SPECIAL TELEGRAMS. TO THE "WAIKATO TIMES."

Waikato Times, Volume I, Issue 49, 22 August 1872, Page 2

SPECIAL TELEGRAMS. TO THE "WAIKATO TIMES."

AUCKLAND. Wednesday, 8 p.m. John Mason exhibited at Buckland's store to-day a new process of wool-washing. There were fifty people present to witness the experiment- He succscded in making dirty wool white in three minutes by keeping it in a certain liquid. He intends forming a wool-washing company, and estimates that tlm plant would cost L 15,000. The defence in the Green Harp case was opened to-day. It is expected the decision will be given tomorrow. The Sir Walter Scott Lodge of Free and Accepted Masons was consecrated to-day, at the Thames. It was a very grand affair. There will be a banquet this evening. A parade of Volunteers was held at the Thames this morning. Fifty-nine prizes were distributed amongst the best marksmen. The Industrial Exhibition was opened to-night. Numbers of visitors were present from Auckland. The Alhambra arrived at the Bluff. The .Bulwark is sife. She put into the Mauritius much damaged. The Victorian Assembly refused, to ratify the contract with Webb for the San Francisco Mail Service by a division of 39 to 15. Tenders are asked for the conduct of a mail service between Sydney and California, via Honolulu and Fiji. The ' Hero' has been admitted to practicque. Small pox h;i3 disappeared. Flour is selling in Melbourne at Ll6 5s to Ll6 10s, New Zealand wheat 7s, Victorian 7s 3d to 7s 6d, oats 3s 4d, Adelaide wheat firm at 5a lOd to 6s, flour Ll2 10s to Ll3 10s. The Treasury propose to issue Exchange Bills to carry on public works. The Sydney Parliament was prorogued to the 19th September. - . ... Hokitika. Prime beef 37s per 100 lbs," steers L 8; to r-L6, lean wethers from lis, ewes 8s 6d. .. .. Dunedin. Tolmie and J. C. Eichmond are nominated fo the vacant seat in -the Assembly for Caversham, the poll will take place on the 28th.

FINANCIAL STATEMENT, The Colonial Treasurer delivered- the | Jfrnancial*l3fcafcement 'lastf|ight. He commeriecd by remarking that' he had a moro agreeable fcask than that which"devolved j upon him Jast year, for ho had not now to j speak of deficiencies or pf impaired .j w-hon last session he revfewed th'ia. results of the .year 1870-71, he led the committee to understand that on the close of the ncconnts for thit year there would be a deficiency of £70,01?, together with £00,600 of- overdraft, making a total anticipated dificit £136,000; he was glad to say that the deficiency proved to be only £122,000, or : .£13,000 less than was anticipated; that j reduction being mainly owing to savings in r connection with the reserve fund. The House • authorised the issue of Treasury Bills for i £45,000 at one year's date and a like j amount at two years' dates partly to cover i the deficiency—tho balanco to come out of j current revenue—it would be found that the j current revenue of the past year hamper- j formed its part of the bargain, and provision would be made this year out of the revenue to meet the £45,000 treasury Bills due this year. With respect to tho loans £GG.OOO under the Wellington Debts Act had been negotiated in Sydney, at a clear nett premium of two per cent. He believed that that was the highest amount ever obtained by public negotiation for any of tho co'onies tures unguaranteed by the Imperial Government. The Government and Publ'.c Works Loan, £850,000 had been negotiated for defence and other purposes —loan £150,000 making together one million. That amount had been negotiated at homo at a premium of 4s 2d after deducting accrued interest which must be considered a very favourable

negociation ; inclusive of the £15 f >,ooo recently negotiated there had been raised under the defence and other purposes loans to the extent of £035,000, of which there were charged under the second schedule of the Act, To Auckland, £50,000; to Taranaki, .£0000; to Wellington, £17,000; and to Otago, 79,000. By turning to the second schedule of the Act hon. members would at once see the nature of the various payments under it; the total under this schedule would be £163,536,- Under schedule 1 there had been expended £295,550, together with £18,337 for discount and charges, makingtogether a total of £171,352, and leaving a balance of £158,000 available for expenditure ; of this £150,000 was in cash in London, £309 in cash in the Colony, and £7,900 under advance in the Colony on the Immigration and Public Works Loan. There had been altogether £1400,000 raised, to that sum was added £37,394, being a moiety of the stamp duties, making a total of £1,057,293. Of that sum £711,011 was oypended up to the 30th June last, leaving a balance of £925,034, of which £850,000 was in London on the 30th June ; £40,650 was in the colony in cash ; and £35,117 was under advances. The items of expenditure under the Immigration and Public Works Loan were interest and sinking fund, £29,000, departmental