The Budget

Taranaki Daily News, Volume LVII, Issue 67, 7 August 1914, Page 6

The Budget

A SURPLUS OF £420,905. BUOYANT REVENUE, IMPROVEMENT OF OLD AGE PENSIONS ACT. A MILLION" LOAN FOR ROADING. TWO MILLIONS FOR PUBLIC WORKS. By Telegrapu—Press Association. Wellington, last night. The Minister of Finance, the Hon. James Allen, in the course of the Financial Statement in the House of Representatives this afternoon, stated that notwithstanding serious draw-■ -backs, tlic revenue for the year showed wonderful buoyancy, and it is with gnat pleasure that he announced a surplus of revenue over expenditure of £420.'>05. Better evidence of the recuperative powers of the Dominion has never been shown during its past history. When comparing the past year's revenue and expenditure with that of previous years he would ask members to bear in mind that a great proportion of the territorial revenue which formerly went to swell the ■ Consolidated Fund now finds its way ' into the Land for Settlements Account • under legislation which was passed by present Government. As the year 191314 was the first year in which this change was brought into effect, it will be necessary for purposes of comparison to add to the surplus for 1913-14 a sum of £BI,OOO. representing the amount of the territorial revenue which would in previous years have been credited to the Consolidated Fund. It must also be borne in mind that prior to the assumption of oflice by- the present Government it was the custom to replace buildings destroyed by fire out of the Public AVorks (Fund. This practice was stopped, and £IO.OOO has been set aside each year for the last two years out of ordinary revenue to build lip a fire insurance fund. Further, the Government, in order to make the Public Service and Teachers' Superannuation Funds financially sound, lias had to provide each year from ordinary revenue an additional amount of £35.0011.

"I think it will be admitted, in view of the above facts, that the handsale surplus which has been announced.;' is proof o" the soundness of the liberal and progressive legislation which has been endorsed by Parliament, and also of ("ireful administration on tin- part of the Government." REVENUE. The revenue for the year wa.s estimated at <:! ].;>■■ y !•_>, but the total collection., amount' ' to £12,224.330, or -_■ '1.737 in exec- of the estimate. ' Tno < 'oiHniida'.eil Fund revenue, for the tinamial year ended March 31 was £12224.33!!. as compared with 011.032,544 in 1011-12. The revenue in the case of each revenue-producing department shows a satisfactory increase over the revenue of the preceding year, except. ~:' course, the territorial re'vemi". tor th■• reason uh-eadv -tatcd.

The estimated expenditure for Hi|:iIt was UHP-:>.7:!.->. and the actual expenditure ril.S2ri.Sii I. the aiuoiini 1,.-:-. than the estimate l>ein» a; 1.-71 Under the h-ailine "of lu'ci •'> :nd Sinlvin.ir Fund tliere is a ron-Mera'de increase over the previous via:' ,ie„r.. ; . This diU'erellee is :«■( tit."':! for ie,- !]:,■ increased indchtedno-s „; (!■.. |)„. ,;.,;„„ and hy the fuel that inter.- i, |, ; .,| i,, he found for a considerable amount of loan-money which was raised for t;,,. piirpo-.c oi redeeniino other loans uhout to mature. The loan money uhich wa vaiseil for redemption purpose-; was not allowed to lie idle, hut was placed on deposit at varyiii- rales of interest. 'lhe increase in connection with the j Post and Telejrvaph Department was due to two main eua-s s -[]„. staiuton increases to oliicer-. provided i)v the'!>,,;>lie, Service Act. and the expansion of husiness, which produced an increased revenue of t'S!l.."iilll. As rowan's tin.(Hilary vole, there were aft lie !„>- f-'innine; of the year .-,,"7.-, ~<.,*..,„■,,,( officers, which number increased duriii" the year he m. The total increase under tins head amounted to Co.") IDS which is not an excessive, amount when divided anion.? si.el, a lame numher if oll.cersand who,, the new appointments. ,owm« to tin- expansion of the Service. are also taken into consideration The amount of ei!U"">:s l.v which the e\,„.„. tlitnre on the 0i1,,.,. Ileoartmental votes niciva-c.l is due to 11 span-ion „• (],, Service. The conveyance Emails n..ces. staled heavier expenditure, o:, a-cou-o "t their increased volume, while urrca''-; "lent aniounfiio/f,, ', "•" *'-*-. ) '' l ' ;l ' 1 ' -";••. - • —r, -- hwiic ti'ir.ni.

