N.S.W. GOES ALONE.
MR, LANG AND BORROWING
SYDNEY, August 10. As the result of a conference between Mr. Lang (the Premier) and Dr. Earle Page (Federal Treasurer), the former announced the reasons for the New South Wales Government's withdrawal from the Loan Council. He said that by joining the council New South Wales might, and probably would, be placed in the position of not obtaining the amount required each year for financing public works; that any limitation placed by the Loan Council on borrowings would considerably hamper the Treasurer and seriously affect the State Government's developmental policy, much to the detriment of New South Wales; that in order to finance large operations in New South Wales the Treasurer must be armed with absolute freedom in raising loans. Mr. Lang says that the only favourable reasons for placing the* management of the loan business under the control of the Loan Council is that it would avoid competition by Statos, but this advantage is outweisrhed by the above reasons.— (A. and N.Z. Cable.)
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Auckland Star, Volume LVI, Issue 188, 11 August 1925, Page 5
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171N.S.W. GOES ALONE. Auckland Star, Volume LVI, Issue 188, 11 August 1925, Page 5
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