MORE EQUITABLE BASIS

Gisborne Times, Volume LXXXIV, Issue 12903, 2 July 1936, Page 5

MORE EQUITABLE BASIS

N.Z. OVERSEAS INTEREST COMMITMENTS.

MR. NASH’S MISSION Tu LONDON,

PAYMENT WITH EXPORTS

<Press Association)

WELLINGTON, July I

A dAmite announcement that the Government intended in the r.oar future to make representations to money .interests abroad with a view to securing New Zealand overseas interest- commitments, being placed on a more equitable basis was made by Mr. Savage to-day. “We do not want to repudiate anything. ’’ said Mr.. Savage. “Ve want to pay those to whom • w.e are i rid jilted in a fair, arid square way. J do .not think the British bondholder has been treated badly, and lie •Vid not 'be treatedly badly by us. 'Ve want to pay twenty .shillings , in the pbund, lint ,we do not w/aiit to 1 - pay twenty-tine did- twenty-five /shillings. We arojiayiiig more than it was iritefaded vve should pay when tlie agreements were- made.” Tlie Prime Minister pointed out that agreements here wore being broken -to satisfy creditors a abroad:', “I say we .must satil’y Creditors everywhere/’ die said) ‘‘Mr Nash-\Vil) bounce the ball when lie gets Homo. Wo can only pay for things abroad with exports.”