New Zealand, under its late Prime Minister, Sir George Grey,
does not seem to have kept its accounts very prudently. The new Administration of Mr. Hall has stated, through its able 'Treasurer, Mr. Atkinson, that not only was there a deficit last year,—a deficit of 2393,939, if you measure the incomings of the year against its outgoings, and a deficit of 2131,834, even after reducing that deficit by the surplus which stood over from the previous year,—but that at present there bids fair to be a deficit of about 2911,090 for the current year, unless consider.. able reductions in expenditure and additions to revenue can be achieved. The revenue estimated by the late Government was 23,442,000, which Mr. Atkinson regards as over- estimated by 2248,100. In other words, he expects under the present financial arrangements to realise only 23,193,900 Against this, the expenditure estimated by the late Government amounted to 23,974,000, leaving a deficiency of 2780,100, to which the deficiency of the last year (2131,834) must be added. Thus the total deficiency would come to 2911,934,—or a defici- encyof more than a quarter of the estimated revenue. It would be hard for any Prime Minister to leave affairs in a greater mess than Sir George Grey. No wonder he has abdicated the leader- ship of his party in. Opposition. It is not pleasant to have to apologise for such a muddle as that.
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