LOAN PACT.
UPSET IN AUSTRALIA. N.S W. CABINET CUTS LOOSE. (Austritlian and N.Z. Cable Assn.) SYDNEY, August 10. As the result of a eonterencc between Mr. Lang and Dr. Puge, the former announced the reasons t<>’ the New South Wales Government’s withdrawal from the L<x>n Corned. He said that by joining the Council, New South Wales might and probab ly would be placed in a position of not obtaining the amount requ'red each year for financing publie works : fhati any limitation placed by the Lbnn Cminoil on borrowings would considerably hamper the Treasurer and seriously affewt the State Government's <lcve’oi»mental police, much to the detriment of New Sorth Wales-, that in order to finance large organisations in New South Wale’, the Treasurer must lie ortned with absolute freedom in raising loans. Mr. Lang sues tliat the onlv favourable reason for placing the management of loan business under control of the Loan Council is that it could avoid competition by States, bnt this advantage was outweighed by the above reasons.
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Bibliographic details
Grey River Argus, 11 August 1925, Page 5
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169LOAN PACT. Grey River Argus, 11 August 1925, Page 5
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