THE PUBLIC ACCOUNTS.

Press, Volume LX, Issue 11499, 4 February 1903, Page 5

THE PUBLIC ACCOUNTS.

(special to "the pbess.")

WELLINGTON, February 3.

The "Post," dealing with"the public accounts, as published in a recent "Gazette," points out that the most noticeable feature of the Public Works Account for the past three quarters is the enormous decrease of expenditure as compared with 1901-02, and pan passu with this decrease of expenditure an enormous decrease in the amount of loan money received into the account. The total pubiio works appropriations of last session amounted to £2,259,533, while £2,143,262 was actually expended during 1901-02. But during tlie first three quarters of the current year, ISO 2-03. only £691,367 has been expended, as against £1;622.896 during the samo three" quarters of the previous year. Only £705,934 of loan money wf.s paid into the fund between Ist April and 31st December, 1902, as against £1.737,047 between those dates in 1901. Tht> curtailment of works, which indicates tht-.t there will be an enormous disparity between the appropriations and the actual expenditure for the year, is evidently due to the Government's inability to raise the loans authorised on (satisfactory terms in time to carry out the public works programme it drew up for the year.