TREASURY WINDFALL.

New Zealand Herald, Volume LXIV, Issue 19744, 17 September 1927, Page 10

TREASURY WINDFALL.

DUTIES PAID ON LIQUOR.

TRADERS* FEARS OF INCREASE. PENALTY OF 41 DAME RUMOUR." [Br TELEGEAFH,—SPECIAL REPORTER.] WELLINGTON. Friday. The apprehension of wine and spirit merchants, tobacconists and traders in other dutiable articles in New Zealand concerning possible adverse alterations in the Customs tariff has given the Treasury tho use of over £450,000 at a period of tho year much earlier than the amount would normally have found its way into the coffers. The total mentioned is .the conservative estimate of reliable authorities of the duty which has been paid on clearances of stocks from bond in excess of normal requirements. During the months prior to the day on which tho publication of the revised tariff allayed alarm it is estimated the clearance of spirits over the normal quantities amounted to no less than 220,000 gallons, on which tho duty was £409,000. Merchants and tobacconists crowded their stores »and shelves with about 12,000,000 more cigarettes and 110,000 more pounds of tobacco than they usually carried, and on them they paid £38,000 in duty. It is stated in Wellington that one firm arranged accommodation to tho extent of £30,000 with its bankers to enable it to take precautions against a possible increase in duty. While these traders have been left with the bank overdraft to meet as the price of their credence of "Dame Rumour, they are in a better position than an apprehensive motor business which a day or two before the tariff amendments were introduced in the House paid a cheque for £13,000 to enable it to clear stocks. It has since found that tho duty on the goods cleared has been reduced by 5 per cent. _____