INTEREST REDUCTION
OPPOSITION VOICED /Australian Press Association.) SYDNEY, May 31. Air Lyons, the Leader, and Air Latham, Deputy Leader of the Federal Opposition have addressed a letter to the Prime Alinister, In which objection is made to the proposal now before the Premiers’ Conference to compel the conversion of internal loans at a reduction of interest. They describe it -nfl 1 repudiation and say that the effect of it is already obvious on the Stock Exchange in Australia And abroad. They state:—“ Persistence in the ad vocncy of this policy will, we fear, maze an honourable, voluntary conversion impossible, and will also greatly prejudice the success of any new loan to assist the farmers arid the unemployed. AYe, therefore, appeal to the flzrjfzrno heeyjjt’-a Cro eselaoT P-« Conference to consider with the utmost care and sens eof responsibility the inevitable effect of this policy upon the financial and economic position of Australia.” Mr Scullin, Prime AJinister, brings the letter before the Premiers’ Conference on Monday.
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Hokitika Guardian, 1 June 1931, Page 5
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165INTEREST REDUCTION Hokitika Guardian, 1 June 1931, Page 5
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