NATIONAL FINANCES.

Dominion, Volume 4, Issue 960, 29 October 1910, Page 5

NATIONAL FINANCES.

BIG INCREASE IN THE REVENUE, NO DETAILS OF EXPENDITURE. RETURNS FOR 7 MONTHS. The Primo Minister mado a statement yesterday upon the finances of the country. Ho stated that tho revenue from April 1, 1910, till October 28, 1910, compared with tho corresponding period of last year, was as follows: — 1910. 1909. Increaso, .C £ £ Customs 1,684,2751,400,199 224,078 Stamps ' (Stamp Department) ... 410,714 059,142 133,019 Stamps (Post and ' Telegraph) ; . . 382,017 — .-i.Postal and Telegraph cash receipts 88,053 76,923 11,135 Land and Income: Tax 30,233 28,985 1,248' Beer duty G0,102 58,905 1,137 Railways .......... 1,781,679 1,015,784 165,895 Marine 24,654" 23,48? 1,1(38 Miscellaneous .... 1-44,969 136,644 8,323Territorial 130,526 101,257 29,269 Registration 'and. , other fees 39,327 42,157 , *2,830 ' •■■■ Totals 4,776,5844,203,542 . 573,042 ♦Decrease. RAILWAY REVENUE. ■ _ £ .. From April 1 till September 17, v . 1909, the revenue was 1,411,150 Revemio for same period, 1910... 1,514,196 Increase ...... ...... 103,040 Expenditure for tho same period 0f'1909 1,009,251 ■ In 1910 .. ........ 1,037,482 Increase 28,231' 'POSf AND TELEGRAPH DEPARTMENT. o The revenue for tho half-year ending September 30, 1910, compared with that for the same period of 1909 was;— 1 1910. 1909. ?;. £ . Total . Postal — 284,608 ' 200,263 Total Telegraph 203,097 182,932 : Total Postal and Tele- -"'"y . graph. ................... 487,705 \r 449,186 SEPTEMBER QUARTER. .The results for the last- quarter, the ..Prime Minister. - said, -show: that the balance of the Consolidated Fund on September 30 was £265,360, aa against £69,380, at, the same time last year. Tho'result would, have-been still i better, he added, had not ,£133,000 of rovonuo been transferred to the Public Works Fund, whereas, in the corr©- ' spoiiding quart-er of last year no revenue was transferred to the : Public Works ' Funds. . - -

Treasury Bills outstanding- aro £533,000. v ; Tho Departmental expenditure for the . qunrtoi' was £38.182 less than the corresponding quarter of 3ast s ycar. Ihcro had been an increase of £19,300 for interest; and . £32,800 for Subsidies to local authorities; wliiek showed the; _ expenditure as .'a whole to be greater* than, that for the corresponding quarter last year, of-about £20,000. • ' 'These . figures,'' added Sir ; Joseph; j" "go to show that in eveTy branch, except one, there: has been a 'i'ery sub-- ■ stantial increase all iroiirid. - is .those* ■ Departments are the index to trade, they show, therefore, a revival which ist • very, gratifying." ARE BIG SURPLUSES DESIRABLE?V MR. TAYLOR HAS A TILT AT THE J PREMIER. There wore several adverse references t in tho House, of Representatives last night to the 'new taxing proposals of tho Government. .Mr., vT. E. Taylor (Christchurcli North) ■ said, that he could not cou-< gratulato the Government on the largo surplus which: was shown in tho A Financial Statement . . '.given, by tho - Prime Minister''in'respect of the p&st seven months. It was a good thing for tho\ finances to lw in a buoyant condition, but a huge surplus showed that the people ivaro being over-taxed. He : went on to express the opinion that a disgraceful of: finance was permitted to Obtain in New Zealand'. Tho people wore not alivo to tho burdcil resting on them. Thoy pried_out On all sides that tho cost of living was going up, and one'explanation was that, by : means of various tuxes and charges, .we • were.taking from tho pockets of tho ' peoplo large amounts ot money which should remain with them ; for their own . use. •:■■■ Sir Joseph Ward said lie had always ■: believed in making an absolute certainty: in making his Estimates. . He. would ten thousand times sooner como to the V end of tho year with a surplus than a deficit. •' ■ " •