REVENUE.

Evening Star, Issue 12101, 6 November 1908, Page 5

REVENUE.

IPta United Press Association.] . WELLINGTON, November 6. A ' Oaaettc ’ issued lart night contains n return of the revenue and expenditure of the Dominion fqr the quarter ended September 30, 1908.' The quarter opened with a balance of £429,902, and ended with a balance of £396,184. The revenue amounted to £2,038,521, and the expenditure to £2,066,239. The excess of expenditure oyer revenue was £26,718, this being the difference between the initial and final balances. The actual falling off in revenue for the three months compared with the same period of the previous year was £6,558, and the increase in expenditure for the period under review compared with that of the previous year was £455,448. The chief increases in the expenditure for the quarter werelnterest, £59,158; pensions, £21,754; Postal Department, £51,651; railways, £195,811; and education, £17,228. . [Special to the Star.] WELLINGTON, November 6. The ‘Dominion,’ dealing with the details of tho Public Accounts, declares that they disclose an unusual disquieting state of affairs. Tho quarter (it states) opened with a balance of £422.902. and ended with :* balance of £396,184. During the quarter not one penny was transferred to tho Public Works Fund, due simply to the fact that the expenditure exceeded the revenue. In other words tho country failed for tho first time in many years to make ends moot during tho quarter just ended. Ihe time has now arrived when careful administration and economy will he compulsorily forced on the Government. Tho curtailment of expenditure must necessarily affect many people who are dependent on tho State, and who have believed in the assurances of Ministers when they ridiculed the idea of financial stringency. Tho just resentment of these people and of others will he turned against those in power who in the time of prosperity made no provision for days of adversity. It is a good thing at times to bo optimistic. but it is a very foolish thing to shut one’s eyes to plain facts in order to avoid an unpleasant truth. Those who have warned the Government against their extravagance, and their disregard of tho morrow, have been derided by the Prime Minister as criers of "stinking fidi" and traitors to their country, hut their justification appears in the position disclosed by the Public Accounts just published.