THE FINANCIAL STATEMENT.

Waikato Times, Volume XX, Issue 1714, 30 June 1883, Page 3

THE FINANCIAL STATEMENT.

~* ■ TnE following iB a greatly condensed report of the concluding portion of the statement :—' Wo are now paying not less than L 2,000,000 a year for inteiest to non residents. In other words, rather more than one-third of our exports do not belong to us. Our exports for the last three years have been L 6,352,002, 352,002 in 1880, 1^,000,860 in 1881, and L(i,035,000 in 1832 ; while our impoits for the same years have been LG,102,011, L 7,437,943, and L 5.609.270 respectively. Our exports for 1880 were L0,3.">2,G02, and for ISB2 L6, (557,008, an increase of J,393,316. Our imports for 1880 were L 6,162,011,, 162,011, and for ISS2 L 5,609,270, an increase of L 2,447,239. Arc thcie any real giounds to account for the piescnt commctcial depression, which undoubtedly exists over a large pai t of the colony, or from any deduction which cm be fairly drawn from the figuies I have just given, to justify us in taking a gloomy view of our future prospects '! To that question, Sir, my answer is most emphatic. I say distinctly, atter a most caicfnl eonsideiation of the whole condition of the country, that there are not only no real giounds for taking a despondent view of our position, but on the contrary there is much ieas.on to justify us in looking forward with confidence to a future of great promise. I now come, sir, to the consideration of tlie expenditure of the otdinaiy revenue of the Consolidated Fund for the current year. As regards peimnncnt charges, the amount estimated to be expended under this head during the current year is £1,645,694, of which £1,367,430 is for interest and sinking fund, amounting respectively to £1,30!), 030 antU2,j7,so», that is to say, we shall pay L 1,309,930,, 309,930, to the public ci editors, ;>nd set aside L 257.500 dining the year for the lcdemption of our btbt. The remaining percliari'ps on the estimates amount to L7B, 2(!4, consisting of the civil list, L 29.750 ; pensions, civil and militaiy, L27.G14, ; other charges, L 20,573. The amount of appiopmtions pioposed for the year is L 2, 013,802, as against L 1,997,098, 997, 098 actually expended last year, and L 1,608,868, 608,868 the year bufoie. Thc-o figures show that our actual lequireiuents last year vvi<* gi eater than tho-e of the year" before by L 295.230, and that this year we proposed an additional expendituiK of L 15.704, thus making the estirAl expeiuliturc fot tlio cut tent je.n goiter by L3K>,<):H than the actual expendituie ot the ye.us 1882-82. The leorganih'ition ot the ( ml Sciviro is no doubt a woi k of considc iable ciifhculty, and it is possible, aftei thoiough consideration by tlic comiuiUcc, thuio may not, bi; time to cany a lull this session, IhK I hope yet thru- will \tv. 1 have now, Mr Hamlin, to bung to the notice of the eommitlee the estimated revenue for the ycai 1883. T anticipate that we shiill at-cive a total oidinaiy revenue of L 3,373,800, 373, 800 lor the curt flit year, esclushe ol land s.ilo^, if our taxation remains unalteied. I have thought it prudent not to incieasc the estimated leceipts fium Customs duties uioie than L 20,000 above the estimate of kbt year, but I hope, looking to all the cucumBtances of the colony, so far ab it is possible to do so in advance, we mnj reasonably espect to receive L 1,320,000, 320,000 fiom the duties. I have also estimated an increase of LBOOO on Stamps, L7OCO on Telegraph receipts, and LIS,OOO on the Ptoperty tax undei the new valuation. I estimate then the total revenue at L 3,573,890, to which I add the balance, L3"v">l9, Inch stood to our credit at 31st Mai eh last, and get the 311111 of L 3,600,339 as the total amount available for the sei vices of the year. Now the total levciuu: received last year Mas L 3,073.933,, 073. 