RECKLESS FINANCE.
CRITICISM BY TIMES. By Telegraph—Press Association—Copyright London, Sept. 9. The Times, in a prominent contributed article, criticises the Australian loan ex-, penditure. It denounces cockßpur railways, and condemns the habit of improving Crown lands by moans of loans and using the proceeds when the land is sold as general revenue. The writer adds “ Though the resources are magnificent and bankruptcy a long way off, yet Australian borrowing is nearing the limit of safety.” Ho wonders whether the States are competent to look after their finances since the Commonwealth has absorbed the beßt men, leaving the States almost devoid of trained political guidance. Tho article concludes —“ If the States entrusted the management of most important extornal finance to the Commonwealth Treasurer, their creditors and wellwishers in the Motherland would heartily applaud the decision.”
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Gisborne Times, Volume X, Issue 992, 11 September 1903, Page 4
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134RECKLESS FINANCE. Gisborne Times, Volume X, Issue 992, 11 September 1903, Page 4
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