CREDIT OF COUNTRY

New Zealand Times, Volume XLIX, Issue 11305, 2 September 1922, Page 6

CREDIT OF COUNTRY

IMPORTANCE OF KEEPING IT , - “ GOOD. Emphasising last . night the importance of keeping the credit of the country good, the Prime Minister »aid that loans to the amount of £8,902,000 fell due this year, 1922-23. Happily this was; mostly borrowed within the'country, and had already been provided for. In 1924, loans to. the amount of £9,548,000 fell due; in 1925 they amounted to £11,560,000; 1920, £15,494.000; 1927, £4,342,000; 1928, £3,678,000; and m 1929, £12,925,000; or a total of ' £66,452,000 in all, less the nine millions first referred to, had to be provided for within that period. Wo had got to find the money, and unless we kept our credit at the highest possible pitch we would have to pay through the nose. If we could keep it as good as it was now there would be no difficulty about the matter. If not, however, it would oost us hundreds of thousands of pounds more than it ought. He had been anxious that there should be no misapprehension at Home as to our credit when the last loan was being raised, so he had had the main items in the Budget cabled Home to the High Commissioner, tod he had l made, them known in the proper quarters with the result that we all knew.