LOAN EXPENDITURE
DRASTIC REDUCTIONS
(Australian Press Aswoia-aon)
rr; .isydney, m, s.
The.-Loan Council meeting a Cun-
berra agreed to further drasti rein loan expenditure b the Commonwealth anti staled pielbers jiwill report to their-. respective'loverns ahd meet again in a fortniht. It is stated it-was originally planed to borrow £43,000,Q00. Tliis is al-ready-cut by thirty per cent and n\v the economy axe chops; it down o about £25,000,000. All luxury schem, are to be abandoned and *Mr Thendoi insists' that a, rigid, self-imposed dis eiplirih will have a. tremendously good result in the eyes of overseas investors.''" The Council endorsed Mr J. Hfvcullin’s assuranc that Australia will promptly and regularly meet the obligations.
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Hokitika Guardian, 10 February 1930, Page 3
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113LOAN EXPENDITURE Hokitika Guardian, 10 February 1930, Page 3
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