Financial Situation
In 1953 the territory recorded a budgetary surplus along with the Yukon. The inflow of cash came from government controlled liquor that netted over $150,000 to the treasury along with over $260,000 in federally collected taxes being returned to the territory. Other contributing sources were a 1 cent per gallon tax on all petroleum products, a fur export tax and various licensing fees.
Read more about this topic: 1st Northwest Territories Legislative Council
Famous quotes containing the words financial situation, financial and/or situation:
“A theory of the middle class: that it is not to be determined by its financial situation but rather by its relation to government. That is, one could shade down from an actual ruling or governing class to a class hopelessly out of relation to government, thinking of gov’t as beyond its control, of itself as wholly controlled by gov’t. Somewhere in between and in gradations is the group that has the sense that gov’t exists for it, and shapes its consciousness accordingly.”
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