The New Zealand Times. (PUBLISHED DAILY.) WEDNESDAY, AUGUST 7, 1878.

New Zealand Times, Volume XXXIII, Issue 5417, 7 August 1878, Page 2

The New Zealand Times. (PUBLISHED DAILY.) WEDNESDAY, AUGUST 7, 1878.

The Colonial Treasurer made his Financial Statement last night. We have reprinted the document in exlenso, only omitting the voluminous tables which are intended to illustrate it. The grand total o£ receipts from all sources during the past year, including £123,1X0 7s. 9d., tho realised surplus of tho year preceding, was £1,445,580 ss. Gd. The receipts under the principal heads of revenue have exceeded the estimates. On Customs the excess is £72,901 ; stamps, £27,008. Railways have not come up to the estimate; tho deficiency is £53,991. The railway profit for the year, that is, the excess of receipts and expenditure, is £145,153, as against £84,182 last year. The Land Revenue, which is the largest ever beforecollectedin one year, amounted to £1,586,502, being £696,037 in excess of tlxo estimate. The total net increase from all sources above the , receipts of the preceding year was £1,080,141., The expenditure of the year wss £3,909,240 17s. Id., and after making provision for liabilities there is a surplus ' for ... the. , , financial year 4877-78 amounting to £120,408 13s. 2d. Of this, surplus £IOO,OOO is proposed to be carried to credit of the Public Works Account, and the balance to the Ordinary Account for this year. The loan of three and a-half millions at 5 per cent, was sold at par. The not indebtedness of the colony on the 30th dune last was £20,900,118 13s. lid. . The total estimated revenue for the current year, including balance of surplus, is £4,282,505 13s. 2d.; the estimated expenditure,'£4,l93,so9 Bs. Cd. ■ The proposed reform of tho tariff consists in imposing fixed duties on certain articles under twenty headings upon which *d valorem duty is now levied, and in tho remission of duties altogether on certain articles now included under thirtyeight headings. One halfpenny per pound of duty is to be taken off sugar ; two pence per pound off tea. Tho duty on light Australian wines is to bo reduced from four to two shillings per gallon. Champagne is to pay six instead of four shillings, and there is to bo an excise of three halfpence per gallon on colonial beer. There is to bo a land tax'of one halfpenny in the pound on tho market value, deducting improvements; all landed property under £SOO in value being exempt. Joint stock companies are to pay three ponce in the pound on their not annual profits. Wo have indicated in the briefest fashion the principal, points in this Statement. It deserves careful consideration, loss because, of, tho magnitude of the fiscal changes which it proposes to effect than, of tho principles upon .which the proposals ano based. . It may be said of

it generally that it is a loyal if a weak and halting attempt to ’ give effect to pledges which, although recklessly and imprudently made, could nut.be altogether ‘ignored. ' -

Pressure on our space compels, us to hold oyer a leading article and other matter. ; The Hon. Mr.Balhnce delivered his Financial Statement on the • ru-as*embllug of; the Hon.se of. Representatives at half-past seven o’clock last evening. Tho Jadius’ * gallery was filled to repletion, and the strangers* an 1 Speaker's galleries’ were',also crowded. When the hon. gentleman rose for the purpose of laying hia Statement before the House he was loudly cheered by all sides of the House.

Amongst..the proposals-of the Government set forth in the Financial Stateinent is one for the imposition of an income ttx of 3d. in the £ on the net profits of all joint stock companies carrying on business in New Zealand. 'At yesterday’s afternoon sitting of the House of Representatives, an Imprest Supply Bill for the siim'of £25i>,000,’ for the payment of salaries, wages and contingencies for the year ending 30th June, 1373, was passed through all its stages. Beer drinkers and brewers may take an interest in learning that the Government propose to levy a ,beer tax of three .halfpence a gallon. Some surprise was expressed in the Legislative Council yesterday that the Government had been able to carry on so long without money. The Colonial Secretary explained, in reply to Mr. Hall, that the Government had managed during the month with tho £IOO,OOO margin which they, were allowed. No large payments to contractors or others had fal on due during the mouth, which was an exceptional one in that respect; so tho requirements of the Government were confined to the payment of salaries, and this they had been able to do with the £lou,ooo. The Honorable Mr. Pox will move to-day for a return of all advertisements published by the Government during the year terminating Ist July, 1878, inviting tenders from publishers of newspapers’for tho insertion of Government advertisements and notices ; of all tenders sent in, fJ reply to such advertisements, and giving the rates tendered ; and showing any tenders, and their rates, not accepted. Also, a return of all insertions of advertisements or notices in any newspaper by authority of any; Government-officer, without tenders having been publicly invited. When in committee on tho Fraudulent Debtors’ Bill yesterday Hr. Swanson advocated the total abolition, of imprisonment for debt, leaving people who gave credit to take their chance, Mr. Bowen expressed an almost identical opinion, believing th.it it would lead to a sounder system of credit, as people would only trust those who they expected would pay. Debts would then become debts of honor, and debts of honor, as was well known, were generally paid. A meeting of the Wellington Literary Association was held last evening in St. John’s schoolroom, Mr. R, Gardner in the chair. A number of readings and recitations were given in fair stylo by the members present. Next Tuesday the oft-discussed question as to whether women should have greater social and political privileges afforded them than they have at present will be discussed ; and it is hoped that the lady friends of the members will take advantage of the privilege afforded them of hearing- the arguments on a question in which they are so deeply interested. -

Last evening the St. Peter’s Church Choir, assisted by friends who kindly volunteered their services, gave an excellent concert at the schoolroom, Ghuzoee-stroet. There was a good attendance, and the affair was a very successful one. • .

A meeting of the Bishop’s residence fund committee was held yesterday, when some further subscriptions were reported, and it was resolved to have ready to lay before the next meeting an organised plan for a thorough canvas of the city in aid of the object in view.

A voung man named David Brown was found drowned in the Pahautanui River on Monday afternoon last. It.appears that he was paddling about in a canoe, which capsized. A coroner's inquest will probably be held to-day, A .man named -Benjamin Slaney has been arrested on warrant oil th-j charge of stealing painters’ material at Lyttelton, to which place he will probably be despatched by the first opportunity,to answer the chargepreferredagaiust him.

It is the intention of the Government to acquire the land included in the Hot Spring? districts at Rotomahana and Rotorua for the benefit of the public, not only of this colony; but of the world.

Sergeant Donnelly will be a passenger by the Manawatu, from Wanganui, which is due this morning. The sergeant is in charge of two female lunatics, who are being brought to the Wellington Asylum. “Professor Fraser” delivered a lecture afcthe Athenaeum Hall last night on phrenology. There was a'very'fair attendance,’and the lecturer was listened to attentively by the majority of those present. ‘ The Hon. Hr. Reynolds, introduced by Sir Dillon Bell and Mr. Holmes, took the oath and his seat in the Legislative Council yesterday.

The brig’’Jane was sold yesterday, at Hr. G. Thomas’s auction mart, to-MT. : John Macintosh for-£IOOO. ■

At a meeting of the Kauvavra school committee on Monday evening Mr.''Evans was provisionally appointed schoolmaster. The Government intend to introduce a short Bill into the Legislative Council in a few days to amend certain defects in the Counties Act, There will be a sitting of the supreme Court in banco this morning at 11 o’clock. Cable communication has been restored on the Port Darwin line.