LOAN FROM U.S.A.
- ■— WOULD ONLY INCREASE OVERSEAS DEBT [Peb United Press Association.] WELLINGTON, April 25. The advantages and disadvantages of New Zealand raising a loan in the United States were analysed' by the Minister of Customs (Hon. W._ Nash) in his reply to a deputation of importing interests which waited on him on Wednesday The Minister said he had received a letter suggesting that the Dominion should take steps to raise a loan in America. Mr Nash said there was something to be said for the suggestion. “ Wo can borrow from the United States, but Britain can’t.” he said. “ Wo are not affected by the Johnson Act, because we never, failed in connection with the war loan after the last war. To the extent that we did borrow Britain would be able to buy more from the United States, but if we did we would still be adding to our overseas debt, and that is big enough at present. The Government is not keen to add to our burden of debt overseas. We will add to it to the extent of £20.000,000 due to the war. If we did try to pay for that, the effect so far as imports are concerned might create an even greater hardship.”
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https://paperspast.natlib.govt.nz/newspapers/ESD19400426.2.9
Bibliographic details
Evening Star, Issue 23560, 26 April 1940, Page 2
Word Count
208LOAN FROM U.S.A. Evening Star, Issue 23560, 26 April 1940, Page 2
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