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Tuesday, 7 September 1920

Sir JOSEPH COOK (PARRAMATTA, NEW SOUTH WALES) (Treasurer) - I regret to say that owing to telegraphic delays we have not yet received communications to-day from three or four of the States. So far as I am able to judge at present, however, there appears to be in sight anything from £20,000,000 to £22,000,000.

Honorable Members. - Hear, hear!

Sir JOSEPH COOK (PARRAMATTA, NEW SOUTH WALES) (Treasurer) - That is a very satisfactory state of affairs, taking into consideration the drought conditions which obtain in two of the States. I am hopeful that in a few days we shall be able to announce that the whole amount has been contributed. I would like, however, to say that there must be quite a number of pastoralists and others who have not yet subscribed to this loan, and since part of the wool money has already been made available - that is to say, I believe that it is in the hands of the banks and other financial agencies - I hope they will do so. Although the formal date for the closing of applications has expired, I trust that they will believe that we shall not refuse any money that they are good enough to send along. I do not propose to say to-day whether we shall extend the date of the closing of the loan. I shall Say more on that subject to-morrow; but I make an urgent appeal to all those who are receiving the windfall - for such it is - in the shape of this wool money to send us a good contribution out of it. We need it. There is every reason for congratulation that the people of this country have not yet allowed their sense of what we owe to our soldiers to become dimmed, and that they have again stood nobly to their duty. I sincerely hope that I may be permitted in the course of a day or two to announce that the whole of the loan has been fully subscribed.

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