DOMINION’S FINANCIAL POSITION.

Manawatu Herald, Volume XXXIX, Issue 1751, 13 November 1917, Page 3

DOMINION’S FINANCIAL POSITION.

EXCEEDINGLY SATISFACTORY. STATEMENT BY SIR JOSEPH WARD. Reviewing the financial position of the Dominion for the seven months ended October 31st, Sir Joseph Ward said in an interview yesterday, at Christchurch,., that on the whole it showed New Zealand to be in a very satisfactory position financially. The revenue for that period showed a decrease on the total revenue of £343,401 compared with the corresponding period of last year. The main decrease was in the customs and railways. The expenditure for the same period showed an increase of £345,166. The chief steps in the increased expenditure were in the Interest and Sinking Fund Account, Post and Telegraphs, Railways, and Education. There was also what might be termed an abnormal increase of £128,259 accounted for by the piuv chase of wheat. He further remarked that an increase in the Interest a*' 1 Sinking Fund must necessarily be expected (ill the end of the war, and full provision must he made for the expected decreases in customs and railways. H was glad to say that the position of the country from the standpoint of the ordinary revenue was exceptionally strong. As to how he would stand on the broad basis of the country’s need, a great deal would depend on the quantity of produce that could be got out of the country during the next five months, and every effort was being made that the balance of produce held, and that to come, should get away within that period. It was too much Jo expect that the whole of them could he got away, but we must hope for the best. “I may yeluark,” qdded -Sir Joseph, “that the next loan will not be put on the market till the very latest possible date, so as to ensure all moneys possible being back in the haiids of those on whom we may rely for the next loan to he us successful as its predecessors. The country has done so well up till now as regards loans that we can safely say that the future, judging by the past, is assured in that respect. Everything points to a bountiful harvest, and the country has a great deal to be thankful for.”