AUSTRALIAN NEWS

Otago Daily Times, Issue 18049, 24 September 1920, Page 5

AUSTRALIAN NEWS

VICTORIAN FINANCES.

PRE-BUDGET STATEMENT.

Prosa Association^—By Telegraph—Copyright. MELBOURNE, September 23. Tho Victorian Treasurer (Mr M'Phersan), in a pro-Budget statement, said tho revenue for 1919-20 was £15,433,000, as against the estimate of £13.905,000. The expenditure was £15.229,000, as against the estimato of £13,854,000. The estimate of the revenuo and expenditure for 1920-21 was £17,500,000. Referring to tho wheat yield, Mr MTherson stated that the area under cultivation was estimated at 3,000,000 acres, against 2,000,000 acres in 1919-20, and tho yield was expected to approximate 50,000,000 bushels. The State Budget provides no new taxation. (Rec. Sept. 24, at 1.40 a.m.) The Treasurer stated that the expenditure for tho current year would amount to £3,456,000. After tliis was paid tho only remaining indebtedness would be to tlie_ British Government in respect of the active conduct of tho war, araounting to £42,696,500. Tho total amount required for soldier settlements is estimated at £50,000,000.

' PROHIBITION REFERENDUM. ADELAIDE, September 23. In the Legislative) Assembly Major Smeaton presented a record "petition containing 57,660 signatures asking for a referendum on the question of prohibition! The debate on the referendum motion was adjourned. BAPTIST UNION'S SUPPORT. SYDNEY, September 23. (Received Sept. 23, at 7.25 p.m.) The annual sessions of the Baptist Union decided to support the prohibition poll, despite the monetary compensation provision to which it is opposed, believing that the benefits received more than off-set the cost of snch compensation. ANTI-PROFITEERING BELL. ADVERSE COMMENT. SYDNEY, September 23. There is much adverse comment in the business community on the Anti-profiteer-ing Bill. It is claimed that business men will be disinclined to venture the investment of further capital if their profits are fixed at too narrow a limit, which would render business insecure and be the cause of stagnation, with the Tesult of increased unemployment. It is also claimed that the talk of wholesale profiteering is without foundation, and if an investigation . were made it would_ prove that the profits of the great majority of traders are not excessive. PRESBYTERIAN GENERAL ASSEMBLY. PRESSING PROBLEMS. SYDNEY, September 23. At the opening session of the Presbyterian General Assembly of Australia the new Moderator (the Rav. James Gibson), in his inaugural address, stressed the pressing problems to be faced. These, he said, involved the reconstruction and reorganising of institutions which shall serve men's social life and transmit the best, treasures of humanity to the generations to come. He declared that the choice before the world was a choice between the old _ order and revolution—a choice between revolution in a Bolshevist form founded on hate, revenge, and covetousness, and a revolution which had its root in supreme faith in God. PRIME MINISTERS' CONFERENCE. MELBOURNE, September 23. Mr W. M. Hughes (Prime Minister) announced that he anticipates visiting Britain next year to attend a conference of the dominions' Prime Ministers. ' WOOL RETENTION MONEY. MELBOURNE, September 23. The Central Wool Committee has made available £5,430,000 for distribution among the wool growers of the commonwealth" This represents the retention money for the adjustment of the appraised price of wool to a flat rate. 1 . FATE OF A SCHOONER. * BELIEVED TO HAVE FOUNDERED. SYDNEY, September 23. (Received Sept. 23, at 7.25 p.m.) The schooner Amelia J. left Newcastle for Hobart coal laden on August 25, and it is feared that she has foundered. The crew of 12 included the mate, R. G. Maxwell, of Port Chalmers, and the boatswain, D. J. M'Donald, of Auckland. A search steamer and a seaplane are leaving to search for the missing vessel. Two aeroplanes and a destroyer have also been despatched from Melbourne. A GENEROUS BEQUEST. BRISBANE, September 23. (Received Sept. 23, at 7.25 p.m.) Alas Anthony, a Maltese pioneer- and a large plantation owner in New Guinea died, leaving estate valued at.£60,000 for the benefit of blinded British and Australian soldiers. NAVAL ESTIMATES. REDUCTION. IN FLEET NECESSARY. MELBOURNE, September 23. (Rec. Sept. 24, at 1.40 a.m.) In the Houso of Representatives Sir Joseph Cook tabled the Navy Estimates, which provide for an expenditure of £3,265,878, compared with £1,989,485 In 1913-14. This total provides for the caro and maintenance of the fleet, which has . been increased by 20 vessels since 1914 and an increase in personnel. The indebtedness of the Commonwealth had to be considered in framing the Estimates, and it had been necessary to reduce the strength of the sea-going fleet to six submarines with a parent ship, six new destroyers, two sloops, one light cruiser, and one training cruiser. Of" the ramaining ships, the Australia will become a gunnery and torpedo drill ship. There will be a total of 11 ships in reserve, some of which will be exercised half-vearly for a few clays with the sea-going 'force.

MISCELLANEOUS ITEMS. SYDNEY, September 23. (Received Sept. 23, at 8.55 p.m.) The Attorney-Genera,] has made an application in lunacy jurisdiction for a declaration that Georgeson, v.'lio has been mentioned in connection with the wheat inquiry, is ineapablo of managing his affairs, and asking for the appointment of a manager of his affairs. MELBOURNE, September 23. (Received Sept. 23, at 8.55 p.m.) Increases in tho postal and "telegraph rates will become operative when the Bill which has been introduced in the House of Representatives has been passed by Parliament. In tho House of Representatives Mr Jlughes announced that the commonwealth agreed to enter tho wheat pool, and that negotiations have practically been completed for the sale of 300,000 'tons of wheat and flour to the Egyptian Government.