THE COMMONWEALTH.
"" <9 ■ YEAR'S WAR EXPENDITURE, £52,000,000. Austral ia*n% and N.Z.. Cable Assn. By Electric ~Teleeriiph-r-C6p.yr!ght. ._ - , MBtfiBOUjRNE, July 31. -In the House of Representatives' the Hon A. Poyntoh announced that 'the war loan expenditure for the current year ' was, estimated at £52,000,000, which left 1 a deficiency of £33,200,000. It was thcreiore proposed to float a Peace Loan of £25,000,000 at 5 percent, but with bonds on the first interest payment, and interest would amount to oi per cent for the whole period pf the loan, the repayment of whicli would Jbe made at par in. 1927, interest to be subject to the Commonwealth income tak, but free of State taxation. If the response proved unsatisfactory the GoVernment would resorfi to compulsion, and those .subjected to compulsion would be liable to a severe penalty in a'ddition to having to subscribe to the loan.
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Bibliographic details
Timaru Herald, Volume CVIII, Issue 16882, 1 August 1919, Page 7
Word Count
143THE COMMONWEALTH. Timaru Herald, Volume CVIII, Issue 16882, 1 August 1919, Page 7
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