PUBLISHED DAILY. WEDNESDAY, APRIL 16, 1890.

Taranaki Herald, Volume XXXIX, Issue 8754, 16 April 1890, Page 2

PUBLISHED DAILY. WEDNESDAY, APRIL 16, 1890.

AccoiiDi.Ni; to a telegram elsewhere, the Government semi-officially announces that there -will bo a surplus of over £112,000 ; in fact the " inspired " journal of Wellington states that it will be £110,000, but the editor says the Premier docs not like to admit positively that it will reach that sum. The surplus is not made up from the Customs, that is certain. We are told it is from the Stamp Departtuent, and other outside sources, that the amount is made up. The colonial debt is set down (in round numbers) as £37,000,000, which represents an interest charged upon the colony of £1,646,318, and £220,270 for sinking fund. A point is made by stating that this latter sum is " virtually borrowed every year" in aid of revenue. From the tenor of the articlo in tho New Zealand Times it would appear that the deficiency bills are matters of account upon which the liability may be simply contingent, and mean nothing definite unless definitely explained ; but as the railways of the colony have realised three per cent, upon the cost of construction, viz., £400,000 that means a release oi" £10,000,000 of the actual interest-bearing indebtedness of the colony, for which the New Zealand taxpayer will not have to provide this year. If the railways had realised four per cent., that would have released in the same way tho whole £14,000,000 which they cost, but the short statement is that the taxpayer is relieved of the obligation to pay interest on £10,000,000. Four per cent., the net profit on the railways, being upwards of £400,000 ; virtually, therefore, the taxpayer has to provide tho interest only for £27,000,000 instead of £37,000,000. It is claimed that the increase of profit on railways from 2\ to 3 per cent is a relief to the taxpayer of about £4,000,000 more. A further relief could be shown iv the working of the telegraph and postal departments, but it has not been calculated There is little doubt this will be made apparent when tho Treasurer delivers his Financial Statement next session.