NEW ZEALAND'S, PURSE.

Taranaki Daily News, Volume LVII, Issue 278, 3 May 1915, Page 4

NEW ZEALAND'S, PURSE.

HOUKIi FINANCIAL. ESSmON*. WQUjfflS TOR TIIK,Y£AB.. " By Telegraph.—Pi ess Association. Dunwliji,. Last Night. i'lgurisa showing the, state, of the «m----ances of .the Dominion at the end of tlia tinanciai year (.March 31). were given to. a reporter by the lion. J. Allen last. night. Jhe Minister said the total re-venue-for the year was £13,133,100 an-, proximately. There might beßomesbgau variations, as the figures had not yet been audited. 'Fie total expenditure was. £l2.!).Sr>,!>Bl, leaving a. balance of £147,13* at the end of the .u-ar.. This balance was, the result after paying all Treasury hiUam existence on March.. 31, and aite* transferring £350 to the Public Works. Fusd. The full amouat which the Government stated it would transfer to Khveaue. included the -bsa&jioe of £420,005. brought forward from, last y?ar ana £12,443,525 of ordinary revenue. Ton revenue showed an .increase of £2l»,lStt over that for the w-yious year. T3he ordinary expenditure that was permanent and actual appropriations, waa £12,381,711. The. total expenditure intruded sinking funds set free to redeem debentures and leeoveries on account of previous years. Sinking funds set'ftto were used to pay iff loans which liecame due on July 15, 10J4y and Jftmuuy 2, 1915, to an amount equal to the sinkin/r funds 'set free.

Customs revenue, was £259,4*0 legs than last year, and though railway revenue exceeded", that for last year by £78,000, it wa» short of the estimate by £143,32,5. Theso shortages, he thought, were mainly due. to the effects of tJw war. Receipts from stamps acd death duties exceeded those of last \iear by about £105,000.. Post and telegraph revenue exceeded that for last year by something like £1)6,000. On ma- expenditure side, on nceount of permanent appropriations, the increase for the year was approximately f271,000; the increase in- interest and sinking fund* was about £185,000, and imrfndcd in thig was interest for as mueh of tne war loan, a* carriod interest ijp; to the end of tho. financial year. Qii age pensions increased by £42,207 during tlie year; widow*' .pensions bv £3537; and military pensions 'by £18,900.

In the Post and Telegraph Department the increase in expenditure was some .CWiOOO. The Justie* Department showed an increased expenditure of about .€23,700, largely due to increased pay for police and others. The Department ■it Internal Affairs showed an increase of £33,000 in expenditure, mostly dua to the general ejection. In the Education Department the increase in expenditure was £76,00#, due to tne alteration in the law ajid natural increased expenses.

Apart from the bain nee brought forward, receipts exceeded expenditure by £70,234. Fortunately, New Zealand wa3 in a strong position'as far as borrowed moneys was concerned. The Post Office Savings Bauk showed a vcryi satisfactory excess of deposits over withdrawals, and if this continued it would give material assistance in the way of provision for necessary public works'and advances. Provision had been made to carry on public works at something like what they had been carried on for at least the next six months, and should favorable opportunities occur on the London market to strengthen finances and enable the Government to look further ahead, they would not bo neglected. The State Advances Departments were in * strong position at present. The Government was advancing £IOOO to settlers, ', £2OOO to local authorities, and £4OO to J workers for building homes. He felt •justified in informing the board that finance would be available to bring the amount available for workers' homes up to the maximum allowed, £450. The .amount available for homes for settlers ■could now also be raised from £4OO to ,£450. JIo thought it would bo safe for ,thc board administering the Mortgages Extension Act to provide money for r mortgages coming due up to '£4 80. Since the beginning of the year £162,90& ( had been paid in advances to settlers, ; £OI,V>B3 in advances to workers, anil |£f>7,9!>o in advances to local bodies. If jopportunity arose the amount available ' for local bodies would be increased.