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Tuesday, 5 June 1928

Mr CHARLTON (Hunter) .- It is well known that I have been requesting for some time a decision from the Government regarding the introduction of German capital into Australia, and it3 indemnification against any default that may take place respecting German reparations under the Dawes and Versailles treaties. I understand that this concession has been granted by Great Britain, South Africa, Canada, and New Zealand. I should like the Government to expedite its decision in this matter, because of "the perilous position of the coal industry. Without some assistance it is not likely to improve very much, because of the increasing consumption of oil fuel and brown coal. The introduction of German capital into Australia to develop our coalfields for the eventual production of oil and other by-products of coal in commercial quantities, would greatly benefit Australia, as a whole. I hope that the Government will come to a speedy decision. I have reason to believe that capital to the amount of £2,000,000 is available to Australia for the development of our coal-fields if permission is granted for its introduction, and I see no reason to refuse that permission.

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