LANG'S DECISION TO DEFAULT
DISASTROUS TO AUSTRALIA'S CREDIT
PAINFUL BLO¥/ TO BRITISH PARLIAMENT
(Received 28th March, 11 a.m.)
LONDON, 271h March
In the House of Commons Mr. Leopold. Amety (C.) asked iYlr. j. W. Thomas, SccreLary for Dominions, whether he proposed any action in view of ihc New South Wales Government's decision to default. ? Mr. Thomas replied: "I am sure 1 am interpreting the sentiments of all sections of the House when I say that the attitude of Now South Wales has caused painful surprise. I have asked ihc High Commissioner to communicate in respect to it, in view of the disastrous effect on Australian credit which will arise." Mr. Thomas added that the British Government had no financial liability for the loans, which were solely a matter for the Commonwealth and State Governments on the one hand and private bondholders on the other "But," he said, "we cannot be indifferent to the most serious repercussions which will follow a breach of obligations by any State." The Minister promised a further statement on Monday as the result of information from Sir Granville Ryrie, Australian High Commissioner.
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Bibliographic details
Evening Post, Volume CXI, Issue 74, 28 March 1931, Page 9
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186LANG'S DECISION TO DEFAULT Evening Post, Volume CXI, Issue 74, 28 March 1931, Page 9
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