RECONSIDERATION BY STATES.

Evening Post, Volume LXXIII, Issue 129, 1 June 1907, Page 5

RECONSIDERATION BY STATES.

KO PROGRESS. " TIME NOT YET RIPE " (Received Jun- 1. 9.37 a.m.) BRISBANE, This Day. After Sir John Fonoit's tprcch, the confertneo rcconoidcred tho question of tho taking ovor by tho Commonwealth of tho Stated debts. Mr. Carrntberi (Now South Walt 3) complained of the grabbing .ipirit of the London undcrwiiters. New South Wale 3' "oxpsrienco had been that the cost of underwriting, together with commiision and ttamp duties, umountatl to £2 15s per cent. Thero was r.o patriotism in London finance. London was to d;>y tho rottsnest money market in the v,-oi-Id. Sir John Forrest had hinted that tuc Commcnweallh might take over the Po^t Office Savings B:'n!:. Ho v/ould cay: "God help tho Coaimonv/ealth, if it threatens us that way." If the Commonwealth were going to act the p?rt of (1 crushing machine, then it would have to consider the people. Mr. Csrruthers added that ho had como prepared to get rid of the friction between Xew South Wales and the other States of tho Commonwealth. Ho had a ■■cheme which ho hnd not yet proposed. It w.-s to constitute a, board or commission of experts, representing ench State, to go thoroughly into tho wholo question. That would be better thc.n discucsiots at the Piemiers' Conferences. After further discussion, the coufoienco reiterated Hi nrevious docision that the tima is not ripo for tho Commonwealth to tike over the States' debts, Victoria .mil South Australia dissonting. It was resolved to appoint somo com. petcnt person, at the joint cipsnso of the iStates, to examine lr.eaMu-cg introduced in the Commonwealth Parliament and to wdviss the fjtitcs whether thfir rights arc infringed.