DOMINION FINANCES

Dominion, Volume 11, Issue 60, 4 December 1917, Page 8

DOMINION FINANCES

FOSITION SATISFACTORY

■STATEMENT BY SIR JOSEPH WARD

Br Telegraph—Pres3 Association.

Auckland, December 3.

A statement regarding the finances of the Dominion was made l>v Sir Joseph Ward. He stated that the next instalment of the A\ ar Loan _of £26,000,000. authorised last session, would probably be placed upon the market about March. The amount of tho issue would not exceed £11,000,000; in all probability it would be about £10,000.000. "When this further sum has'been obtained," said the Minister, "it will be sufficient to make full provision for all the Dominion's requirements up till tho end of next July. By that time Parliament will again be in session, and we will be in a. position to know what further moncv is needed if tho war continues for the succeeding twelve months." / ...

111 regard to the financial situation generally, Sir Joseph said the figures for the period ended November 30 were not available, but lie was able to say the position was satisfactory. In reference to post-war possibilities, he reiterated his previously expressed opinion that money will not be dear after the close of hostilities. Much more money, he considered, would be available for investment after the declaration of peace than was _ provided before the war from Great Britain, the United States, and Japan. A great deal of commercial and industrial development work would need to bo undertaken after the lvar in all parts of the British Empire, but it would be impossible to carry out this -work on the basis of high rates of interest. It would act as a serious deterrent to progress if there was any attempt to keep up the high rates now ruling. He did not think there was any ground for apprehension 011 this account.