REVENUE FOR SIX MONTHS.

Otago Witness, Issue 2902, 27 October 1909, Page 32

REVENUE FOR SIX MONTHS.

The falling of? in Tevenue was, principally : — Customs, £120,250 ; stamps, £83,300; registration, £12,500. Railways showed an increase of £167,016. The reduced revenue from Customs and stamps was due to the financial stringency, but the receipts from the railways more- than compensated for the loss on the Customs. The total concessions on Customs, railways, Post and Telegraphs, and the sheep tax were £565,908. The Treasury bills outstanding on September 30 (£600,000) had been reduced by £50.000. The expenditure on the oi-di-nary revenue account (£3,990,323) was made up ot permanent charges, £1,507,943, and departmental appropriations, £2,482,380--a decrease of £11,781. The total extended appropriations granted by Parliament last session vve: % £3,324,972 for the ordinary departmental purpose*, of which £2.482,380 had been expended. The expenditure on public works for the six months, ended September 30 was £907,933, the principal items being : — Eailwavs. £403,503 ; public buildings, £136,450 ;" roads, £250.251. The cash available for lands tor settlement was £335,662, and the cash ba'ance to credit of the public account in the Bank of New Zealand was £656,110. and of other Government accounts £509,030. Regarding the Public Works Fund, the provision for ways and means till September, 1910, was as follows :—: — Brought forward fiom last year, £434,000 ; loans authorised during the short session, £1.250,000; — total, £1,684,000. The probable expenditure for the current financial year included :—: — Railways. £800.000; additions to open lines, £350,000; lighthouses, £20,000; roads, £452.000 ; development of goldfields, £35,000; telegraphs, £120,000; contingent defence, £10,000 ; land improvements, £20,000 ; and other items making a total of £2,192,950. The applications for public works would probably total 10 millions, which showed the necessity for the pruning knife in connection with general finance. The Government was not in the habit of issuing short-dated debentures, and in most cases it insisted on a currency of not less than seven years, and in the case of Austialian loans 14 years. The Prime Minister went on to refer to the exceedingly satisfactory terms made by the Government in raising loans, and he quoted figuies showing how advantageous these were to the Dominion. Regarding the million loan raised during his recent visit to London, the Prime Minister said this was obtained at 3^ per cent., and there was no brokerage or discount charged in respect of the loan. This information was as much as he could divulge publicly at present. Public woj"'ca required an expenditure of from £50,000 to £800.000 yeaily. The Government had taken up the attitude that no l ail way line should be proceeded with which showed no prospect of returning a reasonable rate of interest.

Customs Stamps Land and inoome tax ... «. Beer duty ... .-r. „, ... Railways t^ Registration and other fees Marine ... . x . »- ?-. Miscellaneous »v Territorial t-.i v.-s ... . £1,284,13 . . 685,751 27,90! 51,39y.. 1,459,64' ... MS* 20,831 133.7& *, 95,981 Total „- To which should be added National endowments, etc. m ...£3,79d,23! 67,14^ Grand total . £3,865,38: