THE FINANCIAL OUTLOOK.

Taranaki Daily News, Volume XLVI, Issue 36, 12 February 1904, Page 2

THE FINANCIAL OUTLOOK.

The people of New fealu-iifl slioulil congrate-Lite themselves upon the healthy stale of affairs disclosed by the statement made <,y tlie CoJoniiil Twa.sui-er of the colimy's iimuiees as for thu niim'muntilis ondul December 31st. In that Mi- Kcddon conveys the pleasing intclligojicc that a surplus of over half a million sterling should ho shown on March 31 si, the end of the financial year. Year hy lear the colony exhibit* a steady Kl'owJi in the volume of its li'mle, and this naturally is reflected in the public accounts, the revenue showing a oorrespon-ding incn-ase. A comparison of 't'.e revenue, for 1902-3 and 1903-1 gives the following lig--19U2-3 1903-1 Customs 1,082,388 1,800,010 Stamps 590,515 081,990 Postal "70,50:1 8.%917 Land T H x 200,0211 828,796 Income Tax 10,3«1 o.UJO l'l-opei-ty Tax -r 3 lieer Duty 03,399 01),018 I: always 1,359,.175 1,505,340 HpßJsti-ation 5-1,81!) 110,137 Marine 2)3,7*34 25,588 Miscelluneotiß 75,38 ft 80,997.' £4,220,779 £4,708,580 From this it will be seen that Customs, railways, and land tax giy»

an increase of £3(>2 : ,78 I—an expansion thai is remarkable. 'l' ll ' '"" creases in these departments were respectively £178,252, £1 15.705, and £38.767. The Minister for Railways during! IVif' ntne mouths of the current financial year lias retrenched expenditure in his department' to the extent of £-18.478. so rival even alter u large sum lms )>ecn transferred to the I'ublic Works fund, a suhsuintial balance lias beiiu carried to the credit of the. account (or the lust. quarter of the (ijiauciul year, li Mas estimated bv the Colonial Treasurer that in two departments alone-the Colonial Secretary's Ollice and the Defence Department—a. reduction of over £1120,1)00 would this year be effected upon last year's expenditure. The nine months' accounts show a reduction'o» £-12.099 in Uin expenditure changtd to /the defence \ote. and of £2l/193 in the appropriation in respect of the Colonial Secretary's. Ollice. A further reduction of some nioineiiiL occurs where it was not looked for—in the Railways Department, which,' while it has produced, as compared with the. preceding year, an increased revenue of £l-15,705, has done so at n reduction of £22,432 in the cost of working. It is, it will Jie gathered, in the ordinary departmental operations that the curtailment of expenditure, has chiefly -bcwi effected. When increases in the -appropriations for vnilious brandies of the pu.lUic service have been allowed for, the net reduction in the nine moat lis' iwpenditure in respect , v of annual voleM ■ amounts to £37,449, a sum of -til, 029 remaininfi » s l ' lw Hlivin 8' "P nn the expenditure that is RYiverned by permanent Acts of Parliament. In the latter item a principal factor consists in the reduced outlay upon old n'gc pensions, the increased care that is tttUn by the ofllcials to see that the pension is bestowed only oa Wiose who ar» deserving of it being, • it may be presumed, directly responsible for a diminution of £8573- in the amount distributed to pensioners in the nine months. The total receipts for the nine months of the vear were £5,234,422, and the expenditure £4.783,780. thus showing an actual surplus of £-150, 012. Taking tlresc llgures as a basis, and assuming the the revenue and expenditure for the current quarter will fx! up to tin; Treasurer's estimate, 'there is rcuiipratUe ground for, presuming that Oie surplus will be one of thet largest on record.