TREASURY BILLS ACT 1914.

The Governor-General may authorize the Treasurer from time to time to make out and issue Treasury Bills for raising by way of loan any money, authority to borrow which is granted by any Act; and paying any expenses of carrying this Act into effect which the Governor-General considers are properly payable out of capital. Treasury Bills may be issued and sold in such amounts and manner and at such prices and on such terms and conditions as the GovernorGeneral may direct. Treasury Bills shall cease on the date or dates fixed by the Governor-General as the dates upon which such Treasury Bills are redeemable.

LOAN ACT 1915.

This was an Act to authorize the raising and expending of the sum of £1,500,000 for the construction of a railway from Kalgoorlie to Port Augusta.

LOAN ACT 1917.

This was an Act to authorize the raising and expending of £1,862,000 for the following purposes :

UNDER CONTROL OF DEPARTMENT OF WORKS AND

RAILWAYS, viz. :——

Naval bases; Cockatoo Island dockyards;

acetate of lime factory; arsenal works and
buildings; Perth General Post Office; Con-
tribution under River Murray Waters Act
1915; railway- Queanbeyan-Canberra line;
capital required for "plant and stores

account

UNDER THE CONTROL OF THE POSTMASTER-GENERAL'S

DEPARTMENT:

For the construction of conduits and for laying

wires underground

UNDER CONTROL OF THE DEPARTMENT OF DEFENCE

(MILITARY):

Acetate of lime factory-Machinery and plant ;
General arsenal-machinery and plant

UNDER THE CONTROL OF DEPARTMENT OF THE NAVY :-
Cockatoo Island dockyards-machinery and plant;
fleet construction: Flinders naval depot;
wireless telegraphy

£963,300

104.000

45,000

550,000

UNDER CONTROL OF HOME AND TERRITORIES DEPART-
MENT

Purchase of sites for public buildings Federal
Capital Territory, defence purposes, naval
bases, post and telegraph purposes, light-
house workshops, store and offices, at Port
Adelaide and Brisbane, quarantine stations,
land for laboratory at Royal Park, Melbourne

UNDER CONTROL OF DEPARTMENT

CUSTOMS :

New lighthouses and additions.

OF TRADE AND

Total appropriation

SUGAR PURCHASE ACT 1915.

148,600

51,100

£1,862,000

The treasurer may from time to time, borrow from the Commonwealth Bank, money not exceeding £500,000 for the purchase of sugar by the Commonwealth, and for the payment of customs duties on sugar imported by the Commonwealth.

The treasurer is required to pay into the Commonwealth Bank to the credit of an account, to be therein established, all moneys received by the Commonwealth in respect of the sale of sugar so purchased. Such account is to be charged with interest at the rate of 5% per annum on the money lent by the Bank. The treasurer may close the account at any time when he is of opinion that there no longer exists any need for its continuance.

In the year 1915, owing to the war, the Commonwealth Government desired to control and stabilize the sugar industry in order that the price paid for cane might be increased, thus assisting the farmers. Raw sugar formerly sold at varying prices up to £13 and £14 per ton, was in 1916 immediately raised, when the Government assumed control, to £18 per ton, and this price was continued in 1917, and again raised to £21 per ton for the crops of 1918 and 1919. The retail price was fixed at 34d. per lb., this being the lowest price in the world. As the result of operations in foreign sugar which had to be imported to make good the shortage in the Australian crop, a profit accrued to the Commonwealth Government upon its sugar transactions of over £500,000, which was paid to the Commonwealth revenue. To assist and encourage the fruit industry

sugar is sold to jam manufacturers at a concession price which enable them to successfully compete in the markets of the world for the sale of Australian jams and canned fruits.

STATES' LOAN ACT 1916.

The treasurer may from time to time, borrow in the United Kingdom £8,940,000 sterling, to enable the Commonwealth Government to make loans to the States to the following amounts, namely :

Pending the borrowing of the money authorized by this Act, the treasurer may advance to the respective States, out of War Loan's moneys granted by the Government of the United Kingdom to the Commonwealth, the sum specified in this Act.

STATES' LOAN ACT 1917.

