N.Z. CREDIT IN LONDON
Malicious Campaign Alleged LONDON NEWSPAPERACCUSATION “REAL TEST WILL COME IF EXPORTS FALL” z (United Press Assn.—Telegraph Copyright) (Received May 18, 11.40 p.m.) LONDON, May 18. Commenting on the failure of New Zealand stocks to respond to the excellent Budget figures, the City editor of The Daily Herald says it is because “certain City, firms, partly inspired by New Zealand financial interests, have for some time been carrying on h malicious campaign against New Zealand credit. “The New Zealand surplus is a fine tribute to the soundness of the Government’s financial policy,” adds The Daily Herald. “Its success is partly the result of a boom in New Zealand exports, especially butter, but if exports fall the teal test of New Zealand policy will come. The Government may have to choose between drastically controlling imports and devaluing the New Zealand £. “The Government’s ambitious pensions plan has inspired politically hostile financial interests, jealous of the Government’s success, to spread rumours injurious to New Zealand credit.”
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Bibliographic details
Southland Times, Issue 23512, 19 May 1938, Page 5
Word Count
166N.Z. CREDIT IN LONDON Southland Times, Issue 23512, 19 May 1938, Page 5
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