AUSTRALIAN PEACE LOAN
COMPULSION THREATENED, MELBOURNE, July 31. In the House of Representatives Mr Poynton announced that the war loan expenditure for the current year -was estimated at £52,000,000, which left a deficiency of* £33,200,000. It was therefore proposed to float a peace loan of £25,000,000, bearing interest at 5 per cent., but ".taking into, account the issue price of the bonds the interest payment would' anwrant to 54 per cent, for the whole period of the loan. Repayment is to be made at par in 1927. The interest will be subject to commonwealth income tax, but free of State taxation. If the response to the loan is unsatisfactory the Government will resort to compulsion, and those subjected to compulsion _wijl.be liable to a severe penalty in addition to having to subscribe- to t>«t loan.
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Otago Daily Times, Issue 17692, 1 August 1919, Page 5
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135AUSTRALIAN PEACE LOAN Otago Daily Times, Issue 17692, 1 August 1919, Page 5
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