THE PUBLIC REVENUE.

Gisborne Times, Volume V, Issue 109, 17 May 1901, Page 3

THE PUBLIC REVENUE.

CONSOLIDATED FUND. [By Telegraph—Press Association]. Wellington, last night. The Consolidated Fund Accounts for tiie year ended March 31st, 1901, appear in this week's Gazette. At the beginning of the year there was 1,579,305 cash in the Public Account. Adding to this the sum of L6D.986, the advances in the hands of officers of the Government, and the balance of L656,Q00 on Investment Account, and deducting L 700.000 for Treasury Bills outstanding, there was a balance at the beginning of the year of L 605.351. The ordinary revenue accruing to tiie Levenue Account amounted in tlio aggregate to L 5,582,502, an increase of something like L 200.000 on the same revenue for the previous year. This was contributed as follows : Customs ... ... .62,189,861 Stamps i including postal and telegraphic receipts) .£903,931 Land Tax... ... JE291.583 Income Tax ... .6173,808 Beer duty .685,170 Kail ways ... ... X 1,720,610 Registration an d ‘ other fees ... X’07,537 Marine X 29,550 1 Miscellaneous ... X 120,110 j None of these sources of revenue has shown a great difference on tiie figures for the previous year. Territorial revenues ! yield X'270,203 ; receipts in aid of tlio 1

.{.'52,800 debentures issued under the Dairy Industry Act, .£l7Bl ; recoveries in respect of unauthorised cost of previous year’s trade with South Africa, .£"L4IO.

The receipts for the year were accordingly LG,511,U 18. Tiie total expenditure for tiie year was L5,981,-181, inclusive of I. transferred to the public works account, in terms of the Appropriation Act of last, session. Permanent appropriations amounted 1,2,335,223. The only item under this head calling for remark is the Old Age Pensions appropriation of L 196,606. During the previous year this appropriation absorbed only J, 157,000. Tiie annual appropriations amounted to 1.8,111,179, an increase of 1.289,070 on the amount for tiie previous year. The appropriations for working the railways and defence account for a great part of tiiis increase, the former having increased bv 1,105,000 and the latter by 1,01,000.

The proceeds of the issue of debentures worth 1,1751 under the Dairy Industry Act appear on tiie expenditure side of tiie account in the form of advances to dairy companies. The surplus of L582,56-i, which was announced a week or two ago, is made up as follows Cush in the L’ublie Account ... X‘52,988 Advances in hands of Government officers 109,020 Dalunce on Investment Account 000,090 Total X! ,282,561 Less Treasury Dills outstund-

700,000

Surplus ... ... ... .£532,56! The credit of the State forest account lias been increased during the year from 1/23,7(15 to 1.31.825. In tiie account of local bodies there is - also an increase of credit, the amount now being 1,11.027. The lodgments during the year, amounting to L 186,187, included I/'11,003 from tlio Imperial Government for South African contingents and L 117,773 for the purchase of oats. The credit of tiie public works account lias increased from L 109,719 to L 232.515. Receipts under the Aid to Public Works and Land Settlement Act amounted to LI,-100,000, us compared with L 015,000 for the previous year. On tiie other side the usual appropriations lmvc increased from 1,901,759 to L 1,307,511, this being due in a great measure to an increase of LOOIMIOO in appropriation for railways. Tiie Cheviot Estate Accounts shows a balance of HI,OBO. in the Lands for Settlement Account debentures for the purchase of estates realised 1.219,000, and receipts from estates 1,72,781. The sum of L18G,621 was expended in tiie purchase of estates, including LI 11.018 for the Ilatuma Estate, and L 15,750 for Lyndon (Mcssts A. and D. Maefarlane’s Estate). Expenses amounted to L 9882, and there is now a balance on the account of 1,93,310, ns against 1,53,389 for the previous year. ' On both sides of tiie conversion account appears the item 1,509,000 01 per cent, consolidated stuck debentures, issued in exchange for debentures under tlio Government Loans to Local llodics’ Act of 1880, which fell due on 3.lst December last. Minor items on both sides of the account leave a balance of 1,3,887. On consols account deposits amounting to L1T,902 were inscribed, and there is a cash and investment balance of L-159,389. Tlio loans to local bodies account shows that L 170.000 worth of debentures wero issued during the year. The expenditure included grants amounting to —L-11,611 to Counties, L 18.495 to Load Boards, and LIO.OOO to Liver Boards under the Act of 1880, and LIS, 100 to Boroughs under the Act- of 1898. An appropriation of L 37.300 was made for roads to open up Crown lands, and there is a balancciof 1,27,972. The Advances to SMeiers Office loan account shows that L 350.009 was paid the office ■m the strength of the creation of L 210.000 worth of 3 per cent. - stock, and a temporary advance of 1,110,000 on tiie security of short-dated debentures. Debentures amounting to 1,2000 were created under the Government Accident Insurance Act of 1899, and handed to tiie Commissioner. The Bank of New Zealand account discloses that 1,500,000 worth of preferred share certiorates were re-purchased by the Bank, and the amount handed to the Public Trustee. Coming to separate accounts, tiie Treasury Bills Account stands at .£700,000. i As at the beginning of the previous year, in anticipation of revenue, ,6370,000 worth of bills were issued, and in the renewal of matured bills of .6700,000, the aceouiM is credited with a similar amount for bills paid oil aud renewed during tiie year.