CAREFUL WATCH.

Press, Volume LXIV, Issue 19202, 7 January 1928, Page 12

CAREFUL WATCH.

DOMINION'S FINANCE

VALUE OF EXPORTS SOARS

[THE FRESS Special Service]

AUCKLAND, January o.

•'There never was a clay," said the Prime Minister at Ruawai, "when the revenue and expenditure of the country were more carefully watched and expended than at preseut."

Mr Coatcs said he was sure that posterity would not feel the weight of the present development. The total number of registered unemployed had never exceeded 4000. although the total was probably up to 7000. It was quite wrong of them to expect to "hang round the neck of the State" to obtain relief. The country's credit was at high-water mark. We were borrowing money more cheaply than other countries could, though that was no excuse for excessive borrowing. With increased production and increased population a certain amount of borrowing was necessary to complete the Government's policy of railways, roads, and electric power schemes.

The Prime Minister said he was quite sure that the hydro-electric power schemes would be one of the best investments the Government ever had. He looked forward to 1910 to the Government having from £0,000,000 to £5,000,000 in cash, which could be used either to reduce the cost of power or to go into the Consolidated Fund. Por the eight months to the cud of November the increased revenue over all services was £30,000, and the figures for the preceding corresponding period had been a record. Customs revenue showed a slight drop, but there were reasons for that. The production of wool was a record. There were over 26,000,000 sheep in the Dominion, the greatest number since 1918. Butter and cheese prices were good, and tho wheat crop would be a record one. Fruit and honey were also good. The value of the primary products exported would be £5,000,000 more than last year.