VICTORIA’S SURPLUS.
REDUCTIONS IN STATE EXPENDITURE. MELBOURNE. July 4. The State Treasurer (Mr W. Shicls) trusts to be able to announce a surplus of £153,000 when he makes his Budget statement. The Government, ho says, has effected a reduction ia the State expenditure totalling £600,000. Of this £300,000 is permanent reduction. Working expenses of the railways decreased by £234,000, and old-ago pensions by £70,000. COMMENTS OF ENGLISH NEWSPAPERS. (Received July 5, 4.36 p.m.) LONDON. July 4. The "Financial News,” writing in regard to the surplus announced by Victoria, says it is tho more notable inasmuch as tho result has been achieved in a year of unparalleled drought. The “ Daily Mail ” hopes Victoria’s example will bo followed by tho other States of Australia. The “ Daily Telegraph ” says the announcement is a reassuring factor as regards the Australian colonies. The “ Morning Leader ” considers the nows of the surplus to be gratifying. The “ Morning Advertiser ” hopes this earnest endeavour will go far to reassure investors whom adverse criticism of the colonial financial policy may have disturbed.
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New Zealand Times, Volume LXXV, Issue 5009, 6 July 1903, Page 5
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173VICTORIA’S SURPLUS. New Zealand Times, Volume LXXV, Issue 5009, 6 July 1903, Page 5
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