FINANCIAL STATEMENT, (In Committee of Ways and Means, July 4th, 1876.) BY THE COLONIAL TREASURER, THE HONORABLE SIR JULIUS VOGEL.

Appendix to the Journals of the House of Representatives, 1876 Session I, B-02

8.—2

\876. NEW ZEALAND.

FINANCIAL STATEMENT, (In Committee of Ways and Means, July 4th, 1876.) BY THE COLONIAL TREASURER, THE HONORABLE SIR JULIUS VOGEL.

INTEODUCTIOK Mr. O'Rorke, — It will not, I hope, be considered that, because Major Atkinson is my colleague, I am prevented from joining in the general expression of admiration of the Financial Statement which he made last year. The regret I felt at my forced absence was very much lessened when I read the Budget my colleague produced. The singularly clear and lucid explanations which he gave left no necessary information unsupplied. lie vindicated the past whilst he justified the future policy of the Government. I could not say less than this, for, notwithstanding our relation as colleagues, the Committee will readily sympathize with my feelings of personal indebtedness to Major Atkinson, who came forward at comparatively short notice to perform for me a difficult task. GENEEAL SCHEME OF THE BUDGET. I propose to continue on this occasion the scheme of the Budget of last year. That scheme, the Committee will have no difficulty in recognizing, was to simplify our financial arrangements, and to place them on the most intelligible footing. My proposals this evening will be in the direction of making more free from complication our system of finance. It has often been said that the Abolition of the Provinces, the great question which agitates the mind of the colony, has been rendered necessary by financial reasons. It is, therefore, natural that its introduction to the House this Session should be through the medium of the Budget. When our financial proposals are known, the various'measures rendered necessary by Abolition can be more readily considered and understood. And here let me state two things : —Firstly, we do not consider the question of Abolition undecided. "We regard it as beyond all doubt settled that the provinces shall cease to exist. Secondly, we consider that Abolition will impose on the Government many difficulties; and we shall ask the Assembly to aid us by passing such measures as may be necessary to give I—B. 2.

Last year's Statement. 4

Scheme of simplification to be continued.

Abolition naturally introduced through Budget.

8.—2.

2

effect to the legislation of last Session. No less shall we seek the co-operation of the Assembly by asking it to refrain from hurried legislation on several subjectswhich may be left undealt with for a time, although admittedly they require attention. "We consider the Financial Statement a necessary prelude to the work of the Session. It was prepared with the intention that it should be delivered before the close of the financial year. It has been delayed until four days after that time. Nevertheless, the figures are not the actual results of the completed transactions of the year; to have waited for them would have involved considerable delay. My colleague made the Statement last session as quickly as possible after he received the exact figures, but he was not able to do it until the 30th July ; nor should I have been if I had waited to receive them. For all practical purposes, the estimates of the unascertained expenditure and revenue will be found so nearly correct as to be sufficient for any present purpose of discussion or conclusion. I once before produced the Budget binder similar circumstances, and the difficulties it entailed on me were such that I think I told the Committee I would not again be tempted to the task. It is, however, apparent to me that it is not only necessary this year to adopt this plan, but that it will be so in future. Probably it will be uniformly convenient for the Assembly to meet before the close of the financial year, and equally convenient will it be that the Financial Statement should be made before the accounts of the completed year can be produced. I trust, however, that the difficulties before me may be lightened by your sympathy. One thing particularly I hope will be consented to—indeed, it will be as great a relief to honorable members as to myself —that, after I have once explained that part of the year's results are actually known and part estimated, I may be allowed to speak of them as actual, without constant reference to their being partly estimated. My endeavour will be, not to put before honorable members a number of details, but to give a comprehensive view of the present position of the colony, and to explain our financial proposals for the future. The Tables usually presented with the Financial Statement cannot be supplied this evening. To have had them prepared before the end of the financial year would have made it necessary to use a number of estimated results. I have thought it better, as in Tables of the kind exactness is important, to postpone their preparation until after the end of the financial year. As soon as possible they will be laid before the Assembly.

Statement prepared before end of Financial Tear:

Therefore, results partly estimated.

Endeavour will be to give a comprehensive view, rather than details of accounts.

LOANS. Honorable members were informed last ,year that it was proposed to dispose of the unsold balances of various loans, excepting the guaranteed debentures, which are used^as a convenient reserve fund. In pursuance of this determination, the Agent-General and Crown Agents jointly were authorized to sell some £1,250,000 unguaranteed debentures under various Acts. They reported a sale to be impracticable at previous rates, and instructions were then given to them to effect a temporary loan on the securities. They are now negotiating for a twelve months' loan of £1,000,000 on short-dated debentures, and we are led to believe the transaction will be completed on the receipt of the

±1,250,000 Unguaranteed Debenture?);

Not to bo sold, but temporary loan on them obtained.

3

8.—2

advice that the necessary authority has been issued on this side. It would probably have been completed before now, but for the interruption to cable communication. It was provided last year, by " The Immigration and Public Works Appropriation Act,lß7s,"that the unexpended balances of the Immigrationand Public Works Loans and the General Purposes Loan of 1873, should be combined in one account, to be called the Public Works Account; and from the Ways and Means so provided, the expenditure authorized by the Immigration and Public Works Appropriation Act was to be made. I will proceed to state, under their several heads, the amount which it is estimated will have been received into the account during the current year, the sums appropriated, and the amount expended in resnect of those appropriations up to the 30th of June, the probable balance in hand on that date, and the amount of Ways and Means derivable from further sales of debentures issuable under the Loans referred to, and from miscellaneons items recoverable for credit of the account. If honorable members will turn to Table G- accompanying the Financial Statement made by my honorable colleague last Session, they will find the credit balances of the Immigration and Public Works and General Purposes Loans set down as £2,187,088 11s. Bd. and £67,062 Bs. 4d. respectively. These sums added together make a total of £2,254,151, from which I will deduct £1,050,000, the amount of drafts on the Loan Agents outstanding on the 30th of June, 1875 (which drafts, I may state in passing, have all been retired), and commence my statement of the Public Works Account with the balance of £1,204,151 then remaining. The receipts of the year consists of— £ s. d. Proceeds of Sales of Debentures in London, being the balance receivable on account of the Pour Million Loan ... 1,387,884 0 0 Part proceeds of Drafts for £175,000 on Loan Agents, London... 40,000 0 0 Proceeds of Sales of Bonds in the Colony ... ... 8,747 0 0 Moiety of Stamp Duties transferred from Revenue... ... 56,187 2 5 Eecoveries on Account of Advances made from Public "Works Account, namely— From Confiscated Lands Account ... ... ... 20,500 0 0 Prom Eailways "Working Account ... ... ... 3,000 0 0 Prom Provinces, for Advances made for Immigrants' Cottages 3,000 0 0 Prom the Province of Otago on Account of Advances made under " The Otago Provincial Public Works Advances Act, 1874 " 5,208 6 8 These several sums add to ... ... ... ... 1,524,526 9 1 But to this total of receipts I will add the nominal value of the unsold Guaranteed Debentures in London, which may be regarded as cash, and upon which advances have been from time to time obtained, as occasion has required ... 800,000 0 0 These receipts aggregate ... ... ... ... 2,324,526 9 1 And added to the balance with which, we commenced the year ... 1,204,151 0 0 Make up a total of ... ... ... ... 3,528,677 9 1 and represent the "Ways and Means for Public Works and Immigration purposes on which we have operated during the year. The expenditure has amounted to £2,984,204 14s. 10d., which is less by £918,021 os. sd. than the amount appropriated for the year by the Public Works Appropriation Act.

Operations on the Publio Works Account:

Ways and Means, with Appropriations and Expenditure under it.

4

8.—2

It will thus be seen that the expenditure has been kept much within the amount authorized. "When difficulty in negotiating the balances of the loans became apparent, the Minister for Public Works was asked by the Government to retard for a time the operations of his department; and the only substantial excess in any item of expenditure for the year, under the Act mentioned, has been for Native Land Purchases, a quite inadequate vote having been taken for that service. I present in tabulated form a statement showing the expenditure contrasted with the estimated expenditure under the various heads of the Public Works Account:—

Operations of Public Works Department have b#ea retarded.

EXPENDITUR, PUBLIC WORKS ACCOUNT, 1875-76.

Public Woeks Account, 1875-76.

In the "Ways and Means, I have taken credit for the full nominal amount of the guaranteed bonds. If sold, they would realize some £30,000 premium; but I do not take this premium into account, because probably we shall avoid at present actually disposing of them. Taking the nominal value withmit premium into account, a balance of £544,472145. 3d. remains available for expenditure. There will, in addition, be part of the proceeds of the unguaranteed bonds, on which, as I have said, a temporary advance is now being obtained. If the unguaranteed bonds were sold, I estimate that about £670,000 of the proceeds would be available for further expenditure on public works and immigration. I arrive at this result as follows :—Of the total amount, £1,250,000, of unguaranteed debentures, £250,000 belong to the Defence Loan, leaving £1,000,000 on account of Public "Works, subject to the repayment of an advance of £200,000, which, as described by my colleague last year, was obtained from the Bank. After deducting cost of negotiation, paying the advance to the Bank, and allowing for £40,000 already drawn, about £670,000, as I have said, will be left. There are, besides, sums due to the Public Works Account for advances of various kinds, amounting to £270,814

Net Expenditure to 31ST March, with Estimate added for June Quarter. DlFFl :rences. Expenditure. Expenditure as Estimated. In Excess of Estimate. Less than Estimate. £ s- d. 383.831 9 2 18,290 19 3 1,620,325 o 6 49.395 » IO 126,392 13 3 97,465 10 6 2.433 8 3 37,071 19 7 67,767 12 9 41,920 18 11 138,170 19 4 £ s- d445.O48 IS 8 17,642 10 o 2,342,398 10 6 62,275 o 3 IO3.55O o o 192,130 o o 3.325 J5 4 29,700 o o 112,656 o o 82,000 o o 196.935 18 II £ s. d. £ s. d. 61,217 6 6 Class I.—Immigration ... ... ... II.—Departmental Public Works III. —Railways IV.—Roads V.—Land Purchases VI.—Waterworks VII.—Coal Mines VIII.—Telegraph IX.—Public Buildings X. —Lighthouses ... ... ■ ... XI.—Charges raising Loan 648 9 3 22,842 13 3 722,073 10 o 12,879 8 s 94,664 9 6 892 7 1 7.371 19 7 44,888 7 3 40,079 1 1 58,764 19 7 Services not included in Immigration and Public Works Appropriation Act — Railways General Account, distributable amongst the several Railways Otago Provincial Public Works Advances Act Miscellaneous Advances, Native Lands Acts Account 2,583,066 3 4 25,878 10 o 46,6:58 12 e, 38 4 6 14,000 o o 3,587,662 10 8 30,863 2 1 25,878 10 o 46,658 12 t, 38 4 6 14,000 o o I.O35.459 9 5 Temporary Advances Consolidated Fund repaid Redemption of short-dated Debentures 2,669,641 10 3 277»l63 4 7 37,400 o o 3,587,662 10 8 117,438 9 o i>°35.459 9 5 2,984,204 14 10 3,587,662 10 8 Deduct Excess 117,438 9 o Net Appropriations Unexpended ... 9l8,O2I ° 5

5

8.—2

7s. lid.; which, added to the sums just stated, show £1,485,287 2s. 2d. available for expenditure on public works when the unguaranteed bonds are sold, the guaranteed bonds taken into account to their nominal value exclusive of premium, and the various advances repaid. I propose to ask authority to make provision for repaying the debts due by the provinces. I shall further on state the provision we propose to make for future expenditure on public works and immigration. Meanwhile, I set out separately the items just referred to : —• £ s. d. Balance, after deducting Expenditure for the year from the Eeceipts, including the value of the Guaranteed Bonds ... ... 544,472 14 3 Balance available for further expenditure if Unguaranteed Debentures are sold, about ... ... ... 670,000 0 0 Prom the Provinces ... ... ... £242,503 14 9 From Greymouth Corporation ... ... 1,750 11 7 From Water Eace Companies ... ... 26,560 1 7 270,814 7 11 Total ... ... ... ...£1,485,287 2 2 THE DEFENCE LOAN. It was stated by my honorable colleague last year, that the unraised balance of this loan on the 30th June, 1875, amounted to £179,700, a sum which has since been augmented by the redemption of £70,300 of short-dated bonds held by the Trust Fund, and re-issuable under the Act, to £250,000, which latter sum represents a part of the £1,250,000 referred to in my remarks on the Public Works Account as having been sent to London for negotiation. The balance to credit of the Defence Loan at the commencement of the current financial year was £35,440 4s. 10d., to which we have added, as the receipts of the year, a sum of £135,000, for which we have drawn on London against the debentures sent Home for negotiation. That £135,000, added to the balance with which we commenced the year, makes up a total of £170,440 4s. lOd. on the receipt side of the account. Against this sum we have expended as follows : — £ s. d. For the redemption of £70,300 short-dated debentures ... 70,000 0 0 , For payment to the New Zealand Settlements Act Account ... ... ... ... 24,500 0 0 For a re-payment made to the Public Works Account ... 20,500 0 0 For Contingent Defence and Liabilities ... ... 34,840 0 1 For Koads in the North Island ... ... 15,496 17 8 £165,336 17 9 Of these items, the second and third represent the precise sums voted. Of the item Contingent Defence, £5,659 19s. lid. remains unexpended; and the item Roads is also less by £2,503 2s. 4d. than the amount appropriated. The total of these items, £165,336 17s. 9d., will represent the expenditure of the year chargeable on the Defence Loan, and will leave a balance of £5,103 7s. Id. at credit of the account'on the 30th June. This balance will be augmented by the proceeds of the £250,000 bonds sent Home for sale, minus the £135,000 already drawn for. I am unable to state exactly the net amount of the proceeds. Probably, after deducting the amount drawn against the debentures, and allowing

Amount available for Expenditure on Public Works.

Defence Loan:

Expenditure,

8.—2

6

for the discount, there will remain about £90,000, which amount will be subject to a payment of £50,000 to the Bank of New Zealand for an advance made by that Bank in May, 1875, explained by my colleague last year. Of the whole Defence Loan, then, there is probably £40,000 available for expenditure. TOTAL PUBLIC DEBT, INCLUDING TREASURY BILLS. The gross Public Debt of the Colony (including Treasury Bills), when the balance of all loans now authorized is raised, will be £19,543,194; and the annual charge thereon for interest and sinking fund, £1,035,164. Deducting the accrued sinking fund, £1,229,200, from the principal sum, the amount of liability is £18,313,994. These figures include the Provincial indebtedness, which, irrespective of the debt for railways, amounts to about £3,500,000, involving an annual charge of about £220,000. As the provincial debts are charged on the Land Fund of the different provinces. we have the charge on the Consolidated Revenue reduced by the amount named, and the result stands as an annual charge of about £815,000 on the Consolidated Revenue, and £220,000 on the Land Revenne. I use the word "about," because the total Provincial indebtedness cannot be exactly defined: it will be varied by the liabilities which will have to be met, and by the reductions consequent upon the acquirement of the railways constructed out of Provincial Loans. THE TEAR 1874-75. My colleague estimated last Session that, as the result of the operations of the year 1874-75, there would be, after meeting all liabilities and realizing all assets, a surplus of £120,000; but the surplus, when the accounts of the year are finally closed, including a sum of £6,600 for receipts not anticipated, will, it is now estimated, amount to £63,000. The difference has arisen from the fact that assets amounting to £61,600 have not yet been realized. With the exception of £600, an over-estimated liability of the Imperial Government, the whole of the amount is, however, recoverable, and for convenience sake, these unrealized assets of 1874-75 are carried on to the current year. My colleague's anticipations as to the amount of the liabilities of 1874-75 have proved nearly correct; there being an excess of £1,700 only. Instead, therefore, of beginning the year with a surplus of £120,000, the credit balance will have amounted to £63,000 only., and there are assets representing £61,000 yet to be realized. THE YEAR 1875-76. I ask honorable members to remember the explanation I have already given, that the figures I use in this statement, as to the results of the current year, include estimates for the latter portion of it. In a very few days, I shall be able to supply the actual figures; but I think that those I shall state may be accepted as accurate for all practical purposes, and that there will not be a difference sufficient materially to alter or modify the financial proposals of the Government.

Total Debt, and conseqnent charge.

Balance from year 1874-75.

Tear 1875-76.

7

8.—2

I put before the Committee a statement of the actual and the estimated expenditure for the year:—

Explanation of large apparent saying.

Eailway Expenditure and Keceipts.

Estimated and Actttal Expenditure, 1875-76.

It will be seen that there is a considerable difference between the expenditure as estimated and that which it is now assumed will become chargeable. A large portion of the difference arises from an over-estimate of the amount payable under the head of Permanent Charges. It will be within the knowledge of honorable members that an Act was passed last Session to do away with the Reserve Account; and also providing that the interest and sinking fund payable in London shall be charged in the accounts of the colony on the day the payment has to be made. Hitherto, the interest and sinking fund due on the 15th of July in London, has been treated as a liability of the previous financial year ending the 30th of June. But owing to the provisions of the Act to which I have referred, this will only be a liability on the day it falls due ; consequently, £123,800 for interest and sinking fund due on the 15th of July is not included in the year's expenditure or liabilities, although provision was made for it in the last Estimates, and there is an apparent saving to that amount. Beyond that, there is a saving of £8,400 from an over-estimate of the amounts required to be paid on account of Permanent Charges. There is a saving on the item " Railways." It will also be found that the revenue under the same head has produced less than was anticipated; in other words, there has been a less length of railway completed and open for traffic than was expected. The excess of receipts over expenditure on this account fairly upholds the anticipation formed last year. It was then estimated that the receipts of the year would amount to £120,000, and the expenditure to £100,000. The receipts I now set down as £57,000, and the expenditure as £50,000. It is to be remem-

Net Expenditure to 27TH May, with Estimate added for June Month. Diffei 1ENCES. Heads of Expenditure. Expenditure AS Estimated. In Excess of Estimate. Less than Estimate. £ s. d. 28,738 9 8 £ s. d. 29,750 o o £ s. d. £ s. d. i,oii 10 4 Civil List ... Permanent Charges— Interest and Sinking Fund Under Acts of the Legislature „ „ ,, „ State Forests... Appropriations— Class I.—Public Departments II.—Law and Justice III.—Postal and Telegraphic ... IV. —Customs V. —Miscellaneous... VI.—Native VII.—Militia and Volunteers ... VIII.—Public Domains and Buildings ... IX.—Railways X.—■ Armed Constabulary XI. —Municipalities, Road Boards, &c... Railway Stores Account... ,., 598,638 6 9 44,050 19 8 15,000 o o 81,631 12 6 7!.2S9 7 1 217,461 5 6 53,529 11 11 59,663 19 10 39,005 14 1 22,401 14 2 22,838 13 6 50,160 9 11 91,408 18 i 56,016 11 o 20,000 o o 742,807 10 o 47,110 15 6 76.731 5 ' 67,35s is ° 222,979 o o 58,292 14 6 49.934 15 1 37.'3i 9 2 22,885 o o 29.3SI 4 o 100,814 6 o 91,000 o o 80,000 o o 20,000 o o 15,000 o o 4,9°° 7 5 3.903 '2 1 144,169 3 3 3,059 15 10 5,5^ l4 6 4,763 2 7 9,729 4 9 1,874 4 11 483 5 10 6,512 10 6 50,653 16 1 408 18 1 23.983 9 ° Capitation and Special Allowances Moiety of Stamp Duties Services not provided for Refunds of Revenue Provincial Public Works Advances Act... Provincial Appropriations Extension Act Advances, Land Fund, Auckland 276,825 o o 56,187 2 5 2,180 14 8 3.785 18 10 48,500 o o 92,000 o o 201 4 5 276,825 o o 62,500 o o 48,000 o o 92,000 o o 2,180 14 8 3,785 18 10 500 o o 6,312 17 7 201 4 5 Totals... ... ... / ... I»95 I>48S J4 ° 2,155.468 14 4 42,484 5 2 246,467 S 6 Deduct amount in excess of Estimate 42,484 s 2 Net amount less than Estimate 203,983 o 4

8.—2.

8

bered that these railways do not include the railways constructed by the Colonial Government, and worked by the Provinces of Otago and Canterbury under a temporary arrangement. Amongst the items of expenditure is one of £15,000 on account of State Forests. By some oversight, £5,000 which ought to have been set apart for the year ending the 30th June, 1875, was not reserved; and I have caused it to benow added to the£lo,ooo for the current year. lam of opinion that we should be very unwise if we allowed any consideration to cause us to fail in reserving the money which has been appropriated for this purpose. Experience of almost a world-wide character has shown the immense importance of attending to the forests of a country; and I am convinced that, before many years have passed, questions which now seem to us of great moment will have sunk into insignificance compared with the interest which will be felt in the progress and maintenance of the forests of the colony. The expenditure includes £140,700 Advances to Provinces during the year under various Acts. The total expenditure out of Consolidated Revenue for which it is estimated the provinces were, at the end of the year, liable, is about £200,000, which sum includes the balance of expenditure under "The Provincial Public Works Advances Act, 1874," and " The Provincial Appropriations Extension Act, 1875," which the Government have undertaken. On the other hand, under the powers given by the two Acts I have named, the Government have negotiated £172,000 of Treasury Bills, so that the provinces are indebted to the colony in the amount of those bills and whatever balances remained unrecovered at the end of the year. It is believed that the expenditure will cover all the liabilities of the year; but it is impossible to state so soon after the close of the year what amount under each head had actually been disbursed up to the 30th June, and what will now have to be paid as liabilities. REVENUE, 1875-76. I place before the Committee tabulated statements (partly estimated) of the receipts from revenue during 1875-76, together with the estimate for the year and the absolute receipts during 1874-75. The revenue from Railways during the current year is shown separately, in order not to disturb the comparison with the previous year's revenue: —

State Forests.

Advances to Prcmneeß.