-\'<»n- of tin' Treasury Ml!-: is-,;,-,! ;„ anticipation <if ivu'inic kciv r>n}.-1:• n-!-iiifT on March 111. 1«IJ -1. a,i<l that it \v.i< nut n.iiinl !h-i-i'<str;.- for 111,' i.,,vrr,i-m.-iit ;>(, iinv time iliiviii'.' tin- icu to nii-c m.,11,- !, v ~l:-,lpin- (!i,. 'l! -c;v,. I'liin! -i untie, !„I,> i„ 1. ( ,„ ( |,„|, I iii' t"!al I'rvciui,. „f the IVh'v ;!,'!!,litlliV 'J-.TS.-O,!!:. I,, U Jll'.' a 11.,|i1,i.',' at Mnivii :il, mil. „f €1.175.:,51. This wit!. 1!,,' Inlnniv or loiiii-nimii-v lo ivei'iv,.. e-7iws. I!ial:i . s u... ■„, l .„ mit avaih,!,],. »„!, vvl,i, i, to -tart the current year. ei.H:'i,-ili'. ]?i':i)i;.\ii'Tinx (ir i.<i\\s i'.\i uxr on?, llMll.' li,„ly,| ;,,;yea.it wa.p.M:!,,! out 1:i,,; ~,iruio the pen,„| from .| n l v I, !!*!■'!. to March :il. I!U.-,. loan, aniin.nti»3 to C|!l.U:i.i;ii.s w„iii,l mature. Of tins total ii,, !,..„ a >M in than -X 7-'7 "i ,| wii-i 1„.|,1 „„t,i,1,. Xl . w Zealaml, an,? p'roTision ha.,! to !ii' ma,it, for (he ivdeniption ~i ihis Mm, at niaturiiv. The (i0v.'nii,,,.,,!. «;,- abli- t„ borrow ,„, ,|, ( . '• (,l "l'-» ii-1,,'! an,| on favoruhl,' tearU toial iii„i,i,nt of t;.-i.l!i.|.ii!Mi H !ii„li „iii Hiilii,-,. t„ ,„,,.,. all l„ a „, laljin,, ,;„, ai Unnloii ii ; , t „ tj„. ~,„) ■ v.nvnil,,..IUI4. T!„. ahovi' -,„,, „f us 7->7-,"!;,:' clii.l.- tli,' whole „f t|,,. fimr-ai,,]',,.:.,,;'■_ million. Hv„-....ais loan of lull, an,! i|„.

