Parliamentary.

Waikato Times, Volume X, Issue 800, 2 August 1877, Page 2

Parliamentary.

EINANCIA.L. bTATEMENT. HOUSE OF RUPEES ENTATIVES. TUESDAY JiVENINCh Wellinghoh, Wednesday. [From Our Special Uorrjaponient.] At the evening sitting, on Tuesday, he Colonial Treasurer, tho Hon. M-ijor Atkinson made his financial statement. He said that it was true we hud reached that point in the gjhenis of the public works and nnmigratioa when the revenue was Buffering to. tha greatest txtent posßible from the large unproductive expenditure upoa railways in course of construction. Ib was. also true that there exirted a fueling of uneasiness, amounting in some quarter* to auxiety because of the belief that the aerviod of ihe year could not be provided for, except by increasing taxation. Kuowing the strong desire that therefore arose for early infoimition, lu hud taken die first opportunity afforded by the rules of the House to state the financial policy of the Government. Ue meant in bu statement to direct attention to broad features only. The details would be found in the usual tables. THE NEW LOINS. He would tirat describe what had b«en ■»•< iiu >e'- the Loin Act ol lv<t B*dttio>, which authorised the raising of £1 000,0 0 ir U.itnue purposes. When authority ■•Vas' asked for, he stated hU boii f hat the money could be raised in the oo'iiot), *n i that if so, toe Government •>ull gludly avoi I yoiug upon iho 'i.. n<lou market fiii 1 at leaso a yea*. That •e-ief had been realised. His coll»»gt;e, vie Mo lean, had lU'ttoiiaicd in Syd ey, *ith the Bank ti "New South Wai s. or an advauco of half a uoillioo, secured upon ' short daud' debeutuie*, muring flve per cent interest, payable half yearly iu Wejliugtoji, ajjej pue half

per pent commission, the principal to be repaid in London in three eq.jal inacalrnentd ab intervals of one month ; the lust instalment falling due on Ist Sep. 1878. From the Bank of N«w Zaalaud they had obtainod £500,0u0, secured upon short dated .debentures bearing five percent interest, payable half yearly in Wellington, principal repayable ia London, upon the 15fch February, 1879. A further arrangement with the Bank of New Zeuhnd had also been nude by which, under the Bank agreement--, an advance of £400,000 could be obtainod upon remifctable securities, instead of £300,000, making the total advance obtained under th it arrangement £500,000, \nd fixing the 15th February, 1879, .for the repayment of all such advances. PUBLIC WORKS EXPENDITURE. Tho appropriations last session for immigration and public works amounted to £2,032,286. There hatl "been expended up to J uue 30th £l,4Bo,6l#BQithat there had been a saving of|*ss l^6Bß durinv; the yeur on the araou:it ': voted. ' lii asking for so large a sum, he^pledged the Government to limit the expenditure us far as- was computable)? with . -prudence, care being taken that injury*shouli not be itone to tho public servici*, and though complaints might be made that some districts had been neglected, the Minister ior Public Works would no doubt be able to satisfy the House, "not only as to what had been douo, but as o what had been iefb undone. The votes 4 on which the largest savings had . been* ; made were railways, on which the expenditure had been £333,000 less than, the estimate ; water supply on goldfieldsV £61,000 less ; land purchases (North. lsland), £4,000 less ; and roads, £36,000' les*. The other savings included £22,0U00a iuimiigration, and about the same amount on public buildi.i.