EMBARGO ON LOANS

Hokitika Guardian, 16 October 1925, Page 1

EMBARGO ON LOANS

Australia & N.Z. Cable Association.]

LONDON. Oct. ><!. It is learned that iho embargo on tin Hutution of foreign loans in London, imposed hy the Imperial (iovernmciit. has Irhui suddenly extended to Dominion loans.

A fortnight ago negotiations for the Dotation of Western A u-t ml in n. Soul it Australian and Tasmanian loans had -o progressed that both interest ami prim had been agreed, underwriting arranged. prospect uses drafted and dates nl liotation respectively fixed. New South Wales deferred operations until the requirements nl the oilier Stalehad hern satisfied. It now transpires that all Dominion loans whatsoever have been definitely deferred, under the Imperial 'lre.nsury s pressure. The embargo applies only lo new money. Conversion loans are |>er-mis-ible. and the States are taking advantage of this. LONDON. Oil. .15. In i onucel ion with the loan difliciilties, Mr Amery has consented to receive a deputation Ironi the Australian Agents-) Intern! on Friday. This is stated to he unique in Dominion financial lli-lorv. WASHINGTON. Oct. I I. \ssiiranecs that, the American bankers will not lend money lo foreign (on ornmenis against, the Admimst mt lion*:, w ishes were given I’residenl (oolidge by Representative Hamilton Fish. it. New York Republican Mem1, cr of the House and Foreign Affairs Committee at a White House ronfereiiec. Mr Fish sharply criticised the tentative French debt settlement, declaring it virtually a plea ol bankruptcy'. and not enti-isloiit wil h a nation waging two wars at tremendous cn,j , nor with the payment ol '-even .!|,,j ciwlii per cent interest on plicate bankers' loans, or with France’s largo military appropriations. 'I he refusal of Frame to lat if; do ngi cement would cau-e the I nited .-Muleto (let I that no more American lie liars ha loaned io Fivnrh mil i! after Di,. war debt i- I nnde'l. lie indicated Rritaiu and other European Governments paying throe and a hall pel m nl interest may a-k equal terms il lower term-, were grunted l*> Frame.