8.—6.

1908. NEW ZEALAND.

FINANCIAL STATEMENT (In Committee of Supply, 7th July, 1908) BY THE MINISTER OF FINANCE, THE RIGHT HON. SIR J. G. WARD, P. C., K.C.M.G.

Mr. McKenzte, — The presentation of my Financial Statement this year is indeed a very pleasant duty, and I have again to congratulate the Committee and the country on the continued prosperity which we are enjoying. The progress which has characterized the Dominion since the Liberal party came into power in 1891 still continues. I took an early opportunity after the 31st March last to make the results of the year known to the country, and it was a great source of satisfaction to me to be able to announce that we had, after transferring £800,000 to the Public Works Fund, closed the year's accounts with a substantial credit balance of £767,849. The revenue for the year, as you are already aware, reached the sum of nine millions—a result that must be regarded as highly satisfactory, and emphatically demonstrating the progress of the Dominion. As the "Public Accounts for the year have been published, honourable members have no doubt made themselves acquainted with the figures. It is only necessary, therefore, for me to comment briefly on the various accounts before dealing with the proposals for the coming year. I purpose in this Statement to adhere principally to finance or matters closely allied therewith, and therefore I will not weary honourable members with details which will be found in departmental reports. EEVENUB. The revenue for the year just closed reached the record sum of £9,055,946, exceeding that of the previous year by £656,871. Every class of revenue, with one exception, has contributed to this splendid result: Customs show an increase of £162,525; Eailways, £143,999 ; and Stamps, £185,207. Compared with the previous year the details are as follows : — 1907-8. 1906-7. Increase. Decrease. £ £ £ £ Customs 3,103,565 2,941,040 162,525 Eailways 2,765,395 2,621,396 143,999 Stamps 1,550,934 1,365,727 185,207 Land-tax 537,846 447,342 90,504 Income-tax 304,905. 277,867 27,038 Beer duty 113,973 107,582 6,391 Registration and other fees 129,166 119,444 9,722 Marine 42,217 40,891 1,326 Miscellaneous 218,342 226,885 ... 8,543 Territorial revenue ... 289,603 250,901 38,702 665,414 8,543 8,543 Totals ... £9,055,946 £8,399,075 £656,871

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