THE DOMINION'S FINANCE.

Lyttelton Times, Volume CXX, Issue 15041, 8 July 1909, Page 6

THE DOMINION'S FINANCE.

The statement which the Hon J. A. Millar has made concerning tho dominion's finance at the end of the first quarter of the new financial year is distinctly encouraging. The Customs revenue has continued to decline, as evcryono anticipated it would, in view of tho economies that are being practised, and tho falling off for the three months, compared with the corresponding period of last year, is £38,085. j. he stamp revenue, which includes the postal and telegraph cash receipts, also shows a decline, and the territorial revenue is less by £20,508. But tho railway revenue has gone up by £92,338 and tho land and income tax revenue by £1063, these two items, with assistance from other sources, being sufficient to cover tlio deficiencies and leave a credit balance of £34,678. Tho margin is not vory large, but if tho improvement should bo continued throughout the year, as there is every reason to hope it will be, thero will b 6 a nice little sum next March to add to the amount which tho Minister of Finance expacts to obtain from tho savings in the public service. Tho financial outlook is not yet bright enough to justify any departuro from tho prudent course which tho Govornmont has laid down for itself-, but it should satisfy our Conservative friends that there is no occasion for tho gloomy predictions with which they have been trying to aggravate the passing difficulties of the country.