BUDGET IN BRIEF.

Manawatu Herald, Volume XXX, Issue 409, 11 July 1908, Page 4

BUDGET IN BRIEF.

An Analysis. (livening Post.) Surplus, ,£767,849. Revenue for year, >£9,055,946. Excess over previous year, ,£656,871. Expenditure, >£8,213,965. Excess over previous year, .£439,039- TTT , Transferred to Public Works Fund, ,£BOO,OOO. Aid to public Works since 1891 totals ,£6,430,000. This would have had to be borrowed “had we not such a buoyant revenue.’’

Treasury bills have been reduced by >£150,000; still outstanding, >£400,000. “ For the conversion of debentures, >£340,676 of 3>£ per cent, stock was issued, and ,£33 2 >7°° debentures were converted.”

Payments to local bodies during the year amounted to >£136,420. Gross public debt on 31st March >£66,453,897. Increase during the year, £2, 274,857.

“ This may appear to be a very large increase. ... A large

portion is devoted to expenditure of a reproductive character.” Out of the profits of the State coal mines account, >£40,000 State coal mines debentures were paid off. Eoaus to the extent df ,£2,582,900 fell due during the year. “ I was able,” said the Minister of Finance, “to very satisfactorily arrange for their renewal on payment-” The working of the new tariff has been very satisfactory, most of the changes being of such a character as to facilitate the entering of goods at the Customhouse.

Laud tax exceeded the estimate by >£22,864, or >£90,504 in excess of the amount collected the previous year.

The aunual revenue of the Post and Telegraph Department “will soon exceed one million.”

Telegraph extension last year cost >£155,491. About eight millions have been granted to settlers under the Advances to Settlers Act. To workers under the Advances to Workers Act, >£296,305 has been advanced.

Land revenue totalled £658,792. Crown tenants now number 24,096. Sixteen estates for closer settlement were purchased during the year. Total area, 126,868 acres. Price paid, ,£565,728. Capital value of estate acquired up to the end of last year, ;£5.2i7.254Public service classification “ was a boon long looked for by the service generally.” A Bill amending the Public Service Superannuation Act will be introduced this session.

Export of gold was slightly less than that of the previous year. The export of silver was a record ; .£25,912 greater than the previous year.

The production of coal for the year was the largest ever raised. Operations in the State coal miues have been very satisfactory eluting the year. The net profit of the two mines last year was £8440. The scheme for penny a word Empire cables is, in the opinion of Sir Joseph Waid, feasible, and has his entire support.

Post-audit to be introduced. “The name of every person to whom a' payment is made, and every penny piece of expenditure will be set out in detail, and laid upon the table of the House.” A Bill will be introduced to vest the Manawatu Railway in the Crown on 7th December next. Contribution to British Navy to be increased to £IOO,OOO.

“ Purchase of land and erection of homes could be eased off. . .

Operations could more advantageously be conducted upon the systematic basis that the Advances to Workers provides.” A national superannuation fund to be inaugurated. A superannuation scheme for employees is to be inaugurated. Special land settlement proposals to be introduced.

£650,000 is to be provided for roads and bridges ; £250,000 for roads in the backblocks..

Completion of the North Island Main Trunk Railway is now well in sight. The last rail should be laid about the middle of next mouth.

“It is erroneous for any one to suppose thafthe policy of not insuring the public buildings of the Dominion is an unwise one. . . .

It is the cheapest, and consequently the wisest.”

The awards of the Arbitration Court must be respected by both sides. “If this cannot be achieved, then the Act must be repealed.” This year loans to the extent of id?) 1 33> 2 38 will fall due. Arrangements have already been made for the renewal of ,£1,750,000. Estimated expenditure, for this year, £8, 662,993. Estimated revenue, ,£8,985,000 A million and a quarter loan this year.