SEAMY SIDE OF AUSTRALIA.
(IIY ELECTRIC TELEGRAPH— COI'VHIGHT.) MKitiiocuNE, July HI. Mb Willoiiomjv, who has answered Mr Fortescue's article on the "Saamy Side of Australia," points out that tho right measure of indebtedness is not the total sum of the debt, nor its proportion to the revenue of the colony, but tho amount of interest to be paid per head. It is true the debt has increased 'luring the period under notice, but the old loans at high rates of interost have been paid otf, with the result that the interest charge per head remains unaltered. On the other hand, the colonies have new railways to the Rood, and these immensely add to the value of their territories. London. July 30. The Daily Chronicle, in an article on Mr Willoughhy's rejoinder to the "Seamy Side of Australia," considers the writer has nhown that the colonies are solvent, and fairly assured of a prosperous future.
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Waikato Times, Volume XXXVII, Issue 2972, 1 August 1891, Page 2
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154SEAMY SIDE OF AUSTRALIA. Waikato Times, Volume XXXVII, Issue 2972, 1 August 1891, Page 2
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