SHYLOCK’S EMBARGO.

Grey River Argus, 9 December 1926, Page 5

SHYLOCK’S EMBARGO.

ON AUSTRALIA. LONDON MONEYLENDERS’ MOVE. LONDON, December 7. It is understood that following the recent difficulties connected with Queensland and New South Wales loans, city men are suggesing in future that State loans should bo excluded from thc trustee list unless they ar e guaranteed by the Commonwealth. They point out that State loans were ordinarily included in the list prior to the federation. The situation has since been completely altered. They express the opinion that if State loans were not included in the trustee list, they would obtain very scanty city support, and the States would therefore be compelled to apply foi Commonwealth sanction, thus obviat ing the necessity for repeated investigations into the finances- of individual States, which is very difficult at this end. “The impossibility of striking off tile present issues i s fully realised.’ said one authority. “Tim suggestion bristles- with technical difficulties but the effect would be salutary. There are too many State loans floated here.”