l.Tin,i,vHi,,| |,„ n i, „ ,„• t! ,,n i;,,. ~,l] V..,, I°an mi ini'i. iinxnintiny to l:; I t-'i;:,:: Tl '" i>l|!i! i'' D.'i'l. sinhiii- I r ni',.| "i,"i.| !'>' tl'-' Sll|>.-!'i!l1r;„lrnl „, t iir Male V,!. vancc-, (Hli.r. with in(,. ri .,t. m..,.,-,,,,.! „',., nmy:,n|, i„ f. li;|-,s. ;1111l j, ,„/,.., .'/, itutiiorili.--. a- j,i-,,vi,i,.,i 1,, ',,',. ''|.'i'' '' i;-i,t Kx1in,!,,,,, .\, ~ !.|i, ; ■'•,■;„, ~,'„'„.,',.',' r ". }'■!'- | l ll ";i"'-' •]'!!•:.,- 'l l','. ',!:, l ' j '.''„t i'i'iii.ic ::i-:i'(ii:'.i. in*tl„. (':„,:,„!-;,.,,,•. ~,,,._, liMincnt. the Cmi'mi-5i,,.],.,-']•,., '■'„■',]' i-,,. improvements, ami r,. r ,,rl- ,„,( ~.,:, ', . ( tli,. ~|li,-i,.„,v of (i„, Service | Pi ,',';„., n'.. improved. I,iif. |], ; ,t. ~r,.,iMini,.- !,„;,. !,. ..',. WlVted. or are in pr„r,.-s ,„• ;„.;„., ;,,.' ti-.xln,-.,!. „i,i,l, wi i! ~,,„„ iu ~„ „, : , mated saving of Ci;.l.i:il!) i,..,. ■ ■..-.■,,„. |A! .the-:,,,,,, tin... TV s,l:;ii,-l ~,'„i-; ! :,•'" i |'iirli<-ul:ivh in (1„. )„„,.,. ~|:,-e-' ;. m ; h..ou eonsideraMv i ln] ,r„ Vl .,| \ ,„';„] niiim wave ~„. mari . i( ,, l „„.,, iu j||r |lu|i _ lirServiee !ms I h establish,.,!. c :1 1,;,„, t ha* deeidod fo ~,l mi t officers „r th, lublie Service ami Ilailwav .Service to |oreuj)y positions upon local bodies am! this i privilege in some, instances ba's already boon taken a ,HW a „» „f

pnrsi.M si-.iiwK superannuation FUND.

Tho ii'r.'.mi- during the year ended the 31s!, iV,v.'Vr, 1913, was £185,403, including '.J ;'\' ; "'' annual subsidy from the Go.' :-.. ' The amount contributed 1: '.ivir'vrs of the fund during the year \\;>- J110,125, the balance of the incojii-- w:.; made up of interest, £20,804, ac! cues, £234. The total payments in; l.iie year amounted to £7I.MM. Yi'U includes allowances to members ;,i. i • widows and children of deceased u■<■".: rs, £58,238, as against £50.781 fip.- i:.- previous year; contributions rei'un.l.'d, C10J57; compensation. £942; and .'-.p. uses, £11(17. The total value of tin- i;::i 1 at the end of the year was £s:i;,i i!. an increase of C 114,358 on the total at the close of the year 1012. Tiie number of contributors at the beginniir; of the year was 10,027, and 1427 ie-w contributors have joined 6incc. TEACIIK';-V SUPERANNUATION" FUND.

■ The incn'iv during tlie year ended December "!. HM3, was £84,405, made up as fnll.v. ■: Contributions of members, £ssaH ! h interest on outstanding contribution-, £2.204; interest from Public Tru-!.■!■. Cl'0.101; and Government su'i-iH,, £17,000. The expenditure for th. : year was £33,567. The value of the fund on December 31, 1013, was £205.130, as against £214.208 on December 3!. !!U2, an increase of £50,838. The number of contributors increased from 3041 on December 31, 1912, to 4280 at i!'e end of 1013, an increase of 045. RAILWAYS SUPERANNUATION FUND. The Aetna y reports that to make the fund sound it is necessary to provide an additional £25.000 per annum for the next three years, and that at the expiration o' three years a further investigation -diould be made to ascertain whether any additional contribution will be iveeYeil. A further sum of £25,000 will accordingly be placed on this year's estimates, making a total for the year of 1:50,000.

