8.—6.

CONCLUSION. I have placed before you matters of great moment, the importance of which I am sure will be recognised by you all. By giving effect to the proposals that it has been my duty to set before you our financial position will be enormously strengthened. Ido not think it is wise for this country to continue borrowing annually for public works to the extent that it has been doing, and if the proposals I have outlined are given effect to we should, with, I hope, an early increase in the revenue from the Customs, together with a general improvement in the business of the Dominion, be able to set aside at least £500,000 per annum after the altered taxation has been in full operation for a year. To that extent the future borrowings for the purpose of carrying on the necessary works for the development of the country can be reduced. The prospects before us are bright er than they have been for some time, and with care and economy exercised, both privately and publicly, the efforts of our people to improve „ their own position, thus at the same time improving the position of the Dominion as a whole, must insure success. I have the greatest confidence in our future; and the fact of our having passed through a somewhat difficult period will, I feel sure, stimulate our people to greater exertions, and will certainly enable them to show that a temporary set-back is not going to deter them from continuing the excellent traditions that up'to now have been the bright characteristic of the people of this Dominion.

XXXI