PROVINCIAL COUNCIL.

Evening Star, Issue 3519, 3 June 1874, Page 3

PROVINCIAL COUNCIL.

Wednesday, June 3. i*he financial statemnt. The House having gone into Committee of Supply, the Provincial Treasurer delivered bu statement. He premised by expressing his regret that he had not been able, as he at first expected, to deliver the statement within a week after the Council assembling, but circumstances, which it was unnecessary he should now explain, had prevented him doing so until the present time. The illness of the Sub-Treasurer, who had recently resigned, had rendered the bringing out ef the balance-sheet a somewhat tedious and difficult matter. It now showed a discrepancy of 24s 6d which would be adjusted before the Council rose; but in the meantime the statement might bo taken as substantially correct, and sufficient to guide the Committee. Then turning to revenue, estimated and actual, he pointed out that the returns from the sale of Crown lands bad been 143,000 more than estimated, the increase being principally from the sale of lands in Southland, large purchases having been made just before the rising of the last session of the Council, when it was expected proposals .would have been made for raising the price of land one-focth. He believed the revenue from this source would have been much larger , if the Hundreds last session had been proclaimed when the Government intended they should be ; but full information on that point had already been laid before the Council. .Sheep assessment returned an excess of 14,000. It was more than possible that the runs, if assessed, would be found to return a hivher rental than they now yielded, because they were not now stocked quite up to their carrying capacity. The matter would receive the attention of the Executive, and if it was considered conducive to the interest of the Province that an assessment should be made, the Government would endeavor to move the Waste Land Board accordingly. Jt was expected that there would have been a considerable falling off in gold export duty, owing to tbe reduction in the rate from 2s 6d to 2s, but he was pleased to See the reduction had not been so. much, 117,504 having been realised, as against L 20.431 the previous year ; and L 16.000 estimated. Gol (fields revenue on the other hand had fallen short of the previous year, and the amount estimated by L 2.6.0. which he accounted for on the assumption that high wages in other industries had temporarily drawn away part of the goldfields’ popula- ‘ tion from mining operations. Repayments ■ had bronghtout what was expected, except in the item of passages owing by immigrants.: The late Government made an effort to en- - deavor to collect some of the m ney owing to the Province, but without effect. A large number of replies to the applications made for repayment were now in the hands of the Government awaiting consideration, some of the debtors offering to compromise for a portion of the amounts owing, and it would be the duty of the Executive to deal with the various cases in such a way as to do justice to the public without pressing too hardly oh those not in : a position to pay. The receipts from railways showed a deficiency of about 14,000, arising only from the Port Chalmers line. After ref rring to the sale of reclaimed land and tbe North Otago loan, he said last year L20,0W0 was proposed to be , sorrowed on the security of the Education reserves, for erecting and extending sclio-il buildings; but the Committee preferred . Voting the amount out of the revenue,’ and therefore the loan was not applied for. To meet the demands this year for school buildings an additional Would be needed. About 112,50,0 of the L2Q.000 voted last year had been spent, and ft further vqte of L2Q,Q(JQ woqld be asked It would ha a question whether, in view of such a large expenditure, the Committee should not consider the question of borrowing a port.on of what would amount to ov«s L 50,000 for new schools and additions to othpr building*. Referring to the expend!tore of the past year, he said there was approprirtsd for 1873-4 1707,914, of which LI 11,000; was for works to be paid for in land. The late Ixecutive, how- ■ P ver > considered that in view of the increased yalue which land had acquired during tbe past year, and the necessity that there exists for husbanding as much as possible the Crown lands with the view of inducing settlement, decided in accepting the contracts for the branch railways authorised last session, to do so on a cash basis, and provision would have to be made for them in this year’s appropriations. The actual . expenditure was 1416,238. Some items of importance had not been required. Hi,ooo for interest on the Port railway. In hrfrim? for this sum last year, he was not fully aware how matters stood in regard to railways. Under the Immigration and Public Works Apt, 1870, section 4, part 1, and section 10, part 2, an amount of L 400.000 was . aside out of the loan as a railway fund for the Middle Island, Otago’s share of that grant was, 1870-1, 145,487 ; 1871-2, 142.910, and 1873-4, 143.695 In addition to this, by section 23 of the same -Act an eighth of the revenue of the Province derived from stamps was allotted to the Province for railway purposes. At present, therefore, after paying for the Dunedin and Port Railway, there was a sum available of 168,5,60. Then there was 110,000 for immigration, of which only L 2,000 had been nsed, and moat . of that' would probably be repaid by the General Government. After explaining the balancesheet, he drew the attention of the committee to the Government’s proposals for the current year. The revenue was estimated at 1421,597 from ordinary sources, including roadjboards subsidy, to which was to be added 129,235 under North Otago 10an... The main source- of revenue was, of coarse, from Crown lands, and it Vfas difficult to calculate with any degree of certainty as to the amount, as sales, to a great extent, were regulated by circumstances outside the control of the Government. Considering the large quantity of land that ©pen during the year in Hundreds and blocks on deferred and cash payments, and seeing, farther, when lands were again open for sale in Southland considerable quantities would be taken up at 205,the estimate given was reasonable. The sheep had been increased to 165,000 (exclusive of amount from education reserves), chiefly on account of the sums receivable from the rents of the Wakatip and Tuapeka runs recently sold. If decided tp have an assessment during the year, the revenue from this source would probably be further augmented. The other items need not be referred to. There was available for appropriation—balance from last year—lß3,49o ; estimated ordinary avenue, L 421.597 ; total, L 505,087. recfJ Government proposed to appropriate 1552,184. In addition to this, there were *“ e engagements on account of branch railways, but, from the best information at their disposal, they believed, however ener getmally the works might be prosecuted, the Government would not be callednpon tu pay during the financial year more than 160,000. which would, however, appatently be unprovided lor. After very careful consideration they had arrived at the conclusion not to ask the Council this session to sanction the sale of any blocks oi land, under the 150 th section of the Waste Lands Act. It was proposed to apply to the Assembly for a fresh loan of L6GO OGO bn The security of specific blocks of land for the purpose of constructing the branch rail-