POST AND TELEGRAPH DEPARTMENT. Tlie volume of business done by the Post and Telegraph Department again shows a. i-i'M.dy and satisfactory increase, the ;evi'iiiie received during the rear amoun'ed to £1,257,537. exceeding that of the previous year by £39,500. The revenue derived from the sale of postage-stamps advanced by nearly ,<MB,OO!t, -one' perl ion of which must be ascribed to the increase in parcel-post business due lo tlie substantial rcductbn in the rates made on January L 1013. The Savings-bank deposits during the vear reached a total of £11.280.702. and the withdrawals £M.041,454, while the amount standing at the credit of depositors was C 17.131,414. an increase of CH01,150 over the previous year. The increasing excess of deposits over withdrawals during the past few months of the year points to a general improvement in tin! financial position of all classes of the coiiimunifc.

Tim nione.-onler and postal-note business continues to .-how a steadv in-n-case, the total value of issues' and sales resicctiwlv during the vcar reaching considers My over .Cd.iWO.'otM!. The in-rea-e in past years in the number of telephom'-cxeliango subscribers has lin-n more than maintained. STAMP D-EPAKTMEXT. The revenue of this department continues to -diidily increase in volume, the receints iluriii" the linancial year l!'l:J-H amounted to C1.221.U71. whi-h coii-titutcd a record. • I.AM) AND INCOMIC TAX DEPARTMENT.

The m f receipts for the pint war in tiii- department exceeded the estimate bv r !ti.;22: of this excels i' 4D.IH-0 was last ,<ar climated as the additional ,ie!d whirl, would accrue due to the increase of rah-, for income-tax passed last iM'.-.ion. >o tluil the net execs- ov-.-r the estimate should lie taken at lilil.lii. LAND TAX. The land-tax receipts for ih,. iinancial year PIPJ-U as , a red with tho.-e of the year llilj-l;! are .;„ follows:-PH:;-M, U7ii7.-t.~i! ; Ihli-l::. an in- • 111ADPATi'P LAN!) TAX. The i ~-arison bcfi'.ocn the number of payers of graduated land-tax and the amounts assessed for I!iiW-!l and PIPJ-ll is as follows: -LiLML ainouiil a-esscd. £SI,k-".V27ii; payers. (l,l!s' ; |!MIS-!t. amount as-os-ed, U.">.s\-|:i7.7lS: payer-. U7l: inciva-es. U-2.>.717..V>S and li>77. The explanation of this increase is to be found in t'ne large accretion to the unimproved value of the hind iu the Dominion since 1' US-!; -viz.. from .01.01,:'i:M.liiril to LJli.f'fll'i.l'il'lO 'thll- bi'bfg'bg more c.-tate- into the gi'adiuued class, while it also increases the value of tho.-e of :\i per cent, in the total unimproved value of the land in the Dominion produced mi increase of ;i2 •■■>■{■ cent, in tinamount assessed for ordinary tax and has added :« per cent', to tile u'.iiiibei of ordinary taxpayers. It, also produced an increase in the amount assessed for graduatcd tax of II per cent., and in the number of graduated taxpayers of :!7 per cent. Tiie (l-overniiieiit is of opinion that for the present these several provisions for elo-er settlement slllllee. but will not hesitate to act either bv increase of the gnuliiaiod laud tax. or'otherw He. in order to brim.; about the closer settlement which i- -o much desired. During the. hist two years and a quarter' i\\U\ rural fieelioids privately owned have hcen subdivided into lil'Mi subdivisions, the total anal being- 1.P2.~i,lifS acres. In addition 7PUi;i:S acres of ordinary Crown lands have been opened for selection during the same period. the Land for Settlements Act sine March :!!. I'D I, aggregating ifii.V.' acres.

