AUSTRALIA'S DEST.
A CONSOLIDATION SCHEME. Slli J. FORREST'S MISSION. Received 22, 4.53 p.m. London, April 21. Sir John Forrest has started for Brindisi. He considers his mission has bceu satisfactory, and believes the transfer of State debts to the Commonwealth would be well received in financial circles, which consider that as existing Stocks mature they ought to be repaid by Commonwealth Consols. It would be undesirable to attempt the conversion prior to maturity, and until he now Stock is firmly established and popular, financiers believe tho Consols would ultimately command a higher price than State Stock, conversion on terms favorable to the Commonwealth being possible later. A favorable opportunity of establishing Consols would be when a considerable amount of State Stock was maturing.
Sir J. Forrest considered that the Commouwealtli should, as soon as possible, take over the States' debts. Ho was confident the Cunsols would secure a considerable saving.
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Taranaki Daily News, Volume XLVII, Issue 8091, 23 April 1906, Page 3
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150AUSTRALIA'S DEST. Taranaki Daily News, Volume XLVII, Issue 8091, 23 April 1906, Page 3
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