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Daily Telegraph (Napier), Issue 4090, 30 August 1884, Page 2

The Liverpool Journal of Commerce of a recent date has a leading article on the prosperity of Now Zealand, and while it is in the nature of some people to think that tho colony is " going to the dogs," it may bo as well to present a picture of ourselves as we appear to others. The total public debt of the colony, consisting of debentures and treasury bills in circulation, and advances, stood on December 31st, 1883, at £30,225,711. The Government railways opened up to March 31st, 1883, were 1370 miles, at a cost of £10,478,998. Tho revenue for the year was £953,347, and the expenditure £360,525, which was equal to £3 3s 2d per cent, on tho gross outlay on lines opened and under construction, and to £3 8s lOd per cent, on the cost of the lines in working. In addition to the Government railways there were ninety-one miles of private lines open for traffic. The average liabilities of the banks within the colony were £10,015,373, and the assets £17,102,23-1, The deposits paid into tho Post-office Savings Banks within the year amounted to £1,325,852, aud tho cash paid in exceeded the withdrawals by £183,253. Bearing in mind the class capable of saving this money, we have a good tost of the prosperity of the colonists. The total revenue of the colony was £3,917,160, and tho expenditure £3,501,9-10. We have seen later statements which purport to give an increase in revenue, but we deal with official statistics only. The value of the exports was £6,658,008, and the imports £8,609,270. Tho value of the gold exported in 1881 was £1,080,796, and in 1882 the entry is £1,002,720, presenting a decreaso of £78,070. The wool exported in 1882 weighed 04,402,712 lbs. In addition to tho exports there were retained for consumption in local woollen mills 2,200,000 lbs. Among her exports the mines yielded £933,927; the fisheries, £5,693; the forests, £393,906 ;' animals and their produce, £3,601,727 ; agricultural products, £1,140,834 ; and colonial manufactures, to the value of £90,628. Tho aggregate revenue of the 24 New Zealand Harbor Boards was £184,294, of which the Government contributed £17,465. The expenditure on tho harbors amounted to £332,651, but of this sum no less than £228,238 was expended on public works. The outstanding loans of the Harbor Boards wero £1,508,900, the rates of interest varying from 5-j to 7 per cent. A young colony like New Zealand has to improve her harbors and make roads, and this cannot be effected without resorting to borrowing. New Zealand is certain to be as densely populated as England, and the expenditure now is like seed sown for a summer harvest. The British " Young England " is making great progress, and with gold, coal, and wool, and a rich soil slip is bound to become a maritime power.