THE COMMONWEALTH

Otago Daily Times, Issue 14212, 13 May 1908, Page 5

THE COMMONWEALTH

PREMIERS' CONFERENCE. FINANCIAL PROBLEM UNSOLVED. Press Association.—By Telegraph—Copyright. MELBOURNE, May 12. The Premiers' Conference has concluded without the Premiers Teaching a settlement on tho financial problem. Tlm conference adopted a series of resolutions to the' effect that it viewed with apprehension Sir W. J. Lyne's proposals', considering that if they we're adopted they would seriously affect the financial independence and solvency of the States. No financial scheme could be' assented to which did not provide for the States receiving a fixed annual sum and a proportionate part of all increases in Customs and Exaise revenues. For the purpose of enabling the Federal Government to initiate a general scheme of old-age pensions, the States were willing to accept a smaller percentage than three-fourths of the Customs and Excise revenue. It was further resolved that the States should be the sole judges of the need for raising loans without any interference from the Council of Finance; that the amount returnable by the States should bo on a per capita basis; that the sinking funds proposal without making an equitable provision for compensation is objectionable; and that in the event of the Commonwealth taking over the State debts they should be reduced by the value of the transferred properties.' An early settlement of the question and its submission to the State Parliaments as early »» pcesiblo were- also urged. Mr Deakin and Sir W. J. Lyne attended the conference, and discussed the resolutions. Mr Deakin suggested that when the tariff was out of the way Sir W. J. Lyne's proposals and the Premiers' Teisolu'tionr, should be submitted to the Federal Parliament ; then, if the States thought fit, they could have a further conference, Tho conference discussed the question of Federal and State co-operation in promoting immigration. Referring to a recent cablegram, MrDeakin said that tho Federal Government had not considered the proposal of subsidising tho Standard newspaper, but they were considering the proposition of advertising Australia by taking certain space- in the new weekly issue of that paper, the rest of the issue to be made up of cablegrams from Canada, South Africa, and other parts oi the Empire. He wanted to see if the States would join in talcing part in this scheme of advertising,