GOVERNMENT LOANS

Wairarapa Daily Times, Volume 46, Issue 14143, 14 June 1920, Page 5

GOVERNMENT LOANS

£2,000,000 RAISED LOCALLY. TO BE- RENEWED SHORTLY. A definite decision has not yet been made, stated the Prime Minister on Saturday, in regard to the ; method ot renewing the Public W orks loan of &-,* 000 000, floated in New 'Zealand 'in 191.-),' which- will mature within the next few months. If was proposed, however, that the holders should be allowed to renew on the same terms 44 per cent free’ of . income tax—or to convert into the new loan at u per cent without freedom from taxation. He anticipated no difficulty in regard to the renewal. £10,000,000 LOAN. WILL COMPULSION BE USED.' In reply to a question, Mr Hassey stated that Cabinet had out yet tu lj considered the point whether the Gov-ernment's'-compulsory borrowing powers would be exercised m connection with the ten pillion loan' lie ' rceen.ly foreshadowed. It was not possible, he> added, to speak definitely when the financial situation was changing Horn davito day, but he indicated that con - puisory powers, if used at all, shou t be used with the greatest carC. His inclination', as he had indicated, on. a previous' occasion, to JCcitsC using the compulsory powers. He believed that compulsion would not be neeesswv ■■ i"■ ■ : .’