FEDERAL BUDGET.

Dominion, Volume 7, Issue 1872, 4 October 1913, Page 5

FEDERAL BUDGET.

REVENUE EXCEEDS THE ESTIMATE. LOANS FORESHADOWED. By TeSflffWPt - Presi Association—Copyright Melbourne, October 3. The Federal Budgot discloses that the revenue for the year just ended totalled £21,809,413, which is £437,413 above the estimate. Customs and excise yielded £1,553,033; the post office, £4,224,916: and land tax, £1,504,794. The expenditure amountod to £21,007,863; an increaso of £1,383,841. It is estimated that the Customa and Excise rovenue for the current year will total £14,900,000, while an increase of £325,000 is anticipated from tho Post Office, notwithstanding a lobß of £417,000 on penny postage. Tho amounts repaid to. the States during the past year camo to £6,024,930. _ The estimated expenditure includes £15,600 towards the cost of tlio visit of tlie British Association delegates, £5000 for tho relief Antarctic Expedition, £4,250,000 for defence purposes, and £1,092,000 towards tho construction of tho fleet. Tho Treasurer proposes to float a loan of £3,080,000 to cover tho cost of the Kalgoorlic-Port Augusta railway, a sum of £3700 is to bo providod for an aviation instruction school, and £3,270,000 for an old ago pensions, whilo tho special payment to Tasmania is increased by £400,000. No fresh taxation is proposed. Tho Government intends to introduce a Bill to take over tho Stato debts, relieving tho States of all liabilities as thi3y mature. Tho sugar industry will be assisted in every possible way, incjuding an effort to induce its cultivation in tho Northern Territory. Tho Budget showed that 82,943 old ago apd 13,789 invalid pensions wero in operation, and that £85,2-26 in maternity allowances had been paid. It Is proposed to amend the last-named Act, so that the allowance shall only bo paid to thoso in need. During tho past twelve years the Savings Bank deposits increased from £31,000,000 to £73,000,000, tho average per head increasing from £8 3s. to £15 os. Tho total trade of Australia in 1912 nmounted to £157,254,000. It practioally doubled in ten yearß. The total value of the production of minerals in Australia was 811' millions, gold representing £546,000,000. Last year's wlioat production was 92 million bushels. Tlie value of tho wool exported was 27 millions. Tho Treasurer announced that ho intended to administer on safe, economical lines, without favouritism. Mr. Fisher (Leader of tho Opposition) opened tho debate on tho Budnet. Ho will resume his speech on t Thursday next, to which day the House adjourned.