The Boasted "Surplus"

Manawatu Herald, 30 April 1895, Page 3

The Boasted "Surplus"

An interviewer of Truth obtained the following information from Sir Robert Stout with regard to tha Premier's Surplus. The statement do«s away with the rosy hue of the oaae:— Reporter—" Can you tell me how we stand in a cash basis ?" B{r Robert—" Yes. Let us take that aspect first. I assume Mr Seddoh's figures are correct. Well, then, he had a revenue of £4,406, 515. Let us deduct the amount borrowfeff under the Consolidated Stocks Act, and' our net revenue is £4,288,715. We spent on ordinary expenses £4,266,722, and paid £250,---000 to the Public Works Fund. Oar deficit was, therefore, £228,---007." "Did you' say deficit?" ♦• Yes, deficit ; that is the fact." »« Well, then, how does Mr Seddon get his surplus ?" ••I'fl* *now* you. You asked me for »n actual cash basis and I have given it to you. Let us see how we Et a surplus. We had £290,288 it^a&ia a surplus, and we borwwixl #117,800 as I have shown you. Add these together. They come to £408,088. Deduct the deficit in the year's transactions £828,007, then we get the surplus of £180,081, which appears in Mr Seddon's statement." " Do yon admit a surplus,' then ?" "Yes. We have made one by adding together our borrowed money Jkat last year's surplus ;■ but the C^tiM»»cttoafl-ef tfaPTwr; fesving out borrowing and deficit, is as I have-slaffiL" ; : , :