COLOSSAL DEBT.
——«*-——. EOUAN'S NIGHTMARE AHACKS NOTE ISSUE By Telegraph—Press Association—CopyrigM. (Received October 22/ noon.) SYDNEY, October 22. The Budget shows tho net revenue to" have, been £7,348,000, and net expenditure £7,106,000. , The ' statuary deductions left a deficit on the Government transactions of £IOO,OOO. : It was estimated that the rovonuo for the present year would be £7,325,000 and the expenditure £7,683,000.
Referring to the loan policy, Mr Holman, stated that the increase in :he public debt' during the .year was 210,525,000, and the total indebtedness £116,690,000. .Whilst the legitimate note issue was right and proper, ■ the borrowing of a large amount of paper money from, the Federal Government would only result in financial disaster. Indiscriminate' note issue was one of the prize delusions of the age, Regarding the absorption °of unemployed in new wheat areas, the Prouder stated that he had decided to guarantee a definite minimum price for all wheat'raised .in additional areas. It .would not be, compulsory to" sell it to the, Government. It would simply be marketed in, the usual way. .
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Bibliographic details
Star (Christchurch), Issue 11215, 22 October 1914, Page 4
Word Count
173COLOSSAL DEBT. Star (Christchurch), Issue 11215, 22 October 1914, Page 4
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