Financial Statement

Horowhenua Chronicle, 17 June 1916, Page 3

Financial Statement

Jii the Committee of Suppiv last night ("Friday) of the House of Repi;«sentativesj Sir Joseph VVar, Ministor of Finance, delivered Jus financial statement for the year 1915-10. He outlined the following proposals:— Reduce public works expenditure. Repeal Mortgage tax and substitute an income tax on sums invested m mortgage by owners.

Abolish duplication of income tax by exempting in iNew Zealand income earned elsewhere within the British Empire, and which ha.s already been taxed there.

Pro-vide for annual bonus of profits of Public Trust Office to beneficiaries of estates. Provide for war bonus to employees of all branches of the Public Service whose pay does not exceed £315 per annum, including teachers at public schools. Adjust conditions by legislations to meet the changes war has brought about in regard to banking. Provide for acquirement of $5 per cent oi profits realized by war conditions. Provide a* proportion ol moneys "e----quired in aid of war finance by issuing war bonds in New Zealand. Provide a tax of u per cent oil all incomes, exclusive ot ttiose obtained from war profits. To regulate the transier ot moneys from the Dominion except lor * legitima t,c trade purposes. To regulate the rate oi intere.il chargeable on 'deposits. Provide for financial assistance to friendly societies. j Provide for borrowing an additional £12,000.000 for war purposes. Million Dollar Mystery — -4k The opening epiisode of the great serial picture "The Million Do'lVar Mystery" will be shown on the screen by the* uianagiMiii'iut of Farkind's pictures on Wednesday evening nest. I'he story centres around a secret socisty ''The lilack Bun<Ja - ed," and its attempt to get possession ol a million which had been amassed in eighteen ye-ar* by a man who, in his younger days, had ueen, a member of the society. Through all these years tho members of the socieity seai-ched for him with a grim persistency and despite mil hiw precaution finally closed on him. His escape at tho last moment is one of the most thrilling and startling incidents ever shown oil a screen. The picture is a wonderful example of cinema work. In all its details, and in the great scenic effects no exprense was spared by the producers with the result that this wonderful pictorial serial has won high praise wherever it has been snown.