NEW ZEALAND FINANCE.

New Zealand Herald, Volume XLIX, Issue 15048, 18 July 1912, Page 4

NEW ZEALAND FINANCE.

: Sir,"HIJ." wishes to know "What ha§ 1 become of the £60,000; excels pit wpoji*.; over imports, and cilso t&e £40,0(H),000 bor- 5 rowed from foreign sources." It seems to ; me ; that the in habitants of Jvfiw Zealand j have it in the form <>£ private wealth of | some sort, unless wo have lost it in spiicu- j lations. It ■ must »" he icraen&eired '-Sfcafc ow j exports and imports are compiled from I . goods passing through the Customhouse in] the ' form of «spc|rt and import entries, j j may own half the Wftihi mine, and half of j the Auckland Gas fc chmmifA*nd t-he «a»vo j amount ia the AucMcyad JSloctrio Tmj» Company, and may . sell out the whole lot I to people in London, \ New sTork, or Berlin, j and no wwrd' is kepis of the transaction by j . the Customs. Yet I .may Jiay® transferred 3 millions of money or its equivalent to] people outside * the Dominion. If wo : can 1 make the export of- lttliO«if''Bvpro!ditctß-going 1 through'thQ-OustftmJ^^-'e^^^'^^fira-'j ports by £4,000,000 '• a -year, and the State can " guarantee" tliis amjawt- y«&riy, we ] ; have an " asset' 1 winch #o'. cfrn sell at any j time for 400 million sterling, and still ppiain-. I tain ourselves in cmfejii >. '&\s4lfftb9N£ ii/l p^S.— is rJbwujd-joja, » 4 jjcy oeiat. -I investment for outside >eapiitaJ^A.& 1