Statement By Mr Nash

Northern Advocate, 29 July 1939, Page 8

Statement By Mr Nash

(Received 1 p.m.) LONDON, July 27,

The Hon. Walter Nash, interviewed by the Australian Associated Press, stated that the unfailing courtesy and consideration of the British Government officials had greatly facilitated the conclusion of the loan negotiation, on which he would issue a statement before leaving for New Zealand. “The details still remaining will keep me in London till the end of next week,” he said, adding that he would fly to Paris tomorrow to discuss trade with New Zealand.

He is hopeful that when he bias explained the reason for import restrictions that the French Government will co-operates in maintaining the trade of the two countrie>. “I have also to discuss details of the transtasman service, and also freight contracts, after which I shall be .all clear for returning home,” Mr Nash 'added.

The deficiency of £1,000,000 between the amount of the conversion loan and the £17,000,000 due will be paid out of New Zealand’s accumulated sinking fund.

The ‘‘Daily Express” says it understands that the Governor of the Bank of England, Mr Montagu Norman, insisted upon repayment by instalments because of the heavy fall in the market value of the New Zealand loans.