A PROSPEROUS STATE.

Mataura Ensign, 3 November 1911, Page 5

A PROSPEROUS STATE.

NEW SOUTH WALES BUDGET. BY ELECTRIC TELEGRAPH. —COPYRIGHT. PER UNITED PRESS ASSOCIATION Received November 3, 9.15 a.m. SYDNEY, Nov. 3. Continuing his Budget statement in the Legislative Assembly the Premier (Mr McGovven) said that last year the State received £1,405,371 less from the Commonwealth than in the preceding year. The sale cf funded stock in Sydney realised £4,963,643. It was gratifying to know that they were able to raise locally all the money required for loan works. The Harbor Trust showed record work. The western channel would soon have a minimum depth at low tide of 37ft., which would enable deeper-draught vessels to navigate it witii safety. Building was also easily a record, being £5.703,285,515. Notwithstanding this increa.se, estate agents could not meet the demands for houses. The prosperity was shown bv the fact that of nearly £400,000 charged for water and sewerage rates only £7l was outstanding The balance at credit of depositors in the Savings Bank was £16,026,132, an increase of over £2,000,000, the largest increase in the history of the bank. The advances made to settlers were being - promptly repaid. The production of wool, wheat and butter showed higher results than in any previous year. The sheep at the end of 1910 numbered 45,500,000. WEALTH OF THE STATE. Received November 3, 9.45 a.m. SYDNEY, Nov. 3. Continuing his Budget speech Mr McGowen said that the production of primary industries was as follows: Pastoral £21,028,000 Dairying 4,776,000 Agricultural ... 9,489,000 Mining 8,455,000 Forestry and Fisheries ... 1,108,000 Minister for Industries ... 2,119,000 ! "he increased value of the raw material in process of manufacture was £16,794,000, a total of £39 5s 7d per capita compared with £24 8s 3d sixyears ago. The wheat yield was 28,000,000 bushels, and the butter manufactured 72,000,6251b., with a record export of 27,047,4811b., valued at £1223,518. For the first time in history he was going to take the surpluses from Government business undertakings out of revenue and place them in the Public Works Fund and use them for developing the country not giving taxation. Mr McGowen indicated the imposition of fresh taxation for the purpose of establishing a sinking fund to pay the public debt. Mr Wade (Leader of the Opposition) said he was glad to hear of the country's prosperity. He deprecated increased taxation. The debate was adjourned. INCREASED TAXATION. Received November 3, 9.45 a.m SYDNEY, Nov. 3. Mr McGowen declined to give any particulars regarding the proposed increased taxation