N.Z. Loan Is Ingenious Compromise
INVESTORS’ CHRONICLE
LONDON, July 29,
The settlement of the New Zealand loan has removed one cause of weakness in the gilt-edged market. The “Investors’ Chronicle” described the terms of the New Zealand loan as an ingenious compromise, uaking it necessary for the Dominion to economise. It adds: “Britain docs not object to the Dominion’s seeking Utopia if she can afford it, but when New Zealand is living beyond her means, Britain is entitled to suggest the curtailment of expenditure, especially where Britain’s own business interests are affected. British exporting interests appear to have come out worst in the bargaining.” The “Economist” similarly insists that while Britain does not wish to interfere in New Zealand’s internal policy, Mr Savage must associate it with the hard facts of the larger world. New Zealand, least of all countries, is able to afford economic self-sufficiency.
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Northern Advocate, 31 July 1939, Page 7
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146N.Z. Loan Is Ingenious Compromise Northern Advocate, 31 July 1939, Page 7
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