AUSTRALIAN FINANCE

Southland Times, Issue 19124, 17 December 1923, Page 5

AUSTRALIAN FINANCE

FUNDING THE WAR DEBT. (By Telegraph—Press Assn.—Copyright.) (Australian and N.Z. Cable Association.) LONDON, December 14. Addressing the London Bankers at a dinner given in his honour by the Westminster Bank Mr S. M. Bruce (Premier of Australia), announced that he was negotiating with the British Government for revision of the terms of the funding of Australia’s war debt, including the rate of interest charged. He said he had pointed out that the terms were a little harsh and the request was founded on principles of equality which could not be overlooked. Britain had funded her debt to America on very much more advantageous terms. Mr Bruce stressed the fact that every future Australian loan would carry a minimum sinking fund of ten shillings per cent. He felt confident they would be able to continue to carry out loan operations in London though receiving most alluring offers from elsew’here. Australia to-day offered the greatest opportunity of any country in the world. AMERICAN MONEY MARKET. PROBABLE EXPLOITATION BY AUSTRALIA. NEW YORK, December 14. (Received December 16, 5 p.m.) Mr R. MacKinnon (Australian Commissioner), speaking at the New York -Bond Club, which is composed of prominent bankers and financial magnates, spoke interestingly on the subject of Australian foreign and internal indebtedness, enlivening the discourse with humorous anecdotes of his personal experiences which the audience listened to w’ith very keen attention and amusement. They appeared much interested in hints which the Comznisrigner threw out respecting the possible Ration, in the near future of a further Australian loan in New York, especially in connection with the forthcoming visit bjre of the Premier of Queensland.