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Friday, 25 June 1915

Senator BAKHAP (Tasmania) . - Three and a half per cent, is hardly sufficient interest. Tasmania, being an insular State, with a comparatively large coast line, spent a considerable sum in building lighthouses and marine marks, and I am confident that a great deal of the money cost that State more than 4 per cent. Has the matter been threshed out? The Commonwealth does not intend to pay cash for any of the buildings and the whole transaction looks like obtaining a forced loan from the States to the extent of the amount expended by them in building lighthouses. With money at its present rate, is it fair to pay the States only 3£ per cent. ?

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