Notes of the Day
WHAT BRITAIN LENT LAST YEAR Some very interesting details a.s to Britain’s lendings in 1913 are given in a recent issue of the ‘'Financial Times.”* It appears that in all loans raised in the Old Country last year totalled £118,000,000 —an aggregate that lias been exceeded only on two previous occasions during the past 10 years. The number of public loans and the totals for the last ten years may be stated thus:
As regards 28 of the principal loans, involving nearly £57,000,000, underwriters liad, on the average, to take about 80 per cent. The “Financial Times” goes on to say that 90 of the loans last year, amounting to £85,637.900 wore in account with municipalities, as against• 41, : amounting to £31,597,700 in 1912. Canada was chiefly responsible for the large income last year. State loans in 1913 numbered 83, and covered £32,689,800, while in 1912 the 17 State loans
floated embraced £41,349.500. E'lgiish public borrowings—all by snwdk'l,' local authorities—wore £1,608,300, against £654,800 in 1912. It may further be. stated that the Colonies took £55,000,000, or £22,000,000 more than, in 1912, and the highest yet attained. Of this amount Canada took £23,000,000; India £2,000,000; New South Wales £4,500,000; New Zealand £7,O<K),O(X); Queensland £2,000,000; Sierra Leone £1,000,000; South Africa £4,360,000; South Australia £1,000,000; Tasmania, £1,550,000; Victoria £5,000,000 and West Australia £3,000,000. So far as Canada was concerned the State loans absorbed £9,800,000 and municipal needs absorbed the immense total of £13,97,100. Foreign loans accounted for £61,422,300, against £39,501,900 in the previous year. Brazil was the heaviest borrower, with £17,600,000, and then came the United States with £11,221,700. China accounted for £7,416,700, Hungary for £625,000, Mexico for £6,000,000, and Russia lor £3,303,300
Year. No. Amount. 1904 40 a ... '00,035.000 1905 50 .. ... 88,508.100 1.900 24 .. ... 42,939,000 1907 37 .. 02,300.000 1908 71 .. ... 83.581,800 1909 85 .. ... 107.023,000 1910 64 .. ... 143,343,000 1911 57 .. ... 04,358,900 1912 58 .. ... 72.947,200 1910 129 .. ... 118.327,700
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Bibliographic details
Gisborne Times, Volume XXXVIII, 12 March 1914, Page 4
Word Count
318Notes of the Day Gisborne Times, Volume XXXVIII, 12 March 1914, Page 4
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