STATE POLITICS.

Press, Volume LXVI, Issue 13910, 8 December 1910, Page 7

STATE POLITICS.

NEW SOUTH WALES BUDGET.

SURPLUS. £989,766,

TJiited Pr-f« Ai«»ciatioa—By Elwrrtt Teletfmph—Copyright.

(Received December 7th, 8.40 a.m.) SYDNEY, December 7.

Mr McGowen's Budget shows that tho year opened with a credit balance of £037.077, and closed, after taking all sources into consideration, with a surplus of £989,766. The railway earnings gave a net return of £4 lis 7d per centum on the capital expended, and tho tramways £-1 10s od. During the year tho railways and tramways carried over 254,000,000 passengers without a single fatality. Tho Harbour Trust propose to erect largely increased berthing accommodation for vessels.

It is proposed, during the current year, to finance tho Closer Settlement Fund by £350,000 from loans, making £963,000 available. Practically the whole of this will be expended on the acquisition of land and the contingent expenses of settling the jyeople. The total advances made to settlers so far havo been £1,362,853, whereof £796,752 has still to be repaid.

The public debt at the end of last year was £90,307,416, and it has been reduced during the year to the extent of £282,613. Current accounts in the Government Savings Bank numbered 363.172, representing £14,559,529.

Mr McGowen estimated the return from tho Commonwealth would he £1,370,000 less than last year, and it would be necossary to practise most rigid economy to prevent the revenue falling short of the expenditure.