BORROWING IN LONDON.

Taranaki Herald, Volume LXVII, Issue 16503, 2 August 1919, Page 3

BORROWING IN LONDON.

OUT OF THE QUESTION,

By Telegraph—Press Assn.—Copyright. MELBOURNE, August 1. The Auditor-General has returned from a visit to London in connection with loan matters. Ho states that so far as the Empire money market is concerned, he formed the opinion that during the next decade at least Australia would have to look to her own market for cheap money. The prevailing rale in London was 5J- per cent., but owing to tho high income-tax this really means a return of only 3J percent .