SATISFACTORY FINANCE.

Taihape Daily Times, Issue 211, 14 October 1916, Page 3

SATISFACTORY FINANCE.

AUCKLAND, Oct 11. The Hon A. Myers, Acting Minister of Finance, states that the total ordinary revenue for the six months ended September 50 amounted to £6.349,62]. against £5,456,500 for the corresponding six months of the preceding year. The difference in favour of the current year £893,127, is ascribed partly to additional taxation and partly to the buoyancy of the revenue, due to the continuance of commercial and industrial prosperity. The expenu ture consolidated fund for the si months was £6,256,903, against £5. 930,410 for the corresponding six months of the previous year. The in crease of £318,484 is accounted wholly by the war bonus and increased payments for interest am] sinking fund. The excess of revenue over cpenditure for the past half of the yea; amounted to £92,724.

The Hon. A. Myers added: —"I venture to utter a note of caution against accepting the present financial position of the country as evidence that the difficulties of finance are at an end. It is impossible to predict what the future may bring forth, but it is certain that with the rapidly increasing expenditure it will still be necessary for all Government department:to continue to exercise strict economy in all matters affecting expenditure out of appropriations made by Parliament, which the figures disclose. Although Parliament last year authorised as a precautionary measure the borrowing of additional amounts for public works, it will not be necessar; for the present to raise moneys un oTer that authority."