AMERICAN DOLLARS

Hawera & Normanby Star, Volume XLI, Issue XLI, 14 October 1921, Page 5

AMERICAN DOLLARS

THE QUEENSLAND LOAN

MR THEODORE EXPLAINS

8Y CABLS—PBBBB A3WUATIOIT—COPYaXOHX

BRISBANE, Oct. 13. In the Assembly, Mr Theodore (the

Premier), explaining the American j loan, said the Government was disinclined to break away from the traditional lines of borrowing overseas, but as London financiers were influenced apparently by political considerations and had made np their minds to keep Queensland off the London market, and as there was insufficient local money offering, the Government had decided to accept an American offer, which was made through the Commonwealth Bank and under the advice of the governor of that bank. He estimated the cost of the loan would work out at less than 6 per cent. Arrangements had been made for the loan to be invested in London and drawn upon as required.