OVERSEAS CONTROL.

Waikato Times, Volume 118, Issue 19758, 13 December 1935, Page 9

OVERSEAS CONTROL.

(To the Editor.) Sir, —Some time early in September I wrote to a relative in the south who was out here on a visit and aslced him how it was, as Labour speakers said, the money interests at Home ruled the Dominion. Unfortunately I 'did not keep his reply, but to-day I came across a statement on very similar lines. It read: "New Zealand bonds are sold in the open market. Those who take them up are mostly thrifty people who want a safe investment. They arc only concerned about whether the country whose bonds are for sale is able to export sufficient goods to Britain to pay for its own imports and pay interest on the money it borrows. If tlaosc conditions arc satisfactory, people will have confidence, and that country will be able to borrow at a reasonable rate of interest, j Those who buy such bonds —or, in J other words, those who lend their money to overseas Governments — j have never had any say in how such j Governments have managed their own affairs, nor is there any means by which they could exercise any such j control. It was only an empty phrase, another bit of propaganda.”—l am. ' etc., R. POVALL. I Hamilton, December 12.