GENERAL CABLEGRAMS By Telegraph—Prcsß Association—OopyrJsnt OUR FINANCES.

Dominion, Volume 6, Issue 1623, 14 December 1912, Page 5

GENERAL CABLEGRAMS By Telegraph—Prcsß Association—OopyrJsnt

OUR FINANCES.

.NEW SOUTH .WALES POLITICS. ■ Sydney, December 13. Mr. Beeby, who has just resigned from the State Ministry, anticipates that there will be a general election for the Legislative Assembly about April next. ■ ' ' CONGRESSMAN UNSEATED. Washington, December 13. The House of Renresentatives has unseated Mr. Charles C. Bowman, n, Pennsylvania Republican member, on charges of corruption. COEDITE ON PIEE. London, December 12. Forty tons of cordite, which wns Being' dried ia stoves at Andeer, Ayrshire, ignited. The blaze illuminated the country for miles around. SILVER BARS DISAPPEAR. London, December 12. Eiirht bars of silver awaiting shipment .to West Africa mysteriously disappeared at Liverpool. MISHAP ON THE OTRANTO. London, December 12. 'The Orient liner Otranto has sent a wireless message to Colombo that the after-hold dry-air refrigerator has been damaged, and that the forward machine is working- all the hold. PICTURES FOR MELBOURNE. London, December 12. Mr Herbert Minton Cundall, 1.5.0., F.S.A., has purchased for the Melbourne Art Gallery Sargeant's water-colours. "On the Simplon in Autumn" and "The Grand Canal, Venice." UNREST IN SAN DOMINGO. Now York, Deceml>er 12. The battleship New Hampshire lias boon dispatched to San Domingo, where conditions are reported to be serious. FIRE PANIC IN FACTORY! Chicago, December 12. A hundred and fifty girls were imperilled in a factory owinf* to a panic following an alarm of fire. The girls were crushed, in the doorways, but were all extricated, some over tho adjoining roofs. Many were injured. A GOVERNOR RESIGNS. Colombo, December 12. Sir Henry Edward M'Callum has resigned the Governorship of Ceylon, owing to ill-health. COMMONWEALTH ELECTORATES. Melbourne, December 18. In response to strong protests by the press and tho Federal' Opposition, the Government has arranged to reconsider tho scheme of redistribution of Federal seats in New South Wales electorates, which was twice rejected by the House.

THE REVENUE BUOYANT.

BUT COMMITMENTS LARGE,

ANTICIPATIONS OP A SURPLUS.* _Tlio Hon. Janies Allen, Minister for finance, made a brief statement as to tho condition of tho country's fiiiftiiccs to a Dominion reporter yesterday, on tho evo of his departure for England. "I am leaving New Zealand « little happier," said Mr. Allen, "for the b;ul months of tho financial year are over. We avo now well into December, which is tlio' best revenue month of tho year. At tho end of November tho Consolidated I'und was stronger than it was at the end of November last year, and I anticipate that the remaining four months, )f wo have a fortunate season, will giro us a larger rovenuo than we had for tho corresponding four months of last year. "Tlio expenditure, of course, Ims increased, but it has not increased in tlio same proportion as tho revenue, I am glad to say. With regard to tho Public Works Fund, the commitments were eo heavy when wo came into office that the expenditure up till now lias had to bo a little over .£IOO,OOO more than for tho corresponding eight montlis of last year. Tho increase was mostly 011 account of public buildings to which we were committed, and for which wo liavo had to pay. Tho balance of the increase is mado up in Post and Telegraph development, and the Postmaster-General is satisfied that this expenditure will be revenue-producing, and in fact will pay. It lias largely been used for telephone extension, which pay*! us.. There is sufficient money in 'the Public Works Fund to keep 11s going with economy, for three months, I hope, talcins account of' transfers from the Consolidated Fund wliicli we shall bo ablo to make. By that time it may be necessary to strengthen tho Public Works Fund, and I am quite sure that can be done. "As far as I can gather, tliere is evidence of the season being a good one, and I liope tbe next four months will show us a largo revenue, and. a surplus at tho end. The Post Office Savings Bank's funds are in a much better position than they have been for. tho_ post three or four months. If this continues it may be that we shall'be able to meet the commitments for loans to local bodies without having recourse to the London market."