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Friday, 30 July 1920

Sir JOSEPH COOK (PARRAMATTA, NEW SOUTH WALES) (Treasurer) - The answers to the honorable member's questions are as follow: -

1.   Yes.

2.   Bonds purchased on the market may be tendered in payment of probate duties. The Government is not aware at what prices bonds have been purchased for this purpose.

3.   There is no leakage of revenue, because for every £100 paid bythe surrender of bonds, the Commonwealth's indebtedness under the war loans, for a similar amount, is cancelled.

Whoever may lose in these transactions, the Government do not.

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