QUEENSLAND LOAN.
HIGHER INTEREST NECESSARY By TelOßraph-Pross Association-Oopyriteht (Rco. July 5, 9.50 p.m.) Sydney, July 5. The Premier, Mr. Donliam, in moving tho suspension of tho Standing Orders in tho legislative Assembly to-day, with a view to dealing with tho State loan j>roposnls, said it was intended to float a loan of .£2,500,000. Tho Government's financial advisers recommended a higher rato of interest to ensure n successful flotation, and it was therefore proposed to pass a Bill to increase tho interest from 3J per cent, to i per cent. Tho financial position of the State was excellent, and justified paying a higher into. It was also proposed to paS3 a Bill authorising tho issue of Treasury bills with five years' currency in the event of the market not proving responsive to a longdated loan.
Mr. Bowman, Lender of the Opposition, declared that the Government's extravagance did not warrant the Opposition helping to rush Bills through. He moved to fix tho rato of interest at 8} per cent.
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Dominion, Volume 5, Issue 1485, 6 July 1912, Page 5
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167QUEENSLAND LOAN. Dominion, Volume 5, Issue 1485, 6 July 1912, Page 5
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