COMMONWEALTH POLITICS.
MR. FISHER’S FINANCE.
A FEDERAL NOTE ISSUE
United Press Association —Copyright (Received May 10, Llo a.m.)
MELBOURNE, May 9
- In new proposals for a Fecjeral note issue, Mr. Fisher, the Commonwealth Premier, takes it as his basis that the Commonwealth will absorb about four millions sterling. Twenty-five per cent, is to be retained by the Treasury as balance against demand .in cash; the rest he proposes to invest. He estimates that at. 3 of o\ per cent, three millions will produce a revenue of £IOO,OOO a year. Mr. Fisher is considering whether, as an additional reserve against the notes in the case of panic, there should not be Treasury bills, which might be issued up to 50 per cent, of the total, for securing cash in case of necessity.
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Gisborne Times, Volume XXVII, Issue 2497, 10 May 1909, Page 5
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131COMMONWEALTH POLITICS. Gisborne Times, Volume XXVII, Issue 2497, 10 May 1909, Page 5
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