DOMINION FINANCE.

Dominion, Volume 2, Issue 581, 9 August 1909, Page 5

DOMINION FINANCE.

STATEMENT BY HON.'T. MACKENZIE. (By .Tolerranh.— Frees Association.) ' ' : ■ Palmerston, August 7. The Hon. T. Mackenzie passed through PalniOTston to-day on bis way to tho Moumahaki Experiment Farm. Interviewed here, regarding the finanoial position of the Dominion, Tie stated that value of exports for the half-year ending June 30, 1908, was £10,053,470, and the' imports for the, same period were £8,292,948, these figures showing, an excess of exports over imports of £1,760,522. Experts for the half-year jending Juno 30, 1909. totalled £12,292,444, and imports £6,783,882, the excess of exports over imports being £5,508,562. These figures constituted a record, the previpue best increase being £3,689,310 in 1906 for the whole year. The effect of these' figures bad been felt on banking, and tho mpiiey market, which had suffered from various causes, was now relieved, and already money at reduced rates was available for all sound investments. ' . ■ ■. Despite the actions of some to decry the Government; ho could say .unhesitatingly t/hat never before in the history of tho Dominion had a firmer grasp been oxercised by tho Administration as regarded the finances, or had there been a keener of the expenditure. This was causing considerable unpopularity' in some districts, and threats of dire consequences'held, but he felt sure that there was behind the Government n quiet, solid, appreciative public who watch oarefully, and who, when the right _ time comes, will show that they value what-is being done, and realise the difficulties of the Government's work and its painful nature Some said that so much public money had been spent that the Dominion could not stand sound ' economy,' and' that a middle party was forming who would work, off ono party against another, and, in their words, "secure a share of the plums." Givon a sound, economic basis—and the' Government wae devoting .itself with single-1 noss of purpose to the welfare of the Dominion on practical, common-sense lines — there need be no fear for the future. It was hoped that the fruit industry would incroaso and that tho flax trade would improve, and there were great prospects in tho north of developments in land settlement. Cereals would bnlk largely in exports in future, and, if only fewer people would flock to wio citiesj wo would see great results. The recent depression had dono no permanent harm, but had made pcoplo realise that them must be a limit to public and private expenditure, and more self-reliance.