THE AUSTRALIAN DEBT.
INCREASE OF £12.953,603. During the veur ended June 30 the Australian Commonwealth debt, in spite of sinking funds, increased by £12,953,603. When these increases of debt are commented on, says the Sydney Morning Herald, the excuse is made that the purpose of' the increase is developmental works. One item, that of railways, is certainly a developmental work. But we have also naval bases, air bases, munitions works lighthouses, and vessels. The Postmaster-General, for the extension and construction of telegraph lines and telephone lines, takes £5,000,000. and the subscription to capital of Amalgamated Wireless Ltd., £250.001. The defenders of the'system point to the decrease of war debt, but this is more than made up by the increase of debt for what aie called public works and other purposes.
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New Zealand Herald, Volume LXIII, Issue 19388, 24 July 1926, Page 9
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130THE AUSTRALIAN DEBT. New Zealand Herald, Volume LXIII, Issue 19388, 24 July 1926, Page 9
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