EeTenue, 1875-76,

DlFFF.I FENCES. Heads of Receipt. Revenue to 27TH May, with Estimate ADDED for June Munth. Revenue as Estimated. In Excess of Estimate. Less than Estimate. Customs —Duties, Rents, Seizures, &c. Bonded Stores Fees Stamp Duties Postal Telegraphic Judicial Fees and Fines Registration of Land „ Deeds „ Births, Deaths, and Marriages ... Fees on Issue of Crown Grants „ Miscellaneous Incidental Receipts £ s d. 1,225,747 16 10 5,250 10 8 16,417 o 1 112,388 15 11 93,162 14 3 63,038 6 7 37.993 2 11 12,184 4 3 15.453 3 4 5.231 7 4 4,410 1 2 2.397 1 1 52,056 8 2 £ s- d. 1,325,000 o o 5,000 o o 16,750 o o 125,000 o o 91,000 o o 62,000 o o 32,000 o o 13,500 o o 16,750 o o 5,000 o o 6,000 o o 2,700 o o 65,000 o o £ s. d. £ «• d99.25 2 3 2 250 10 8 332 19 11 12,611 4 1 2,162 14 3 1,038 6 '7 5.993 2 11 «i3«j «| 9 1,296 16 8 231 7 4 1,589 18 10 302 18 11 12,943 11 10 Deduct Increase I.64S.73O 12 7 1,765,700 o o 9,676 1 9 129,645 9 2 9,676 1 9 Net amount less than Estimate 119,969 7 £ Railways ... 57.459 » 4 120,000 O O

9

8.—2

You will observe that, whilst there has been an increase of £29,319 over 1874-75, the current year's revenue is £119,969 less than was estimated, apart from the item of Railways, to Avhich I have already made separate reference. That my colleague should have made an over-estimate last Session was not unnatural. The large number of emigrants brought out during the previous year necessitated the employment of many ships; they brought out considerable cargo —more, perhaps, than was required for current consumption. On much of this excess merchants probably found it cheaper to pay duty at once than to leave the goods in bond. Hence, no doubt, there was an accumulation of stocks at the end of 1874-75, and, instead of the usual increase of Customs revenue during the year succeeding, there is only a small increase of £2,100. I do not think, then, that there is ground for surprise or dissatisfaction at the result, which, if less than estimated, still shows an increase of £29,319 on the year preceding. The item Stamps has yielded much less than was estimated—£ll2,3oo, against £125,000; but there was an increase of £1,700 over 1874-75. It should be remembered, in explanation of the estimate not having being realized, that the House last Session declined to indorse several items of duty recommended by the Government, including one upon mortgages ; and that the rate of Succession Duty proposed was reduced by the House. In addition to the heavy advances which the Consolidated Revenue is under to the provinces, it has been under other advances which have been from time to time recouped. For example, at one period there was an advance of £45,000 to pay off Otago Debentures, pending the sale of an equivalent amount of Consolidated Debentures with which to take them up. The consequence has been, that the Consolidated Revenue has been under very heavy advances; and therefore advantage was taken of the provision made last year to allow of a temporary advance from the Public Works Fund to the Consolidated Revenue. That advance, lam glad to say, has been repaid. I state the annual totals of the Consolidated Revenue from 1870-71 to 1875-76, including for the year last mentioned the sum of £57,459 as Railway 2—B. 2.

Increase otct 1871-75.

Why estimate'made last Session has proved excessive.

Stamp Duties

Advances from Coiißoli dated Hevenue.

Heads of Receipt. Revenue of the Year 1874-1875. Revenue of the Year 1875-1876. Increase. Decrease. £ i- d. 1,223,614 3 2 4,872 10 2 I5.O9S 7 5 110,641 o 3 83.44S ' 4 55-552 2 9 32,263 14 10 11,521 7 o 15.833 2 O 4-845 8 3 6,459 ]6 6 ; 2,188 3 10 : 50,079 o 3 1 1,616,410 17 9 £ s. d. 1,225,747 16 10 5,250 10 8 16,417 o 1 112,388 15 11 93,162 14 3 63,038 6 7 37.993 2 11 12,184 4 3 iS.453 3 4 5.23i 7 4 4,410 1 2 2,397 1 1 52,056 8 2 i,64S.73o 12 7 £ s- d. 2,133 13 8 378 o 6 1,321 12 8 1.747 >S 8 9,717 12 11 7,486 3 10 5,729 8 1 662 17 3 £ *. d. Customs —Duties, Rents, Seizures, &c. Bonded Stores Fees Stamp Duties Postal Telegraphic Judicial Fees and Fines Registration of Land „ Deeds „ Births, &c. ... Fees on issue of Crown Grants „ Miscellaneous ... Incidental Receipts... 385 '9 ' 379 '8 8 208 17 3 1,977 7 » 31,749 8 10 2,049 15 4 Totals... 2,429 14 o Deduct Decrease 2,429 14 o Net Increase 29,319 14 10 Railways ... 57,459 » 4 I ...

8.—2

10

Receipts, an item which then appears in the Consolidated Revenue for the first time. The totals are as follows:— £ s. d. 1870-71 ... ... ... 936,188 510 1871-72 ... ... ... 1,031,082 18 7 1872-73 ... ... ... 1,119,904 3 4 1873-74 ... ... ... 1,420,216 17 3 1874-75 ... ... ... 1,605,002 16 5 1875-76 ... ... ... 1,703,190 311 The operations of the year may be epitomized thus : —The revenue collected to the 30th June will amount to £1,703,190 3s. lid., to which we have to add the receipts for interest on railways opened, £55,166 9s. 6d.; the amount raised by Treasury Bills, £172,000; and the assets of the years 1874-75 and 1875-76 yet to realize in excess of the amount repaid by Treasury Bills, £29,944 Is. These sums make up a total of £1,960,300 14s. 5d.; and adding thereto the realized surplus of the year 1875-76, £63,540 3s. 6d., we have a total of £2,023,840 17s. lid. on the receipt side of the account. Deducting from this the amount of the anticipated expenditure of the year, including all liabilities, £1,951,485 145., we have a surplus of £72,355 3s. lid. with which to commence the financial year 1876-77. THE LAND FUND. The Land Revenue of the year (exclusive of Gold Fields Revenue) will, it is estimated, amount to £836,725, inclusive of £23,200 of receipts from Confiscated Lands, and £3,300 for receipts under the Native Land Duties Act. For the purpose of comparison-with previous years, I quote the receipts since 1869-70 : — £ s. d. 1869-70 ... ... ... 209,623 3 6 1870-71 ... ... ... 208,091 5 0 1871-72 ... ... ... 336,311 0 6 1872-73 ... ... ... 889,642 14 1 1873-74 ... ... ... 1,066,744 7 3 1874-75 ... ... ... 773,265 17 9 1875-76 ... ... ... 836,725 0 0 THE PUBLIC TEUST FUND. The only items in this Fund which appear to call for special remark are the Government Insurance Account, and the Post Office Savings Bank Account. With regard to the first of these accounts, I may inform the Committee that the business of the Department has steadily increased during the year, and has fully maintained the ratio of former years. The total balance to the credit of the Annuities and Insurance account, including the value of investments held, is £109,967 12s. Id. The Report of the English Actuaries appointed to make the first quinquennial examination into the state of the Department will be laid before the House; and I think honorable members will come to the conclusion that it is exceedingly satisfactory. The surplus shown, after estimating the present value of liabilities and premiums, is about £12,000. The Actuaries explain, however, that they would not consider this sum divisible as profits. It should be remembered, in reading the Report, that the Actuaries evidently look upon the system here as based upon what is technically called " participating rates ;" but honorable members know that it is by no means the principle upon which the Government

onsolidated Revenue, 70-71 to 1875-76.

jpitome of yoar'B >perations.

iurplus at rommencelent of 1876-77.

rand Revenue, 1869-70 >1875-76.

rust Fund.

nnuities and Insurance ccount. First Quinuennial Examination: ctuariea' Report.

11

8.—2

Department is conducted, to charge higher rates for the purpose of affording a participation in profits. Insurance offices have commonly one rate for non-participating and another for participating policies. There is some object, or some advantage, I presume in this; hut it has always seemed to me that those who insure on the participating plan are asked to pay higher rates in order to constitute the profits of which they are to have a share. It has been clearly understood here from the first, that the principle of our insurance system was non-participating, and that the rates charged were the lowest consistent with safety. It is true, however, that the House, after the establishment of the Department generously agreed that if there should be such a profit as to justify Parliament in deciding that a certain sum could safely be taken out of the Insurance Account, it should not pass to the ordinary revenue of the country, but should be divided amongst the insurers. Still, I repeat, it has never been understood that our object was to charge high rates with the view of creating a fund for division. The Government propose, however, to defer to the opinions of the Actuaries, and to alter the rates to those based upon what is known as the Institute of Actuaries' Table. The Estimates I shall submit to the House for this department, will provide for more systematically dividing the country into districts for the purposes of Insurance business; and for the establishment of agencies throughout the country, in connection with the permanent Agents in each of the four principal cities of the colony. Before the receipt of the Actuaries' Report, the Government had decided to discontinue the Industrial Branch, and an Order in Council was issued for the purpose. It will be seen that this step is entirely in accordance with the recommendations of the Actuaries. Considering that the first five years of the existence of an Insurance institution is its most critical period, I think we may feel the greatest gratification at the result. Had it been necessary to come to the House for a vote to cover a small deficiency, I think honorable members, in recognition of the vast benefit which the system confers on the community, would have readily passed the amount. But as it is, we have this beneficent institution flourishing amongst us without any cost to the State. In respect to the Post Office Savings Banks, the Return alreadyin the hands of the Committee supplies very complete information. That Ileturn shows that during the calendar year 1875, the withdrawals had exceeded the deposits by a sum of £72,106. That this circumstance is not to be taken as an evidence of an inability to save, or disinclination on the part of the people to avail themselves of the use of the Banks, is manifested in the fact that the total number of deposits made exceeds those of the previous year by 3,502. The real cause of the excess in the amount of withdrawals over deposits is to be found in the high rate of interest for fixed deposits offered by the banks. This circumstance has induced the holders of deposits of large amounts to withdraw them from the Savings Bank for the purpose of investing them on the more profitable terms obtainable from the banks. There is at the present time a tendency towards an excess of deposits over withdrawals. FUTURE FINANCIAL ARRANGEMENTS. Before proceeding to the details of the Budget of the current year, it will be convenient to explain the views of the Government upon several subjects relating to which arrangements have to be made.

Actuaries' Report.

Modification oi rates.

Post Office Savings Bani.

8.—2

12

Honorable members are aware that the arrangements which were proposed last year require some modification. My colleague made proposals which all the then circumstances justified. But observation during the year has shown that some changes are necessary, others desirable. It is my duty to describe them; but I will first state the circumstances which render the changes desirable, and explain the financial conditions which we aim at establishing. Amongst the reasons that compel changes in the proposals of last year are, that the revenue has not reached the amount then estimated, and that I am not able to estimate such an increase for 1876-77 as will be needed to meet all the charges which it was then contemplated to impose. Some of those charges would be larger for this year than it was estimated they would be for the year which has just expired. I allude especially to the increase in the items, subsidies to municipalities and road districts, to the cost of education, if it is all to be charged to Consolidated Revenue, and to the increased loan charges. All these would be additions to the expenditure proposed last year, whilst there is not, as I have said, reason for estimating a corresponding addition to revenue. Then, the Government have come to the conclusion that there are insuperable difficulties in the way of continuing to charge the railways to the abolished provinces, keeping an account with each, and charging varying deficiencies to the Land Revenue of each. Such a plan is inconsistent with the economical working of the lines; it occasions complications in the accounts, stoppages of uncertain amounts of Land Revenue, and disputes producing the greatest annoyance even whilst the provinces exist; and with the provinces abolished, such evils would be largely increased. These reasons make changes necessary. The aim and the hope of the Government, in the changes to be proposed, are to take advantage of the information experience has supplied. The provinces have broken down because of their coming into conflict with the Colonial Government on many points, and especially on points of finance. Their doom was only a question of time, when it became obvious that they could not raise their own revenues; that they had to look to the General Government to supply deficiencies; and that they could not borrow without the colony becoming liable. I tried hard in 1873 to make it otherwise. I endeavoured to give them a separate finance; and I thought I had devised means by which they could borrow without the colony being liable. These efforts have all failed; and now we have to build up again more soundly, knowing, as we do, the faults we must avoid. It has been asked, Why should a province be denied the power of borrowing given to the smallest municipality ? The answer is, that municipalities can borrow without making the colony liable, and the provinces cannot. Another cause of the failure of the provinces was that within themselves a rending rivalry Was always creating distrust between the towns and country districts. Again, and not least in importance, the colony had to perform a number of works for the provinces, some of which they ought to have performed themselves, and with others they ought not to have been charged. It thus became impossible to tell to whom belonged various duties; and even if in theory the apportionment could have been determined, in practice the theory could not have been worked out. We have arrived, then, at three clear aims: The interests of the towns to be kept from conflicting with those of the country districts; the interests of

'ature financial arrangetents.

iaat year's proposals, o be modified.

Subsidies,

Uhnjt a

iVhy the provincial jystem broke down.

What must now be done.

J3.—2

13

both to be kept from conflict with those of the colony; and a separate system of finance for each. In other words, we shall be successful with the new institutions we propose, in proportion to the distinctness of the duties and the finance with which we endow them. To carry out these conditions, we have first to determine on having only one Legislature. Clearly, the risks of conflict increase with the number of bodies empowered to make laws; whilst there can be no hope of freedom from conflict except in the symmetry and consistency of a uniform legislation. We purpose, then, to constitute Districts—divorced from the towns, and not possessing powers of legislation, but endowed with clearly-defined duties, revenues, and authority to augment revenue. We shall call them Counties, and we aim at separating them from road districts, towns, and colony in regard to their duties and finance. With the finance I have chiefly to do; and the essence of our plan is, that the counties, the road districts, and the towns will not be able to pledge the credit of the colony, whilst their own credit and revenue will be sufficient to enable them to perform the work assigned to them. Mr. O'Rorke, I dreaded doing away with the provinces because I thought we should have to sit here in judgment on local works, and that gradually we should find creeping upon us the demoralizing system of mutual compromise called by the Americans " log-rolling." But we have avoided this difficulty. If our system be carried out, the name of any particular road or bridge— of any work, indeed, but the buildings for the Government services and the main railways of the country —should rarely be heard in this House: at least not for purposes of supplication, though it might be as the subject for congratulation, at the triumph of the form of local government that could give to the country the works it required without the necessity of parliamentary intervention. It will be seen that in- thus withdrawing from Parliament the charge of the construction of local works, we depart from the systems prevalent in the colonies and approach to the Imperial system, under which the principal works of Great Britain have been locally performed. We do, indeed, approach this system, or, rather, we aim at shaping into a system the adopted, rather than legalized, many-sided form of local government which has grown up at Home during a long period, and under circumstances entailing much discontent. That discontent is referable to the feeling that too much work is thrown on local governments and too little revenue given to them, and that the management is not thoroughly representative. In assuming the charge of the Police and the Gaols, and in giving to local governing bodies a distinct contribution from the Consolidated Revenue, we think we avoid the first two of those causes of discontent, Avhilst our system will be thoroughly representative in its nature. In determining the pecuniary resources of these local institutions, we must insist upon a rigid system of colonial finance which may be understood by all. This is what wo aspire to. We hope honorable members will agree to place the Consolidated P^evenue on a footing the permanence of which will not so much depend upon agreements or promises, as on its thorough adaptability to the requirements it has to meet. We want to draw a clear distinction between ordinary revenue and borrowed money, between ordinary expenditure and expenditure out of loans. We want to see charged on the Consolidated Revenue the expenditure only which it will bear; and we want to see that expenditure so defined, that the country may legitimately hope that increased revenue will be

Counties to be created,

With independent revenues and denued duties.

Consolidated Revenue

To be subject to dellnito charges.

8.-2

14

followed by diminished taxation. To do this, we must know what is to be charged to the Consolidated Revenue, and we must be freed from the temptation to add to the expenditure because of increased revenue. If we make up our minds how the various services of the country are to be carried out, appointing to the General Government, the boroughs, the road districts, and the counties their several duties and several revenues, Parliament may leave to the Colonial Government the endeavour, as they have the hope, to secure a reduction of taxation. I would much rather see the objects on which the Consolidated Revenue is to be expended narrowed, and the direct taxation, about which so much is said, levied by the local governing bodies, than unnecessarily, as I think, to force such taxation on the whole colony. We desire to avoid the imposition of a Property-tax and Income-tax. We know there are those who think such taxation would be popular, and who are anxious to see it because it would touch absentees. We are of opinion that, if necessary, the country could bear an income-tax and a property-tax, but that they would be serious evils, and ought, if possible, to be avoided. They would be very unpopular, because very inconvenient; and they would be calculated to reduce the value of property of all kinds by more than their actual burden. They would not affect absentees in the manner or to the extent popularly supposed. Absentees who merely leave the colony for a while, after labouring within it for many years, might well be excused from special taxation. They often do the colony much good; they show by example and enforce by precept the success to which colonists may attain; and they frequently observe new industries or modes of conducting established industries, and apply their observations to enterprises in the colony. Permanent absentees are to be affected mostly by taxation on mortgages; but by the terms of their mortgage deeds they generally protect themselves, so that the taxation, if imposed, would not fall on them, but on those to whom they have lent their money. Simple in theory as the taxation of absentees appears, it must not be forgotten that an income and property-tax would much tend to discourage the future introduction of foreign capital: and I express the opinion that New Zealand has not outlived the need of outside means being introduced for application to private enterprises. If in the opinion of the House it is desirable to extend the scope of expenditure out of Consolidated Revenue beyond our proposals, then direct taxation will be necessary; but we hope that there will be evinced a disposition to forego such extension, with the view of placing the Consolidated Revenue on a sound footing, without making New Zealand the first of this group of colonies to levy an Income and Property-tax. We have borrowed very much during the last few years—for reproductive works, it is true: but attention has been directed to the fact, as I have already stated. Let us, if necessary, submit to some sacrifice, and show to those outside the colony, as well as to ourselves, such a clearly-defined, irreproachable plan of revenue and expenditure, as to set at rest all doubts as to the safety of our position. It must be remembered that a fact is not altered by its being stated in different language; and we have not only to deal with an altered classification but a diminished scale of expenditure. Nearly all the provinces were expending in excess of their revenues, and it is idle to suppose we can enable expenditure to be continued on the same scale. We hope for a great reduction in the provincial departmental expenditure; and as for the

)irect taxation to bo ft to Local Bodies.

roperty-tax and ncome-tax undesirable.

f the House declines to mit expenditure out of Consolidated Revenue, irect taxation necessary.

Ast borrowin:

15

8.—2

expenditure on public works which the provinces showed a laudable disposition to indulge in, those works will now fall to local bodies possessing fixed current revenues, and having power to borrow for special works of importance. Assured, then, of the necessity of reducing the demands on the Consolidated Revenue, we cannot recommend the Assembly to insist on the expenditure for Education being entirely borne by that revenue. We propose to charge two-thirds of it to the Land Revenue, leaving the Consolidated Revenue to furnish one-third, besides the cost of the inspection of primary schools throughout the country. The cost of school buildings we propose should in great measure be charged to the reserves; and for that purpose we shall move for a power being given to School Boards to borrow on the security of the reserves: I speak of the reserves for primary education. The balance of revenue from reserves, after meeting loan charges, we are willing should be devoted to lessening the contribution from the Land Revenue; so that, in fact, the reserves will pass in aid of that revenue, and not in aid of the Consolidated Revenue, which will continue to pay its third and the cost of inspection. After a time, however, we consider that the counties should contribute something to education, by keeping the school buildings in repair and providing additional buildings. In order that this expenditure should not constitute a burden at the outset, we have inserted a clause in the Counties Bill, postponing its operation for four years, and then only authorizing it to the extent required by the Assembly. These reserves, and the management of the schools, we desire should continue in charge of Local Boards and Committees; and we shall introduce a Bill to provide for such local management in the provincial districts which will be left without local management after abolition takes place. We do not desire to see special taxation for educational purposes, and will propose its abolishment wherever it exists. We think, however, the children educated at the schools should pay a modest fee; and it is part of our plan that whilst the revenue from the reserves shall pass in reduction of the contribution from Land Revenue, the fees shall pass in reduction of the contribution from the Consolidated Revenue. We do not propose to reduce the subsidies from Consolidated Revenue to the road districts and boroughs. The subsidies payable by the legislation of last year to Road Boards and Counties, from Consolidated Revenue and Land Revenue, amounting to £2 to £1, we intend to equally divide between the road districts and. counties. The license fees collected within their limits we propose to give to the counties. The license fees, and £1 to £1 to boroughs from Consolidated Revenue, we are still willing to give, only we think some duties should be entailed on boroughs in return. It seems to us they, as well as counties, should contribute to the support of charitable institutions, and we propose to make this a condition of the grant. We shall submit a provision by which outside districts using these charities may be called on to assist them. We shall not require boroughs or counties to retain the management of these institutions in their own hands; on the contrary, we would much rather see it in the hands of committees, private charity being invited in aid. Whilst they are in Government hands, private charity is discouraged. The Corporations and County Councils, by making grants to these institutions proportionate to the amounts privately contributed, would encourage private assistance and save a great deal of money. We shall be willing that the Consolidated Revenue shall in like

Mode of charging cost of education.

Special taxation for education to be abolishedbut fees to be charged.

Subsidies to Road Districts and Counties.

Other local revenues.

Charitable Institutions.

8.—2

16

manner contribute ss. for every £1 raised by private subscriptions. The Government of the colony will thus be spared work it is not desirable they should perform, and the Consolidated Revenue will be relieved of supporting these institutions beyond the rateable contribution I have mentioned, and the expense of inspecting them so as to see that they are properly managed. In the term " Charitable Institutions," I do not include Lunatic Asylums; the charge for these we place upon the Consolidated Revenue. We propose to assume the charge of and responsibilities for the railways. There are unanswerable reasons, to which I have already referred, for this step. The only question is, On what terms should it be taken ? Our proposal is that, in consideration of the colony accepting the liability for constructed and authorized railways, and for those yet required to complete the trunk lines, as also the liability for the cost, past and future, of immigration, a certain contribution from the Land Revenue should be made. "We do not see how otherwise it can be done, without recourse to large direct taxation; nor do we see how there can be two opinions as to the fairness of the proposal, considering how the railways and immigration have raised the value of the waste lands of the Crown, and made them more saleable. The Land Revenue of each Province should from the first have been made to bear the entire interest on railways in course of construction within the Province. My colleague showed last year that it was a mistake to suppose we had paid that interest out of borrowed money ; that notwithstanding a limited power to do so had been taken, it had not been exercised to an amount that more than covered the special revenue contribution devoted to public works in the shape of the one-half of the Stamp Duties. In theory, paying interest out of capital whilst works are in course of construction, and considering such interest part of the cost, is sound, and for private enterprises may be reasonable enough. But, in practice, the public instinct rebels against such a course when pursued by a Government; and I was very glad, the year before last, to be able to state to the Committee that the proposal of the Government was to take the whole responsibility of interest on the cost of works, finished or unfinished, upon the revenue, and not to use the power we possessed to partly charge it to loans. But whilst the colony was thus careful to refrain from charging on loans an expenditure open, as I have said, rather to an instinctive than to a theoretical objection, it did not, as it might well have done, relax its previous intention not to make th& provinces feel the burden of the uncompleted works. It adhered to the principle, as between itself and the provinces, of capitalizing interest on cost during construction, and relieving them of all charge until the railways—constructed, equipped, and opened for traffic—were handed over to them, or worked on their account. This really amounted to the colony, from Consolidated Revenue, lending to the provinces money on permanent loan. I have more than once said we had to submit to expenditure to induce the provinces to rest contented with our performing work so signally useful to them as the railways, Avith which we have literally gifted them; for up to their completion they not only incurred no charge, but largely enhanced their revenues by sales of land induced by the prospect of railway communication. Ido not hesitate to say that, in letting the Consolidated Revenue bear the cost of the interest on these works whilst in course of construction, we submitted to expenditure which should have been charged on the Land Revenue of the provinces respectively interested.

