Finance—Public & Private
The Nation's Balance Sheet
IF it were possible to measure the general financial and economic condition of the country by the figures of the National Balance Sheet there would be much in the present position which could be described as wholly encouraging. Despite the conditions of world depression, the National Accounts for the first half of the current fiscal year, which terminates on March 31st next, must be regarded as satisfactory. For the first quarter of the year the Revenue had shown a shrinkage of over £6,000,000, but for the second quarter ended on Sep- tember 30th there was an expansion of over £11,000,000, making a total rise for the six months of over £.5,000,000, whereas the Chancellor reckoned for a shrinkage at the end of the year of over £4,000,000.
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