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Tuesday, 18 May 1920

Sir JOSEPH COOK (PARRAMATTA, NEW SOUTH WALES) (Minister for the Navy) - On Friday last the honorable member for Franklin (Mr. McWilliams) asked the following question : -

Can the Minister for the Navy, as Acting Treasurer, let us know on Tuesday the actual position of the credits in Australia of the Wheat and Wool Pools? Can ho tell us briefly what the total credits are? This would simplify matters when we deal with the Supply Bill, which must come before us shortly.

I promised to furnish the information, which is as follows : -

The operations of the Wheat Pools have resulted, to date, in an overdraft of £1,909,000. Arrangements are now being made for the payment of a further advance, details of which will be published shortly.

The Central Wool Committee's only credit in Australia, other than small balances in the various administrative accounts, is the sum of £521,000 received in respect of wool sold on behalf of the British Government to local manufacturers. This amount will be credited to the British Government after the 30th June next.

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