A FINANCIAL MUDDLE.

Hawera & Normanby Star, Volume IV, Issue 462, 6 April 1883, Page 2

A FINANCIAL MUDDLE.

MELBOURNE, April 5. An interim finance account has been issued by Mr. Service, as Colonial Treasurer. He estimates the revenue for the current year at i-5,800,000, and the expenditure by votes at j63,900,000, inclusive of additional estimates to the amount of £434,000. The result will reduce Sir Bryan O'Loghlen's estimated balance to £37,000. The account shows that £2,000,000 will be required to meet the deficiency for railway expenditure, in excess of the estimate. Mr. Service, in presenting the account to the Assembly last night, stated that the revenue is coming in satisfactorily. The last loan will realise £3,920,000, whereof £1,800,000 will be required for the redemption of other loans ; but only £995,000 will be available for services this year. Nevertheless, the obligations amounted to £1,550,000, of which amount one million was required for railways. Mr. Service declared that the Treasury accounts are in a singular state of confusion, and that the colony would experience the greatest difficulty in paying its way. He added that he is at his wits' end to meet the engagements of the Treasury.