THE DOMINION'S FINANCES.

Wanganui Herald, Volume XXXXIII, Issue 12584, 3 October 1908, Page 5

THE DOMINION'S FINANCES.

The Half-Yearly Revenue. important Statement by the Prime. Minister. (From Our Parliamentary Special. — By Telegraph). WELLINGTON, October 1. To-night the Prime Minister made a statement regarding the financial results of the last six months. The period has, he said, been a most satisfactory one. The total amount of revenue received has been £3,829,641. Comparing this . with the corresponding period of last year; the results have been eminently satisfactory, notwithstanding the large concessions made in Customs and in taxation, all of which have been in full operations in the period named. In 1907 the revenue was £3,829,304 for the six months, so the increase works out at £337. This is a small increase, but a very significant one from the point of view that all the reductions were in operation, and at a time when it had been expected by some that there would have been a large shrinkage in revenue, due to a fall in the prices of some of the staple products. Happily this had not k occurred. The Premier then gave the following statement of revenue for the 12 months ended September 30th, 1908, and for the corresponding period ended September 30th, 1907:— Customs, 1908, £2,963,632, 1907 £3,131,280, June nil, December £167,648; stamps, including post and telegraph receipts, £1,601,481, £1,459,261, and £14,220; land and income tax, £84,994, £72,521, and £123,782; beer duty, £117,665, £110,125, and £7540; railways, £2,842,976, £2,178,257, and £2,164,739; registration and other fees, £120,824, £115,036, and £5788; marine, £43,417, £41,430, and £1967; miscellaneous, £234,090, £214,328, June £1976; territorial, £283,184, £270,861, and £1232; total, £9,056,283, £8,745,810, a net increase of £310,473.

He al6o gave the following statement for the six months ended September 30th, 1908, with comparisons for the similar period in 1907: — Customs, 1907, .£1,404,361, 1908, ,£1,544,314 ; a decrease of .£139,933; stamps, .£690,548 and .£718,511, an increase of =250,547; land and income tax .£29,104 and .£14,851, an increase of £6243 ; beer duty, .£51,639 and .£47,947, an increase of railways, .£1,292,631 and £1,215,0*9, an increase of £47,691; regis Itration and other fees,' . £51,300 and £59,641, a decrease of £8341; marine, £20,499 and $19,299, an increase of £1200; miscellaneousY\£loß,497 and £92,749, an increase of £15,748; territorial revenue, £110,542 and £116,962, a decrease of £6420; total in 1908, £3,829,641; total in 1907, £3,829,384, a total increase of £387. In regard to the decreases he called attention to the fact that in the Customs it was the result of the tariff reductions made last session. In the ''registration and other fees" the decrease was the result of ' the abolition of the sheep tax. The reduction in the territorial revenue was due to the national endowments. Reasons could therefore be seen for the reductions in every instance. During the six months of the present financial year just ended loaiis amounting to £1,333,488 fell due. Of this sum £1,1:36,050 carried interest at the rate of 4 per cent, and £197,438 interest at 3£ per cent. Of the total "amount £1,255,438 debentures were renewed and £78,050 redeemed by the issue of new stock. Of the amount renewed £8883,400, which formerly carried 4 per cent, interest waß renewed at 3% per cent. — a direct saving in Interest of £4417. The balance was renewed at interest on the same terms as formerly. Thus the financial, mercantile, and all classes interested would realise that notwithstanding any tightness that had been experienced in the money market exceedingly satisfactory operations connected with the renewal of our loans have been completed during the last six mdnths. He thought he was justified in saying that the result of the operations for the half year, which was generally the w^rst half of the, year, should inspire a feeling of confidence and satisfaction.

Those who are- Nervous, Sleepiest, or Fagged Out will find that a small glass of Ferro-Stout Morning, Noon, and Night, will Improve the Digestion, Brace Up the Nerves, bring Refreshing Sleep, and Build up the Constitution.