FINANCIAL POSITION
WAITING ON LONDON LOAN. PUBLIC WORKS EXPENDITURE PROCEEDING. (Special to the Times.) WELLINGTON, June 18. Sir Francis Bell stated about a fortnight ago, when making a statement regarding relief works, that he intended later to make de toiled explanation of the condition of public finance. This second statement has been withheld and apparently will not make its appearance for some time yet. The fact is that New Zealand finance at present is dependent largely on the success of Mr Massey’s loan operations. There is every good reason to believe 4hat the loan will be raised, but if there is a hitch the Government will be forced to retrench much more drastically than it has yet done. Public Works expenditure is still proceeding at the rate of £300,000 per month and if the loan money does not become available this rate cannot be maintained.
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Bibliographic details
Southland Times, Issue 19256, 21 June 1921, Page 2
Word Count
145FINANCIAL POSITION Southland Times, Issue 19256, 21 June 1921, Page 2
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