AUSTRALIA'S FINANCE

Taranaki Daily News, Volume LIII, Issue 234, 11 February 1911, Page 5

AUSTRALIA'S FINANCE

MONEY FLOWING. IN FREELY. By Cable—Press Association—Copyright. Sydney, February 10. Referring to the cable stating that Australia was borrowing twenty millions, Mr. Carmichael declared that New South Wales did not contemplate early borrowing in the London market. Money was flowing freely into the Treasury from local sources. A LESS ROSY VIEW. Sydney, February 10. Mr. McDonnell, Chief Secretary, holds a different view from Mr. Canuichael regarding finances. He told a deputation asking for a country hospital that the Government was feeling the financial pinch, and more money would have to be raised. He referred to taxation such as stamp duties, charges on transfors and cheques which were remitted by the previous Governments, which did not anticipate losing a million and a quarter annually in Customs and excise revenue.

A TASMANIAN U)AX. Hobart, February 10. Tasmania will take a loan of £100,00(1 or £200,000 for public works from the Federal Government. NEAV SOUTH WALES LOAN. Received 11, 8.5 p.m. Sydney, February 11. A special meeting of the Executive Council approved the issue locally of £1,000,000 worth of inscribed stock at 3% per cent., whereof the Commonwealth Government takes £700,000, with the option of taking the balance before the end of the mouth.