THE PREMIER INTERVIEWED.

Otago Witness, Issue 1989, 7 April 1892, Page 17

THE PREMIER INTERVIEWED.

THE BEVENUE.

The Customs revenue .for the financial year, which closed last night, has turned out even better than was anticipated. The yield for the last two months being not less than L 310.787, which greatly exceeds that of any other two consecutive months on record. You will remember I stated some months ago that the customs authorities reckoned upon very large receipts in February and March owing to advices of intended shipments, but the actual receipts have dwarfed all expectations. Similarly the revenue for the year is by far the largest on record, amounting to L 1,625,174, which is no less than L 90.174 in excess of the Budget Estimates. In beer duty there is a small shortcoming of L 2231. The other returns are not yet in, but the property tax will bo a few thousands to the good, stamps a similar sum to the bad, the latter being duo to the inconsiderate refusal of bloated capitalists to die and swell the succession duties, as some were expected to do. The Treasurer naturally feels this want of consideration acutely as a deliberate wrong done by Conservative property owners to a "great Liberal" Government. However, they did not die, and so the succession duties have fallen short.

I have still reason to believe (as yesterday) that the railway revenue will approximate very closely to the commissioners' estimate. The Colonial Treasurer thinks it will fall short by about LSOOO. The Minister of Public Works does not expect that the shortcoming will be so large as that. In any case there will be no serious shortage, and what there is will be a mere postponement owing to the delay of the grain traffic through the February rains.

THE SURPLUS

In an interview this evening with the Colonial Treasurer he pointed out to me that the surplus which he expects, of at least L 50.000, will not be anything like the - whole surplus for the year if computed in accordance with the practice of previous Treasurers. He said : —

•You will remember that in the Budget I estimated the surplus at L 150,000, which I proposed to devote to various purposes, LIOO,OOO towards paying off the floating debt, so much in aid of the land fund, and so much towards gchool buildings. The burplus of the year's

operations will be in addition to that, and must in fairness be recharged with it in stating the outcome of the year's transactions." Such being the case, I take it Mr Ballance will be able to show in his Financial Statement a surplus of at least L 200,000, and probably more. I pointed out to him that the Opposition speakers and writers who had "declared that the colony was "galloping to a deficit" had evidently stated their case clumsily, for they must have known there could not possibly be a deficit this year while the finaace of the former Governmeub remained in operation unchanged, and that they evidently meant-that the following year when the new taxation should have come into operation would see a deficit in lieu of a surplus. "But that is absurd," Mr Ballance said. "By the time I prepare my Financial .Statement I shall have complete returns before me, and shall know exactly what the new taxation can be made to bring in. I have already a large amount of information on the- subject, and by the time I compile my Budget L shall know within a few pounds what can be obtained from the Land and Income Tax. I■• shall, therefore, be able to regulate my Estimates and to make my expenditure come within my revenue, so why should there be a deficit? That is easily avoided, and it is ridiculous to predict anything of the sort." I did not remind him of 1879 and 188?, which showed that the most sanguine and confident, and apparently well formed, anticipation's may prove illusory. I simply record the Premier's view of the situation, which everyone must hope will be realised.