AUSTRALIAN BORROWING.
Mr; R. H, Caird, chairman of directors ■of the Australian Mercantile, Land, and ,Jfinance Company, is not alarmed by Australian borrowing. In addressing shareholders, he said there had been a good deal of criticism of Australian borrowing, and ,no doubt an excess of borrowed money did induce extravagance on the part of both the Governments and the individuals, but a new and undeveloped land, he pointed out, requires large sums of money to help it along, and there are many directions in which it is only by Governmeiit borrowing that the necessary funds can be secured, For instance, there must be long delay before an adequate return can be earned on railways, docks, harbours, water . conservation, and the like. There was no doubt that the great bulk of the borrowed money, had been well spent and had enormously increased the production of wool, meat, wheat, etc., thus improving the financial position of the borrower and the security of the lender. •
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Evening Post, Volume 105, Issue 4, 6 January 1928, Page 10
Word Count
162AUSTRALIAN BORROWING. Evening Post, Volume 105, Issue 4, 6 January 1928, Page 10
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