AUSTRALIA’S DEBT
DISTURBING AGGREGATE / INCREASE IN PRODUCTION SMALL IN COMPARISON. OFFICIAL FIGURES. By Telegraph.—Press Assn.—Copyright SYDNEY, December 19. A depressing comparison of the increase of production in Australia and the constant increase in State debts was made by the Federal Treasurer, Dr. Earle Page, before his departure for Canada. While on June 30th, 1911, the State debts amounted to £217,760,000, they had increased since then to nearly £570,000,000. Compared with the 12 years previously, the inorease was more than 100 per cent., while the increase in population was only 22 per cent. During the same period, the value of production increased- from £188,400,600 to £346,662,000, an increase of 85 per cent. However, taking the relative values between 1911 and 1923 the production in 1923 year represented . a value of only £221,000,000, or an increase of 17 per cent. In the year 1911-12, the States had to meet an interest bill of £10,419,000; in 1921-22 the bill was £42,652,232. In addition to the State debts, the Commonwealth owed- £415,C00,0C0, of which £88,000,000 was recoverable. ANOTHER LOAN £6,000,000 FOR VICTORIA. Bv Telegraph.—Pro«q A«sn.—VVinwigil LONDON, December 18. The Victorian loan of £6,000,000 at 4f per cent., redeemable in 1940-00, is being underwritten at 97J.
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Bibliographic details
New Zealand Times, Volume LI, Issue 12017, 20 December 1924, Page 6
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201AUSTRALIA’S DEBT New Zealand Times, Volume LI, Issue 12017, 20 December 1924, Page 6
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