COMMONWEALTH NOTE ISSUE
United Press Association. —By Elec trio Telegraph.—Copyright. Melbourne, May 9.
In his new proposals for a Federal Note Issue, Mr Fisher takes it as his basis that the Commonwealth will absorb about four millions. Twentyfive percent, will be retained by the Treasury as a balance against a demand for cash and the rest he proposes to invest. As he estimates the money will earn 3 or 3per cent, the three millions will produce a revenue of £100,009 per year. Mr Fisher is considering whether as an additional reserve against notes in the case of panic, there should not be Treasury Bills, which might be issued up to 50 per cent, of the total for securing cash in case of necessity.
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Bibliographic details
Rangitikei Advocate and Manawatu Argus, Volume XXXIV, Issue 9440, 10 May 1909, Page 5
Word Count
123COMMONWEALTH NOTE ISSUE Rangitikei Advocate and Manawatu Argus, Volume XXXIV, Issue 9440, 10 May 1909, Page 5
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