PILING UP TROUBLE
NEWSPAPER ATTACKS THE AUSTRALIAN LOAN METIJODS Rec. Juxie 19. London, June 18. General uneasiness as to the future of the gilt-edged market, which many contend has already passed its zenith, has caused the New Statesman to bitterly attack the Australian Government. It declares that Mr. J. A. Lyons, the Prime Minister, may be telling Australia that the loan conversion has been wonderfully successful, actually he should confess defeat and warn the people of the financial dangers ahead. It is criminal that Australia is not converting her debt into lower-inter-est long-term issues. Australianstatesmen dare not tell the electors that long-term issues eannot be raised in London at a better rate than per cent. Therefore they are taking refuge in short terms issues, and dealing piecemeal with high interest loans, which for Australia's good should immediately be converted at the best rate available. The authorities are merely piling up trouble for five years hence, when money may be dearer and seasons bad.
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https://paperspast.natlib.govt.nz/newspapers/RMPOST19330620.2.23
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Rotorua Morning Post, Volume 2, Issue 562, 20 June 1933, Page 5
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163PILING UP TROUBLE Rotorua Morning Post, Volume 2, Issue 562, 20 June 1933, Page 5
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