FEDERAL FINANCE.

Wairarapa Age, Volume XXXII, Issue 9575, 23 August 1909, Page 5

FEDERAL FINANCE.

HOW THE STATES ARE AFFECTED,

NEW SOUTH WALES LOSES HEAVILY.'

United Press association —Br Elfctric Telegraph Cepjf right,

MELBOURNE, August 21

The investigation of the State debts will be made by a Royal Commission consisting of financial experts. The Federal Ministers, and those ot the smaller States, express themselves well satisfied with the arrangement made. Mr Murray, Premier of Victoria/and Mr Kidston (Queesland), though glad that a settlement of the financial question had been reached and prepared to recommend Its acceptance, consider that it means a sacrifice nn the part of the larger States. The Victorian Treasurer declares l will mean'that the land tax will nave to be heavier than intended. Under the per capita payment the amounts paid to the vaiious States this year are estimated as follow: New South Wales JJJ » . Queensland 521>0 0b Jaouth Australia We»t Australia « ■ Tasmania m Compared with the returns under the Braddon Clause, New South Walea loees £1,250,000, Victoria JE444.000, Queensland £325,000, and West Australia £288,000; while 3 asmania will receive a small gain

PRESS COMMENT.

SYDNEY. August 21

The "Sydney Morning Herald, commenting on the financial settlement between the States and the Commonwealth, says:—"The result of the Premiers' Conference will be received with mingled feelings. The Commonwealth may congratulate itself that it has come out on the Bafe side, but it is pretty clear that Commonwealth finance is goin£ to be a big thing for npany years to come, and the present arrangement is only one step towards its solution. The "Daily Telegraph" declares that if the States agree to the Hosed per capita pntribution, Mr Beakin will have scored remarkably, and the State Treasuries will be placed in a worse position than under : any scheme yet put forward. Me G. H. Reid, ex-Federal Prem ier, considers that the main effect will be to compel the Commonwealth and State Governments to observe the principles of careful finance.