No less than Sii.Siio acres of NatPe land ve-tcd in the Aiaoii Land Hoard have been ui-poscd of for closer sr(llmeiil purposes. As -bowing the increasing rate of C:

.■iiil.liviHiill i>V .l«!"a- „[ inhale e-ta.i:-. it Will lie 11011-l] lllllt- far 'tile Si.\ llluilihellileil Nept-iaiaa ::■!. 1:112. then: Wen:;ii:i Iml.iin:-. MiUlivhl.-d into 'J.")7 Mii.liihi..!;-.. -.'.herea-. i',,|- llle six l!!.lllllLc!k!.mI O.ln.vli :il. HM-I. sily ordinal holdiaa.-. v.eiv Milidivide.l ia'u u'lilii ],>t-. ~i n tnial urea in" 2a2.1ii2 urn-;. IN'i i)!li; TAX. I'i.i' :. .-ini. i,.i- in:;-li were .u.-,.->-1.-271. a- ;a.m;..ira..l will. 21ii2,!1!U in I=ll _ii I- an in;; -a v <,i i;:i|.2;r. (If thin in j iu tin' amendment i u (,■;„. nl |,. s ehar-e-I i' l '!''. and '.he bahm,.-. 'Jll.li'i:!. t(» ll.UliAi;i:irn..Trr.K. As ONI- aarhallilil'll indll.-lries MOW .Meld aiaiiii S.-> per eer.t. nf the total ex-. P'"'i-. ii. i< olr, ion- that tin- prosperilv <.f the Diaiinion i, intimate!-.- r levied 'with Hi.' -uic-s (,f tii,. .ipanliiais „f u,:ir I'anarrs and nf t.hu-e in preI'arinu i'ann produce for export. Tim at'iii-.oii was. mi the whole, an excellent ..!!.', with 111., result that tha ■c'lifjmt ,jl agricultural products was I itreater and u!' holier value, tlian many jiruvious year. Our principal >ines c'v

hemp,, h idea, id, ins and tallow—all maintained, am) indeed improved, their reputation in oveivmis markets, and most of them kliowi-iI a steady increase both in quantity ami in value.

Tlie mar'-'i.s for wool and meat continued very strong and gate no indication of an;, weakening tendency. There is every prububilily that the prices for produce will in the future continue to at least cii'ial tlxj.su of the past seasonand we may safely anticipate that the value of cur agricultural exports will continue to -diow a satisfactory increase. BOARD OP AGRICULTURE. Amongst the important questions to be referred to the Board of Agriculture for its careful consideration is that of the establishment of a system of agricultural banks, with the object of still further assisting struggling settlers. WORKERS' DWELLINGS. Steady progress has been made during tho past year in providing workers' dwellings, not only in the towns, hut also in the country districts. Last year tho total expenditure under this heading was ,-012,347, while the current year's programme comprises no less than 205 dwellings, entailing a gross expenditure of approximately £loo*ooo. NATIONAL PROVIDENT FUND.

There was a substantial increase in the membership of fhc fund during last year, the number of entrants at December being 5785, as compared with 2000 at the end of the previous year. The total number of applications for enrolment received at the end of the financial year—March 31, 1014—had reached 7538, and the funds in hand amounted to £35,000. During the year maternity benefits amounting to £OOO were paid, while at the end of the financial year the amount claimed by contributors on account of this allowance totalled, since the fund's inception, .€1055. PENSIONS.

Tin- gross payments during the year wen- as follow:—Old-age, £410,77-1; widows', £27,077; military?' £2-:U47; totals, £473,298. Xo less than 11(10 women between the ages of sixty and sixty-live and i>U4 veterans of the Maori War were granted pensions subsequent to the passing of last year's Act on October 11, 11)13. The'new pensions granted during the year were as follow, the figures of the previous year being shown by -way of comparison:— Old-age, ;;:«() (2.072); Widows', 1-21 (iin7); military, 747 (377). The Pensions Act will be further amended this session. Under the existin- law the pensions payable to the children or widows i., limited to four children in one family. It is proposed that in future the pension shall be paid in respect of each and every child under the age of fourteen years. Pensioners who miiy leave tlhe Dominion temporarily are at present debarred by law from drawing the pension which ha-* accrued during their absence. This anomaly will be remedied. British women who have, under the existing law, lost their nationality by reason of marriage with aliens are' to'be included within the benefits of the Act. A further amendment will allow a woman whose I'ii-dmid is an himif■• of a mental hospital lo qualify f:,r .: widow's pen-

