THE FINANCIAL STATEMENT.

Cromwell Argus, Volume III, Issue 133, 28 May 1872, Page 7

THE FINANCIAL STATEMENT.

The following i 3 a greatly condensed re- j v;t of Mr Reid's Financial Statement, de- i rered in Committee of the House on Friday ! ping, May 17. We have had, of course, : omit mum interesting nutter; but have tampted to give our readers as extended a ; e.vof the financial position of the Province ' passible.—Addressing t'.ie Chairman of pmniittee, Mr Reid said : Mr Thomson, Sir, it "now devolves on me I make the usual annual st itement expl ma-; ry of the results of last year's financial ope- ■ itions, and of the proposals for the present pr. It becomes our duty on such an occaitaasthis, carefully t > review the past, as it only by comparing the past with the pro-! at that we are enabled to determine what ir position is, what prog-ess-we have made ! •or to forecast with any degree of accuracy tat we are likely to accomplish in the future, id thus avoid the error of forming too s inline an estimate of our position on the one aid, or taking too desponding a view of our 'ospeets on the other. I am glad to be able state that in many respects our Provincial ceipts contrast favourably with those of I rarer years, affording a gratifying proof of ■i elasticity and stability of our resources, id, to a certain extent, making my task on is occasion an easier one than it otherwise raid be. It will be remembered thai when e Estimates of last year were under consiration a large deficiency, amounting to 97,5*8 18s 9d, had to be provided for ; and tli if view to reduce that deficiency, and to lieve the Province from the charge of intest thereon, the Council empowered the G >- umrent to sell (on exceptional terms) one or ore blocks of land. In compliance with e desire of the Council, a sale in one block 44,005 acres 2 perches has been effected, id it will he gratifying to the Committee to low that in disposing of so large an extent land for revenue purposes, only a very nited area fitted for agricultural settlement « been alienated.—(Hear, hear.) It is now rpleasing duty to inform the Committee jit the liabilities of the Province have been weed during the year by a sum of L.52,92;) 9d, and this has been 'effected in the face a considerable reduction in the sums confuted to the Province from the Consolifed Revenue. In framing any estimates revenue under the present circumstances the Colony, the Provincial Treasurer is in a very embarrassing position, as it impossible to determine with any degree of nainty, to what extent his estimates may ! realised, or how far the action of the Co'llil Legislature mav interfere to upset his culations. With this uncertainty as to our a ucial position before us, it is worthy of whether it would not be better 7 ld °ur annual meetings after the meetings Assembly.-(Hear, hear.) Such a course uld be attended with this advantage, that should then he in a position to estimate «J the sums which would be re"JWe from the Consolidated Revenue dur--6 the year. 1 h ave pre p ar ed a statement C? T ws thcre has been a gradual reducun the sums annually contributed t» the the Consolidated Rovcnuo-

