Phosphate Commission’s Debt to Australia
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Australia.
The Prime Minister was asked the following questions in the Australian Parliament on October 14: Is it a fact that the British Phos phate Commissioners owe £1,397,046 to Australia?
If so, when do they intend to pay?
If they are unable to pay, can they borrow money in London and pay it to the Commonwealth Bank there?
The answers to the questions were: Yes, this sum represents the balance of the moneys advanced by the Common wealth Government as capital. The advance is being repaid by annual con tributions which provide for the re demption of the capital sum in a period of 50 years, commencing in 1921.
These repayments are credited to the National Debt Sinking Fund.