LATEST AUSTRALIAN NEWS.

Kumara Times, Issue 2011, 8 February 1883, Page 2

LATEST AUSTRALIAN NEWS.

THE SITUATION IN VICTORIA. NEW SOUTH WALES FINANCIAL STATEMENT, THE RAILWAY SYSTEM. (Received February 7,2 p.m.) Melbourne, February 7. The political speeches made last night gave the first intimation of the probable condition of affairs between the Constitutionalists and Liberals. Gillies speaking at Echuca denounced the ingratitude of the Government, with whom he would henceforth have no tie. The feeling of the country he said, was in favor of a strong Government capable of practical legislation and composed of reasonable men, in a position to sink party differences and re-unite in the national work. He hoped a modus vivendi would be discovered, and pledged himself to use every effort in the direction indicated. Graham Berry spoke at Geelong, and announced that he would defend the Education Act against all assaults, and denounced the Education and Tariff Commissions, The tone of his speech was somewhat ambiguous, but it is believed that he is not averse to a coalition with the Constitutionalists. The number of Ministerial candidates announced for the general election is comparatively small, and it is considered certain that Government will be defeated. (Received February 7, 9.5 p.m. Sir Julius Vogel is a passenger for London by the Sorata, which sailed today. (Received February 8, 0.55 a.m.) Sydney, February 7. In the Legislative Assembly to-night the Colonial Treasurer delivered his Budget Statement. He estimates the revenue for the year at £6,819,000, aud the expenditure at £6,482,565, leaving a surplus of £336,635. This, added to the surplus remaining at the clese of the last financial year, gives a total estimated surplus for the year ending December 31st next of £1,135,574. No alterations are proposed in the Customs’ tariff, but it is announced that a loan will shortly be raised to recoup the Consolidated Loan Fund, in which deficiencies have occurred owing to the stoppage of land sales. (Received February 8, 12.10 p.m.) February 8. In his Budget speech last night the Hon. J. R. Dibbs, Colonial Treasurer, in referring to the railways of New South Wales, announced that Government were taking steps to extend the line from Redfern station to Circular Quay, Sydney, and that a further extension of the tramway system was also contemplated. He further announced that the railways during the past year had yielded 5'31 per cent, upon the capital invested on their construction, and that this per centage was higher than any other railway system in the world.