-s, £23,000 on lighthouses, and £12,000 on telegraph extension. Taking the Public Works Account as a whole, the ways and means had been £11,500,00 from loans, including £750,01)0 out^of the loan of 1876, and £340,620 from receipts, and including £264,657 from stamp duties up to December last. There was thus a total of £11,840 6^o of way» and means. The expenditure up io June 30th amounted t0 £10,860,431, so thai there was on 'that date a balance of £980,189. The principal items of the expenditure had been — nil ways, £6,129,920;' immigration (including Io oatiunj, £1,517,809; roa is. £894,571; land purchases island), £.j33,580; water supply on goidfial.is, £4U5,0r*3. i'he charges of raising me louiis nid amounted to £498,532, and interest alSd sinking fund represented £218,503 of the oaiauca ot Jt980,189. ffOBTUfiJi PUBLIC WORKS. There wouid be required £645,957 for works uader contract, or übuuc to «e let. It was proposed to ask for appropriations amouutiug to about £1,274,676, and if these were granted, additional ways aud means amounting to abuut £990,443 i would be required for this account during the year. PROVINCIAL LIABILITIES. Next, as to Provincial liabilities, Treasury 'Bills for £110,000 had been issued uuder the power giveu by the Appropriation Act of last year, and the proceeds had bten applied in terms of that Act, in making advances to the provincial districts of Auckland, Wellington, and Westund. Out of the 1876 ioau,>ua~ quarter of a mi.iion was appropriated to meat provincial JiabUitien tailing due 'Oetvkedir lho : irt'^rf^iranuary and 3jth -Julie. Therd had been, transferred to the several provincial liabilities accounts for that purpose, £237,500, leaving £12,500 to defray. a portion ot the cost ot raiaiog the loan, the balance being'applicable to outstanding liabilities. Taking the provincial liabilities account as a whole, the receipts up' to June 30th had oeeu £620,951, and .there was a balance of £4j,88S to be applied. The Government regarded the compensation paid to provincial officers, whose services had been dispensed with., as "being properly provincial liabilities. The amount ao paid would, therefore, be iuclulied in a statement of unauthorised expenditure which the House would be askeu to cover by a vote. THE PUBLIC DEBT. Before concluding this pirt of my subject (continued the Colonial Treasurer), Che committee will, perhaps, allow me to say a few words abuut our public debt. The gross public debt of the colony, general and provincial, including treasury Dills, when the balance of all loans mow authorised are raised, will be £20,895,311. As against the debt, we Dad a baiauce of 1 980, 189 13 i id at credit of the Public Works Account, on the 30ch of June ; £35,416 IS* 9l at credit of the_Defeuoe Loan Account, and Accrued Sinking Bunds, amounting to £1,353,562 2s 10J. Our tot»l revenue last year was, £3,049,559 10a 4d, and, excluding laud aal s, £2.161,304 13s, that is, after Betting apart that portion of our ino une derived from the tale of laud, which, in most colouiea, is calle 1 revenue, our uet public debt is eight und a half times our revenue, or, if we includo our income from land sales, our public debt is equal to six times our revenue, while the public debt of Great Britian is more than teu;times the amount of her revenue. This seems to me a far fairer way of compariug our iudebtedues, than at bo much per head of ttie popuiaiiiu. It should, moreover, e rememoerei that the public debt of Eiiglaud has been increased for war purposes, wbile that of New Zealand has mainly been incurred for reproductive works. It may, perhaps, be interesting to state the purposes lor which the several loans, general aud provincial, which constitute our national debt, have beeu raised, and the amount applied to each. I have ascertained, by an examination of the several Loan Acts, that those purposes and amounts may be classified thus :— About £8,300,000 baa been spent upon railways; £3,500,000 on immigradon, £4.400,000 on Harbours, lighthouses, public buildings, roads, bridge ■ and other public works for opening up the country j £1,300,000 in the purchase of nativa lands, including the payment of the debc to the New Zealand Company ; £2,000,000 in the suppression of tn« u -tive outbreak, and the remaining £500,000 on miscellaneous purposes. REVENUE AND EXPENDITURE, 1876-77. The expenditure for 1576-77, as authorised by Parliament, exc usive of that for railways, was £1,858,467, and there had been a saving of £194,084 upon the votes of that amount. £73,323 saved under the head of Interest and Sinking Fund, was mainly due to a years interest on £1,250,000 having been pro vided for, and wnly a half yeara payment bein^ necessary. Duduc-m^ this, c i-r---woul I atill remain a swing of £.23 560 on tie appropriations f-r the year, ihf ama gmn<ttionof the Armed Const buiary wi h the fuliot? Force of t\w c-uony, ha<i enabled considerable reduction to b made in the cost of those service*. Bui., owiug io the necessity -»f payi i^ » bunus tn in* ni-n dischar ed, th« aavi -g for tl>e «!x uvmths amounted ouly to about £! 0,01)0. RAILWAYS. The estimated of expeu<iitur& upon iMiivrays, and fcho reve»ui> from t^em ouriug th« year, 'ware uec ssarily oo.itingeat upou the progress o f W or!iß, aud,

