The Colonial treasurer in London.

Nelson Evening Mail, Volume XXIX, Issue 98, 27 April 1895, Page 2

The Colonial treasurer in London.

[United Press Association.] London, April 20. The Hon. Mr Ward, a Idressing the London Chamber of Commerce, denied that the land tix had been collected early because the Government was hard up. It was merely in order to avoid a needless issue of Treasury Bills. Moreover the Colony at that time possessed three millions worth of unpledged securities in London, two-thirds of which he himself forwarded at the time of tho crisis in Australia in order to guard ag.iinat any emergency. Referring to the action as to the Hank of New Zealand, the Treasurer said the Government was prepared to loss the two millions rather than risk a crisis in the Colony. He denied that the Advances to Settlers Act was a political dodge, and urged upon the Chamber the claims of the Pacific mail and cable ser-

vices.

Sir George Grey confirmed Mr Ward's remarks, saying that those who had invested in New Zealand hid done wisely, and had received handsome returns.

Later. The 'Financial Times' says that Mr Ward's address to the Chamber of Commerce produced a good impression of the financial stability and resources of New Zealand.