WESTRALIA'S DEFICIT.
Ona cablegrams this morning show that the aftermath of the boom is at last making itself severely felt in West Australia. It is admitted that the probable deficit will be £40,000. No new public works are to be undertaken, and to complete the works in hand and equip the railways it will be necessary to borrow three millions. Those are the admissions, and-it may be taken for granted that the facts are much more serious. It has been proved over and over again that there cannot be a boom without disastrous after ’ results, and in place of the wild lavishing of public funds West Australia has now politically to puton sack cloth and ashes, and lament for the daw-that were. It is now given out
that the keynote is “ economy," which might much more easily have been practised in the days of bogus prosperity. West Australia now finds itself in the position that all its best mining properties are held by non-residents, while of all the great things promised a few years ago few have been achieved.
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Gisborne Times, Volume V, Issue 132, 14 June 1901, Page 2
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179WESTRALIA'S DEFICIT. Gisborne Times, Volume V, Issue 132, 14 June 1901, Page 2
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