Tonga Turns The Corner
p. 25 · Read in the full issue
The Benefit of Carefully-Planned Budgets
From Our Own Correspondent
Nukualofa, Nov. 20.
r "PHAT Tonga has definitely turned its * back on “old man Depression” is disclosed by the annual statement of the Tongan Treasurer for the year ended June 30, 1937, published in the October Government Gazette , No. 21. The King dom’s finance is now in a more healthy state than it has been for some time, as the following figures show:
There was a surplus of £17 534 for 1936- 37, the total expenditure being £55,937.
This shows how carefully the budget had been planned and balanced.
Tonga’s trade for the six months ended June 3b amounted to £163,825, as com pared with £101,488 for the corresponding period of 1936. The high ruling price of copra was responsible for this increase.
However, banana exports to New Zealand were 2,795 cases below the quota—due to the considerable damage done to the crops by the February hurricane.
Customs revenue on imports for the period amounted to £10,905, which was £3,991 in excess of the corresponding period of 1936.
Revenue
From
Taxes
Customs Native Other Total f £ £ £ 1932-33 22,458 11,673 29,941 64,072 1933-34 20,181 9,437 25,125 54.743 1934-35 ™ 21,823 13,823 26,007 61,653 1935-36 25.710 13,401 27.548 66,659 1936-37 ... 32,696 13,620 27,155 73,471
Imports
and exports were as follows: 1936 1937 Imports £42,897 £66.063 Exports £58,591 £97.762 Total £101,488 £163,825 The two main exports (copra and bananas) compared as follows: — 1936 1937 Copra ... 5,941 tons 6,706 tons (£53,142) (£94.792) Bananas ... 17,078 cases 9,462 cases (£4,848) (£2,822)