THREE PER CENT
FEDERAL PROPOSAL INTEREST ON TRANSFERRED PROPERTIES. REJECTED BY VICTORIA. By Telegraph—Pruett Association—Copyright. MELBOURNE, July 10. The Acting-Premier CMr W. A. Watt) has written to tiio Federal Government rejecting tho proposal to pay as from July Ist last 3 per cent, interest on properties transferred by the State to the Commonwealth, and to sot aside not less than V per cent, as a sinking fund for liquidation of debt. Air Watt claims that current interest at tho rate of 3j per cent, should bo paid. Ho consider*-, that tho Commonwealth proposal is likely to seriously rupture tho relations between tho Commonwealth States. Tho Victorian Government is taking stops to call an inter-Stato conference to deal with tho matter.
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Bibliographic details
New Zealand Times, Volume XXXIII, Issue 7849, 11 July 1911, Page 5
Word Count
120THREE PER CENT New Zealand Times, Volume XXXIII, Issue 7849, 11 July 1911, Page 5
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