DOMINION FINANCE.

Taranaki Daily News, Volume LVI, Issue 292, 13 May 1914, Page 6

DOMINION FINANCE.

MR ALLEN'S OPTIMISM. By Telegraph—Press Association. Wellington, Tuesday. Speaking of the Dominion finances yesterday, Mr Allen stated that every item of revenue showed an 'increase over the previous year, except territorial revenue. This item would have shown an increase but for the fact that the money derived from cash sales of land was now paid' direct into the Land Settlement Account, and not treated as revenue. Owing to this course the territorial revenue showed a decrease of £64,000. The amount that had thus been paid into the Land Settlement Account instead Of into the Consolidated Fund amounted to £BO,OOO or £90,000. If he had treated this amount as revenue the territorial revenue would have shown an increase, and the surplus for the year would have been much greater. Under previous Administrations the proceeds from the cash land sales had been treated as revenue and had gone to swell the annual surplus. For the year just ended this amounted to £427,000, fjut for the purpose of comparison with the surpluses of previous years the sum derived from land sales should be added, making the amount over £500,000. The total increaso in revenue for 1913-14, as compared with the previous year was £495,398. Land tax and income tax receipts Bhow an increase of about £130,000, railways an increase of £60,000, miscellaneous £03,000, and national endowment revenue about | £13,000.