AUSTRALIA

Taranaki Daily News, Volume LVI, Issue 73, 15 August 1914, Page 5

AUSTRALIA

PROTECTING THE PEOPLE'S PURSES. PREVENTION OF HIGH PRICES. Melbourne, August 14. A Bill has passed the Assembly providing against undue restriction of the supply of goods and the undue raising of prices during the war. MELBOURNE MAYOR'S FUND. Received 14, 8.25 p.m. Melbourne, Auugst 14. . The Lord Mayor's fund has reached £20,603. PROFIT OUT OF WAR RISKS. Received 14, 0.30 p.m. Sydeny, August 14. The Grammar School hoys have offered to accept certificates instead of the usual prizes at their athletic sports, the money thus saved going to the patriotic Fund. There is an outcry that some commercial houses are allegedly adding ten per cent, for war risks on the price of goods, whereas the actual war risk is three per cent. The Government has taken over various steamers as troopships. FEDERAL AND STATE BANKS. FINANCING ARRANGEMEXTS CONCLUDED. A WAR FOOD FUND INITIATED. '■ Received 15, 12.55 a.m. Sydney, August 14. The Chamber of Commerce has initiated a War Food Fund.. It is proposed: to send a shipment Home weekly if pos/ sible. Already. £OOOO has-been subscribed. Melbourne, August 14. The conference between Messrs Cook and Fisher and the State Premiers to deal with the financial position arisine out of the war arrived at an arrangement whereby the State Governments will receive all the paper currency they require upon depositing 25 per cent, of the value in gold in the Federal Tera*;ir.". and paying four per cent, interest on the balance. They also arranged that, financial institutions should re■'•ivi all the notes they require, deposition ■'••". 1-3 per cent, of the value in gold, iiiv' paying bank interest on the balance.