DOMINIONS COMMISSION
ENGLISH INVESTMENTS IN AUSTRALIA. SYDNEY, April 22. Before the Dominions Royal Commission to-day Mr R. L. Nash, a prominent financial expert, gave evidence that the English capital invested in Australia had decreased from £387,000,000 in 1902 to £370,000,000 in 1912. A large number of English companies which did a big business in the eighties were practically wiped out after the 1893 collapse, and from that date capital had been flowing back to the Old Country, investors finding that because of local competition they could not profitably employ their capital. April 24, The Dominions Royal Commission has concluded its sittings in Sydney. The Hon. J- L. TTefle, in his evidence, said that the Sfates Savings Bank pro-
vided one million sterling per annum for settlement purposes. As Minister of Agriculture he had already received applications for £1,200,000. He was confident that he would be able to place £3,000,000 during the current year in assisting bona fide settlers. The banks were very tight, and people were not met in any shape or form to the extent they should be for the development of the country.
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Bibliographic details
Otago Witness, Issue 3085, 30 April 1913, Page 25
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185DOMINIONS COMMISSION Otago Witness, Issue 3085, 30 April 1913, Page 25
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