THE BUDGET

Taranaki Daily News, 4 November 1921, Page 6

THE BUDGET

LARGE CASH SURPLUS READJUSTING TAXATION PROPOSALS FOR ECONOMY l The Financial Statement was introduced in the House last night by the Minister of Finance (Mr. W. _.F. Massey). It shows that the cash surplus carried forward is £4,920,294, while the estimated cash surplus is £3,653,927. Customs revenue is estimated to produce £4,900,000, while receipts and income-tax are put down at £7,700,000. Features of the Government proposals are a readjustment of taxation, reduction of expenditure, economies in public service, a ten per eent. rebate in land tax, and many other important items.

By Telegraph.—Press Association.

Wellington, Last Night. On the House resuming at 7.30 tonight it went into committee of ways and means, when Mr. W. F. Massey, as Minister of Finance, delivered his annual Budget. He was applauded as he rose to read the Statement, which said, inter alia: —

SURPLUS FOR THE YEAR. The surplus for the year amounted to £6,132,232. PUBLIC WORKS FUND. Expenditure: £3,141,197, or £1,120,044 more than in 1919-20. REDEMPTIONS, RENEWALS AND CONVERSIONS. Loans amounting to £10,136,657 fell due, and were renewed. The amount actually paid off in cash was £1,474,700. During the year 180 investors took advantage of the conversion scheme authorisedi The total sum of £499,650 was converted into inscribed stock. LOANS FALLING DUE.

The number < f gallons of beer brewed during the financial year 1920-21 was 14,926,626, and the average duty per gallon 5.796 d, an increase of '376,550 gallons. The values of imports and exports during the past four financial years are:

plus 10 per cent. Owing to high freights, the actual landed cost considerably exceeds these ♦values. The export values are the f.o.b. values. ESTIMATED CUSTOMS’ REVENUE FOR 1921-22. The revenue for the first two quarters of the current year is £1,577,287 less than that of the first six months of last year, and this may be taken as an indication of the diminished returns expected for the balance of the year. Customs duties are estimated to produce £4,900,000, and excise beer duty £500,000: bonded-warehouse duty, timber-ex-port duty, and other receipts, £7000; total, £5,407,000. MENTAL HOSPITALS. Total expenditure, £377,643; credits, £115,905; net expenditure, £*261,738. The average number f of patients was one hundred more than for the previous year. PRISONS DEPARTMENT. Total cash earnings, £46,863; total expenditure, £!88.3O9; total value of prison labor for twelve months, £85,o+B. The increased earning-power of the Department has enabled it to meet without difficulty the addiional expenditure caused by the payment of wages to prisoners. The new system, which constitutes a complete departure from the methods followed by the majority of prisons administrations, came into operation on January 1 last. The monetary payments have been of great assistance to a number of those who had been deprived of their breadwinners. The total amount expended for the three months ended March 31 >was £451. POST & TELEGRAPH DEPARTMENT. Amount of revenue collected, £2,640,158. The benefit of the increased rates affected the revenue for only eight months of. the year. The principal items were: —Postage, £1,253,513; telegrams, £691,484; telephone exchange receipts, £533,535. The Post Office Savings-bank business for the year ended March 31 shows marked expansion, the deposits totalling £35,031,244. The withdrawals were £32,803,888, leaving an excess of deposits over withdrawals of £2,227,356. The balance standing to the credit of depositors on March 31, 1921, was £43,352.031, compared with £ 1‘.>,048.029 at tie end of 1914- The interest credited to depositors for the year 1920 and the .first quarter of 1921 was £l,BlB/534. The aggregate number of money-or-ders and postal-notes issued was 2,958,326, and the amount paid out, £5,468,260. The sale of war-loan certificates by the Post Office has reached the sum of £4,613,203. These certificates have been withdrawn from sale, and Post Office investment certificates substituted: the sales of the latter up to March 31 amounted to £160,636. The installation of automatic printing telegraphs has been delaA ed owing | to the non-arrival of the greater part of j the apparatus, which is long overdue. A portion of the necessary material has now been received, and stalls are being trained in anticipation of the early introduction of this up-to-date system. The chief telegraph engineer lias returned from a visit abroad, during which he made a careful investigation into the telegraph and telephone .sys- . terns, methods and rates in operation m ' other parts of the world. • STAMP DUTIES DEPARTMENT. j Net revenue for 1910-11 was £819,839, and for the year 1920-21 £3,745,902. LAND SETTLEMENT. During the year 57,927 acres were acquired under the provisions of the Discharged Soldiers '-Settlement Act, 1915, at a cost of £843,16'2, and 22,0'23 acres . for individual soldiers at a cost of £434,809.

