THE NEW SOUTH WALES BUDGET.

Press, Volume LVI, Issue 10522, 7 December 1899, Page 5

THE NEW SOUTH WALES BUDGET.

SYDNEY, December 6.

The Budget Vas chiefly & criticism on the financial misdoings of the previous Government and their method of utilising trust funds. It declared that the so-called cash balances of Mr Reid were merely ledger balances, and had no metallic basis. In estimating the expenditure, it increased the amount estimated by the last statement of the Reid Government by £115,000, inclusive of £30,000 for the Transvaal Contingent. The estimated revenue shows a ledger surplus slightly over £7000 above the estimated expenditure. But for tie near approach of federation, the Treasurer said he would have dealt with the fiscal question; but it would not do to interfere with trade twice within the year.

BRISBANE, December 6.

The new Ministry has been formed: —Mr Philp is Premier, Treasurer and Minister of Mines; Mr Dicksbn, Chief Secretary and Vice-President of the Council; Mr Foxton, Home Secretary; Mr Chataway, Minister for Agriculture; Mr O'Connell, Minister for Landsi Mr Rutledge, Attorney-General; Mr Drake, Education and PostmasterGeneral, with a seat in ths Upper House; Mr Murray, Railways and Works.

SYDNEY, December 6.

Mr Lyne proposes to .eeek authority to issue four millions of treasury bills to meet contracts to the exteob of two millions entered into by the late Government, and to I meet the redemption of loan. , Raising the money by means of bißs instead of a loan is due to Mr Reid failing in raising a loan in June when the market was favourable, end, owing possibly to the Transvaal war, the present being an inopportune time to approach, the London market.