LOAN COUNCIL
IMPORTANT MATTERS,
>TL’ST BE DEALT WITH.
(Australian Press Association.)
this day at 8 a.in.) CANBERRA,, April 24
The deliberations of the Loan Council, now meeting, are expected to produce vital decisions upon the financial issues., Mr Lang was again absent, but the discussions has already revealed the peculiarly embarrassing position of his State and other States wiiicli are indebted to Westminster Bank Londoii.
Mr Theodore surprised the meetingby suggesting a twelve million loan be raised in Australia.
To-night’s discussion was largely a survey of the financial outlook. Sir Robert Gibson (Chairman of the Commonwealth Bank) attends a meeting on Sunday when it, will be possible for the Council to formulate plans for the future.
The Premier of South Australia described the situation, which faces Australia as extremely grave, owing to the financial drift and terrific unemployment. He contended that emergency measures must be- applied,
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Hokitika Guardian, 24 April 1931, Page 5
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146LOAN COUNCIL Hokitika Guardian, 24 April 1931, Page 5
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