THE FINANCIAL POSITION.

Manawatu Herald, Volume II, Issue 7, 16 September 1879, Page 2

THE FINANCIAL POSITION.

» From the printed tables which accompanied the brief financial statement made by Sir George Grey, acting Colonial Treasurer, on August 7, we learn that the net indebtedness of the Colony on June 80 ? was £21,518,803 14s sd. The annual charge for interest is £1,083,943 6s 3d, and for sinking fund £116,176. Our debts are therefore an annual charge upon the revenue of £1,200,119 6s 3d. During the financial year ended June 30, 1879, the actual gross ordinary revenue of the Consolidated Fimd amounted to £2,777,868, 18s 2d, being £248,656 12s 2d in excess of the estimate. The only items which were less than estimated were, Eegistration and other fees, £4,689 4s; Miscellaneous, £1,748 15s. If we deduct these two amounts, the total increase over estimated revenue is £242,223 13s 2d. The whole of the other items showed a surprising increase upon the amount estimated. The following table shows the estimated and actual revenue, and the souWe whence derived : —

Turning to the estimated and actual expenditure during the same period, we find an equally satisfactory state of finance, being far less than was estimated. The items we shall refer to are the Annual Appropriations. Of these there were only three in which the expenditure exceeded the estimate. They were as follows : —

If we deduct from this amount the sum of £5,767 16s 7d for the three services which we have shown exceeded the estimate, it will be seen the actual expenditure during the financial year was £244,052 9s lid less than was estimated.

£ s. d. Customs 05 7 10 Native 3,501 15 7 Railways 2,111 13 2 /* ~ 6,767 16 7 The whole of the other depart* ments of the public service show a great saving, the expenditure being far less than the estimate. The following figures show the amount expended less than the estimate : — -■' £ b. a. Public Departments ... 25.299 6 3 law and Justfoe ...'>" ■ ... 1,798 16 7 Postal and Telegraphio 13,353 4 4 Murine 5,493 14 9 Education 815 15 1 Militia and Volunteers... 2,323 1 4 ConHtabulary... ... ... 6.351 3 4 Public Domains and Buildings 7,603 7 6 Crown Lands, Survey,&c. 55,038 13 5 Miscellaneous 52,878 9 9 Provinoial Liabilities ... 78,864 14 2 £249.820 6 6

Estimated. Actual. Customs .. .. £1,253,600 £1,309.151 Stamps .. .. 170,000 205,473 P.ailways .. .. 710,000 812,626 Postal .. .. 121,500 129,755 Telegraphic .. 76,000 105,301 Judicial .. .. 50,000 53,341 Land and Deeds 32,500 44,620 Registration, &c. 32,74-5 28,055 Marine .. .. 22.400 24.277 Miscellaneous -.. 67,000 65,256 Totals £2,535,645 £2,777,864