GOVERNMENT LOANS
Sir, —In view of an impending Government loan I would call the attention of the Minister of Finance to a source that might be tapped if the Government could devise some method of protecting investors against too great a sacrifice. When Mr Nash suddenly put small shareholders like myself in a position that meant financial loss by altering the exchange rate between New Zealand and Australia, many shareholders here 'to protect themselves, authorised Australian banks to accept their dividends and place them on fixed deposit at a very low rate of interest, in the hope that parity might be restored. Vain hope! In many cases, some 20 s years of this practice have
piled up substantial sums in Australian banks by New Zealanders who would gladly bring them over and invest in the Government loans if it did not involve too great a loss by the 25 per cent, against them.— Yours, etc., INVESTOR. June 12, 1956.
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Press, Volume XCIII, Issue 27993, 13 June 1956, Page 3
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159GOVERNMENT LOANS Press, Volume XCIII, Issue 27993, 13 June 1956, Page 3
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