NEW SOUTH WALES PARLIAMENT.
(PBR PRESS ASSOCIATION.) Sydney, April 10. In the Legislative Assembly this evening, the Hon W. M'Millan, Colonial Treasurer, delivered his Financial Statement. He said Government did not intend to interfere with the existing tariff at present, bat that next session the Colonial Treasurer would submit proposals for simplifying the tariff with a view to making it as nearly a fieetrade tariff as is possessed by any country m the world, and, at the same time, he would present a scheme of direct taxation. No dutieß would be removed till the House had assented to the new taxation. The deficit stood at £1,608,235. There was also a deficit of £87,000 from last year. The estimated revenue and expenditure for the year 1889, ac made by the Hon Mr Burns m his last statement, would still hold good. Mr McMillan said further that the Government expected a credit balance at the end of the financial year of £25,192. The Government proposed to deal with the deficit by issuing Treasury bills m the colony on the security of suburban lands, and hoped to extinguish it m five years.
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