The Hawera Star. SATURDAY, DECEMBER. 20, 1930. AUSTRALIAN LOAN.

Hawera Star, Volume L, 20 December 1930, Page 4

The Hawera Star.

SATURDAY, DECEMBER. 20, 1930. AUSTRALIAN LOAN.

Delivered every evening- by 5 o’clock in Hawera, Manaia, Kaupokonui, Otakeho, Oeo, Pihama, Opunake, Normanby, Okaiawa. Eltham, Ngaere, Hangatoki, Kaponga, Awatuna, Te Kiri, Mahoe, Lowgarth, Manutahi, Kakaramea, Alton, Hurleyville, Patea, Whenuakura, Waverley, Mokoia, Wliakamara, Ohangai, Meremerc, Fraser Road, and Ararata.

The successful flotation by Australia of the £28,000,000 loan is a result upon which Air Lyons (Acting-Federal Treasurer) and Air Eenton (Acting-Prime Alinister) are to be congratulated. Congratulations are no loss due to the people of Australia, who have shown what the responsible section of the community thinks of the demand of extreme Labour for repudiation and inflation. Probably the most-pleased Australian to-day is Air Scullin, who, when he declared in England that “Australia would not repudiate,” knew that there were dangerous forces at work within his own party. He committed himself, to that declaration on liis knowledge of tlie majority of the Australian people, who are not represented by the noisy, extreme element, and the subscription of the loan lias proved that he had not misjudged his countrymen. The terms offered the lenders were, it should be admitted, attractive, but even at the interest rate offered the investment wotdd not have appealed to Australians if they had feared for one moment that

There was any risk of the obtaining control of the destinies of thej Commonwealth. The successful flotation of the loan will help Australia to pay her way and is thus of immediate concrete benefit, but it will bring other benefits in its train, for the confidence of Australians in the future of their own country and their readiness to help themselves, will beget confidence abroad.