Lunatic Asylumß.

The colony to become liable for the cost of railways.

How the charge is to be met.

Payment of interest out of loans,

Has been limited to amount of Stamp Duties paid to Public Works Account.

Arrangement as between Colony and Provinces.

17

8.—2

This plan cannot be continued. If we are to place the Consolidated Revenue on a satisfactory footing, we must remember that we cannot spare part of it to relieve the Land Eevenue from contributing to the cost of interest whilst the works that benefit that revenue are being constructed. On the ground of saving the Consolidated Revenue from the burden of interest on incomplete works, a contribution from the Land. Revenue is justified, and is strictly in accordance with the conditions under which the Public Works policy was instituted. Indeed, the original intention was to look to large assistance from the waste lands. I have referred as yet only to the burden of interest on works uncompleted; but we must also bear in mind that it is not to be expected that the railways when completed will at once yield in excess of working expenses sufficient to meet interest on the cost of their construction. Such a result would be scarcely desirable; for it would necessitate the adoption of very high rates, and the utter ignoring of all questions of convenience and promotion of settlement, in favour of an inexorable rule of working the railways only to make them yield as much profit as possible. There is no reason why the Land Revenue should not, but every reason why it should, bear a portion, if not the whole of the cost of the difference between the interest paid and that recovered in the shape of profits in excess of working expenses. But then we are met by the condition that it is inexpedient to work each line separately, and therefore that the contribution must be made an arbitrary one. We might have proposed a contribution from the Land Fund, in the shape of a uniform percentage upon the gross revenue, and have enabled the fund to meet it without loss to the provincial districts, by raising the price of land; but although there would be no actual loss to the provincial districts, such a plan would war with the sentiment which has made the compact of 1856 to be looked upon as something more than an economical arrangement. We are led to believe that, whilst the people within any provincial district would object to the proceeds of the land travelling beyond the boundaries of the district, they will willingly recognize the fairness of contributing from the Land Fund a stated interest on the cost of the railways within their own boundaries. Taking into consideration the element of the interest on the uncompleted railways making the present expenditure more unproductive, it seems to us the contribution should be a gradually diminishing one. The contribution we propose from the Land Fund of each provincial district is—For three years two per cent., for the next three years one and three-quarters per cent., and for the next three years one and a half per cent., on the total expenditure on railways within such district, after which time we think they should be sufficiently productive for the Consolidated Revenue to bear the whole responsibility. The land compact of 1856 cannot be left without further remark. Whilst, as I .have said, we are willing to respect it in spirit and letter, we are not willing to condemn a large portion of the colony to an outcast existence. There are parts of the colony which at present do not enjoy a considerable Land Revenue. I advisedly say "at present;" for there are many who think that in course of time the districts which now yield little Land Revenue will yield more than those which at present are more fortunate. But an old adage says, that whilst Nature slowly allows the herbage to grow, a very useful animal may starve; and it is not enough to point to eventualities to satisfy the pressing wants of considerable portions of 3—B. 2.

The Land Revenue mutt contribute.

Mode of contributing,

Compact of 1856,

8.—2

18

the colony. Their case, we are of opinion, must be met; and we propose to meet it by making the Consolidated Revenue guarantee to them a sufficient revenue from the land to meet the prescribed payments the land is to bear. Thus, whatever we charge specifically on the land, such as cost of surveys, interest on provincial liabilities, including the interest on railways, and the £1 to £1 subsidy to road districts, we propose shall be guaranteed year by year from the Consolidated Revenue, to be recovered, without interest, from any surplus Land Revenue in the future. The whole country will thus enjoy certain advantages, whether or not the Land Revenue in any particular province is equal to the demand for a particular year: the interest on provincial loans will be assured, and so also will be the cost of education, and the subsidies to counties, road districts, and boroughs. Some of the counties will be more fortunate than others, on account of the surplus Land Revenue they will receive; but they will all have the one-half of the £2 to £1 subsidies —the other half going to the Road Boards —the license fees, tolls, and a power of adding to their own revenue. Honorable members will have understood from what I have said, that the Government consider the time has come when the upset value of land should be increased. Admitting that, as was to be expected, the most accessible lands have first been selected, it is to be remembered that the value of all land has been enlarged by the settlement and public works which have been progressing for many years, and that some of the very best land is only now becoming available by reason of the communication which is being opened up to it. Interest on money is less than it was in the early days of the colony. Every reason, in short, points to the expediency of raising the price of land. What we intend is, to ask the Assembly to concur in raising the upset price, wherever it is less than £2 an acre, by about 25 per cent., without, however, interfering with the different land systems in force throughout the country, with two exceptions : one, that we propose to repeal all power to make free grants of land, including those under the Immigrants' Land Act; the other, that we shall ask the Assembly to agree to a much enlarged system of deferred payments. We are convinced that no artificial system of special settlements will compare with a general provision, open alike to new comers and old settlers, to poor and rich, to acquire on easy terms of settlement a homestead of 200 acres. To the young men growing up in the colony this will be a priceless boon. We had considerable hesitation in deciding whether it was expedient to recommend that the upset price of land in Canterbury should be increased. We thought that the price should be higher than it has been during past years, but we could not come to the conclusion to raise it anywhere this year over £2 an acre. All these matters I can only touch upon now; but it is evident that the Government having intimated the intention of asking Parliament to raise the price of land, it is not desirable to allow speculative purchases at existing prices in the interval. If no action is taken, the Land Offices, where land is open for selection, will be crowded to-morrow. I shall, therefore, ask the Committee to agree to a resolution, to the effect that upon purchases of land made after this date, any addition that by law this Session may become payable on similar land shall, as a condition of the issue of the Crown grant, be payable on land taken up between the present date and that of the coming into force of the general Act increasing the price.

Compact oi 1856.

Price of land to bo increased.

Free Grants of land to cease: but deferred-pay, ment system to be greatly extended.

Declaratory resolution accessary.

19

8.—2

This resolution, I wish it to he distinctly understood, will in no wayhind the House to agree to the additional price, nor will it involve any extra payment in anticipation of the law. But it will prevent speculation on the issues of the deliberation of the Assembly, whilst it will leave the Assembly time for fairly considering the question. I appeal to the Committee to accept the resolution in this spirit, and not to discuss the question of the increase before there has been time to take the whole Financial Statement into consideration. With the suggested changes from, the Abolition proposals of last year, we believe we may dispense with direct taxation for colonial purposes; and those changes are —Education to be partly charged on the Land Revenue, and the bulk of the cost of Charitable Institutions, exclusive of Lunatic Asylums, to be devolved on the boroughs and counties. There is, besides, the change involved in taking over the railways; and with that is involved the condition of a stated contribution from the Land Eund of each province to the railways within its "boundaries. One other point I should mention is, that we think if a limit be not set to the term of subsidies to counties, road districts, and boroughs, then, as was the case with the provinces, when the Assembly comes to vary their revenues, the demand will arise to accept the liability for their loans. It is too much to suppose, as these institutions progress, that the Consolidated Revenue or Land Revenue can give equally progressive aid. The increase year by year will be'very large; and with the probability of such large increases, I hope it will be considered that Parliament should not be bound beyond the following terms —viz., that the Consolidated Revenue shall pay to the boroughs, road districts, or counties, £1 for £1 for five years, and thereafter the question of its contimiance be open to the consideration of Parliament; and that on like conditions, and for a like period, it shall guarantee the payment of £1 to £1 out of Land Fund. I venture to think these plans meet fairly the many admitted difficulties. They still leave the provinces to enjoy their Land Revenue. In no part of the country can such distress and destitution, in respect to public institutions, exist as has before existed. The Consolidated Revenue will have only a certain loading. If necessary, the revenue must be added to by taxation; but there seems to be more probability, as the railways are completed, and the heavy liability which their incomplete and therefore unremunerative condition occasions is lessened, that taxation may be diminished instead of increased. It is to be hoped the system of giving away land will not be continued. We indeed start with a reduction of taxation in one direction; for we propose, as I have already stated, to abolish all education rates. In dealing with future financial arrangements, I cannot forbear a reference to the very important effects which we anticipate will follow the change which we will submit in the present system of purchasing Native lands. If our proposals have effect given to them, the most fertile cause of Native expenditure will be removed; the value of property in this island will be largely increased, and therefore its capacity to contribute to local works ; the condition of the Natives will be vastly improved, and the Land Revenue of the North Island much augmented, without the necessity of further loans and constant interest-bearing expenditure. No longer will the Natives be galled by the reflection that, instead of aiding them, and receiving a legitimate consideration in retxu*n, we are always trying to get the

Effects of modifying Abolition proposals of last year.

Subsidies to bo limited,

Satire Land Purchase system to be altered.

8.—2

20

better of them in the bargains into which they and we enter; no longer will the Land Revenue of the North Island be a questionable equivalent for the expenditure incurred; and no longer will the Government of the colony be forced into competition with private individuals. The revolution in the system of Native-land purchasing is a worthy crown to the other great changes which, we believe, will relieve New Zealand of the principal difficulties under which she now labours, and qualify her for the pre-eminent position amongst these colonies to which her capabilities entitle her. THE RAILWAYS. We propose to arrange for acquiring such of the railways as are provincial property, by deducting from the indebtedness of the province parting with a railway an amount equivalent to its value. This would lessen the charge on the Land Fund for loans of that province, and therefore leave more of that fund to be divided amongst the counties. As we are taking over the railways, it is right to remember the position of the Middle Island Railway Fund. That fund was created as a charge on the colony, to correspond with the charge on the colony for roads in the North Island. As the railways are now everywhere to be charged on the colony, it is fair to allow to the provinces concerned a reduction of their railway debt, to the extent that each has received credit for railways (not roads) out of the Middle Island Railway Fund. FTTTUEE LOANS. The question of further borrowing is one about which the Committee will feel much interest. I have incidentally referred to provincial expenditure; and honorable members will not be surprised to learn that when Abolition takes place, a large amount of liabilities will devolve on the Government. Some of these will be for uncompleted engagements, some for existing liabilities, some for deficiencies such as overdrafts ; while a part will be for ordinary current expenditure which it will be impossible at once to arrest. It must be remembered that after Abolition the present provincial revenue is disposed of. The revenue from licenses, for example, goes to local bodies; the Land Revenue is appropriated to meet certain charges with a fixed destination for the balance: in short, with respect to revenue of all kinds, the new arrangements commence when Abolition takes place. But some of the expenditure it may not be possible immediately to stop, and liabilities must be met. I cannot give you any trustworthy estimate of what the total will be: I shall be glad to find that it is less than half-a-million. What we propose to do is, to ask power to issue Treasury bills or debentures to cover it, as its amount is ascertained; the provincial debt of each province to be augmented by the amount borrowed to discharge the liabilities of such province. Some of the appropriations approved by the Government, on the recommendation of the Provincial Governments, involve expenditure which will extend far beyond the period of Abolition. Especially is this the case with the Provinces of Otago and Canterbury. Ministers did not recommend approval of these authorities without adequate consideration. Although they felt the difficulty of continuing the expenditure after the revenues become the property of local bodies, yet it seemed to them so inexpedient to suddenly arrest the works proceeding—

Native Land Purchase system to be altered.

Railways: Arrangements for taking them over.

Future Loans.

Provincial liabilities to be met.

Current Provincial Appropriations.

21

8.—2.

for the new bodies cannot immediately get to work and complete their arrangements—that they decided to approve the Estimates recommended, and to see them carried out, after Abolition, at the cost of the provinces concerned. The works authorized by these Estimates, not completed when Abolition takes place, will be carried out on behalf of the provinces, and form part of their outstanding liabilities. At an earlier period of my Statement this evening, I explained that a considerable amount appropriated for Public Works for the year just expired had not been expended; and I also stated approximately the Ways and Means for Public Works that were yet available. We propose to continue the progress of the Trunk Railways, and a reasonable expenditure on Immigration. The latter, we think, should be temporarily reduced, because of a somewhat less demand for labour. The construction of the Trunk Railways should be continuous, and as rapid as may from time to time be found convenient. I have already said I should be glad to find that half a million would meet the liabilities of the provinces. There is, indeed, little chance of this. The liability to the Consolidated Revenue and that to the Public Works Account make nearly the sum, without including liabilities to be discharged after Abolition takes place. We propose to ask authority to borrow £750,000 for provincial liabilities, and £1,250,000 for Public Works and Immigration. We do not think it will be necessary to negotiate more than a million this year, unless a favourable opportunity occurs. My colleague the Minister for Public Works will explain as soon as possible the views of the Government as to the expenditure of this money. I may, however, mention, that we propose to devote it to continuing the Main Lines of Railway, and to Immigration. It will also be the duty of my colleague to enter into details concerning the intended expenditure for the year. I desire to say a few words about the general position of New Zealand's credit. There is no use disguising that it has suffered, partly from detraction, which I hold to be altogether unmerited, and partly from the fact of the colony having borrowed very largely. It is impossible to secure for the public debt of a colony like New Zealand an accurate consideration of its true nature. People will not pause to analyze; a public debt means to them a public debt in its ordinary acceptation, and they compare New Zealand's public debt with the national debts of old countries. The comparison is essentially faulty; for the New Zealand debt is mainly composed of moneys expended on objects which have no place in ordinary national debts, but the value of which is fully recognized. If a person wished to show the extremes of good and ill which distinguish a country, he would be apt to point to the small extent of money expended on the usual objects for which national loans are contracted, and to the vast expenditure on the purposes for which, mainly, the debt of New Zealand has been contracted. Do not let us say there is nothing in a name. If a large proportion of our New Zealand debt had the shape of a loan to railway companies, not to the colony, its amount would be accepted as a proof of the colony's progress and judicious promotion of settlement. As it is, we must accept the position; and we must show that we do this, by so improving the condition of the securities already outstanding, as to leave no room for carping complaint, and by contracting our expenditure until the market has time for recovery.

Current Proyineial Appropriations.

Amount to be orrowed, £2,000,000.

The Colony's credit.

New Zealand's debt not to be compared with ordinary national debts.",

8.—2

22

I have already mentioned that the Agents have not sold the last parcel of debentures for the negotiation of which authority has been sent Home, and that they are negotiating for a temporary loan on them. Obviously, it is desirable to add to them at present as little as possible. To improve their position is also very desirable. I commend honorable members' attention to the paper respecting the Inscription of Stock by the Bank of England. The Government are of opinion that, through the arrangement which has been made, the Assembly has it in its power to greatly improve the position of New Zealand securities, without any corresponding sacrifice. The attention of the House will be earnestly asked to this matter. It is one of vast importance to the colony, for it not only involves the improvement of the present credit of the colony, but it includes a great saving of future expenditure in regard to loan charges. In another way, you will be asked to improve the position of New Zealand's credit, by making its finances more simple, and therefore more easily comprehensible. With the system of illdefined partnership and no-partnership which has prevailed, there have been so many intricate details, that people have shrunk from the task of mastering for themselves the real position of the colony, and have consequently been inclined to accept any misrepresentation which might be made. I hope we shall this year define what are and what are not purposes to which the Consolidated and other revenues are to be devoted, so as to leave no doubt what the financial position of the present is, and what the financial arrangements for the future are to be. I have said that the New Zealand loans include amounts for objects which persons outside do not accept as coming within the scope of ordinary national debts. Within limits, I am not sure that we are altogether right and others altogether wrong. It has often been asked here, when money for useful objects was wanted by local bodies, such as Provincial Governments, Harbour Boards, and Borough Councils, Why should not the colony borrow it at as low a rate as it can be obtained ? The answer is partly to be found in the fact that the quotations for our loans are not so high as we should wish. Those who lend money have a great prejudice against vicarious borrowing. The Imperial Government has often said, when urged to borrow for the colonies, and for other than directly national purposes, that if the country committed itself to such loans its credit would not be so good, and it would have to pay more for the money it borrowed. As a matter of fact, the direct loans of the country command a considerably higher rate than those which are equally well secured by an indirect guarantee. It does not follow that the bodies to which Imperial assistance is refused fare badly. There are many public bodies in Great Britain which have borrowed money almost as cheaply as the Imperial Government could have borrowed it for them, and without the risk of generally reducing the value of the Imperial securities. I am convinced that, in New Zealand, we must in future be very chary of giving the guarantee of the colony to local bodies. I think we should continue to add to the ordinarily-recognized purposes of public debts, the cost of railroads and immigration; but that we should avoid making the colony liable for the large number of public works —most useful in their character —of which in future the local bodies are to have charge. In the Bills relating to Boroughs and Counties which we shall bring before you, we make it perfectly clear that the colony is not liable for the debts they may incur. We propose to give them certain powers of ordinary borrowing, proportionate to their rates. When they wish to go beyond this, and

Unguaranteed Debentures.

The Colony's credit can be improved.

Why the Colony cannot borrowfor Counties, &c:

Or, be supposed to be in any way liable for their debts:

8.—2,

23

to borrow for special purposes on special securities, we desire to make it necessary that they should obtain the consent and approbation of the ratepayers, and that with that consent they may go into the market and make their own financial arrangements. lam not thoroughly familiar with the system at Home; but I believe that to some extent it includes Government supervision, with, in some cases, a power of approval or veto. After much consideration, we think this would not be desirable here. Anything of the kind in the colony would be construed into a quasi liability; and the Government would not be strong enough to resist the argument that their approval of a loan committed the colony. At Home, the Government is so powerful, and so accustomed to disregard inferential claims of the kind, that they would treat with indifference any liability not direct and explicit. EXPENDITURE, 1876-77. I place before the Committee a statement of the proposed expenditure for the year ending June 30th, 1877 :— ■ £ s. [d. £ s. d. Civil List ... ... £29,750 0 0 Permanent Charges ... ...£1,081,570 12 2 Less Interest on Provincial Loans for 12 months, and on Railways for 3 months ... ... 22 S, 89S 19 2 852,671 13 0 Class I.—Public Departments... ... 162,308 18 3 „ ll.—Law and Justice ... ... 202,221 6 4 „ lll.—Postal and Telegraphic ... 229,424 0 0 IV.—Customs and Marine ... 79,107 3 6 „ V.—Miscellaneous ... ... 75,721 0 0 H Vl.—Native ... ... ... 35,985 18 4 „ Vll.—Militia, Volunteers, Armed Constabulary, and Defence ... ... 85,552 10 0 „ Vlll.—Public Domains and Buildings ... ... 40,611 4 0 „ IX.—Railways ... ... 322,689 0 0 „ X.—Municipalities, Road Boards, &c. ... ... 112,000 0 0 2,228,042 13 5 Capitation and Special Allowances (three months) ... 75,000 0 0 Moiety of Stamp Duties „ ... 14,375 0 0 Total ... ... £2,317,417 13 5 It will be seen that provision is made to meet the altered circumstances of the Colony which will immediately follow the close of this Session. It would be impossible to exaggerate the difficulties there have been in making up these Estimates; it has been necessary —without the knowledge which the actual control of the departments would have given—to incorporate" the various Provincial Estimates with the general Estimates for the Colony. Honorable members are aware that, some months since—when we saw that the duty of taking over the Provincial Departments necessitated deciding which of them should be absorbed, and which be done away with or be left to local management—we sent three officers of the Civil Service to the several Provinces, for the purpose of obtaining particulars. It was thought by the Government that it would be desirable, if possible, to have some officers who, from

Or, on account of indirect authority.

Estimated Expenditure, 1876-77.

Taking over Provincial Departments:

Visits of Officers to Provinces.

8.—2

24

personal experience, could answer such questions as might from time to time arise on the subject; and it was considered that those officers would themselves be able to incorporate the Provincial with the General Government Estimates. lam not about to say that the result answered all our expectations; and no doubt honorable members will be able, if they so desire, to urge that the plan we adopted did not meet with the success we anticipated. If so, we can only say in reply that we did not adopt the plan without mature consideration; and that, although it has not answered the expectations formed of it, it does not at all follow that the step we took was not a desirable one. "When the three officers prepared their Report, and the Government found that what they handed in was, in effect, a somewhat detailed consolidation of the various Provincial Estimates, without any incorporation of them with the Colonial Estimates, the whole of the members of the Government then in "Wellington devoted several days to the examination of the question —deciding, as they proceeded, which departments should be omitted or handed over to local control and management, which should be incorporated and how, and which should be dealt with by general votes. In coming to a decision upon these points, the Government have no doubt derived much advantage from the Report, and in many cases from personal references to the officers ; and I wish to be distinctly understood not to cast the slightest reproach upon those gentlemen. When the decisions of the Government were arrived at, most onerous duties devolved upon the Treasury. Officers of that Department, working hard during many days, and I may truly say many nights, following the instructions and acting under the directions given by the Government to the Secretary of the Treasury, compiled the Estimates; and after some further consideration by Ministers they are now before the Committee. To say that, with all the care bestowed upon them, they will prove entirely accurate when tested by experience, is more than I am prepared to state. In many cases we were only able to hope to make savings, without seeing our way to embodying them in the Estimates. We have adopted some of the Provincial Estimates—as for example those for Gaols and Police —and I am sanguine that, besides the result shown by the general incorporation, a considerable saving will be effected. To add to the difficulty of preparing the Estimates, we had no fixed date before us as that on which the Abolition of the Provinces is to take effect; and, therefore, we had nothing to determine how much of the necessary expenditure we were entitled to consider as belonging to the old system and how much to the new. The difficulty could only be surmounted by arbitrarily naming a day. "We have supposed that Abolition will take place on the Ist of October; and, therefore, we have estimated for three months of the old system and nine months of the new. "We estimate for the payment of Capitation Allowance to the Provinces for three months, and treat them as liable, during the same period, for interest or> Provincial loans. We also estimate that the Provinces will continue to hold possession and management of the railways for three months, and that for that period the moiety of the Stamp Duties will be payable to the Public Works Account: in short, as I have said, we assume that the new system, with its many ramifications, will commence on the Ist October, and not until that day. Probably we shall propose that this day be absolutely fixed by law as the date of Abolition.

Visits of Officers'to Pro vinces.

Incorporation of Provincial with Colonial Estimates,

[as involved very great iboor.

Co date for Abolition laving been fixed last ession,

le has been assumed.

apitation Allowance,

25

8.—2

I have kept in the Estimates a statement of all the appropriations last year. I will forbear, on the present occasion, from entering into an analysis of the differences that taking over the provinces will involve. Honorable gentlemen will be able to form their own conclusions upon that point. They will probably consider that, by taking over the provinces, we are incurring a larger expenditure than we met by the payment of Capitation Allowances. Indeed, that this is so may be readily conceived when we remember that the amount of revenue we take over with the provinces is a mere bagatelle; whilst we are undertaking to satisfy substantial items of expenditure. The two systems are, indeed, so entirely different, that every person who chooses to enter upon a comparison of them may do so from a different point of view, and therefore come to a different conclusion. This is not a time for me to justify or defend the Abolition policy. I strongly hope that one of its results will be that, on the whole, throughout the Colony, there will be a less amount of expenditure; and I look upon it as a great advantage that a very large proportion of the expenditure that has been conducted by the Provincial Governments will be conducted by a number of truly Local Bodies.

