THE COUNTRY'S FINANCE.

Taranaki Daily News, 5 November 1915, Page 6

THE COUNTRY'S FINANCE.

SEVEN MONTHS' FIGURES. BIG DECREASE IX CUSTOMS. Wellington, November 3. Figures showing the revenue of the Dominion for the month of October, and for tile seven months of the financial year, were announced last night by the Minister of Finance (Right Hon. Sir Joseph Ward). The most striking feature of the figures is a marked decline in Customs revenue. The revenue is exceeding the Finance Minister's estimate given in the Budget. Following is a statement of the revenue for the month of October, 1915, compared with the month of October, 1914:

October October 131j. 1914. Inc. £ £ Customs 188,797 -229,220 40.429* Stamp & Death Duties .... 106.503 53,293 18,208 Postal and

Telegraph.. 21,717 21,378 339 Land-tax ... ISS 1,420 1,241* Income-tax .. 1,074 1.385 311* Beer Duty ... 5,637 9,446 .'1,809* Railways ... 290.920 202.459 '!4,tfil Registration & other fees .. 5,224 1.505 419 Marine 2,590 2,882 292* Miscellaneous.. 5,958 7.357 1,399* Territorial ... 8,297 14,505 6,SOS* Xat'l Endownv't Other Receipts.. —• 5 5*

£042,902 £043,409 £567* "Decrease. The figures for seven months ended October 31. MHo, compared with the seven months ended October 31, 1914: 1915. 1914. Inc. £ £ Customs .. 1.806,837 1,021,255 54,415* Stamps and Death Duties 711,431 681,105 30,326 Postal and Telegraph 639,490 055,740 40.750 Land-tax .. 36,984 8,760 28,218 Income-tax.. 16.630 13,310 3,320 Beer duty .. G7.22S 07,595 367" Railways .. 2,323,141 2.152 75S 49,383 Registr'n and other fees.. 55.338 51,305 2,937 Marine ... 25,015 28.708 3.154* Miscellaneous 174,214 214,11S 39.904' Nat'l Endowm't Revenue.. 92.655 78,770 13,885* Territorial. 111,38S 111,540 152* Other Rec'pts 9,451 4,746 4,705

<-6.039,402 6,022,836 76,566 "Decrease. Figures for the year ended October 31, 1915, compared with the year ended October 31, 1914: 1915. 1914. Inc. £ £ Customs .. 3,112,865 3,389,731 276,866* Stamp and Death dut's 1,447,533 1,213,82S 233,705 Postal and Telegraph 1,394.193 1,326,134 65,059 Land-tax .. 827,859 765,'835 59,0i>9 Income-tax 543,638 546,194 2,550* Beer dutv 127,283 127,894 001* Railways'.. 4,156,058 4,100,220 55,832 Registr'n and other fees 104.933 98.703 6,290 Marine ... 47,234 52,231 4,997' Miscellan'us 421,594 <■ 408,758 47.104* (Territorial 239,471 209,914 29,557 Nat'n'l Endow. Revenue 92,055 78,770 13,885 Other Rec'ts 13,125 10,06-2 3,063

£12.528 12,391,280 137,231 -Decrease. NEED FOR STRICT ECOXOMI'. FINANCE MINISTER'S COMMENT. Referring to the above figures last night, Sir Joseph Ward said it would be noticed that the largest decline in the revenue had occurred in Customs. The revenue from this source showed a falling-off of ,£276.860 for the twelve months, £54,418 for the seven months of the financial year, and £40,429 for the month of October. But he was glad to be able to say that the total amount of the decrease was not as great as his estimate in the Budget. The fluctuation in the Customs revenue was almost entirely due to the war, and to the decline in importations caused by reduced shipping facilities.

The revenue returns for the first seven months of the financial year, added the Minister, showed a net increase of £70,570, which was well in execs; of til Budget estimate, lie could not yet say what the expenditure for the same period had .been, as the figures were not available, but he could state that the matter was being watched carefully. The expenditure of the Dominion would have to be kept, down under present circumstances. The Oovernment recognised the need for strict economy, and nothing in reason would be left undone to bring about the proper adjustment between expenditure and revenue. The point had been receiving attention for some time, and he was hopeful that by the end of the financial year an entirely satisfactory position would be obtained,