NEW ZEALAND LOAN.

Manawatu Standard, Volume LIX, Issue 205, 31 July 1939, Page 9

NEW ZEALAND LOAN.

'•INGENIOUS COMPROMISE." BRITISH PRESS OPINIONS. LONDON. July 29. Most commentators consider that the market lias at last turned the corner and, barring, political shocks, there should I>2 a steady rise in prices accompanied by an expansion of business. The settlement of the New Zealand loan lias removed one cause of weakness from the gilt-edged market. The Investors' Chronicle describes the New Zealand terms as an ingenious compromise necessitating economising on the part of the Dominion. Britain does not object to the Dominion seeking Utopia if she can afford it. but when living beyond her means Britain is entitled to suggest -a curtailment of expenditure, specially where Britain's own business interests arc affected. British exporting interests appear to have come out worst in the bargaining. The Economist similarly insist that while Britain <loes not wish to interfere with New Zealand's internal policy, Mr Savage must associate it with the hard facts of the larger world. New Zealand is least of all countries able to afford economic selfsufficienscy, as the level of her internal costs is divorced from her trading position. |