FEDERAL LOAN

Hokitika Guardian, 18 December 1930, Page 5

FEDERAL LOAN

FULLLY SUBSCRIBED. (Australian Press Association.) CANBERRA, Dec. 17. A Treasury official announced that tlio conversion loan had be.n closed this afternoon. The amount was tuily subscribed.

Mr Latham, Loader of the Opposition, expressed his gratification at tut loan's success. La hoped the result of the loan campaign would iv.storo oonhdence in Australia generally, and thus make possible the first step towards an emergence from the depression. He added that if the Federal Government would make a definite declaration against Repudiation and inflation, no, doubt employment would rapidly decrease. GUARANTEE FOR WHEAT GROWERS. CANBERRA, Dec. 17. The Federal House representatives after an all night sitting, passed the Bill to proviue a 3s per bushel client guarantee. . AID FOR CANNED MEAT INDUSTRY. CANBERRA, Deo. T 7. The meat industry is to be assisted by the Federal Government, which is preparing a bill to provide a bounty of one penny per pound on exported canned mutton. FULL AMOUNT RAISED. . SYDNEY, Dec. 17.

The Commonwealth £28,000,000 loan closes to-day. An official announcement to this' effect was made after Hie receipt of advices from all the states, which showed the full amount required has been subscribed. Victoria made by far the largest number of applications and heads the list

The figures up to loot night n ho wed the Victorian applications numbered 43,808, the amount’subscribed to the loan there being £12,538,720. Hie New South Wales applications numbered 17,715, and the subscriptions then totalled £7,642,040. PRESS COMMENT. (Received this day at 8 a.m.) LONDON, December 17. The “Times” .says the success of the loan shoivs the Australian people have faith in the future and do not believe in the danger of repudiation or even inflation. The result should make Mr S’cullin’s position less difficult and also encourage those other sturdy fighters, the Labour Premiers of Victoria and South Australia.