N.Z. CREDIT STATUS
LABOUR PRESS ALLEGATION. [by CABLE PRESS ASSN. —COPYRIGHT 1 LONDON, May 18. The city editor of the “Daily Herald,” commenting on the failure of New Zealand stocks to respond, to the excellent Budget, figures, says it is because “certain city firms, partly inspired. by New Zealand financial interests have for some time been carrying on a malicious campaign against New Zealand's credit.” He adds: “The New Zealand surplus is a (line tribute to the soundness of the Government’s financial policy. The success is partly due. to the boom in New Zealand exports, especially butter; but if export prices fall the real test of New Zealand’s policy will come. The Government may have to choose between drastically controlling imports and devaluing the New Zealand pound. The Government’s ambitious pensions plan has inspired politically hostile financial interests, jealous of the Government’s success, to spread rumours injurious to New Zealand's credit.”
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Greymouth Evening Star, 19 May 1938, Page 8
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151N.Z. CREDIT STATUS Greymouth Evening Star, 19 May 1938, Page 8
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