MONEY AVAILABLE
FOR AUSTRALIAN SETTLEMENT
LONDON, November 2
The Commonwealth need not despair of attracting Capital for the settlement and development of Central and Northern Australia. There fire tens of millions available here for the purpose if the terms for employment of the money are sufficiently engaging. - Indeed, one of the paradoxes of the moment is that schemes which call for the investment of, a mere half-million cannot get a hearing, because large city houses ,are interested only in • enterprises demanding several millions and the promise of reasonable return upon capital.
Conversations with financiers indicate that some approach was made to the London market from Australia,, which conveyed that vast areas were obtainable at a peppercorn rental, with absolute- possession for a long period of years, and, provided that the conditions laid down by the Government were observed, the Federal Government would guarantee investors against the loss of any of their capital. From their gilt-edged angle several schemes which were canvassed in embryonic form made a- great appeal, but when it wa s discovered that the Government did not contemplate such illbalanced financing investor’s lost much of their enthusiasm.
Tills unfortunate misunderstanding plus the Victorian soldiers’ settlement dispute, has made them dubious of the wisdom of risking millions in the outback of Australia, -but the pioneer instinct still survives in the Oily, and money exists sufficient for all purposes.
Thp only problem is to elaborate plans; which will assure investors of a fajV fighting chance of success.
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Hokitika Guardian, 18 November 1933, Page 6
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247MONEY AVAILABLE Hokitika Guardian, 18 November 1933, Page 6
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