COMMONWEALTH LOAN

Evening Star, Issue 20670, 18 December 1930, Page 13

COMMONWEALTH LOAN

FULL AMOUNT SUBSCRIBED VICTORIA HEADS THE LIST Pros? Association—By Telegraph—Copyright. SYDNEY, December 17. Tlio Commonwealth £28,000,000 loan will be closed to-day. An official announcement to this effect was made after the receipt of advices from all the States, which showed that the full amount required had been subscribed. Victoria made by far the largest number of applications and heads the list. The figures up to last night showed that the Victorian applications numbered 43,808, and the amount subscribed to the loan is £12,538,720. In New South Wales there were 17,715 applications and the subscriptions totalled £7,642,040.

WILL HELP TO RESTORE CONFIDENCE CANBERRA,. December 17. Treasury officials announced that the conversion loan was closed this afternoon, the amount having been fully subscribed. Mr J; G, Latham, Leader of the Opposition, in expressing gratification, said ho hoped that the result of the loan campaign would restore confidence in Australia generally and thus make possible the first step towards emergence from the depression. He added that if the Federal Government would make a definite declaration against repudiation and inflation no doubt unemployment would rapidly decrease.

COMMENT BY ‘THE TIMES* LONDON, December 17. ‘ The Times * says: “ The success of tho loan shows that the Australian people have faith in the future, and do not believe there is any danger of repudiation dr even inflation. The result should make Mr Scullin’s position less difficult and encourage those other sturdy fighters, tho Labour Premiers of Victoria and South Australia.