The treasurer may from time to time borrow £8,000,000 sterling for the purpose of making loans to the States of Victoria, Queensland, South Australia, Western Australia and Tasmania. Pending the borrowing of such money, the treasurer may make advances to such States out of war loan money obtained by the Commonwealth Government from the Government of the United Kingdom.

The total money lent by the Commonwealth to the States amounts to £12,000,000. See supra, p. 54.

WAR LOAN ACT 1914.

By this Act passed 21st December, 1914, the treasurer was authorized to borrow money from or through the British Government to the amount of £18,000,000 for war purposes.

WAR LOAN ACT (No. 1) 1915.

This was an Act authorizing the treasurer to borrow the sum of £20,000,000 in Australia, under the Inscribed Stock Act or by treasury bills, for war purposes.

WAR LOAN ACT (No. 2) 1915.

This was an Act to authorize the treasurer to borrow the sum of £6,500,000 from the Government of the United Kingdom.

WAR LOAN ACT (No. 3) 1915.

This was an Act authorizing the treasurer to borrow the sum of £18,000,000 in Australia by inscribed stock or treasury bills for war purposes.

WAR LOAN ACT 1916.

This was an Act authorizing the borrowing, in Australia, of the sum of £50,000,000 for war purposes, under the Inscribed Stock Act or by treasury bills.

WAR LOAN (UNITED KINGDOM) (No. 1) 1916.

By this Act certain amendments were made in the War Loan Act 1914-1916.

WAR LOAN (UNITED KINGDOM) (No. 2) 1916.

The Treasurer was authorized to borrow £25,000,000 from the Government of the United Kingdom for war purposes.

WAR LOAN ACT 1917.

This was an Act to authorize the borrowing of £80,000,000 in Australia for war purposes under the Inscribed Stock Act or by treasury bills. For further particulars and details of Commonwealth borrowings in the United Kingdom and in Australia, see Notes, supra, p. 55, where it is stated that the total public debt and obligations of the Commonwealth in June, 1918, was £362,518,347.

FREIGHT ARRANGEMENTS ACT 1915.

The Treasurer may from time to time borrow from the Commonwealth Bank, money for the purpose of entering into contracts and making arrangements for freight on Australian produce. All moneys advanced by the Commonwealth Bank under the Act and received and collected in respect of freight on Australian produce, are required to be entered in an account in the books of the Bank entitled" Commonwealth Treasurer Freight Arrangements Account" interest at the rate of 5 per cent. per annum is payable on the amount by which the said account is in debit. The account may be closed as soon as the Treasurer is of opinion that there is no longer any need for its continuance.

51. (v.) Postal53 telegraphic, telephonic, and other like 54 services;

LEGISLATION.

POST AND TELEGRAPH ACT 1901-1913.

Provision is made for the administration of the postal, telegraphic, and telephonic services of the Commonwealth. The administration of the Act and the control of the Department is vested in the Postmaster-General. The Secretary to the Postmaster-General, under the Postmaster-General, has the chief control of the Departments throughout the Commonwealth. In each State there is a Deputy Postmaster-General who is the principal officer therein. The Minister may delegate any of his powers under the Act to any of the principal officers. The Governor-General may make arrangements with postal authorities of other countries for the transmission of mails between the Commonwealth and such countries. The Postmaster-General may make contracts for the carriage of mails by land and sea, but all such contracts must contain a condition that only white labour shall be employed in such carriage; this condition, however, does not apply to the coaling and loading of ships at places beyond the limits of the Commonwealth. The railway authorities of the States and the owners and managers of private railways and tramways in any State are required to carry the mails subject to payment for such carriage on terms to be agreed upon or settled by arbitration. Arrangements are made for the issue and payment through the department of money orders and postal notes. Authority is given to make arrangements with the Postal Departments of other countries for the issue and payment of money orders and postal notes between the Commonwealth and such other countries. The Postmaster-General is given the exclusive privilege of providing and maintaining telegraph and telephone lines and of transmitting telegraphic and telephonic messages within the Commonwealth.

POST AND TELEGRAPH RATES ACT 1902-1913.

Postage rates are prescribed for the conveyance of newspapers. letters, and other postal articles posted within the Commonwealth for delivery therein, and rates for the transmission of telegrams within the Commonwealth.