AUSTRALIAN FINANCE.

New Zealand Herald, Volume LXII, Issue 19144, 9 October 1925, Page 9

AUSTRALIAN FINANCE.

REVIEW BY THE TREASURER. ELECTION CAMPAIGN SPEECH. A. and N.Z. SYDNEY. Oct, 8. Dr. Earle Page, Federal Treasurer, in a speech at Grafton, outlined the events which led to the formation of the Country Party and the composite Ministry. He advocated co-operation between the Commonwealth and State Governments artd between the Commonwealth Government and individual enterprise. In spite of the fact that the population of Australia had increased by 500,000 during the last four years, departmental expenditure had been £200,000 less, said Dr. Page. Income tax seven years after the war was 47 per cent, less than when it was at its peak. Interest on war debt and war pensions at present amounted to more than £'29,000,000, which was greater than at any time during the war. Under the national debt sinking fund scheme the public debt would be extinguished in 50 years, and the Commonwealth war debt to England, amounting to £92,480,156, would be extinguished in 35 years by annual payments covering interest and redemption. The Minister appealed to the electors to choose whether they would tread the path of continuous progress by peaceful, orderly methods following British traditions, constitutions and laws, or the path of decay and disorder which must follow in the train of direct action and tyranny, whose only appeal was to force.