MIGRATION MONEY.
ADVANCE OF £34,000,000. EASY TERMS TO STATES. (Reeeived 11 a.m.) MELBOURNE, This Day. Draft agreements for the operation of the new migration proposals have been received by Mr S. M. Bruce, Federal Prime Minister. It is proposed that Britain shall lend the Commonwealth £34,000,000 for land settlement and development work and the Commonwealth in turn shall lend money to the States, who will administer the expenditure. As the Commonwealth and Britain share the larger part of the interest charges the States will receive the money at nominal interest.
The Federal Parliament will discuss the proposals before definite action is taken. —A. and N.Z.
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Bibliographic details
Northern Advocate, 31 July 1924, Page 5
Word Count
105MIGRATION MONEY. Northern Advocate, 31 July 1924, Page 5
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