THE NEW EXCHEQUER BOND ISSUE
HIGH RATE UNDER CRITICISM. -'■ (Router's Tfllewam.) (Rec. October 19, 3.30 p.m.) - ' London, October 19. ' In the House of, Commons, replying to criticism regarding the high rate of .■., interest paid in the new Treasury ■•', Bonds, Mr. M'Kenna (Chancellor of the Exchequer) declared that pre-war standards could not he applied to the present situation, owing to tho immense sums which were required. Ho in- .'. stanced.the fact.that we were paying two millions sterling to the. united ''.'. States every working day.. That looked an impossible task, but we accomplished it, and there was no reason to suppose --.that wo would notcontinueto accomplish it. . Hence the necessity for raising money in tho United States. He .that £36,000,000 of the new 6 per cent. Exchequer Bonds had been •'• / sold'in a fortnight. The present moment was unfavourable for a long-term loan.
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Dominion, Volume 10, Issue 2908, 21 October 1916, Page 10
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139THE NEW EXCHEQUER BOND ISSUE Dominion, Volume 10, Issue 2908, 21 October 1916, Page 10
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