FEDERAL FINANCE.

Dominion, Volume 2, Issue 609, 11 September 1909, Page 5

FEDERAL FINANCE.

CRITICISMS BY LABOUR, LEADER. Uly Telegraph.-Presa Ansorlftthm.-Cnpyriciil 1 Molbtiume, September 10. In the Federal House of Representatives, Mr. A. Fisher, ex-Prime Minister of .the Commonwealth, raised a debate ujpon'tlie : financial hgroemont recently concluded.by Mr. Deakin witli the States' Premiers. ' ; Mr. Fisher, contended that the agreement would restrict the'powers of the. Commonwealth, hamper,its development, and curtail its:ambitions'. Ho agreed that it was advisable to have-one Commonwealth stock, 'and it . would be so profitable as to enable a saving of a quarter per. cent, It was of advantage to transfer the State debts to the Commonwealth Government.' ;

Instead of agreeing to the annual payment by the Commonwealth Government to. the :States of 255. per capita, the speaker said be would be prepared to vote an even larger sum : if the debts were taken over; He was satisfied that if the dobts were taken over there would be a sufficient saving eventually to wipe out Australia's indebtedness.

The agreement, Mr. Fisher contended, should be referred back to another Premiers' Conference.

. . , - . ADJOURNMENT. (Eeo. September 10, 10.40 p.m.) ; Mclbourno, September 10. Tho debate on the Bill dealing with the financial rotations cf the Federal and the State Governments will be resumed on Tuesday, to which day the Houso of Representatives has adjourned.