FINANCIAL STATEMENT.

Tuapeka Times, Volume III, Issue 119, 19 May 1870, Page 6

FINANCIAL STATEMENT.

The financial statement was discussed by Mr. M'INDOE. He believed the estimate for land sales, which was put down at £136,000, was far in excess of what was likely to be realized. The reason why the estimate for land sales had not been realised was simply that the Government had deliberately locked up the land, and placed the key of it in their coffers. Had they adopted the course which common sense dictated, they would have placed as much land as they could in the market under the Act in force. . The fact of so little revenue having been received from land sales during the past year was ■sufficient reason why the Council should not place much confidence in the estimate for the current year. Another reason was that the land laws were now in precisely the same position as they were at the beginning of the last financial year; and it was quite possible that the General Assembly might take up the same attitude towards the Council as the Council had assumed towards it ; and refuse to amend the Act until it had been put into operation and defects proved to exist. If the Assembly adopted such a course, the Government would not have an acre of land to sell, and would be compelled to call a special session of the Council to get the resolutions passed last session rescinded. Mr. DUNCAN replied to Mr. M'lndoe, after which the House went into