AUSTRALIA'S WAR DEBT
,£7,000,000 OF LOANS REDEEMED. In inferring a few days ago to the Second Peace- Loan, the, Federal Treasurer (Sir Joseph Cook) said: "Nearly ftfe whole .625,000,000 which is now' being borrowed is to be spent on soldier land seH'loniint and war service homes. We have already redeemed X7.00f1.000 of the loans raised. Of this .£7,000,000 just on ,£3,000,000 lias come out of-.toe sinking fund which has been, built up liy contributions from revenue. We have, also in the sinking fund nfc the present timo ,£1,750,000, which can be used only, for the redemption of war loans, and which has been'paid to tlvo sinking fund from revenue. Up to June 30 last over -,£70,000,000 of war expenditure has been paid out of revenue. Of <• the expenditure out of war loan funds to June 30 last nearly ,£17,000,000 is repayable by soldier land settlers and those for whom war service homes have been built. In addition, nearly the whole of the ,£25,000,000 now being raised will be similarly repatd. JTone of these repayments will go fo the revenue account."
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Dominion, Volume 14, Issue 2, 28 September 1920, Page 4
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180AUSTRALIA'S WAR DEBT Dominion, Volume 14, Issue 2, 28 September 1920, Page 4
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