It is (he ultimate object of the Government to abandon the present method, which penalises thrifty and deserviu" persons by excluding' them from the benefits of the Act on account of tacit-posscs-dng a home. This will entail considerable cost. The amending -Bill of tin* session will make provision for continuing the full pension to the surviving married partner in cases when the value <><' property left by the deceased would have had the effect of decreasing or completely extinguishing the pension. CUSTOMS DEPARTMENT. . Customs revenue collected during the ,iear end,-d March 31, IH-U, was

'.'.'!.12u.7-i!-, being ail increase of £ H),2li(; over t.lie previous > ('ill- and £171),741 over the estimate. The imports, calendar >' < 'ii i", excluding specie, wove C-io,:>;i;,.-.7!), as against X2l,(w:t,i;:ti in PIPS; ami the exports, excluding specie, v.viv U21,.-|p(,le2. as against lii t.ie previous year, Tlie ratio of imports to exports remains about the -iiiiie, but tlie value of the exports for ■];'!:; i-i the 'highest, recorded.the nearest iipproaeli to hist year's figures being in PMib when the total was ££!,lj-'Jj:) end ;t-27,7:.iii. MI.NIX (J. Tin' labor troubles during the rear .seriously alVeeinl the coalmining industry, for the tun.put of eoal shows a ([*■ crea-e of 2e!s,l>Pl tons as compared with the output iur the previous year. Tlie total value of all mineral production for tlie year was £3,175.7!>8, boiiw an brn ■!,'.: •.( J:;c -,T f over icsl veal-" produ, (.ion, STATU COAL MINK?. A statement of tlie litmnrial position shows a debit balance in profit and los.< account, of ■i:-2;l,:!l)7. witti a sinking fund of Ul:!,2!K), and a reserve fund of i'jSiM. The actual deliciencv is tlierefore Cltl-l. Tlie Scddonville Colliery has been closed. IKON' AND STLKI, fNTJirSTRY. Tliio |iro])osiils submitted by various persons interested in the development

of the Dominion's iron resources, after examination by a committee of experts, were carefully considered during tne recess. As a result it is intended to submit a measure for the consideration of honorable members, which if passed into law will encourage tho establishment of this important industry in the Dominion.

STATE FIUR IRSURANCE OFFICII. The State (Fire Insurance Office business for the year lhaa been the largest and most profitable in the life of the office. MENTAL HOSPITALS. The gross expenditure for the year on mental hospitals amounted to £160,096, and the net expenditure! to 0112,044. The receipts for maintenance, sales of produce, etc., totalled £47,015. PUBLIC HEALTH. The expenditure on new buildings ia considerable. The, larger hospitals are now being gradually replaced by structures of a more permanent character. Further provision will be made for medical and nursing aid to Maoris, especially in out-of-t)he.-way districts. It is found necessary to improve and increase the accommodation at the St. Helens Hospitals, and new buildings will be erected at Auckland and Christchurch. LAND REVENUE. The gross land revenue received during the year amounted to £1,008,496. SETTLEMENT OF CROWN LANDS. Satisfactory progress was made during the year in placing Crown lands in the market. The area offered to the public amounted to 474,580 acres, the number of selectors was 2051, and the area rejected 500,31)8 acres, being an average of 244 acres to eaeih holding. The Lands and Survey Department is vigorously pushing on the subdivision of land for settlement. The area under survey at the end of the year totalled 778.5*1-0 acres. During the. present year it is estimated that 790,000 acres will be opened for selection. At the close of the year there were 23,700 Crown tenants, occupying lWiOl.lol acres and paying an annual rental of £741,404. FREEHOLD.

