PARLIAMENT.

Taranaki Daily News, Volume LIV, Issue 321, 10 July 1912, Page 5

PARLIAMENT.

HOUSE OF REPRESENTATIVES. THE FINANCIAL POSITION. By Telegraph—Press Association. Wellington, Last Night. The House met at 2.30. The Wairoa Harbor Empowering Bill (Sir James Carroll) was read a first time. The Speaker reported that lie had, with several members, presented the Address-in-Reply to the Governor's Speeeli, with the additional amendment carried by the House. In reply, His Excellency had intimated that he was now taking steps to ensure the formation of a Ministry which would have the confidence of the House.

Mr. Myers read a letter from the Amalgamated Society of Railway Servants, intimating that they had decided to abandon the petition which was placed before Parliament in 1011. The letter was signed by the General Secretary. On the Minister's motion that it should be laid on the table, Sir Joseph Ward asked for an explanation of the causes that had led up to a withdrawal by the Society from its previous attitude. The Minister replied that when he entered office as Minister of Railways lie found that the Society of Railway Servants had 96 grievances. As a result of a number of conferences between the executive of the Society and himself he had seen hip way clear to acquiesce in the demands on a number of matters. He had not found justification for acceding to other requests. On the whole the executive had been satisfied that an earnest attempt had been made by the officials of the Department and the Minister to bring about a better feeling between the Society and the Railway Department. The Society had, therefore, decided not to proceed'with its previous intention of presenting a petition to Parliament similar to that before the House last session.

Mr. Laurenson mentioned, in connection with another paper presented to the House, that the Cabinet had authorised that a light be placed either at Turu Point or Cape Terawhiti (Cook Strait). A final decision had been deferred pending an inspection of the respective positions.

On the application of the Prime Minister three days extra were granted to the Privelege Committee set up in connection with the McCallum letter to report to the House. Mr. Myers laid before the House a statement showing the state of the country's finance as at June 30, 1912. The balance on hand at March 31, 1912, was £807,276. Since the close of the financial year the revenue was still increasing, as the following figures demonstrated —Consolidated revenue account: Balance March 31, £807,275. Revenue from April 1 to June 30: Ordinary .£2,388,387;, territorial, £29,606; national endow-' ment, £59,413; total, £2,477,497; grand total, £3,284.773. Expenditure: Permanent appropriations. £1,199,407; annual? appropriations £1,552,818; total £2,502,206. Balance June 30 £782,540. It was a J pleasure to point out that there had been I no necessity to issue Treasury Bills this J quarter. The Minister estimated the rev- I enue for the present financial year at £11,014,909, made up as follows: Customs £3,200,000, railways £3,745,000, ? tamps £898,800, Post and Telegraph £1,141,000, land tax £650,000, income tax £450,000, beer duty £119,000, registration £95,165, territorial revenue £240,000, endiJwment revenue £59,414. The expenditure is estimated at £lO,737,055, compared with an actual expenditure of £10,340,368, during the last year. The balance at the end of the year is estimated as follows: Balance from last year £807,276, estimated revenue £11,014,909, total £11,822,185. Estimated expenditure £10,737,958. Surplus £1,094,227. From the latter amount must be deducted the amount to be voted on the Supplementary Estimates. This will allow a transfer of

£BOO,OOO to the public works fund. They had every reason, the Minister said, to congratulate themselves upon the buoyant state of the affairs of the country. His successor would rejoice in the satisfactory state of matters. He did not consider it would.be necessary to go on tlie London market for some time. I-Ie regretted that it had not been his privilege to present to the House the Financial Statement, indicating the thoroughly satisfactory and flourishing conditions existing in the country. Sir Joseph Ward rose to congratulate M*. Myers on the very interesting news' just presented by him. These satisfactory conditions should fill Mr. Myers' successor with confidence. It was a se-; quence to the harshly criticised financial' methods of the Liberal Party. He would look forward to see what items would he reduced by their successors in office. The statement was indicative of the healthy prosperity of the Dominion, and hs -would 4cty anyone to produce anything like the' state of affairs now existing in matters financial in the Dominion. He called attention to. the fact that the . incoming Treasurer was starting on a "magnificent wicket." He was certain that they would -find that the altered political conditions "would not deter some members from asking for a full supply for the backblocks. The statement should enthuse the worse pessimist'inside or outside the House. He congratulated the Minister especially in connection with the figures relative to the first quarter of the year. Mr. Russell then laid before the House a list of antiquities from New Zealand at)d other Pacific Islands donated to the Dominion from Lord St. Oswald. In connection with the Dominion Museum, Mr. Russell stated that a site had been chosen for a building in Wellington. It would be 150 feet long and 50 feet wide, containing two galleries and a basement.