FORGING AHEAD

New Zealand Times, Volume LI, Issue 11874, 7 July 1924, Page 7

FORGING AHEAD

N.S.W. PASTORAL INDUSTRY MINISTER OF AGRICULTURE TALKS OPTIMISTICALLY. INCREASE IN REVENUE. Bv Telegraph.—Press Assn. —CopyrightSYDNEY, July 5. Speaking at an official luncheon in connection with the Sheep Show, Mr F. A. Chaffey, Minister for Agriculture, said he was of opinion that they should he optimistic regarding the future. Statistics disclosed that in 1912 the value of the wool, frozen mutton, and lamb exported from the State was £12,052,407, while ten years later it had increased to £24,423,930. There should be no interference with the stud-breeder, who was able to produce the flocks that were responsible for the higher standard of wool.' The more they were left alone, the better the results that would be obtained. New Zealand had given the lead'in this direction, and New Zealand lambs enjoyed a reputation.

In 1912 the value of frozen mutton and lamb exported from New South Wales was £655,567; and in ten years it had increased, to £1,659,327. He thought there would he a tremendous increase in the near future.

FEDERALHNANCES SUBSTANTIAL SURPLUS SHOWN. BIG INCREASE IN REVENUE. Bv Telegraph Press Assn.—Copyright MELBOURNE, July 4. In the House of Representatives, Dr Earle Page, in his Financial Statement, 6aid the revenue for the past year amounted to £66,014,243 and the expenditure to £63,357,150, leaving a surplus of £2,657,090, which, with the surplus of £7,423,574 brought forward from 1922-23, made an accumulated surplus of £10,085,667. The Treasurer added that the figures might be slightly altered when the accounts were completed, but were substantially correct. The principal increases in revenue were: Customs and excise, £6,100,782; Post Office, £103,969; estate duties, £220,912. The chief decreases were:— Income tax, £1,492,511: interest on loans to the States for soldier land set. tlement, £479,673. The decrease in income tax. said Dr Page, was largely due to the delay in assessing the tax after the. amalgamation of the Oomonwealth and State taxation offices. The principal increases in expenditure were: Ordinary votes for departments, £7,017,040; special appropriations, other than for war, £145,777; war and repatriation services, £339,498. BOUNTY ON BEEF NOT WANTED IN AUSTRALIA, GOVERNMENT’S VIEW. Bv Telegraph.—Press Assn. —Copyright MELBOURNE, July 6. Mr Stanley Bruce announced in the House of Representatives that the Commonwealth Ministry had decided not to approve the bounty on exported beef, but that it haa approved of the payment of a bounty of 10s per head on exported live cattle. During 1923 the bounty on frozen and canned beef and live cattle amounted to £141,000. Inquiries had shown that the priqps which growers were 6btaining were higher this year without the bounty than they had received last year with it.

QUEENSLAND LOANS

PREMIER FORECASTS ANOTHER. Bv Telegraph.—Press Assn. —Copyrigh: BRISBANE, July 6. The Premier, Mr E. G. Theodore, re,plying to his weloome home, declared that the conversion of loans falling due next year, amounting to over £12,000,000, had been arranged satisfactorily. The loan for renewal would be .placed on the market when a favourable time arrived. He said* he would have to raise a new loan ql £3,000,000 before long.