ways already authorised and to be authorised. There should be no difficulty in getting such loan, as the question of constructing branch railways in places where they were likely to pay was one which the Colonial Legislature should look upon favor ably, as they would bring a large amount of valuab’e traffic to the main lines. Should the loan not be granted, the Government did not anticipate any financial difficulty in providing the necessary funds to carry on the works till the Council meet again, when the question of raising funds could be freely discussed. However much works were pushed on there would always necessarily be a very considerable amount which could not be spent and considerable balances remaining in the Treasury at the close of the financial year. Even were such not the case, the Province would find no difficulty in obtaining such accommodation as would prevent any stoppage of the works authorised. If it was possible to put off larve sales «f land until the branch railways were constructed, there could be no doubt the value of the lands would be much enhanced, and a great deal more be made out of them either by sale or lease. If money could bo b rrowed on satisfactory .terms for the construction of the works until the pastoral leases fell in, then the necessity for selling would be greatly diminished. When the leases fell in, the lands, if re-let in suitable and moderate-sized lots, and for shorter terms, they would not only bring in a very handsome annual revenue, but the settlement of a large number of very valuable colonists on lands at present occupied by a few. He concluded by expressing a hope that the finances of the Province would be considered satisfactory. The appropriations were necessarily large. The other Provinces were making such strides and taking advantage of the present flourishing condition of the country to push on railways, harbor works, immigration, new industries, &«,, calculated to promote the material prosperity of the country and the work of colonisation, that Otago could not stand still. This Province must prudently yet boldly go forward and endeavor to maintain in the race of progress among the other Provinces the position which its great resources had placed it in. RESIGNATION OF THE SPEAKER. The Speaker has intimated to the Provincial Council that in consequence of remarks upon a previous ruling, made by Mr Heid, he has written to his Honor resigning his office of Speaker.