DOMINION FINANCE

Evening Post, Volume XCIV, Issue 133, 3 December 1917, Page 7

DOMINION FINANCE

THE NEXT INSTALMENT-OS" THE LOAN.

(II in.SO»AI>H.-HPK»SS A6BOCIinOH.)

AXJGKLAm>, This Day: A statement regarding the finances of the Dominion was made by Sir Joseph Ward. He stated that the next instalment of the War Loan of £26,000,000: authorised last session, would probably be placed upon the market about March. The amount of thfe 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 fall provision for all., the Do- . minion's requirement* np an ihe end of next July._ By that time Parliament will again be in sefcsion, and we will be in a position to know what further money is needed it the war continues for-the succeeding twelve months." ■ "- . • .-;■ Inregard to the financial situation oeneraUy, Sir Joseph said the figures for th* penod ended 30th November wore not available, but.he was able to say the position was satisfactory. • In l-eference-to post-war-,po£sibaitieß,-he reiterated his previously expressed opinion that inonev -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 tihß war from Great Britain, the United States, .and Japan.. A great deal of commercial and industrial development work would need to be undertaken after the war 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. ft would act as a serious deterrent to pio-' gress if there was any attempt to keep up the high rates new ruling. He did not think there was any ground for apprehension on this -account.