AUSTRALIAN BORROWING.
A problem of great interest in Australia, and in some sort to New Zealand, by reason of its intimate relations with the Commonwealth, is the amount of the maturing 4 per cent, war loan for the £67,000,000, which is not likely to be reinvested. As tlie banks have underwritten £60,000,000 out of the total of £67,000,000, it would appear a» if allowance had been made for a difference of £7,000,000. The Federal Treasurer, however, is in so strong a position that he can with ease meet a much larger shortage. Loan conversions .this year, including that announced by the Commonwealth, amount to nearly £126,600,000. With tho £20,000,000 borrowed in London and New York, a total of nearly £150,000,000 is made up. A compilation of the 1025-26 maturities is as follows :— £ ■ Commonwealth .*. 72,422,700 New South Wales 11,782,808 Victoria U,601,0i>0 Queensland ....; .'.......'. 12,021,000 South Australia 9,949,104 Western Australia . 3,656,950 Tasmania 2,015,170 Total 126^449,752 ='■' When the last mail. left Melbourne £3,025,----000 had been subscribed by the public. A conversion of £2,600,000 in ona block was sent into the Treasury by one large, Aus-' trallan institution.
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Bibliographic details
Evening Post, Volume CX, Issue 33, 7 August 1925, Page 9
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183AUSTRALIAN BORROWING. Evening Post, Volume CX, Issue 33, 7 August 1925, Page 9
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