FINANCE AND WAR
PROBLEMS FOR LABOUR
Recent chapters of New Zealand history were traversed by the Minister of Finance (Mr. Nash) at Waiwhetu last night. •About the time of the last General Election in 1938, said Mr. Nash, there was a raid on New Zealand's overseas funds. Men and private organisations in charge of those funds, which really belonged to New Zealand, and were necessary for its welfare, sold the funds and used the proceeds for investment in other countries, where the Government could not get access to them. "We found in December, 1938," said Mr. Nash, "that there was £6,700,000 left in London to buy all the goods required for this country." At that time they, were facing the necessity of making a payment of £ 12,000,000 by way of interest and sinking fund in the Old Country, and, in addition, a debt of £17,127,000 was about to fall due. "It
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Bibliographic details
Evening Post, Volume CXXXVI, Issue 73, 23 September 1943, Page 8
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151FINANCE AND WAR Evening Post, Volume CXXXVI, Issue 73, 23 September 1943, Page 8
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