NATIONAL CREDIT FALLS
AUSTRALIAN BILLS IN LONDON
FLOATING DEBT NOW £38,000,000
SYDNEY, Deo. 30. A cablegram from London confirms the earlier announcement that the Commonwealth Government is issuing £5,000,000 of Treasury bills, repayable on June 30, at 5 per cent, discount. These bills are to provide for the repayment of bills of a similar amount, discounted in July at 4 per cent. This amount of £5,000,000 is portion of the £38,000,000 of Australian floating debt in London,. The Sydney Morning Herald remarks that the increase in rated discount for the latest issue unfortunately docs not reflect an improvement in Australian credit. The present rate contrasts with £3 0s 2d for a similar amount of bills at the end of last August, while the bills which the issue now suggested will replace were discounted in July at 4 per cent., making an effective rate of £4 Is 7d per cent.
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Bibliographic details
New Zealand Herald, Volume LXVII, Issue 20760, 31 December 1930, Page 11
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149NATIONAL CREDIT FALLS New Zealand Herald, Volume LXVII, Issue 20760, 31 December 1930, Page 11
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