expenses, £24,000, roads in North Island £12,000, railways £241,000, water supply £2000, purchase of land in tho North Island £49,000, immigration, £42,000, I telegraph, £58,000- coal mines, £500, pay- J ments to lload Boards and Provinces i j £100,000, Greymouth protection works, £3000, discount and charges £39,000. Before concluding his remarks concerning the loans he wished Hon. members to understand that provision was made for payments during the year of £00,000 sinking fund on colonial loans and £40,000 on provincial loans, those payments represented the sum which the colony and the provincas provided for reduction of the public debts. On the 30th June last there was £140,000 in the Trust Fund, of wbieh £587,000 was inresteei and £50,000 in cash. Oα the 3th. June, 1871, the amount in the Trust Fund was £343,000, so that it had increased during the year by £90,000. The Post Office Savings Bank Fund had increased from £295,000 in 1871 to £365,000 in 1872. These our imports represented nob only consumable accounts it should be clearly understood were kept entirely distinct from ordinary revenue and ordinary paycients, and he had taken the strictest precaution to secure that the interest-bearing accounts were sufficiently covered for all accrued interest, He would next speak of the revenue of the year 1871-72. The actual revenue of the year was £1,007,000 against. £990,000 estimated, and £936,000 the actual receipts of the previous year. There was there.'ore an increase of £7.000 over the actual receipts of 1-870-71 and of £17,000 over the estimates. The Customs revenue showed an increase of £25,000 on the estimates and of £45,000 over the amount actually received during the previous year. The exports during the year had exceeded those of the previous year by £1,181,000, and the imports showed aa increase of L 437,000, . Amongst the exports, gold increased L 1.35,000 over the previous year, and -wool showed a considerable increase ■both in yahie and- quantity... The stamp duties have " yielded LSOOO .less than was estimated, but on the postal raventie there was an lnqrease of L 2,000 overrfche., estimates, , , and th§ receipts p,f ihe' telegraph department showed a small increase.

The total ordinary rovenac of theycar being .£1,007,000. There xvpfio be?:ftiS«ed pu ; aS 2 ' count of credits to vptes L20Q0,. Treasury i Bills L 90,000. ..Deficiency J3ills _ 1 miking- the total receipt of ;the $ceap [ Jil, 199.000; still in/addition there were ; assets amounting to L 62.100, bo .receipts and assets tho totaKfor the year ■amounted to L1,26i»G00 Tho '"year s creases as regarded revenue and the events of the year as a whole showed a revival of prosperity in tho colon}'. Gold mining 1 was improving wool was increasing in valao the land revenue had been largely increased building"; was going* on all oyer the colony, not only as regarded dwelling-houses bat erections for business and manufacturing purposes, and generally much more attention was being given to manufactures of various kinds, j With respect to agriculture he was under fcVic' j impression that the State did not know as i much of what was really being done, nor j gave it tho assistance they ought to. Daring i tho five years ending 1871 there had been a continued increase in tho value per head of the population of the agricultural produpe exported from the colony. Tho expenditure during the past year for colonial charges was according to the appropriations, L5G0,000. Supplementary expenditure upon colonial account amounted to L 35,000; capitation allowance. L 200.000 ; excess of payment to provinces, L 31,000; Deficiency Bills paid off. L 60.000; liabilities from 1870-71, L 62.000 5 payment to special fund on account of a liabr lityoftlie provinces previous year, L200.000> half amount of Stamp duties paid to Tnimigratioa and Public Works account L 3/,000 These sums made a total of L 1,014,.000. There were still duo liabilities on account of interest due in Sydney on the Ist July, and interest and sinking-fund payable in London up to 10th July, amounting to £109,000. Reservo Fund, £14,000. Miscellaneous, .£13,000. Deficiency Bills, £100,000. Adding all these items together there was a total of £1,250,000 expenditure which, deducted from the total amount revenue, left, a balance of .