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OUR PRIME MINISTER.

AN ENTHUSIASTIC DEMONSTRATION.

NEW ZEALAND’S PROGRESS.

By Telegraph—Press Association. Wellington, last night. The demonstration held in tho Opera House last night in connection with Mr Seddon’s ten years of Premiership was attended by an enormous crowd of people, the building being packed in every part. Tho proceedings were most enthusiastic throughout, cheering and applause being frequent. The chair was occupied by Mr W. H. Quick, senior member of tho Bar of New Zealand. On the motion of Mr T. K. Macdonald, seconded by Dr Findlay, tho resolution and the address to the Premier, congratulating him on his achievements, were carried. The Premier, on rising to reply, received a great ovation. He reviewed the results of his ten years’ labors and the effects of the legislation passed in recent years, and then went on to announce the revenue results for the year just closed. The estimate for the year had been £6,026,000 ; the actual receipts were £6,386,609, and the excess of revenue over the estimate was £360,609. The result of the year’s operations was to leave a surplus of £303,905. This surplus was made up as follows : There was a balance last year of £270,489; of this amount £200,000 was transferred to the Public Works Fund., a f nd this left a balance of £70,489. The total receipts for the year were £6,447;435, and the total expenditure £6,204,019, the balance in favor of receipts being therefore

£233,416. This, added to the £70,489 left after deduction of £200,000 for public works, gave on March 31st the surplus of £303,905 he had referred to. . For 1893-94 Government started with a net surplus of £256,459. The surpluses in ten years had amounted in the net to £3,195,143, and in the gross to £3,769,419, Those who asserted that finance was a weakness of the Liberal party, ho would refer to these ten years’ surpluses, adding that so far as he could see there would be another surplus at the end of the current year. What had been kept from the people by the critics of Government finance was the fact that during these ten years Government had transferred to the Public Works fund for development purposes the sum of £3,175,000. Then as to the credit of the country. In 1893 our 4 per cents, stood at month the same securities, notwithstanding the depression of the money market, were at 107. In 1903 our 3j per cents were at 97j. Last month they were at 103. Then he quoted the following figures, showing increases under the headings mentioned in ten years from 1892 to 1902: —Population, besides Maoris, 157,45 fr; land in cultivation, 3,643,955 acres; land occupied, holdings, 22,266 acres ; railways open, 405 miles, receipts £792,5!6; exports of New Zealand produce, £4,932,731 ; imports, £4,383,667 ; bank deposits, average £4,861,116; savings banks, at credit £4,296,333 ; notes in circulation, £453,300; shipping, inwards, 413,956 tons ; coal out-

put, 689,387 tons ; gold output, 270.459 ounces, valued at £999,463. In referring to the land settlement, he said that the subdivision of large estates would have to proceed with greater rapidity in the future than in the past.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/GIST19030504.2.22

Bibliographic details
Ngā taipitopito pukapuka

Gisborne Times, Volume IX, Issue 881, 4 May 1903, Page 2

Word count
Tapeke kupu
518

OUR PRIME MINISTER. Gisborne Times, Volume IX, Issue 881, 4 May 1903, Page 2

OUR PRIME MINISTER. Gisborne Times, Volume IX, Issue 881, 4 May 1903, Page 2

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