NATIONAL ACCOUNTS.

Waikato Times, Volume 119, Issue 19878, 6 May 1936, Page 9

NATIONAL ACCOUNTS.

(To the Editor.) Sir, —While admitting that the re- ! suits of tlie past financial year appear j to he very satisfactory an exact review > of the position will not be possible , until all the llgures are available. J There was a time when we all simply ; - accepted a surplus without question, : people analysed the Budgets and i showed that they' were misleading. j Mr Nash reports a surplus of ! £270,000, but is that after meeting ! the deficit on the railways? And have j the authorities made lull provision ; for the various superannuation funds? j Has the proper depreciation been set ■ aside for post and telegraphs? By ' failing to make the State grants to the ; superannuation funds and taking the whole of the profit from the Post and Telegraph Office past 'Budgets were made to look more pleasing, but they did not reflect the true position. it is to be hoped that the present Minister of Finance will not follow this example, but will set out the ; accounts fully. He has not the re- i serves used by ids predecessors to j bring into the accounts, but we should ' be prepared to face the whole of the j facts, and if there is a deficit deal; with it as they do at Home. The ; young people who have had the benefit ] of expert instruction in these matters ; know something about the budgetary j system and will want the full facts and figures.—l am, etc-, CANTAB. Cambridge, May 3.