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Wednesday, 23 March 1927


Senator NEEDHAM (Western Australia) . - I agree with the principle that the Commonwealth should, with the consent of the States, regulate all public borrowings. My only regret is that, up to the present, New South Wales has declined to join with the other States in the present arrangement.


Senator Duncan - The honorable senator's regret is tantamount to a condemnation of the New South Wales Government.


Senator NEEDHAM - I can only repeat that I regret that one State has not come into line, and has not adopted this estimable system of regulating its loan policy. This system of control of public borrowings has proved beneficial not only to the States concerned but also to the people generally. The bill seeks to extend the agreement for another year. I hope that, before the year expires, New South Wales will deem it wise to join the Loan Council.







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