Untitled

Oamaru Mail, Volume III, Issue 726, 7 August 1878, Page 2

The Colonial Treasurer (the Hon. J. Ballanoe) delivered his Financial Statement last night in the House of Representatives. We have received a full report of the Statement, but it is impossible for us to publish it, owing to a pressure of other matter. The Government propose the abolition of the ml ralorem duties, and the substitution instead of these unsatisfactory charges speeiiic duties, the object being to avoid the possibility of fraudulent entries at the Customs. While it is proposed to remit the taxes upon a number of articles of every-day necessity, such as tea, sugar, &c. it is also proposed to place a tax ui,o'n land. The Statement contains much that is of interest, and we shall take an early opportunity of reviewing the •Ministerial proposal. In the meantime we may say that so far as we have been able to arrive at a conclusion from a cursory glance at the Financial Statement we 'lave every reason to be pleased with the programme put forth by the Government. The Statement bears evidence of having been carefully prepared, and in many respects contains information rarely sii clearly put in Treasurer's budgets. Not the least satisfactory item which the Colonial Treasurer puts before us is the announcement that after paying all liabilities for the vear there is a surplus of L120.4GS 13s. * 2d. WeU mr.y ~li. Baxlan.ie e.ay that " considering that tin. effect of the financial changes at the close of last session was to produce a large estimated delicieiioy, this surplus is as -unexpected as it is gratifying." This surplus, it. is proposed t.> apply to the prosecution of (tie «o---|: "f v.,,;.v[ lV eo.iFfuction, tie Oovern'oero iiiy-nrplnsac-Icruiug «\-j ye..r should be unvoted to i this purpose, until the railway system i connects every part of each island.