THE STATE OF THE REVENUE.

Grey River Argus, Volume XXX, Issue 47828, 18 January 1884, Page 4

THE STATE OF THE REVENUE.

Wellington, January 7. The total Customs revenue collected in New Zealand during the year 1883, ending December 31st, amounted to L 1,414,183, as compared with LI, 515, 915 for 1882, L 1,421,009 for 1881, and L 1,258,362, 258, 362 for 1880. Consequently, 1883 shows a falling off of Llll,OOO as against the previous year, but differs only by L7OO from 1881, which was a good year for trade. The theory of financial authorities is, therefore, that the exceptionally large returns of 1882 were due to a temporary undue inflation of over-trading and over-export-ing, and did not represent a legitimate national increase and steady development of trade. Accordingly, they hold that the decrease is not to be regretted, save from a revenue point of view. - This, however, is sufficiently serious. There is now not the slightest hope of the Customs deficit being made up or even appreciably reduced by the 31st of March. Indeed, each of the three remaining months will have to yield 20 per cent, more than December to save the deficiency from increasing. They may very likely do this much, but not more, and hardly any hopes are now entertained that the Customs will realise more than £1,420,000, which is £100,000 less than the estimate. There seems reason to anticipate that there will be an actual deficit to this extent, or thereabouts, on general revenue, as the deficiency on the railways at present seems pretty safe to swallow up the surplus on the other items of revenue, such as stamps and property tax. The latter lias, so far, brought in £264,000, which is £i 4,000 above the estimate. The latest London advices point to a fair probability that the new million loan will go off all right next week, but that there will not be such a rush for it as there was last time. Experience, however, shows that London financial authorities are very apt to be out in their calculations on these occasions.