FIDUCIARY NOTES

Wanganui Chronicle, Volume 74, Issue 109, 11 May 1931, Page 7

FIDUCIARY NOTES

commonweal™ scheme PROPOSAL MAT BE DROPPED WARNINGS OF ELECTORATES TALK OF RAISING A LOAN [By Telegraph— Pres-. Association—Copyright] Received May 10, 5-5 p.m. MELBOURNE, Alay 8. The Prime Minister, Air J. H. Scul lin, denies the published statement that the Government is manoeuvring to remain in office. Ho says his stated policy will be pur sued and if it is frustrated by the Sen ate an appeal may bo maoc to the conn try in a double dissolution. The Sydney Sun’s Canberra corres pondent says that hints in Ministerial circles suggest that the Seullin Government may drop the fiduciary note issue owing to blunt warnings from followers returned from the elec’orates, that the issue would be % lisastrous one on which to fight a g moral election at present. It is believed that Messrs Scullin and riiuO'ioi 3 may offc r to unite with the State Premiers in raising a loan within 'lit, hr.'-r.ion wealth as an alternative o the fiduciary note scheme. STATE FINANCES. QUEENSLAND SHOWS CREDIT. SYDNEY, Alay 9. A deficit of £7,789,420 in the finances of New South Wales is revealed in fig urcs for the first ten months of the present financial year. The revenue amounts to £32,995,092 and expenditure to £40,784,512. MELBOURNE, Alay 9. Although the Treasury statement for the ten months shows a shortage of £l, 994,200, adjustments during the remaining two months arc expected to reduce Victoria’s deficit to £2,000,000. BRISBANE, May 9. On April 30 Queensland had a credit balance of £2,390,392 in all funds. HOBART, May 9. The statement of the consolidated revenue shows that expenditure exceeded receipts for the ten months by £225,-