SIR DILLON BELL ON THE FINANCIAL POSITION OF AUSTRALASIA. [REUTER'S TELEGRAMS.]

Waikato Times, Volume XIX, Issue 1622, 25 November 1882, Page 3

SIR DILLON BELL ON THE FINANCIAL POSITION OF AUSTRALASIA. [REUTERS TELEGRAMS.]

Londox, Nov. 22. At the meeting of the Colonial Institute last evening Sir Francis Dillon 801 l read a paper, in which lie admitted that the growth of the public debts of the Australian Colonies, in proportion to the population, was abnormal. He maintained, however, that the various loans which have been contracted had been spent in reproductive public works, that the statistics of the commerce of the various colonies were surprising, and that it was to England's interest to help them with their surplus capital. Sir Saul Samuel, Agent-Oeneial for New South Wales, said it was clear that the colonists were well able to pay interest on the loans they had contracted. A Press Association despatch states that Sir Dillon Bell's paper was intended to inspire firmer confidence in the financial strength of the colonies, and to remove the fear that they were borrowing too fast. He quoted some striking statistics shoeing the marvellous advance of the colonies. The paper produced a great impression. Mr E. P. S. Stint, of Melbourne, ridiculed the fear of the repudiation of colonial liabilities.