WILL NEVER DEFAULT

Evening Post, Volume CXXVII, Issue 126, 31 May 1939, Page 9

WILL NEVER DEFAULT

N.Z.'S INTEGRITY

MR. NASH'S ASSURANCE

MISSION IN LONDON

TRADING OFFER TO BRITAIN

(By Telegraph—Press Association—Copyright.) (Received May 31, 9.30 a.m.) LONDON, May 30. The New Zealand Minister of Finance (Mr. W. Nash) will see the Dominions Secretary (Sir Thomas Inskip) on June 2 and will discuss the loan position in New Zealand with the Dominion's financial advisers in London. He told Press representatives that New Zealand will never default. Even though her stocks remained on the present basis—a price which had some politics in it—the Government would still meet the market. However, he hoped to convince the City that strictures on New Zealand were unjustified. Whatever the Govern - men had done internally did not concern the City as long as it did not affect the Dominion's willingness and capacity to meet its interest charges. Mr. Nash added that he was prepared to offer the British Government an agreement under which, after meeting debt and other charges, New Zealand would spend the maximum balances available in Britain, which would get proportionately more of New Zealand's overseas trade than heretofore. ATTRACTING MANUFACTURERS. Referring to the alleged grievances of British manufacturers, Mr. Nash said: "The Government desires to see British firms, in preference even to Australian, establish industries in New Zealand. lam already in touch with representatives of one large industry to come to New Zealand, despite the fact that American and Australian concerns have already rushed in applications for permission." The "Daily Telegraph" considers that British exporters should ask substantial concessions from Mr. Nash since New Zealand's financial straits are due to her own policy, but if Mr. Nash promises ability to meet the debt charges and that they will not be jeopardised, he may be assured of accommodation.