TREASURY BILLS
Issue in London NOT LOAN OPERATION The issue of £600,000 in Treasury bills in London repotted by cablegram yesterday morning, was discussed by Sir Apiraha Ngatu. He pointed out tliat the issue of these bills had nothing whatever to do with the loan operations of the Government. “These bills were issued in anticipation of revenue, a contingency tliat generally arises at this time of the year when the Consolidated Fund has tiot received the revenue from income tax,” Sir Apirana said. The bills mature oh March 14, 1931. aud therefore will be paid off before tlie end of the financial year. The proceeds are to be used for general payments in London, such as interest, etc. “The terms on, which tlie bills were sold, at a discount of £2/3/9 per ceht.. compare favourably With the issue of Imperial Treasury Bills on the some day at the rate of £2/2/11 per ceht.”
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Bibliographic details
Dominion, Volume 24, Issue 58, 2 December 1930, Page 10
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153TREASURY BILLS Dominion, Volume 24, Issue 58, 2 December 1930, Page 10
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