PROSPEROUS DAYS.

Dominion, Volume 5, Issue 1277, 4 November 1911, Page 5

PROSPEROUS DAYS.

PROGRESS OF NEW SOUTH WALES. Ui Toleeraph—Press Association—Copyright Sydney, November 3. The Stato Budget, delivered in tho Assembly last night by Mr. M'Gowcn, shows that last year the State received £1,405,000 less from the Commonwealth than in tho preceding year.

Tho sale of funded stock in Sydney realised £4,963,640. It was, said the Statement, gratifying to know that New South Wales was ablo to raise locally all the money required for loan works.

The Harbour Trust showed record work. Tho western channel soon would have a minimum depth at low tide of 37ft. This would enable, deeper draught vesseh to navigato it with safety.

Building operations also easily constituted a record, 5700 buildings having been erected at a cost of £3,285,000. Notwithstanding tho increase, estate agents cannot meet tho demands for houses. Prosperity was shown by the fact that of nearly £400,000 charged to tho water sewerage rates, only £71 was outstanding.

The balance at tho credit of depositors in the Savings Bank was £16,020,132, an increase of ovor £2,000,000—th0 largest increase in tho historv of the bank.

Tho advances made to settlers wore being promptly repaid.

Tho production of wool, wheat, and butter showed higher results than in any previous year.

Sheep at tho end of 1910 numbered 45,500,000.

The production oi primary industries showed excellent results, tho items being :— Pastoral industry 21,028,000 . Dairying .... 1,776,000 Agricultural 9,489,000 Mining 8,455,000 Forestry and fisheries ... 1,108,000 Minor industries 2,119,000 Tho increased value of raw material in process of manufacture was .016,794,000, or a total of ,£39 ss. 7d. per capita, compared with .£2l Bs. 3d. six yqars ago.

Tho butter manufactured totalled 72,000,G251b. —a record. Tho butter exports totalled 27,017,4811b., valued at .£1,223,518.

For tho first time in tho history of tho Stale it was proposed to take tho surpluses from Government business undertakings out of reyenuo and placo them to the Public Works Fund to use for developing tho country.

Tho Budget indicated fresh taxation for tho purpose of establishing a sinking fund to pay tho public debt. The Government did not believe in leaving all to posterity. Mr. Wade, Leader of tho Opposition, said he was glad to hear of the State's prosperity. Uoweper, he deprecated increased taxation. The debute was adjourned.

Mr. M'Gowen declined to give any particulars regarding tho propped increased taxation.