WEALTH OF N.Z.

Star (Christchurch), Volume LXVI, Issue 20508, 9 January 1935, Page 7

WEALTH OF N.Z.

An Increase of Fifteen Millions. HEARTENING ESTIMATE. (Special to the “ Star.'*) WELLINGTON, This Day. One of the many valuable features in the well-presented mass of facts in the New Zealand Official Year Book is an estimate by the Government Statistician (Mr J. W. Butcher) of the public and private wealth of the Dominion. This year’s survey just published contains the heartening information that the private wealth of the country has increased since the previous vear’s survey to the extent of £15,000,000. In making the official estimates for the Year Book of 1934, the Statistician found a good clue to depreciated values of private wealth in the movement of share values, which had receded to the extent of 23 per cent compared with the values of standard stocks in December, 1932. This heavy depreciation has not continued for the movement in the better classes of securities has been very substantially upwards. Though the official survey of this y-ear contain? > no specific reference to this aspect, it jis quite evident that it has played a I part in the improvement of the total of private wealth now indicated, for the estimates of public wealth (less the loan obligations) remain as in the former statement. Public and Private Wealth. « The assets owned by the general Government are estimated to be worth £386,000,000. taking no account of any goodwill. Against this sum must be placed the liabilities, but following the Budget survey of the position the Statistician reaches the conclusion that the State show’s an excess of assets over liabilities .to the extent of nearly £57,000.000. Local bodies hold cash assets amounting to £10.646.000 and other assets worth over £67,000,000, while the hospital boards not included in those figures are w T orth about £5,000.000. The basis of calculation of private w*ealth in the Dominion is that of the estates passed for probate over a period of years. In the 1934 survey the net result shoum was that the total wealth in private hands equalled £4lO per head of the population, excluding Maoris, but the latest survey places the total at £420. w’hile if only the adult population is considered the individual total is £665 per head. Of the aggregate private wealth of £616,000,000 it is believed that £426.000,000 is held by men and £190,000,000 by women.