THE COLONY’S FINANCES.

Gisborne Times, Volume V, Issue 63, 15 March 1901, Page 3

THE COLONY’S FINANCES.

After Mr G. W. Bussell's very gloomy account of the financial position of the colony it is a pleasant relief to learn, from the report of Mr J. G. Ward’s speech at To Awaiuutu, that tho Government expects to have a surplus of £400,000 at tho end of the curront month. It will bo rememborod that when Mr Seddon delivered his financial Statement last August ho predicted that the surplns would be the smallest the Government had ever had ; but if the present anticipations should be realised —and with only a few days of tho year remaining, there should be no difficulty in making a tolerably precise calculation—it will compare very favorably with tho substantial balances which tho Treasurer has carried forward on previous occasions. Mr Seddon estimated that tho revenue for tho year would amount to £5, 463,000 and the expenditure to £5,441,523, leaving a balance of only 4121,477, and with the largo concessions in Customs duties, railway charges and postage rates, most people thought that lie had been quite sanguine enough. But “Seddon’s luck,” as our Conservative friends like to call the continued prosperity of the country, has stuck to the Government, and when the Treasurer meets, Parliament next June he will be ablo to show that his estimate has boon far more than reached. Mr Bussell’s complaint that tho expenditure for the first three-quarters of the current year exceeded tho expenditure of the three corresponding quarters of last year by .£329,069 is scarcely justified in view of the fact that Mr Seddon predicted the greater part of the increase in his Financial Statement. It will certainly not come as a surprise to anyone who has taken the trouble to understand the Treasurer’s proposals. The member for Biecarton explained himself that old age pensions, tho Post Office and tho Baihvays- were responsible for more than half the increase, and when we remember the expenditure upon South African contingents, harbor defenco, public health and education, there need be no mystery about the magnitude of the total. Mr Bussell may at least console himself with the reflection that the position is no worse to-day than it was nine months ago when lie gave his warm approval to the policy of the Government. The additional expenditure was clearly foretold in the Financial Statement, and the revenue has turned out much bettex than was expected. If tho candid friends of the Government really, thought that tho country was n galloping to a deficit they ought to have raised their protest seven months ago and insisted upon a rigorous policy of retrenchment, and not to have waited until they had secured new railway stations and other boons for their constituents before disclosing the depleted condition of the Treasury.—Lyttelton Times.