A SURPLUS.

Hokitika Guardian, 23 April 1926, Page 4

A SURPLUS.

STATEMENT BY -MINISTER

WELLINGTON, Ap. 21. Although tin- country's accounts tor the past financial year have not yet. lioen completely made up, it was announced by the Minister of Finance (the lion. W. Xoswortliy), when .speaking at the. Chamber of Commerce dinner to-night, that the year’s ojierations will show a surplus of approximately £l,100,(X)0, which the Minister considered extremely satisfactory. I The revenue, he said, was very htiovI ant for the year, and the aggregate shows a substantial increase over the previous vein's, in spite of reductions in the rates of taxation. A largo amount of revenue was necessarily derived from Customs duties. These had increased largely. The readjustment of imports had reacted upon this source of revenue. Thero'was need for an exercise of prudence to assist in restoring the economis balance. The income tax for the year just about equalled that collected during the previous year. This was an indication that the prosperity of the I Dominion was well maintained. ‘‘During the past , two years,” the Minister continued, “the country has purchased wheat and Hour of a total value of approximately £2,250,000. These products could well bo produced in our own country, and it Is the policy of the Government fo assist in every way to accomplish this. We wish to increase the buying “of New Zealand made goods and generally encourage local production, so that wo din reduce, some of the overseas commitments that have been made during the past feu years. In this way we will safeguard our position in the matter of employment. ‘Traders will readily recognise that it is in the interests of all that primary and secondary production should increase. Anything in the nature of extravagance will lead to national difficulties. Although I speak as a farmer, I also speak ,as a New Zealander horn and bred. T feel sympathetic with the commercial community, and

with the people who have to earn their living as well as with those who are ill the country. Long before f l>ecame a member of Parliament I recognised that only by increased production, both primary and secondary, is the cheapest way, can we work out bur ‘immediate salvation. I do not say that we nre not doing alright, but there is no wiser expenditure, than that of putting top-dressing on some land that lias, the pa.st sixty years, been giving us a good return.” The Minister advocated the treht-f nrent of both second and first-class label as well as poor lands. New. Zealand was possessed of thrifty peo- 1 pie, but it required some more of the “Scotch” thrift jn order to make the Dominion the country that it Should he.