FEDERAL POLITICS
N.S.W. DEFAULT. (Ansirolian Press Association.) (Received f hi* dnv at 9.40 a m t CANBERRA, April 16. Air Sen 11 in explains that the New South Wales default, cabled earlier, was interest due on loans made by tbe Couimonweatb to tbe State. it is understood that since 1/4/31 New South Wales paid interest amounting approximately to £29,000 on loans raised by the State in Australia, and taken over by tbe Commonwealth. Regarding the interest due in future, the State has not advised Commonwealth of its intention, but Air Scullin remarked that a Bill bad been introduced in New South Wales providing, internlia. for a reduction of interestparable for the State in Australia to three per cent.
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Hokitika Guardian, 16 April 1931, Page 5
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118FEDERAL POLITICS Hokitika Guardian, 16 April 1931, Page 5
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