THE FINANCIAL POSITION OF THE COLONY.

Globe, Volume XXII, Issue 1877, 28 February 1880, Page 2

THE FINANCIAL POSITION OF THE COLONY.

£Br Telegraph.] rpßOil OUB. OWN COBBESPONDENT.] WELLINGTON, February 27. A comparative statement has just been issued of the estimated and actual receipts and expenditure for the current financial year. The estimated receipts for the nine months ending 31st March, 1880, were as follows : Customs, £950,000; stamps, £125,000: land tax, £117,300; railways, £675]000; postal, £101,200; telegraphic, £60,000 ; judicial, £36,000 ; land and deeds, £27,000; registration and other fees, £25,500.

marine, £16,600; miscellaneous, £31,900 land sales, £186,000; depasturing licenses £60,700; total, £2,445,200. The actual receipts during the six month ending 31fit December, 1879, were as follows, omitting shillings and pence:—Customs, £587,092; stampß, £62,491; land tax, £33,4*5 ; railways, £318.446 ; postal, £67,269 ; telegraphic, £35,366 ; judicial, £26 502 ; land and deeds, £17,591; registration and other fees, £16,598; marine, £10,763; land sales, £62,444; depasturing licenses, £45.390; miscellaneous, £22,682; total, £1,306,067. ~ . From these figures it will be seen that Customs have to bring in £362,927 in the current quarter to realise the estimate, and seeing that they only averaged ±-2SM,Sdo during the last two quarters, it does not seem probable that so large a deficiency will wholly be made up before the 31st prox. The™" * •way revenue, whioh only averaged *"»■**£*?* last two quarters, yet has to yield £35b,554 in the current quarter for the Treasurer's estimate to be reached. A heavy deficit in this item is therefore inevitable. The land sales show a falling off of fully 50 per cent, as compared with the estimate, and a very heavy deficiency is certain in this respect also. Stamps are about 30 per cent, behind the estimated mark, but the other sources of revenue have come up very closely to expectation. The total revenue for the six months, however, being only £1,306,067, whereas that for the nine months was estimated at £2,445,200, the ourrent quarter must produce £1,139,133, or very nearly as much as the two previous quarters, for the estimates to be attained, which of course is not in the remotest degree probable. Turning to the expenditure, the estimates for the nine months were as follows—Oivil List, £22,488; interest and sinking fund, £1,036,930 ; permanent appropriations under special Acts of the Legislature, £351,201; Colonial Secretary's department, £207,113 ; treasury, £24,977; justice, £101,262; post and telegraphic, £207,658; customs, £83,463, stamps, £20,359; education, £206,313 ; native, £SO 294; lands and mines, £149.680; public works, £531,758; defence, £146,030. Total, 3,139,539. The actual expenditure for six months was—Civil List, £12,972 ; interest and sinking fund, £615,741 J; permanent appropriations under special Acts of the Legislature, £170,532; Colonial Secretary's department, £157,838; treasury, £24,901; justioe, £66,009 ; postal and telegraphic, £113,750; customs, £54,278; stamps, £13,775 ; education, £119,959 ; Native, £26,329; lands and mines, £72,177; publio works, £319,793 ; defence, £81,023 ; unauthorised, £658; total, £1,849,742; to which must be added the deficit of the previous year, £131,824. The expenditure is being steadily kept down, and hardly in any case equals the estimate. The average expenditure for the two last quarters was £924,871, leaving £1,289,797 as the expenditure whioh must take place during the current quarter for the amount to equal the Treasurer's estimate.