Part 2 — CHAPTER VI.
Reading edition
CHAPTER VI.
PUBLIC FINANCE (1903-1909).
The Morgan-Kidston Ministry.—Economy in Revenue Expenditure.—Great Reduction in Loan Outlay.—Equilibrium Established at the Treasury.—Retrenchment and Taxation.—Improvement of Finances.—A Record Surplus for Queensland.—Land Sales Proceeds Act.—Abstention from Borrowing.—First Loan Floated since 1903.—Sound Position of Queensland. —Value of State Securities.—Reproductiveness of Railways Built out of Loan Money.—Public Estate Improvement Fund.—How Recourse to Money Market has been Avoided 49-53