DOMINION FINANCE

Otago Witness, Issue 3525, 4 October 1921, Page 22

DOMINION FINANCE

MR MASSEY OPTIMISTIC. AMERICA WILLING TO LEND. AX CKLAND, September 30. In a speech at the civic reception, Mr Massey, who was accorded a most cordial reception from a well-filled hall, referred to the present financial depression. He said much had been done, but much remained to bring the country back to its pre-war prosperity. Ihe country was going to get through, but, to get through at the earliest time it would he necessary for every section to apply all the industry, resource, and power of economy possible, both privately as well as publicly. .After looking at other countries, he said no country which had taken part in the war had gone through so well" as New Zealand. They had got through the first winter of post-war depression, and he hoped the country would be able to turn tho corner before next winter, to which all European countries were looking with dread. There were no better judges of prospects than financial people in London, and. he could tell them New Zealand credit now was higher than that of any other country except Great Britain, and it was but little lower than that of Great Britain itself. -(Applause.) If it was necessary to ask for more money he was satisfied it could he got within the British EmPire, although ho had reliable information that financiers in Wall Street (New York) would bo glad to lend New Zealand any money required at current rates. He did not think it would be necessary to go outside the Empire for financial assistance. Sir Fancis Bell in endorsing the Mayor’s welcome to his chief, stated he was glad to speak, finally as Acting Prime Minister, and to assure Mr (Massey that in his absence be had held the confidence of his colleagues, who were all proud of the place he had taken among the statesmen cf the Empire. Mr Massey had always risen to the occasion, and those who had been most intimately connected with him knew how he had grown in versatility and statesmanship, as he had risen from private citizenship to bis present great, place. “lie is here ready to take charge, and we who have been his lieutenants in his absence, X assure you, we welcome his return.” concluded Sir Francis amidst applause.