DOMINION FINAACES.

Taranaki Herald, Volume LXIII, Issue 144669, 1 May 1915, Page 4

DOMINION FINAACES.

STATEMENT BY MR. ALLEN. PEB PBKSS ASSOCIATION. DUNEDIN. April 30. Regarding the Daily Mail’s reference tq Hie raising of the New Zealand loan in the London markef., Mr. Allen made the following statement to a reporter: ‘‘The Treasury’s approval has been given for a small loan of £200,000 to pay the loan coming duo. which had to he' met. ‘That is the extent of our financial obligations. It is a 4 per cent, inscribed stock loan, and must be raised, so that it will cost the Dominion, after provision for discounts, discharge and redemption charges, at the rate of £ I 10s od per annum. It is a very favourable transaction, and the public need only look at the rates other countries have been paying for money.” Questioned as to the comparative positions, Air. Allen remarked that he desired. without any spirit of boasting, to say that New Zealand stands upon the London market to-day in a sounder position than any other part of the Empire. The situation regarding internal finance is. Air. Allen stated, fairlv satisfactory. It has taken a long time' to gt?t out the balances for the financial year, and the actual result is not available * but he is satisfied that the public may rest assured that when the results arc made known the position, will be very satisfactory. Financial arrangements have been made for the steady carrying on of public works for six months.