FEDERAL FINANCE.
PROPOSED ISSUE OF NOTES. MR. FISHER'S SCHEME.
By Telegrapn.—JPresa Association.— Copyright, MELBOURNE, 9th May. In new proposals for a Federal note issue, Mr. Fisher, Commonwealth Premier, takes it as his basis that the Commonwealth will absorb about four millions. Twenty-five per cent, would be retained by the, Treasury as a balance against the demand for cash, and the rest he proposes to invest. He estimates that 3 or 3Jj per cent, on three -millions would produce a revenue of £100,000 a year. Mr. Fisher is considering whether, as an additional reserve against notes in case of panic, there should not be Trea- j sury bills which might be issued up to 50 per cent, of the total for securing cash in case of necessity.
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Bibliographic details
Evening Post, Volume LXXVII, Issue 109, 10 May 1909, Page 7
Word Count
126FEDERAL FINANCE. Evening Post, Volume LXXVII, Issue 109, 10 May 1909, Page 7
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