The Waikato Times MONDAY, . DECEMBER 3, 1934. "national improvement.

Waikato Times, Volume 116, Issue 19430, 3 December 1934, Page 6

The Waikato Times MONDAY, . DECEMBER 3, 1934. "national improvement.

Continued improvement is being shown in the / the of the Dominion, according to a statement made as of Prime Minister, Mr Forbes. The revenue position at t October has more than realised the expectations of the ’ and compared with the corresponding period o - - has been substantial progress during the past seven mon

The upward trend which was evident in the , at commencement of the present financial year as * co amQunted The total revenue received to Octobe to £11,935,000, as compared with £9,312,000 for the sa “® pe l last year, an increase of £2,623,000. Of this increase no less than £1,500,000, is directly attributable to an incieased toms taxation, and notwithstanding certain reductions. 1 duties, practically every item showed a consideia e mci

One of the surest signs of returning prosperity is an incijase in the yield from taxation. In view of the fact tha taxation was unaltered, the state- of business an e . earning capacity of the people have shown a considerable imp ment. In any case there are plentiful signs at the present time that money is not only circulating more freely, u a 1 circulating in much greater quantities than it ivas a year or "" ago. In face of the doubts and difficulties which still lie ahead of the primary industries, particularly the dairying industiy, i is no easy to understand the visible symptoms of returning con tenee. Nevertheless, the people of the Dominion are, by their own efforts, definitely bringing about their own salvation. ± long action has been taken somewhat belatedly, it is now having i s effect. Considerable disappointment will he felt at the break-down of the negotiations for a trade treaty with Australia. Unfortunately, however, political influence was the determining factor. Two things, the pressure of the Tasmanian potato-growers upon the Prime Minister, himself a Tasmanian, and the entry of the Country Party with its rigid opposition to the entry of any form of primaly pioduce into the Commonwealth, provided an actual, though of course not an official, harrier to the successful conclusion of an agreement.

On the expenditure side of the national accounts the position is very healthy. As is to he expected, the expenditure to date is in excess of the revenue, but this merely follows the normal budgetary course. The period of greatest receipts and diminishing expenditure is yet to come. Debt services have accounted for a substantial proportion of the money already expended, hut in this connection the amount paid is practically equal to the total of. the outgoings for the year. Departmental expenditure, listed under the annual appropriations, is well within the limits set, and there is every prospect that the last five months of the year will see this item still further reduced. The surplus, which is now assured, should he even greater than was anticipated in the Budget.