There has been a considerable fallingoff in the demand by discharged soldiers for rural and pastoral lands, and a number of blocks regarded as being very suitable for soldier-settlement have met with little or no demand. This has been more noticeable in the South Island than in the North, where there is still a fair demand for firstclass dairying lands. The total area proclaimed up to March 31, 1921, was 1,321,091 acres, of which 437,790 were proclaimed during the past year; and during the same period seventy estates, comprising 171,898 acres subdivided into 6430 holdings, were opened tor selection, the bulkj of the sections being disposed of. Owing to the adverse conditions which have been ruling lately, a number of tenants have been considerably embarrassed financially, and in -order to tide them over the present troublesome times the Government found it necessary to grant postponement of rent in cases where sufficient reason could be shown for so doing. The result of this policy is that the tenants have been enabled to carry on, and it is hoped that they will be able to meet their liabilities with the return pf better prices for stock and produce. At the present time six acquired estates, totalling 7124 acres, are being prepared for selection by discharged soldiers, and will be offered within the next few months.

DISCHARGED S'OLDTERS’ SETTLEMENT ACCOUNT. Total out on mortgage, ' £15,336,477. The gross receipts for the year amounted to £1,229,492. Of this sum £726,172 represents repayments of loans, and receipts for interest and sundries £503,320. SWAMP DRAINAGE RECLAMATION. Considerable progress has been made with the various operations necessary to adequately drain and road the various schemes in hand, and as soon as areas were prepared for settlement they were opened for selection. DEPARTMENT OF AGRICULTURE. The assessed values of the principal primary products exported during the year were as follows: Values. • £ Wool 10,297,340 Frozen meat—> Mutton 6,444,213 Lamb 3,994,398 Beef 1,834,113 Mutton. & lamb joints ... 55,450 Canned meats 523,759 Butter 6,114,464 Cheese 6,514,519 Casein 134,085 Dried milk 876,833 Tallow 1,853,753 Pelts 2,661,517 Hides 845,87'3 Other animal by-products 395,819 Flax 553,246 Fruit 15,082 Honey 30,962 Total £43,145,426 The value of the total exports from all sources was £48,219,672. In regard to cereal crops, a larger area has been sown in wheat than in the previous year, the comparison being: 1919-20, 142,000 acres; 1920-21, 213,900 acres (estimated) ; or an approximate increase of 71,900 acres. There has been a decrease in the area under oats, the acreage being: 1919-20, 576,000 acres; and 1920-21, 468,700 acres (estimated). The yields for both crops so far have been good, the latest figures available showing 32.96 bushels per acre for wheat and 36.7'1 for oats.

