AUSTRALIAN BORROWING.
LONDON OR NEW YORK? THE GOLD STANDARD. MORGANS MAT ADVANCE LOAN (By Cable.-Press Association.—Copyright.) (Received 12 noon.) LONDON, July 10. The "Evening Standard" says the argument against allowing the Australian loan to be raised in London wa« that it would give the Commonwealth, power to take gold if it desired, because the money was required to meet maturing internal obligations. _It adds that the gilt-edge market is bitterly criticising the policy of sending Australia and New York aa a display of weakness, and the supporters of the restoration of the gold standard are running away at tbe firing of the first shot instead of facing the consequences of a free gold market even at a, certain amount of risk. The J. P. Morgan Company is reticent regarding the proposed Australian loan which it has been reported they would handle. It is said that nothing definite has yet been arrived at. Arrangements arc being made in a very tentative form.—(A. and N.Z. Cable.)
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Auckland Star, Volume LVI, Issue 162, 11 July 1925, Page 9
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164AUSTRALIAN BORROWING. Auckland Star, Volume LVI, Issue 162, 11 July 1925, Page 9
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