The Daily News. MONDAY, MAY 2, 1904. THE COLONY'S FINANCE.

Taranaki Daily News, Volume XLVI, Issue 100, 2 May 1904, Page 2

The Daily News. MONDAY, MAY 2, 1904. THE COLONY'S FINANCE.

In another column we publish a full statement of the finances of the colony, showing the result of the past year's operations. The position of the colony at the present lime is Bhown to be eminently satisfactory, despite the croakings of the pessimists who are ever delivering! dissertations on the bad times jvhich they allege loom large in the near future. The recent tightening of tho money market gave these people another null on which to hang their disheartening logic, and the Government has been roundly attacked for steering tho colony oji a course of extravagance which must lead to the downward grade, and sooner or later spell ruin to the country. Instead of this we llnd that the Premier is nljlo to announce a surplus, showing careful administration of tho public funds. The revenue is still on the increase, another proof that the prosperous times are yet with us, and that Xew Zealand is not yet on the wane. The present nre years of plenty, and from the statement published by the Colonial Treasurer we may safely conclude that tho seven lean years are still distant. The revenue for the year ending March 31 was £7,021,380, an advance of £(13'1,77(» on the returns for 1003, and an excess 0f£553,38U over the Colonial Treasurer's estimates. Heceipts exceeded expenditure by £()9."),N35, and this, added to the balance of £303,905 with which the financial year was commenced, makes a total of £999,740. The sum i,f £22.5,000 was transferred to the Public Works Fund during the year, and on March 31 there was transferred an additional £125,000, a total of £350,000. This leaves the Consolidated Fund in credit to the amount of £(i4t>,7<lo, and thus the new financial ,\ear, commencing on April 1. is ushered in most. satisfactorily. Xotuilhstunding, then, the increased departmental expenditure, the colony is to-day in a financially sound condition, and as a result of the careful ndiniiiistnvtion (liiringiilhe past year our credit has been beneficially influenced, and the colony enters on another year with every indication Ihat tliis will be as prosperous as its immediate predecessors. Wo congratulate the Hight. Hon. the Premier on the very satisfactory position disclosed, and hope that it may long continue.