Page 9 Advertisements Column 1

Southland Times, Issue 18972, 20 June 1923, Page 9

Australian Governments are distinguished •s borrowers (says the Melbourne Age). A relatively small community with a heavy war debt and annual charges on previous borrowings finds it necessary to look to outside sources of capital for remunerative investment in public utilities and developmental enterprises. Financial circles in Great Bntam were recently perturbed at the indications given by the Commonwealth Government, in illustration of the need of co-ordination m borrowing, of new loans required oy the Commonwealth and States in 1923-24. The whole amount is £45,000 - 000, and the bulk of this money will be required for developmental undertakings of various kinds. According to a return prepared by the Treasury, from information supplied by the States, the requirements for 1923-24 are;—Commonwealth, £lO,OOO- - New South Wales, £9,000,000 ; Victoria £9,500,000; Queensland, £4,700,000; South Australia, £7,500,000; Western Australia, £3.600.000; Tasmania, £7oo,ooo;—total’ £45,000,000. The purpoeee given are:— Postmaster-Gereral’s department, £3,400.000; war service homes, £4,000,000; soldier land settlement, £5,000,000; immigration, £6.500,000 ;railways and tramways. £9,050000; water supply, £4,400,000; harboura and nvere, £1,650,000; roads and bridges, £1,050,000; public buildings, £1,000,000; purchase of land, £1,000,000; electricitv, £2,100,000; loans to local bodies, £400,000; advance- for homes, £1,000,000; other’purpose?, £4.350.000. It is estimated the total requirements for the next three years will be the same as for 1923-24.