GOVERNMENT BORROWING.
TREASURY BILLS AND SHORT-
' DATED DEBENTURES. [BY L TELEGEArH.— CORRESPONDENT.]
Wellington, Monday. In view of the considerable amount of shortdated debentures maturing nest year, the Government has introduced a Bill authorising them to issue debentures to redeem the above at interest not exceeding five per cent. At present the Government cannot pay more than four per cent, for the money it raises on debentures. The stringency in the money market may make it impossible for the Government to raise money for the renewal of debentures falling due at as low a rate of interest as four per cent. The Government, however, may he able to get all the money they require at four and a-half per cent. Another Bill introduced to-day, the Treasury Bills Extension Bill, is framed with a view to extending the currency and time for payment of Treasury Bills. In lieu of the limit of time prescribed bv section 2 of the Public, Revenues Act of .1893, it is proposed to extend the period to March 31, 1910. At present the Government has power to issue bills only up to March 31, 1903.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NZH19031013.2.38
Bibliographic details
New Zealand Herald, Volume XL, Issue 12400, 13 October 1903, Page 5
Word Count
188GOVERNMENT BORROWING. New Zealand Herald, Volume XL, Issue 12400, 13 October 1903, Page 5
Using This Item
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries and NZME.
Log in