AUSTRALIAN FINANCES.

Wanganui Chronicle, Volume XXXVII, Issue 11846, 18 July 1893, Page 2

AUSTRALIAN FINANCES.

[BT Et,EC!TBIO TELEGRAPH — COPYRIGHT.] Large Advances by (iloldsborongh, Moi't, and Co. Experts on the Position. (Per Press Association). London, July 15. It is stated that the books of Messrs Goldsborough, Mort, and Co. show that advances amounting to .£3,410,000 were made, and that the amount was divided among 154 accounts. Ten of the largest accounts average J3 145,000. Financiers in the city favour the suggestion that tho colonies should invite an English financial expert to advise the financial situation in Australia. It is suggested that Sir Reginald Earle Wolby, Permanent Secretary to the Treasury, Mr Edward W, Hamilton, Assistant Financial Secretary to the Treasury, or Sir Robert G. O. Hamilton, ex.Governor of Tasmania, would be suitable gentlemen, since the possibility of securing the services of Mr Goschen, ex-Chancellor of the Exchequer, or Sir John Lubbockia out of the question. It is believed that the British Government would assist to facilitate the matter. The best critics admit that it would be unwise for the colonies to altogether stop public works and the construction of railways. Lords Justices Sir N. Lindley, Kir H. C. Lopes, and Sir A. L. Smith, in dismissing the appaal against the reconstruction scheme of the English, Scottish, an>l Australian Chartered Bant, consider3d that the only way to pay the creditors of the bank was to keep the institution open.