OVERSEAS INVESTMENTS

Evening Post, Volume CXXX, Issue 9, 10 July 1940, Page 6

OVERSEAS INVESTMENTS

(To the Editor.)

Sir,—-Not so long ago investors in Australian and other overseas shares were 'dubbed by certain Ministers of the Crown as traitors to New Zealand, etc. Today the same Ministers apparently now much desire possession of these self-same overseas- shares for which they intend to offer . . . what? Evidently the "traitors" wiseness is more appreciated today, SO much so that our Minister of Finance covets these investments to make up for his party's previous lavish spending. As a New Zealand and Australian investor, and a keen supporter of our part in the war, the writer would be glad if Mr. Nash could, through the. columns of this paper, kindly answer the following questions:—

1. Is this proposed commandeering of private investments entirely a war measure, or is it the fulfilment of an earlier threat to socialise our democratic country?

2. If "foreign" (Australian) shares must be handed over, will the Minister give a written undertaking, endorsed by the Prime Minister, that these shares will be returned to the rightful owners at the conclusion of the war? If not, why not?

3. Should the holders desire to have cash for legitimate purposes, would he be prepared to pay cash (i.e., New Zealand notes) for these shares, at, say, the original cost price? 4. Does the Minister intend to prohibit overseas investors investing inj New Zealand shares and is any action contemplated in regard to present New Zealand shares held by overseas investors?—l am, etc., QUIZ.