THE PUBLIC ACCOUNTS.

Dominion, Volume 3, Issue 724, 25 January 1910, Page 6

THE PUBLIC ACCOUNTS.

The late.hour at which the report of -. tho/Prime. Minister's speech at Hastings came to hand this morning makes it impossible/for us to. do more here than note very briefly tho figures which Sir Joseph wishes the public to believe arc a full warrant for tho unrestrained boasting and the v«y; foolish abuse of his op-

ponents which appear, to him to be the correct thing for-statesmen:-'The figures do not tally exactly with those he gave at Invercargill a fortnight ago, but the differences are unimportant. We daresay we should not have even now been given the details of expenditure were it not that it is considered desirable to get a start of the unemotional balancesheet' of the forthcoming Gazette. For the December quarter the revenue amounted to £2,647,073, an increase of £55,685—a considerable drop fiom the increases of £209,785, £134,307, and £113,590 for the three preceding December quarters. And yet the expenditure for the quarter shows an increase of £76,547 on the figures for the December quarter, of 1908. The figures for the quarter, in 1907, 1908, and 1909 areas follow :-r-. : ; : ' • ' . ; ■ . ■'■•■■ : Credit'. Eovenne. Expenditure, balance. "■- ■•:'■: ■ ■ £'-'-: ■■■£ ■::■ £- - 1807 ... 2,460,798 2,352,777". 128,021 1908 ■... 2,591,388 - 2,419,831 " .141,557 . 1909 ... 2,647,073 2,526,378 v 120,635 ■ Although the revenuo" is rising yearly, the expenditure is outstripping it, as seems to be the normal result of the present Administration's way , of doing things; For the nine months .of the fiscal year 1009-10 the revenue amounted to £6,612,453. The expenditure, 'we. are told, showed; an" increaso' of ,£64,764, and as the for the. ',nine months .ending December 31, 1908, was. £6,451,936, the expenditure for the past nine months amounted to £6,516,700. . ■.Wβ therefore, get;., the following tabie for. the ■■' nine-month ■.periods':— '•■■;';".■:■■ ■'■'•■: yrr . :;v

'' '■ -■•■ Eevenne. Expenditure. ■y■■■:./ :■■'-.■ .-:■■'. £' . ■■■ ■: ■■'&■■■■■-■.:■ .1907 ......... 0,310,002 .- 5,876,613 •' : 1908 ■ .......'6,421,028 ~ . 6,451,936 ■ ■ 1909;:.....■...; 6,512,«3; . 6,516,700 The revenue,-' thai' is; to say, which two years ago was-nearlyhalf-a-mil-lion: in, excess of expenditure, ',") is now /actually; less than 1 the expenditure.;: It;is manifest that while the revenue is still not yet back to normal—the excess; over the- figure for! the. "black", year-. 1908. is- actually less than oven- the,'. 1908' 'excess over: the. 1907 \ figures—-the.'.-: Government has not made .any reduction in , : the total expenditure. .We .are- afraid tha.t'the/country's 1 finances :hirye,.got quite beyond' the.Government's , control.' Noting but good seasons and buoyant markets. ■ can ; conceal;, .the really bad. results achieved ',by : the WAed Administration. It is ; fortunate for us all -that New : Zealand' is naturally, bo -rich and .productive, ,and' Very fortunate that there, is , a general improvement in production and r -trade-;',,'just .; ;now.;: .Arid in 'the • -face vof,i ■ the.'.,;■;figures convicting, -his ';Government 'of carelessness and : ; extravagance—in the face.;-of ...the proof that-the', revenue'.carinot keep paceV.-with',the ex--penditufe'the' Ph'ike . Ministee ; has the hardihood ; to : applaud himselfand abuse'- those • whose "concern for the well-being of the ■■country, is sharpened. : by; 'their understanding of the heavy'burden ihat it .carries in the shape of, the' Waud Adminisfcraijon."' We'must hold over any detailed discussioii ! ,ofi'-tho position.