OVERSEAS SECURITIES
PURCHASE BY GOVERNMENT DR McMILLAN’S SUGGESTION PAYMENT IN DOMINION CURRENCY (From Our Parliamentary Reporter) WELLINGTON, July 2p. . An inquiry whether the Prime Minister (Mr Savage) would‘consider adopting a proposal to compel New Zealand holders to sell their overseas securities to, the Government, payment being made in Dominion currency, to assist in meeting the loan falling due next January was contained in a question of which Dr D. G. McMillan (Govt., Dunedin West) gave notice in the House of Representatives to-day. Dr McMillan will ask whether the Prime Minister has seen an article in the London Financial News of May 26 explaining how Great Britain obtained overseas funds to the extent of £622,000,000 in a time of financial stringency by compelling British holders to sell their American and other overseas securities to the British Government, payment being made to the holders in British currency. He will also ask whether Mr Savage would consider adopting a similar proposal to assist New Zealand to meet the loan falling due next January.
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Bibliographic details
Otago Daily Times, Issue 23866, 21 July 1939, Page 6
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170OVERSEAS SECURITIES Otago Daily Times, Issue 23866, 21 July 1939, Page 6
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