TREASURY BILLS.

Waikato Times, Volume XXXVIII, Issue 3047, 26 January 1892, Page 2

TREASURY BILLS.

(liV KI.ECTKIC TKLKGH.U'H.— COPYRIGHT.) Londo.V. January 23. TiiK Economist considers the raising o? money by Treasury bills is a vicious method of finance, and the obtaining of a temporary relief will cost heavy sacrifices in the future. The Times says if the colonies constantly apply for loans for works not really reproductive, they must not look lo the London market. Though plenty of money would be offered for legitimate purposes, it would not bu obtained as cheap i',s formerly. Treasury bills, it considers, are justifiable as a temporary expedient, but the issue of them must not assume dangerous dimensions. New South Wales Treasury bills are quoted at a premium, owing to the brokers being unable to fulfil sales and purchasing from the insurance companies. It is believed the first instalment of Queensland Treasury bills will be haH-a-milliou, and that they will bo nearly placed si.t a similar price as those issued by New South Wales.

The Times slates Unit politicians arc to blame for tho vicious policy of winning labour votes by lavish bou'owiua;. The London loanmongers and banks, it says, have hel pel to debauch the colonial conscience by inducing investors to overvalue securities. It, however, considers it fortnnito that syndicates have disappeaied.