FEDERAL FINANCE SYSTEM
LOANS ABROAD CURTAILED. EFFECT OF BANKS’ AGREEMENT. By Telegraph—Press Assn. —Copyright. Sydney, August 12. In an address on the economic situation at Epping, the Treasurer, Mr. B. S. B. Stevens, said: “The agreement made with the banks means that we shall not be able to raise any further loans abroad for public works and services for some time, and we shall be thrown on our own resources for capital development. “As from September next the Governments will be required to transfer to London credits at the rate of approximately £3,000,000 per month to satisfy our external debts.”
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Taranaki Daily News, 13 August 1930, Page 15
Word Count
100FEDERAL FINANCE SYSTEM Taranaki Daily News, 13 August 1930, Page 15
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