IN THE COMMONWEALTH.

Sun (Christchurch), Volume I, Issue 163, 15 August 1914, Page 10

IN THE COMMONWEALTH.

A WAR TOOD FUND. STATE PREMIERS IN CONFERENCE SYDNEY, August 14. Grammar schoolboys have offered to accept certificates instead of the usual prizes for athletic sports, the money saved to go to the Patriotic Fund. There is an outcry that some commercial houses are allegedly adding 10 per cent, on account of war risks to the price of goods, whereas the actual war risk is 3 per cent. The Government has taken over various steamers as troopships. The Chamber of Commerce has initiated a War Food Fund. It is proposed to send a shipment of food Home weekly if possible. Already there are 6000 contributions.

MELBOURNE, August 14. The Lord Mayor's fund amounts to £20,663.

A conference between Mr Cook, Mr Fisher, and the State Premiers, to deal with the financial position arising out of the war, arrived at an arrange•ment whereby the State Governments will receive all the paper currency they require upon depositing 23 per cent, of its value in gold with the Federal Treasury, the States paying 4 per cent, interest on the balance. It was also arranged that financial institutions should receive all the notes they require on depositing 33 l-3rd per cent, of the value of the gold and paying the Commonwealth Bank interest on the balance.