AUSTRALIAN NEWS.

South Canterbury Times, Issue 2665, 5 October 1881, Page 2

AUSTRALIAN NEWS.

(Per b.b. Te Anau at the Bluff.) [By Telegraph.] Melbourne, Sept. 29. The Treasurer's Budget Statement on the 22nd was very brief, and he avoided those comparisons which he said were the delight of rival financiers who were anxious to knock some feathers out of each other. He described the financial position as partially satisfactory. In dealing with the national debt of Victoria, Sir Bryan O’Loghlen said although the liabilities of the colony were stated at twenty-two and a half millions, the colony has valuable dividend paying investments as a set off. A syndicate of capitalists could be easily formed to take the railway lines off the hands of Government at their original cost of eighteen millions. As it is, the lines paid 4£ per cent last year on the capital borrowed for their construction, which is fifteen millions, the balance having to come out of the land fund Mid general revenue. The Yan Yean yields a profit of eighty thousand, and is valued at two millions. Moreover, the colony still owns agricultural land valued at fifteen millions. In reference to funding operations, the sura of eight millions borrowed at 6 per cent, has to be dealt with. Sir Bryan O’Loghlen believes new debentures can bo issued at 3£ or 4 per cent, interest. In (his way £160,000 interest will be saved. The Opposition manifested some disappointment when a continuance of the beer and tobacco duties was announced. Sir Bryan O’Loghlen said these taxes had been imposed to meet a serious deficiency iu the revenue, and until that was swept away the taxes would have to be retained. The Government hope to obtain an additional £IOOO in the income by the re-adjustment of the tax.

Ou the resumption of the Budget debate, Mr Berry said it whs not the in tention of the Opposition to submit an adverse motion. Ho urged that Government, if it does its duty, should send up the beer and tobacco duties, and the increased land tax in the same Bill. A supply Bill of £976,000 passed all its stores in both Houses, on the evening of tiie 27th. # f A draper named Martin, residing in Simpson’s road, Kiehmoad, attempted to murtb-r Ida wife early on the morning of the 28‘h, Hut she escaped before he could off-ot Ids purpose, although dangerously injured. Martin committed suicide by cutting bis throat. Mr Conway received a letter from the organisers of the England Eleven, giving the names of the team which visits Australia, viz. Midwinter, fjar-

low. Palling, Shrewsbury, Shaw, Uylett, Bates, Lockwood, Peak, Selby, Lilly, white, and Barnes. The defalcations of Agg amount to £2124, but the investigations are not yet completed. Government hold a guarantee from an Assurance Company for £IOOO.

The smallpox scare in Victoria has proved groundless, it being only some harmless eruption peculiar to infants. The rainfall for the year is close upon six inches below the average of the last 23 years. Rain is much wanted all over the country.