DOMINION CREDIT

Waihi Daily Telegraph, Volume XXXVI, Issue 9061, 20 April 1937, Page 3

DOMINION CREDIT

ATTACK BY ' EVENING STANDARD ' "RUMOUR-MONGERING" REPLY BY LABOUR NEWSPAPER Australian and N.Z. Cable LONDON, April IS. ; | New Zealand stocks suffered small . ! declines as the result of the attack : j by the "Evening Standard" on tho . j Dominion's finances, which the j "Financial News" describes as "un- [ fortunate rumour-mongering for which there is little call in view of the statement of Sir Austin Harris, chairman of the National Bank of New Zealand, last July." Mr Waltar Nash has gone to Berlin, and is unable to reply to further attacks from the same paper on Fri- i day, extending over a column. I The "Daily Herald" City editor j devotes an equal amount of space ..o I refuting assertions that there is no justification for purchasing New Zealand Securities at the present prices, but, on the contrary, that they should be sold. >, The "Herald" says the New Zealand Government's measures, so far from impairing New Zealand's credit, have improved it. There has been a sharp movement of capital to New Zealand. Butter is the crux of the situation, the paper continues, adding that if farmers are assured of a good price the Government's 40-hour week and public works programme can safely be carried out.