AUSTRALIAN STATES
TOO MANY LOANS. OPINION IN BRITAIN. COMMONWEALTH CONTROL SUGGESTED. (By Electric Telegraph.—Copyright.) Received December 8 10.45 a.m. LONDON Dec. 7. It is understood that, following the recent difficulties- connected with the Queensland and New South Wales ‘loans, city men are suggesting that in future State loans should be excluded from the trustee list unless they are guaranteed by the Commonwealth. They point out that State loans were originally indluded in the list prior to the federation and the situation has since been completely altered. They express the opinion that if State loans were not included in the trustee list they would obtain very scanty city support and the States would therefore be compelled to apply for the Commonwealth sanction, thus obviating the necessity for repeated investigations into the finances of the individual States, which is very difficult at this end. “The impossibility of striking off the present issues is fully realised,” said one authority. “The suggestion bristles with technical difficulties but the effect would be salutary. Tliere are too many State loans floated here.”—A. and N.Z. cable.
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Manawatu Standard, Volume XLVII, Issue 9, 8 December 1926, Page 9
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179AUSTRALIAN STATES Manawatu Standard, Volume XLVII, Issue 9, 8 December 1926, Page 9
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