PITH OF THE BUDGET.

Lake Wakatip Mail, Issue 2644, 4 September 1906, Page 5

PITH OF THE BUDGET.

'• Ii will lie the aim of the Government to tjiovv tint S'tin'! finance i» not inconsistent with prugr ssive legislation aid vigorous adnnntsti it o i." The i;r»s3 puYic debt on the 3ht Maich la-t £02,191,040—an inca-aee of £2,279 34') for th- year. The increase in the net public indebtedness was £2 200 839 fir the year. The net pnv.it-: wealth of the colony is C3timat>d at £257,710,000, and the value of tho public property at £07,520,387. The a«sets of the lonv are consequently set down at £320 230,387. The total indebtedness of the State and of local bodies in the colony is £71,215,000. The balance of assets over liabilities, on this basis, is £255,015,321. Piovision is to be made in future for the payment out of the revenue account of the of repairs and additions to public build ngi and for the maintenance of re ads. The estimated expenditure for 1900-7 is £7 575,972—an ineiease of £453 632. The estimated revenue is £7,807,000, or £217,041 iu excess of actual receipts for 1905 0 Of the sum of £788,794 to the credit of the revenue account on the 3Ut March, it is piopos"d t> transfer £750,000 to the Public Woiks Kund. The estimated balance at the end of the year is £329 823, lens such nuns as may be voted on the Supplementary Estimates. Authority "ill be asked to a loan of £1,('00.000 for public works ouiposes, the mot ey to be obtained locally. ft is proposed to create linking funds to redeem ivivnuiueratm: ioai s. A .'inking fund is.also to 1 e created for the repayment of lo ns for the acquisition of land for uctUument purposes. it is further proposed to pay off from time to time the £700,000 Treasury bills outstanding. It is anticipated that the North I-.land Main Trunk railway and the formation work* of the Midland railway will be finished bv the end of 1908.

"The Otago (Antral railway \\ i 1 hive been carried to tlie 'present point of stoppage' by the end of Mirchnext." It is hoped that the nvxt few years will sec a gieater impetus given to the construction of railways, and it i» believ- d that tie necessary funds will he obtaiiiahia without recourse to the Loudon money market. "Some practical scheme should he dc-vis-ed to enable employed on the railway construction works to secure homes for themsel vps and their famihes. For this pen - poce Parliament will be to set a«ide 20,000 acres of land along the North Island Main Trunk line, the Otago Ceutial, and the Midland railway lines, which the Lamb Department will survey and cut up into suitable areas. Assistance will be given tow ards erecting suitable dwellings for those settling on this land." All the ordinary Grown lands now unsold or unleaeed ar« to be Bet aside, with the intention that the proceeds derived from them tha 11 form part of an endownment fund, to be available solely for the purposes of education, old-age pensions, and the maintenance of hospitals and charitable institutions. Important proposals are made in respect to the tenure of land already disposed oi by the Crown. The 999 jeers' lease is to be discontinued, being replaced by a 66 years' lease, with pruviaiou for re valuation at the end of tl.e term. The holder of the 66 years' lease will ho permitted to p*y efT the capital value t> 90 per cent, of its amount, the rent being proportionately reduced and all restrictions bemy removed when 50 per cent. of tho capital amount bus been paid. All capital sums so paid will be refunded at the end of the tenn. when the line! will be reoffend with valuation for impnv emeut». The holders e..f 999 years' Ipases, including those win hold under the Lind for Settlements Acta >ll have the option of converting into i.evv leases "at original or present values.

The holders of 099 years' leasts, other Hip,ll those who hold under the Land for Settlements A':t j , will have the additional option of suirendering their leises, in which case the land, burdened with valuation for improvements, will be sold by public competition, and the proceeds will be devoted to the purchase of future land for settlements. A limit of a cipita! unimproved value of £50,000 is pioposed to he placed on t ha amount of laud that may ba lawfully held by any owner. An endeavour is to be male 1o put Native landowners in a position to deal with their lands or to use them to the best advantage. Various improvements and reforms in the postal and telegraph system are proposed. A uniform rate of postage upon letters of Id for each 4<.z is to he fixed. The estimated annual v«lue of this concession to the pu : lie is £17,000, which will, however, be recouped to the Post Office in large measure by the new cbs3 of business that, will arise. The desirability of a reduoti >n in the inland parcel post rates and in the cwninuaji aon money orders is under ci nsideratiou. The initial weiylr. of letters for transmission abroad is t> bs raised, anl the postal rates to countries that do not accept the ij'-nny letters is to be reduced. The uniform clia-ge of id per word, irrespective of the length of the message. The Government is considering the expediency of establishing a council, or board, in New Zealand for the control of defence matters, subject to the authority of the Minister of Defence.

Various proposals are to be made for the management of the Volunteer systems. A special vote of £'25,000 will he asked for the provision of telephones in the more remote parts of the country. The wlode of the Government depaitrnental accounts are to be audited in future by the Audit Office. The Government intends to establish a complete experimental dairy station and school of instruction.