AUSTRALIAN LOANS
DRASTIC REDUCTION.
[BY CABLE —PRESS ASSN. —COPYRIGHT.] CANBERRA, June 12. A further statement has been issued by the Federal Loan Council, in which there is emphasised the impossibility of raising any loans for Australia in London at least before next December. Hence the decision to raise ten millions on the local market. '
The accounts for the Commonwealth and the State Governments for the current financial year disclose a total deficit of approximately nine millions sterling. The total loan expenditure, which for the last financial year amounted to forty-four millions, has been cut down to twenty-four millions.
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Greymouth Evening Star, 13 June 1930, Page 7
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98AUSTRALIAN LOANS Greymouth Evening Star, 13 June 1930, Page 7
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