ANOTHER LOAN

Evening Post, Volume CV, Issue 109, 9 May 1923, Page 4

ANOTHER LOAN

With a Public Debt of £220,000,----000, another loan is being raised. This time the Government is applying to the British investor for £4,000,000, and is prepared to accept £92 for every £100 lent, but paying an interest of -1 per ceut.

per annum, the currency of the loan to terminate in 1933 or 1945, as may be decided. The terms are attractive to the British investor,, for New Zealand is .in class Al in the investor's I estimation, as, indeed, it ought to be, taking into account the industry anil steadiness of its population and the highly productive character of the country. The present extremely unsatisfactory aspect of international political affairs, and the still rather tense condition of the money market, have to be taken into account, and when they are it is found that the £4,000,000 loan in review is a "good thing" for both the investing public and the Dominion Government. In a way, the favourable comments made by the "Daily Telegraph" and the "Daily Express," as cabled, on this loan are a reflection of the opinion of the London market that New Zealand has wonderfully recuperative powers and- that the Government is in earnest in keeping down expenditure to absolutely necessary purposes. • It is a recognition, too, of the fact that the incandescent speculation which was so conspicuous in "war trading," and especially so in land transactions, has cooled down. The reception that the public will accord to the latest New Zealand loan will be most interesting to observe.