COMMONWEALTH FINANCE.
HEAVY NEW LIABILITIES. ]? v Cable.—Press Association.—Copyright Melbourne, July 4. The Federal Treasurer roughly estimates the revenue for the current financial year at £'2O,(MiI),(MX), including £13.00(1.000 from Customs and excise and £1,350,000 from land tax, but with tlie heavy new liabilities involved in the control of the Northern Territory, the payment of interest on and the establishment of the sinking fund in connection with the payment for properties transferred from the States, the construction of the transcontinental railway. building at the Federal capital, besides heavy naval and military expenditure, it would he necessary carefully to control expenditure in order to show a credit balance at the end of the year.
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Taranaki Daily News, Volume LIV, Issue 9, 5 July 1911, Page 5
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111COMMONWEALTH FINANCE. Taranaki Daily News, Volume LIV, Issue 9, 5 July 1911, Page 5
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