NEW ZEALAND FINANCE.

Poverty Bay Herald, Volume XLII, Issue 13602, 6 February 1915, Page 9

NEW ZEALAND FINANCE.

A SATISFACTORY POSITION

•Per Press Association.) DUNEDIN, this day. The Hon. J. Allen informed a reporter that the revenue for the ten months ended January 31st was £9,854,325, including a balance of £426,905 on April Ist. 1914. The expenditure was £9,832,132, including transfer of £25.000 to PublicWorks Fund, leaving a balance of £22,---093 in favor of receipts. In the Public Works Fund the receipts to January 31st were £2,411,089, including a balance of £1,178,584 brought forward. The expenditure was £1,766,207, including charges and expenses in' regard to loans, £35,179. The balance available on Janu\ ary 31st for public works was £644,881. Mr Allen added that in addition there was the bulk of the Public Works loan authorised last year and untouched yetConsidering the position with the war in progress, public works were in a satisfactory position. The Customs returns for January showed a decrease of £108,---069, as compared with January of last year, but he did not think that represented the position accurately, because in all probability last year there was a very large amount of Customs duties received owing to recovery of trade after the strike. However, the total revenue frcm all sources for the ten months ended 3lßt Tanuary showed an increase of £240,051. Despite the decrease in Customs for ten months of £136,829, tiie increase in revenue for ten months on railways was £131,885. In stamps there was an increase of £34,000 on last year, post and telegraphs showed an increase of £30.879. and land tax an increase of £24,127. There had been an increase in every item except Customs, marine and other receipts. Marine showed a drop ! of £1330, and other receipts; of £533. The position of the war expenses^ account on January 31st was: Beceipts. Treasury bills £1,700,000. contributions, etc. £197,449, total £1,897,549. The expediture amounted to £903,424, leaving a balance of £994.025, The balance was represented by rash £213,529, advances outstanding in the Dominion £373,688, advances outstanding in London £406,---817. These Treasury bills were now paid off by the loan which had been raised, with the Imperial loan, at> a rate which cost New Zealand a trifle under 4 per cent. A further £300,000 was available out of war loan. v