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State borrowing: Part lll-sinking funds for the absolute redemption of existing and future state debts

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Johnston, Robert Mackenzie (1908) State borrowing: Part lll-sinking funds for the absolute redemption of existing and future state debts. Papers and Proceedings of the Royal Society of Tasmania. pp. 26-30. ISSN 0080-4703

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Abstract

There are many suggestions recently advocated by very
able public men interested in the problems of
State Finance for such a purpose.
In conclusion, I am strongly of opinion that Sinking
Funds for the absolute redemption of Loans invested
in Railways, Harbours, and other Public Works should
be restricted to the portions of such Loans whose
Assets are short-lived and, like the terminable life of
Marine Vessels, cannot be permanently preserved in
original pristine value and utility by the proper yearly
contributions to Maintenance, Renewals, and Repairs
from current revenue, by which means the whole Permanent
Way, Machinery, and Equipment of Railways
are ever kept up to their pristine value as State Assets.

Item Type: Article
Keywords: Royal Society of Tasmania, Van Diemens Land, VDL, Hobart Town, natural sciences, proceedings, records
Journal or Publication Title: Papers and Proceedings of the Royal Society of Tasmania
Page Range: pp. 26-30
ISSN: 0080-4703
Collections: Royal Society Collection > Papers & Proceedings of the Royal Society of Tasmania
Additional Information:

In 1843 the Horticultural and Botanical Society of Van Diemen's Land was founded and became the Royal Society of Van Diemen's Land for Horticulture, Botany, and the Advancement of Science in 1844. In 1855 its name changed to Royal Society of Tasmania for Horticulture, Botany, and the Advancement of Science. In 1911 the name was shortened to Royal Society of Tasmania.

Date Deposited: 07 May 2013 06:32
Last Modified: 15 Sep 2017 01:07
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