PUBLIC WORKS.
NEW SOUTH WALES BORROWING. By Cable—Press Association—Copvriclit. Sydney. September 10. Mr. Criflith, in a statement regarding public works, said that never in the history of the State bad there been so many railways, irrigation and harbor works, and schools constructed. Canada was borrowing forty millions for canals and docks, and China wanted a loan of eighty millions f, )V railways, while Cermanv was borrowing for battleships, the result being scarcity of money in the London market. Although it was unlikely. Australia might possibly be compelled, until money cheapened, to hold up some railway works. They Had been lately getting all the loans locally, which was a good policy as long as it did not denude the local market. If thev bought Xlim.DMO worth of rails in England ' or America with the money borrowed locally, that would mean exporting capital. That policy had gone far enough. They must import capital until matters hail adjusted themselves.
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Taranaki Daily News, Volume LV, Issue 106, 20 September 1912, Page 5
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156PUBLIC WORKS. Taranaki Daily News, Volume LV, Issue 106, 20 September 1912, Page 5
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