AUSTRALIAN FINANCE.
STATEMENT BY AGENT-GENERAL. By Cable—Press Association—Copyright. London, Oct. 1. Mr. Wise, Agent-General for New South Wales, has written to The Times controverting the statement of its Sydney correspondents that the State Premiers "persisted in continuing costly and not urgent public works with borrowed British capital." Mr. Wise says that at the Premier's request the Agents-General met and reported to the Premiers' Conference regarding finance. He asserts that the States' requirements have been cut down to the irreducible minimum and need cause no anxiety. No State has any intention of entering upon public expenditure which is costly and not urgent. Some States may be unwilling to borrow through the Commonwealth, which would impair the largo powers given them by the- constitution as interpreted by the courts. The power of the purse has always been the instrument of political control.
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Taranaki Daily News, 4 October 1915, Page 2
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140AUSTRALIAN FINANCE. Taranaki Daily News, 4 October 1915, Page 2
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