As regards the live stock in the Do- ■ minion, the 1919-20 sheep returns show a decrease of 1,914,048, thus bringing our aggregate number of sheep back to the level existing in the year 1912; and the interim returns for 1920-21 show al still further decrease. One point to be borne in in connection with this is the increased area devoted to dairying and to cereals, which has considerably reduced the amount of grazing country available for sheep. A further increase in the number of cattle has taken place, i During the year the services of the De- • partment’s expert and instructional officers have been freely availed of by the farming community. Including the gross returns from the State farms, but ex- ’ eluding the wool produced 'which is still ' held on the premises, the revenue to > the Department amounted in the ag- ’ gregate to £6.7,779, to which must be added £26,355, which has to be paid ; into special accounts, thus making a i total of £9+,125. i To enable the Department to meet ; the shortage of winter supplies of but- ! ter by purchases for local consumption, , a vote of £300,000 wak taken. The ■ total actual expenditure under this item was £331,572, while the total proceeds | of sales by the Department amounted to i £332,763/ STATE ADVANCES OFFICE.The departmentiis still lending money . ’ to settlers, workers and local bodies i for their various purposes at 4+ per 11 cent., a rate of interest which, under j existing conditions, is extraordinarily ' i lOW. j During the past year 2077 settlers ' j were assisted at a cost of £1,105.430. j Loans to workers were granted to 1560 I applicants, amounting to £718,550. j The total sum lent to local bodies • during the year was £689,225 at 4-J per For housing purposes this office has within a period of two years loaned the large sum of £2,792,780. From the date the department first commenced business (March, 1895) to March 31. 1921, the amount paid over is as follows: — £ To settlers 19,826,040 To workers 4,4+6,685 To local authorities 13,856,570 £28,129,295 After deducting the repayments from this total, the amount of mortgages | outstanding on March 31 last was ■ £13,876,165. NAVAL DEFENCE. The-‘ estimates are mainly for ma:ntenanee and upkeep of the Chatham, and Philomel, the payment, victualling, etc., jof the personnel, and for administrative ; charges. The sum required is £335,782. ; The expenditure was £531,042, or j £108,211 less than -the amount i appropriated. This "saving has been (effected chiefly by the temporary i abolition of the annual, training ■in camp of territorial units and by the closest attention to economy in all branches of the department. WAR EXPENDITURE. The activities arising from the war are rapidly diminishing, and are now ' limited almost entirely to repatriation, i the issues of medals and other awards to individual members of the New Zeai land Expeditionary Force, payments in ; ' connection with war expenses, and the ; administration of hospitals and aftercare of disabled soldiers requiring mediI cab treatment. The expenditure was j £3,170,118.

REPATRIATION. Up to March .31, 1921, assistance totalling £1,859,310 had been rendered to 50,181 men. Of this amount £1,524,352 is by way of loan, and it is gratifying to be able to report that repayments already total £508,592, or one-third of the amount advanced. The department is now receiving repayments at an average rate of £35,000 per montn. MINING. The value of minerals entered for exportation and of the coal produced in the Dominion during 1920 amounted to ’ £3,431,391, as against £4,424,689 during the previous year. The total output of coal from the I mines of the Dominion for the year 1920 was 1,843,705 tons, a decrease of 4,143 tons. For the year 1919 the decrease was 186,£02 tons as compared with 1918. LABOR DEPARTMENT. It is hoped to complete this year the consolidation and amendment of the Factories Act and the Workers’ Compensation for Accidents Act.

HOUSING. The erection of workers’ dwellings was * retarded very much during the earlier 'portion of the year owing to builders being unwilling to tender at a satisfactory and fixed price, and also to the | difficulty in obtaining materials; coni sequently it was impossible in many ' cases to arrange for contracts for dwellings at a price within the statutory limit of £lOOO. The total number of dwellings built or otherwise provided, including those still in course of erection, is 508, and their estimated total cost is £466,000 (including land and administration charges). These figures include ninetysix houses purchased by the department for applicants. Up to June 22 applications were entertained from local authorities for a total sum of £333,380, whilst £106,000 had been actually paid over. PENSIONS. The amounts issued during the year under this head are as follow: Total Pensions. £ War pensions 1,886.952 Old-age pensions 731,236 Widows’ pensions 187,402 Epidemic pensions 72,437 Military (Maori War) pensions 40,200 Miners' pensions 26,971 Police widows’ pensions 436 £2,945,634 The total number of - pensions in force at close of year, the annual values thereof, and the amount of the average pension, are as follow: Annual Average

The annual values of the pensions in force at March 31, 1921, are as set out hereunder:—

The actual payments made to war pensioners since the inception of the war pensions legislation in August, 1915, total £5,608,870. NATIONAL PROVIDENT FUND AND FRIENDLY SOCIETIES. Number of new entrants, 6060; total contributors at December 31, 19*20, 19,• 724; contribution income, - £110,594; gross income from all sources, £158,474, compared with £73,872 and £105,498 respectively for the previous year. The total of the fund increased from £338,729 to £47’3.360. The amount paid out in allowances to annuitants and for widows and children during the year amounted to £5890. The sum of £31,972 was expended through the fund for maternity allowances —£6654 to contributors and £25,318 to members of approved f riendly' societies.

