BRITAIN.

Taranaki Daily News, 1 October 1915, Page 5

BRITAIN.

THE AMERICAN LOAN. HOTLY CRITCISED. Received Sept. 30, 11.15 p.m. London, Sept. 30. The Stock Exchange and financial circles are relieved now that the United States loan is arranged, but not in enthusiastic terms. They point out that it is a good bargain for the lenders, the interest with the premium of redemption of one per cent, above the British war loan being very high, considering the benefits that are likely to accrue to American trade. Moreover, it is doubtful if one hundred millions will be sufficient, and the terms will be a handicap if another loan is necessary. The Manchester Guardian hotly criticises the distribution to a syndicate receiving a million sterling in face of the fact that the issue is free of British taxation, and hesitates to believe the British Government has authorised such terms. Instead of France getting credit for Britain's \ better credit we are suffering for France's worse credit. The interest is practically 53 per cent., representing a decline from 4$ per cent., which will depreciate a second British war loan to the extent of 125 millions or more than the whole of the amount received from America.

HARD LUCK FOR THE BOYS. RECRUITING FALLING OFF. Received Sept. 30, 11.40 p.m. London, Sept. 30. Miss Daisy Irving the popular actress, had arranged to kiss every recruit in a march through the streets, but at the last moment the War Office forbade it. The War Office has telegraphed the Bristol recruiting committee that the falling off in recruiting had caused Lord Kitchener and the War Office the greatest concern. INDIA AND THE IMPERIAL CONFERENCE. London, Sept. 20. Mr. Chamberlain, replying to Sir J. D. Rees, said no decision had yet been come to respecting India's representation at the Imperial Conference. The Government could not decide without consulting the Dominions.