THE FEDERAL BUDGET.

Evening Post, Volume LXVIII, Issue 95, 19 October 1904, Page 5

THE FEDERAL BUDGET.

A HOPEFUL VIEW. [MESS iSSOCIATION.] MELBOURNE, 18bh October. The Federal Budget was delivered tonight by Sir George Turner. The Treasurer took a hopeful view -of the harvest and trade prospects. The total revenue for the year was £11,631,056, of which the Customs contributed £9,105,758, and the Post Office £2,500,000. The revenue exceeded the estimate by £64,000. The Treasurer estimated the revenue for the current year at £11,570,000, the Customs duty per head of population being £2 5s 4d. In the return of surpluses to States, while New South Wales, Victoria, and South Australia' have gained largely, Queensland! and; Tasmania have lost heavily. The expenditure last yean was £4,252,652, being £67,000 below the estimate. For the cm-rent year the expenditure is estimated at £4,433,000. SURPLUS FOR THE STATES. A FALLING OFF. (Received October 19, 10*46 a.m.) MELBOURNE, This Day. The Treasurer estimates that the surplus to be returned to the States for the current year is £7,138,000 — a falling off of £243,000. This is a serious matter for the States. In the Treasurer's own opinion, there will be no true federation until the surplus is divided between the States on the basis of population. H e would have liked to see a uniform penny postage within the Commonwealth, but the loss of revenue prevented a change of present. TO-NIGHT'S SALE OF PETONE SECTIONS. * The auction sale of the block of land situate at Petone known as formerly portion of the Buick Estate, and which has been advertised for some weeks past, takes place at Messrs. Macdonald, Wilson and Co.'s Exchange Land Mart to-night at 8 o'clock, when y large attendance of Petone and city residents, by whom much interest has been taken in the sale, is expected. The blook has been subdivided into fifty building sections having frontages to Bol-ton-street and Adelaide-street, these streets being at present under formation in accordance with the bylaws of the borough, •the frontages ranging from 33ft to 4-lft 7in by varying depths up to 191 ft Bin. They are situate within a few yards of the main thoroughfare of Petone — Jacksonstreet — and are close to , tho Post Office and public school, and are stated to be perfeotly high and dry and free from flood waters. The terms of salp are liberal — namely, 10 per cent, deposit, 10 per cent, in six months, 10 per cent, in twelve months, and tho balance in five years, the interest hoing 5 per cent. The manner in which Petone haa developed of late years, and tho contemplated straightening of the Hutt railway, is expected to ensure a successful sale. Full details are given in the advertisement eliewherei