N.Z. SILVER COINS IN AUSTRALIA.

Press, Volume LXIX, Issue 20881, 14 June 1933, Page 9

N.Z. SILVER COINS IN AUSTRALIA.

POLICE POWERS LIMITED. SYDNEY, June 13. The "Sydney Morning Herald" says the police in New South Wales, who have been working with the New Zealand authorities to prevent the importation of silver coin from New Zealand into Australia, have been handicapped by their limited powers under the existing acts. Since differences in exchange occurred, silver worth thousands of pounds has been brought to Sydney by intercolonial liners. Although the New Zealand authorities made it an offence to export silver, the practice persisted. The co-operation of the New South Wales police was obtained, but the authorities here found it was not an offence to import silver coin into Australia. They questioned many offenders, and discovered hundreds of pounds' worth of silver coin on ships arriving from New Zealand, but could take no direct action. BORROWING POWERS. LOCAL BODIES RESTRICTED. MELBOURNE, June 13. An important monetary decision reached by the Premiers' Conference is that the state governments should not permit statutory bodies, such as water boards and harbour trusts, to borrow without the approval of the Federal Loan Council. FINANCE FOR STATES. FEDERAL LOAN COUNCIL'S PROPOSALS. MELBOURNE, June 13. The Federal Loan Council has agreed to make available £17,436,000 to the state governments and the Commonwealth for public works during the financial year 1933-34. New South Wales will receive £7,000,000, Victoria £3,217,000, Queensland £2,400,000, South Australia £1,500,000, Western Australia £2,670,000, Tasmania £233,000, and the Commonwealth the remainder.