therefore, ihe item had been omitted in comparing actual expenditure with revenue. Under each head, there had been a dimunition, owing to certain exteusions not being opened as early as was anticipated, de, last Session, estimated a profit, of £84,000, receipts being set down at £345,000, and the expenditure at £260,758, but ib was a faotupon which the colony might well|cougratulate itself, that the profica from railways had heen £87,924. During tho year, the receipts having been £316,220, and the expenditure £228,295. CONSOLIDATED REVENUE. He would now refer to the consolidated revenue^ His estimate was, that the .surpluePwiih whica to begin 1876-77 would-be 50,052, but ib hai proved to be £61,027. Tlie total receipts under this head were estimated at £1,691,850, but they had reaihedk£L,6l4,sß2 outy. Tne Customs Uevenurono wed <* deficiency of £10,621, but, looking at tbo disturbance qfJbra'te Uirouguout the world, aud the uncertainty of the wool market during the, year, the Government hud ■een prepared to .find the deficiency larger, ana, -probably, honorable members, were similarly prepared. Tue P.taoa! He venue appeared to have fallen £9,452 oelow tne. estimate, but sums amounting to £15,923 had to be received from the LmperUl and Australian G- 'verumenos, so that (he sueimng deficiency. w.juld be conVerted iuto -an excess uf more thau £6,000. In^ncideutal recuipts, thera wis ;i - deticienuy uf £18,447, but receipts under cms nead can never oe estimate.! with more than an approach to accuracy. To the £1,614,d50 received into the cou> sohdated fund, he added, that the profirs of the railways, £87,92i i the £23,000 transferred from tne State Forests Account ; the two per c^m from -the Land Fund under the Financial Arrungements Act, aiuountin^ to £71)997 ; the surplus at the begiuuiug of the year, £61,029 ; ->tud ihe assets yot t'i be realised. l'nese made a total of ;£1,882;249. The total revenue lorthe year as estimated anounted to '£2,148,902, or exclunve of railways, to •"£1,801, 90^, to which musk be uudei the estimated profits ou tne railways, £34,244, making the estimated receipts for the yeur £1,886,144, while tiieactun receipts were £1,682,^49, being £3,895 lessthd.il tne es<im..te. i'he transactions i>t ihjyeui 1 migut oe" summii'isud tuus : Actual .expenditure, inelu ung --liabiiiiu-e, £2,024572; actual revrnue, including reaiisiioie ass : ts, c2 172,792, 'ie*viug a bulance of £148,22 ■ us a surplus with whica to uejin 1877-8. Co Hparing 1876-7 with 1875-6 the faliiuj off i.rtbe Customs roVoiiue was but small, and notwitnsLundiug it, tuo rovonue of tne o'o.isoudated Fuud, including reveuuu assets of the y^ar, showed au increase <->■ £238,276. LaJSD FUND RECEIPTS. The Land Fund duriny the year (exclus.ve of gold duty) was £1,039,242, or £419,000 more thau the average lor the preceding seven years. . Since t;ie Ist January (said . the Coioniai Treasurer), when the Financial Arrangements Act camo into force, the receipia have been £544,154. Ihe estimate was £322.610, so tnat the estimate was exceeded by £221,884. Bud I regret lo say that although there is a very large increase on the whole, the deficiency w_iftrggp"thau was provided for by \\\# : Flnaucial Arra|rgement>s v 4ot. The sales in Canterbury show an enormous excess, while those in Auckland, Tarauaki, Havvke's Bay, iN'elson, and Otago have proved to be lees by £83,000 than the sum estimated. In consequence of this,- the iwhoie of the treasury bills authorised