AUSTRALIAN FINANCE

Hokitika Guardian, 29 January 1930, Page 5

AUSTRALIAN FINANCE

BRITISH PRESS COMMENT. (United Preee Association— By Electric Telegraph—Copyright). (Received this rlnv at 9. a.n..) LONDON, January 28. The depression in Australian loans is more pronounced, including Tasmania fives 1932-42, which dropped to £B6i Several issues are down three points. The “Daily Telegraph's” financial writer commenting, states nothing could he more opportune than Mr Teuton’s speech at Australia Day banquet. His remarks should be considered by those who profess to see Australian credit further depressed. 1 here is little chance of Australia floating a loan here, hut 1 believe Australia has no such intention as it is understood the Australian hanks have fixed the rate at 5 7-8 per cent, tor replacing the ten million debt maturing in March Conditions may he trying for any nation with maturing obligations, but it is not necessary to taken an extreme view.” The ‘‘.Morning Post” says—“ The weakness in Australian securities is inainlv attributable to the frank recognition by Australia itself that the country is confronted with an economic crisis. There is not any sentiment here on the score of the advent of a Labour Governmet t It is recognised that credit is due to the Government for the realisation that a crisis exists. Therefore it is more likely to lie met on statesmanlike lines.”