Results of taking over Provincial Department

WATS AND MEANS. I lay before the Committee a statement of the estimated revenue for the year:—

Ways and Means, 1878-77.

Land ReTenne and €W Fields Revenue

I have mentioned the estimated Land and Gold Fields Kevenues in order that, for statistical purposes, they may be looked upon as part of the total revenue of the colony. Ido not add them to the ordinary revenue, but keep each distinct for its specific purposes. We have been placed at very considerable disadvantage, 4—B. 2.

Heads or Receipt. 1875-76. Revenue as Estimated. 1875-76. Probable Revenue. 1876-77. Estimated Revenue. Consolidated Revenue. Customs—Duties, Rents, Seizures, &c. Bonded Stores ... Fees, Marine Act, including Light Dues „ Arms Act „ Sundry Acts ... ... J Pilotage Rates, Harbour Dues, &c. (9 months) Stamp Duties Education —Fees and Rates (9 months) Postal ... Telegraphic Judicial Fees and Fines Fees —Registration of Land „ Deeds „ Births, Deaths, and Marriages ... On Issue of Crown Grants ... Fees —Fines—Sheep Inspection (9 months) "... Fees—Miscellaneous Railways Incidental Receipts Miscellaneous Revenue —Provincial (9 months) £ *• d1,325,000 ° ° 5,000 o o £ s. d. 1.225.747 O ° 5,250 o o £ '■ d. 1,260,000 o o 5,500 o o 16,750 o o 16,417 o o 17.350 ° o 125,000 o o 91,000 o o 62,000 o o 32,000 o o 13,5°° o ° 16,750 o o 5, 000 o o 6,000 o o 112,389 o o 93,163 o o 63,038 o o 37'993 o ° 12,184 o o 15.453 o o 5,232 o o 4,410 o o 10,000 o o 115,000 o o 30,000 o o 96,000 o o 67,000 o o 38,000 o o 12,5OO O O 15,500 o o 5,500 o o 6,000 o o 2, 70O O O 120,000 o o 65,000 o o 2,397 ° o 57,460 o o 52,056 o o 7,500 o o 2,500 o o 445,000 o o 46,000 o o 20,000 o o 1,885,700 o o 1,703,189 o o 2,199.35° ° ° Land Revenue. Land Sales Licenses, Rents &c. 647,005 o o 122,995 ° ° 770,000 o o Gold Revenue. Gold Fields Revenue Gold Duty 52,000 o o 33,000 o o 85,000 o o Total Revenue of the Colony (exclusive < and Boroughs) if License Fees, &c, p; lid direct to Counties 3>°S4>35° o o

8.—2

26

when returns of the comparative revenues of the Australasian Colonies have been prepared, or when questions based upon such returns have been under discussion, on account of Land Revenue appearing in the returns of all the other colonies except New Zealand. I speak from knowledge, when I say that considerable damage was done to this colony by statistics sent Home by the Governor of one of the Australian Colonies, in which our revenues appeared comparatively much smaller than they were in fact, because the Land Eevenue, through its going to the provinces, was not included. But whilst, for the purposes of this Statement, I include the Land and Gold Fields Revenue in our total income, those items are kept distinct: they do not pass to the Consolidated Revenue, and their expenditure will depend upon the permanent laws relating to them. Honorable members will observe that I estimate only a very moderate increase, in any item, over the revenue of 1875-76. Taking into consideration the falling price of wool, and the large reduction in immigration, I have thought it better not to estimate too sanguinely. Nor do I expect that the revenue will, as a whole, yield more than I have set down. I now proceed to consider the Ways and Means available to meet the expenditure of the Colonial Government. There is first the balance of £72,355 3s. lid. already explained, which will be available for this year after meeting all the liabilities of last year. Then there is the Consolidated Revenue, the details of which I have stated, amounting to £2,199,350. I have besides to estimate the amount of the 2 per cent, contribution for nine months on the cost of railways within each province. I take a moderate view of this item, as possibly it may not be fully recovered within the year, and I set it down as a receipt of £75,000. The amounts stand thus :—■ £ s. d. Balance from the year 1875-76 ... ... ... 72,355 3 11 Consolidated Eevenue ... ... ... ... 2,199,350 0 0 Recovery for Interest on Eailways (nine months) ... ... 75,000 0 0 £2,346,705 3 11 I will now explain why I do not include Gold Fields Revenue in my estimate of the means available. Last Session, the Gold Fields Members persuaded the House to accept a clause by which, after defraying all the expenses of the Gold Fields, the balance of revenue from them was to be handed over to the Local Government Bodies, to be subject to the payment of a subsidy of £2 to £1. The Government explained at the time that such a clause would mean nothing—that they could not hold out any hope of such a subsidy being more than nominal. A moment's consideration will show honorable members that the idea involved in the clause is absurd. It is, that the Government shall pay a subsidy of £2 to £1 upon the amount of revenue collected. Such a plan would be rolling a stone up a hill, with a vengeance. If the Government had to pay £2 to £1 upon the balance arrived at in the way stated, then the Government would not improbably think they were doing right in making that balance as small as possible. The plan would work out in this way: —Occasionally, heavy " finds " would be made within some gold fields, and the Treasury would have to deplore such results, as making unexpected calls upon the revenue of the Colony.

Included (for statistical purposes only) with Con« solidated Itcvenue.

How Ways and Means made up.

Why Gold Fields KeTenae not included. Proposal made last Session should be abandoned.

27

8.—2

Instead of the Treasurer being allowed to rejoice, as he would naturally desire to do, in the progress of the Gold Eields, he would have to dread the occurrence of discoveries which would otherwise cause general satisfaction. But whatever the Treasurer might feel, it is clear that the clause agreed to last Session is incomplete, and must be inoperative. It provided that the surplus of Gold Export Duty, as well as of Gold Eields Ordinary Revenue, should pass to the Local Governing Body of the district within which it arose; but it did not provide or suggest how the amount arising within each district should be ascertained. When the Treasury came to look into the question, it was found, therefore, that the clause could not be carried into effect. It would be impossible to connect the payments made into the Custom House on account of export duty with the quantities of gold brought down from the several fields, even if all gold was conveyed by escort. This difficulty can easily be remedied by legislation; but the rest of the subject demands larger attention. The Government desire to make a proposal which they hope the Gold Eields members will recognize as more beneficial to the districts than that of last Session : namely, that, instead of charging against the revenue from the gold fields all the expenditure upon them, including that for gaols and police, and handing over the balance subject to the provision proposed last Session, all the ordinary revenue from each field, including the export duty, shall be handed to the Local Governing Bodies of the districts within which the fields are situated, for expenditure on local works. If the honorable members representing Gold Eields still require that we shall adhere to the plan of last Session, then we shall have to charge against the revenue every item of expenditure, and, except in the case of lucky " finds," little money will revert to the Local Bodies. Deducting from the £2,346,705 3s. lid. of Ways and Means, the amount of the expenditure, £2,317,417 13s. 5d., we have left £29,287 10s. 6d., which will probably be considered a small balance, especially as we are sure to have some Supplementary Estimates. If we do not make these excessive, we shall find the Ways and Means provided will be sufficient. lam sanguine of a reduction in the estimated expenditure being effected, when we have the Provincial departments in our own hands. It will be satisfactory to the country, and to honorable members, to find that it has not been deemed necessary to propose any increase of taxation. Indeed, we propose to some extent to reduce taxation: since we ask Parliament to do away with the education rates that have been levied in some parts of the Colony. The year we are now commencing is, in my opinion, the most onerous and difficult we have had to do with for some time past, and for which we shall have to provide for a long period to come. Besides that it is the year in which we have to assume all the immense responsibilities which we shall have to meet when Abolition takes place, it is the year in which we shall be made particularly to feel the effects upon the revenue of having to provide the interest on the cost of Railways in course of construction, and which are not yet reproductive. As the Railways are completed and come into use, they will, year after year, give us greater relief financially; and I see no reason to suppose that after the present year we shall not be at liberty to resume Immigration upon a considerable scale. lam confident that if the provisions we propose for giving land upon deferred payments are made, they

That proposal not practicable.

Mew proposal.

Estimated surplus, at end of 1878-77.

Taxation, instead of being increased, to be reduced*

This year peculiarly onerous and difficult.

8.—2

28

will induce a great amount of settlement—thus to some extent relieving the labour market and creating a demand for further labour. I am sure I need scarcely say that it has not been, and will not be, our desire to cause a glut of the labour market. Statements that the Government have such a desire have been made; but they are not true. No doubt, in parts of the country, there are some unemployed persons; but in no circumstances, and under no conditions, would it be possible—whether the scale of immigration be large or small — to find a country in which there are not some people who are not able, at times, to find work, or upon whom others would not look as undesirable employes. I am sure the number of such persons in this Colony at present is not large : in that statement I believe I shall be supported by honorable members from the various districts. Still, in view of the fact that some of the authorized railways are being completed, and from other circumstances, we have thought it better, for the next few months, to reduce the number of assisted immigrants. I will briefly recapitulate the principal points of the Statement I have had the honor to submit to the Committee. We wish to have it understood that we do not consider the question of Abolition an open one. "We look upon it as already decided; and we are of opinion that there is no chance whatever of the decision being reversed. We wish honorable members and the country to recognize that Abolition does not end with the mere coming into force of the Abolition Act, but that the operation of that Act will cast upon the Government a large number of gravely onerous duties. I have desired to make it clear to honorable members, that a leading feature of the present Budget is the putting upon a simple footing the finance of the colony —relieving the Consolidated Revenue of various contingent charges—giving to the colony its finance, and to the different local bodies theirs—preventing in the future the clashing of claims, if not of interests, which has caused so much mischief in the past. It has been my duty to point out that certain changes in the Abolition proposals agreed to last Session have been rendered necessary by the larger knowledge and experience which the past year has supplied. Those changes are represented principally by the cost of Education being now proposed to be partly borne on the Land Fund, and by the cost of Charitable Institutions being mainly devolved upon the people of the colony themselves, and on the districts in which the institutions are respectively situated or the residents within which they serve. I have had to explain to the Committee that, in the opinion of the Government, it is necessary the Colony should take charge of the railways of the country; and that, in order to do so, and to meet the pressure of the interest on the cost of works in course of construction, as well as the deficiency to cover interest which the receipts in excess of expenditure may for some time show, there should be made from the Land Revenue of each provincial district, during the next nine years, a contribution beginning at 2 per cent., and falling gradually to 1^ per cent., upon the cost of the railways within its own boundaries. I have further had to explain that the Government believe the time has now come when a material increase in the price of the Waste Lands of the Crown should be made —not with the view of benefiting the Colonial Government, but to enlarge the surplus at the disposal of the Local Bodies, and for the purpose of doing justice to those who long years since purchased land at its present prices, and who have a right to consider that their labours, in making

Immigration and the Labor Market. }XH.i2

Summary of proposals,

29

8.—2

the Colony what it is, render it but fair that those who now come in should pay a higher rate for land than was paid by the pioneers of settlement. These are the main points of the Budget; and I commend it, as a whole, to the earnest and favourable consideration of honorable members. This is no time for party or personal animosities. I feel that I am in the midst of three generations of public men. I see around me those who had grown grey in veteran service to the colony, when little more than its name was known to me. I see those who, contemporaneously with me, have given their best services to the country during the last decade; and I see and welcome with great pleasure a number of members who, though only this Session entering public life, have already given evidence of vigorous thought, and fluent and eloquent speech. We meet on no common occasion. We shall this session make an imprint on the history of the colony that cannot be effaced in all the years to come. As far as the internal affairs of New Zealand are concerned, it has fallen to us, the old, the middle-aged, and the young in public life, to give to the country a new Constitution, which those who live now and those who come after us will have to work out. In the presence of such a duty the strife and prejudice of the hour should be hushed. Free from every disturbing influence we can disperse, let us devote ourselves to the endeavour to frame a Constitution which will give to a law-abiding, liberty-loving, and noble people, powers of self-government, unfettered by any control save that which one Parliament in the country deems it necessary to give to one Government.

Summary of pro]

Conclusion,

By Authority: G-eoege Didsbuey, Government Printer, Wellington. —1876. Price, Is. 3d.]

8.—2

STATEMENTS AND RETURNS 1H CONNECTION WITH THE FINANCIAL STATEMENT, DELIVERED BY THE COLONIAL TREASURER, THE HON. SIR JULIUS VOGEL, IN COMMITTEE OF WAYS AND MEANS, 4th JULY, 1876.

CONTENTS: Page A.—Debentures and Treasury Bills in circulation, showing Sinking Fund accrued. Balance of Indebtedness, and Annual Charge of General and Provincial Governments ... 1 Public Debt of Colonial and Provincial Governments, and Annual Charge for Interest and Sinking Fund ... ... ... ... ... ... ... 1-2 B. —Sums appropriated out of Consolidated Fund for Tear 1875-76 ; Recoveries to Credit; Expenditure actually made during Tear; Amounts Unexpended or Expended in Excess ... ... ... ... ... ... - ... ... 3-7 (1.) Eeceipts and Disbursements of Public Account for 1875-76 ... ... ... 8-17 " C—Receipts and Expenditure of Land Fund for 1875-76 ... ... ... ... 18 ' (1.) Eeceipts and Expenditure of Public Trust Fund for 1875-76 ... ... ... 19 D. —Unauthorized Expenditure of Consolidated Fund during 1875-76 ... ... ... 20 E. —Sums appropriated out of Special Funds for Tear 1875-76 ; Recoveries to Credit; Actual Expenditure during Tear ; Amounts Unexpended or Expended in Excess ... 21-22 F. —Statement of Accounts with Provinces under " The Payments to Provinces Act, 1872," for 1875-76 ... ... ... ... ... ... ... ... 23 G. —General Balance Sheet and Summary of Transactions of the Public Account for 1875-76 24 H.—Statement of Receipts of Consolidated Fund for 1875-76 ... ... ... ... 25 (1.) Comparison between Estimated and Actual Revenue, for 1875-76 ... ... 26 (2.) Statement of Revenue from Stamp Duties for 1875-76 ... ... ... 27 (3.) Comparative Return of the Duties of Customs collected at the several Ports for 1874-75 and 1875-76 ... ... ... ... ... ... ... 28 (4.) Return of Gross Duties of Customs for each Quarter from September Quarter, 1864, to June, 1876, inclusive... ... ... ... ... ... ... 28 (5.) Return of Value of Imports and Exports at each Port for 1875-76 ... ... 29 (6.) Return of Value of Imports and Exports for each Province for 1875—76 ... ... 30 (7.) Return of Quantity of Flour and Grain Imported and Exported for Tear ended 31st December, 1875 ... ... ... ... ... ... ... 30 (8.) Return of Quantity and Value of Gold Exported for Tear 1875-76 ... ... 31 (9.) Return showing Amount and Value of Gold Exported for Tear 1875-76 ... ... 32 (10.) Return showing Quantity and Value of Wool Exported for Tear 1875 ... ... 32 (11.) Return showing Value of New Zealand Phormium Exported for Tear 1875 ... 33 I. —Statement of Capitation and Special Allowances to the several Provinces for Three Months 33 X. —Return of Value of Imports and Exports of Victoria, New South Wales, and New Zealand, for Nine Tears ended 31st December, 1874 ... ... ... ... ... 34 L. —Return showing Value of Gold, Wool, Grain, &c, Exported from Victoria, New South AVales, and New Zealand, for Eight Tears ended 31st December, 1874 ... ... 35-36

*I—B. 2.

33

8.—2

STATEMENTS AND RETURNS IN CONNECTION WITH THE FINANCIAL STATEMENT.

Table A. STATEMENT showing the DEBENTURES and TREASURY BILLS in CIRCULATION under the several Loans of the Colonial and Provincial Governments of New Zealand, the Amount of Sinking Fund Accrued, the Balance of Indebtedness, and the Amount of the Annual Charge for Interest and Sinking Fund.

Act authorizing the Loan. Amount of Debentures in Circulation on June 30, 1876. Sinking Fund accrued to Juno 30, 1676. Total Debt after deducting Sinking Fund. Annual Charge. Interest. Sinking Fund. Total. Ordinance of Legislative Council " New Zealand Loan Act, 1856"... " New Zealand Loan Act, I860"... " New Zealand Loan Act, 1863"... " New Zealand Debentures Act, 1864," and Amendment Act, 1865" ... " Consolidated Loan Act, 1867"... " Immigration and Public Works Loan Act, 1870 " " Defence and Other Purposes Loan Act, 1870" " Immigration and Public Works Loan Act, 1873" ... "Immigration and Public Worts Loan Act, 1874" ... " General Purposes Loan Act, 1873" ... Treasury Bills " Auckland Loan Act, 1863 " ... " Wellington Loan Act, 18G2 "... "Wellington Loan Act, 1866 " ... "Wellington Debts Act, 1871" ... " Nelson Waterworks Loan Act, 1864" ... " Lyttelton and Christchurch Kailway Loan Act, 1860" " Canterbury Loan Ordinance, 1862" ... " Westland Loan Act, 1873 " ... "Otago Loan Ordinance, 1862"... "North Otago District Public Worka Loan Act, 1872" ... £ s. d. 311 0 0 500,000 0 0 93,100 0 0 1,519,400 0 0 £ e. d. 270,522 6 3 42,552 11 5 269,531 4 6 £ s. d. 311 0 0 229,477 13 9 50,547 8 7 1,249,868 15 6 £ s. d. 20,000 0 0 5,586 0 0 76,284 0 0 £ s. d. 10,000 0 0 1,862 0 0 20,508 0 0 £ s. d. I 30,000 0 0 i 7,448 0 0 • 96,792 0 0 50 0 0! 4,660,100 0 0 I 50 0 0 ('232,875 0 0 •I 151,432 10 0 L 36,875 0 0 45,831 0 0 i 278,706 0 0 3,195,400 0 0 J-545,100 0 0 8,060,400 0 0 21,000 0 0 • 172,432 10 0 750,000 0 0 1,500,000 0 0 6,000 0 0 > 42,875 0 0 1,500,000 0 0 67,500 0 0 67,500 0 0 4,000,000 0 0 I 4,000,000 0 0 180,000 0 0 180,000 0 0 I 250,000 0 0 572,000 0 0 31,600 0 0 2,000 0 Oj 13,500 0 01 75,000 0 0' I 5,341 18 3 2,000 0 0 4,160 16 10 250,000 o 0 572,000 0 0 26,258 1 9 11,952 0 0 29,359 13 9 1,896 0 0 160 0 0 1,080 0 0 3,750 0 0 632 0 0; 80 0 0' 270 0 0 11,952 0 0 29,359 13 9 i 1 2,528 0 0 ij 240 0 0 i 1,350 0 0 3,750 0 0 9,339 3 2 75,000 0 0 6,200 0 Oj 4,354 8 3 1,845 11 9 496 0 0 124 0 0 l 620 0 77,700 0 01 28,324 9 6 49,375 10 6 4,662 0 0 1,554 0 0 i 6,21S 22,800 0 0| 50,000 0 0' 116,700 0 0| 14,453 7 0 19,990 12 2 8,346 13 0 50,000 0 0 96,709 7 10 1,368 0 0 2,500 0 0 7,002 0 0 228 0 0 1,167 0 0 i 1,596 0 0 2,500 0 0 i 8,169 0 0 48,900 0 0 ... 48,900 0 0 2,445 0 0 6,800 0 0 i 9,245 0 0 Total ... 17,484,761 0 1,206,331 14 2 16,278,429 5 10 837,223 3 9 116,056 0 0 953.279 3 9 STATEMENT showin Zealand several ig the Public Deb? lly, and the Annual of the Colonii Charge thereon ,1 and for I: Provincial G iterest and S: Governments inking Fund. if New Amount of Debentures in Circulation on June 30,1876. Annual Charge. Interest. Sinking Fund. Total. Colonial Government:— Ordinance of Legislative Council " New Zealand Loan Act, 1856 " " New Zealand Loan Act, 1860" " New Zealand Loan Act, 1863 " " New Zealand Debentures Act, 1864," and "Amendment Act, 1865 " " Consolidated Loan Act, 1867 " " Immigration and Public Works Loan Act, 1870" " Immigration and Public Works Loan Act, 1873 " " Immigration and Public Works Loan Act, 1874 " " Defences and Other Purposes Loan Act, 1870 " ... " General Purposes Loan Act, 1873 " Treasury Bills " Westland Loan Act, 1873 "... £ S. d. 311 0 0 156,000 0 0 93,100 0 0 1,519,400 0 0 50 0 0 2,064,325 0 0 3,171,024 0 0 1,500,000 0 0 4,000,000 0 0 586,600 0 0 250,000 0 0 572,000 0 0 50,000 0 0 £ s. d. 6,240 0 0 5,586 0 0 76,284 0 0 103,138 5 0 150,213 14 0 67,500 0 0 180,000 0 0 28,705 0 0 11,952 0 0 29,359 13 9 2,500 0 0 £ s. d. 6,560 0 0 1,862 0 0 20,508 0 0 20,485 5 0 20,756 4 10 £ S. d. 12,800 0 0 7,448 0 0 96,792 0 0 123,623 10 0 170,969 18 10 67,500 0 0 180,000 0 0 33,071 0 0 11,952 0 0 29,359 13 9 2,500 0 0 4,366 0 0 Total Colonial Government 661,478 12 9 13,962,810 0 0 74,537 9 10 736,016 2 7