under the Financial Arrangements Act, amouuiing- to £150,000, hare been issued, and an additional sum of £53,005 has hid to be advanced from the Consolidated Fund in aid of the Land Fund. tfOVEttNMENT SAVIN JS BANKS aNU INSUKANCiS DEfARIMIiNTd. The business done by the Podt-oflk'e Savings Banks had been s.itistactory, and tne deposits remaining on June 30i>h were £720,U00. The year's transactions in tue Annuities aud assurance deparcmenls had been most satisfactory, and reflected great credit upon all connected with the department. But as it was intended to oring in a bill io establish a 80-U'd of Management, instead ot leaving the direction in the hands ot' a Commissioner, he would noc now trouole tue Committee with remarks or details. H-E VENUE AJSD EXfENmTUKJt FOK, CUKKEiNT Y&X&. The proposed total expenditure <or the the years 18/7-78 was £3,160,754. The cost ot most of the Depn'twenos Luid been reduced through amalgamation uud simplifying, though tne wurii iu uttuy cases had been doubled, lie regrcttco that more had not been do ig m i hi» direction owing to want uf time, iu consequence of the enormous amount of vvorK which had fallen upo.i thu G-overument burougu the cJiistioutio^ai cinnges it uau been their bushiest! to inaugurate dunug the recess. Uuder the head PUBLIC Di£PAttL.yLtiJNT3. £30,000 was included for ho3piia| a ami onantible institution-, aud this Wj,, meaut to provide the subsidies which would probably be payable under die Cuai-ilab.B lnstiiution Aofc. A u . thority would ba asked to deduct fry „ the subsidies of the Counties, Boroughs, and Road Boards a suflhiono sum to maintain hospitals, and -tor churitat le ail in districts which declared not to adopt the Act, or in which it proved insutlicieut. The House had already beeu imor. ned uf the provision meant to be made for education. A large inc nuae, amounbing to £10,989, had Jten found necessary in the vote lor MILU'IA AND VOLUNTEEKS. But it was chiefly on *coo.; nt ol the stores and ammunition und capitation on tiae incresaeJ uumber of Volunteers. The S>m . g effected by the nax tlgamatiou of the Police and Armed Constabulary was qu*l to £33,000 a year. Kelerriu g next WAYS AND MEANS. For the curreuG year, tiio Coloaial Treadii er slid, 1 have just aaowu now to provide for an aggregate expenditure of £3.019,754 12s 9d tor the year, of this £2,394,546 12 9d is Charged upou the coiißulidai.ed fund, on the Groid Revenue, £12,00D, and £613,20S upou the juaud Fund, being such charges ouly as cich fund should support. Now it all the charges placed upou the laud Fund of each district could Jbe recovered the consolidated fund would be iu a position to bear its legitimate burdens without difficulty. As a matter of fact, however, I do not think that more thau £560,000 of that sum will be practically recoverable, the Land Fund in certain districts being insufficient to meet its liabilities. It wil ihfire'bre be ueco^sary t-i her to supplHu no &hn c n oiidat d revenue or ti r.-.l'.ive it of mime of ihe chiir^os wh-ci 1 have propose i it snail bac. I dimijiaj, d.r, aa alto.etUer undesir»bl«' 4 t ; e |;luj i»f (Margin 4 suuh t-er -ices an Police and Etuuittivi Ujihi (•he Laud H\in ! uf -those ihut Lti which A<e a->le 10 bJ.ir Caeui, Th»-y ae chir^e* *■ iiiofi iu the opiuiju of tie G.jvutum n-, B'toird bo '■ orne up a tue cans -I; uitori :u i'j »Ht:d, il uh,! sstry, by Local tUnea If tie co <mii>t- e li^re w.th me, thit it at.iu d hi unwise w oi.irgo ayaiu^t <hu L»ud Fuid auy of tuo s.n vices I haw p -/pos d C'» pace ujmh t : e oousolidutcd t'uud, it foliuwu toafc ,tli9 only course^