that whereas wo received in 1367-3 the large sum of L.81,359 12s lid, the sum has been gradually reduced, until, during the last year, we received only L.13,7;W la Bd. Honourable members will see that the purely Provincial Revenues have, in every instance of importance, been realised, and, in many cases, been exceeded. We find, with the exception of the estimates under the Payments to Provinces Act, which are very much below the amount estimated, that when we come to what may be termed purely Provincial Revenue, the excesses are as follows : On Crown Lands, L.15,927 5s 7d ; Gold-fields Revenue, L.1709 Is 9d ; Gold Export Duty, L.2107 3s lid ; Tolls on Roads, L.1122 8s 7d. I think these figures afford a gratifying proof that the general prosperity of the Province has not been at a standstill during the past year, but, on the contrary, has been steadily increasing.—(Hear, hear.) I have also had prepared a statement showing the revenue received in 1870-1 and 1871-2. This statement also shows that not only have our receipts during the past year exceeded our Estimates, but that they have exceeded the receipts of the preceding years. The total result, as shown by the statement, is revenue L.219,308 10s 3d, a sum realised from de posit account, L.30Q0, —making a total revenue of £292,308 16s 3d ; against a total I expenditure of L.239,388 7s Gd ; leaving a balance of L. 52,921) 8s 9d, which, as 1 have already explained, has gone to reduce the deficiency of last year. We have now done with the past and its comparisons, and I will proceed to consider our position and prospects in regard to the future. Before proceeding to the consideration of the provisions for ! the current year, I wish to explain what we propose to do in regard to the local administrative bodies, (Municipal Councils,) which are established in the different centres of population throughout the Province. The Government are of opinion that no fairer I plan can be adopted, nor any which is more likely to prove permanent in its operation, than that of securing to each Municipality its own local revenues ; in return for which it is not unreasonable to require that they should maintain the main roads within their respective boundaries. The following statement shows approximately the sums which will accrue to each Municipality from these fees, and also the sums expended on main roads in each during the past yeir : Licenses Expended Balance in Received on Main favour of 1871-2 Roads Miufijipality £ s. £ s. £ s. Dunedia ... 312S 0 533 0 25.)) 0 ] vwkstmry... 80 0 7<) 0 10 0 Isfihnerston ... 101) () 72 0 23 0 Oamaru ... 411 0 127 0 331 0 Balolutha ... 140 10 9 0 131 li) j Lawrence .. 271 10 12 0 259 10 \ Rivertuu ... 170 0 2) 0 150 0 Clyde .. 205 0 30 0 255 0 I Cromwell ... 23) 0 20 0 210 0 Qaeenstowu... 2tS5 10 30 0 235 10 Alexin Ira ... 250 10 25 0 225 10 Port Chalmers 10) 10 3) 0 13 5 10 Milton ... 2;r> I ) 43 0 !S8 10 | Gsfsl 1) 1071 0 ">!.') 10 j It willbe admitted that this is a veai i f jubilee for the Municipalities. We hj ive here the sum of L.5193 10s, which, if ■•!•■ proposals are acceded to, will be returned to those bodies. I now proceed to st ice the proposed expenditure for the 1372-3, which is as follows:—Superintendent and Executive, L.3310; Provincial Conned, L.3405) 4s ; ' Treasury, L.1140; Polio, L. 13,229 ; Har- j hour Department, L,5593 ; Gaols, L.85 )~) ; i Sheep Inspectors, L 1373; Education, L. 18,833 j lis 81; High School, L.33112s 3d ; Hospitals and Lunatic Asylum, L.9317 ; Collection I of Tolls, hj 1330 ; Industrial Schools, L. 1953 ; j Miscellaneous, L.1215 16s 8 t ; Crown Lands '■ and Survey, Gold-fields, R »ad Department, and General Road Board, L. 19,531 0s 4d ; | Railways, L.5394 12s ; Lotus, L.33,315 5s ; Steam Service, L 2125; Home Agencv, L.1590; j Immigration, L.o ))); Grants in Aid and Mis- j 'cellanoous, L.25,712 4sl0;l; Pavmentsto General Government, L.23,003 ; Refund of Li- [ cense Fees to Municipalities, L.7000 ; Road Boards, Roads, Works and Buildings, Railways, Bridges, Jetties, and Harbours, L.7G,785. The expenditure for the year, then, will be L.281,332 lis 9d ; on works for : which payments will be made in land, L.33,755 ; making a total of L.815,087 Us j 01. I shall now proceed to give the details ; of the estimated revenue of the current year, and compare these with the estimates and rej ceipts of last year. We estimate Crown . Lands at L.7o,ol)o —the estimate last year j being L.83,0J0, and the receipts L.95,027 5s 7d ; Assessment on Stock, L.57,0 >0 —the estimate last year being L. 08,000, and the rei ceipts, L5G,831 15s 4d. We estimate the j Gold-fields revenue at L.21,000 —the estimate last year was L. 18,00), and the receipts j L. 19,709 Is 9d. We estimate the Gold Export Duty at L.22,ooo —last year's estimate was L 20,000, and the receipts L.22,107 3s < lid ; Harbour and Tonnage Dues, L.2,500 j last year estimated at L.2,700, and the re- | ceipts were L.2,421 5s 3d. Tolls on roads we ; estimate at L. 12,500 ; estimate last year be- ! ing L. 11,000, and the receipts LI 2,122 8s 7d. ! We estimate Dog and Goat tax at L. 2000; esti- ! mated last year at L.3,300, andrealised L.2,793 j 7s Gd. Under the head of Licenses, we estij mate to receive this year L. 10,000; last year's 1 estimate was L. 15,000, and the receipts : L. 15,254 15s Bd. Under the head of School Fees, Rents, &c, we estimate to receive j L. 12,500 ; the estimate last year was L.4,000, i the receipts being L. 11,880 7s 6d. I need ; not trouble the Committee by referring to the j other items. I may state, however, with re- ! ference to the Estimate for Railways, we have ■ estimated this year to receive T. 8,000. Lust

year the estimate was L. 12,000, and the receipts L.6,656 8s 4d. We think this sum will be fully realised during the current year. Under the head of Sales of Reclaimed Land, we estimate our receipts at L. 10,000. Last year tho estimate was L.3,000, and the receipts L.829 10s lOd. Under the head of Jetty Dues, we estimate to receive L.3000, the same as last year, the receipts being L. 30-17 lis Id. Thus we have an estimated revenue of L.287,800, and a proposed expenditure of L.281,332 lis 9d. Although it is quite evident we cannot expend L.281,000 from a revenne of L. 267,000, I may be permitted to explain that is impossible during any one year to fully expend the votes placed on the Estimates. Moreover, w r e do not know what action may be taken by the General Assembly when it meets. It is possible that some little assistance may be still be rendered to the Province. In regard to the estimate of L. 70,000 from Crown Lands, I may state that we propose to ask the Council to agree to a resolution to open for sale, at 10s. per acre, tho unsold lands in Hundreds which have been in the market for seven years. . . . Unfortunately, it is not in the power of the Government to meet all the claims for consideration in the matter of public works, —many of them just and long-neglected,—which are made on it; but I think it will be recognised and conceded vhat in the proposals which have been submitted to the Committee, an earnest dosire is evinced to mete out equal justice to all parts of the Province, in so far as this can be accomplished with the means at our disposal. I think 1 may claim for the Government the initiation of a decentralising policy, not only of expenditure, but also of revenue. We have often heard of such a policy, but it has remained to this Government to place it before the Council. It rests with honourable members now to declare by their votes whether they are prepared to give it eileet. In taking all the circumstances into consideration, I think honourable members will agree in the opinion that the Statement I have made is as satisfactory as could have been expected, when we consider the large drain en our resources to provide for the pcrmaneni charges of the Colony. When we reflect that this Province, with a population of some '50,000 souls, contributes a sum of L.03,500 as interest and sinking fund on Colonial loans, and a further sum of L.81,332 5s on Provincial loans, making a total of L. 177,852 5s annually extracted from the Province, —equal to L.2 10s 9d per head of the population ; when we reflect that this large sun is absorbed in paying the burdens on past expenditure ; and when we remember that in addition to this wo contribute a large sum to the General Government expenditure, —:t appears to me that the cause for wonder is, not that we have so little, but that so much can be made available for our local requirements." The honourable member resumed his scat amid loud applause.