8.—2

34

Tab] Q A. — contin ued. STATEMENT showing th, i Public Debt o: E the Colony— continued. Annual Charge. Amount of Debentures in Circulation on June 30,1876. Interest. Sinking Fund. Total. Auckland i— " New Zealand Loan Act, 1856 " " Consolidated Loan Act, 1867 " " Defence and Other Purposes Loan Act, 1870" ... " Immigration and Public Works Loan Act, 1870 " " Auckland Loan Act, 1863 "... £ s. a. 90,000 0 0 510,150 0 0 50,000 0 0 14,175 0 0 31,600 0 0 £ s. d. 3,600 0 0 25,507 10 0 2,500 0 0 708 15 0 1,896 0 0 £ s. d. 900 0 0 5,101 10 0 500 0 0 141 15 0 632 0 0 £ b. d. 4,500 0 0 30,609 0 0 3,000 0 0 850 10 0 2,528 0 0 Total Auckland ... 695,925 0 0 34,212 5 7,275 5 0 41,487 10 0 TAEANAKI :— " Consolidated Loan Act, 1867 " " Defence and Other Purposes Loan Act, 1870 " ... 27,000 0 0 6,000 0 0 1,350 0 0 300 0 0 250 0 0 60 0 0 1,600 0 0 360 0 0 Total Taranaki ... 33,000 0 0 1,650 0 0 310 0 0 1,960 0 0 .Wellington :— " New Zealand Loan Act, 1856 " " Consolidated Loan Act, 1867 " " Defence and Other Purposes Loan Act, 1870 "... " Immigration and Public Works Loan Act, 1870 " " Wellington Loan Act, 1862 " " Wellington Loan Act, 1806 " " Wellington Debts Act, 1871" 27,000 0 0 180,403 0 0 17,000 0 0 10,180 0 0 2,000 0 0 10,327 10 0 75,000 0 0 1,080 0 0 9,020 3 0 850 O 0 509 0 0 160 0 0 826 4 0 3,750 0 0 270 0 0 1,334 0 7 170 0 0 101 16 0 80 0 0 206 11 0 1,350 0 0 10,354 3 7 1,020 0 0 610 16 O 240 O 0 1,032 15 0 3,750 0 0 Total Wellington 321,010 10 0 16,195 7 0 2,162 7 7 18,357 14 7 Bjotke's Bay :— " New Zealand Loan Act, 1856 " " Consolidated Loan Act, 1807 " " Wellington Loan Act, 1860 " " Immigration and Public Works Loan Act, 1870" 27,000 0 0 83,147 0 0 3,172 10 0 21 0 0 1,080 0 0 4,157 7 0 253 16 0 110 270 0 0 831 9 5 63 9 0 0 4 2 1,350 0 0 4,988 16 5 317 5 0 15 2 Total Hawke's Bay 113,340 10 0 5,492 4 0 1,165 2 7 6,657 6 7 Nelson :— " New Zealand Loan Act, 1856 " " Consolidated Loan Act, 1867" " Nelson Waterworks Loan Act, 1864 " 33,433 0 0 41,021 7 7 6,200 0 0 1,337 6 5 1,999 1 5 ■196 0 0 334 6 7 358 4 3 124 O 0 1,671 13 0 2,357 5 8 620 0 0 Total Nelson 80,654 7 7 3,832 7 10 816 10 10 4,648 18 8 Maelbobouqh :— "New Zealand Loan Act, 1856 " " Consolidated Loan Act, 1867 " 11,567 0 0 7,878 12 5 462 13 71 393 18 7! 115 13 5 78 15 9 578 7 0 472 14 4 Total Marlborough 19,445 12 5 856 12 2 194 9 2 1,051 1 4 Cantebbuby:— " New Zealand Loan Act, 1856 " " Consolidated Loan Act, 1867 " " Lyttelton and Christchurch Eailway Loan Act, 1860" ... " Canterbury Loan Ordinance, 1862 " ... 51,230 15 5 561,680 15 4 2,049 4 7 28,084 0 9 512 6 2 5,616 16 2 2,561 10 9 33,700 16 11 53,792 6 2 15,784 12 4 3,227 10 9 947 1 6 1,075 16 11 157 16 11 4,303 7 8 1,104 18 5 Total Canterbury 682,488 9 3 34,307 17 7 7,362 16 2 41,670 13 9 Westland :— " New Zealand Loan Act, 1856" " Consolidated Loan Act, 1867 " " Lyttelton and Christchurch Eailway Loan Act, 1860" ... " Canterbury Loan Ordinance, 1862 " ... 22,769 4 7 153,369 4 8 910 15 5 7,668 9 3 227 13 10 1,533 13 10 1,138 9 3 9,202 3 1 23,907 13 10 7,015 7 8 1,434 9 3 420 18 6 478 3 1 70 3 1 1,912 12 4 491 1 7 Total Westland ... 207,061 10 9 10,434 12 5 2,309 13 10 12,744 6 3 OTAGO : — " New Zealand Loan Act, 1856 " " Consolidated Loan Act, 1867 " " Defence and Other Purposes Loan Act, 1870" ... " North Otago District Public Works Loan Act, 1872" ... " Otago Loan Ordinance, 1862 " 81,000 0 0 1,031,125 O 0 90,400 0 0 3,240 0 0 51,556 5 0 4,520 0 0 810 0 0 10,241 5 0 904 0 0 4,050 0 0 61,797 10 0 5,424 0 0 48,900 0 0 116,700 0 0 2,445 0 0 7,002 0 0 6,800 0 0 1,167 0 0 9,245 0 0 8,169 0 0 Total Otago 1,368,125 0 0 68,763 5 0 19,922 5 0 88,685 10 0 SuiIMABY :— Colonial Government Provincial Grovernmenta 13,962,810 0 0 3,521,951 0 0 661,478 12 9 175,744 11 0 74,537 9 10 41,518 10 2 736,016 2 7 217,263 1 2 • Total ... 17,484,701 0 0 837,223 3 9 116,050 0 0 953,279 3 9

8.—2

35

Table B. STATEMENT showing the SUMS APPROPRIATED out of the CONSOLIDATED FUND, for the Financial Year 1875-76; the RECOVERIES to CREDIT; the EXPENDITURE actually made during the Year; and the AMOUNTS UNEXPENDED or EXPENDED in EXCESS.

AUTHOEIZKD. Actual Ekpexdixuee. Amount Unexpended. Expended IN Excess. h Estimates. Credits. Totala. LIABILITIES AND ENGAGEMENTS. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ 8. d. Civil. List: — Division I. Division II. ... ... ... ... ,,, 7 10 0 37G 18 5 788 19 6 Permanent Charges: — Interest and Sinking Fund ... Under Acts of the General Assembly ! G 1 8 284,181 4 2 ! 3,991 16 7 j 1 2 3 4 5 6 7 8 9 10 11 la u 16 16 17 18 19 21 aa 2 1 26 a? 28 as 81 32 88 ApPKOPEIATIONS :— Vote I.,— Liabilities and Engagements, 30th June, 1875, — Legislative Executivo Stamps Printing Geological and Meteorological Electoral Crown Lands Supreme Court District Courts Resident Magistrates' Courts... Petty Sessions Courts Criminal Prosecutions Coroners Act Lunatics Act Law and Justice, Contingencies Land Transfer Deeds Registry Postal Telegraphic Customs Marino ... ... ... ... ... Miscellaneous Exchange and Commission ... Special Allowances to Civil Servants Native Contingencies Native Schools Nativo Lands Frauds Prevention Act ... Militia and Volunteers, Store Department Militia and Volunteers, North Island ... Militia and Volunteers, South Island ... Government Domains Public Buildings Railways ... £150 0 0 500 0 0 400 0 0 100 0 0 250 0 0 1,700 0 0 30 0 0 300 0 0 180 0 0 400 0 0 20 0 0 650 0 0 400 0 0 50 0 0 850 0 0 300 0 0 300 0 0 3,700 0 0 2,100 0 0 300 0 0 1,700 0 0 9,000 0 0 5 0 0 100 0 0 3,500 0 0 1,500 0 0 10 0 0 20 0 0 2,750 0 0 710 0 0 100 0 0 3,800 0 0 200 0 0 I I I i 36,075 0 0 51 12 4 140 a s 4 ... ... ... 41 13 4 2 16 0 i 6 4 0 i ... 33 6 8 314 U 1 6 2 6 23 15 1 27 8 6 174 15 6 106 8 0 598 1 2 57 11 0 80 17 3 203 4 10 1,752 18 0 33 10 8 291 10 1' 164 5 6 588 11 4 33 7 8 601 16 10 382 0 0 73 10 0 865 18 1 307 3 11 272 3 4 4,992 17 9 2,327 3 0 273 15 4 463 2 5 9,458 14 0 13 0 62 2 2 3,G52 7 5 1,363 15 7 8 6 8 8 10 0 1,549 11 11 355 16 10 40 2 1 5,078 4 11 133 14 0 36,802 10 4 620 5 7 ... 32 10 0 9 5 0 I ... ! ... i ... I I Payments to Faomron 10,786 17 8 Total Liabilities ... ,., ... 711 2 0 ! 336,308 1 1

36

]?.—2

Table 13 — continued. STATEMENT showing the Extendituhe Estimated, &c. — continued. o Authorized. Expended in Excess. Actual Expenditure. Amount Unexpended. Estimates. Credits. Totals. FINANCIAL YEAR 1875-76. £ 8. d. £ s. d. £ s. d. £ b. d. £ s. d. £ s. d. Civil List. 5,000 0 0 7,700 0 0 10,050 0 0 5,000 0 0 7,700 0 0 10,050 0 0 5,000 0 0 6,575 0 0 9,449 9 3 1,125 0 0 600 10 9 Division I.: — Governor Judges ... Establishment of General Government Division II.: — Native Purposes ... 7,000 0 0 50 19 0 7,050 19 0 6,367 5 9 683 13 3 Total Civil List... 29,750 0 0 50 19 0 29,800 19 0 | 27,391 15 0 2,409 4 0 Permanent Charges. Interest and Sinking Fund: — Colonial Charges ... Provincial Charges Under Acts of the General Assembly: — Colonial Charges ... Provincial Charges ... ... ... 740,658 12 2 197,909 17 10 4,576 1 0 745,234 13 2 197,909 17 10 57,087 3 6 23 12 0 590,831 6 2 197,909 17 10 56,838 5 3 23 12 0 154,403 7 0 248 18 3 57,087 3 6 23 12 0 Total Permanent Charges 995,679 5 6 4,576 1 0 I 1,000,255 6 6 845,603 1 3 154,052 8 » Appropriations. 2 3 4 5 7 8 9 10 Class I.—Public Departments: — Legislative Department Executive Stamp ... - ... Printing... Store Geological and Meteorological Electoral Crown Lands Inspection of Machinery 30,320 2 0 19,756 14 0 4,076 13 4 10,030 5 9 737 10 0 3,360 0 0 3,835 0 0 1,865 0 0 1,850 0 0 45 6 9 8 6 8 1,203 15 3 1 17 0 30,320 2 0 10,802 0 9 4,085 0 0 12,134 1 0 737 10 0 3,361 17 0 3,835 0 0 1,898 6 8 1,855 5 0 27,806 10 2 20,055 13 2 3,E31 7 6 13,015 7 5 725 16 8 2,993 12 3 5,282 4 6 1,724 7 10 1,494 11 9 2,513 11 10 153 12 6 11 13 4 368 4 9 253 12 5 881 6 5 1,447 4 6 33 0 8 5 5 0 •173 18 10 360 13 3 Total Class I. ... 76,731 5 1 1,297 17 4 78,029 2 5 77,029 11 3 3,581 14 6 2,582 3 4

37

8.—2

I able Jb> — continued. STATEMENT showing the Expeitdittjbe Estimated, &c. — continued. Authorized. Actual Amount expenditure, unexpended. Expended IN Excess. Estimates. Credits. Totals. 11 12 13 It 15 16 17 18 19 20 21 22 Class II. —Law and Justice :— Department of Justice Crown Law Oilice Supreme Court District Courts. Vole, £5,170, plus Bailiffs' fees in certain districts, £82 2s. 6d. ... Resident Magistrates' Courts. Vote, £22,184 15s., plus Bailiffs' fees in certain districts, £1,875 Ms. Id. Petty Sessions Courts Criminal Prosecutions, Witnesses and Jurora ... Coroners Act, 1867 Lunatics Act, 1868 Contingencies ... ... ... ... Land Transfer Department ... ... ... Deeds Registry ... ... £ s. d. 1,175 0 0 2,660 0 0 7,336 0 0 5,252 2 6 24,060 9 1 100 0 0 6,000 0 0 1,800 0 0 500 0 0 1,600 0 0 9,575 0 0 9,255 0 0 £ s. d. 17 10 0 0 18 0 51 16 0 £ s. d. 1,175 0 0 2,660 0 0 7,353 10 0 5,253 0 6 24,112 5 1 100 0 0 6,000 0 0 1,800 0 0 500 0 0 1,613 10 0 9,685 8 4 9,306 5 0 £ s. d. 1,213 5 0 1,823 10 0 7,454 4 11 5,313 2 6 23,025 3 10 181 7 8 6,007 17 9 2,036 7 6 504 4 0 2,153 18 7 9,276 10 3 9,350 17 2 £ b. d. 836 10 0 1,087 1 3 £ s. d. 38 5 0 100 14 11 60 2 0 81 7 8 7 17 9 236 7 6 4 4 0 540 8 7 13 10 0 110 8 4 51 5 0 408 18 1 44 12 2 Total Class II. ... 69,313 11 7 245 7 4 69,558 \8J\1_ 68,340 _9 J2 2,332 9 <l 1,113 19 7 23 21 Class III. —Postal and Telegbaph:— Postal Department Telegraph Department 147,468 0 0 75,511 0 0 1,920 14 3 444 7 7 149,388 14 3 75,955 7 7 139,321 8 4 77,327 19 5 10,067 5 11 1,372 11 10 Total Class III. 222,979 0 0 2,305 1 10 225,344 1 10 _216,649_ 7 9 10,067 5 11 i 1,372 11 10 86 20 Class IV. —Customs Department :— Customs... Marine ... 41,997 14 6 16,295 0 0 ! 50 13 11 207 9 2 42,048 8 5 16,502 9 2 39,703 3 9 10,068 6 11 2,345 4 8 6,434 2 3 Total Class IV.... 58,292 14 6 258 3 1 58,550 17 7 49,771 10 8 8,779 6 11 27 28 29 Class V.—Miscellaneous, Special, and Temporary Objects :— Miscellaneous and Temporary Objects .... Exchange and Commission ... ,,, • Museum ... ... ... ... 46,234 15 1 3,200 0 0 500 0 0 670 6 10 0 3 0 46,905 1 11 3,200 3 0 500 0 0 40,389 19 8 2,147 17 4 500 0 0 • 515 2 3 1,052 5 8 Total Class V. ... 49,934 15 1 670 9 10 50,605 4 11 | 49,037 17 0 1,567 7 11 I

JL/t —

38

Table B — continued. STATEMENT showing the Expendituee Estimated, &c. — continued. d ■ AUTHOKIZED. Actual ExrEXDITUBE. Amount Unexpended. Expended in Excess. Estimates. Credits. Totals. 80 81 81 :s:s M Class VI.—Native:— Salaries and Contingencies ... Native Schools ... ... ... ... Native Lauds Court Native Lands Frauds Prevention Act Wairarapa 5 per cent. Laud Purchase Account £ I. d. 25,206 9 2 10,000 0 0 1,175 0 0 450 0 0 300 0 0 £ o. d. • 154 10 0 ! 331 3 3 4 11 0 8 6 8 £ s. d. 25,360 19 2 10,331 3 3 1,179 11 0 458 6 8 300 0 0 £ s. d. 24,422 2 7 10,165 17 7 1,098 3 8 433 4 2 271 15 0 £ s. d. 938 16 7 165 5 8 81 7 4 20 2 6 28 5 0 £ e. d. Total Class VI.... 37,131 9 2 ! 498 10 11 37,630 0 1 36,396 3 0 1,233 17 1 35 ■AC, 38 Class VII. —Militia and Volunteers :— Militia and Volunteer Office Militia and Volunteer Store Department Militia and Volunteers, North Island Militia and Volunteers, South Island 325 0 0 3,119 18 0 11,822 16 0 ; 7,617 6 0 j 120 12 0 8 6 8 325 0 0 3,240 10 0 11.83L 2 8 7,617 6 0 325 0 0 3,034 1 9 9,506 3 7 7,082 0 0 206 8 3 2,324 19 1 535 6 0 Total Class VII. 22,885 0 0 128 18 8 23,013 IS 8 ! 23,013 IS 8 19,947 5 4 ; 3,066 13 4 39 40 '11 Class VIII. —Public Domains and Buildings :— Government Domains Public Buildings ... Office of Colonial Architect 1,191 4 0 : 26,300 0 0 1,860 0 0 0 5 0 19 17 3 = 1,191 9 0 ! 26,319 17 3 1,860 0 0 J ; 1,012 15 0 ! 178 14 0 13,342 14 5 12,977 2 10 1,850 10 8 9 9 4 Total Class VIII 29,351 4 0 : 20 2 3 29,371 6 3 16,206 0 1 13,165 6 2 ■12 li ■10 47 48 ifi 50 51 52 Class IX. —Railways :— Head Office and Audit Auckland and Mercer ... ... ,,, Kaipara ... ... ... ... Napier and Waipukarau ... ... ,,, Wellington and Mastcrton ... ... ... Poxton Tramway ... ... ,., Wangauui and JIanawatu ... ... ... New Plymouth aucl Waitara ... .., Picton and Blenheim ... ,., Nelson and Foxhill ... .., ,,, Brunner Railway ... ... .,. 3,500 0 0 23,511 8 0 6,601 6 C '■ 12,022 8 0 : 9,738 12 0 11,501 8 0 4,970 15 10 5,964 11 8 9,136 6 0 6,991 14 6 6,875 15 6 3,594 2 11 : 714 13 2 ! 4 8 0 600 0 6 ... ... 30 8 4 7,094 2 11 24,226 1 2 6,601 6 6 12,022 8 0 9,743 0 0 12,101 8 6 ! 4,970 15 10 j 5,964 11 8 i 9,166 14 4 I 6,991 14 6 6,875 15 6 3,594 2 11 21,176 11 4 2,443 16 11 7,283 2 9 5,508 14 11 9,866 4 9 2,114 14 3 2,897 7 7 1,853 10 4 608 3 9 3,500 0 0 3,049 9 10 4,157 9 7 4,739 5 3 4,174 5 1 2,235 3 9 4,970 15 10 3,819 17 5 6,269 6 9 5,138 4 2 6,267 11 9 Total Class IX. 100,814 6 0 4,913 12 11 ! 105,757 18 11 57.40G 9 G 48,351 9 5

39

8.—2

Table B — continued. STATEMENT the Eipexditube Estimated, &o. — continued. 6 5 Authorized. Actual ExPENDITUEE. Amount Unexpended. Expended in Excess. Estimates. Credits. Totals. £ s. d. £ s. d. £ s. d. £ s. «L £ s. d. £ s. d. 53 CLASS X. —AHMED CoNSTABULAEY :— Armed Constabulary 01,000 0 0 14,399 4 0 105,399 4 0 105,114 2 1 285 1 11 Total Class X. 91,000 0 0 14,399 4 0 105,399 4 0 105,114 2 1 285 1 11 54 55 Class XI. —Municipalities, Eoad Boards, and Out-Distbicts :— Grants to Municipalities and Road Boards Local Public Works in Out-Districts 60,000 0 0 20,000 0 0 91 6 11 60,091 6 11 20,000 0 0 53,055 8 4 7,035 18 7 20,000 0 0 Total Class XI. 80,000 0 0 91 6 11 80,091 6 11 53,055 8 4 27,035 18 7 SUMMARY. Financial Year 1875-76 :— Civil List Permanent Charges Appropriations — Class L—Public Departments ... ... ,, II. —Law and Justice ... „ III.— Postal and Telegraph » IV.—Customs... » V.—Miscellaneous „ VI.—Native ... ... ... ... ,., » VII. —Militia and Volunteers >, VIII. —Public Domains and Buildings » IX. —Railways „ X. —Armed Constabulary ji XI. —Municipalities, &c. 29,750 0 0 995,679 5 6 50 19 0 4,576 1 0 29,800 19 0 1,000,255 6 6 27,391 15 0 845,603 1 3 2,409 4 0 154,652 5 3 76,731 5 1 69,313 11 7 222,979 0 0 58,292 14 6 49,934 15 1 37,131 9 2 22,885 0 0 23,351 4 0 100,814 6 0 91,000 0 0 80,000 0 0 1,297 17 4 245 7 4 2,365 1 10 258 3 1 670 9 10 498 10 11 128 18 8 20 2 3 4,943 12 11 14,399 4 0 91 6 11 78,029 2 5 69,558 18 11 225,344 1 10 58,550 17 7 50,605 4 11 37,630 0 1 23,013 18 8 29,371 6 3 105,757 18 11 105,399 4 0 80,091 6 11 77,029 11 3 68,340 9 2 216,649 7 9 49,771 10 8 49,037 17 0 36,396 3 0 19,947 5 4 16,206 0 1 57,406 9 6 105,114 2 1 53,055 8 4 3,581 14 6 2,332 9 4 10,067 5 11 8,779 6 11 1,567 7 11 1,233 17 1 3,066 13 4 13,165 6 2 48,351 9 5 285 1 11 27,035 18 7 276,528 0 4 2,582 3 4 1,113 19 7 1,372 11 10 Totals 1,863,862 10 11 29,545 15 1 1,893,408 6 0 ! 1,621,949 0 5 5,068 14 9

X— 2

40

Table DR STATEMENT of RECEIPTS and EXPENDITURE of the PUBLIC

£ s. d. £ s. d. £ e. d. EECBIPTS. Consolidated Fund :— Assets of 1874-75,— Miscellaneous recoveries Amount transferred from account for " Railways open for Traffic" Temporary advance to Trust Fund Imperial Government on account of Postage Provinces, on account of Unauthorized Expenditure Auckland, on account of advances under " Provincial Public Works Advances Act, 1874 " Balance at debit of Capitation Account, Otago, 30th June, 1875 745 3 0 6,092 5 3 20,000 0 0 11,408 1 4 1.9G9 17 1 12,370 1 9 414 12 2 Temporary advance to Public Works Account repaid » 53,000 0 7 277,163 4 7 Eeceipts in reduction of Expenditure,— Civil List Charges of the Public Debt Appropriations 7 10 0 6 18 727 10 4 741 2 0 Financial Year, 1875-76, — Ordinary Revenue, — Customs ... Stamp Duties Postal ... ... ... ... ... ,„ Telegraphic Judicial Fees and Fines Registration and other Fees ... Railways ... ... ... • ... Incidental Receipts... 1,247,700 11 4 114,429 9 1 80,656 0 9 63,970 10 3 38,726 8 6 40,743 17 2 63,939 6 2 51,677 10 10 330,904 7 2 Receipts in reduction of Expenditure,— Civil List ... ... ... ... £50 19 0 Charges of the Public Debt ... ... 4,576 1 0 Appropriations ... ... ... 24,918 15 1 1,701,843 14 1 Railway Stores and Workshops Account Services not provided for Refunds of Revenue Debentures redeemed as per contra, transferred to Consolidated Loan Act Account ... Advances to Land Fund, Auckland 29,545 15 1 23,981 15 2 420 10 3 3 17 3 17,950 0 0 201 4 5 * Recoveries for Interest, &e., on constructed Railways,— Auckland ... ... ,,, Wellington Hawke's Bay Canterbury Otago \ ... 72,103 2 2 17,279 12 11 149 6 11 2,121 19 0 21,582 17 8 8,320 6 6 Treasury Bills, — Under " Provincial Public Works Advances Act, 1874 " .. Under " Provincial Appropriations Extension Act, 1875 " 49,454 3 0 80,000 0 0 92,000 0 0 172,000 0 0 Temporary advances from Public Works Account under section 14 " Public Revenues Act, 1875 " 300,000 0 0 Total Receipts 2,295,400 19 3 2,626,305 6 5 Balance on 30lh June, 1875, — Cash in the Public Account ... Advances to be accounted for, — Colonial... Foreign ... 14,575 9 0 944 8 6 64,553 17 5 15,519 17 G 80,073 14 11 Total Consolidated Fund £2,706,379 1 4 * Balances oa 30th June, 1870, to be recovered—Auckland, £3,494 23.; 'S Otago, £1,013 His. lod. Total, Wellington, £1,181 13s. £7,68114s. 3d. id.: Canterbury, £1,' 52 2s. 2d.;

41

8.—2

B (1.) ACCOUNT for the FINANCIAL YEAR 1875-76. CR.

