THE AUSTRALIAN LOAN
SYDNEY PAPER'S COMMENT. AMERICA A SHREWD CREDITOR. Press Association—By Telegraph—Copyright. -SYDNEY, July 14. The Daily Telegraph, in a leading artieio commenting on the proposed American loan, says: "It will bo 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 our borrowing has been a family affair. It is now proposed to pledge the assets > of Australia to a foreign money-lender." _ After dealing with the possible disabilities of a small nation being in debt to a large nation, and the chances of the stipulations which may be imposed clashing with Imperial Preference or the interests of present bondholders, it adds: "No -one will deny that, other things being equal, it would be better to continue transacting local 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 war time, and it may be supposed that her anxiety to lend money to Australia is not all due to altruistic motives."
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Bibliographic details
Otago Daily Times, Issue 19532, 15 July 1925, Page 7
Word Count
191THE AUSTRALIAN LOAN Otago Daily Times, Issue 19532, 15 July 1925, Page 7
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