The Manawatu Standard (PUBLISHED DAILY.) Survant la verites MONDAY, JANUARY 29, 1883. OUR LOAN.

Manawatu Standard, Volume 3, Issue 55, 29 January 1883, Page 2

Manawatu Standard (PUBLISHED DAILY.) Survant la verites MONDAY, JANUARY 29, 1883. OUR LOAN.

THE'ifollowing are the. remarks : of the Insurance and Banking Record of llth Janunryi 1883, respecting our Govern~ men t's action regarding- bur 'loan : — "lt is telegraphed from London (January 3) that an official anndunceme t has been made to the effect that tenders fur the New Zealand" loan ;of £ 1,000,000 at 4 per cent per annum, will be invited to-day (llth) at a minimum price of £98 :10s. i It will be observed that the date for opening tenders is two days latter than that announced for the Victorian .loait' The publication of the limit, which is 1£ per cent under the Victorian limit, at this juncture bears an unpleasant aspect. It looks like an attempt to jostle, and it is the first time m the history of colonial loans that a proceeding of so sinister an appearance has occurred. The enforced abstinence of the , New Zealand Government from offering .lpatis in.' the) London market expired on 31st December, so that no time had been lost by its London representatives. There would have been nothing to caril at if the announcement had been delayed until after the Vici torian tenders were m, and that would 'have done away with the appearance of an astute attempt to forestall the market by underselling a sister ...colony.? Thus, an exchange makes, reply : Bo far as we understand, the New Zealand Government had no knowledge what* ever ot the Victorian Government's action regarding its loan* -As a tnatter of face, when* the .loan "Bill was^betore the House it was generally understood that the lo^an would be, put upon the market someitime m January. Under the circumstances the above reflections ,are ill-advised and uncalled for. How« ever gratifying the success of the New .Zealand one million loan, as indicating that the credit of JNe# Zealand still stands high m Lqpdon financial^circle*, and, although it cannot be' denied that it has had a reassuring effect commercially, at the same time, the failure of the Victoiian loan is a matter of regret as affecting this colony. Had the Victorian loan been a success, there is no doubt that money would have immedi iely been easier, as it is generally admitted that the present tightness m \ the moneysmarjkeb is due to the restrictive policy of the ' A ustralian "banks. We are, therefore, to a certain extent, . as much interested m the Victorian loan ,as we are m our-o/vn. - '■ '• ' ' ''-'■ ■ ' ' '"' ' ' ' •