FEDERAL BUDGET.

Timaru Herald, Volume XIIC, Issue 13978, 13 August 1909, Page 5

FEDERAL BUDGET.

ESTIMATED STIORTAGI*:. Press Associat.ion-By Telegraph-Copyright Received 0.15 p.m., August 12th. 'MELBOURNE, August 12. Sir John Forrest delivered the Federal Bli.dget to-day" The total revenue for the year was £]4,340,535, a decrease of £071.800. Customs excise yielded £10,843,085, a decrease of £801,3(37; the post .office, £3,400,000, an increase of £IOB.OI I. The expenditure was £0,410,301, and the balance handed back to the States £7,030,471. For the current year the revenue is estimated at £14,555,000.. Customs excise is set down at £10.800.000, and post office at £3,550^000. The estimated expenditure is £7,807.021, and the amount to be handed to the States £7,801,480. These figures show an estimated shortage for the current year of £1,200,000. The Government propose to ask for parliamentary authority to raise this amount by the issue of short-dated bonds spread over fontyears commencing in 1012. It is considered that the estimated deficit is merely a temporary shortage of funds.

ESTIMATES FOR THE YEAR. SCHEME OE DEFENCE. Received 10.20 p.m., August 12th. MELBOURNE, August 12. The defence estimates for the current year total £1,535,000, an increase of .£024,000. The principal- increases are —£'12,000 for a cordite factory, £42,000 for a small arms factory, £52,53G for guns, mountings, and ammunition. Sir John Forrest .stated that the Defence liill would provide for physical training of all schoolboys from the age of 12 to 14, and from 14 to manhood lor elementary -military training.

In connection with wireless telegraphy it is proposed to make £'lo,ooo availahle for connecting np the Pacific Islands, and over £250,000 is provided for now : telegraphs and "telephones, and a similar sum for ihe two following years, at the end of which it is expected that the servi.-e will he in thorough good order. The sum of £1,500.000 is available '.'or old age pensions fur the current year, and it is expected that this will he sufficient,' hut in future £250,000 more will he required. Anomalies in the tariff are to he considered. Sir John Forrest declared that hut for the near approach of the end 'of the Rraddou clause decade, new taxation would- he imperative.

THE NAVAL GIFT. "Received 1 a.m., August lat li. MELROI'R.NE, August 12. Sir .John Forrest threw out a suggestion that the States should refund (;(>;059,000 they had received .during the seven years over Ihe statutory three-fourths they wcvr entitled to. lie strongly commended the oiler of a Dreadnought or its equivalent'to liritaiii. Healing'with the question of where the money was coming from. Sir John Forrest declared that revenue was available for such demands, and 'that it "was sufficient for this and all other chlinis arising in the future. Mem'be'rs would he fully'-informed of the mi'ans' to be adopted to provide additional 'funds for any purpose.