Our Colonial Treasurer in London.

Evening Post, Volume XLIX, Issue 99, 27 April 1895, Page 2

Our Colonial Treasurer in London.

♦ 1 AN ADVANCES TO_SETTLERS LOAN. I UNITED PRESS ASSOCIATION. I London. 25th April. Tho Hon. J. G. Ward, addressing tho ' London Chamber of Commerce, denied tbat j tho Land Tax had been collected early be1 atiuse tho Government was hard up. It ' was merely in order to avoid the needless isßiio of Treasury Bills. Moreover, the ' colony at that time possessed .£3,000,000 ■ worth of unpledged securities in London, two-thirds of which he himself forwarded at the timo of tho crisis in Australia, in ■ order to guard against an emergency. Referring to the action taken regarding the Bank of New Zealand, tho Treasurer said the Government was prepared to lose the f .£2,000,000 rather than risk a crisis in the > colony. Ho donied that the Advances to - Settlers Act was a political dodge. Mr. Ward urged upon tbo Chamber the claims of tbo Pacific mail and oable services. r Sir George Grey confirmed Mr. Ward's remarks, saying tbat those who invested in I Now Zealand had done wifely, and had received handsome returns. Tho Financial Times says that Mr. Ward'R address to the Chamber of Commerce produced a good impreasion as to the finanoial stability and resonrces of New Zealand. Received April 27, 10.15 a.m. London, 26th April. In connection with the Advances to Settlers Aot, Air. Ward has arranged with the Bank ) of England to issue to-morrow a 3 per cent. , loan of XI ,500,000 with a minimum of 90. Tenders close on Thursday. Special.— Received April 27, 8 a.m. London, 26th April. Mr. Ward Bttid the financial institutions of New Zoaland were flooded with enquiries <■ as to what openings existed for foreign i capital. Great Britain was losing a large i amount of trade by her lack of energy and refusal to subsidise steamers, whereas I foreigners were keenly pushing into any > openings available. He urged that the ' critics in tho financial press neglected to compare tbe debt and the private wealth of Now Zealand per head. The latter was the second largest in the world.