N.Z. BONDS HELD IN ENGLAND.
> INTEREST PAYMENTS IN STERLING. GOVERNMENT'S ATTITUDE PRAISED. LONDON, July 12. The city editor of the "Financial Times" says: "There has been a quick appreciation of Mr Forbes's declaration demonstrating that the present state of the law will not be allowed to stand between Dominion borrowers and the rights of bondholders. Had an excuse for a less patently honest policy been sought it could have been found in the circumstances of New Zealand trade and revenue.- Notwithstanding the strain on the budget no relief is sought in respect of the £10,000,000 payable annually in Great Britain on Gevernment, local body, and private debts. "Fortunately, just when it is needed, the price structure of primary commodities has begun to improve. New Zealand, by the sacrifices it has made in the interests of internal soundness and its external credit status, deserves the brighter fortune which seems to be opening up."
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Bibliographic details
Press, Volume LXIX, Issue 20907, 14 July 1933, Page 11
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152N.Z. BONDS HELD IN ENGLAND. Press, Volume LXIX, Issue 20907, 14 July 1933, Page 11
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