open to us is to increase that fund'up to our requirements. 1 say that it follow, that for the present year this is the only course open to us: because I have satisfied myself that it ia impossible to reduce departmental expenditure . within , ourincome unless we are prepared to re-, -lmquish some of the business advantages' we.- enjoy i ft the way of . Telegraphs, ,Postal Services, and Eesident Magistrates, whioli are spread broadcast over the land j and which, as- far; as my experience goes it is hopeless to attempt toreduce. I take it for granted, then, that we must at any rate temporarily aid the consolidated fund, and the question 13 how is thisrto be done ? . I 'know, Sir, that many persons whose opinions areenDitled to great weight, from their position , and their knowledge of the colony and its requirements, think that the time has arriv.ei for levying, a PftOPEKTST AND INCOME* TAX And if we were now in a position to deal with the question of the readjustment of taxation, much might be said m support of such a tax. • For my owa part, 1 am very loath to open up the qufestion of taxution at present, our liabilities being' what they are. The • 'subject - of taxation is riot lightly to be touched. It is oae which requires the most careful thought. It must be con•i <ered as a wtule, and ib would bo quite impossible to deal with it sitis iaotorily during the present Session. When our trunk railways are approaching completion, when we have had time to consolidate and Bettle down and are able to .better miud our real requirements, then the whoio incidence of taxation" must be considered. But to dsal with it no*, in a fragmentary way, would, I thiuk, be a very serious mistake. For the reasons just stated, and because we think our requirements for the year can be met ina way which will be far more satisfactory co the ecmn try, and which is fair and reasonable, I snail not propose widitiotaxation this year, and I vduture to hope that additional' taxation may be altogether avoided if we obtain from our railways th.*t income which seems now assured, and if we are successful in the inscription of the stock. But here, Sir, it is necessary that I should' recall the attencio i of h->nora»le members to two prinoip es which have been clearly recognised as underlying all our legislation relating to W"aßte Lands and Im uigratioa and Public Works. Those c o principles are first the LOCALIZATION OB 1 THE LAND FUND And secondly the recognition that immigration, roads, and railways are a proper charge agaiusfc the Laud Fund. These principles have been constantly r cognise >, and though it is true that they have not been .continually acted upon, y t the recognition of them crops up in our legislation at almost every turn. By the A* rovincial Govrfrument and legislatu es wuich have hitherto had the practical cunbrol of land revenues, the second ot these principles has always been acted upon, but in this House expenditure upon immigration, roads, and railways his been from time to time charg-d against the consolidated fund as that fuud has beeu found able^ -to -bS®r, it. Butjiuese^.fewo-iffipoitsn't" principps* have never, been abandoned or lost sight of by the Parliament or the country. With reference to the lociliz >tiou of the Jand fund it Is necessary that we should distinctly define in our own minds, the meaning of the terms. The meaning, ' Sir, I attach to the term localisation of the Land Fuud is, that the money received for the sale of the Crowu Lands within a defined... district, should be spent iu opening up and peopling that district. I am not, air, now going, into the question of what is a district. That would open up far too wide a field altogether for the purposes of my argument. I shall accept the di-triets as they are, although it should be noed that Parliament has always claimed and exercised the right of altering the boundaries of these districts from time to time. Most houorable in embers will go with me so far ; at any rate thoju will who, like myself, think that ihe proceeds of the land should be applied to the land, tint thoje who pay trio m->st should receive the greatest facilities for occupation, and that to treat cbe land fuud aa ordinary revenue,' ia thorouijly bad in principle. Some few will probably desire to go even further, but, Sir, further than this localization, I am" noo prepared to go ; for, whju tne muuey has baeu spent in opening and peopling the districts, the objdet '■ of localization is accomplished, our duty to cue Jand is fultilie *, and there, iu my opition, localization euds. Holding