PUBLIC TRUST OFFICE.
Sydney, April 2,
The Sydney Morning Herald, commenting on the Public Trust Office of New Zealand, says that not only in the newer legislation, but in some Acts already of respectable age, New Zealand has shown self-reliance and willingness to take the initiative. It will be fortunate for the colony if all its undertakings, when as long a period has passed over them, can show results equal to those of the Public Trust Department. The experiment by which New Zealand statesmen have given an object lesson to their Australian neighbours may or may not be a good thing to imitate, but is well worth observing. The article continues : —“ There is a taking air about the argument that a State Trust commands confidence among investors abroad. This may be so, but more responsibility devolves upon those who have to invest sums thus attracted. Nor must the risk be overlooked that attends the public management of large trust funds, or the fact that it offers temptations to experiments with other people’s money. It is a noteworthy fact that in New Zealand and Victoria the source of Credit Foncier loans is to be found in the Savings Bank deposits or Public Trust moneys.”
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Bibliographic details
New Zealand Mail, Issue 1205, 5 April 1895, Page 33
Word Count
203PUBLIC TRUST OFFICE. New Zealand Mail, Issue 1205, 5 April 1895, Page 33
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