AUSTRALIAN.

Hokitika Guardian, 15 June 1917, Page 3

AUSTRALIAN.

(Per Press Association— Copyright)

THE FINANCIAL STATEMENT.

(Received This Dav at 10.15. a m.) MELBOURNE, June 15.

In the House of Representatives the Treasurer delivered his Financial Statement. He said the customs revenue was expected to show a deficit of £1,723,000 due chiefly to the decreased number of ships from overseas ports. The defence expenditure not including the war expenditure, was stated to ho £5,392,689 from the beginning of tho war and ordinary naval military expenditure, and equipment of nav al bases and construction of the fleet had been £15,033,193.

The total war expenditure was £129, 114.206 of which £51,207,434 had been mot out of loans.

The financial position had becomo vorv difficult and a return to easy conditions seems far off. The successive accumulative ncreases far off—?-?—? accumulative increases of expenditure were alarming, but it was not possible or opportuno to indicate what would he done to provde financial arrangements for the ensuing year. Referring t® old ago and invalid pensions, the Treasurer said nearly 1$ P®r cent of .the total adults of population were receiving these pensions involving an expenditure of £3,660,000. It was clear that a very large additional revenue would be required noxt year. Supplies was passed by both houses.

ALTERING THE CRIMES ACT. (Received This Dav at 10.15. a.ni.V SYDNEY, June 14. Qlovornment are amending the Crimes Act, reducing the number of crimes punishable by death, from 14 to three or four. They will includ® only crimes where life is taken. In the older charges, provision was made for a verdict of first or second degree, tho first only carrying the death penalty.

The Bill is also preparing to fix the retiring, ages of Judges at 70 years.