AUSTRALIAN POLITICS.

Taranaki Daily News, Volume LIII, Issue 205, 8 December 1910, Page 5

AUSTRALIAN POLITICS.

NEW SOUTH WALES FINANCES. CAUTIOUS POLICY URGED. By Cable.—Press Association.—Copyright Sydney. December 7. Mr. McGowen, in his Budget speech, stated that the year opened with a credit balance of £637,G77, and closed, taking all sources into consideration, with a surplus of £989,766. The railway earnings gave a net return of £4 lis 7d per cent, on the capital expended, and the tramways £4 10s 6d. During the year the railways and tramways carried over 254,000,000 passengers without a single fatality. The Harbor Trust proposals included largely increased berthing accommodation for vessels. It was proposed in the current year to finance the closer settlement fund by £350,000 from loans, making £963,000 available. Practically the whole of the money would be expended in the acquisition of land and contingent expenses in settling people. The total advances made to setlers so far were £1,362,853, of which £796,762 had still to be repaid. The public debt last year was £90,307,416, and was reduced during the year to the extent of £282,613. Current accounts in the Government Savings Bank were £363,172, representing £14,559,529. The estimated return from the Commonweath would be £1.370,000 less than last year, and it would be necessary to practice most rigid economy to prevent the revenue falling short of the expenditure. THE CHRISTMAS CLOSING. RAILWAY COMMISSIONER'S POWERS. Received 7, 9.15 p.m. Sydney, December 7. In the Assembly. Mr. Beebv promised an amendment of the Early Closing Bill, to enable shops to open on Christmas Eve. Mr. McGowen stated that the Government would consider the question of taking steps to remove certain powers of the Railway Commissioner, which Mr.: Parkes said were greater than those possessed by Parliament.