LIGHT WANTED

Evening Post, Volume CXXVIII, Issue 35, 10 August 1939, Page 14

LIGHT WANTED

PUBLIC RIGHT TO KNOW

"The veil of secrecy" cast over th* New Zealand conversion loan trans* action, to which the cable dispatches refer, appears to be as impenetrable in New Zealand as it is in London. Inquiries made by "The Post" todaywent to show that there is some doubt about the premium of 1-16 per cent, at which, according to the cabled information, the conversion loan had been dealt in, for the reason that other New Zealand loans in the market are purchasable at more attractive prices. The opinion was expressed, however, that the Government should remove that veil and let the public know: exactly what it covers. That the public have a right to know, and without* undue delay, was strongly emphasised^

It was further added that certain remarks made by responsible persons as to the attitude of British banking interests and the Bank of England towards New Zealand were damaging ,to the prestige and standing of New Zealand in London, and could not be regarded lightly in London. The lender would not ignore or forget them. Naturally, the expressed intentions of those who made such statements would be taken at face value; but itj rests with the Government to say, and;' that at once, if it is in accord with" those sentiments. The thinking sec-' tion of the New Zealand public will take the strongest exception to them.;; The credit of the Dominion presenfri and future depends upon the Govern-* ment stating that it agrees or does not agree with the statements in question*