TOURIST AND HEALTH RESORTS. Revenue, £51,038, an increase of £BB2O. Expenditure £93,619. IMMIGRATION. The Government immigration policy of “open nomination,” together with the extra facilities offered under the “applied passages” scheme for pecial classes of skilled labor and the Imperial Government, scheme of “overseas settlement within the 'Empire,” have had the effect of showing a healthy expansion of the immigration movement during the past twelve months. Large numbers have been absorbed without disturbing the industrial conditions of the country, which is evidence of the capacity of the Dominion for absorbing immigrants of the right type. INSURANCE OF PUBLIC BUILDINGS. The balance at credit of the snecial sinking fund established in 1913 for th? purpose of covering losses on puL'iij buildings destroyed by fire was £59.727. STATE FIRE INSURANCE. After providing £9510 for reserve for unearned premiums, £3OOO for investment fluctuation reserve, and £15,567 for income-tax, the surplus for the year amounted to £47,210 —over £lO,OOO more than last year. The accumulated funds at the end of the year totalled' £316,057, an increase of over £59,000 for the period. PUBLIQ SERVICE SUPERANNU- » ATION. Number of , contributors 15,387, revenue for the year £406,715, including Government subsidies, £106,000. Amount expended £192,007, number of superannuation allowances in force 1826, representing an annual aggregate payment--of £142,719; the amount of fund invested £1,388,968. TEACHERS’ SUPERANNUATION FUND. Total £599,303, an increase of £72,601 for the year; revenue £160.824; ex- : penditure £88,220. RAILWAYS- SUPERANNUATION FUND. Total £464,491, as compared with £408,232, 1920. Contribution from Consolidated Fund £75,000. GOVERNMENT INSURANCE DEPARTMENT. New business £1,659,660, total number of policies 57,321, total insurance, with bonus additions, £16,259,310. The ; funds at the end of, the year amounted to £5,542,552. PUBLIC TRUST OFFICE. • Value of the funds and assets under administration £22,364,319; new estates during rhe year 2803; amount advanced to local bodies and private mortgagors £2.869,075; total funds invested £13,636,815. WOOL PROFITS. An amount of £1,619,069 was made available by His Majesty’s Imperial Government, representing this Dominion’s share of profits to March 31, 1919, on sales of wool by the Imperial Government for civilian use. This has been distributed through woolbrokers. BUTTER EQUALISATION FUND. The arrangement made by the New iealaiffl Government. under which

manufacturers of butter for household use within New Zealand were subsidised so as to ensure supplies of creamery butter to Dominion consumers at a reasonable price and at the same time give to the manufacturers of such butter a price on a parity with that obtained for butter requisitioned by the Imperia] Government, has been concluded. TOTAL PAYMENTS. The total payments made by the department from March 3, 1915, to March 31, 1921, amounted to £158,576,644, as follow: £ Wool 60,407,888 Sheepskins 3,279,409 Frozen uneat 53,039,535 Cheese 21,160,884 Butter 16,571,130 Hides 741,208 Set eelite 178,481 Other business 3,198,019 £ 158,576,644 , PUBLIC DEBT. The gross public debt at March 31, 1921, was £206,324,319, and, as indicated by the following table, shows an increase of £5,153/564 during the year. 1919-20. 1920-21. £ £ Ordinary public debt 97,341,780 103,373,446 Discharged soldiers 11,120,000 8*792,354' War debt 80,089,025 81,538,569 | State Advances debt 12,619,950 12,619;950 201,170,755 206,324,319 Tlie sum of £12,330,000 was transferred direct to the Discharged Soldiers Settlement**.Account; this included sec•urities to the value of £11,996,250 ori-j ginally advanced out of the accumulated surplus, which have been cancelled and discharged from the pubic debt, thus converting what appeared as a liability into an asset and relieving the ordinary revenue of the annual payment of sinking fund contributions to that amount. During the year £17,-149,789 was raised for various purposes. The annual charge for interest and sinking fund" on the above amounts to £10,108,414, and is payable as follows: — In New Zealand 4,685,712 In London 4,294,239 In Australia 69,359 9,049,310 'Sinking fund 1,059,104 Total £10,108,414 Of the interest, £1,792,432 will be recouped to the Consolidated Fund. Against the public debt tangible assets to the amount of £47,535,124 are held, while the total amount expended on railways', public buildings, telegraphs settlement ftlands amounts to £84,314,003, for which the Dominion holds good value. The estimated value of Crown lands ; s £25,000,000, whilst r sum of £19,033,007 has been expended on directly and indirectly productive services, which may be set off against the debt. ,

