MR SEDDON'S SURPLUS.

Press, Volume LXII, Issue 12478, 14 April 1906, Page 2

MR SEDDON'S SURPLUS.

NOT A EECORD ONE.

THE GROWING EXPENDITURE,

(fin—XL to "tot txxsb,") WELLINGTON, April 12. The figure* regarding the year's financial operations, as telegraphed from Christchuroh by the Press Association, and published in the "New Zealand Times" here, were paJpably inaccurate. To-day, however, tbe ooa-poot figures, as stated by Mr Beddon, are available from the Christchurch papers.

Meeting Mr W. Fraser, M.H.R. foar Wakatipn, an accepted authority (by both sides in politics) on tbe finance of the coloay, I aslLod him if he would give his opinion on the question of the "record surplus" claimed by Mr Beddon, and he readily agreed to do so. Indeed, he put the position in a very clear and concise manner.

He pointed out that the credit balance for the year 1904-5 was £761,036. The amount of tihe former year's credit balance not transferred was £49,740, making an excess of revenue over expenditure of £711,296. Tho present estimated credit balance for 1905-6 waa £775,000. The amount of the former year's credit balance nntransferred was £261,000, making an excess of revenue over expenditure for this year of £514.000, showing that the exoees of revenue over expenditure for the -past, year was £197.296 less than the exoess for 1904-5. The revenue for the year ended 31st March, 1906. as started, was £7.653,300. The revenue for tho year ended 31st March, 1905, was £7,347,197, showing a very satisfactory increase for the year just ended of £306.103. The expenditure for the year 1905-6, as stated, was £7,139.300. The expenditure for the year 1904-5 waa £6.635,901, showing an increase of expenditure over the former year of no lew than £503.399. which even considering tlie increase in the revenue was anything but satisfactory, and showed the reason for the above stated decrease in t'be excess of revenue? over expenditure for the year just closed. The claim for a record su.rolus as distinguished from a credit bnlince was, he oontended, thus disposed of.