INTEREST PAID
MR. LANG REMINDED OF HIS SIIARE IN TROUBLE THE N.S.W. DEFAULT Rec. Feb 18, 8.15 p.m. CANBERRA, Thursday. The Prime Minister Mr. J. A. Lyons announced that instructions had been forwarded to London to pay immediately the interest to the holders of bonds in respect to which New South Wales had defaulted, and the necessary amount of £958,763 had been transmitted. Mr. Lyons also eommunicated with the Premier of New South Wales, Mr. J. T. Lang, asking him to remit his • share of £458, 763, of overdue interest in aceordance with his offer received yesterday. Mr. Lyons reminded Mr. Lang that the Commonwealth was not hostile to -New South Wales, but that the whole present trouble had been caused by Mr. Lang's failure to live up to his promises to reduce expenditure and adjust his Budget, thus involving default to overseas bond holders.
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Bibliographic details
Rotorua Morning Post, Volume 1, Issue 152, 19 February 1932, Page 5
Word Count
145INTEREST PAID Rotorua Morning Post, Volume 1, Issue 152, 19 February 1932, Page 5
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