THE COMMONWEALTH.

Taranaki Daily News, Volume XLVI, Issue 36, 12 February 1904, Page 3

THE COMMONWEALTH.

VICTORIAN STATE CABINET. MELBOURNE. Feb. 10. 11l- Bent has not yet completed the formation, of the Ministry. Mr Sliiels wishes to retire, owing to bad health, and .Mr Havis, a member of t'hl' Irvine l.'a,U'iie't. doc| fot want a portifolio. because he is not in 'accord with Air Dent's policy. I THE TREASURERS' CONFERENCE. (Received Feb. U , 10.1* p.m.) MELBOURNE, Feb. 11. After twelve hours' continuous disctissro'ii the Tren.surery' Conference ado'ptt'd a series of resolutions. In effect tlte Treasiirers agree with S*' (ieorge Turner that Stale debts should lie taken over by the Commonwealth completely ; but on those conditions : That the Ilratldon cluuso continue in force in perpetuity, und»t.hat where the revenue of any State in the luui'ds of the Commonwealth Treasurer is insullicient to cover Khu annual charge the State shall guarantee the amount reipiired, but without any as.-;igiimeut of railway rcvtiiues. The State Tix'a.surcrs are also prepared to recommend the adoption of a sinking fund of one-huli per cent, to gradually accrue as conversions of debts are effected. With regard to raising new loans any Stale may apply lo the Commonwealth to raise a loan for its but if necessurv the Commonwealth may reduce tile amount to n proportion measured b\ the adult population. Hon. Thomas Waddell (New South Wales) dissented from tins lor the leason that he considered it 'better to wait until they hud more experience as to the working of the Commonwealth's finances, and had some indication as to what its cmht in London would be With respect to t ru.ns-fei iud properties a resolution was arrived at 'o thcen'eet that ~,b,y Mlollhl ~J paid for ,„ »j _,,,,. c. llt . ( JuV( „,„ miU bo nj.s. maturing on October Bth, ■>( '., a..,d ear-marked only as being debts ""' ,V " Uyi "" U °' Sl *"