SHARP DECLINE
DOMINION BONDS LONDON SITUATION "INCREASINGLY SERIOUS" DISCUSSION IN COMMONS Bj 1 olograph—Press Association—Copyright LONDON, July 3 As the result of the publicity given to cablegrams from New Zealand reporting the development of a "black market" for New Zealand pounds, the Dominion's bonds fell sharply to-day. The declines ranged from one to throe points. Banking circles do not believe there is immediate danger of any default on commercial payments. The situation, generally, however, is regarded as increasingly serious. Speaking in the House of Commons, the I'inancial Secretary of the Treasury. Captain H. F. C. Crookshank, said he could not add to the reply'of the Chancellor of the Hxchequcr, Sir •John Simon, on June 21, regarding the loan negotiations of the Now Zealand Minister of Finance, Mr. W. Nash. Mr. Fllis Smith (Labour —Stoke), asked: Is not most loyal New Zealand worthy of better treatment from the Government ? Captain Crookshank did not reply.
Sir John Simon's statement referred to by Captain Crookshank, was that it was not possible to comment until the negotiations were concluded. He was, however, able to state that no question of a guaranteed loan arose.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NZH19390705.2.67
Bibliographic details
New Zealand Herald, Volume LXXVI, Issue 23390, 5 July 1939, Page 13
Word Count
189SHARP DECLINE New Zealand Herald, Volume LXXVI, Issue 23390, 5 July 1939, Page 13
Using This Item
NZME is the copyright owner for the New Zealand Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries and NZME.