DOMINION DEBT.

Western Star, 1 April 1920, Page 2

DOMINION DEBT.

A STARTLING COMPARISON. Two years ago the net indebtedness of New Zealand per head oif the population was £132 Ca 8d; that of France was £94 3s 4d, of the United Kingdom £Bl 9s 2d), and of Australia £57 Os Bd. That a, study of that comparison may stimulate production in this country is the hope of a committee of Christchurch business men. At a meeting held in that city on Thursday (the Sun reports) the provisional oolmanittee of the proposed New Zealand National Exhibition received the report of a sub-committee, which expressed the opinion that a clear statement of the Dominion’s indebtedness, compared) with that of other countries, might he the means of fostering a greater industrial productive effort in New Zealand. The following comparative table was’ sub- - matted;

The sub-committee further pointed out that in 1917-18 the total imports into New Zealand were valued at £l9 Os 8d per head of the population, while the imports into Australia amounted to only £l2 6s 6d per head. And whereas the exports from Australia amounted to £ls 4s, Id per head of population, the value of New Zealand’s exports was almost double that figure per inhabitant. The committee contended that these figures showed that New Zealand should reduce national indebtedness by using raw materials in local industries. v

Year. Country. Debt per Head. 1917-18 New Zealand £132 0 8 1917-18 Australia 57 0 8 1917 United Kingdom 81 9 2 1917 United States 8 9 4 1917 France 94 3 4 1917 Italy 29 11 0 1917 Russia 13 10 10 1917 Germany 51 5 U