FEDERAL FINANCE

Gisborne Times, Volume LXX, Issue 11125, 7 February 1930, Page 5

FEDERAL FINANCE

RUMORED POSTPONEMENT OF INTEREST AB0A1).

DENIALS BY PREMIER AND TREASURER.

United Press ABsn. by El- ’"el. Coiiyiiffht (Received Feb. 6, II p.m.) * > CANBERRA, Feb. <>. Vigorous denials are given by the Prime M inister and : Mr. Theodore to-day to rumors cabled lrojn London yesterday that tho Common wealth and the .Status were contemplating the postponement of interest payments abroad. Mr. Theodore, Federal Treasurer, added:—“I have not heard of the rumor, which has nu foundation whatever. There has been no consideration of such a. subject by the Commonwealth or the States.”

CANBERA, Feb. 0.

A further joint statement to-niglit by Mr. Soullin and Air. Theodore said it. was unthinkable that Australia intended to postpone her interest payments, which would be met with unfailing regularity and promptitude in the future as in the past. Tho exchange position would be much alleviated by tho action agreed upon between the Commonwealth and the Australian trading banks for the immediate export to London of a considerable sum in gold. The statement also referred to the possibility of Australia seeking funds in oVersoas markets to cover portion of the loans maturing in Australia during the present year. It hud always been the policy of Australia to deal with local loan* without recourse to external markets, and that policy would bo followed or tin’s occasion.