THE FINANCIAL SITUATION.

Manawatu Standard, Volume XLII, Issue 1019, 12 November 1917, Page 5

THE FINANCIAL SITUATION.

SIR JOSEPH WARD REVIEWS THE POS-ITION. (SrEcm to "Standard.") CHRISTCHURCII, Nov 10. Reviewing the financial position of the Dominion lor the seven months ended October 81st, Sir Joseph Yard said in an interview to-day that on the whole it showed New Zealand to be in a very satisfactory position financially. The revenue for that period showed'a decrease on the total revenue of £343,401 compared with the corresponding period of last year. The mam decrease was in the customs and railways The expenditure for the same period showed an increase of .£345,160. Ihe chief steps in the increased expenditure were in the Interest and Sinking Fund Account, Post and Telegraphs, Railways, and Education. There was also what might be termed an abnormal' increase of £128,259 accounted for by the. .purchase of wheat. He further remarked that an increase in the Interest and Sinking Fund must necessarily bo expected till the end of the war, and full provision must be made for the expected decreases in customs and railways. . . He was glad to say that the position of the country from the standpoint of the ordinary revenue was exceptionally strong. As to how lie would stand on the broad basis of the country's need, a great deal would depend on the quantity of produce that, could be got out of'the country during the next five months, and every effort was being made that the balance of produce held and that to come should get away within that period. It was too much to expect that the whole of them could be got away, but we must hope for the best. "1 may remark," added • Sir Joseph, "that the next loan will not bo put on the market till the very latest possible date, so as to ensure all moneys possible being; back in the hands of those on whom we may rely for the next loan to be as successful as its predecessors. The country lias done so well up till now as regards loans that we can safely say that the future, judging by the past, is assured in that respect. Everything points to a bountiful harvct, "and the country has a great deal to be thankful for."