The Oamaru Mail. SATURDAY, OCTOBER 8, 1910.

Oamaru Mail, Volume XXXVIII, Issue 10580, 8 October 1910, Page 3

The Oamaru Mail. SATURDAY, OCTOBER 8, 1910.

The announcement made by the Prime Minister to the LibeThe Turn in ral and Labor FcderaFinances. tkm on Monday night in Wellington was not unexpected. In fact the gist of the announcement had been hinted at some days ago. Nevertheless for the statement of the accounts to September the 30th, to be made on October 4 is something of a revolution in Dominion methods. It is the revolution we have been urging for many'years. It represents the new spirit in which the Liberal Governments have always regarded finance —as something for the public to be given the earliest knowledge of. Of old the highest statesmanship was that of the man who eon Id keep his knowledge to the last moment from the imblic who were entitled all the time to have it without delay.' This, however, "is the minor aspect of the transaction.' The -major aspect concerns the figures themselves. Last year the Budget estimated the results of the revenue collections for the then coming year as £373,000 better than the actual results of the previous year. The figures quoted by the .Prime Minister on Monday night show that this betterment has been achieved in the first six -months of the year with £IOOO to spare, the actual betterment over the estimate' being £374>,000. That means that we may expect to have an additional £374,000 in the next halfyear, in which event the surplus for < the year ought to be something like threequarters of a million. But as the betterment of the estimate was nearly £400,000 the surplus will have to bo reduced accordingly. In any case the results of the year's operations are sure to be very fine. The cry will be hoard without. dWbt that the tariff ought to be altered to lower the cost of living. But the big revenue is not due to increased consumption of the necessaries of life. Indeed it seems not even to be- due to increased expenditure on luxuries, for there is actually a decrease in the Beer Duties received. If as .everybody declares good times always result in increased beer duties it must follow from the fact that they are not increased that the power of selfdenial is increasing with the increase of the present good times. Then it must follow that the increased revenue is due to the consumption of articles wanted in the development of estates and farm properties. In' other words, the country is so prosperous that most men have large profits to 'invent on the development of their properties. On the whole, then, the state of the finances discloses a most exceptional state of prosperity. Now that the countrv' has obtained another chance, shall we not bestow more energy on the business of opening new markets'for our products? That,-.of course, is another, question. . For the present we may rejoice .that the year has turned -out so well so far. '