COLONIAL FINANCES

Waikato Times, Volume XXXVIII, Issue 3032, 19 December 1891, Page 2

COLONIAL FINANCES

ISSI'H Ol' TI.'MASniV BILLS. TIIK UKALTH OK VIf.'TOKIA. Ol!\IO\ I\ LUXDON. m;v i.i.i ' inn.' rn.iiiiUAi'ii—'■■ii'Hiiuiir.) .M.'i.i'.ijfHVi;, J)oci'inl).-r IS. Till-: ((iivi'i-ilini-iii M:i!i-,| n-|i'il'ts tllilt fli.- ].iililic wcallli uf fh.- colony is !'l:il,7oil.uoo, uiil tin- privad' wc'allli ll.jii.KVJ.diiii. I he liiUcr amount • Mii:t' to .L'liin per hen.] ui , lli«- population. Tin: value of the railways is put down at. i':j<>.0110.000. A Bill fiiijxiwyriiiy; tin: Colonial Treasurer to is«ur tnasiwy bonds to the amount of JJJ,OOn.ooo lias t<umally jtassed. Dui'iufr the pas', year which averaged iM:i7,U<)O a month, and that for (he next year '.ho Government were committed to an expenditure of £.".30,0(10 per month. Me.sr.s Carnitines iind .McMilUn s]toke in favour of (he issue, and said they were inclined to think that if local stock were established it would meet with lvady sale. The 33111 parsed, only one member raisin;; hi* voice against it. Sir Graham Barry who ban 1 ttely retired from the of this colony, writing to Mr Mutiro. Pri'inier on the poor stute of the London money market says it is to be regretted (hat some Federal action c innot be. taken in the matter and a resolution simultan-iously passed by all the legislatures stating that no further loans will be offered on the London market for at least two years and thenceforth only moderate amounts will be applied for. If thin were done, he .says it would act like magic on tlv situation in London. Sydnky, December IS. Mr J. Lee, Colonial Treasurer, has introduced a lo empower (he issue of four millions of Treasury Bills at an interest of ■) \ per cent, extending over a period of four years. It was stated there was a gross loan expenditure. T.oxuox, Desember 17. The city financiers deprecate so lan;'.' and simultaneous an issue ofTrwisiiry bills by the colonics. The stockholders, ioo, compliiin that it is cruelly unjust, to them to destroy any chance of their realising without a loss ; also, that Victoria applying und'T the altered situation makes matUrs even worse. The bankers consider that it is imperative purchasers of bills should bo secured -li per cent, on their investment, and that the bills should be secured through the banks privately and issued gradually, only for the amount.sufficient for immediate wants. Public announcements they consider .is prejudicial. It is believed here that the Tasmanian Government desires a further issue of Treasury bills to the extent of £700,000.