DOMINION FINANCE

Dominion, Volume 10, Issue 2968, 4 January 1917, Page 6

DOMINION FINANCE

o INCREASE IN CUSTOMS AND BEER DUTY ECONOMY URGED By Telegraph—Press Association. Auckland, January 3. A statement showina tho amount or Customs returns and beer duty collected in tho Dominion during tho month of December as compared with, tho previous December and also during tho calendar year 1916, as compared . with the year 1916, has been supplied by the Hon. A. Myers, Acting-Minister or Finance. The revenue under both heads shows a f alling-off for the last month, as compared with the previous December, but tho receipts for the past twelve months show increases over those or' 1915, amounting to £633,815 in Customs and £51,775 in beer duty. The returns for tho nine months of the present year are also given. The figures are as follow: —Customs and beer duty: December, 1916, £278,292 and £16,737 respectively; December, 1915, £288,192, £22,417. For -the ■ calendar year 1915 the figures were £3,199,612 and £137,226, and for the calendar year 1916 £3,833,427 and £189,001. For tho nine months of the present financial year £2,927,203 |and £135,301. Mr. Myers, in an internet to-night, stated that while the above figures dieclosed the slight falling-off in Customs revenue for the month of December of £9990, ami in beer duty of £5670, it was satisfactory bo far as the Dominion's finances were concerned that for the calendar year just ended there was an increase 0f,£633,815 in Customs revenue as compared with the twelve months ended December 31, ,1915, "Although I have not a statement of the actual position before me," ho added, "I think it may be safely accepted that .this excess of revenue for 1916 is due more largely to enhanced values and primage duty than to any increase in quantity of goods imported." . In the course of further remarks, tho Minister said:—"While it is gratifying that the Dominion is experiencing a period of phenomenal prosperity owing to our important products realising prices which have never before been obtained in the history of. the country, . nevertheless 1 would again point out, in view of tho problems that, will have ■ to be faced when peace, arrives, the . desirability of practising habits. of economy and thrift, and of endeavouring, as far as possible to curtail the purchase of luxuries. Patriotism requires us to refrain . from spending money on non-essentials when . every penny wo can spare is needed* for the prosecution of the war. Our policy should he to restriot our expenditure to reasonable necessities, and to lend to our country all we can save. We must not forget that the financial strain will increase the longer.the war lasts; therefore, the spirit of economy and self-sacrifico must grow with the need until the hour of victory arrives."