WAR LOANS. At the end of the financial year the loans arranged, by the Treasury on account of war expenditure amounted to £8'1,538,570, of whicli £55,198,325 was raised in New Zealand, and £25,840,000 was advanced by the .Mother Country mainly for the maintenance of our troops in the field.

A sum equal 1 per cent, of the total capital moneys borrowed for war purposes, and outstanding on March 31 in, the preceding- year, is paid* to the Public Trustee to hold and invest the same with , all accumulations of interest thereon; 4% per cent, per annum is received on the investments of the sinking funds, under which it is calculated .that each war loan will be extinguished within forty years. The annual charge for interest sinking fund on these loans •amounts to £4,615,200, made up as follows: Annual interest charges—- £ On £2BlO at 3 per' cent «S 5 On £1,168,421 at 3% per cent. 40,895’ On £3.044,750 at 4 per cent. ... 121,7.90 On £53,242,118 at per cent. 2,395,895 On £14,180,471 at 5 per cent. .. 709,024 On £9,900,000 at 5% per cent. 532,1.25 On £81,538,570 . ..< £3,799,81-1 Sinking fund—• 1 per cent, on £81,538,570 815,386 £4,615,200 GERMAN REPARATION. This Dominion’s share of the reparation money will amount to about £26,000,000. This will be payable in instalments, but I am advised that the priority of costs of occupation and of Belgian reparation will postpone any receipts by the British Empire until the ! middle of the year 1922 at the earliest. , i Although it is satisfactory to know | that there is a good prospect of our ob- | taining from Germany a proportion of the large amount which we expended on i the war, I need not emphasise the imi portage of not relying upon this money j too much, as it may be a long time be- | fore it will come in. RESERVE FUND IN LONDON. The reserve fund in London now stands at £2,600,000, having been increased during the year by the transfer of £1,200,000 from the accumulated surpluses. DEPARTMENTAL ACCOUNTS. The public accounts are compiled on a cash basis, and relate generally to actual payments and receipts within the year, and do not show the profit or loss to the State on each service. Great diversity of practice exists in depart- ■ ments, and a great measure of uniformity is necessary. This involves a complete change, in the system of compiling the annual departmental statements of accoymts. I have been giving this matter considerable attention since I assumed control of the Department of Finance, with the result that several departments have this year submitted their accounts in commercial form, whilst others are co-operating .with the I Treasury in making such arrangements as will enable this necessary reform to be instituted during the current year. Balance-sheets in commercial forih relating to departments will be laid on the table in due course.

