THE NEW SOUTH WALES BUDGET.

New Zealand Times, Volume LXVI, Issue 3258, 15 October 1897, Page 3

THE NEW SOUTH WALES BUDGET.

By Telegraph.—Press A »t-ocialion.—Copyright Received October 14, 11 p.m, Sydney, October 14. The lion G. 11. Reid, Premier, delivered his Financial Statement to-nigljt. Ho briefly outlined his recent visit to England, and applauded Canada's action in lowering the duties Those colonies which tad a high tariff might well make a similar concession in favour of the Mother Country. When in England he devoted his best energies to secure an assent to the Aliens Hill, but he believed this was impossible, ,the factor, against it being the non-exornp-tion of British subjects from the scopo of the measure. He hopes to make a definite statement on tho subject next week* Ho expected to secure legislation oh the subject, which, while hob altogether meeting his wishes, might still prove effective, and which was likely to be assented to. The expenditure for tho year was .£9,505,000,and revenue, including .£333,000 brought forward from the previous year, amounted to .£9,025,000, leaving a balance to credit of -£120,000. Tho railways! revenue had increased by .*£194,000 over the estimate, and tho Laud Department revenue by .£82,000, while the laud tax was less by .£381,000. The incomo tax had increased byXSS.OOO. Tho Customs revenue showed a decrease of .£12,000, but stamps yielded -£22,000 more than the estimate. Tho Federal election cost tho colony .£16,800. After tho threo years* drought which the. colony hajl experienced, it was matter for congratulation that things Were not worse than they wero. Had an average Ceasoh prevailed tho coldny to-day V/ofild have boon bettor off to tho extent of 80,00 c) horses, 535,000 cattle and 28,500,000 sheep. The mining industry had also suffered severely from the lack of rain. As showing the fiscal reform effected, ho pointed out that, compared with tho Customs revenue collected for the year ended June, 1895, the taxpayers had boon relieved through the Customs to the extent of .£828,000. Hext year this total would bo increased by j£64,000. The relief to pastoralists cost -£03,000, making a total of nearly a million lost to the revenue of the country, but loft in tho pockets of the people.