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4.
the dollar was round about a shilling or less until the unexpected
rise last week.
One reason for this satisfactory position is the
excess of over 3 million over the original estimate of revenue.
As the Treasurer has pointed out land sales will have contributed
largely to this excess, while the placing of the liquor and
tobacco duties on a sterling basis in February last is estimated
to bring in about $900,000 in additional revenue by the end of the
year. There is in fact a plethora of money in the Colony which has resulted in what might almost be called a land boom, while,
as will be seen from the Treasurer's memorandum, there has been a
general review of fees and licences, the increases in which,
though small in themselves, amount in the aggregate to a
considerable improvement in the Revenue of the Colony.
The next most important factor in enabling us to
balance the Budget is the saving with the dollar at 1/- of about fourteen lakhs effected by converting half the salary of sterling paid officers at the artificial rate of $1 = 1/6d. Economies were
also effected in Other Charges and Special Expenditure. Public
Works Recurrent as curtailed, whilst the revised estimate for
Public Works extraordinary falls short of the original estimato
by three lakhs.
were
The position can I think not unreasonably be described as satisfactory. Admittedly we are not as prosperous as we should like, but we are able to pay our way without any serious
strain on the community. One of the chief contributors to this
happy state of affairs has been the sterling paid officer. saving of fourteen lakhs was effected by his foregoing, with
the
Tho
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