STATES AND COMMONWEALTH

Taranaki Daily News, Volume LII, Issue 171, 23 August 1909, Page 2

STATES AND COMMONWEALTH

A NEW FINANCE BASIS. RESULT OF THE PREMIERS' CONFERENCE. By Cable.—Press Aflsociation.-Copyrign ~,,, ~ ~ Sydney, August 21. Ihe Herald says the result of tile Iremicrs' Conference will be received with mingled feelings. The Commonwealth may congratulate itself on commg out on the safe side, but it is pretty clear that Commonwealth finance is bo. mg to be a big thing for many years to come, and th c present arrangement is only one step towards the solution. ■lnc.Telegraph declares that if the Mates agree to the proposed per capita contribution Mr. Deakin will hive scored remarkably, and the State Treasuries will be placed in a worse position than bv any scheme yet put forward. Mr. Reid considers the main dlVd wiU be to compel the Commonwealth ami State Governments to observe the nrinciplcs of careful finance

■ Melbourne, August 21. An investigation of the State debt, will ho made by a Royal Committor consisting of financial experts. The Federal Ministers and those ol the smulftr States express t'nenwhiwell satisfied iwith the arrangement made.

Mr. Murray ami Sir. Kidston, fiiouah glad u settlement of the financial question iras been reached and though they arc prepared to recommend its acceptance, consider it means u sacrifice on the part of the larger States. The Victorian Treasurer declares it will mean that the land tux will have Ito l,e heavier than that intended under u. per capita payment. The amounts to be paid 'by the various States this year ar e estimated as follows:—New South Wales £2021000 Victoria £l/117,000, Queensland ■a.jull-' 000, South Australia £521,000 West Australia £340,000, Tasmania ,£233 000 Compared with taic returns under the Braddon Clause, New South Wales,' loses £1,250,000, Victoria £444,000, Queons]""d *325,000, West Australia £2BB. 000. Tasmania receives Vi small gain.