The Taranaki Hearld. PUBLISHED DAILY. WEDNESDAY, MARCH 12, 1890.

Taranaki Herald, Volume XXXIX, Issue 8726, 12 March 1890, Page 2

The Taranaki Hearld. PUBLISHED DAILY. WEDNESDAY, MARCH 12, 1890.

The Ministers, it is said, have been expecting that the financial year would show a large surplus in tho revenue, and that next session they would be able to come down with a Budget full of good things, realised, and if a surplus is Bhown it will Unfortunately, the hope will not be be a very small one.' This is owing to several causes. The Customs, for instance, with its^ high tariff, has. restricted importation. The land laws have prevented any large business being done in private land, and consequently the transfer feeß do not come to a largei amount than usual. The railway returns, it is true, have Bhown g steady increase, und if they went into the Twwsry without doduotwD, tta lurplw ,

might turn out to be not only substantial, but handsome; but the Railway Commissioners step in, and say that it is a maxim of railway management everywhere and under all circumstances that if good returns are to bo had, the rolling stock must be kept in a high stato of efficiency. A good deal of the rolling stock on New Zealand railways requires renewal. It must, according to expert opinion, be renewed this year. The re nowal will absorb a \eiy considerable portion of the revenue. The cost cannot come froir any source but railway revenue, neither can it go into the Treasury books, being a matter that begins and ends with the Commissioners. They will write off so much for depreciation and spend so much for renewal of stock, and will hand over the balance to the Treasurer. Thus the surplus that would look so handsome in the sight of Parliament and the Government will not get ho far. lint then it will be a surplus nevertheless, and Ministers will have to bo satisfied with what they get.