STATE SERVICES. Certain State services have hitherto been conducted at an annual loss, which lias to be met by the general taxpayers instead of by the users. These services should be self-supporting and should be conducted upon a proper business basis. With this object expenditure has been reduced in several cases, whilst in other a rearrangement of certain fees and charges is «being made which will largely reduce the charges al. present borne by the Consolidated Find,

BANKING. The present holding in .the Bank of New Zealand is now 500,000 “A” preference shares of £1 each, fully paid up. and 625,000 “B” preference shares of £1 i each, fully paid up, or £1,125,000 in all. The dividend received for the financial year 1919-20 was 10 per cent, off the “A” preference shares, amounting to £50,000, and 17J per cent, on £250,000 U B” preference jshares, amounting to £43,750, which equalled 11 2/3 per cent on the capital invested. Fpr the financial year 1920-21 the dividend received on the “A” preference shares was tlie same as that of the previous year, but the dividend on the “B” preference shares amounted to £62,500, or 16 per cent, on the capital invested. FIVE-MILLION WAN. During my recent visit to England 4 was successful in arranging the flotation of a loan of £5,000,000 at 6 pel cent, for public works, electric supply development, -and ‘railway improvements. The full amount has been subscribed! and has been allocated in the followi ing proportions; Public works, £2,500,' 000; electric supply, £ 1,750,000 j raili ways improvement, £1,000,000. As evidence of the strong New Zealand holds in the London market, the loan wa'S quoted at a small premium shortly after issue, and som4 of the stock which was recently sold to cover the charges and expenses o| the loan realized £99£. If further evi-4 dence were needed of the high standing of our credit in London I might mention the great success of the loan rei cently floated by , the Thames Valley, Power Board under the guarantee of the ( Government. This loan was rushed by] applicants, and covered several timetf over. ESTIMATED REVENUE. For the year 1921-22, I estimate revenue at — ’ , - £' Customs 4,900,000 Railways 7,350,000 Stamp & death duties ...» 3,010,000 4 Post & telegrapb 2,790,000 Land & income tax 7,700,000 Beer duty 500,000 Registration & other fees 180,000 Amusement tax 80,000 Marine 60,000 Miscellaneous 900,000 Territorial revenue 190,000 Endowment revenue 110,000 Other receipts 230,000 £28,000,000 ESTIMATED RESULT FOR THE YEAR 1921-22. As the full effect of the economies which are being actively, introduced not he felt during the current financial year, it is anticipated that the expen-i diture will amount to £29,266,367j whilst the revenue is estimated at £28,000,000. To the latter,- however, has to be added, the actual cash balance carried forward at the beginning of .the year—viz., £-*-920,294 —leaving an es- - timated cash surplus of £3,653,927, rei ducible by the amount which may be appropriated on the supplementary estimates. Last year I referred to the necessity for retaining in hand the previous year’s surplus of £6,132,232 in anticipation of the period of stringency which has since come upon us, .By the aid of the past year’s surplus I am pleased to say that sufficient cash has been in the hand of the Treasury to meet ordinary charges, and although for the current year the chances at present of fully meeting our expenditure out of the year’s Revenue appear uncertain, still I am sanguine enough to believe that at March 31 we shall be able • to show a balance of cash in hand statyd above,

READJUSTMENT OF TAXATION. Legislation will be laid before Pari liament this session with the object ofi* giving effect to the intentions of thft Government in the way of economy and retrenchment, and which will provide for a readjustment of the revenue so that the burden of taxation may more equally upon the different sections, of the community, and so that relief may be given where it isymost urgently required. In connection with the proposed revision of the Customs tariff, the duties are being increased on cer-< tain articles, most of which come under the heading of luxuries. This is not being done for protective purposes but to assist the revenue, which has been somewhat seriously affected by the financial stringency from which New Zealand, along with other countries, but certainly less than other countries, suffering at present. As a matter of fact the whole system of taxation m operation in New Zealand requires to be revised as well as the Customs tariff, and I hope with the assistance of members to make some very important changes and improvements in this respect before the session comes to an end. Economy must be practised at every opportunity, and production must be encouraged. By these means only can depression be met and prosperity restored. In addition to the measures which ai*b being taken at this side of the world, to- restore to pre-war conditions an increase in the purchasing capacity of our customers ,in England would probably do a great deal to assist us to reach the goal which we havq in view. PAYMENT OF LAND TAX. - With the object of assisting and encouraging the prompt payment of tho Land Tax for the current year a Bill has already been laid before the Houso providing for a rebate of 10 peV cent, in the event of the tax being paid before or within© twenty-one days afteij due date.

