8.—6

VI

TREASURY BILLS. It was not necessary to issue Treasury bills in anticipation of revenue until the Ist November, 1922, and then only to the extent of £250,000. The bills were paid off by the 31st March, and none were outstanding at the end of the financial year. CUSTOMS AND EXCISE. Revenue, 1922-23. Estimated. Am , , ." m | 1 Compared with realized. astimate. £ £ £ Customs .. 5,160,000 6,157,394 997,394 in excess. Excise, beer .. 650,000 612,479 37,521 short. Totals ..£5,810,000 £6,769,873 £959,873 in excess. The new tariff came into operation on the 3rd November, 1921, and, in anticipation of increased duties on spirits and tobacco, merchants had cleared all stocks of these goods from the bonded warehouses. The result was that, during 1922-23, the increased duties on proof spirits amounting to 365. per gallon and to 4s. Bd. per pound on tobacco did not take full effect. More duty was, however, realized than was anticipated, especially during the concluding months of the financial year. A return of duties collected on spirits and tobacco for the eight months ending 31st July, 1922, as compared with the eight months ending 31st March, 1923, shows that the stocks cleared in anticipation of a rise in duty have in a large measure been disposed of. A steady revenue of about £900,000 per annum from spirits and over £1,200,000 per annum from tobacco, as compared with an average of £700,000 on spirits and £950,000 on tobacco before the change of tariff, is expected. The excise beer duty represents a total of 12,655,630 gallons of beer brewed at an average duty per gallon of ll'6ld. The quantity brewed for the previous financial year was 13,669,777 gallons. Imports and Exports. The values of the imports and exports for the past three financial years are as follow: — imports. Exports. £ £ 1920-21 .. .. .. 07,463,2(59 48,219,672 1921-22 .. .. .. 35,986,060 43,794,883 1922-23 .. .. .. 37,112,779 45,548,700 An analysis of the value of goods regarded according to origin shows that the proportion received from Great Britain is 52 - 2 per cent, of the total, as against 48*5 per cent, last year and 51*5 per cent, in 1914. The percentage on the same basis received from the United States was 15 "4, as compared with 11 "6 per cent. in 1914. A comparative return of the value and tonnage of goods according to the countries whence imported during 1922-23 as compared with the three previous years will be of interest.

Value and Tonnage of Imports.

Bril ish Ports. Per Dent. United s >f Anier Kates of Pet Cent. Other Vi rfca. of Count] areign Per Cent. rtes. of Totals. 919-20 .920-21 .921-22 ,922-23 Year. Value. Ton... I J £ 21,915,915 1,031,071 51,840,718 1,500,1 lis 27,897,065 1,234,778 29,000,876 1,309,424 si a.' •3 60 o c Value. f 77 8,080,058 75 11,584,781 -si 8,973,578 83 j 5,380,824 i . & ■3 O — Hi Tons. -gS «S Value. H > 0 H £ 235,219 25 18 2,100,140 388,975 17 19 4,031,770 100,153 17 13 2,115,417 223,985 14 14 2,119,079 iS £2 if Cons, s— * s M , o E" 1 Value. Tons. £ .■12,102.11!) 1,336,840 67,463,269 2,109,707 35,980,000 1,402,051 37,112,779 1,584,117 OS 77 77 80 07,550 7 5 130,53+ 6 0 37,720 6 3 50,708 6 3