EXPENDITUEE. Consolidated Fund :— Liabilities of 1874-75,— Colonial Charges,— Civil List Charges of the Public Debt ... Charges under Permanent Acts Appropriations ... ... ... £ e. d. 1,165 17 11 284,181 4 2 3,991 16 7 36,182 4 9 £ s. d. £ s. d. Provincial Charges,— Capitation and Special Allowances under " Payments to Provinces Act, 1872 " ... ■ Financial Year 1875-76,— Colonial Charges,— Civil List ... Charges of the Public Debt ... ... £788,741 4 0 Less Provincial Charges ... ... 197,909 17 10 Charges under Permanent Acts ... Appropriations,— Class I.—Public Departments ... £77,029 11 3 II.—Law and Justice ... 68,340 9 2 III.—Postal and Telegraph ... 216,649 7 9 IV.—Customs ... ... 49,771 10 8 V.—Miscellaneous ... ... 49,037 17 0 VI.—Native ... ... 36,396 3 0 VII.—Militia and Volunteers ... 19,947 5 4 VIII.—Public Domains and Buildings 16,206 0 1 IX.—Railways ... ... 57,406 9 6 X.—Armed'Constabulary ... 105,114 2 1 XL—Municipalities, &c. ... 53,055 8 4 27,391 15 0 590,831 6 2 56,838 6 3 325,521 3 5 10,786 17 8 336,308 1 1 £748,954 4 2 Less unauthorized ... ... 5,068 14 9 Railway Stores and Workshops Account £47,901 12 10 Less Unauthorized ... ... 3,919 17 8 743,885 9 5 Refunds of Revenue Unauthorized, — In excess of Votes ... ... 5,068 14 9 Services not provided for ... ... 8,343 11 9 Railway Stores and Workshops Account 3,919 17 8 43,981 15 2 3,602 10 8 2,248,836 7 1 17,332 4 2 Moiety of Stamp Duties, transferred to Public Works Account... Redemption of Debentures of Nelson and Otago Loans (charged temporarily) Temporary Advances from Public Works Account, as per contra, repaid ... ... 57,207 9 0 17,950 0 0 300,000 0 0 1,859,020 14 10 Provincial Charges,— Charges of the Public Debt Charges under Permanent Acts Capitation and Special Allowances under " Payment to Provinces Act, 1872" ... Advances to Land Fund, Auckland ... Advances under "Provincial Public Works Advances Act, 1874"... Advances under " Provincial Appropriations Extension Act, 1875" ... 197,909 17 10 23 12 0 74,928 9 11 201 4 5 36,200 0 0 80,552 8 1 389,815 12 3 Total Expenditure Balance on 30th June, 1876,— Cash in the Public Account ... ... ... ... Advances to be accounted for, — Colonial Foreign 69,678 13 3 2,585,144 8 2 19,820 1 6 31,735 12 5 51,555 19 11 121,234 13 2 Total Consolidated Fund £2,706,379 1 4

8.—2

42

Table DR. STATEMENT of the RECEIPTS and EXPENDITURE of the

RECEIPTS. £ s. d. £ s. d. £ s. d. ipecial Funds :— "New Zealand Settlements Acts, 1863-66," — Balance on 30th June, 1875, — Cash in the Public Account Advances to be accounted for 856 12 11 5,690 4 9 £6,546 17 8 " Consolidated Loan Act, 1867,"— Sales of Debentures ... ... ... ' ... Premium thereon 32,000 0 0 1,632 10 0 Amount issued to redeem debentures of Otago Public Buildings Loan, refunded 33,632 10 0 600 0 0 Total Receipts 34,232 10 0 Balance on 30th June, 1875, — Cash in the Public Account Advances to be accounted for 8,551 17 0 2,101 3 0 10,653 0 0 £44,885 10 0 "Defence and Otheb Ptoposes Loan Act, 1870,"— Recoveries for credit of Votes, — Contingent Defence and Liabilities ... Roads ... Temporary advance from Public Works Account, under section 10, " Immigration and Public Works Appropriation Act, 1875" 6,619 12 2 6 18 0 70,000 0 0 Total Receipts 76,626 10 2 Balance on 30th June, 1875,— Cash in the Public Account Advances to be accounted for 24,860 5 4 10,579 19 6 35,440 4 10 Balance on 30th June, 1876, — * Debit balance, Public Account Less advances to be accounted for ... 126,699 4 3 780 14 1 125,918 10 2 £237,985 5 2 Public Works Account, — Sales of Debentures, — Balance of Four Million Loan of 1874 Sales in the Colony 1,667,884 0 0 15,547 0 0 Temporary advances on guaranteed Debentures 1,683,431 0 0 140,000 0 0 Sales of Land 548 5 9 Recoveries for credit of Totes, — Class I. —Immigration „ II.—Departmental, Public Works „ III.—Kail ways „ IV.—Roads „ V.—Land Purchases, North Island ... „ VI.—Water Works on Gold Fields ... „ VII.—Coal Mines ... „ VIII. —Telegraph Extension ... „ IX. —Public Buildings „ X.—Lighthouses ... 34,489 4 9 550 2 5 34,398 1 11 5,953 15 2 1,337 16 10 188 15 10 5 13 6 2,276 0 3 1,505 2 0 15 10 0 Railways G-eneral Account, — Transfers to Votes 80,720 2 8 211,312 14 3 Carried forward 2,116,012 2 8 * Covered b>roceeds of Debentures not pet brouj jht to account.

43

8.—2

JJ (1) — continued. PUBLIC ACCOUNT for the Financial Tear 1875-76. Ce. EXPENDITURE. £ a. d. £ e. d. £ 8. d. Special Funds: — "New Zealand Settlements Acts, 1863-66," Balance on 30th June, 1875, transferred to Confiscated Lands Liabilities Account, Land Fund 6,546 17 8 £6,546 17 8 "Consolidated Loan Act, 1867," — Redemption of Debentures, —■ " Otago Loan Ordinance, 1861-62"... " Otago Public Buildings Loan Ordinance, 1862 " 6,000 0 0 16,425 0 0 22,425 0 0 8,000 0 0 513 19 9 "Nelson Waterworks Loan Act, 1864" Charges and Expenses... Total Expenditure 30,938 19 9 Balance on 30th June, 1876, — Advances to be accounted for, —- Colonial Foreign 2,101 3 0 24,250 0 0 * Less debit balance Public Account 26,351 3 0 12,404 12 9 13,946 10 3 £44,885 10 0 "Defence and Other Purposes Loan Act, 1870," — Contingent Defence and Liabilities Transfers to Confiscated Lands Liabilities Account, Land Fund Roads, North Island ... Unauthorized 40,293 7 1 45,000 0 0 12,691 4 2 0 13 11 Short-dated Debentures redeemed Repayment of temporary advance from Public Works Account 97,985 5 2 70,000 0 0 70,000 0 0 Total Expenditure 237,985 5 2 * £237,985 5 2 Public Wobks Account, — Class I. —Immigration ,, II. —Departmental, Public Works „ III. —Railways „ IV.—Roads ... „ V. —Land Purchases, North Island „ VI. —Waterworks on Gold Fields „ VII.—Coal Mines „ VIII.—Telegraph Extension „ IX.—Public Buildings ,. X.—Lighthouses „ XI.—Charges and Expenses of raising Loans 383,187 10 10 16,001 14 10 1,634,530 14 2 45,794 18 2 125,038 10 8 99,093 9 1 2,255 3 3 37,297 11 10 68,131 12 2 22,879 13 8 136,981 16 0 Less in excess of Votes 2,571,192 14 8 50,312 9 5 2,520,880 5 3 Railways General Account, —■ Payments under section 6, "Immigration and Public Works Appropriation Act, 1875 " ... 47,940 14 10 Carried forward 2,568,821 0 1 * Covered by proceeds of Debentures sold to Trustees of Sinking Funds in London, not yet brought to account.

8.—2.

44

Table DR. STATEMENT of the RECEIPTS and EXPENDITURE of the

RECEIPTS. £ s. d. £ s. d. £ s. d. Brought forward Special Funds — continued. Public Wobks Account — continued. Province of Otago, — Repayment of advances for Immigrants' Cottages Repayment of advances under "Otago Provincial Public Works Advances Act, 1874" ... 3,000 0 0 2,116,012 2 8 5,208 6 8 8,208 6 8 Native Lands Acts Account, — Transfers to "Votes for Land Purchases 9,719 18 5 Confiscated Lands, — Repayment of temporary advances made prior to 30th June, 1875 20,500 0 0 Consolidated Fund, — Moiety of Stamp Duties, 1875-76 ... >.. Repayment of advances under section 14, " Public Revenues Act, 1875 " 57,207 9 0 300,000 0 0 2,584,647 16 9 Repayment of temporary advances made prior to 30th June, 1875, for Railway Stores, &c. 3,000 0 0 Defence Loan,— Repayment of advance under Bection 10, " Immigration and Public Works Appropriation Act, 1875 " 360,207 9 0 70,000 0 0 Total Receipts Balance on 30th June, 1875, — Cash in the Public Account, — Immigration and Public Works Loan G-eneral Purposes Loan ... 2,126,572 18 2 67,020 17 1 Advances to be accounted for, — Immigration and Public Works Loan, — Colonial ... ... ... £35,050 17 11 Foreign ... ... ... 25,464 15 7 2,193,593 15 3 2,254,151 0 0 General Purposes Loan ... 60,515 13 6 41 11 3 60,557 4 9 Total £ 4,838,798 16 9 Railways Open toe Traffic,— Balance on 30th June, 1875,— Cash in the Public Account Advances to be accounted for 6,826 16 6 783 13 7 £7,610 10 1 " Wellington Reclaimed Land Act, 1871," — Rents received from the Corporation of the City of Wellington Sale of Section 2,074 11 0 8,000 0 0 Total Receipts 10,074 11 0 Balance on 30th June, 1875 Cash in the Public Account 81 10 11 "Wellington Debts Act, 1872," Redemption Account, — Land Sales ... Promissory Notes, Emigrant and Colonist's Aid Corporation, retired ... Interest on Investments Amount invested in Immigration and Public Works loan Debentures, now placed in Special Funds Investment Account 7 13 9 £10,156 1 11 1,447 13 9 743 19 7 14,453 0 0 Balance on 30th June, 1875, — Cash in the Public Account ... ... ... 16,652 7 1 67 2 1 £16,719 9 2

8.—2

45

J3 (1) — continued. PUBLIC ACCOUNT for the Financial Yeae, 1875-76. Ce. EXPENDITURE. £ s. d. £ s. d. £ s. d. Brought forward Special Funds — continued. Public Woeks Account — continued. Province of Otago, — Payments under " Otago Provincial Public WorkB Advances Act, 1874 " ... ... ... ... 2,568,821 0 1 46,658 12 5 Native Lands Acts Account, — Transfers under section 6, " Appropriation Act, 1875 " 14,000 0 0 Unauthorized, — In excess of Votes Services not provided for ... 50,312 9 5 1,038 4 6 51,350 13 11 44,200 0 0 Redemption of short-dated Debentures Repayment of temporary advances on guaranteed Debentures 280,000 0 0 Consolidated Fund, — Repayment of temporary advance Advances under section 14, " Public Revenues Act, 1875 " 277,163 4 7 300,000 0 0 577,163 4 7 Defence Loan, — Advance under section 10, "Immigration and Public Works Appropriation Act, 1875 "... 70,000 0 0 Bills Payable,— Amount of Drafts on Crown Agents, London, outstanding on 30th June, 1875, transferred to Bills Payable Account 1,050,000 0 0 Total Expenditure ... ... 4,702,193 11 0 Balance on 30th June, 1876, — Advances to be accounted for, — Colonial Foreign ... ... ... 18,743 1 9 298,232 5 2 316,975 6 11 Deduct, — *Debit balance, Public Account... 180,370 1 2 136,605 5 9 Total £4,838,798 16 9 Railways open job Teaffic, — Balance on 30th June, 1875, transferred to Consolidated Fund,— Railways Railway Stores and Workshops 6,092 5 3 1,518 4 10 7,610 10 1 £7,610 10 1 " Wellington Reclaimed Land Act, 1871," — Interest on £31,000, at 5 per cent., for year ended 30th June, 1876, transferred to Consolidated Fund 1,550 0 0 Total Expenditure 1,550 0 0 Balance on 30th June, 1876,— CaBh in the Public Account In Special Funds Investment Account 7,487 5 6 1,118 16 5 8,606 1 11 £10,156 l 11 " Wellington Debts Act, 1872," Redemption Account, — Expenditure, nil. Balance on 30th June, 1876,— Cash in the Public Account In Special Funds Investment Account 962 16 3 15,756 12 11 £16,719 9 2 • Covered by advances on security of Guaranteed Debentures not yet brought to account.

8.—2

46

Table DR. STATEMENT of the RECEIPTS and EXPENDITURE of the

RECEIPTS. Special Funds — continued. "Noeth Otago Distbict Public Wobks Loan Act, 1872," — Sales of Debentures ... Land Sales, &c. Total Receipts £ s. d. £ s. d. 3,000 0 0 10,199 19 1 £ s. d. 13,199 19 1 Balance on 30th June, 1875,— Cash in the Public Account 160 0 0 £13,359 19 1 "Westland Loan Act, 1873," Redemption Account, — Rents 25 0 0 Balance on 30th June, 1875, — Cash in the Public Account 269 5 0 £294 5 0 State Fokests Account, — Transfers from Consolidated Fund under section 2 of "The New Zealand Forests Act, 1874," 1st January, 1875, to 30th June, 1876 15,000 0 0 £15,000 0 0 iand Fund.:— Land Revenue, — Ordinary ... ... ... ... £808,027 5 0 Confiscated Lands ... ... ... 36,404 1 2 Gold Fields Revenue Gold Duty 844,431 6 2 52,435 1 1 32,624 4 6 Transfers and recoveries, — Salaries, Auckland ... ... ... £201 4 5 „ Taranaki ... ... ... 20 16 8 Westland ... ... ... 33 6 8 929,490 11 9 Confiscated Lands 255 7 9 475 13 a 731 0 11 Confiscated Lands Liabilities Account, — Transfers, — From Defence Loan, to provide for Liabilities and Engagements From Defence Loan, for repayment to Public Works Account of temporary advances therefrom ... Balance at credit of the New Zealand Settlements Act Account, on the 30th June, 1875 ... 24,500 0 0 930,221 12 8 20,500 0 0 6,546 17 8 Eecovery for credit of Vote ,.. ... ... ... j 51,546 17 8 75 0 0 51,621 17 8 Native Lands Acts Account, — Fees and Duties Transfers from Public Works Account, under section 6 of " The Appropriations Act, 1875" ... Recoveries for credit of Votes ... 3,359 12 10 14,000 0 0 134 1 10 j i 17,403 14 8 Carried forward ... ... 999,337 5 0

8.—2.

47

£$ (1) — continued PUBLIC ACCOUNT for the Financial Teae, 1875-76. Ce. EXPENDITURE. Special Funds— continued. " Nobth Otago Distbict Public Woeks Loan Act, 1872," — Payments to Provincial Account Interest and Sinking Fund Total Expenditure £ s. d. £ s. d. 3,000 0 0 10,158 4 6 £ s. d. 13,158 4 6 Balance on 30th June, 1876, — Cash in the Public Account 201 14 7 £13,359 19 1 * "Westland Loan Act, 1873," Redemption Account,— Expenditure, nil. Balance on 30th June, 1876, — Casli in the Public Account In Special Funds Investment Account 25 0 0 269 5 0 £294 5 0 State Forests Account,— Salary of Conservator of State Forests ... 200 0 0 Balance on 30th June, 1876,— Cash in the Public Account 14,800 0 0 £15,000 0 0 Land Fund:— Commissioners of Crown Lands Receivers of Land Revenue Compensation to Hon. H. R. Russell Waste Lands Board Fees, Westland Unauthorized, — Services not provided for, — Salary of Deputy Commissioner, Nelson ... 4,355 0 0 1,059 6 1 616 13 4 85 1 0 Confiscated Lands, — Salaries Surveys Clerical assistance Claims and awards Contingencies 33 6 8 6,149 7 1 2,777 12 6 3,668 17 2 370 3 5 226 8 9 677 2 10 7,720 4 8 Payments to Provinces, — To Provincial Accounts To Miners' Rights, Deposit Accounts, &c. To Timaru and G-ladstone Board of Works 850,173 19 5 5,843 19 9 . 35,316 7 11 891,334 7 1 Transfers to Consolidated Fund, — For Interest, &c, on cost of Railways open for traffic, — Auckland ... ... ... £5,000 0 0 Hawke'sBay ... ... ... 103 5 7 Canterbury ... ... ... 7,337 14 2 Otago ... ... ... ... 2,101 8 10 14,542 8 7 Moiety of receipts from Laud Sales, &c., Auckland, from 1st July, 1875, to 30th June, 1876, in repayment of advances under " The Provincial Public Works Advances Act, 1874 " 11,213 0 2 Temporary advances to Auckland, repaid 386 2 5 26,141 11 2 Confiscated Lands Liabilities Account, — Salaries Surveys Roads and Bridges Claims and Awards ... ... « Contingencies 65 5 0 504 19 11 7,065 0 0 1,396 9 0 205 10 11 931,345 10 0 9,237 4 10 One-fourth of Laud Sales to 30th June, 1875,— Auckland, — Tranfscr to Consolidated Fund for Interest, &c, on cost of Railways open for traffic ... ... £391 2 6 In repayment of advances under "The Provincial Public Works Advances Act, 1874" ... ... ... 1,157 1 7 Taranaki, — Payment to Provincial Account 1,548 4 1 32 15 0 Repayment to Public Works Account of advances made therefrom ... 1,580 19 1 20,500 0 0 31,318 3 11 Carried forward 962,663 13 11

8.—2

48

Table DR. STATEMENT of the RECEIPTS and EXPENDITURE of the PUBLIC

RECEIPTS. £ 8. d. £ s. d. £ s. d. Brought forward i and Fund — continued. 999,337 5 0 i • Total Receipts 999,337 5 0 Balance on 30th June, 1875,— Cash in the Public Account Advances to be accounted for 4,125 8 4 .4 14 3 4,130 2 7 Total Land Fund £1,003,467 7 7 nst Fund :— Deposits received ... ... Investments, General Account, — Securities realized Credit to Vote, Government Insurance Account Interest on Investments, General Account 174,794 13 1 152,794 4 1 12 10 0 32,587 15 0 Total Receipts 360,189 2 2 Balance on 30th June, 1875,— Cash in the Public Account Advances to be accounted for ... 12,265 12 1 3,143 9 6 15,409 1 7 Total Trust Fund £375,598 3 9 Jills Payable :— Drafts on Crown Agents, London, outstanding on 30th June, 1875, transferred from Immigration and Public Works Loan Account hereto ... ... ... ... Drafts on Crown Agents, London 1,050,000 0 0 725,000 0 0 Total Bills Payable ... £1,775,000 0 0

49

8.—2

3—B. 2.

5 (1) — continued. 'TJBLIC ACCOUNT for the Financial Teas, 1875-7G. Ck. EXPENDITURE. 962,663 13 11 Brought forward Land Fund — continued. Native Lands Acts Account, — Native Lands Court ... ... ... £8,604 11 2 Less in excess of Appropriation ... 2,229 7 2 6,375 4 0 Survey Department ... ... ... £7,039 13 5 Less in excess of Appropriation ... 630 15 7 6,408 17 10 Refund of Duty, Fees, &e. Unauthorized, — In excess of Appropriations ... 12,784 1 10 41 4 8 2,860 2 9 Transfer to Consolidated Fund, — Fees and Duties received at Chatham Islands 68 5 11 15,753 15 2 Total Expenditure 978,417 9 1 Balance on 30th June, 1876, — Cash in the Public Account Advances to be accounted for 24,242 11 9 807 G 9 25,049 18 6 Total Land Fund £1,003,467 7 7 Trust Fund ■■— Deposits withdrawn Investments, — G-eneral Account Government Insurance Account 44,000 0 O 42,100 0 O 91,773 18 9 Interest Account, — Transferred to Post Office Savings Bank Account ... Interest overpaid on Debentures Interest accrued on Debentures purchased Balance transferred to Consolidated Fund 86,100 0 0 28,565 3 5 17 4 8 27 11 5 3,977 15 6 32,587 15 0 Total Expenditure 210,461 13 9 Balance on 30th June, 1876, — Cash in the Public Account Advances to be accounted for, — Colonial Foreign... 13,190 6 7 13,328 13 11 138,617 9 6 165,136 10 0 26,519 0 6 Total Trust Fund £375,598 3 9 Bills Payable:— Drafts on Crown Agents, London, retired Balance on 30th June, 1876, — Cash in the Public Account 1,600,000 0 0 1,600,000 0 0 175,000 0 0 Total Bills Payable £1,775,000 0 0

8.—2.

50

Table C. STATEMENT of RECEIPTS and EXPENDITURE of the LAND FUND for the Financial Year 1875-76.

