telegbam.) • DUNEDIN. April 30. .. .Regarding the "I>aily Mail's" reference to the raising of the New Zealand loan in. the London market, the Hon. James Allen made the following stated ment to a reporter:—The Treasury's approval was given for a small loan of £200,000 to pay the loan coming due, whioh had to be met. That is the extent of oar financial obligations. It is a 4 per cent, inscribed stock loan, and must bo raised, so that it will cost the Dominion, after provision for discounts, discharge, and redemption charges, at the rate of £A 10s od per annum. That is a very favourable transaction, and the public need only look at the rates other countries have been paying for money to see this. . . Questioned as to comparative positions, Mr Allen remarked that he desired, without any spirit of boasting, to say that New Zealand stood upon the London market to-day in a sounder position than any other part of the Etnpii-e. The situation regarding internal finance was fairly satisfactory. It had taken a long time to out the balances for the financial year, and the actual results were riot available, but the public might rest assured that when the results were made known the position would be very satisfactory. Financial arrangements had been made for the steady carrying on of public works for six months.-