GOOD EXAMPLE
N.Z. Government’s Action LONDON INTEREST Southland Power Board THE DOMINION’S CREDIT By Telegraph—Press Assn. —Copyright (Received September 14, 8.30 p.m.) London, September 14. The “Financial News” says New Zealand is to be congratulated on the firm resistance to the efforts of individual local authorities to meet London interest payments in depreciated currency. The policy of the Government is morally right, because the depreciation is largely the result of deliberate devaluation against the . Hon. W. Dowme Stewart’s advice.
The “Financial Times” says New Zealand has decided not to sell its birthright for a mess of pottage, and thus has set an example worth a good deal to the world in its present mood. The “Dally Mail’s” city editor says that the New Zealand Government’s exemplary attitude goes beyond the protection of the Southland Power Board’s bondholders, for it shields New Zealanders against a slur on the national credit, which has always stood high in the city. This reputation will be enhanced by the Government’s unequivocal stand for sanctity of contract and financial integrity.
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https://paperspast.natlib.govt.nz/newspapers/DOM19330915.2.52
Bibliographic details
Dominion, Volume 26, Issue 301, 15 September 1933, Page 10
Word Count
174GOOD EXAMPLE Dominion, Volume 26, Issue 301, 15 September 1933, Page 10
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