Internal Loan Planned
But it Won’t be Compulsory, Says Premier SEVERAL MILLIONS INVOLVED Per Tress Association. AUCKLAND, Last “We have not thought of a coinptw sory loan at all," said the Prime Minister, Rt. Hon. M. J. Savage, in discussing the Government's plans for raising an internal loan iu New Zealand shortly. “T am unable to give the terms of the loan, but the sum will run into several millions," Mr. Savage said. He explained that plans for an internal Joau were nearing completion and would bo made public shortly. “It will be an opportunity lor people to invest and help building and defending their country,” be added. “It is not too much to offer a subscription to build and protect the structure." Mr. Savage said he had not heard a suggestion that New Zealand was likely to borrow from Britain and in any case the present would be a bad time to go on the market. If, however, it became necessary to raise money overseas to buy raw materials and goods that could not be made iu New Zealand, the benefit of such expenditure would go to Britain.
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https://paperspast.natlib.govt.nz/newspapers/MT19390426.2.36
Bibliographic details
Manawatu Times, Volume 64, Issue 96, 26 April 1939, Page 4
Word Count
189Internal Loan Planned Manawatu Times, Volume 64, Issue 96, 26 April 1939, Page 4
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