COMMONWEALTH FINANCE.
A LOAN NOT REQUIRED. By Telegraph.—Press Assn.—Copyright. Melbourne, Jan. 4. The Commonwealth revenue for the halfyear was £13,084,000, compared with £16,718,000 in the previous corresponding half-year. Postal receipts increased £579,000, customs being responsible for the decrease. Although the Federal Government took power to issue a new loan, it is now believed there will be no need for more loan money during the current financial year. In view of the reductions made in the defence estimates the Federal Government has been compelled indefinitely to postpone the establishment of two of the proposed squadrons of seaplanes, and the active aeroplane squadrons will be reduced from 12 to 4 machines per squadron. The year’s bankruptcies disclosed a deficiency between the liabilities and assets of sequestrated estates of £145,443.
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Taranaki Daily News, 5 January 1922, Page 2
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127COMMONWEALTH FINANCE. Taranaki Daily News, 5 January 1922, Page 2
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