BUDGET POINTS.

New Zealand Herald, Volume XLV, Issue 13796, 8 July 1908, Page 7

BUDGET POINTS.

■ : ——~—-•■-—-——v * Sir Joseph Ward delivered his Financial Statement last night. The total revenue for the year was £9,055,946. exceeding the previous year's total by £65,687. The excess over ex. penditure was £855,946. " On March 31 last the gross public debt stood at £66,453,897. The gross land revenue totalled £658,792, th© largest amount yet received. , In Customs duties the amount received was £162,525 more than that received during the previous year. The receipts from land tax exceeded the estimates by £22,846, and income tax receipts show an increase of £27,037 on the previous year. The estimated revenue for the current financial year is £8,985,000, or £70,946 less than the amount received last year. The estimated revenue for tho current year amounts to £8,985,000, and expenditure to £8,662,993. Customs revenue is estimated to produce £2,950,000, railways, £2,835,000, stamp: £1,573,000, land tax £570,000, and income tax £310,000. The sum of £650,000 is proposed to be spent on roads and bridges, £250,000 of this amount to be devoted to reading the back blocks. The number of new settlers in New Zealand during the year under all tenures totalled 2235, and the total number of Crown tenants of all description now on the books is 24,096. . ; Considerable expansion is noted in the Post and Telegraph Department. The revenue of the past year reached £822,639. In all, about £8,000,000 has been lent to settlers, the average being £348 each. Nearly £1,500,000 was granted to settlers and workers'during the past year. No loss has been made by the State. The repayments made to the Advances to Settlers Department now reach £800,000 annually, and it is considered that before 1 long this will be increased to £1,000,000. • The proposal to establish penny-a-word i cables is regarded as a feasible one. A land line across Canada, and the laying I oil a special cable across the Atlantic, is favoured. The system of pie-auditing of the public accounts is to be abolished, and post-audit adopted, as in Canada and other British countries. • - - j.- ■■■■ ' ———j * . „• . Referring to the question of national {superannuation, Sir Joseph Ward says: — j "I am confident that such a fund can be j carried out successfully with great advantl age to our peopio and safety to the ooun- ! try." r -' ,-■ ..■;' ,* : • • I j ; "Two objects must be kept before its," j says the Prime Minister, in regard to the Arbitration Act" to do what is right to ! the workers and what is just to the employers." .; It is. hoped to so amend the Act as to satisfy the public demand for' a more workable measure, and providing for the observance of the awards of the Court by the unions. No details are yet forthcoming. '*'•' ' . v '' ia "' * '.■ r,r During the year the purchase of 16 es-. tates was completed, comprising 126,868 acres, the price paid being £565,728. The total area acquired to the end of last year was 1,122,135 acres, at a cost of £1,807.369. ■ For the year 1908-9 the commitments include eight estates, containing 101,634 acres, for which" about £336,155 is to bo paid." Several other large estates are under consideration. From their inception to the present date the Native Land Boards have leased on behalf oi native owners 165,587 acres, and Sanctioned the private alienation of 1,089,020 acres. This makes a total of 1,254,605 acres rendered available for settlement, and it is expected that the area will be largely augmented on the -x>mpletion of the work of the Native Land Com- . mission. . ;'/..'. J '' . ' '.'. ,: ';' , -:'' ; " :