NEW ZEALAND DEBT POLICY
APPRECIATION IN BRITAIN.
DESERVES IMPROVED PROSPECT.
By Telegraph—Press Assn.—Copyright London, July 12.
The City editor of the Financial Times says that there was quick appreciation of Mr. Forbes’ declaration demonstrating that the present state of the law is not to be allowed to stand between Dominion borrowers and the rights of bondholders. : ?
Had an excuse for the loss of a patently honest policy been sought it could have been found in the circumstances of New Zealand trade and revenue. Notwithstanding the strain on the Budget, no relief is sought in respect to the £10,000,009 payable annually to Britain on Government, local body and private debts. -•* ■' Fortunately, just when it was needed, the price structure of primary commodities had begun to improve. New Zealand, by the sacrifices it had made in the interests, of internal soundness and, its external credit status deserved the f brighter fortune which seemed to be opening up. ■' ’ , ■ -
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Bibliographic details
Taranaki Daily News, 14 July 1933, Page 7
Word Count
155NEW ZEALAND DEBT POLICY Taranaki Daily News, 14 July 1933, Page 7
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