AUSTRALIAN POLITICS.

Taranaki Herald, Volume LIX, Issue 143672, 16 December 1911, Page 3

AUSTRALIAN POLITICS.

TARIFF PROPOSALS. By Electric Telegraph.—Copyright. (Received Dec. 16, 10.20 a.m.) MELBOURNE, Doc. 16. The Federal House passed the tariff proposals, after a continuous sitting of 3S hours. FEDERAL LOAN BILL, MELBOURNE, Doc. 15. Mr. Fisher introduced the first Federal Loan Bill of £2,460,476, whereof it is proposed to expend £600.000 on Commonwealth offices in Loudon, and £1,000.000 towards the construction of the Port Angusta-Kalgoorlie railway, and £600,000 for the acquisition of land in the Federal territory. He said that though- it was »a Loan Bill it would not be necessary to ask for money heie or elsewhere. ’there were sufficient funds available under the Australian Notes Trust Fund to get this expenditure. The fund was accumulating rapidly. The amount of interest available at the end of five years would be at least a million. The Government proposed to create a sinking fund of a half per cent, in connection with the loan. The Loan Bill passed ail its stages, and the loan is to be issued under the provisions of the Commonwealtn Inscribed Stock Act. • Mr. Deakin, supporting the Bill, said it dealt with matters that could no longer be postponed, and marked the entry upon a big national policy of development. Mr. Fraser gave notice to introduce a Bill to enable the Pacific Cable Board to lay the proposed cable between New Zealand and Australia. The Senate passed the Savings Bank Bill through all stages of the House. THE FEDERAL BANK. (Received Dec. 16, 10.20 a.m.) MELBOURNE, Dec. 16. In the Assembly Mr. Watt introduced a Bill to amend the Savings Bank Act, providing for the extension of the powers of the Commissioners,, so as to enable them to cope with the threatened competition of the Commonwealth Bank.