THE PREMIER AND THE LOAN.

Otago Daily Times, Issue 12601, 3 March 1903, Page 6

THE PREMIER AND THE LOAN.

(PEit United Press Association.) BLENHEIM, March 2. Interviewed in Blenheim about the failure of the colony's new loam, Mr Sotldon said that to uso Australia's temporary adversity through drought as a weapon against New Zealand gave food for refloclion. The British investor.; hud cut the first strand of tho financial painter, and that without warning. Cable-cutting during war might naturally be expected from tho enemy, but the. severance by tliosn on whom wo relied caused more- than passing regret. What had happened does not redound to tho geographical knowledge or say much for the British investors' knowledge of the finance of this colony and its commercial and general prosperity. The Government acted on good advice, and presumably tho underwriters did not foresee that the investing public would hold aloof. If one could have foreseen what was going to happen he should not have announced the loan, as there was no pressing necessity for money, seeing that there were considerable moneys in hand from over-the-counter sales. The failure of the British investors to subscribe to our loan whilst regrettable, caused him no anxiety. Those who 'had done injustice would rectify it in due course.