NEW SOUTH WALES.

Taranaki Daily News, Volume LIV, Issue 115, 4 November 1911, Page 5

NEW SOUTH WALES.

ITS PROSPEROUS CONDITION. INCREASE IN PRODUCTION. By Cable—Press Association —Copyright Sydney, November S. Last year New South Wales receive'' £1,40.5.371 less from the Commonwealth than in the preceding year. The sale of funded stock in Sydney amounted to £4,0(13,643. It was gratifying to know that they were able to raise locally all the money required for loan works. The Harbor Trust showed record work, and the western channel would soon have a minimum depth at low tide of 37ft. and enable deeper draught vessels to navigate it in safety. Building was also easily a record. Notwithstanding the increase, estate agents could not meet the demand for houses. The prosperity was shown by the fact that of nearly £400,000 charged for water and sewerage rates only £7l was outstanding. The balance at the credit of depositors in the Savings Bank was £22,02(5,332, an increase of over £2,000,000, the-largest increase in the history of the bank. Advances made to settlers were being promptly repaid. The production of wool, wheat and butter showed higher results than any previous year. Sheep at the end of 1!)10 numbered 45,.->OO.OOO. The production in the primary industries was as follow:—Pastoral £21,028,000; dairying, £4,778,000; agricultural, £9,489,000; mining, £8,453,000; forestry, and fisheries, £1,108,000; minor industries, £2,119,000. The increased value put on raw material in the process of manufacture was £lB,794,000, or a total of £39 5s 7d per capita, as compared with £24 8s 3d six years ago. The wheat yield was 28,(100.0110 Inched-: the butter manufactured totalled 72,<>25.00011>.. a record, •ind the export was 27.047.4511b., valued at £1.223.313. For the first time in history they were going to take the surpluses from the Government business undertakings out of the revenue and place them to the credit of the public works fund, for use in developing the country, not saving taxation. Mr. McGowen indicated that fresh taxation would be imposed for the purpose of establishing sinking funds to pay oft" the public debt. He did not believe in leaving all to posterity. Mr. Wade was glad to hear of the country's prosperity, but deprecated the statement as to increased taxation. Mr. McOowen declined to give any particulars of the proposed increase in taxation.