GENERAL GOVERNMENT REPAYMENTS.

Tuapeka Times, Volume V, Issue 229, 20 June 1872, Page 5

GENERAL GOVERNMENT REPAYMENTS.

We have been requested to publish the following :—: — Tbe Treasury, Wellington, June 1. Sir, — In the financial statement made by the Provincial Treasurer to the Provincial Council of Otago the remarks concerning the amoauts received from the General Government attracted my attention ; and they seemed to show so large a diminution of Provincial revenue as to make an explanation necessary. 1 referred the matter to the Paymaster-General, Mr Batkin, who has furnished me with the memorandum attached hereto. From the memorandum, you will see that the increasing amount of liability undertaken by the General Government on account of Provincial loans is the principal cause of the diminished receipts of the Province. When all the contributions made by the General Government — including | the defrayal of the bulk of the Provincial charges previously charged against the allowance receivable by the Province —are taken into account, I am of opinion that the receipts during the present year do not compare unfavorably with those of previous years. At any(rate, lam sure Mr Reid will recognise that a fuller explanation of the matter than he gave in his statement is necessary ; and I have no doubt he will have pleasure in affording it to the House. ' Ido not for a moment suppose that he intended to mislead the Council, Should the Provincial Council have ceased to be in session, perhaps your Honor will be good enough to cause this letter and the enclosure to be published. — I have, &c, Jtjlids Yogel. The Provincial Treasurer of Otago, in Mb financial statement, specifies as under the sums paid to that Province out of the consolidated revenues during the years 1867-68 to 1870-71, and calls the attention of the Council to the gradual diminution of the sums paid : — . Year. £ s. d. 1867-68 81,359 12 11 1868-69 58,340 2 ; 10, 1869-70 56,198 13 11 1870 71 33,703 18 1 The figures quoted for the first two years are taken Irom the Colonial Treasurer's annual account ; but I have been unable to verify the figures quoted for the last two years. The Treasury accounts show the f ol» lowing as the sums paid :—: — Year. £ s. d. 1867-68 81,359 12 11 1868-69 58,340 2 10 1869-70 48,488 5 1 1870-71 29,381 9 4 The Provincial Treasurer, in his remarks on tbe subject, ascribes the dimunition of the annual payments to " the encroachments of the General Government ;" but an analysis of the account shows that the annual reduction {of the sum payable into the Provincial chest has been owing to the annual increase of the sums chargeable against the Province for interest and sinking fund on its loans. ■< The following table exhibits the annual decrease under the one head and increase under the other, and shews likewise that over the whole period the diminution of revenue from other causes than the charge for interest and sinking fund, has amounted only to a little more than one thousand pounds (L 1075 8s 8d).

* Difference, £1,075 8s Bd. The sum payable to the Province for the present year will be (approximately) LI 7.445 4s lid, the amount being made up thus— £ s. d. £ s. d. Capitation grant 52,118 5 0 Koad Boards - 27,117 7 6 Stamp duties • 12,767 16 8 92,003 9 2 PROVINCIAL LIABILITIES. Provinc. charges 9,558 4 3 Interest and) 6g m Q Q . sinking fund \ "">"" 74,558 4 3 Estimated balance £17,445 411 As compared with the preceding year, the amount payable to the Province shews a decrease of LI 1,936 4s sd; but it will be remembered that there is an increase in the sum payable for interest and sinking fund of L 10,144 2s 4d, so that the total diminutioH for the present year, attributable to deductions for other purposes than interest and sinking fund on the Provincial loans, will amount to L 1792 2s Id. C. T. Batkin, Paymaster-General. Treasury, 31st May, 1872.

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