£IO,OOO to commence with iri 1872-3. Taking tho mattor in another way, the figures stood thus :—Assets, £240,000, against liabilities to the amount of L 333.000, thus leaving the same balance of rather more than LIO,OOO to commence the year. It was to be observed that the full amount authorised to bo issued as deficiency bills, viz., LI 00,000 had been issued, but that tho greater portion of the amount did not bear interest, being entirely at nominal over-draft at the Bank. L 40,000 of the amount has been taken by the Government. Some objection was stated last year to allowing tho Government to issue LIOO,OOO of deficiency bills, but in reality it was of no asistance to the revenue. The greater portion of it was represented by advances outstanding, and from tho consolidated fund. The full amount was more than represented in the assets. Hon. members would understand that after paying of deficiency bills after providing for the unauthorised expenditure of the last year, for the reserve fund, and for all the liabilities and engagements known to tho Treasury there still remained a balanc3 of L 10,500 with which to commence the year 1372 —73. The proposed changes in this system of keeping the public accounts according to the plan which would be submitted The Comp-troller-General and tho Auditor General would be associated together as Commissioners of Audit, and the P«y master-General's accounts would be abolishel. The new system had already been initiated to some extent, although it would impose on the Treasury an amount .of check to which it had not hitherto been subjected, the department would learn to accustom itself to that check. The new system would answer the double purpose of securing the full authority of Parliament over the expenditure, and of enabling the accounts to be made up more easily than hitherto. He had prepared some, interesting statistics, comparing them with other countries, talcing the year IS7I, which was the latest for which returns could be found, it appeared that the revenue of the United Kingdom was 65 millions sterling, of which less ..than 2l< millionswere obtained uDder the Customs ; and 20 millions, the amount of the excise, represented the duties on spirits during the same year, total amount collected in New Zealand, including the taxes collected by the provinces was L 9 If there was the same taxation in New Zealand as existed in Great Britain, although the English Custom-3 Tariff would not of itself yield so much as that ot the colony, the total revenue would be much larger than it was at present. Stamp duties in the United Kingdom represents I 6s per head of the population, or nearly fifty per cent, more than in New Zealand. Of spirits there was consumed in the United Kingdom per head of the population, under one gallon, but in New Zealand the average was two and one-tenth, gallons. Tobacco, one, and three-tenth pounds per head in the Unified Kingdom ; New Zealand, two and six-tenth pounds per head. Wine, five-tenths of a gallon per- head in Great Britain, against; six-tenths in New Zealand. Tea, three and four-tenth pounds in the United Kingdom against seven and one-tenth pounds in New Zealand. Coffee, a little nnder otie pound per head in {the ; United Kingdom, -as | against a little over ;two--pounds head I in New Zealand. Sugar 46ibs. perthead, in

tho United Kingdom against C7lbs. in New 1 Zealand. The English tariff would havo'/ yielded L 85,1,000 a 1? against L 523.000 actually obtained hero for OUstoms Duties, feat if other taxation have tho samo proportion to customs there aa here« thr* fcotnl receipts of New Zealand would havo been L 12,000,000 in 18G9. as against I|S { ,)4,000 actually raised during that yoar ; hut besides this, th© JocstT taxation in the United Kingdom amounted to over 50 per cent, of the general taxation, while in Now Zealand the local taxation was very mndh less. Tho secret- of apparent heavy taxation in this colony was to ho found in the fact that the rate per headof ralueof im- . ports and exports was considerably higher than it was in tho United Kingdom during 18G0. Tho valuo of import? into tho United Kingdom represented L 9 14s 4d per hoad of population, and exports represented a valuo of L 7 l(>s ; but in Now Zealand i during tho s a mo yen r. imports represoritod LIS 4s per head, and exports Llo* Os per head. Hod.v members would recolleot that our impoite represented not morely consumablo or pcnsuaole tgoods but articles of lasting value, and means of increasing wealth: During the fivo years ending 1871, the total value of our imports was L 24,000,000, of which L0,G00,000 was half non-consumablo articles, so that to that amonnt articles of permanent valuo and means of increasing wealth were added to the colony. By another return it appears that for tho year ending April Ist 1572, the half of imports into Great Britain less valuo of re-oxports, represented L.S 3s per head of tho populrtion. whilst, in New Zealand the same year, and under samo conditions, imports reprcstv.ito.l Lls Gs per hoad. The British produce and manufactures exported from the United Kingdom represented a value equal to L'i Os per head ; but tho valuo of New Zealand produce exported from the colony represented LI7 I Gs per head. During the same year the Post-office revenuo in the United Kingdom was equal to 2s lid per head of the population, against os 4d in New Zealand, and the Telegraph revenue amounting to s.jd per head in former casesi against Is 9d in the latter. The population of England and Wales in 18GI showed a population of males betwen the ages of 10 