BIG FINANCE.

Stratford Evening Post, Volume XXXVII, Issue 28, 3 October 1913, Page 5

BIG FINANCE.

COMMONWEALTH BUDGET. A PROSPEROUS COUNTRY. [By EIiECThIO TELEGRAPH—CoPYRIGHI [United Press Absooiatjon.J (Received 9.30 a.m.) Melbourne, October '3 The Budget disclosed the Federal revenue for the year just ended as £21,899,413, which is £437,413 abors the estimates. The Customs excise yielded £1,533,033, the post office £4,and the land tax £1,564,794. The expenditure amounted to £2; ,507,863, being an increase of £1,383,841. It is estimated that the Customs excise revenue for the current year will be £14,900,000, while an increase of £325,000 is anticipated in the post office. Notwithstanding a' loss o. £417,000 on the penny postage, the amounts paid to the State for the past year were £6,024,930. The estimated expenditure included £1550 towards the cost of the visit of the British Association, £SOOO to the relief of the Antarctic Expedition, £4,250,000 for defence purposes, and £1,092,000 towards the construction of the fleet. The Treasurer proposes to float a loan of £3,030,000 to cover the cost oi the Kalgoorlie-Port Augusta railway. A sum of £3700 is provided for an aviation instruction sunool, and £3,270,000 fgr old age pensions, while the special payment to Tasmania is increased by £400,000. No fresh taxation is proposed. The Government intends to introduce a Bill to take over the Statedebts, relieving the States of all liabilities as they mature. The sugar industry will be assisted in every possible, way, including an effort to induce its cultivation in the Northern Territory. The Budget showed that 82,913 old age and 13,739 invalid pensions were operating,, and that 85,226 maternity. allowances had been paid. • It is proposed to amend the last-named Act to only pay those in need. During the past 12 years tlie savings bank deposits increased from 31 to 73 millions, the average amount per head increasing from £Bs 3d to £ls 6d. .The total trade of Australia in 1912 amounted to £157,254,000. It practically doubled in ten years, while tho, total value of tho production oi minerals in Australia was 811 millions sterling, gold representing 546 millions. Last year's wheat, production was 92 million bushels. The value of wool exported was 27 millions, i . . >-:i i ; i The treasurer announced that he ini tended to administer on safe and eco-'mimical-lines without favoritism; ,i Mr Fisher opened the debate, and resumes on Thursday, to which - date the House adjourned.