LOAN FOR AUSTRIA.
BRITAIN’S ASSISTANCE.
LONDON, Feb. 8. In the House of Commons the Financial Secretary to the Treasury, Major L Hore-Belisha, moved the Austrian Loan Guarantee Bill, by which Britain becomes responsible for £4,000,000, being her share of the international loan, in return for which Austria has undertaken to abolish progressively exchange and balance her budget. These obligations are being carried out. Members attacked the Bill on the ground that it made it possible for Austria to repay her indebtedness to the Bank of England at the expense of the British taxpayer, and was throwing good money after bad trying to save Austria from bankruptcy when she was doomed to disaster. Sir John Simon said that, while the British Government objected to guaranteeing loans to other States in Central Europe, there were special reasons why financial disaster to Austria would have a greater effect on the credit of Europe than the collapse of adjoining Bill was read a second time without a division.
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Bibliographic details
Manawatu Standard, Volume LIII, Issue 62, 9 February 1933, Page 7
Word Count
164LOAN FOR AUSTRIA. Manawatu Standard, Volume LIII, Issue 62, 9 February 1933, Page 7
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