Financial Statement.

Kaikoura Star, Volume XIV, Issue 759, 27 July 1894, Page 4

Financial Statement.

The Financial Statement was delivered on Tuesday evening. Year’s receipts were £4,653,338, being £lO6, 338 in excess of estimate, and expenditure £76,188 less than anticipated. Gross public debt on March 31 was £30,826,415 —increase of £568,575 ; £477,466 by specially authorised debentures for settlement Acts, Cheviot Estate Purchase and Govt loans to local bodies. Proposed expenditure this year £4,301,098, being saving of £159,449 on last year’s estimates. Estimated receipts for 1894-95 is £4, 235,000, as against £4,262,000 for last year. Estimated surplus was £341,940, out of which it is proposed to take £250.000 for construction of public works. Private estates purchased amounted 85,475 acres, of which 73,159 acres leased in perpetuity for 21 years terms, 6498 acres sold for cash, 1032 acres reserves; not leased, 2066 acres ; unsold 2720 acres for roads, railways, etc ; total 85,475. Original cost of estate was £270,000 : works improvements £22,250 ; total £282,470. Deduct cash receipts £35,921, total £246,549. As land let is bringing in £13,339, Govt are receiving over 5 per cent on the £256,147, and still have to good some reserves and township sites. Proposed to ask for £250, 000 for purchase of private lands, and subdividing, reading and clearing them. Further £250,000 to be asked

for. Decided bring in Bill authorise local bodies to levy rates on Crown Lands which would yield about £lO, 000. Land in which Maories interested to be brought under land tax. System of taxing Banks will be altered with view bolding out inducements to Banks to bring noney into Colony for investment. Proposal to incite farmers to grow beet will be laid before House, bonus of £5,000 being offered. Coal industry will be encouraged by bonus of 2s per ton, to 500,000, if exported witbin 12 months from next October, to foreign markets beyond Australia. Fruit producers will be helped by cheap railway rates, also dairy farmers. Proposed to take authority to inscribe consols to amount £1,000,000 sterling. Savings will be received ana inscribed at par in sums of £5, and upwards. Interest will not be more than 4 per cent, payable half yearly. Legislation will be submitted to prevent any new Savings Bank form of machinery for absorption of existing ones. It is proposed to ask House to agree to raising, in London, £1,500,000 per annum to be advanced to settlers of this Colony on their freehold.