the PUBLIC ACCOUNTS.

New Zealand Herald, Volume XL, Issue 12279, 25 May 1903, Page 5

the PUBLIC ACCOUNTS.

With reference to the public accounts recently published, a correspondent writes: •—"Several blemishes appear. Firstly, of the surplus, £505,906, no less than £70,C00 did duty last year as surplus, because only £200,000 of last year's surplus went to public works, the rest being carried forward—perhaps to help the working balance M case the revenue of 1902-3 fell shortMa of course that £70,000 figures again in the accounts just gezetted as 'surplus.' The treasury bills (£700,000) were originally foi Working balance in connection with interest remittances on debt, but the interest debited in Treasury bills shows that the amount generally outstanding is about a million, being at its minimum £700,000 ' the end of the financial year. Public works loan shows charges and expenses of fusing a million to be £88,179, and loan, *-000,000 for advances, to settlers absorbed forges, etc., £43,993, making together 152,177 for raising at a time of mild stringency a million and a-half. The narge averages £8 16s per cent., rather to pay for one's whistle. Instead of ® Chamber of Commerce, Auckland, eing invited to consider diversion of re- . nu ® to the Pacific cable, a more' effective M VeS i Rnf " of 100 guineas would be a joint port, at the instance of the New Zealand associated Chambers of Commerce, on the wl' e^ men^ stem 01 account-keeping, uj. tiding the New Zealand railways, and s y®tem of audit. An opinion prevails •mi 4.u ! ® not satisfactory in the Treasury, art. Chambers of Commerce Fr~> ! S > dispel (he uneasiness. ~l Pt that the advances to settlers loan tS! US f. S 3,998) are spread over a long h»v?' w , can ' le Department, under its es > make a profit out of the settlersV"