AUSTRALIAN LOAN

Southland Times, Issue 21271, 18 December 1930, Page 7

AUSTRALIAN LOAN

SUCCESSFUL ISSUE FULL AMOUNT REQUIRED IN HAND VICTORIA HEADS LIST (United Press Assn.—By Telegraph—Copyright.) (Rec. 8.25 p.m.) Sydney, December 17. The Commonwealth £28,000,000 loan closes to-day. An official announcement to this effect was made after the receipt of advices from all the States, which showed that the full amount required had been subscribed.

Victoria made by far the largest number of applications and heads the list. The figures up to last night showed that Victorian applications numbered 43,808 and the amount subscribed to the loan was £12,538,720. In New South Wales there were 17,715 applications, the subscriptions totalling £7,642,040. , In the Federal House of Representatives, the Leader of the Opposition, Mr Latham, expressing gratification, said he hoped the result of the loan campaign would restore confidence in Australia generally and thus make possible the first step towards emergence from the depression. He added that if the Federal Government would make a definite declaration against repudiation and inflation, no doubt unemployment would rapidly decrease. COMMENT BY LONDON TIMES. (Rec. 12.30 a.m.) London, December 17. The Times says that the success of the loan shows that the Australian people have faith in the future and do not believe there is any danger of repudiation or even inflation. Hie result should make Mr Scullin’s position less difficult and also encourage those other sturdy fighers, the Labour Premiers of Victoria and South Australia.