THE STATE OF THE REVENUE.

Press, Volume XL, Issue 5711, 8 January 1884, Page 2

THE STATE OF THE REVENUE.

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[FBOK OUB COBB—- OHDBKT.I WELLINGTON, January 7. The total Customs revenue collected in New Zealand during the year 1883, ending December 31st, amounted to £1,414,188, as compared with £1,515,915 for 1882, £1,421,609 for 1881, and £1,258,362 for 1880. Consequently, 1883 showsa__ling off of £111,000 as against tiie previous! year, but differs only by £7000 from 1881, which was a good year for trade. The theory of financial authorities is, therefore, that the exceptionally large ret—ms of 1882 were due to a temporary undue inflation of over-trading and over-exporting, and did not represent a legitimate -■*<^—ifti increase and steady development ef trade. Accordingly, they hold that the decrease li not to be regretted, save from a revenue point of view. This, however, is s—Sdently .serious. There is now not the slightest I hope of the Customs deficit being mads up

or ev<_ appreciably reduced by the 31st of March. Indeed, each of the three remaining months wffl have to yield 20 per cent, more than December to save the deficiency from increasing. They may very likely do this much, but not more, and hardly any hopes ar<» now entertained that the Customs will realise more than £1,420,000, which is £100,000 less than the estimate. There seems reason to anticipate that there will be an actual deficit to this extent, or thereabouts, on general revenue, aa the d«fiei*_ny on the railways at present seems pretty safe to swallow up the surplus on the other items of revenue, such as stamps and property tax. The bitter has, bo far, brought in £264,000, which is £14,000 above the estimate.

The latest London advices point to a fair probability that the new million loan will go off all right next week, but that there wdl not be such a rush for it as there was last time. Experience, however, shows that London financial authorities are very apt to be out in their calculations on these occasions.