AUSTRALIA'S WAR EXPENDITURE
BIG PEACE LOAN WITH COMPULSORY CLAUSE. v Melbourne, July 31. Speaking in the Federal House of Representatives, Mr. A. Poynton announced that the war loan expenditure for fho current year was estimated at ,£52,000,000, which left a deficiency of ,£33,200,000. It wns therefore proposed to float a Peaco Loan of ,£25,000,000 at five-,per cent., but with the bonus on fho first interest payment. This would amount to 5i per cent, for tho whole period of tho loan, tho repayment of which would lie mado at par in 1927. The interest would be subject to the Commonwealth income tax, but would be free from Stato taxes. If tho response was unsatisfactory, tho Government would resort io compulsion, and those subjected to compulsion would 1)0 liable to a severe penalty, in addition to the enforced subscription to tho loan—Press Assn. '
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Dominion, Volume 12, Issue 262, 1 August 1919, Page 7
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141AUSTRALIA'S WAR EXPENDITURE Dominion, Volume 12, Issue 262, 1 August 1919, Page 7
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