Nativo Lands Acts Account. Confiscated Lands Liabilities to 30 June, 1875. Auckland. Tabanaki. Wellington.! IHawkh's Bay Nelson. Maelboeo'. Canteebuby. Westland. Otago. Total. EECEIPTS. £ e. d. £ s. d.i £ s. a. £ b. d. £ s. d. £ b. d. £ s. d. £ s. d. £ s. d. £ s. a. £ 8. d. £ s. d. Land Sales, &c. Gold Fields Revenue Gold Duty ... Transfers and recoveries Confiscated Lands — Land Sales, &c. Liabilities on 30th June, 1875 — Transfer from Defence Loan to provide for Liabilities and Engagements ... Transfer from Defence Loan for repayment to Public Works Account of temporary advances therefrom Balance at credit of New Zealand Settlements Act Account on 30th June, 1875 Recoveries for credit of Votes Native Lands Acts Account — Fees and Duties ... Transfers from Public Works Account... , ... Recoveries for credit of Votes ... ... ... ... 24,500 0 0 1,553 5 7 6,76G 13 6 6,439 12 4 201 4 5 20,872 14 9 10,305 12 8 2016 8 8,579 10 10 44,759 6 7 6,717 8 1 26,282 2 3 I 234 7 6 13,200 17 8 9,003 16 6 7,759 13 4 5,796 7 11 88 11 2 91 15 1 453,248 15 9 ... 4,186 12 8 4,512 4 0 6,164 0 11 33 6 8 248,694 3 11 32,063 15 11 12,169 2 10 808,027 5 0 52,435 1 1 32,624 4 6 255 7 9 36,404 1 2 24,500 0 0 20,500 0 0 20,500 0 0 6,546 17 8 75 0 0 7" 14 0 7 14 0 460" 5 2 6,546 17 8 550 13 2 3,359 12 10 14,000 0 0 134 1 10 3,359 12 10 14,000 0 0 134 1 10 ... ... ... ... ... ... ... Balances on 30th June, 1875 17,493 14 8 Dr. 15 17 2 51,621 17 8 35,833 10 7 17 10 0 18,913 14 2 1,757 17 11 51,484 8 8 20,976 14 11 29,964 7 6 79 3 1 5,976 14 2 66 19 7 453,248 15 9 14,896 4 3 42 7 6 292,927 2 8 2,182 1 9 999,337 5 0 4,130 2 7 ... ... ... Totals 17,477 17 6 51,621 17 8| 35,851 0 7| 20,671 12 1 51,484 8 8| 26,976 14 ll] 30,043 10 7| 6,043 13 9| 453,248_15_ 9 14,938 11 8J 295,109 4 5 1,003,467 7 7 EXPENDITURE. * * I I Commissioners of Crown Lands ... Receivers of Land Revenue Compensation to Hon. H. R. Russell Wasto Land Board Fees Confiscated Lands ... ... .., Payments to Provinces, &c, — To Provincial Accounts To Miners' Rights Deposit Account, &c. To Timaru and Gladstone Board of Works Transfers, — To Consolidated Fund — For Interest &c. on Railways opened for traffic In repayment of advances under Provincial Public Works Advances Act Temporary Advances repaid Native Lands Acts Account ... 500 0 0 300 0 0 600 0 01 100 0 0 200 0 0 59 6 1 616 13 4 433 6 8 150 0 0 ... 346 13 4 958 6 8 400 0 0 100 0 0 ... 85" 1 0 950 0 0 350 0 0 ... 4,388 0 8 1,059 0 1 616 13 4, 85 1 0 39,038 8 7 31,318' 3 11 3,798" 1 7 2,133 11 2 1,328" 6 9 460' 5 2 ... ... 7,414 5 0 5,779 11 3 18,102 5 0 49,007 15 2 25,406 2 10 29,365 18 0 64 8 6 5,656 14 2 409,205 3 4 14,743 10 0 291,212 5 11 850,173 19 5 5,843 19 9 35,316 7 11 ... 35,316' 7 11 ... 5,000 0 0 103 5 7 7,337 14 2 2,101 8 10 14,542 8 7 11,213 0 2 386 2 5 ... 11,213 0 2 383 2 5 15,753 15 2 15,753 15 2 ... ... ... ... ... ... ... ... ... Balances on 30 June, 1876 15,753 15 2 1,724 2 4 31,318 3 11 20,303 13 9 34,091 0 5 1,760 0 2 35,851 0 7 20,535 16 2 135 15 11 51,096 1 11 388 6 9 26,845 13 0 131 1 11 30,013 13 2 29 17 5 6,003 7 6 40 6 3 453,217 12 1 31 3 8 14,928 11 0 10 0 8 294,613 14 9 495 9 8 978,417 9 1 25,049 18 6 Totals 17,477 17 6 51,621 17 8 20,671 12 1 51,484 8 8 26,976 14 11 30,043 10 7 6,043 13 9 453,248 15 9 14,938 11 8 295,109 4 5 1,003,467 7 7

51

8.—2

Table C (1). STATEMENT of the RECEIPTS and EXPENDITURE of the PUBLIC TRUST FUND for the Financial Year 1875-76.

Balances on 30th June, 1875. Receipts. Expenditure. Balances on 30th June, 1876. £ s. d. £ a. d. £ s. d. £ s. d. Armed Constabulary Eeward Fund j Account ... ... ... | 1,303 4 8 Ill 4 5 ' 260 1 10 1,154 7 3 Bay of Plenty Districts Account 46 5 0 46 5 0 Foreigu Telegrams Account... 285 14 8 3,884 5 10 4,831 17 0 Dr. 661 16 6 General Assembly Library Fund Account 126 12 0 126 12 0 Government Insurance Account 112,570 15 3 73,568 7 0 23,487 1 2 162,652 1 1 Grey River Railway Repayment Account 41 3 3 97 4 6 141 7 9 Interest Account ... 32,587 15 0 32,587 15 0 Land Assurance Fund Account 8,055 3 7 3,014 14 1 35 10 8 11,034 7 0 Land Clauses Consolidation Act Account 50 0 0 50 0 0 Military Savings Bank Account 156 4 9 156 4 9 Militia Act Account 48 2 0 48 2 0 Merchant Shipping Act Account 34 3 3 34 3 3 Native Reserves Account 1,466 15 3 7,301 9 9 7,528 17 4 1,239 7 8 Native 10 per Cent. Auckland Land Purchase Account 2,186 10 8 810 8 1 1,376 2 7 Native 5 per Cent. Wairarapa Land Purchase Account 18 11 10 271 15 0 89 6 2 201 0 8 Natives at Wellington Deposit Account 370 0 0 370 0 0 Outlying Districts Sale of Spirits Act Account 33 9 6 17 6 6 50 16 0 Port Chalmers Railway Depreciation Account 873 7 0 873 7 0 Post Office Savings Bank Account 688,478 5 1 28,601 6 5 15,222 16 10 701,856 14 8 Railways Reward Fund Account 59 8 6 3 0 6 56 8 0 Supreme Court Account 1 10 10 1 10 10 Temporary Deposits Account ... 32,948 1 9 14,150 19 0 18,797 2 9 Trustees' Relief Act Account 655 6 10 110 3 1 545 3 9 Unclaimed Balances Account 1,245 13 7 24,805 7 4 24,753 19 1 1,297 1 10 Unclaimed Balances Closed Account ... 588 19 7 312 10 0 276 9 7 Unclaimed Dividends Account 359 15 8 359 15 8 Unclaimed Property Account 523 1 5 523 1 5 Totals £902,428 8 0 819,395 3 8 207,394 18 1 124,361 13 9 [nvestments—■ Government Insurance Account ... 147,400 0 0 General Account 589,891 18 0 Total Investments ... 737,291 18 0 Dash in Public Account 138,617 9 6 Advances to be accounted for — J Colonial 13,190 6 7 26,519 0 6 Foreign 13,328 13 11 Total 165,136 10 0 £902,428 8 0

8.—2

52

Table D. STATEMENT of the UNAUTHORIZED EXPENDITURE of the CONSOLIDATED FUND, from 1st JULY, 1875, to 30th JUNE, 1876

FOR SERVICES NOT PROVIDED FOR,— £ s. d. e s. d. £ s. d. Stamps,— Refunds of fines 8 12 0 Judicial, — Conveyance of prisoner 2 2 0 Postal, — Proportion of special allowance to Sir Julius Vogel, to cover expenses of mission to England Less charged to — Unauthorized expenditure, Public Works Account ... ... ... 1,000 0 0 Telegraph ... ... ... ... 250 0 0 Miscellaneous ... ... ... 125 0 0 1,500 0 0 1,375 0 0 Telegeaph,— Subsidy, New Zealand and Australian Cable, quarter ended 20th May, 1876 ... Proportion of expenses of mission to England, as above 125 0 0 1,250 0 0 250 0 0 1,500 0 0 Customs, — Drawbacks of Duty ... 57 19 10 Miscellaneous, — Balance of the intestate estate of James Yeats, returned to Public Trustee Balances of Imprest Accounts written off Legal expenses re improper issue of miners' rights Purchase of lease of land at Karori Survey of Confiscated Lands, Hawkc's Bay Proportion of expenses of mission to England, as above Part expenses survey of ship "Don Juan" 4 17 4 34 4 2 150 0 0 252 0 4 907 0 7 125 0 0 7 7 0 1,480 9 5 Recoyeeable,— State Forests Account, — Seeds, trees, and expenses in connection with the State Forests Department ... Peotincial Charges,— Wellington,— Advance in aid of Revenue Advance to Provincial Government to meet payment of interest to Trust and Loan Company Otago,— Interest on part purchase money of Stewart Island 3,000 0 0 504 11 8 3,174 3 3 988 6 7 3,988 6 7 256 0 0 4,748 18 3 Recovered,— Hawke's Bay,— Further expenses in connection with importation of English birds Expenses Napier Bluff Lighthouse ... Canteebuby,— Expenses Timaru Lighthouse ... ... ... Otago,— Proportion of expenses of valuation of Bluff-Winton Railway 13 1 8 22 12 0 35 13 8 276 6 11 108 9 8 420 10 3 Total £8,343 11 9 FOR SERVICES IN EXCESS OF APPROPRIATIONS,— Class I. —Public Depabtments,— Vote No. 3.—Executive „ 5.—Printing „ 8.—Electoral Class II.—Law and Justice, — Vote No. 11.—Department of Justice „ 13.—Supreme Court ... „ 14.—District Courts ... 16.—Petty Sessions ... „ 17.—Criminal Prosecutious, &c. „ 18.—Coroners „ 19.—Lunatics ,, 20. —Contingencies „ 22.—Deeds Registry ... 253 12 5 881 6 5 1,447 4 6 38 5 0 100 14 11 60 2 0 81 7 8 7 17 9 236 7 6 4 4 0 540 8 7 44 12 2 2,582 3 4 Class III.—Postal and Telegbaph,— Vote No. 24.—Telegraph 1,113 19 7 1,372 11 10 Railway Stores and Workshops Account 5,068 14 9 3,919 17 8 Total 8.98S 12 5 Total Unauthorized Expenditure ... £17,332 4 2

53

8.-2

Table E. STATEMENT showing the SUMS APPROPRIATED out of SPECIAL FUNDS for the Financial Year 1875-76; the RECOVERIES TO CREDIT; the ACTUAL EXPENDITURE made during the Year; and the AMOUNTS UNEXPENDED or EXPENDED IN EXCESS.

H O A.UTHOEIZED. Actual expenditube. Amount Unexpended. Expended in Excess. Estimates. Credits. Total. 57 "DEFENCE AND OTHER PURPOSES LOAN ACT, 1870." Contingent Defence and Liabilities Transfers to Confiscated Lands Liabilities Account (Land Fund) Roads, North Island £ g. d. 40,500 0 0 45,000 0 0 18,000 0 0 £ s. d. 6,619 12 2 £ 8. d. 47,119 12 2 45,000 0 0 18,006 18 0 40,293 7 1 45,000 0 0 ! 12,691 4 2 j £ a. d. 6,826 5 1 5,315 13 10 £ s. d. 6 18 0 Total Defence and Other Purposes Loan ... 103,500 0 0 6,626 10 2 110,126 10 2 97,984 11 3 l_ 12,141 18 11 PUBLIC WORKS ACCOUNT. Class I.—Immigration :— 72 78 Immigration Advances to Provinces for Immigration Services 337,432 10 0 107,616 5 8 34,373 16 0 115 8 9 371,806 6 0 107,731 14 5 331,395 7 3 51,792 3 7 40,410 18 9 55,939 10 10 96,350 9 7 Total Class I. 445,048 15 8 : 34,489 4 9 : 479,538 0 5 383,187 10 10 Class II. —Depabtmental —Public Woeks :— 71 75 70 Head Office Inspector of Stores' Department ... Agent-General's Department, London 15,530 0 0 737 10 0 1,375 0 0 539 6 10 i'6 15 7 16,069 6 10 737 10 0 1,385 15 7 14,512 14 10 737 10 0 751 10 0 1,556 12 0 634 5 7 Total Class II. 17,642 _10 Oj 550 2 5 | _ 18,192 12 5^ 16,001 11 10 2,190 17 7 Class III. — Railways :— 77 78 7!) 80 SI 83 81 85 8G 87 88 80 90 03 94 05 Kawakawa ... ... ... ... Kaipara-Auckland Auckland— Punia Napicr-Manavratu Wellington-llaslerton ... ... ... ,,. ... ... Waitara-Patea Patea-llanawatu ... ... ... ... ... ,,, Manawatu-Foxton ... ... Nelson-Foxhill Picton-Blenheim ... Brunncr-Greymoutli Westport-Mount Roclifort Kowai-Waitaki Canterbury Branches Waitaki Bridge Waitaki-Inyercargill Tokmairiro-Lawrence ... ... ... ... ... ... ■ Winton-Kingston Survey s of New Lines ... ... ... ... 25,000 0 0 60,000 0 0 200,000 0 0 100,183 16 9 220,000 0 0 42,000 0 0 253,500 0 0 53,431 11 4 34,160 8 2 50,541 13 7 32,302 9 11 80,000 0 0 269,772 3 2 59,200 3 11 18,494 11 2 600,000 0 0 83,000 0 0 156,000 0 0 4,811 12 6 940 15 0 12,934 14 11 16 13 6 1,909 1 9 520 0 0 201 5 9 359 4 2 0 7 0 13 10 0 189 18 7 37 12 3 9,621 9 2 2,782 3 7 9 16 0 4,833 1 2 7 3 0 21 6 1 25,000 0 0 60,940 15 0 212,934 14 11 100,200 10 3 221,909 1 9 42,520 0 0 253,701 5 9 53,790 15 6 34,160 15 2 50,555 3 7 32,492 8 6 80,037 12 3 279,393 12 4 61,982 7 6 18,501 7 2 604,833 1 2 83,007 3 0 156,021 6 1 4,811 12 6 7,608 17 6 13,847 15 10 175,565 1 3 91,297 17 5 143,677 9 9 27,531 1 5 156,611 1 7 46,548 7 9 26,469 13 0 45,542 10 10 25,476 13 3 53,232 18 11 268,097 16 3 42,071 8 2 17,724 11 7 338,363 19 1 73,442 10 9 76,219 1 8 5,202 0 2 17,391 2 6 47,093 1 2 37,369 13 8 8,902 12 10 78,231 12 0 14,989 18 7 97,090 4 2 7,241 7 9 7,691 2 2 5,012 12 0 7,015 15 3 26,804 13 4 11,295 16 1 19,910 19 4 779 15 7 266,469 2 1 9,564 12 3 79,802 4 5 390 7 8 Total Class III 2,342,398 10 6 34,398 1 11 2,376,796 12 5 1,634,530 14 2 742,656 5 11 390 7 8

54

8.—2

Table E— continued. STATEMENT showing the Sums Appropriated out of Special Funds, &c. — continued. go AUTHORIZED. Actual Amount Unexpended. Expended in Excess. Expenditube. Estimates. Credits. Total. 96 98 DO Class IV. —Eoabs :— North Island ... ... ... ... ... Nelson South- West Gold Fields ... Wcstland Ilokitika-Christchureh ... £ s. d. 23,659 0 9 14,802 14 10 13,073 18 1 10,739 G 7 £ s. d. 5,953 15 2 £ a. d. 29,612 15 11 14,802 14 10 13,073 18 1 10,739 6 7 £ s. d. 29,223 7 10 4,530 18 8 2,779 14 3 9,260 17 5 £ s. d. 389 8 1 10,271 16 2 10,294 3 10 1,478 9 2 £ s. d. Total Class IV. 62,275 0 3 5,953 15 2 68,228 15 5 45,794 18 2 22,433 17 3 Class V.—Land Purchases, Noeth Island :— 100 101 102 103 104 General expenses Auckland Taranaki Wellington Hawke's Bay ... 3,550 0 0 50,000 0 0 10,000 0 0 30,000 0 0 10,000 0 0 1,229 10 2 100 0 0 8 6 8 3,550 0 0 51,229 10 2 10,100 0 0 30,008 6 8 10,000 0 0 2,472 17 11 94,420 17 9 11,509 2 7 15,833 7 9 797 4 8 1,077 2 1 14,169 18 11 9,202 15 4 43,191 7 7 1,409 2 7 Total Class V. 103,550 0 0 1,337 16 10 104,887 16 10 125,038 10 8 24,449 16 4 44,600 10 2 Class VI.—Wateb-wobks on_Gold Fields :— I 105 106 Water Races ... Aiding Works on Thames GoldFields 157,130 0 0 35,000 0 0 188 15 10 157,318 15 10 35,000 0 O 74,185 9 1 24,908 0 0 83,133 6 9 10,092 0 0 Total Class VI. 192,130 0 0 I 188 15 10J 192,318 15 10 99,093 9 1 93,225 6 9 Class VII. —Coal Mines :— 107 Prospecting and developing coal mines 3,325 15 4 5 13 6 I 3,331 8 10 2,255 3 3 1,076 5 7 Total Class VII. 3,325 15 4 I 5 13 6 3,331 8 10 2,255 3 3 1,076 5 7 Class VIII. —Telegraph Extension :— 108 Telegraph extension 29,700 0 0 2,276 0 3 31,976 0 3 37,297 11 10 5,321 11 7 Total Class VIII. 29/TOO^ _0_ _0 2,276 0 3 31,976 0 3 I 37,297 11 10 5,321 11 7 Class IX. —Public Buildings :— 109 110 111 112 113 Judicial Postal and Telegraph Customs Offices for Public Departments Miscellaneous ... 21,160 0 0 39,291 0 0 2,480 0 0 43,670 0 0 6,055 0 0 56 0 0 208 2 0 1,241 0 0 21,216 0 0 39,291 O O 2,480 0 0 43,878 2 0 7,296 0 0 2,862 10 0 20,065 2 7 449 12 3 38,514 9 9 5,639 17 7 18,353 10 0 18,625 17 5 2,030 7 9 5,363 12 3 1,656 2 5 Total Class IX. 112,656 0 0 1,505 2 0 114,161 2 0 68,131 12 2 46,029 9 10 Class X. —Lighthouses :— 15 10 0 82,015 10 0 114 Lighthouses 82,000 0 0 22,879 13 8 59,135 16 4 Total Class X. 82,000 0 0 I 15 10 0 | i 82,015 10 0 I 22,879 13 8 59,135 16_ 4 I Class XL—Chabges and Expenses of Raising Loans: — 115 Discount, commission, and other charges 196,935 18 II 196,935 18 11 136,981 16 0 59,954 2 11 Total Class XI. 190,935 18 11 196,935 18 11 136.9S1 16 0 59,954 2 11

8.—2

55

Table F. STATEMENT of ACCOUNTS with the several PROVINCES, under "The Payments to Provinces Act, 1872," for the Financial Year 1875-76.

Debits. Credits. Payments to Credit Payable PEOVINCE3 Balances. Provinces. to .Interest and Sinking Fund. Services charged Provineially. Total. Capitation Money. Special Allowances. Total. Provinces. AND on Teanspers. 30th June, 1876. £ s. d. 43,856 0 6 1,965 6 9 13,883 12 6 6,678 19 2 7,438 19 8 478 0 0 41,776 9 9 12,766 11 1 69,065 18 5 £ s. d. 23 12 0 £ s. d. 43,879 12 6 1,965 6 9 13,883 12 6 6,678 19 2 7,438 19 8 478 0 0 41,776 9 9 12,766 11 1 69,065 18 5 £ s. d. 56,755 10 0 5,118 0 0 28,092 0 0 9,264 15 0 18,306 0 0 5,249 5 0 50,319 15 0 11,701 10 0 77,568 0 0 £ s. d. 4,000 0 0 250 0 0 750 0 0 1,500 0 0 £ s. d. 60,755 10 0 5,368 0 0 28,842 0 0 10,764 15 0 18,306 0 0 5,249 5 0 56,319 15 0 13,651 15 0 77,568 0 0 £ s. d. 16,875 17 6 3,402 13 3 14,958 7 6 4,085 15 10 10,867 0 4 4,771 5 0 14,543 5 3 885 3 11 8,502 1 7 £ s. d. 16,875 17 6 3,121 0 0 13,735 7 6 4,085 15 10 9,966 14 0 4,378 10 1 13,428 6 10 831 16 7 8,502 1 7 £ b. d. Auckland Taranaki Wellington ... Hawke's Bat ... Nelson Marlborough ... Canterbury ... Westland Otago ... * 278 13 3 1,223 0 0 900 6 4 392 14 11 1,114 18 5 53 7 4 1,950 5 0 Totals 197,909 17 10 23 12 0 197,933 9 10 268,374 15 0 8,450 5 0 276,825 0 0 78,891 10 2 74,928 9 11 3,963 0 3

8.—2.

56

Table G. GENERAL BALANCE SHEET and SUMMARY of TRANSACTIONS of the PUBLIC ACCOUNT for the FINANCIAL YEAR 1875-76.

Transactions. De. Balances on 30th June, 1876. Cb. Balances on 30th June, 1875. Cb. Balances on 30th June, 1876. Dr. Cr. Receipts and Transfers. Cash □t the Public Account. Special Funds Impbests unaccounted foe. Disbursements and Transfers. Totals. Colonial. Foreign. Consolidated Fund ... ■.. ... £ s. d. £ s. d. £ s. d. £ s. d. £ 8. d. £ s. d. £ s. d. £ s. d. £ s. d. 80,073 14 11 2,585,144 8 2 2,626,305 6 5 121,234 13 2 69,678 13 3 19,820 7 6 31,735 12 5 121,234 13 2 Special Funds, — 6,546 17 8 6,546 17 8 . New Zealand Settlements Acts, 1865-66 ... ... Consolidated Loan Act, 1867 10,653 0 0 30,938 19 9 34,232 10 0 13,946 10 3 Cr. 12,404 12 9a 2,101 3 0 24,250 0 0 13,946 10 3 Defence and Other Purposes Loan Act, 1870 35,440 4 10 237,985 5 2 76,626 10 2 ZM25.918 10 2 0126,699 4 3i 780 14 1 0125,918 10 2 Public Works Account ... 2,254,151 0 0 4,702,193 11 0 2,584,647 16 9 136,605 5 9 0180,370 1 2c 18,743 1 9 298,232 5 2 136,605 5 9 Bail ways open for traffic ... 7,610 10 1 7,610 10 1 Wellington Reclaimed Land Act, 1871 81 10 11 1,550 0 0 10,074 11 0 8,606 1 11 7,487 5 6 1,118 16 5 8,606 1 11 Wellington Debts Act, 1872, Redemption Account 67 2 1 16,652 7 1 16,719 9 2 962 16 3 15,756 12 11 16,719 9 2 North Otago District Public Works Loan Act, 1872 ... 160 0 0 13,158 4 6 13,199 19 1 201 14 7 201 14 7 ... 201 14 7 Westland Loan Act, 1878, Redemption Account 269 5 0 25 0 0 294 5 0 25 0 0 269 5 0 ... 294 5 0 State Forests Account 200 0 0 15,000 0 0 14,800 0 0 14,800 0 0 14,800 0 0 Land Fund 4,130 2 7 978,417 9 1 999,337 5 0 25,049 18 6 24,242 11 9 807 6 9 25,049 18 6 Tbust Fund 15,409 1 7 210,461 13 9 360,189 2 2 165,136 30 0 138,617 9 6 13,190 6 7 13,328 13 11 165,136 10 0 Bills Payable ... 1,600,000 0 0 1,775,000 0 0 175,000 0 0 175,000 0 0 175,000 0 0 Receipts in Suspense 501 7 4 68,382 3 3 58,696 1 10 818 5 11 818 5 11 818 5 11 ! I Totals 17,144 14 4 55,442 19 8 367,546 11 6 552,494 4 1 2,415,096 17 0 10,432,589 2 5 8,560,986 9 6 552,494 4 1 112,359 18 7 (a. u Covered Covered Covered iy proceeds of debentures Bold to Trustees of Sinking Funds in London not yet brought to account. >y proceeds of debentures not yet brought to account. y advances on seeurity of guaranteed debentures not yet brought to account.

