CHINA’S FIRST BUDGET

Hokitika Guardian, 7 March 1930, Page 3

CHINA’S FIRST BUDGET

OPTIMISTIC OUTLOOK.

u United Press Association —By Electric Telegraph.—Copyright.]

SHANGHAI, -March I

The first Budget ever issued by any Government in ( liina- was issued today by Tusung, .Minister of f 1 manee, at, the third plenary conference ol the Kuomimntang.

The Budget is one claiming to be the report of the national receipts and expenditure for the seventeenth fiscal year of the Chinese Republic.

The Minister explains that the Budget does not represent the receipts and expenditure of the entire country, but lie offers a composite picture embracing various areas where national financial control has been effective dining the past year. Ihe statement is incomplete, but it gives the entire receipts and expenditure of the Contial Government, including the regions under the Government’s authority, and omitting the areas where; the Finance Ministry has been unable to ad minister the revenue.

The Minister proudly points to the fact that the Government during the lir-t twenty years of tile He m lie ha> been able to break the vicious circle of living on foreign loans secured by the country’s current revenues. . He claims that the basis of the national economy is now sound, and is merely awaiting peace in order to exhibit its colossal strength, and to establish the national credit in the eyes of the world. The total receipts are approximately '434,500,000 dollar:. The .chief item ol expenditure, exel ’ding. the administrative expens:'|S, is shown to he the cost of the military campaigns which absorbed approximately -h-l.u- ••!).!'00 dollars.