FEDERAL FINANCE.
INVESTORS UNEASY. LONDON, Sunday. The “Morning Post’s” Financial" Editor says a. great shock has been given to holders of trustee securities by Mr Lang’.s repudiation, and it is scarcely surprising that the general question of the responsibility incurred by overseas Governments under the Colonial Stock Act should be raised. The “Morning Post” quotes a correspondent who asks, apropos of Air Lang’s decision, what guarantee there is that a similar crisis will not arise in the future. Ho points out that it is manifestly impossible for the British Government to permit a person of such financial influence as Mr Lang, by virtue of his office, to cause widespread ruin to beneficiaries in what are often small estates. The “Sunday Times” says that the Commonwealth Government has taken up a heavy burden. Clearly the affair cannot be allowed to end here. It is hoped that the electorate in New 'South Wales will take the earliest opportunity to restore the prestige of the State.
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Wairarapa Daily Times, 7 April 1931, Page 3
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163FEDERAL FINANCE. Wairarapa Daily Times, 7 April 1931, Page 3
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