DOMINION DEBT

Evening Star, Issue 17313, 29 March 1920, Page 6

DOMINION DEBT

♦ .—■ A STARTLING COMPARISON. Two years ago the net indebtedness of New Zealand per head of the population was £152 0s 8d; that of Prance was £94 3a 4d, of the Unit-ed Kingdom £Bl 9a 2d, and of Australia £57 Os Bd. That a study of :hat comparison may stimulate production in this country is the hope.of a committee of Christchurch business men. At a meeting held in that city on Thursday (the ' Sun' reports) the provisional committee of the proposed New Zealand National Exhibition received the report of a sub-committee, which expressed the opinion that a clear statement of the Dominions indebtedness, compared with that of other countries, might be the means of. fostering a greater industrial productive effort in New Zealand. The following comparative table was submitted:

Tho sub-committee further pointed out that in 1917-18 the total imports into New Zealand were valued at £l9 0s 8d per head of the population, while the imports into Australia amounted to only £l2 6s 6d per head. • ' And whereas the exports'from Australia amounted to £ls 4s Id per head of population, tho vahi& of New Zealand's exports was almost double that figure per inhabitant. The committee contended that these fierures showed that New Zealand should reduce national indebtedness by using raw materials in local industries.

Debt p«r Year. Country Head. 1917-18 New Zealand £132 0 8 1917-18 Commonwealth of A-js. 57 0 8 1917 United Kingdom ... 81 9 2 1917 United States .„ ... 8 9 4 1817 France „ ... 94 3 4 1917 Italy ... 29 11 0 1917 Russia ... 13 10 10 1917 Germany ... 51 5 0