COLONIAL FINANCES
MS WISE’S OPINION. London, February 22.
Mr Wise, Attorney-General of New South Wales, on being interviewed, said the recent discussion as to the solvency of Now South Wales was merely the outcome of a fantastic dream. New South Wales’ borrowings recently were, he said, largely owing to the purchase of £4,000,000 worth of wharf frontage, which already returned a net profit after providing for a sinking fond. The real assets in Australia were the Parliament's unlimited powers of taxation. The Australians were the highest-taxed people in the world, and, he added, scorned the idea of repudiation. The charges of extravagance against the Federal Government were unfounded. The Commonwealth was reslly too parsimonious, and its salaries were lower than these of the principal States. Federation had increased New South Wales’ revenue by over a million, which was a very useful addition.
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Bibliographic details
Hawke's Bay Herald, Volume XXXVIII, Issue 12379, 24 February 1903, Page 3
Word Count
142COLONIAL FINANCES Hawke's Bay Herald, Volume XXXVIII, Issue 12379, 24 February 1903, Page 3
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