STATE LOANS TO BANKERS.
INDIA OFFICE TRANSACTIONS. By Telegraph—PreGS Association—Copyright London, November 21. In the House of Commons, Mr. G. D. Faber (Unionist), asked whether, as loans from the India Office to financial institutions were equivalent to making firms a present of 1 per cent, the office would in future deal direct with tho Stock Exchange, and obtain a better return for the money. Mr. Harold Baker, Financial Secretary to the War Office, in replying on behalf of the Government, said loans from tho India reserve were only made temporarily and at times when the reserve was unusually high and could not be lent in the usual way to the banks. The profit on the transaction under notice (a loan to Samuel Montague and Co. -at 2J per cent) was less than J per cent.
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Dominion, Volume 6, Issue 1605, 23 November 1912, Page 5
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135STATE LOANS TO BANKERS. Dominion, Volume 6, Issue 1605, 23 November 1912, Page 5
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