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FINANCES.
FOUR MONTHS DEFICIT,
£2,478,000.
DRIFT IN THE RAILWAYS.
For the four months of tlio current
financial year the Victorian revenue was
£2,47S,55S /short of the revenue, there
being a dcdlino of £1,463,005 in October
as the result of a general account shortage
of £533,785, railway shortage of £723,410
and Stnte coal -mine deficit of £27,3S1. In
an explanation of the figures, whieh were
issued, yesterday, the Treasury pointed
out 'that the shortage was £71,212 more
than oh 31st October last year, due to the
railways position being £142,407 worse.
But this was offset by an improvement
in the general account of £05,150 and in
the State coal mine of £6045. The pay
ment to the national debt sinking fund
was £-110.000 more than for the same
period of last year. There was a decline
in the revenue for the four months of
£231,371 compared "with last year, but
expenditure was curtailed by £160,359.
Exclusive of special funds, revenue was
£00,111 more tlniu iast year, and expendi
ture whs £101,323 greater.
The four months' collections of income
tax was £280,703, and unemployment tax
£284,927, but there is £539,000 in a sus
pense account awaiting allocation to these
funds. Land tax yielded £72,012, probata
£334,375, and other 'taxation £442,520.
Country water supply revenue was
£52,117, against £40,000 Inst year, and
departmental receipts £114,045, against
£94,000 last year. The total revenue of
the general -account was £2,554,701, and
expenditure £4,151,035, leaving a shortage
of £1,580,334, of which £927,752 occurred
in October on a revenue of only £033, 7S5.
The expenditure in this account for the
four months included £1,030,100 for
salaries, &e., £1,008,402 for interest
(£,U1S,000 li|st year), exchange £214,110
(£242,090 last year), contributions to the
national debt sinking fund £150,000, uud
pensiuns £4)4,932,
The railways income for the lour mouths
was £2,738,331, compared with £2,308,000
last year, and lor October £723,440. The
lour months' shortage was £801,440, .of
which £531,000 occurred in Ocluber. The
four months' expenditure was £3,029,780,
including working expenses £2,023,029,
pensions £120,040, interest £1,314,454, and
exchange £109,051. The October expendi
ture wus £1,254,512, including £472,404
for working expenses. The State coal
inine income for four months was
£82'007. and the working exiwnses
£S3,385, while for1, October the figures
were £27,381 and £32,4fl8 respectively.
The short-term debt on 30th October
was £14,037,090, including £7,945,000 iu
Australia aud £0,092,000 iu Loudon.
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