DOMINION’S FINANCES.

Manawatu Herald, Volume XLVIII, Issue 2995, 6 February 1926, Page 2

DOMINION’S FINANCES.

SATISFACTORY POSITION.

In a summary of the public accounts' which was gazetted on Thursday, the Treasury says the finances of the coutry, as disclosed in the accounts gazetted for the nine months ended 31st December last, show a satisfactory position. In comparing them with the similar period of last year, allowances must be made in connection with the separation of railways revenue and expenditure from ordinary revenue. The accounts have not yet been finally completed. Eliminating foy the purpose of comparison the railway revenue, which is being transferred to a separate account, the total revenue collected for the nine months amounted to £14,806,362. For the same period last year the amount was £13,506,548, there being thus an increase of £1,299,814. The principal increases are Customs £663,942, Post and Telegraph £232,129, interest on public moneys £234,693, interest on railway capital liability £350,000. The increase in interest on public moneys is due to payments on account of [lie discharged soldiers’ settlement account which is being made this year in two half yearly sums, instead of one payment, as last year, while interest on Railway capital liability is not comparable for the reasons given above. Again eliminating railway figures for the purposse of forming a comparison, the total nett expenditure from the ordinary revenue account for nine months was £16,654,884, us compared with £16,052,679 for the same period last year, an increase of £602,205. In permanent charges under special Acts, there is an increase of £174,671, largely due to additions to Old AJge and Widows’ Pensions.

Gncler departmental expenditure, the principal increases are Defence £43,011, pensions £52,722; Mental hospitals £20,106; Health £28,431; Internal Mail’s £29,841; Naval Defence £32,175; Electoral £76,698; Agriculture £38,427; Education £45,639. _