AUSTRALIAN FINANCE.
LONDON JOURNAL'S ATTACK.
i HIGH INTEREST ON LOANS. United Press Association—Copyright). (Received This Day, 9.15 a.m.) LONDON, June 18. General uneasiness as to the future ,of the gilt-edged market, , which many contend has already passed its zenith, caused the "New Statesman" bitterly to attack the Australian Government. The journal declares: "Mr Lyons may be telling Australia, that the conversion loan has been wondeii'ully successful. Actually he should confess defeat and warn the people of the financial clangers ahead. It is criminal that Australia is not converting her; debt into long-term issues at lower interest. Australian statesman dare not tell the electors , that long-term issues cannot be raised in London at a better rate than 4i, therefore they are taking refug© in short-term, issues, dealing piecemeal with high interest loans, which, for Australia's good, should immediately converted at the best rate available. The authorities are merely piling up trouble five years hence, when moiiey mav be dearer and the seasons bad." , !
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Ashburton Guardian, Volume 53, Issue 211, 19 June 1933, Page 5
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162AUSTRALIAN FINANCE. Ashburton Guardian, Volume 53, Issue 211, 19 June 1933, Page 5
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