THE NEW SOUTH WALES BUDGET.

New Zealand Herald, Volume II, Issue 445, 17 April 1865, Page 5

THE NEW SOUTH WALES BUDGET.

(From the Sydney Umpire, March 30th.) Yesterday Mr. Smart, in committee of Ways and Means, inado his financial statement. Me first showed the difference between tho Treasury balances 011 tho 15th October, 1863, when he retired from office, and on tho 3rd February, when Mr. Eagar retired. There was a balance of £075,G91 in October, 1863, answering to which w;is an overdraft of £150,796 in February, 1805. Money ought to have been sent by the last mail to pay the intorest due in Loudon on debentures in June next; and, at whatever cost, that money must be sent by the next nnil. Ho did not know where to get the money, and relied on the assistance of the committee. He pointed out the unfounded character of the charges made by the late Government against his statements in October, 1864, and the financial management of his predecessor, Mr. Weekes. He proposed no alteration in the Customs' duties. The only additional taxation lie proposed was by stamp duties, the details of whicli will bo found in our Parliamentary report. By these stamp duties he expected to realise £158,000. Ho anticipated a considerable increase in the revenue from the customs and from the sale of lauds ; by the revaluation of runs he expected to obtain an increase of £140,000. To cover tho deficit for 1863 and 18G4, ho proposed to borrow £550,000 by debentures, 'lhe whole expenditure of 1565 would be met by the estimated revenue, which would be £500,000 over that of last year. Mr. Smart concluded with a formal motion for granting the first item on tho Ways and Meai e.