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STATEMENT BY THE PREMIER.

The Premier (Sir John Forrest) confirmed the accuracy of the above cable message, as being in accord- ance with the instructions that had been despatched to the Agent-General in London, though Sir John had not, at that time, received any official cable from Sir Malcolm Fraser announcing that the

proposed raising of this £1,000,000 had" been made public in London. In reply to our reporter, the Premier ex- plained that the loans that the Govern- ment had been authorised to raise are £3,600,000 under the Loan Act of 1896, and ¿?2,600,000 under the Coolgardie Goldfields Water Supply Act, making £6,000,000 in alb The Government havd already raised £1,000,000 under the Loan Act of 1896 and £1,000,000 under the Goldfields Water Supply Act, The loan which it has just been decided to place on . the London market is the second instal- ment of ¿61,000,000 under the Loan Act of

1896, and it is being raised for works which v have been already authorised, and which the Government are going on with. A total of £1,550,000 out of the authorised ¿£6,000,000 has been raised by means of Treasury Bille. From these statistics it will be seen that when the present loan has been successfully floated there will remain a balance unfloated out of the ¿66,000,000 of ¿61,450,000.

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