BUOYANT FINANCES.

Gisborne Times, Volume XXX, Issue 3571, 10 July 1912, Page 5

BUOYANT FINANCES.

THE PROSPERITY fOF THE DOMINION. HOW THE NEW TREASURER WILL BE SITUATED. “ON A MAGNIFICENT TICKET.” SO SAYS SIR JOSEPH YVARD. [PEB PBESS ASSOCIATION.] WELLINGTON, July 9. In the House of Representatives yesterday the Hon. A. M. Myers presented a statement showing the state of the country’s "finance as at 30th June, 1912. The balance on hand 31st March, 1912, was £807,276. Since the close' of the financial year the revenue was still increasing, as the following figures demonstrated:— Consolidated Revenue Act, balance 31st March, £807,275. Revenue from Ist April to 30th June;—

Ordinary £2,388.387. Territorial £29,696. National Endowment £59,413. Total £2,477,497. - Grand total £3,281,773. Expenditure : Permanent Appropriations £1,320, SIS. Total £2,502,226. Grand total £2,502,226. Balance at 30th June £782,546. It was a pleasure, he said, to point out that there had been no necessity to issue Treasury Bills this quarter. 'The Minister estimated the revenue for the present financial year at £ll,014,909, made up as follows : Customs £3,200,000. Railways £3,745,000. . ' Stamps £899,800. Post and Telegraph £1,141,000. Land Tax £650,000'. Income tax £450,000. Beer duty £119,000._ Registration £95,165. Marine £47,000. Miscellaneous £369,540. Territorials revenue, £240,000, Endowment revenue £59,415. The expenditure is estimated at £10,737,958, cbmpared with an actual expenditure of £10,340,368 during the last year. There will he increases of £158,357 in the permanent charges, and of £239,203 in the Departmental charges. The position at the end of the year is estimated as follows: Balance from last year £807,276. Estimated revenue £11,013,909. Total £11,822,185.. Estimated expenditure £10.737,958. Surplus £1,084,227.

From the latter amount must he deducted the amount to lie voted on supplementary estimates. This will allow a transfer of £BOO,OOO to the Public Works fund. They had every reason, the Minister said, to congratulate themselves upon the buoyant state of the affairs of the country. His successor would rejoice in a "satisfactory state of matters. He did not think it. would be necessary to go on the London market for some time. He regretted it had not been his privilege to present to the House a financial statement indicating a thoroughly satisfactory and flourishing condition existing in the country. Sir Joseph Ward rose to congratulate Mr Myers on the interesting news just presented by him. The satisfactory conditions should fill Mr Myers’ successor witli confidence. It was usual to harshly criticise the financial methods of the Liberal party. He would look forward to see what items would be reduced by their successor in office. The statement was indicative of the healthy prosperity of tire Dominion, and he would defy anyone to produce anything like such a state of affairs as that now existing in matters financial of the Dominion. He called attention to the fact that the incoming treasurer was starting on a “magnificent wicket.” He was certain they would find that altered political conditions would not deter some members from asking for a full supply for the backblocks. —The statement should enthuse the worst nessimist inside or outside the House. He congratulated the Minister especially in connection with the figures relative to the first rmarter of the veav.