* * * * A DECLINING REVENUE.
The figures of the National Revenue for the first nine months of the current fiscal year are not very encouraging, though they just about fulfil market expectations. Briefly stated, Mr. Winston Churchill estimated for a decline in the Revenue for the whole year of 212,000,000, but for the first nine months there is already a falling off of over 216,000,000. Moreover, the actual deficit for the first nine months of 1170,000,000 is something like 232,000,000 worse than at this time last year. - However, much may happen during the final quarter of the year, and it must be hoped that either by an increase in the Revenue or by savings in Expenditure, or, perhaps, by both, a better position may be reached by March 31st than is indicated by the figures up to date.
A. W. K.