and Go equal" to 28 per cent., while in New Zealand in 1871 tho proportion between those agos was 30 per cent. On turning to the neighboring colonies it appears that tho per centago of persons between the ages of 21 and 40 was 38 per cent, as against 29 cent. in New South Wales, and 20 in Victoria. The increase of population during the ton years ending June, 1871 was in. New Zealand equal to IGO per cent, as against; 40 per cent, in New South Wales, and 30 per cent, in Victoria. During tho same ten years the increase ia the population between the ages of 21 and 40 was IG2 per cent, in New Zealand and 38 per cent, in New Smtn Wales, whilo in Victoria there was actually a decrease of ten per cent. A comparison of the exports, and imports showed most favorably for New Zealand. Leaving on one side imports reexported and the vahn of snch re-export?, the result was, of Victoria Ll4 4s per head New South Wales, Ll2 'Js New Zealand, L2l lGs per head ; or if the native population bv the last census were included. 18s 4a. Taking exports the figures were: Victoria, Ll4 10s per head; New South Wales, L.12 16s;. New Zealand, Ll9 3s per head, or including the native population, LIG 7s per head. If the. principal products of the colonies were considered, the results were more strikingly favor- ! able to New Zealand. Thus upon an average of the five years ending 1871 New Zealand exported gold to the amount of LlO 7s perhead per annum of tho population against | L 7 10s in the case of Victoria, and 10s in that of New South Wales. For the same period the average export of woo! from New Zealand, was equal to about LG 9s per head as against L 5 8? for Victoria; and L 4 19s for New South Wales. The exports of agricultural produce and timber from New Zealand for the same period was-equal to I'is per head of the population per year, but from Victoria those exports average! only 3s 3-M per head, anl New South Wales, 10a Gd per hea l. A. further sun must be adledin the case of this colony for flax, the exports of which, including the native population, was equal to 4s Id per head. Much had been sail and written respecting the New Zealand, oppressive customs tariff, but if the Victorian rates, including ad valorem duties, had existed here, and if the value were aided the same as at present, we should have raised in customs revenue during 1871, L 780,000,. against L 731,000, which we actually received, i t was to bo borne in mind that the native question had cost New Zealand L 5,000,00.0 sterling in the shape of expenditure more than would be required in a cdlouy /situated like Victoria, and that fact should show how great the resources of »h > -ejlony were. It was alleged that the cos> of Government here was heavy. Ti?e cost per head of that Government was large because the population was smal'» and it was especially to be remembered that here the* smallest agregation of population asked 'and eXpecte&nto all the' conveniences which in older colonies j were only expected by large communities. | Still the comperison of the departmental | eost of Government was favourable to 'New .' Zealand, taking the financier year 1871-72.

in!,. Ti>'; whole penditure in Now Zealand. ' cxc.lf } ',;-."c! of intercut of .sinking fuml, ftmonnted to and tho <;vp;nditurc of tho several pro- ; vioiin (/overumoiitß for civil ncrvicc purposes, in- j rinding Kduoation, Police, (Jaols, Harbour, and j .Miscellaneous ; but exclusive of pnblio works was ■ 251,000/, together v»th those (jucriH, madoa total of • 81(5,000/ again.'it hii f;:;poii'lifcurc in Victoria for like ! purposes of 1,415,000/ Turning to tho proposed ! expenditure for 1872-7.'!, tho total amount on. tho < KfUimaten was I O.'JO, showing an increase of | 21,000 on the appropriation for 1871. —2nd. That i inorciHi! w.ti prinupally represented. by increase in , permanent ohaigos such an 5000/ for interest on i 1)0,000/ of 'JVmury liilLi, and 1 100/ interest for j defence and other purposes loans, other items going 1 towards the increase" wens tin; additional amount for rnornbeia' expenses, ami or buildings now become a colonial charge ; and tno expenditure on amount of Maiuik.au lighthouse. There was alao > an increase in tho expenditure nf some of the do- I partmeiits, »iuch as tho telegraph atld tho land ; register. . I Hon. members, in looking through tho Estimates, ; tiinut 'loci'ln for themsolres what they would consider as reductions in expenditure fairly coming ; undnr tho head of retrenchment, or under that of I reduction, arising from there not being any necessity | to continue certain services or officers. J'o tho ex- j pendiLnre, &c., Jaid down in tho Estimates tnoro j inn.'th be a ided for provincial capitation j allov.-i'vo as against 20-),O<M last year ; moiety of j stamp duties, receipt to 1> * paid to tho Iminigra- | tion and Public Works Funds, 40,000/, Treasury | 'Hills falling duo during the year, 45,000/, being tho : Hoooml in.sLalinent of the delici ' icy standi last year, : leaving only 45,()!)