FEDERATION.
(in KI.ECTKIC TELKUKAI'H.—COr\KIOHT.) LOXMOX, September 20. Slil 11. Stout, in an article the magazines, discussing the Federation question, states that borrowing powers of local Governments should be restricted by the. Federal Government. He co'nsidos tlm quo ,tion ot finance, will be a great difficulty in the way of federation. The States should perform their functions out of revenue alone, unless loans are required for purposes which will p:iy interest on them. In New Zealand, the commercial element, many farmers and, some manufacturers, are in favour of federation. It is incumbent on the promoters of federation to devise a. scheme which will enable individual Stiites while contributing to federal revenue, to liquidate the interest of their own debt. Experts hold that, before the convorv sion of debt will l>'J practicable tho federation of Australia must either be determined upon or abandoned. In their view the forme: , course would be preferable.
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Bibliographic details
Waikato Times, Volume XXXIX, Issue 3159, 22 September 1892, Page 2
Word Count
150FEDERATION. Waikato Times, Volume XXXIX, Issue 3159, 22 September 1892, Page 2
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