N.S.W. BUDGET.

Waikato Argus, Volume IX, Issue 772, 5 October 1900, Page 2

N.S.W. BUDGET.

fUNITED PRESS ASSOCIATION.] (BY ELECTRIC TELEGRAPH—COPYRIGHT.) (Received October 5, 11 p.m). Sydney, October 4. Mr Lyne delivered what is probably the last Financial Statement before federation occurs. To cover the whole deficit of the colony by Treasury Bills, it is proposed to ask the House to authorise the issue of £831,000 worth, meeting the incurred balance. Comparing the actual results of last years' operations, the revenue showed an increase of £440,000, but the expenditure last year was larger than anticipated. As some irritation was caused in London by the death duties under the Companies Act, it is proposed to introduce an amending Bill to make the measure more acceptable, while retaining the duties. The plague cost the colony £84,451, which not only affected the accounts last year, but also influenced the finances of the present year to 30th June. The expenditure on troops in South Africa was £ 157,984, and there will also be a large expenditure this year under the same head as the expenditure was calculated on a basis of six mouths' service, which is already greatly exceeded. Excluding the exceptional items of items of plague and war, the expenditure for the year was £10,098,000 and the receipts £10.268,000, leaving a credit balance of of £169,000, which is carried to the deficiency account. In view of the receut report of the Finance Commissioners the Audit Act is amended in the direction of separating the consolidated revenue and trust accounts, the latter to be placed under a Board of Trustees with the Treasurer as Chairman. The Post Office Savings Bank will bo removed from the control of the Postmaster and be placed under the same Board. The cost of the China Contingent was £15,000. ;