AUSTRALIAN FINANCE.
A PEACE LOAN. By Tiiegrikpa—Pr*M Association—CopyriglsV Australian «tad •-N.Z. Cable Association. (Received July 31, 11.55 a.m.) MELBOURNE, July 31. In the House of Representatives Mr Alexander Poynton (Assistant Minister) announced that the war loan expediture for the current year was estimated at £52,000,000, which left a deficiency of" £33,200,000. It was therefore proposed to float a peace loan of £25,000,000 at 5 per cent, but with bonds on the first interest payment it would amount to •5 per cent for the whole period of the loan, the repayment of which would be made at par in 1927. The interest would be subject to .Commonwealth income tax, but would be free of State taxation. If the response was unsatisfactory, the Government would resort to compulsion, and those who were subjected to compulsion would he liable to a severe _ penalty, in addition to their subscription to the loan.
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Bibliographic details
Star (Christchurch), Issue 12707, 31 July 1919, Page 5
Word Count
148AUSTRALIAN FINANCE. Star (Christchurch), Issue 12707, 31 July 1919, Page 5
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