THE COLONY’S FINANCES.

Gisborne Times, Volume XXV, Issue 2074, 8 May 1907, Page 4

THE COLONY’S FINANCES.

iDuring his speech at Tinuiru on May 3rd, tlio Acting Premier said it was indeed gratifying that our finances were in such a sound condition. Tho past year, so far as revenue was i concerned, had boon a record ono, and it gavo him groat ploasuro to ho able to uiinounco a surplus of £7X7,820. Somo timo previously it had boon anticipated that tho suiplus would bo a little over half a nu - lion, but tho rovonuo had boon coming in in a wondorful manner. Xho amount arising from the different sources was:— Customs 1,9X1,0X0 Stamps (including post and telegraph rocoipts) ;•-> £s£ Beer duty Railways 2,621,336 Registration and other ir l °? S 1! 40i891 Marino ...mss-, Miscellaneous 220,88 c Territorial rovonue — Cash land sales 3/,3UJ Doforrod payment land , . 2,462 Pastoral runs, routs, otc. 211,136 Totals £8,399,0,0 Tho increase under the various heads woro as follows: Consolidated Fund, Customs, £243,029; stamps, including post and telegraph receipts, £164,464; land tax, £61,586; income tax, £16,061; boor duty, £9447; railways, £282,978; registration and otlior fees, £11,222; marine, £4102; miscellaneous, £31,074; territorial iovenuo, £49o3—a total increase ot £814,716. The only decreases shown wore in deferred paymont land sales, £2978, and pastoral runs rents, £ll,812. Tho total increase of £814,716 was a record for tho colony. Tho railway traffic was abnormal, as well as tho Customs. This was duo to tho Exhibition. The surplus had exceeded his estimate of £500,000 because he had expected tho large works of the year would have kept it down to that figure. During the year he had transferred £775,000 from consolidated revenuo to Public Works, tho largest transfer of the kind ever made. Ho had redeemed £150,000 of Treasury debentures issued in anticipation of revenuo, and next year he hoped to make still further reductions and clear off Treasury bills altogethci. A sinking fund had been established for some of the war loans and other unproductive services, amounting this year to £9950. For the Exhibition £49,500 had been voted. All this had been done out of revenue, and there was still left a surplus of £717,825.

Briefly, he said the position of the Consolidated Fund ordinary revenue account was as follows: Surplus, £717,825, made up as follows: Receipts: Revenue, £8,399,075; sinking fund accretions £66,000; other receipts, £13,881; total, £8,478,956. Expenditure: Permanent charges, £3,038,120; annual appropriations, £4,736,806; total, £7,774,926. Excess of receipts over oxponditure, £704,030; balance March 31, 1906, £788,795; transferred to Public Works Fund, £775,000; balance from last year’s surplus, £13,795; balance March 31, 1907, £717,825.

SUPERSEDING THE FREEZER. Hitherto it lias been found possible to convey meat in a chilled state from New Zealand, but a process has boon designed to abolish the freezing chamber. Trials have been made to bring beef from New Zealand, but in one or two cases fairly good results were obtained. Those interested, however, decided that results on tho wliolo were not good enough to warrant further shipments on commercial lines. Many attempts have boon made during recont years to supersede or modify tho conditions of the freezing process, but though patents out of number have been taken out for processes designed to abolish the freezing cliambor, few of them have proved worth anything. The majority of invontors have striven for the preservation of peri isliable property by chemical means, but as a rule it has been found that food subjected to chemical processes has been prejudically affected in color or taste, or both. Latterly inventors have devoted themselves to the question of sterilising, which process applied, say, to beef intended to be carried at a chilling temperature, from the time of killing to the day of landing at the wharf, and also applied to the ships’ chambers in which the meat is convoyed, should prevent the formation of mould on the surface of the meat, and so prolong its “life” considerably. Quantities of chilled beef brought from South America are ruined owing to this mould, which gradually eats into tho meat. The most successful venture made in providing sterilising appliances is that of Mr. J. A. Linley, whose plant is installed at the Southampton cool stores. After severe tests were made, a company was formed (the Improved Chilling- Company),, and recently some quarters of Argentine beef, having passed through the process for an hour, were kept in the store under ordinary conditions for a week, and wore then sent to Smithfiold market, together with some quarters from the same ship that had not been troated. The state of the former, compared with the untreated beef, was so favorable that no doubt could be entertained as to the value of the process.