POINTS FROM THE BUDGET.

Taranaki Daily News, Volume XLVII, Issue 81836, 31 August 1906, Page 4

POINTS FROM THE BUDGET.

THE POSITION IN A NUTSHELL "The policy that Mr Ballancc started and Mr Seddon so brilliantly extended has made New Zealand prosperous at lioin<- and noted abroad. . ... It will be ue aim of this Government to maintain the high traditions they established.'' Estimated revenue for the current year, £7,867,000; estimate of expenditure, A/,575j97 2 - Including the balance at the beginning of the year and making provision for payment of £750,000 to the Public Works Fund the balance to credit next March is expected to be £320,823. There is to be a million loan in aid of public works. It will be raised locally. The authorities for boriowing four mi'iions under the Lands for Settlements Act are almost exhausted, and will have to be extended to five millions. The co'.onv's sition in a nutshell £ Assets 326,230.3X7 Liabilities 71,215,066 Surplus ••£255,015,321 Last year the estimated p rmanent charges wer«- exceeded by £i.S,coo; under annual appropriations a slaving of £189,000 was effcc'C'l; the revenue shows a nei increase nvr the estimate if £181,759. During the last year (he net public debt of the colony increased by £j,' 266,839. The total indebtedness is £62,191,040 —reproductive thirty-six millions, non-repr..ductive twenty-six millions. There is to be a uniform rat? of postage f r inland letters rf one penny for each four ounces weight. A uniform rate of a halfpenny per word for telegrams, with a sr.inimu 11 (f sixpence, will be charged from November Ist. The course to be followed in regard to the land laws— 999 yeats' lease to stop; capita! value of holdings may be reduced; tenants may convert into new form of lease. There shall be a limit—say £51,003 unimproved value beyond which it sha'l not be lawful for any person to hold land. All the ordinary Crown lands nowunsold or unleased are to be set aside as an endowment for education, old age pensions, hospital and charitable institutions. The Government intends to establish a complete experimental dairy station and school of instruction. There will be provision in the Public Works Estimates f- r continuing road formation in the back-blocks and newly settled districts. The comp'i tin of the North Island Main Trunk line nfay be looked forward to by the end of 1908. Repairs and additions to public buildings and maintenance of roads ?re to be provided for in the cons< lidatcd estimates. A hi'-! conta ninir matured provisions for national pensions or annuities is t) be circulated. Proposals for the superannuation and classification of tie whole'of the ■ i\il service will be submitted this session. The whole of the Government departments are to be placed under the Audit Department. To extinguish old war loans and money borrowed for land settlement sinking funds are to be created. The President of the Arbitration Court is 11 be relieved from judical work in the Supreme Court. The High Ommissioner has been instructed to arrange that nw voaii steamers between England and Australia shall come direct from Adelaide to New Zealand. Negotiations are in progress for the substitution of boats fitted with refrigerator plants on the VancouverNew Zealand service. The Government is considering the expediency of estabishing a board to control defence affairs, subject to the auth- rity of the Minister.