AUSTRALIAN TELEGRAMS.

Taranaki Herald, Volume XL, Issue 9256, 4 December 1891, Page 2

AUSTRALIAN TELEGRAMS.

Melbourne, December 2. Owing to the recent suspensions of payment, there was a iun on several banks to-day, but tho depositors' clemauds Mere met without difficulty. Melbourne, December 8. Tho House of Assembly has passed the Opium Bill, which is very drastic in its provisions, and the growth of poppies in the colony is prohibited. The Melbourne Permanent Building Society hrs suspended payment. Its overdraft ,tg the Bank is £23,000, and

the amount of deposits in the Society is £439,000. The assets are estimated at £7,000,000. Sydney, December 2. The debate on the Financial State- ; ment will be resumed to-morrow. ' The Election Reform Bill has passed the Lower House. A fifteen per cent, ad valorem duty, imposed on luxuries, is expected to yield £77,000 ; a ten per cent., on general articles, £549,000 ; besides specific duties yielding £278,000. In the House, Mr G. H. Reed, leader of the Opposition, in an incisive speech, tore the Budget proposals to pieces, and declared if taxation was required it should be done by taxing the land and wealth, and not by imposing burdens on those whose only means of livelihood is labor. Sydney, December 3. It is anticipated that after Messrs McMillan, Bruce, and Smith have spoken on the Budget proposals, Mr Reid, the leader of the Opposition, will table a motion challenging the fiscal policy of the Government.