NEW ZEALAND FINANCE.

Evening Post, Volume LXXVII, Issue 110, 11 May 1909, Page 8

NEW ZEALAND FINANCE.

-, « REMARKS BY MR, W. FRASER, M.P. {BY TBLXGBAPIt. PBSS3 ASSOCIATION.] GORE, This Day. In an interview with an Ensign representative at Riversdale yesterday, Mr. W. Eraser, M.P. for Wakatipu, made mention of the finance of New Zealand. Speaking of the Prime Minister's recent speech, he expressed himself disappointed. "Sir Joseph Ward," he said, "laid great stress on the increase in revenne of late years, saying little at the same time about the increase of expenditure. Really, the most alarming state of the finances is that very increase of expenditure. This has been going on for some years, until the point has been reached where the increase of expenditure has far overtopped the increase of revenue. Taking Sir Joseph Ward's own figures, the revenue has decreased this year, as compared with the previous year, by £54,761,* whereas the expenditure has increased by £571,548. The whole decrease in revenue has occurred during the last thiee months of the year, for, as a matter of fact, during the first nine months the revenue received exceeded that oi the previous year, for the same period, by £110,922, whereas during last quarter the revenue was £165,682 less ' than that for the same quarter of last year. Of this fall of £165,682, £140,278 is accounted for by a decrease in Customs revenue — an important feature of the matter. It is rather disconcerting to find that Cus- ' toms revenue decreased during the last quarter by a sum nearly equal to what the decrease during the last three quarters amounted to, the latter being £162,038. It fell by £162,000 during the first nine months, and £140,000 in the last three. If this state of things is to continue, it is a poor lookout for our revenue." The session, he added, promised to be an exceedingly interesting one, and a number of important subjects would have to be dealt with. "The question of the finance of the future will not be the least important. I hope Parlia| ment will insist upon a full disclosure of all loan operations that have been completed, as the inlonnation on the subject has only been very scantily supplied for many years past. It is about time that Parliament resumed control of the public purse."