8.—19

Session 11. 1923. NEW ZEALAND.

AGREEMENT FOR FUNDING CERTAIN ADVANCES MADE BY THE IMPERIAL GOVERNMENT DURING THE WAR.

Laid on the Table of the House of Representatives by Leave.

(New Zealand, No. 217.) My Lord,— Downing Street, 20th October, 1922. With reference to my despatch, No. 146, of the sth August, I have the honour to transmit to Your Excellency, for the information of your Ministers, the accompanying copy of a Treasury minute of the 4th October, covering an agreement dated the 6th September on the subject of the funding of certain war indebtedness. I have, &c, Winston Churchill. Governor-General His Excellency the Right Hon: Viscount Jellicoe, G.C 8., 0.M., G.C.V.0., <fee.

Treasury Minute dated 4th October, 1922. The Chancellor of. the Exchequer states to the Board that the Hon. Sir James Allen, X.C.8., High Commissioner in London for the Dominion of New Zealand, having been appointed to represent the Dominion, and Mr. 0. E. Niemeyer, C.8., having been appointed to represent His Majesty's Treasury, have arrived at an agreement, dated the 6th September, 1922 (of which a copy is attached to this minute) on the subject of the funding of certain war indebtedness of the Dominion to the Imperial Government. The Chancellor of the Exchequer recommends that this agreement be approved. My Lords concur. Memorandum oi Agreement made this 6th day of September, 1922, between 0. E. Niemeyer, Esq., C.8., acting for and on behalf of the Government of the United Kingdom (in this agreement referred to as " the Imperial Government "), but not so as to incur any personal liability, of the one part, and the Hon. Sir James Allen, X.C.8., acting for and on behalf of the Dominion of New Zealand (hereinafter referred to as " the Dominion "), but not so as to incur any personal liability, of the other part. Whereas the Dominion is indebted to the Imperial Government in respect of certain moneys lent by the Imperial Government to the Dominion during the war: And whereas it is expedient that an agreement be made between the Imperial Government and the Dominion as to the manner and time of repayment of the said indebtedness to the extent set out in the First Schedule hereto, and the rate and time of the payment of interest thereon : And whereas it is expedient that the agreement shall not apply to the debt set out in the Second Schedule hereto :