BIG SURPLUS
ANTICIPATED IN SOUTH AFRICA RECORD GOLD PRODUCTION, MORE THAN HALF WAR COSTS MET FROM REVENUE. (By Telegraph—Press Association—Copyright) (Received This Day, 12.10 p.m.) CAPE TOWN, February 24. Introducing the Budget in the House of Assembly the Finance Minister (Mr J H. Hofmeyr) estimated a surplus for the year ending on March 31 of nearly £6,250,000. Under one-half of the defence expenditure of £72,000,000 for the current year had been raised by borrowing. Defence expenditure in 1942-43 would be £80,000,000. The war had interfered with trade less than had been expected, Mr Hofmeyr stated. Imports in 1941 were valued at £100,000,000. The United States was now the Union’s principal supplier, sending it in 1941 goods valued at £38,000,000, compared with Britain’s £30,000,000. Exports, excluding gold and wool, were valued at £31,00,000, an increase of three millions compared with 1940. The gold mines in the calendar year 1941, achieved a record production, valued at £120,000,000-
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Wairarapa Times-Age, 26 February 1942, Page 4
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155BIG SURPLUS Wairarapa Times-Age, 26 February 1942, Page 4
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