AUSTRALIAN LOAN

Nelson Evening Mail, Volume LVI, 14 July 1925, Page 2

AUSTRALIAN LOAN

FURTHER COMMENT

(By Electric Telegraph. -Copyright.) ? Australian & N.Z. Cable Association.)

SYDNEY, This Day. The Daily Telegraph in a leader commenting on the proposed American loan says:—lt will be hailed with satisfaction by those who think only of the temporary trade stimulus, to be expected as a result of so much new money pouring into the country. So> far 0111 borrowing has been a family affair, ’ll is now proposed to pledge the assets of Australia to foreign money-lenders. After dealing with possible disabilities of a small nation being in debt to a big nation and the chances of stipulation which may be imposed, clashing will) Imperial preference or the interest of present bond holders, it adds: ‘‘No one will deny that, other things being equal, it would be better to continue transacting loan business within the Empire, if the London market cannot supply the money it should be raised locally. America, proved a shrewd creditor to the nations she. helped in wartime and it may he supposed her anxiety to lend money to Australia, is not all due to altruisie motives.”

A village (diurtiii in Lar.faskme is being moved stofie by stone to •>. r r,i sMe a. mile and a half aw.iy-, says Lie Daily Chronicle It. belongs to Lie dyerted t illage of Gran?, or Kislmg-lo- Grj-r. through which the oi 1 highway runs from Bury to Blackburn. Hie new site is at Holden Wind. fifty years ago Grain' was a thriving village - to-day is is a place of ruins and memories, with roofless mills, an old hall standing empty, ami rows of tenant less houses falling to pieces. This is flue to 'he progress of neighbouring towns. 1 lie Bury and District Water Board aeqiiir ed the village about ,30 years ago bn reservoirs, and eventually the whole ol the property except the parish church and the Wesleyan chapel passed into their possession. Tile local mills were rebuilt at Ilnsliiigdeu and the work people moved too. Grane people have only recently de-