FLOW OF CAPITAL
AWAY FROM NEW ZEALAND QUESTION IN PARLIAMENT, [Per Press Association] WELLINGTON, Oct. 14. The Minister of Finance was asked in the House of Representatives this afternoon whether he was aware that money w’as leaving New Zealand in amounts that already had reached a large proportion. Hon. P. Fraser, on behalf of the Prime Minister, Hon. M. J. Savage, replied: “The banking figures do not indicate that abnormally large movements have taken place, so there is no truth in the rumour that the outward flow o f money has reached alarming proportions. Sterling funds have gone down, but this is largely seasonal and redemptions of public debt in London have affected the position. In respect to investments in Australia, it must be remembered that a considerable amount of Australian capital has been sent to New Zealand from time to time, and in view of the improvement of trade in that country it is not unnatural that some of these funds should be repatriated. An ebb and flow of funds between New Zealand and Australia for investmen' has been a normal feature for year' past.”
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https://paperspast.natlib.govt.nz/newspapers/WC19361015.2.84
Bibliographic details
Wanganui Chronicle, Volume 79, Issue 244, 15 October 1936, Page 8
Word Count
186FLOW OF CAPITAL Wanganui Chronicle, Volume 79, Issue 244, 15 October 1936, Page 8
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