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Wednesday, 7 July 1920

Mr WEST (EAST SYDNEY, NEW SOUTH WALES) - Will the Acting Treasurer state whether any steps have been taken in reference to the sale of war gratuity bonds to insurance companies? I understand that the insurance companies have been fixing a premium which it is impossible for the soldiers to pay, and that the men are anxious to learn what other steps are to be taken in the matter.

Sir JOSEPH COOK (PARRAMATTA, NEW SOUTH WALES) (Minister for the Navy) - It is to be regretted that the question is being brought up in this way. Already a great deal of unfair trafficking in these bonds is taking place, and I apprehend that it is the duty of the Government to try to stop it as f aT as possible.

Mr HECTOR Lamond - Why not let bonds be sold at the market price in the open market; then the men will not be robbed.

Mr Tudor - They are being robbed today. Some of the men are selling their bonds at 50 per cent, below their face value.

Sir JOSEPH COOK (PARRAMATTA, NEW SOUTH WALES) (Minister for the Navy) - It is evident that this is a very thorny subject. I hope honorable members will believe that the Treasury is trying to deal with it firmly and as equitably as possible. I can say no more.

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