NEW ZEALAND FINANCES

Evening Post, Volume LXXXIX, Issue 125, 28 May 1915, Page 2

NEW ZEALAND FINANCES

YEABLY STATEMENT The yearly statement of the finances of the Dominion was published in the Gazette laet night. The year opened with a credit balance of £426,905 in the Ordinary Revenue Ac* count, and after transferring £350,000 to the Public Works Fund the year closed with a balance of £149,047. The total revenue of the Dominion was £12,443,525, as against £12,224,338 last year, an increase of £219,187, made up as follows : — 1914-15, 1913-14. £ £ Customs 3,167,283 3,426,744 Stamp and Death Duties 1^,417,206 1,221,970 Postal and Telegraph revenue 1,353,443 1,257,537 Land Tax 799,640 767,451 Income Tax 540,318 554,270 Beer Duty .... 127,659 127,041 Railways 4,106,675 4,028,738 Registration and other fees ... 101.020 100,634 Marine 50,387 53,036 Miscellaneous ... , 461,497 424,066 Territorial revenue 239,622 190,444 National Endowment revenue ... 78,770 72,401 On the expenditure side the payment for interest And sinking fund was £3,071,448, whereas last year the bill was £2,887,980, an increase this year of £183,468. Pensions expenditure showed increases as follows:— Old age pensions, £436,765 (£394,558); widows' pensions, £31,610 (£27,073) ; military pensions, £47,605 (£29,445). In the Public Works Fund the available balance at the beginning of the year was £1,178,583, and the year ended with a credit balance of £695,762. The sum of £350,000 was transferred to the fund from the Consolidated Fund, in terms of the Treasurer's Budget announcement. The principal heads of expenditure were a* follow.-— Railways, £1,146,753; Public Buildings, £416.999: Roads and Bridges, £514,429 ; Telegraph Extension, £228,395. The expenditure on works and Departmental services was £2,557,294. In spite of the war a balance of £773,200 was shown in the State Advances Account at the end of the year, the previous year having closed with a balance of £875,557. Particulars of what some of the departments have cost are interesting. These are as follow :— Railways, £2.881,087 (receipts £4,106,675); Post and Telegraphs, £1,244,568 (receipts £1,353,443); Education, £1,207.982; Agricultural, Commerce, and Industries Department. £206,731 ; Labour Department, £28,141. Sale of coal from State mines realised £213,066, and tho annual appropriation on this account was £209,642, with £25,233 in cash in the public account. Naval deTence cost £9,000. Public works absorbs £2,557,294, of which £33.219 was spent on immigration and £1,146,753 on railways. Proceeds of sales of workers' dwellings were £3,278. On the fruit-preserving industry ah expenditure of £10,000 was 'made, and the charges and expenses amounted to 3s 6d, the balance in hand is £1,499.