AUSTRALIAN LOAN

Dominion, Volume 32, Issue 261, 2 August 1939, Page 13

AUSTRALIAN LOAN

Failure Of Recent Issue Commenting.on the failure of the Australian £6,000.000 loan issue on the London market, the “Accountant” observes it was due to several factors besides the slight indigestion from which the market was suffering after the South African and Ulster issues. “The terms offered, by the Australian Government were generous,” it says, “but investors fear not only that too great a porition of Australia’s indebtedness remains in London, and ought to be repatriated, but also that she fins overborrowed in order to force up a standard of living of her people to a level unjustified by internal conditions. “If Australia wishes again to be a welcome borrower in London, she would be wise to reorganize her finances and further to adopt an active policy of encouraging immigration with a view to increasing the population. Australia is in a difficult strategic position, and should there be a war, the possibility of defeat and forced immigration by a hostile country cannot be entirely ignored.”