933, including the balance with v Inch the yeai began. Hon. membeis will, thcicfoie, see. tl.at out ways md means for the cuuent year aio less than those of last yeai b\ L(it,3Sl The estimated levenne foi thisvcai exceeds that ot last by L 13.550 ; Imt the ciedit balance w ith which v\ c bevan this yen h less so that as I have mi id otu total ways and immis is le-rs bv L 64,384. It should also be lemembeied that tin* incicase 111 the iec<ipts horn lailways this year is only obtained by the neceMi v addition to the expciiditme of U 5,187, 187 lor their wOlw 01 king expend and mninteu ancp, and it must also fmlhei be borne in mind by the committee that it was only in consequence of the large suiplus on the 31&t Alaich, 18S2, that the whole of the cost of the Aimed Constabulary was foi the iiist time charged against the consolidated levenues. I have alieady •shown the estimates of cxpenditme as L3,(i61,20(i. Tlieic m ill thcicfoie be a delicit of 152,14/, as to the means of meeting winch I will speak picscutly. The estimate expundituio ehaigeable apunst the land salei fund us as follows : — .Kor chaigcs lived by Acts of the Gencial Assembly, L30,6 ( J9 ; tor the Ciown Lands, Suivcy, <uul Mines Depaitmunts, L 137.259 ; and foi latco on Ciown Lands Lio,ooo. amounting on the whole to L 233.880. The leceipts fiom land sales are estimated at L 273.600 tor the cmie-it \ear. To thi-* amount must be added the balance standing to the 01 edit of the fund on 31st Mai ch la&t, L86,0()4. making the total estimated receipts for the year L 362,165. I)cdu< ting fiom this the estimated expondituie. we obtain a. &i\iplm of L 128,284, against which, however, is ehaigeable Ll" 00,000, payable to main loads account loi la->t\,eni. Tlicie is theiefoie only available, if the above estimate^ aie e-tnicct, L"2S,2St for tlie main loads account iindi?! 1 the Roads and Biidgcs Con^tuiction Act for the cut 1 cut year. I shall have to icfer to tliis subject again bcfoie I conclude. I have said, Mi llaudin, that the estimated cNpendituie for the year is L3,(i(il,i9»", and that witliout iuitliei •taxation the estimated revenue is only L 3,609,319. It is evident, thcicfoie, that we must cither deei ease our expendituie or ineicasc 0111 1 even ue r J'he Govuinment sec no piospect, aftei c.neful con&ideiation of the subject, of icducing cxpcnditiue for tliis year lielow the. amount estimated, whatever wo may hope for from the ie, oiganisatiou of the Civil Service to which 1 have alieady lcfciicd. Tlieie icniaiui-, tlieiefoic, as the only alternative, increased taxation 01 chaiging some sen ices on loan. The latter course the Government are not prepaied to lecommcnd. I shall therefore propose an increase of tlie piopmtytax of one farthing in the pound, and tliis I estimate to produce LSo.OOO. Adding this amount then to the estimated revenue L 3,699,349,, 699, 349, we get a total revenue of L 3,094,349., 094,349. And subtracting irony this our estimated expenditure L3,(w1,496, we obtain a probable surplus 0A(t32,553 on the 31st March, ISS4. l\«is not as large a margin as might be desirable, but the fact of its smallness ' wilr no doubt render the Government even more careful than heretofore in the "^pependiture of the votes authorised by this House, and will I trust, ensure the assistance of the House being given to the Government in resisting any extraordinary proposal for expenditure which maybe submitted for its consideration. I have already said, Sir, that the amount available from the proceeds of the land sales after the necessary charge for expenditure on main roads, under the Roads and Bridges Construction Act, have been deducted, will only be L 25 ,284. With reference to the opening up land before sale, hon. members will recollect that L 200.000 was placed on the schedule of the last three million loan for this purpose. Of this LSO,OOO in round numbers, was spent last year. In conclusion, allow me to say that, notwithstanding the existence of some commercial depression in parts of the colony, the result of influences of which I have endeavoured to afford an explanation in my previous remarks, yet the steady growth of essential industries, tho gradual improvement of our international c6trimerce, the rapid and spontaneous increase of commercial facilities by means of fine fleets of sailing and steam ships, the establishment of an export trade in frozen yaeat mi ottietr produce, the en-

