Australian Finances.

Feilding Star, Volume XVI, Issue 31, 6 August 1894, Page 2

Australian Finances.

(PER PRESS ASSOCIATION.) London, August 2. The Financial News says that the reduction of the annual expenses of Victoria by £2,000,000 in four years is a favorable sign. The reduction of j revenue in a year of exceptional depression is unimportant. The colony's rich natural wealth will soon improve the state of the finances. The imposition of an income tax is the best earnest of good faith that could be given. The Standard, however, considers that the Budget means more borrowing. Melbourne, August 4. The Premier of South Australia has wired to Sir J. Patterson that he had brought matters to a head in connection with the boundary dispute by ; cancelling the proclamation issued in 1847, fixing the boundary two miles j further west than it is now claimed to j be The Victorian Premier replied j jocosely, that a declaration of war with South Australia in these dull times j would be interesting and entertaining. The proposed alteration in the Customs duties is causing some disorganisation in business, as it is uncertain whether the Government will definitely decide to bring in a general rate of 10 per cent. The Chamber of Commerce carried a resolution that such duty, if imposed, should be five per cent., but not ten per cent. Amongst other things, the Government propose to place an excise duty on tobacco and cigars. The manufacturers protest this would kill the industry, and have already notified the dismissal of between five and six hundred men if the inmost is levied.