MR. NASH'S MISSION
WHITEHALL CONFERENCE
POLICY OF INSULATION WARNING BY ECONOMIST LONDON". Juno 23 The New Zealand Minister of Finance, Mr. Walter Nash, who hnd a conference at Whitehall this morning, declines to make n statement in reply to newspaper criticisms. He merely says negotiations are proceeding. The Economist, commenting on New Zealand's credit, says it is hard to justify the attitude of the Federation of British Industries, but investors may be sceptical of the extent to which "insulation" is possiblo in a country whoso foreign trade per head is the highest in the world. The most practical way out of a difficult position would be to grant facilities for the conversion of the £17,000,000 loan on the best terms New Zealand can secure from investors, probably around 5 per cent, combined with friendly but firm representations about the ultimate dangers of tho policy of insulation.
Declarations of intention to maintain debt service are scarcely sufficient. The New Zealand Government must frame its policy so that the danger will not arise.
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New Zealand Herald, Volume LXXVI, Issue 23382, 26 June 1939, Page 12
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171MR. NASH'S MISSION New Zealand Herald, Volume LXXVI, Issue 23382, 26 June 1939, Page 12
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