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Tuesday, 22 May 1928


Mr WATSON (FREMANTLE, WESTERN AUSTRALIA) asked the Treasurer, upon notice -

1.   Is it a fact that in computing the interest payable on the recent loan floated in America at £5 0s. 3d. per centum per annum, provision has not been made for the redemption, of the difference between the amount accepted and par?

2.   Is it a fact that the difference amounts to approximately £1,070,000?

3.   Is it a fact that during the 28 years' currency of the loan Australia will be called upon to pay in interest approximately £13,000,000 and will still be responsible for the whole £10,000,000 borrowed?

4.   Is it a fact that as a consideration for these huge payments Australia will only have the use of £8,930,000 for 28 years?







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