FEDERAL FINANCE.

Dominion, Volume 3, Issue 869, 16 July 1910, Page 5

FEDERAL FINANCE.

' : 9' .■MR. FISHER'S 81LL.., STATES AND SURPLUS REVENUE. By JTeiegriipli—Press Association—Copyright. Melbourne, Jury 15. In tho Fedoral House of Representatives, tie Prime Minister, Mr. Fisher, has. moved-'tho second reading of the Surplus Revenue Bill, providing for the payment of '255. per head to the States for ten years from the' beginning of the 'present month.: ; •" Mr. Fisher pointed out that a special concession of a quarter of a-million was to be made to Western Australia, and that deductions made during the current financial year 'of £450,000 from the States would meet the Commonwealth deficit. , . , - : Mr. 'Fisher explained that as it.would not bo legal to bring the payment into operation on July 1 lie was going to pay the Statos their full three-quarters of the Customs revenue up to tho end of December, but would square up accounts so as to bring the total payment for the year up to 255. per head. New South Wales's contribution towards tho payment ,-bf the ' 'Commonwealth's deficit was £178,973, Victoria's £143,092,- Queensland's £63,788, South Australia's £30,529,' Western Australia's '£20)113; and Tasmania's £13,500. Mi;'.. Deakin and'some .other Opposition members criticised the measure. • in-a'friendly, spirit, while.others opposed it oh the ground that' Mr. Fisher's methods of dealing with the finances were unconstitutional. Mr. Deakin declared that the Opposition generally recognised this as a settlement of the, financial relations with the States for. the next ten year's. \ DEBATE' ADJOURNED. (Rec. July 16, .0.10 a.m.) Melbourne, July 15. 'The debate on the Surplus ■ Revenue Bill has been adjourned until Tuesday. THE NOTE ISSUE. - • Melbourne, July 15. With regard to tho-proposed Federal note issue, Mr. . Fisher said the Government would not repudiate any State Act giving some,of the bank rights for years to come. •'