AUSTRALIAN POLITICS.

Taranaki Daily News, Volume LIII, Issue 105, 11 August 1910, Page 5

AUSTRALIAN POLITICS.

STATE NOTES. SPEECH BY THE PREMIER. By Cable.—Press Association.—Copyright Melbourne, August 10. In the House of Representatives, Mr. Fisher moved the second reading of the Australian Notes Bill, which provides for a heavy tax on notes issued by banks. He said that the tax was not recommended' for the money gain) but to-establish a paper currency for the Commonwealth. It was not. proposed to deal with banking. The time would come when that question would be dealt with. It was safe to deal with the currency first. Whether profitable or not, it would still be a sound proposition. Although not casting doubt on the banks, the Government proposal was much safer than the present system. He recalled the financial panic of 1893. The Opposition condemned the measure, on the ground that no valid reason had been,shown for the change, and ', pointed out that the States would lose £70,000 annually from taxes on* bank notes. The debate was adjourned. NjS.W. (PARLIAMENT. j Sydney, Aiugust 10. In the "Assembly the Railway and Tramway Superannuation Bill, making contribution compulsory, was read a second time.