FEDERAL FINANCE
Melbourne, Jan 4 The Commonwealth revenue for past half year wa5£13,084,000 compared with £16,718,000 the previous corresponding half year. Postal receipts increased by £579, poo, Customs being responsible for the decrease. Although the Federal Government took power to issue a new loan, it is now believed that there will be no need for more loan money during the current financial year.
In view of the reductions made in the Defence Estimates the Pederal Government is compelled indefinitely to postpone the establishment of tire two oroposed squadrons of seaplanes, and the active aeroplane squadrons will be reduced from twelve to four machines per squadron.
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Bibliographic details
Bay of Plenty Times, Volume L, Issue 7890, 5 January 1922, Page 3
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105FEDERAL FINANCE Bay of Plenty Times, Volume L, Issue 7890, 5 January 1922, Page 3
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