TARNISH CREDIT
. Press Association-
AUSTRALIAN ACTION IN FORCIG DISSENTERS TO CONVERT ECONOMIST'S COMMENT
-CopyrigM.
By Telephone — "Post Special Service. LONDON, Saturday. The Economist in an editorial, says 't is impossible to congratulate the Australian Loan Council on' forcing dissenters to convert. More far-see-:ng statesmen would have reflected that such compulsion would cheapen the patriotic sacrifices of the great majority, and tranish the credit of Australia. The . Commonwealth and the States have laid themselves open to eharge of breach of contract, without even an immediate finaneial advantage. If the latest proposal to permit the State to sell bonds over the counter means at 4 per cent. interest, the orospects of ohtaining money will be anything but bright. If, on the other hand, it is hoped to raise substantial sunis in London and New York, the treatment of the minority of the internal bond Kolders, apart from the present unenviable conditions, would appear a doubly unfortunate error in tactics.
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Bibliographic details
Rotorua Morning Post, Volume 1, Issue 18, 14 September 1931, Page 3
Word Count
157TARNISH CREDIT Rotorua Morning Post, Volume 1, Issue 18, 14 September 1931, Page 3
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