LATEST AUSTRALIAN

Waipawa Mail, Volume XVIII, Issue 3107, 2 August 1894, Page 3

LATEST AUSTRALIAN

(Pep. Press Association.—Copyright.) (by SUBMARINE OABL3) SYDNEY, Yesterday Mr Gannon, owner of many well-known racehorses, is dead. Two hundred shearers have refused to sign tho agreement in the More© district, and have formed a strike camp. A supply of free men have been despatched from Sydney. BRISBANE, Yesterday

The Budget was dolivered by tho Treasurer this evening. The revenue for the year was £32,000 below the estimate, while the expenditure has exceeded t'ie revenue by £BOOO. Tho total deficit is £1,575,000. The value of exports show an increase of £346,000 as compared with tho previous y nr, and tho imports a decrease of £655,000. Tho Statement speaks hopefully of the meat industry, and it is expected that the output next year will be doubled. The Treasurer proposes to nek civil servants to accept a reduction in salaries for one year, and considers it unlikely that any reduction will to required after that period. The prospects of tho colony are so satisfactory that the Government hope to proceed with railway extension. Mr Wragge predicts heavy weather across tho Tasman S a, affecting tho south-westorn portion of New Zealand. (Received 11.10 a.m.) SYDNEY, This day Mr Reid expects to complete the formation of a Cabinet to-day. Further shearing strikes havo occurred in tho Cobar district. MELBOURNE, This cay Tho caucus of the Opposition condemns the Budget proposals Some consider that tiioy are a return to free trade while others take exception to the proposal to levy 10 per cent oi goods hitherto free. When the House met last night Mr Shiolds gave notice to move on Tuesday, that the proposals are unsatisfactory. It is generally admitted that Mr Shields has made a mis take in giving the Government so many days to como to terms with their support ers. Tho Government have taken advantage of the interval and havo informed their followers that they would remove the duty on goods subject to the 10 per cent tax, and again place them ou tbo froe list. Tt is unlikely tho Government will bo defeated. HOBART, This day In the Assembly a resolution was carried to issue £750,000 inscribed stock at 4 per cent and £189,000 of Treasury Bills at 5 per cent for six years if the loan is not floated. Tho loan is intended to redeem the debentures falling due iu the next three years, the Government pledging themselves not to borrow for three years. Tho Assembly passed tho stamp duty resolutions, including a 5 per cent tux ou the totalizator receipts.