NEW ZEALAND FINANCES.

Taihape Daily Times, Volume 8, Issue 13, 17 January 1916, Page 3

NEW ZEALAND FINANCES.

A SATISFACTORY YEAR

REVENUE SHOWS BIG INCREASE

WELLINGTON, Jan. 14

Sir Joseph Ward to-day made a statement regarding the finances of the Dominion. He explained at the same time what he had done and what |he proposed to do in connection with the war expenditure and loans maturing during the period of the war. Sir Joseph Ward said that the position at the completion of the nine months for tlie financial year up to December 3 .1, .19.15, was, upon the whole, exceedingly satisfactory. The revenue for the nine months exceeded that for the nine months of the previous year by £795,520, and for the’ month of December,191.5, as against December, 1911. there was an increase of £333,899. The Minister gave the following statement for the- nine months of .1914 and of 19.15 covering the portion of the whole of the revenue branches in full:— Customs.—Nine months -ended December 21, 1915, £2,455,307; nine months ended December 31, 1914, £2,427,550; increase £27,757. Stamp and Death Duties.—£9o7,3o9; £850,889; £110,480. Land Tax. £342,393. Post and Telegraph. £1,013,489; £102,820. Income Tax. £48,320.

Beer Duty.—£103,5.14; £94,543; £8

968. Railways. £191,905. Registration and Other Pecs.—£69,073; £05,069; £4,004. Marine. Miscellaneous. £37,778. Territorial. £24,999. National Endowment Revenue. £92,055; £78,770; £13,885. Other Receipts. £l2 007; £4,758; £7,309. Totals. £795,520. Marine, Miscellaneous, and Territorial show a decrease. WELLINGTON, Jan. .14. Sir Joseph Ward said that the financial! position of the ordinary revenue account on December 31st last was in a satisfactory position, with a credit balance of £1,194,000. Treasury Bills have been paid off, and there will b? a further large amount of Treasury Bills paid off at the end of the present month. The Public Works Fund on December 31st was in a strong position. The -expenditure for Public Works for the nine months ended December 31st was £1,752,637, all of which has been paid, and there remains a credit for Public Works expenditure of £1,801,412. WAR LOAN EXPENDITURE. j

WELLINGTON Jan. 14. ‘ ‘ So far as the War Loan expenditure for New Zealand is couecrned, I am glad to be able to say that this is definitely fixed until the end of fit-

comber, 1916. Provision has been made for an amount of £8,340,000, spread over monthly payments for this purpose. The whole amount comes from London through the Bri- ■ tisli Government. This should be regarded as highly satisfactory by all those who realise the position of n | .young country with a limited popula- j tion. With the war expenditure pro- | vided for, cask in hand for Public | Works until well on in 1917, and the ! conversion of debentures falling due up to 1924 for a period of 25 years, j the financial position of this country i should inspire confidence in our poo- ! pie, and they should be' able to con- | centrate their energies more whole- | heartely upon the war when they feel | that there is no' need for general un- j easiness as to cur future financial pcsition, when enormous additional sums j have to be, ami are being, raised to j meet the war expenditure, much of it } of a permanent character. Ti e | amounts paid to settlers, workers, and ; local! authorities for the nine months j up to December Isf last was £1,055.940, workers £241,795, and local auth- : critics £189,145. I may mention that j the total amount paid since the incep- j tion of the Department is £25,704.090, | of which settlers received £10,015,015, j workers £7,080,120, and local authori- j tics £2,009,555. ,