STATE ADVANCES.
OPPO3ITION IN SOUTH AUSTEALIA.
[Special to Pbiss Association.]
ADELAIDE, Sept. 6.
The Chamber of Commerce has issued a lengthy reply to the Treasurer's advocaoy of the State Advances Bill. It states that the Chamber, representing the commercial interests of the colony, ia unanimous in declaring that the Bill is based on wrong principles. Its practical operation will constitute a menaca to the financial stability of the community. Never in the history of the colony has money ruled at cheaper rates, and while recognising the relief cheap money gives, the Bill is so devoid of sound economic principles that it is deluding to the producer and prejudicial to vigorous national life. Iv Canada Government advances had to be abandoned, because they com- 1 plicated the Btate of the finances and fomented jealousy and discontent. In New Zealand the scheme contained more safeguards, but was already producing trouble, as a relaxation of the conditions nreacribed by the Act and essential to safety is ' demanded, and has virtually been promised.
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Bibliographic details
Star (Christchurch), Issue 5357, 7 September 1895, Page 6
Word Count
169STATE ADVANCES. Star (Christchurch), Issue 5357, 7 September 1895, Page 6
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