SHIPPING INTELLIGENCE.

Auckland Star, Volume VI, Issue 1704, 4 August 1875, Page 4

SHIPPING INTELLIGENCE.

s ) 5 th is !e c I c t c a c 5 I a l £ the ab<yvo onissws oi wuias, waa ; — £ s. d. Eoads 032,740 12 0 Railways 3,991,421 14 2 "Water races 214 GBS 16 5 Total £4,835,857 2 7 THE LIABILITIES on these respective works were, at the same date:— £ s d. Koads 22.132 2 7 Railways 1620,365 5 10 Water-races 137.072 6 1 Total £1,780,670 14 6 The total of expenditure and liabilities was £6,619,427 17s M. The greater portion of the expenditure of the labilities above mentioned, together with the amount of the new service?, will be distributed over a period of two years. Now, sir, with the working of these short lines before us, I think there is No Room for any Gloomy Forebodings as to the financial success of fche railway system adopted by the colony. Even at present the easy aDd certain communication the railways afford has greatly assisted settlement in the country districts, and as the lines in course of completion open up country hither! o cut off from a market by reason of cost or difficulty in communicating therewith. If further evidence of the probable paying results of our railway expenditure should be needed, I ask the House to turn to the table appended hereto, as reprinted from the annual report of the Commissioner of Railways in Victoria for the year 1874. I have hod that table reprinted, because I think it; is calculated to ins-pire great; confidence in the minds of hon. members. lb shews th-vfc in the year 1574 there were open in the colony of Victoria 441 miles of railway, the total cost of which was £11,557,484, the average cost per mile was £26,207, the gross receipts from all sources were £851,042, the working expenses were £374,715, and net income £476..327, being interest at the rate of 4h per cent, on the total capital. Now, sir, we in New Zea'and shall have 991 miles of railway ior the toUal cost of £6.091,981, or at the rate of about £6000 per mile. After making full allowance for difference in the population of the two colonies, aad the extra expense incurred in working by our having three or four great centres of traffic instead of one, as in Victoria. I cannot but think that hon. members will agree with me in believing that the comparative difference in cost, which Is more than at the rate of £2,000 per mile in favour of New Zealand, leaves such a margin as will insure very satisfactory results to the railways in this colony.