j couragemcnt afforded to settlement of the country in small holdings, .and the prospect of nn early and complete solution of ' those questions which have seemed long delayed, the restoration of a large section | of the native population to our rnle, are considerations which justify a sober confidence in the future, and encourage the Legislature to persevere in the course which it has followed with such advantage to the colony of acaieful and methodical finance, of a just and firm but concihtory native policy, and of the settlement of the land in such holdings as will promote its occupation by the people.

A Constouknttal young 1 fop asked an aprod countiy s-cxton if tho ringing of a bell did not put. him in mind of his I.itlcr end " No, Mr, "replied the grim old fjr.ivedigger, "bnt thercpo puts me in mind of youis." A.\ eloquent brochure by the Countess de Clasparin, in which she denounces the methods of working adopted by the Salvation Ai my, is h.iving an immense sale on the continent, and the venerable authoi ess has received a letter of thanks from a laige number of Fieneh Protestants. Alter her husband's death she settled at Geneva, for the sake of loligious companionship and sympathy; and it is believed that her hostility to the Salvation Army has influenced the decisions of the throe Cantons in the case of Miss llooth and Mis« Chailcswoith. The Countess declares m her pamphlet tl at the " S " on the Salvationist's collar should be taken as standing for Satan. Does Ttci. Brj, Iv.tukj: Gkai'KS ?— lt has long been believed, and is now mm ersaly accepted as a fact, that the bee destloysgiapcs.iiidothci ftuits I liavc watched the little woikcis tor ycaisand have been loath to believe it. lob&ctved long ngo that they nc\ 01 attack sound grape s But w hen defceti\ c, or split as the lcsult of a rainy spell, they Mould then suck out the juices. ]inmg unable to convince otheia of the h.umlcsMicss of the insect in any otluv way, I devised for that purpose the following c.xpeiiment, which any one may try tor himself. 1 placed at the mouth of tho hives bunches of scveial \anoties of thm-skimied giapes, and for days, although (he bees weio constantly daw ling ovei them, not n beiiy was inpiied. 1 th<n punctmed halt the homes on each bunch, and msfnntly tlie bees went to woik on all so piuicfcuied, m .1 >hoit time 'iicUing them diy. The lemaindci of tlio liei lies weie untouched and icinaiin d ao until punotuied by me, when they in tuin wcic attacked as piomptlv as the loiiuer. Thy expi'ri | mem domonsti.ites that it i.s necessary foi llic grape to h.ne been pieviouslv in|iiM(l so as to allow (Midat'on of pueo ; I othci m iso the bee will not molest it. — fjt'ienlijic Tin. Punr oi \\t\\ i ni' — A ficsh, and to Kngland m |.niticulai a somewhat sia Lling, pioof of the commoicial cntoi pi isc ot Belgium is furnished by the yiga'itic *-oal( upon which the Antwosp Docks aie licing lcconsti acted. .Shite 1830 foity-nino millions of fiancs have been spent in linpioving tlic^o dock, and now the Belgian (Jo\ eminent has sanctioned a fuither grant of two and a milliter million pounds for their enlaigement into what will lie pi.ictie.illy a new port of cnoi mous extent The quay is to be two miles long and about 400 ft. vide, while the waterway will be lLlOft, \\idc, with a unitoim depth of 2Sft. The line of quays is to be coveted with •a-aiianes and warehouses, and it is estimated that space will be afloided for bei thing ot fifty Atlantic steamcis at once. The inciciisc in the tiadeof Antwoip, v Inch lias been foui times as lapid dining the past forty years as that of Ln erpool, fully justifies this immcJisc outlay in developing its lefouices. The Duke of Wellington once said that ■whoever lield tho poit of Antvvcip " held a pistol at the head of England." uud Napoleon coneutiod so completely in this ODinion that it was he who took the litst steps to extend its shipping aeeomodal.ioii. The opening ot the >SL Uothaid I'ailway plates Iklgium in an extioincly favoniabh j position with legaid to traflic fiom the East (or England and Ameiica. and, even as it is, Antweip has mteifued to a veiy laige extent with Liverpool m Atlantic earning tiadc. Theie can be no question that th' 1 completion or the new woiks viill still inoic sonou>ly .ifloct tho piospciity of the gicat Lancashiic seajioit. ]iiiy fhe liest revving machines, packed m ln)\tv, c .it l i.i trt pml Home MinlMi, £.! Winti,,/,! 10^ Wtitlmm. /;nos , ] i isti 1 ,mcl Ro'.siii.m s, / 1 10> in walnut imi i , /,.') lvi 1!'-mn^-m.u lviu '-, /.T, Sinjjoi's, Howes ll.ms', Jiinis', St.ind.uil, .uid .ill the bitUr il.isiisot nni mm s m >.l xk. L.i>-li, oi tl « v icji i ecl ]) h ClnmluTs 1 Wholesale ..ind Rct.ul M.tclimo Depot, 70, Quw n-stiect opposite the Bank of Now /c.il mrl.