THE DOMINION'S FINANOEB.

Wanganui Herald, Volume XXXXII, Issue 12381, 4 February 1908, Page 4

THE DOMINION'S FINANOEB.

Rxfbbbihg to the finances of the Dominion the Premier stated at Auckland yesterday that the revenue returns for the ten months ending on Friday last show an increase of over half a million — £521,877 — on the similar period ending January 31st, 1907. The estimated revenue for the year in the Budget was set down at .£8,200,000, and of this sum .£6,944,718 has been feceived in the 10 months, leaving but jei.255,282 to, be raised during the, next two month* to reach the Treasurer's estimate. That that estimate* will be greatly exceeded goes without question. If we take the average monthly receipts for the past 10 months we find they work out at w£631,337, and provided this/, average only is maintained for the next two months the Treasurer's estimate will be reached. There is reason to believe, however, that the receipts for the next two months will be much above the average for the past 10 months. Last year the receipts for the last two months of the financial year totalled £1,976,234, and if the receipts for February and March of this year work out equal to last year's figures, the increase for the 12-monthly period- will exceed the Treasurer's estimate by over .£700,000. The Premier is very hopeful of these results being obtained. In the course of an interview at Wellington the other day Sir Joseph Ward said he felt justified in predicting that the revenue for the current quarter would be equal to the amount received for the March quarter of last year, and this would give a total revenue at the end of the year of £8,880,116, or an increase of £680,116, but he was pretty confident that at the end of the year the increase will be even greater than that, probably £70,000 or £80,000 more. And so far as the surplus is concerned, Sir Joseph has predicted that in April next it will reach the record of a million. Satisfactory indeed are the figures, which bear eloquent testimony to the progress and prosperity of the Dominion, justifying the fullest confidence in the future of New Zealand. There are unmistakeable signs ' of activity and prosperity all over the Dominion, a fact which the Premier has frequently alluded to. "Ten or Welve miles out of Wellington building operations are going on, and in the city and suburbs the same activity is noticeable," he remarked the other day. In Auckland recently he found just the same thing occurring, and in Invercargill a few days ago he was struck with similar activity. In Dunedin he observed a large warehouse going up, and the Bank of Australasia and the New Zealand Express Company were erecting fine brick buildings. Round about Dunedin, in every direction, building was going on, and splendid suburban houses were among the new additions. At Timaru, Ashburton, and Oamaru he saw the same thing. "You have only to look at a gathering of people in any portion of the country," he continued, "and you will find all well-dressed, and this is now quite a characteristic feature of the people of the Dominion, and has been for a number of years. If they go to a gathering of sports or races they have money to spend,

and are spending it. When you look into the avenues which are ii-eding the revenue of the country you see the indications that account for this extraordinary revenue." Ho proceeded that he was not over-paint-ing it when he said that the country was in a remarkably satisfactory financial position. It fully justified the confidence the people generally had in the Dominion. It also emphasised what he had said in a general way -before, viz. — that never in the history of the country — at least during his private life — had they been upon such a solid baais as to-day. From information he had received, there was no cause for the fear that some' people had expressed as to the tightness of the money market. There waß no scarcity of money in the Dominion, and, in addition, he had for some weeks received information from high and influential quarters in the .Old Country that they did not expect, even in the face of American financial troubles, that money would continue to be tight or dear in London for any length of time. His advice was that after March 31st it was expected money would be plentiful, and that they rates of interest would be very much lower than now. "Trade is good," concluded Sir Joseph Ward, "and the financial position of the country is good. There we have it ! We have all the money for the services of the country, and have had for some time. In my opinion there is nothing whatever to justify people in attempting to create a contrary impression, though I am as cognisant as anyone of the importance of the Government of a country looking ahead and exercising carefulness. And that policy has been steadily pursued by the Government as far as the financial requirements and the position of the Dominion itself are concerned."