TREASURY BILLS
MINISTER EXPLAINS. [Per Press Association.] WELLINGTON, Dec. I. On behalf of the acting-Minister of Finance, Sir Apirana Ngata, in referring to the issue of £600,000 Treasury bills in London appearing in the cable news, points out that the issue of these bills has no relation whatever to the loan operations of the Government.
. These bills were issued in anticipation of a revenue contingency that generally arises at this time of the year when the Consolidated Fund has not received revenue from income tax. The bills mature on March 14, 1931, an-1 therefore will be paid off before the end of the financial year. The proceeds are to be used for general payments in London, such as interest, etc. The terms on which the bills were sold at a discount of £2 3s 9d per cent., compare favourably with the issue of Imperial Treasury bills on the same day at the rite of £2 2s 11 u per cent.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/WC19301202.2.54
Bibliographic details
Wanganui Chronicle, Volume 73, Issue 438, 2 December 1930, Page 7
Word Count
160TREASURY BILLS Wanganui Chronicle, Volume 73, Issue 438, 2 December 1930, Page 7
Using This Item
NZME is the copyright owner for the Wanganui Chronicle. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.