COMMONWEALTH POLITICS.

Gisborne Times, Volume XXVII, Issue 2587, 23 August 1909, Page 5

COMMONWEALTH POLITICS.

THE FINANCIAL ARRANGEMENT. RECEIVED WITH MINGLED FEELINGS. (United Press Association— Copyright MELBOURNE, August 21. An investigation of the State debts will be made by a Royal Commission, consisting of financial experts. The Federal Ministers and those of the smaller States express themselves well satisfied with the arrangement made. Mr Murray and Mr Kidston, though glad that a settlement of the financial question was reached and being prepared to redbmmendf its acceptance, • consider it means a sacrifice on the part of the large States. The Victorian Treasurer declares that it will mean the land tax will have to be heavier than intended under a per capita payment. The amounts paid to the various States this year are estimated to be: New South Wales £2,021,000, Victoria £1,617,000, -Queensland £709,000, South Australia £521,000, West Australia £340,000. Tasmania £235,000. Compared with the returns under the Braddon clause New South Wales loses £1,250,000, Victoria £440,000, Queensland £325,000, and West Australia £288,000, and Tasmanian receives a small gain. SYDNEY, August 21.

The “Herald” says that the result of the Premiers’ Conference will be received with mingled feelings. The Commonwealth may congratulate itself that it has come out on the safe side, but it is pretty clear that the Commonwealth finance, is going to be a big thing for many years to come, and the presen arrangement is only one step towards its solution. ._ it The “Telegraph” states that if the States agree to'the proposed per capita contribution, Mr Deakin will have.scored remarkably, and the State. Treasuries be placed in a worse position than under any scheme yet put forward. Mr Reid considers the main effect will be to compel the Commonwealth and States Governments to observe the principles of careful finance.

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