FEDERAL NOTE ISSUE
MR. FISHER'S PROPOSALS. Received. 10, 1.25 a.m. Melbourne, May 9. In tin: new proposals for the Federal note issue Mr. Fisher (the Premier) taues it as his basis that the Commonwealth will absorb about four millions. Twenty-live per cent, will be retained by the Treasury as a balance against the demand for cash. The rci>'t he proposes to invest. He estimates that three or three and n-lialf per cent, on three millions will produce a revenue of ,C 100,1100 a year. Air. Fisher is considering whether a* a*n additional reserve against notes in case of panic there should not bo Treasury bills which might be issued up to 50 per cent, of the total for sVeuriug the cash in case of necessity.
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Taranaki Daily News, Volume LII, Issue 88, 10 May 1909, Page 2
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125FEDERAL NOTE ISSUE Taranaki Daily News, Volume LII, Issue 88, 10 May 1909, Page 2
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