ITALY'S EMPTY BOAST.
"Passing Round the Hat" For Foreign Loan. ABYSSINIA'S DEVELOPMENT. (Received 11 a.m.) LONDON, August 28. Signor Mussolini is passing round the hat, declares' the "News Chronicle" City editor and has signed a decree authorising the issue of Treasury bonds in foreign currency for necessary amounts to develop Abyssinia. The boast that Italy was able to exploit her conquest from her own resources was quickly proved empty. The loan will not appeal to the London market as the Foreign Loans Committee could not grant permission, in view of Britain's non-recognition of the conquest of Abyssinia. Similar difficulties will arise in Paris and it is expected that Italy will concentrate on New York despite the fact that Italian bonds there are quoted on a 9 per cent basis. The Italian bonds will have a term of one to three years, but security for repayment is obscure in view of the cessation of publication of Italian Treasury and other statistical returns.
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Auckland Star, Volume LXVII, Issue 205, 29 August 1936, Page 9
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161ITALY'S EMPTY BOAST. Auckland Star, Volume LXVII, Issue 205, 29 August 1936, Page 9
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