THE COMMONWEALTH.

Press, Volume LVII, Issue 17061, 4 February 1921, Page 7

THE COMMONWEALTH.

SENATOR MILLEN'S MISSION. ' % IMPORTANT RESULTS. (By Cable—Press Association—Copyright.) (Australian and N.Z. Cablo Association.) (Received February 3rd, 5.5 p.m.) LONDON, February 2. Senator Millen has completed an agreement with Mr Chamberlain for the fundfng of ninety .millions of Commonwealth indebtedness, including war loans and military debts, for periods ranging from twenty-six to _ thirtyseven years. The interest "will rang© from 3J to ,5 per cent, plus 1 per cent " I Mr l 'lliHen,* interviewed by_ the Australian Press Association, said he was satisfied with the results of his mission, including the Geneva Conference, the Commonwealth loan, funding the Commonwealth indebtedness, and unit Geneva mandates were obtained which protected Australian interests m the mandated territory, while measures had been taken to secure a more equitable distribution of the costs of the League of Nations under which. Australia would benefit substantially. _ The Commonwealth loan was satisfactory in view of the market conditions. Regarding the Commonwealth indebtedness to the British- Government, an agreement had been, completed with the Treasury which he was confident Australia wotild regard as eminently satisfactory. Briefly, it relieved the Commonwealth of any immediate cash while the funding of the principal debts aggregated over ninety millions, and included a number of borrowings obtained in the earlier periods of the war. The organisation of immigration was practically settled on the lines of anunderstanding between the Commonwealth and the States, and the scheme would become operative at a few days' notice. The Empire Parliamentary Association entertained Mr Millen to luncheon in tho House of Commons. Lord Milner presided and proposed the toast of Mr Millen. Others present were:—Mr Balfour, Colonel Amery, Lord Burnham, Lord Emmott, Marquis of Lincolnshire, Colonel Seely, Colonel Owen, Sir Percival Phillipps, and Sir* Joseph Ward.