REVENUE. fear ended Year ended 31/3/21 £ 31/3/20 £ . Customs 8,408,726 4,830,324 Stamp and death duties 3,745,902 3,344,933 Postal and telegraph .. . 2,640,158 2,096,757 Land-tax 1,688,978 1,557,903 Income-tax 8,248,945 6,369,765 360,525 355,403 6,918,492 5,766,016 Registration and other 220,085 175,756 56,540 42.646 Miscellaneous 1,584,995 1,204,866 219,193 x 218,757 National endowment 100,448 112,840 Other receipts » 67,975 5,374 Totals 34,260,962 26,081,340 Increase: £8,179,622. EXPENDITURE. Year ended Year ended 31/3/21 31/3/20 £ £ Permanent appropriations — Civil List 31,346 26,549 Interest and Sinking ITiind 7,831.593 7,249,426 Under special Acts .. 1,291,911 1,101,289 Subsidies paid to local 164.290 161,085 Territorial revenue .. Cr. 13,100 24,275 112,934 134,991 Old-age Tensions . — 699,789 698,570 Widows' pensions ... 187,101 136,730 Military pensions 40,198 45,000 War Pensions 1,885,663 1,811,146 12,234,725 11,389,061 Annual Appropriations,— 65,462 44,500 Dept, of Finance .... 639.781 189,061 Post and Telegraph Dept. 2,588,360 1,941,494 Working Railway Dept. 6,211,001 4,305,965 Public Buildings. Domains and Maintenance of Roads .... 225,165 161,142 Cook Islands 13,789 16,498 Native Dept 35,913 28,457 Justice Dept 725,972 571,492 Mines Dept 39,634 36,637 Dept, of Internal Af632,660# 336,356 Mental Hospitals, Publie Health and Hospitals and Charitable Aid Depts 464,071 556,899 Tourists Dept 93,620 68,858 Defence Dept 531.012 502,465 Customs, Marine, and Inspection of Machinery Depts 292,041 227,474 Department of Labor . 44,540 40,016 Dept, of Lands and Survey 292 542 238,365 Valuation and Electoral Depts 81,979 196,242 Dept, of Agriculture . 290,800 818,567 Education Dept 2,460,116 2,031,825 Services not provided for 105,514 77,150 15,834,005 12,392,463 Transfer to Loans ReSinking Funds seJfree to redeem Debentures 400 Advances to Southland Eiectric-power Board 60,000 Totals 28,12S,730 23,781,924 Total increase: £4,346,806.

1922 London Australia N.Z. £ £ £ 313,000 953,300 5,398,440 55,300 639,450 8,167,406 1,747,200 7,768,615 37,000 11,451,876 200 14,356,712 415,370 2,568,910 1923 1924 1925 1926 1928 Totals . 2J52J00 1,592,750 50,127,329 CUSTOMS REVENUE. 1920-21 1919-20 £ £ Customs 8,408,726 4,830,324 • Excise beer .... 360,525 355,403 Totals .... 8,769,251 5,185,727

Imports. £ Exports. £ 1917-18 ... 20,983,612 31,298,270 1918-19 ... 26,437,284 32,263,792 1919-20 t .. 32,162,029 50,776,650 1920-21 .. 67,463,269 48,219,672 The import values represent the fair marJcet valve in the country of exportation.

Number. Value. Pension £ £ War pensions ... 31,7-64 1,748,865 55 Old-age pensions 19,837 737,378 37 Widows’ pensions 3,421 198,767 58 Maori War pens's 811 39,739 49 Miners’ pensions 474 29,686 63 Epidemic pensions 849 71,486 84 Police widows’ pensions 5 390 78 57,161 £2,826,311

Annual Number. Value. Average. £ £ Soldiers permanent.. 3,215 183,032 57 Soldiers temporary . . 19,133 1,044,821 55 Dependents temporary 1,371 91,149 66 Widows of soldiers 2,034 226,932 112 Other dependents of deceased soldiers.. 6,011 202,931 34 31,764 1,748,865 55