FINANCES OF FIJI.

New Zealand Herald, Volume LXI, Issue 18888, 10 December 1924, Page 12

FINANCES OF FIJI.

AN OPTIMISTIC TREASURER.

ANTICIPATED SURPLUS.

DEFICIT BEING REDUCED.

[FROM OUR OWN correspondent. J

SUVA. Dec. 5.

Tho Budget speech of tho Colonial Treasurer delivered last week was a satisfactory one. He said that since he had commenced two years ago to take the public somewhat into his confidence there had been a markedly increased interest in the financial affairs of the Colony. This meant the greater goodwill and co-operation of the people, who, he thought, were better able to thereby understand the difficulties of the Government.

At the end of 1923 there was a surplus of £50,316, and the accumulated debt was reduced to £193,165. The import duties for the year would he £199,000, a;, against the estimate of £200,000. The lMiw residential tax was generally collated without much trouble, and came quite lip to the estimate. The rice venture of the Government resulted in a profit of £23,000, which was £6000 above iho estimate. He expected to close the year with a net. surplus of £17,000, and a reduced deficit of £176,000. He was not asking any increased taxation beyond an extra l£d on the port and customs dues, and Id extra on benzine. This in all would yield £50,000. as against £120,000 export duties which the Government had remitted in order to help the planters. The prospects for next year were described as promising. The Colonial Sugar Company was expected to pay £100,000 more in wages than last, year, and another extra £100,000 in 1926. The average price of copra locally had been £2 better than during 1923, and if these prices were maintained the Treasurer said that he expected an increase in the copra trade next year of £180.000. The income from the banana trade should be £50,000 better , than in 1922. Ho thought be ought to say that the Colony had lost tho Australian market for its fruit, and they would invite the loss of the New Zealand trade now if they did not improve the methods of cultivation, packing and export. The cotton industry was estimated to produce £18,000, «s against £3000 last year. The butter increase was estimated at £12,000. On the best information available to him the Treasurer said he believed that the income of the Colony for tho year would be some £560,000 more than in 1922. The deposits in the Savings Bank were increasing. The Indians, who in the past had shrunk from lodging their moneys in the bank, were showing a greater desire to use the institution. He asserted that three new industries were contemplated. It is believod he referred to meat packing, pineapplo canning and large sawmilling developments. The House agreed to the contemplated expenditure of some £75.000 on public works out of a proposed loan of £100,000, including a new Government House estimated to cost £25.000.