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PUBLIC FINANCE (1884-1893).
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| The Ten-million Loan.—Ministers Practically Granted Control of Five Years' Loan Money.—Vigorous Railway Policy.—Effect of Over-spending.—Inflation of Values.—Increased Taxation.—Succession of Deficits. —Second McIlwraith Ministry.—A Protectionist Tariff. —Temporary Increase of Revenue.—Heavy Contraction in 1890.—Another Big Loan; Failure of Flotation. —The First Underwritten Australian Loan.—Amended Audit Act Limiting Spending Power of Government | 39-42 |
CHAPTER IV.