THE BUDGET.

Wairarapa Age, Volume XXV, Issue 10713, 7 August 1913, Page 4

THE BUDGET.

The Financial Statement delivered in the House of Representatives last night by the Hon. James Allen, Minister of Finance, was one of the most lengthy, and one of the most important documents of its kind ever presented to Parliament. It shows the finances of the Dominion to be in «a buoyant condition, for the revenues of the past year have exceeded the estimate by £785,618, while the expenditure has been £146,966 below the estimate. The Government '.vill, no doubt, be criticised for having curtailed the public works expenditure. It is shown, however, t hat the expenditure for the year exceeded that of the previous year by £741,670. The proposals outlined in tire Statement are very important, but it is not by any means encouraging to find that the Dominion will have to go upon the London market this year for a public works loan of £1,750,000, and that during the next

eighteen months short-dated loans amounting to £8,000,000 will have to be repaid. In view of thia fact, one can excuse the Treasurer for urging upon, the people of the country the policy of self-reliance. The Dominion is bound to borrow, if it as to develop as it should do; but it must be remembered, ae the Minister points out, that the London market has its limitations.