NEW ZEALAND LOANS
MR FORBES’S DECLARATION. APPRECIATION IN LONDON. (United Press Assn.—Telegraph Copyright.) London, July 12. The City editor of the Financial Times says: "There has been quick appreciation of Mr Forbes’s declaration demonstrating that the present state of the law will not be allowed to stand between Dominion borrowers and the rights of bondholders. Had an excuse for a less patently honest policy been sought it could have been found in the circumstances of New Zealand’s trade revenue. Notwithstanding the strain on the Budget no relief is sought in respect to £10,000,000 payable annually to Britain on Government, local body, and private debts. Fortunately just when it is needed the price structure for primary commodities has begun to improve. New Zealand, by the sacrifices it has made in the interests of internal soundness and her external credit status, deserves a brighter future, which seems to be opening up.”
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Bibliographic details
Southland Times, Issue 22067, 14 July 1933, Page 7
Word Count
149NEW ZEALAND LOANS Southland Times, Issue 22067, 14 July 1933, Page 7
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