STATE LOANS

Northern Advocate, 22 January 1927, Page 5

STATE LOANS

I ‘ OPINION IN LONDON. “GOING TOO FAST." i j SYDNEY, This Day. During the debate on the Approprijation Bi]] in the Legislative Council, j Sir Henry Braddon said that lie had I just returned from a visit to London. jHe believed that Western Australia’s ! credit at the present moment was aevI oral points higher than that of New i South Wales. The first-named State ( had a better record in regard to sinkj ing funds. i Several times he asked the question I in England why they were so uneasy [ about New South Wales. On one oeeaI sion he heard a man high up in the 1 finance give instructions for the pre- | paration of a careful analysis of the 1 borrowing of the States and other countries. He had in his possession an important statement showing the total public issues made between January, 1912, and December, 1926. Canada, had six isi sues, amounting to £27,000,000; South ! Africa, 11 issues, amounting to £53,340,[OOO; the Commonwealth, 13 issues, [totalling £71,250,000; New Zealand, 10 I-issues, totalling £47,500,000; New South 1 Wales, 27 issues, amounting to £117.1919,000; Queensland, nine issues totalling £50,656,000; South 1 Australia, six i issues, totalling £13,200,000; Victoria. 10 Issues, totalling £40,424,000; Western Australia, 10 issues, totalling £20.j 000,000; and Tasmania four Issues, amounting to £5,450,000. [ Sir Henry Braddon added that he I had discussed these figures with on© of ; the leading brokers in England. The i State, he added, was going too fast in i the matter of borrowing.