() to hi cloiro l off next year ; ! thor 1 ! niu.st also bo added a sum of 21,01)0, which it j was proposed to pay to tho Immigration and l.'ublio I "Worka Fund, in addition to one-halt' of the Btamp j Duty which had boon paid over to tho account, the account, being calculated to represent fairly tho amount, ot interest arid sinking fund on tho payment made (or works completed, r.nd on final payments ; this would make a total expenditure of 1 ,()f>f),0()(). It would, lie remembered that tho capitation allowance l,(i provinces represented 8,()!)() more than was paid last year. ft was proposed also to relieve province of payments of 11)0,')/ a, year for salaries of provincial auditors, and 2!!,000/ a year, the cost of inland mail carriage ; these .sums together would represent a payment of .'53,000 out of tho consolidated rowiuo to and on account of tho provinces more than was paid last year. It was nob proposed to con ti line the extraordinary aid of 50,001 (/which was last year granted for tho provinces in consideration of its being alledged that there wore engagements which required that amount, but 50,000, being the same as last year, would again bo paid to lioad Hoard,;, Tlio estimated total of the revenue for the ycer was 1,07C>,000|! ; tho principal items Were <tusi;oms, 820,000/; Stamps, 80,000£; Postage, 50,0011/ ; Telegraph, .'i.'i.ODO/, ; Judicial Fees and Fines, .'{2,000. It was estimated that the stamps this year would yield 80,001) ; although several remissions would he proposed viz.,the annunlliccnsc .fee in companies for the promotion of industries and colonisation, such as meat-preserving, saw mill, steam boat, tramway, immigration, public hall, and fishery companies, it would also be proposed to remit the stamp duties upon chcqncs of friendly societies, and upon receipts given for moneys disbursed by them ; and to remit duty on all convevance of iand in trust for religious, charitablc, anil educational purposes. It would also bo proposed that the stamps on receipts should lie red need to one penny. The postal revenue was estimated at .'{ooo/ more than last year, notwithstanding the contemplated reduction of the postage on newspapers to one half-penny, as manv newspapers now sent by coach would no doubt bo sent through the post undi r the reduced rate, that it wis considered tho reduction would diminish the revenue of i 11e department. The total estimated revenue then was 1.07f>,o:)0 or an increase of 80 000/ on the rstiiiuile and of .£OB,OOO over the actual receipts last vear, adding £10,500, the amount of the surplus which tii* year was commenced with, there was a total of £ 1,08(5,000, and deducting the total proposed expenditure, C 1,0(50,000, there would remain 25,01)0/ surplus, which would he required to meet supplementary estimates and unauthorised expenditure. It must also bo remembered that when the Kstimates wore commenced, the report of tho .Select Coniittee on public buildings had not been received, which contained a recommendation that a considerable sum should be expended on the repairs of buildings, provision i.for that expenditure was of course, n ,,t included in the Estimates ;on the other hand, there would certainly be during the year saving:-, on votes, and he was inclined to think that if the House should desire that further payments should b° made in aid of immigration and public works account, such payment could be made out ot the surplus. In conclusion, he thought lie need not apologise for novel features or new proposals in the budget. After tho changes during the last three years, it was gratifying to be able now to dispense with further jjlarge alterations. This was the fourth consecutive session in which'lie had made the tinaneial statement, when he considered the period, covered by those statements he could not but congratulate the Committee upon the present improved condition of all'airs in the colony. He hoped that he had avoided creating in tno minds of the Committee anyr-hing like an impression that the , (Jovernment took credit not belonging to them. The great revival of prosperity in the colony was due to a power higher'than that of kingds or people. Alt that the (rovernment claimed was that when there was a disposition to despondency they set themselves to that which seemed best calculated to restore confidence, anil they called upon the poopltMioj-to be discouvaged, but to arouse . themselves, to contend with their dfHieulties and to hope for a brighter future—that future had shown itself in such bright colors, this was due to a power beyond all Governments, The Treasurer conclude I by moving a resolution that it was expedient to reduce tlio stamp duty on receipts to one penny. The resolution was agreed to by the Committee, and was reportec to the House aud adopted. The lieuse then adjonrnt d. The delivery of the statement occupied two hours an I a quarter.