The Financial Statement.

Manawatu Herald, 1 August 1895, Page 2

The Financial Statement.

.The Colonial Treasurer read the. Financial Statement to . the Committee of Supply on Tuesday evening. The actual receipts of revenue for tin year came- to £4,281,995 or £46,995 in excess of the estimate. Compared with "tho estimate the i actual expenditure was £83,487 under spent. Tho balance at the end of the year as shown in the account, represents the surplus-£1b0,024. On the 31st March there remained a balance of £268,525, less £'229;078 of liabilities on Part 1 of'the Public Works Fund. The balance of the loan-money, belonging to the North Island Main i Trunk railway stands at £12,507. Only a euin of £290 was to the credit o,f the Loans to Local Bodies Acc6ifnt 7 -at lh;o end 'of tha year. The sum .of £102,832 had 'been advanced dining' the past year. Tho principal fatura of the new consolidating Bill wiii be t'ha.6 the machinery to' carry out nil 'the steps required to obtain a loan will be embodied in it. £158,000 has been invested in the New Zealand Consols Account of which sum the Bank of New Zealand in-cribed £150,030. The gross Public Ddbt stood on the 31st March at £40,386,961, an increase rf £560,549, and the net Public Djbfc was £39,035,032, being an iricrc-asH of £7G0.541. The Land and Income Tax yielded £370,079 or £20,079 in exc.!S3 of iha estimate. The Department of Agriculture still continues the goad work commenced three y ais ago. During tho year the withdrawals exceeded ihe tlepisits in tho Post Office Savings Bank by £15,762 Is 5-1. The condition cf the Government LhVlnsiirance D .-partment continues t(i" afford every satisfaction. The funds -at the close of last year amounted to considerab'y over two and a quarter millions sterling. Th« business of the Pablic Trust Office continues to incivaso, the total numb'jr of all classes of estates was 2086, of the total estimated" capital vi.lue of £1,562.268. The loans undjr Advances to Settler 3 Act numbered 905 of the value ot £354,907. The outlook on tho golclfields of the Colony is very promising indeed. Mention is made to the proposed reciprocal tariffs with Souch Australia and Canada. In the Treasurer's opinion the present position of the Bank of New Zea'aud Estates Company id far from satisfactory. It is a subject sufficiently imporiaut to warrant the special consideration of a select committee of both Houses. A proposal to subsidise' the Canadian ' Pacific Mail Service wkb £20,000 ptfi- annum t'->r three y.ears witl.biMvndt 1 . Thy steanii-ra to call ut Auckland or AYiillm«!ion. To find fchi^subsidy it is proposed to* readjust the death duties. A sinking fund to pay off the Public Debt is suggested. - .lKr}& oß^go^ed, , rea ; d j u^t the lending r'aies of Governmeht de'part^ ments, and to take the necessary 3teps to relieva such local bodies as have funds provided from these institutions for carrying on their finances. . ; •;_■.* The total estimated expenditure is set down at £4,881,843 and the e?timaled revenue at £4y195,800. In submitting proposalia for a readjustment of the tarifify : -lbe remissions and concessions are calculated at £45,000 and : ~-the new impositions will bring in v £ 55,000 leaving a n^t iaorea'se to^e>revenuß of £10,000. -