then, as I do", tne opinion that, with the prooee is of ihe uiud, ib is thj duty of the Stae to op »n and settle tha land, it se^nn to me not ouly to be no violation of the principle of localization, dug merely ;n< xtansiou of ic, to say that if the Sbat tinds iho money before hand for these p>i> poses, such an expenditure should be made a charge against tue land fund, aud tnat it is ia accordance with the principl. of localization to charge agaiust the land fund of eucb district any sum not exceeding thd amount expended within that distrot in any way which Parliament may determine as the most conveni iit. No*, th^re has been raised for railway aud immigration, a sum, iu touncl nutn bar*, of £9,500,000, ttie whole of which is fairly liability of the Land Fuud. I'he annual charge on this sum, for interest and sinking fund, is about £483,000. Out of this there had bui-n expended, up to the 31st December, 187fi, the day on which the accounts of «he late provinces were closed a net sum of £7.185,245, and tho colony had paid in eivso thereon to the amount :of £825 482, but has only recovered from the proviuc«s £160,343, ? o that, in aid oi the Laud Fun i, tne Consolidate! Fund liasaciuaUy paid t'6sa, :39. The Colonial Treasurer statod the results of : tables, showing how each district had been beuefitted by the Lund Fund, and he then proceeded as foJlows : "I have shown the extent to which the Consolidated Fund had boon burdened by the payment of interest and sinking fund on moneys expen ;ed in perfuming the work for which the I-and Jb'und was localised — namely, tue opening up and settlement, of the country, and, applying the arguments I have just used, I rshalt ask the House to re:iffii'in the princip e that moneys expended on these purposes ara properly chargeable upon the Land Fuad. W e rec >gnf9e thut at the present moment fie Jrefuod of these charges is. beyond the lmnudiate power of fcho less wealthy districts, but, as respects the Provincial Districts of Canterbury and Otago .no such argument can be used, and we proposa to charge the Land Fund; of Canterbury with a sum oi £58,0Q0, and that of Otago with a sum of £109,003, i-ei-v,- iu e oh ca<e oue md'ty ol tue a.uouut. by wnich the Lmd Fund ol these i.|is:.p «ts h.is oeeu aidod. Witu the exc pfcio.i efa sth.ill debc, tho charge of - icr tear, for railways, tho py.ibe i.o (Joiijtiea aud Ro*d 13oar>i8, uti l hoc st ois.irv -y and ad.ninUtiMjiou, tlid L.u.l Ku.idofL-iutd'bury is<ubsoutely f r e, uiul, i,i view of tho lict that a Bum <»! £250..jU0 of the surp.us LioJ Fuui 'mat), en distributed within tho di tnct <luin^ tho past sit niiiui.ha, .uul dim a I'ur-iiei" sum o £100,0 >0 i.» uow roidy f -r distribution, we p opo.-ie to deduct h r o juriuatiun Jrjui the stun in li -ud. i' o due o Ooago is aouio.vha.l. diifdrcus; Toe distriot has a voiy lorgq eatate,

though it is burdened now with leMes just expiring, and whiqh it urould be a waste of public money .to cancel. W« propose, ' therefore, to raise the amount required .to meet its dorjtribution, together with t&e'auin of £36,000 'advauoed last ye*r iu aid of ihe district laud fund, treating the debt as a provincial liability, and making- the 'interest aud sinking tuud a permanent bharge upon im luturo laud whole laud fund ot tue Utago district will then be free, exuoptiug only the 2 per oent uuder tao Ifi i» t joi»l Arrangeuienl Act, the interest on its provincial debentures, the coat of surveys, und laud admiuiatratiou. Ihe roliol to the Lind" Fund under the proposals of .the Qoverauieat. ia very oouaidoraoto. la the Southern proviuoe* eduoutiou was almost uutiroly bornu upon tne L*ud Fuud, under the prbviticiul systoui, und, oousidering that ilia wanio cost £jv building Aud, maintenance of ecuools, of guols.pt luuutio asyluuiH, are, uovr uorne upon tne Couaoiiuated JJund, I do uob lUinls tnat tue iuhabiiauts oi Canterbury aud Utago will oousidor tixo prypositiou I have, made'. unreasonable, tiuu ituiuat lurtherba Dorhe in uiiud, tiim, wheu tue coiony nas mourrod a large expenditure tor^pupuc worUs and- iiumijjraoiou, wbioh