AUSTRALIA’S FINANCES
THE UNWELCOME PAMPHLET. NEWSPAPER COMMENT. LONDON, October 8. In connection with the indictment of Australian financial methods contained in the pamphlet issued by Mr. Sydney Cooke and Mr. E. H. Davenport, an article by the financial editor of the “Morning Post" states that apart from it's pamphlet the monthly report of a leading firm of London stockbrokers sets out in detail the Australian loans which wHI mature in 1927. They toflal £118,000,000, of which £27,600,000 represents London loans. The report states it is clear that Australian loans for new works should be withheld if discrimination Is to be exercised in connection with overseas loans an an effect of the coalmine sicppage The writer contines that the "flood of Australian loans in 1927 for conversion purposes can hardly be avoided, but they should be accompanied by full information and sinking-funds. This w'ould help to prevent over-bor-rowing and unsound borrowing. The paper adds that the trustee privilege makes it specially important that the Australian States should not expose themselves to the risk of spoiling their welcome on the London money market.
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Bibliographic details
Manawatu Times, Volume XLIX, Issue 3479, 15 October 1926, Page 2
Word Count
181AUSTRALIA’S FINANCES Manawatu Times, Volume XLIX, Issue 3479, 15 October 1926, Page 2
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