During the past year t>49 persons purchased !t:),li!7 acres under tilie Land Acts of 1012 and I-!) 13, paying therefor the sum of £108,205. This amount, after deducting loan repayments and contributions to local bodies for road construction and maintenance, was credited to the Land for .Settlements Account. NATI(IXAL EXDOWMKXT." At the close of the year the area within the endowment ' was 8,007,00 i) acres, of which 0.525-034 acres are occupied at an annual rental of £03,000. The gross amount collected duirng the year was £M):j,27l, from which a sum of £l-5.007 was deducted for payment to local authorities by way of loan reparments, thirds, fourths, find halves, leaving a balance of £88,2(14. LAND FOR SETTLEMENTS. During the year 1*1,827 acres, valued at £560,497, -were purchased and offered for settlement. For suitable lands for dairying and grazing, values are, if anything, firmer, ami it is becoming more dillicult each year to secure this class of land at a reasonable price. There is still an unsatislied demand for land of this description. RAIIA VA V COXSTRUCTION.

As soon as (lie flotation of the loan ol last u-ar was assured, -a lw.iy construction throughout the country was •prosecuted vigorously, and ov the end of the limiiK-ia! year the amount expended approximated the total of the previous year. The expenditure amounted to £(10(1.448 for new linen sud 1 £4!t5,448 tor additions to open lines—a total of £],UH.S!W for railway a instruction during the 12 months. ROADS AXI) UIIIDOKS. The expenditure on roads and bridges from all funds during the year by grant ami subsidy, on the «ame system as 'has prevailed for many years past, amounted to £490,201. DEVELOPMENT OF WATER-POWEP,. The scheme undertaken by the Government at hake Coleridge for the development' of electrical energy up to 10,000 horse-power is now approaching completion, and it is anticipated tint the power will be mailable in the Citv of Ohri-ddiiiivh within the next two «':■ three months.

Inves.-.m.itions and surveys in regard ' to other likely sources of power within ! the Dominion are being made Ivy the ' (iovcniment's experts. TOURIST AND HEALTH KBSORT.S. A new and thoroughly-equipped hostel has been erected at Mount Cook, p-reatly increasing tiie accommodation. Tt is intended this year to make extensive additions to tile hotel at Waitomo Oaves. Tlie Rotorun bath buildings have been equipped with thoroughly up-to-date medical apparatus purchased by the balneologist, who recently visited English and Continental era's for the purpose of studying advanced methods el treatment. Tours to the value, of £44,251 were booked at tlhe Department's bureaux during the year, us against £,TiMi for the previous year. The Government has decided to pursue, a vigorous policy of advertising the scenic attractions of .Yew Zealand in Australia. LOAN" l-'OR ROAI>!\O..

The Ooveriiment has decided to afk Parliament for authority to raise one million pounds, the expenditure to lispread over three -ears, and the money to be used for the formation and metalling of roads in chose districts where readily is most urgently required. It is proposed that tl xpenditure shall be under the control of the Public Works Department, or that authority shall he issued to the local -boilv of the district when such local body is willimr and callable of carrying , )llt tlhe undertaking successfully. kI'A.N DOR iTRI.If WORKS. At the beginning of the vear .UI.-liiii.-2P-! was available for public Hoiks, but returns furnished to the li'easuiy showed liabilities amounting to .U!)!i-2,fl!)8. this leave- a balance of CI PI.II-1. to which is W be added Uii.ilfeU!). which I propose to transfer D'otii the Consolidated Kiind.. Authority will be souglhl. to raise a public "'orks 'o;ui an ling l( , eeppiv.ui'h. (TsTnAIS [;ivl''oll\f. It was the inlentiou of the Covemment to have undertaken n partial re-vi-bni of -he I'l-toms taritr this session, but ine .rave crisis which now threatens the irade and ocmmcrcc of the civilised world male it iiunorutive that nothing should be done this war to ,1"k'ravulo the troubles which are ,!-,„ f v disturoing our commerce.