DOMINION'S FINANCES.

New Zealand Herald, Volume LIV, Issue 16669, 13 October 1917, Page 6

DOMINION'S FINANCES.

FIGUBEB FOE HALF-YEA}? DECREASE IN REVENUE. ... CUSTOMS AND RAILWAYS. '^ _ \ "'i EXPENDITURE INCREASED.- If [BT TELEGRAPH.—SPECIAL CORBESPO!fDEN7.I " st

WELLINGTON. Friday. > A statement concerning the finances of; the 'country was made by Sir Joseph Ward in the House of Representatives this afternoon. The Minister gave parti., culars of the ordinary finances and thePublic Works accounts for the six months ended September 30, 1917, compared with the corresponding period of the previous year.

Sir Joseph Ward said the expenditureshowed an increase for the 1917 period of £100,599, and the revenue a decrease of £299,769. The net result was that we were £400,368 worse off than we were at this time last year. The position of our resources at the end of September was very much stronger than at the torresponding jeriod last year. Cash totalled £1,348.314, advances outstanding £1,087,189, and investments £3,612,845 | total of £6.038.848. Last year at the same time there were £300.000 of Treasury bills outstanding, but this year there were no Treasury bijs outstanding. The amount received in the Treasury during the six months was £7,561,601; for the same period last year it was £6,349,627.

The expenditure last vear was £6,256.905» this year it was £7,937,607. On Septets' ber 30, 1916, the cash investments farevenue purposes were only £2.258,801; this year they amounted to £6,038.8 iB. '.Hie Minister remarked that, irrespective of the fluctuation of expenditure, the country was in a remarkably strong posi. tion, and it was a good thin or it was In the revenue Departments that made up the general total the figures for thu six months ending September 30 of 1917 and 1916, compared as follow :—

1917. 1916. Difference. £ £ £ Customs ... 1.591,391 1,944,253 352,662' Stamp & Death ; : Duties 823,530 833,856 10,326* ' Post and Tele- \ graph 861.142 822.947 88.1' St ; Land Tax ... 9,788 7.851 1.9371 : Income Tax ... 135.121 15.499 129.(^t Beer Duty ... 93 897 86237 Ifftf V" Railways ... 2,055,814 2,209.811 153,997* Regis t-raiion, etc 47.193 48 823 1.893* Marine ... ... 16 073 . '21,3«8 3.9P5» ~ Mi«cllaneotts 215151 175.404 39.747*. ' T»rriter'Rl ... 88,156 95,480 7,321* National Endow- ' men* „. ... 100.493 .33.971 14.5?2f , Other Receipts 10104 2.127 7977? *

Totalo ... ffi.(H9.BFB £6 349.627 £289,769" •Decrease, tlncrease. Upontte whole, Sir Joseph Ward said, the position was very satisfactory; Then .\ had been a very large decrease in Customs and railways. The average was below thi ■•'■. reduced estimates he indicated in tri • Budget, but it was just as well to sa/ ' what those fluctuations were. '* The fa<:fi shows the House and the country, too.*- ' said the Minister, " that we cannot eipecii to have anything approaching the revenue , >: of last year." . p The Hon. D. Buddo (Kaiapci): There '- will bo no intention of raisin" the railway : rates to make rm the revenue? Sir Joseph Ward: We do not deal In k deficits, JThere is not doing to be a i deficit. {Hear, hear.) This matter will 1; not come tip until the end of next vear. ; *• It is under consideration now, and there 1 is a suggestion in regard .to railway. 1 staffing. There will be no idea of raising. I the revenue of anv Department to meet a m possible deficit. If we felt we were going m to have a deficit we would have to face! S it now, but we are riot going to have fe one. to