is yeany improving ih«> puo.ic escate at a time when tue uurdeu of tue etp udii.urjß ou uuuoinpieiiod woras i, most severely felt, tue o.;ly possible means ol" uiaiutaiuing the broad priuoipio of localising me Laud Fund is by batiug oxre that ail rigbtfu. c'aargo* upou it are iuilt j.ua justly met." THE KEVENDE. The estimated total revenue of the colony for 1877-78 w»a £^,392,615. This total eoiiipVided £2,26S;ltfj oi cou. oQildated 1 revenue, £167,000 ot refunds ttota Oa^tdroury and Übago land funds, £72,000 goldtiuiua reveuue aud gold duty, aud £b9t>,025 fiom l»ud b&.ea, iiceuc-o, routs, &c. . i'ue OudCouis iev«uu a W aß pub aowu ac the amount yielded i aa t year, aud ou other .it u m« there, was a oligut lucreatje. .Railway receipts were estimated at £604,400, aud ihe year'u protit ou tha worK done by tue raiiwuys was set dowu, alter very earfui oouoiuoratiou, at £170,000. Adding to tho estimated i eveuuo tne uui-piua wuh wuich tue year waa.uegun, £14»,220, tuere would be a totrtl'oi £,i,54j,9dd. Deducting tueu the tutal- eotuuaocd expemliturc, there ap» .peaied a oui^lus oi £431,150. uf thafi auui, £329,369 was ujotnuuoabie auiougsi* ■iiie (JuuutivS as amplus Liaud Fuuu, aud tuero wouiu remaiua balance of £101,781 available to m«ec possible u^fioieuoiea ot tlio Laud Fuuil lu certain diSoncts. . THtiJ BAIL WaY SYdJ?JSM. It had beeu touud impossible to carry out a promise maae Ittub year to eubmic buid aeasion estimate* tor cue uuui r lei,iou of the railway oyswem, and ib iuu oecn oonsideied that delay wau prelerabio to an lucompiete eSiiniitce lor Cue purpose l'heretore, theUoverauieuv tvouluoniy aaH. '■ this Session lor a sum tsuftioiouL to uuib\j me already Uucompietea secsious of tuu t uuk liue'Oi 500 luuea irom Auiberuy to Kicg stou, aud lor exteualous oi Citajuajii^liuo - &ij^&er->parfor~oF Cue colony, lueae Wotka would be described in the Piioiiu Works- SGaccmoub ; aud, ououiu the id ouae' approve ot the reuummtudaiioLS that wouiu iheu be luade, auuiiiuuuJi w«ys aud means to the t»uioum Oi £1)40,443 would be required. EXPEKDIIURE OH tUUIIO WOKS. .: The total, proposed expenditure .or the year on pubiic,workb wouia be £1,190,451. linmigtation services were ebiiuiuieu to require .£124,182, aua there were pi O « : viuoial liabilities to meet, aiuouutiuy to .£259,05b'. . These sums made » iuc<.i ot £2.18.0,189, aud aider aiiowiug the .oaliUice .to oreuit of the Jruu.io VVuibs account, £1,200,0-0 wouiu iem*i.., ior vvuiuh ways aua meauo wouiu uave to be provided, ihe £B^o,Oou oi tceddd Dentures uaa, iu e»tiiu*i,m a ways and ineaus, ueeu. treated as casu a^.phc^ble. to public works, out ih Uuverumoiit were vi opuuou tuaw viieae acuea bures. auould be liend, aud auoum ooubiuue to be held .aa available ceouriLy, aguiust vthich udvauct-s ouulu ou uotamed ao aiow nueoi luLe.esw. AiSOTtin-K LUA.H. If these v^tn ij|i.\tu autiionty lo laibt a n>bu v\ ii.Ltt 100 . wouiu Luvv to lie a<=k<d tui, fXi,v>Gi-- - veruuieut couiu uoi rucouiuiuiiu tha. «*u^ ol tue work* wuich vvou.u oe luc Ui.ea iu the jt"uui»« Woruh stuieuiei.k sucuui u«. de< -ayqd, Lut u tlu ±ji ut>« bin u u ikl\..,\q 1.0 ibUUCu tiit eA^d-uiiuit, u^v,!. ac -v rka i.y, say, oue iia.i, t h. n IL. <. ite- femeuo with the Bank ot J\ T e\v •vouid probaUiy.piiCiUiio ihe ucctttjuy lor goiug u^ou Ch« tiun.iou *nurkeu lot auotuer 18 ujuufcus, uud uat beebiuu a oouipiece uoheute oi vvoiku could no uouot be suouiibced. iiut thus, ue repeated, was u course waieh the ooveiument o -uld uot reuoniuieud the House to: adopt. PERORATION. . The Colonial Treasurer in peroration explained wpy tha (Jroveruuionb tuoa^ht it most desirable the country should have ii aid aud rest for the ouiupiota de • veloptneut of the Pub-io Worua s^s em, and should not at present be Uouuied by proposals for increased tatatiou or by questions oi Constitutional changes, or the lucideuced of existing taxes. Tue proposals of tue Grove, uuieuc would secure tuia state of tuinga, and ho asked for them early and ino&t caieiui consideration. Tne House adjourned about 20 minutes after 9 o'clock. Last night.