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Thu 25 Nov 1920 - The Argus (Melbourne, Vic. : 1848 - 1957)
Page 6 - DEBT TO GREAT BRITAIN.
DEBT TO GREAT BRITAIN.
Loan May Be Floated.
'? ' Though Commonwealth Ministers have re
' mained silent on the matter, it is generally
believed that if, as has been suggested,
a loan will be floated on the London market
shortly it will be for the purpose of win
me, out some of the Commonwealth Government
s indebtedness to the Imperial Government.
The sum of 25 000 000, which
was raised in Australia Uns car, is being
used principally to pay for settling soldiers
on the find the building of war service
homes the repatriation of soldiers generally
and for certain small outstanding baby
beef in addition, however there is a
heavy indebtedness to the British Government
for the payment of which no provision
was made in connection with the Just
John
During the early stages of the war is
tralia born of actual cash from the United
Kingdom amounting to £47,00 000 and
used it on general war expenditure. By
additional i nsequent on conversion this
amount has become a little over £49,000 000
line is really a bonded debt repayable to
the British Government at various dates
between 1925 and 1947 Quite apart from
the bonded debt howeVer Australia owed
on June 10 1920 to the British Government
a sum of £13 200 000 made up as for
loWB -
In let reduces to imper al C overran*, t
for in interlined transport, and
eq pin is t of All- C 7,100 000
In debtedness to lintiMi Admiralty for
transport victualling repairs and
other services for Australian fleet 6100 COI
£13 200 000
This total does not include a temporary
advance of £2 500 000 from the British Government
to meet London payments nor
an amount of £4 800,000 owing for interest
which has been laid since June last
RAILWAY ELECTRIFICATION,
Test at Coburg To-day
The electrical equipment of the Coburg
line has been completed anciently to
enable the running of electric trams for
testing purposes to be commenced to-day
it the test is satisfactory a regular free
true service for the conveyance of passengers
between Flinders street and fawkner
will be inaugurated next week His procedure
will be the same as that followed
when electric traction was commenced on
other lines One or two electric trains w rd
be interspersed daily with the steam trains
Bulli the latter have been eliminated in
the meantime the service will be run on the
present steam schedule The intention of
the commissioners is to start the complete
electric service on Sunday week when the
average schedule speed will be increases
from 15 to 24 miles per hour and the tune
of the journey from Flinders street to
Coburg reduced from 29 to 22 minutes
the density of the traffic during the rush
morning and evening periods between the
dirty street and -South Melbourne prevents
luliht.'iiiu. to uns hem), scheduled during
those hours For the rest of the day a regular
15 minute service will be maintained
betWeen 1 Flinders street and Coburg in
place of the present irregular schedule under
which the internal between the trains varies
from 20 to 50 minutes The electric service
drawing the busiest hours will be conducted
with live trains, which will be manned by
120 motormen and guards The existing
steam set vice requires six locomotives and
17 engine-drivers firemen and guards is
the cost of coal for generating current for
the electric open race is less than half the
cost of the required by steam locomotives
(j to run the same mileage the economy of
electric traction as compared with steam
traction is obv Rous
Article identifier
http://nla.gov.au/nla.news-article4569902
Page identifier
http://nla.gov.au/nla.news-page438951
APA citation
DEBT TO GREAT BRITAIN. (1920, November 25).The Argus (Melbourne, Vic. : 1848 - 1957), p. 6. Retrieved March 27, 2025, from http://nla.gov.au/nla.news-article4569902
MLA citation
"DEBT TO GREAT BRITAIN."The Argus (Melbourne, Vic. : 1848 - 1957) 25 November 1920: 6. Web. 27 Mar 2025 <http://nla.gov.au/nla.news-article4569902>.
Harvard/Australian citation
1920 'DEBT TO GREAT BRITAIN.',The Argus (Melbourne, Vic. : 1848 - 1957), 25 November, p. 6. , viewed 27 Mar 2025, http://nla.gov.au/nla.news-article4569902
Wikipedia citation
{{cite news |url=http://nla.gov.au/nla.news-article4569902 |title=DEBT TO GREAT BRITAIN. |newspaper=[[The Argus (Melbourne)]] |issue=23,187 |location=Victoria, Australia |date=25 November 1920 |accessdate=27 March 2025 |page=6 |via=National Library of Australia}}

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