AUSTRALIAN LOAN.

Hokitika Guardian, 14 July 1925, Page 3

AUSTRALIAN LOAN.

[Australia it N.Z. Cable Association

NO CAUSE FOB A EA.Ii.M. ’ LONDON. July 12. The “Daily Telegraph’s" weekly lilt-' uncial review says: The fact, that the Commonwealth hits obtained si loan in the United States should reassure those who were nervous concerning the aut:llinnal demands for our gold. In view of the indigestion from which we are .suffering, as is evidenced by the discounting of file last two Colonial issues, wo see no ground for adverse criticism of Australia’s new departure. On the contrary, we ought to he grateful to America for supplying the Australian needs, providing .stringent measures are taken to prevent American financiers dumping hands lure ns soon as the loan is floated. AUSTRALIAN COMMENT. SYDNEY, July LI. The "Daily Telegraph’’ in a leader commenting on the proposed American loan says it will he hailed with satisfaction by those who think only oi the temporary trade stimulus to he expect ed as a result of so much new money pouring into the country. So far our borrowing has been a familiar affair, hut. it is now proposed to pledge the assets of Australia to foreign moneylenders. After dealing with the possible disabilities of a small nation being in debt to a big nation, and the chances of stipulations which may he imposed, clashing with Imperial preference, or the interest of the present b.iid holders, the paper adds: "No one will deny that other things being equal, it would he better to continue transacting the loan business within the Empire. II the London market cannot supply the money it.' should he raised locally. America, has proved a shrewd credit into the nation she helped in war time, and it may he supposed her anxiety to lend money to Australia is not all due to altruistic motives.”