MR. WARD'S CONVERSION SCHEME.
» CRITICISM BY THE ABGUS. [PBBSB ASSOCIATION J (Reoeived May 7, 1.10 p.m.) Melbourne, This Day. The Argua fails to see what advantages will accrue from Mr. Ward's conversion soheme except tbat the prospects of future borrowing may be improved. In the first place, no holder of existing New Zealand stocks can be compelled to convert. In the second, no holder would dream of converting on any other torrnß bnt those whioh would give him the same effective rate of interest as at present. Then as regards the colony itself, even if a saving in interest could be effected, it would be at the expense of a largo addition to principal, and this money would eventually have to be paid.
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Bibliographic details
Evening Post, Volume XLIX, Issue 107, 7 May 1895, Page 2
Word Count
123MR. WARD'S CONVERSION SCHEME. Evening Post, Volume XLIX, Issue 107, 7 May 1895, Page 2
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