FINANCE OF THE COMMONWEALTH.
HUGE SURPLUS FOR DIVISION. MELBOURNE, July 2. Tho Commonwealth revenue for tho year from Customs and Excise was £9,681,000, exceeding tho Treasurer’s estimate by £626,000. Sir George Turner explains that the excess of duties camo from grain, fodder and sugar. From grain New South Wales collected £200,000, Victoria £120,000, Queensland £70,000, and the other States £IO,OOO. Tho postal revenue amounted to £2,483,000, being £39,000 in excess of tho estimate, the expenditure—£3,sß4,000—being £3OOO under the Treasurer’s estimate. The total surplus returned to the States was £8,200,000. They got back £1,856,000 above tho three-fourths to which they were entitled.
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Bibliographic details
New Zealand Times, Volume LXXV, Issue 5007, 3 July 1903, Page 5
Word Count
101FINANCE OF THE COMMONWEALTH. New Zealand Times, Volume LXXV, Issue 5007, 3 July 1903, Page 5
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