WAR LOANS
ISSUE IN AUSTRALIA NEWSPRINT TO BE RATIONED BIG SAVING IN EXCHANGE. By' Telegraph—Press Association —Copyright. CANBERRA, May 28. Following a meeting of the Loan Council today, the Federal Treasurer, Mr Spender, announced the issue of an interest-free loan of £5,000.000. Subscriptions would be invited from people who desired to assist the war effort to the extent of foregoing the interest normally recived from war bonds.
Mr Spender also announced a £20,000,000 war loan, the terms of which include a short-term subscription with a currency of five years at 2} per cent. A longer term subscription of 10/16 years will carry interest at 3J per cent. The loan will be issued at par and will be subject to full Federal tax.
The Minister of Customs, Senator McLeay, announced that the rationing of newsprint will begin in Australia on July 1. The plan agreed to will cut consumption by 54,000 tons and result in the saving of more than £1,000,000 of ilon-sterling exchange. Daily papers exceeding 72 pages a week will be subjected to a 35 per cent reduction. Sunday papers of 24 to 32 pages will have a 25 per cent reduction, those of 32 to 48 pages 30 per cent and those exceeding 48 pages 35 per cent.
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https://paperspast.natlib.govt.nz/newspapers/WAITA19400529.2.38
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Wairarapa Times-Age, 29 May 1940, Page 5
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210WAR LOANS Wairarapa Times-Age, 29 May 1940, Page 5
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