8.—2

Table H. STATEMENT of the RECEIPTS of the CONSOLIDATED FUND for the Financial Year -76.

PROVINCE IN WHICH COLLECTED. CONSOLIDATED FUND. TOTAL. Auckland. Tabanaki. Wellington. Hawke's Bat Nelson. Mablbobo'. Canterbury. Westland. Otaoo. r £ e. d. .£ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ .. d t>s Customs: — Duties Rents, Seizures, &c. Bonded Warehouse Duties Fees :— " Merchant Shipping Act, 1858 " " Arms Act, I860 " " Marine Act, 1866 " " Steam Navigation Act, 1866 " " Oyster Fisheries Act, 1866 " " Trade Marks Act, 1866 "... " Distillation Act, 1868" ... " Merchant Ships Officers Examination Act, 1870'' ... ' "Drawbacks Act, 1872" ... 15 0 240,201 6 4 52 6 10 1,219 19 2 550 13 3 757 5 0 1,948 4 8 253 3 0 8,296 19 10 16 11 0 64 11 9 1 14 9 68 7 0 85 3 9 7 6 0 189,569 17 0 70 14 6 764 10 6 135 18 0 295 14 0 2,186 15 8 192 2 0 41,012 18 2 250' 0 0 30 7 6 116 11 0 131 15 9 33 10 0 74,576 14 3 410 1 4 29 1 0 170 9 0 953 12 8 45 2 0 3 7 6 8,689 11 6 6 4 10 50 0 0 78 16 0 219 16 0 3 3 0 0 2 6 204,430 12 7 220 1 4 822 18 4 217 8 3 323 7 0 2,485 13 2 31 10 0 2 0 0 46,092 2 3 300 0 0 16 16 10 108 3 0 95 G 7 21 0 0 412,521 14 6 7 5 6 1,461 2 8 316 11 3 406 16 0 3,333 0 10 132 12 0 7 7 6 1,225,393 1 5 373 4 0 5,343 3 9 1,328 10 10 2,325 8 0 11,439 9 1 719 8 0 12 17 6 70 7 0 582 0 0 80" 0 0 9 0 0 70 7 0 65 0 0 26 0 0 ... 53 0 0 20 0 0 129" 0 0 53" 0 0 147' 0 0 38 10 0 16 8 9 27 15 0 0 13 6 10 0 4 0 0 0 3 0 23 15 0 0 16 6 95 0 0 18 1 9 Stamp Duties Postal Telegraphic Judicial Feca and Fines :— Supreme and District Courts Sheriffs' Offices Resident Magistrates' Courts Petty Sessions Courts ... Fees :— Registration of Land ... „ Deeds ... „ Births, Marriages, &c. ,, Medical Practitioners ,, Joint Stock Companies Issue of Crown Grants " Licensing Act Amendment Act" " Aliens Act, 1860" ... " Patents Act, 1860-1870 " " Lost Land Orders Act, 1861" " Land Claims Settlements Act, 1856" ... " Inspection of Machinery Act, 1874 " " Inspection of Cattle Act 1871 Amendment Act, 1873 "... " Licensing Ordinance Amendment Act, 1866" ... " Lost Licenses and Leases Act, 1865 " ... " Native Circuit Courts Act, 1858 " 14 11 1 15 6 8 11 3 0 4 2 6 18,750 17 1 13,423 2 0 11,455 9 4 1,567 3 5 120 0 10 4,489 16 4 79 15 8 926 6 6 4,129 8 6 8G7 10 0 4 5 0 103 14 (i 1,078 3 2 114 13 C 1,113 18 5 1,274 16 11 1,203 15. 0 182 10 10 467' 6 2 232 11 8 613 12 6 94 19 0 15 0 6 5 0 353 13 1 10 18 4 18,495 9 2 11,517 17 3 10,527 16 2 1,197 5 9 57 8 0 3,550 17 2 1,320 0 0 2,607 18 6 712 19 0 6 10 0 15 3 0 468 14 5 48 17 0 100 0 0 5,305 13 3 3,932 4 6 3,198 18 8 285 1 10 11 3 0 865 9 4 73 1 6 497 17 8 1,024 19 0 223 16 0 6 5 0 20i" 4 3 18 6 0 4,624 18 5 3,242 10 8 4,767 4 2 528 17 0 20 13 6 2,125 18 7 465 12 9 425 12 0 247 14 6 10 0 26 0 0 451 17 7 71 13 6 769 7 8 1,373 8 9 1,247 15 11 139 6 5 10 12 fi G26 18 5 14 5 2 22(5 17 0 320 11 0 106 15 0 26,163 1 3 17,240 5 0 10,216 1 1 1,726 19 7 102 4 6 6,697 11 6 116 7 2 4,301 9 4 2,909 0 6 884 7 6 7 10 0 108 0 0 513 6 0 68 8 0 2,627 1 4 3.390 14 11 3.391 6 4 369 17 3 0 15 0 1,622 11 9 310 5 0 128 17 0 151 10 6 36 3 6 116 16 6 59 4 6 36,664 11 5 25,245 13 4 17,932 3 7 2,552 7 10 123 5 <J 7,601 19 6 1,381 14 3 4,197 16 4 3,512 8 0 1,372 8 0 12 10 0 150 6 0 1,187 7 0 244 3 0 8,549 9 11 446 3 1 28,002 11 9 1.668 3 9 12,478 16 3 15,732 7 0 4.669 2 0 39 5 0 445 11 6 4,447 16 7 658 16 10 100 0 0 280 15 0 2 0 0 9 13 6 1,816 0 0 1,247,700 11 4 114,429 9 1 80,656 0 9 63,970 10 3 38,726 8 6 6 5 0 73 15 7 22 8 0 280 15 0 2 0 0 ... ... 452 0 0 9 13 6 445 0 0 ... ... 408" 0 0 511' 0 0 18 5 0 4 12 6 22 17 6 10 0 0 15" 0 0 10 0 0 15 0 0 5 10 5" 1 0 Fines: — " Coroners Act" 10 0 3 0 0 4 5 0 2 10 0 10 15 0 Railways Incidental Receipts 63,939 6 2 51,677 10 10 115,954 5 3 40,743 17 2 63,939 6 2 51,677 10 10 ... ... ... ... ... ... ... Totals ... 302,704 9 1 57,248 2 5 58,898 14 3 520,986 5 9 1,701,813 14 1 14,137 6 0 244,463 16 1 93,246 12 11 13,999 15 3 280,204 7 1

8.—2

58

Table H (1). COMPARISON between the PROBABLE REVENUE as estimated in the Financial Statement, page 9, and the ACTUAL REVENUE, for the Year 1875-76.

* £12,500 has yet to be received on this item. Note.—The foregoing statement shows the revenue of the year 1875-76 as estimated in the Financial Statement, and the revenue actually received to the 30th June. As the accounts now stand, the actual receipts are £1,346 9s. lOd. short of the estimate, but the sum of £12,500 yet to be received (on the postage accounts with the Imperial Government) will create an excess of £11,153 10s. 2d. over the receipts anticipated.

Teak II 175-76. Heads of Receipt. Revenue to 27th May, with Estimate Actual added for June Revenue. Month. Customs Duties, Rents, Seizures, &c. £ s. d. 1,225,747 16 10 £ s. d. 1,225,766 5 5 Bonded Stores 5,250 10 5,343 3 9 Fees 16,417 0 1 16,591 2 2 Stamp Duties 112,388 15 11 114,429 9 1 Postal 93,162 14 3 •80,656 0 9 Telegraphic 63,038 6 7 63,970 10 3 Judicial Fees and Fines 37,993 2 11 38,726 8 6 Registration of land 12,184 4 3 12,478 16 3 „ Deeds 15,453 3 4 15,732 7 0 „ Births, Deaths, and Marriages ... 5,231 7 4 4,669 2 0 Fees on issue of Crown Grants 4,410 1 2 4,447 16 7 „ Miscellaneous 2,397 1 1 3,415 15 4 Incidental Receipts 52,056 8 2 51,677 10 10 Railways 1,645,730 12 7 1,637,904 7 11 57,459 11 4 63,939 6 2 1,703,190 3 11 1,701,843 14 1

59

8.—2.

Table H (2). STATEMENT showing the REVENUE from STAMP DUTIES during the Financial Year 1875-76.

Under Schedule I. Adhesive. Impressed. Adhesive. Under Schedules II., III., and IV., " Stamp Act, 1866,' 1 and Schedule II., "Stamp Act, 1875." Bank Composition. Fees, Fines, and Penalties. Licenses to Companies. Commission Refunded. Miscellaneous. Total. Retained in Consolidated Fund. Traksfebbhd TO Public Wobks Account. £ e. d. £ s. d. £ s. d. £ a. d. £ s. d. £ s. d. » s. d. £ b. d. £ 8. d. £ s. d. £ b. d. GENERAL, — 0 14 0 13 17 1 14 11 1 14 11 1 Chatham Islands Provincial, — 5,420 10 7 3,163 9 5 1,707 2 3 259 6 9 713 13 4 9 16 18,750 17 1 9,375 8 6 9,375 8 ? Auckland 7,477 13 3 Taranaki 414 6 11 595 2 7 65 9 8 38 16 0 0 3 3 1,113 18 5 556 19 5 556 19 0 Wellington ... 5,827 7 3 7,064 12 5 821 0 11 2,215 1 6 134 2 1 2,433 2 0 0 3 0 18,495 9 2 9,247 14 7 9,247 14 7 Hawke's Bay 1,238 11 9 2,538 16 3 201 9 0 1,174 17 6 136 17 3 15 0 0 0 16 5,305 13 3 2,652 16 11 2,652 16 4 Nelson 1.212 1 9 1,619 13 7 240 3 5 1,513 10 2 29 9 6 10 0 0 4,624 18 5 2,312 9 0 2,312 9 5 Marlborough 313 17 0 388 6 8 52 0 0 15 4 0 769 7 8 384 13 10 384 13 10 Canterbury ... 7,139 13 3 10,814 1 11 1,586 5 5 5,763 3 8 191 3 4 668 13 8 26,163 1 3 13,081 10 9 13,081 10 6 Westland ... 1,295 19 0 1,228 7 8 71 9 9 26 4 11 5 0 0 2,627 1 4 1,313 10 7 1,313 10 9 Otago,— 10,383 14 10 2,011 5 6 5,036 8 9 1,966 10 0 11 1 1 33,452 9 2 I 18,282 5 5 Dunedin ... 13,915 0 9 128 8 3 18,282 6 0 Invercargill 725 3 0 2,024 10 8 327 9 10 34 18 9 3,112 2 3 33,971 19 4 47,680 2 10 8,540 2 11 17,410 3 10 994 10 10 5,811 19 0 9 6 3 11 4 1 114,429 9 1 57,222 0 1 57,207 9 0 I

8.—2

60

Table H (3). COMPAEATIVE RETURN of the DUTIES OF CUSTOMS Collected at the several Ports of New Zealand for the Financial Years 1874-75 and 1875-76.

Table H (4). RETURN of the GROSS DUTIES OF CUSTOMS for each Quarter, from September Quarter, 1864, to the Quarter ended 30th June, 1876, inclusive.

Poets. Financial Yeae 1874-75. Financial Yeak 1875-76. Incbease. Decbease. Auckland Thames Russell ... ... . Mongonui Hokianga Tauranga Poverty Bay ... New Plymouth Wanganui Wellington ... Napier Wairau Picton Havelock Kaikoura Nelson Westport Greyniouth ... Hokitika Okarito Lyttelton and Christchurck Akaroa Timaru Oamaru Dunedin Invercargill and Bluff ... Riverton Chathams £ s. d. 234,322 14 1 10,498 9 11 969 6 4 557 18 1 1,579 5 2 451 11 5 6,491 6 6 8,078 13 6 26,354 8 1 137,507 5 9 43,139 8 8 5,696 8 6 1,501 16 5 791 15 9 888 12 10 42,159 3 10 18,421 13 10 41,238 12 7 31,942 16 8 282 13 2 169,374 6 3 158 19 3 23,685 ]8 0 9,807 11 10 362,622 10 4 35,847 7 4 5,902 19 6 2 10 10 £ s. d. 217,423 14 1 9.662 5 0 1,478 9 5 489 7 8 1,606 16 1 1,398 11 7 8,009 14 9 8,296 19 10 27,264 1 8 162,305 15 4 41,012 18 2 5.663 19 11 1,133 15 10 914 0 0 1,031 11 9 40,633 7 8 15,262 18 8 37,358 12 1 27,411 14 11 Closed. 179,962 2 0 87 5 3 24,381 5 4 11,509 2 4 360,310 1 11 34,765 17 2 5,936 17 1 15 0 £ s. d. 509 3 1 27 10 11 947 0 2 1,518 8 3 218 6 4 909 13 7 24,798 9 7 122 4 3 142 18 11 £ s. a. 16,899 0 0 836 4 11 68 10 5 2,126 5 6 32 8 7 368 0 7 1,525 16 2 3,158 15 2 3,880 0 6 7,531 1 9 282 13 2 10,587 15 9 695 7 4 1,701 10 6 71 14 0 2,312 8 5 1,081 10 2 33 17 7 "i 5 io Totals 1.223,275 19 5 1,225,312 10 6 42,212 6 3 40,175 15 2 Increase, £2,036 lls. Id.

Financial Year 1864-65. Financial Yeae 1870-71. September Quarter £140,872") December „ 150,995 f «,,,„, March „ 167,690 C *648«887 June „ ' 183,740 J September Quarter £190,499") December ,, ]S7 750/ Mardi ;, ;;; ;;; mm[ £T33 >300 J«"e „ 183^570) Financial Year 1865-66. Financial Ybae 1871-72. September Quarter £180,160"\ December „ 198,418 f -»„»«, Marcli „ 208,794 ( Jo .—' June „ 208,855* September Quarter £183,722 December „ 193^079 March „ 196,283 Juno „ 202,909 £775,993 Financial Yeae 1866-67. Financial Yeab 1872-73. September Quarter £199,452") December „ 227,253 ( „„„ March „ 220,183 ( ±86 *.668 June „ 217,780) September Quarter £203,277 December „ 210,807 March „ 210,466 J'ine „ 231,262 £855,812 Financial Ybae 1867-68. Financial Yeae 1873-74. September Quarter £196,916 December „ ... ... 209,118 March „ 194,618 June „ 192,742 £798,894 September Quarter £243,325") December „ 280*748 ( Net. Marcu ,. 297,810 C £1,108,677 June „ 286,794.) Financial Yeab 1868-69. Financial Yeae 1874-75. September Quarter £191,fiO7 December „ 209,862 March „ 189,590 June „ 213,145 £804,201 September Quarter £311,631 December „ 292,758 March „ 320,523 Jnne „ 298,364 ' Net. £1,223,276 Financial Yeae 1869-70. Financial Yeae 1875-76. September Quarter £205,100"\ December „ ... 215 677 / March „ 199;664( £808,422 June „ 187,981.) September Quarter £312,472 December „ 303,608 March „ 317,744 June „ 291,489 Net. £1,225,313

61

8.—2

Table H (5). RETURN of the VALUE of IMPORTS and EXPORTS at each Port of New Zealand for the Financial Year ending 30th June, 1876.

Value op Imposts. Value op Expobts. larters eni led ;ers em led Pobts. Sept. 30. Dec. 31. Mar. 31. June 30. Totals. Sept. 30. Dec. 31. Mar. 31. June 30. Totals. £ £ £ £ £ £ £ £ £ £ Auckland .., 482,207 295,821 428,217 198,816 1,405,061 175,563 178,854 243,672 113,620 711,709 Thames 4,341 4,704 5,004 2,784 16,833 333 280 2,427 640 3,680 Russell 29 20 343 410 802 1,303 197 1,450 2,950 Mongonui 1 1 148 99 247 Hokianga 3,760 1,250 2,900 1,040 8,950 Kaipara 4,072 1,208 2,187 7,467 Tauranga 9 68 118 97 292 Poverty Bay ... 3,491 1,737 4,299 1,317 10,844 8 14 22 New Plymouth 6,508 4,861 6,292 5,100 22,761 106 428 534 Wanganui 24,174 16,804 16,313 14,842 72,133 5 5 Wellington 343,940 296,240 294,474 242,739 1,177,393 123,990 79,473 430,355 130,734 764,552 Napier 46,342 31,791 44,616 39,847 162,596 3,824 108,725 61,705' 51,878 226,132 Wairau 1,989 1,783 1,670 825 6,267 Picton 334 583 939 513 2,369 1,870 1,870 Haveloek 160 369 248 777 Kaikoura 45 122 254 176 597 Nelson 70,462 46,930 97,402 44,824 259,618 3,717 3,928 9,820j 1,256 18,721 Westport 10,212 19,329 9,143 17,921 56,605 24,459 23,701 760 450 49,370 Greymouth 32,141 37,036 21,926 44,986 136,089 96,545 93,338 31,475; 31,317 252,675 Hokitika 26,897 23,401 25,129 23,878 99,305 44,708 49,778 11,488 20,390 126,364 Lyttelton 355,263 302,215 290,201 279,331 1,227,010 137,892 164,996 707,787 441,601 1,452,276 Akaroa 548 325 873 Timaru 22,531 35,576 32,126 13,760 103,993 4,078 7,687 2,913 10,327 25,005 Oamaru 10,3*21 19,132 16,221 9,821 55,495 1,685 6,224 7,583 14,044 29,536 Dunedin 553,618 678,133 699,430 422,577 2,353,758 ] 37,447 302,972 805,358 359,145 1,604,922 Invereargill and Harbour ... Bluff 43,940 64,330 83,111 45,640 237,021 8,020 12,410 276,120 66,036 362,586 Biverton 2,283 2,492 1,669 2,174 8,618 Chatham Islands Totals ... 1,246,642 2,041,237 1,883,656 2,079,267 1,412,951 7,417,111 767,891 1,039,105 2,595,935 5,649,573 Tear 1874-75 2,280,543 1,859,899 2,494,363 1,738,306 8,373,111 668,788 773,181 2,638,482 1,353,149 5,433,600

8.—2.

Table H (6). RETURN of the VALUE of IMPORTS and EXPORTS for each Province for the Financial Year ended 30th June, 1876.

Table H (7.) RETURN of the QUANTITY of FLOUR and GRAIN Imported into and Exported from New Zealand for the Year ended 31st December, 1875.

62

Vamje Value PB0TIHCB8. op Imports. of EXPOETS. Auckland £ 1,433,833 £ 735,025 Taranaki 22,761 534 Wellington 1,249,526 764,557 Hawke's B»y ... 162,506 226,132 Marlborough ... 10,010 1,870 Kelson 316,223 68,091 Westknd 235,394 379,039 Canterbury 1,331,876 1,477,281 Otago 2,654,892 1,997,044 Total 7,417,111 5,649,573

Impokts. Exports. Flour... ... tons ... • 3,820 648£ Grain — Barley ... bushels 1,804 91,622 Maize ... ,, 89,47G 4,275 Oats ... „ 68S 630,325 Wheat ... ,, 109,316 546,095 Other kinds ... ,, 865 160

8.—2.

63

Table H (8). RETURN of the QUANTITY and VALUE of GOLD EXPORTED from the various Provinces of New Zealand during the Four Quarters of the Financial Year 1875-76, as compared with the corresponding Quarters of the previous Year.

Fora Quabtees ended 30th June, 1876. FOUB QUAETEES ENDED 30TH JUNE, 1875. Total Expoeted fob the foub quabtebs ended 30th June, 1876. Total Expobted FOB THE foue quabtebs ended 30th June, 1875. Pboduce of Exporting Pobts. Quarters ended Quarters ended THE PbOYINCB OP 30th Sept. 31st Deo. 31st March. 1 30th June. 30th Sept. 31st Dec. 31st March. 30th June. Quantities. Declared Value. Quantities. Declared Value. ■ „ Oz. Oz. Oz. Oz. Oz. Oz. Oz. Oz. Oz. £ Oz. ' £ Auckland Auckland 26,559 13,333 13,809 12,017 19,414 20,335 18,627 10,966 65,718 247,349 | 69,342 271,422 Picton Marlborough 468 450 533 233 691 918 3,666 1,457 5,826 Wellington... Wellington 125 125 460 Nelson Nelson 622 167 2,161 1,562 1,709 2,094 133 3,655 4,512 17,107 7,591 29,733 Auckland ... Nelson 4,351 4,351 17,403 Westport ... Nelson 6,115 5,574 5,121 4,445 8,511 7,397 6,323 . 5,436 21,255 85,111 27,667 110,813 Grey mouth ,, 17,825 16,312 9,870 8,825 10,215 12,320 18,672 12,303 51,832 207,997 63,610 214,061 ,» ••• Westland 5,868 6,345 4,754 4,857 6,546 6,973 6,722 5,545 21,824 87,306 24,786 99,135 Hokitika ... i} 10,412 11,943 9,040 8,421 13,188 9,343 13,057 10,726 39,816 159,263 46,314 185,259 Dunedin ... Otago 30,655 23,684 36,158 23,130 25,539 30,324 31,500 29,603 113,627 454,520 116,966 470,678 Invercargill ■ 1,040 2,261 2,363 2,400 1,003 1,395 1,956 724 8,064 32,448 5,078 20,551 Riverton ■ 66 66 230 Totals ... 99,064 86,783 97,681 78,958 1,312,170 352,902 1,408,058 79,619 83,276 69,958 89,480 331,917

64

8.—2

Table H (9). RETURN showing the AMOUNT and VALUE of GOLD EXPORTED during the Financial Year 1875-76.

Table H (10). RETURN showing the QUANTITY and VALUE of WOOL EXPORTED from New Zealand during the Year 1875.

1871 1-76. Pbovinces. Oz. Value. 65,718 £ • Auckland 247,349 Maryborough 918 3,666 Nelson 81,950 327,618 Westland 61,640 246,569 Otago... 121,691 486,968 Totals 331,917 1,312,170 Totai Amount of G-old Exported since 1858... 8,108,529 C Ounces. Totai Vaiue op (Sold Expobted since 1858 ... ... £31,593,579.

IS 1 ■5. Provinces. Quantity. YAI.UE. Auckland lbs. 1,543,925 94,290 Taranaki 25,944 1,644 Wellington 7,736,315 465,652 Hawke's Bay ... 6,166,721 350,486 Marlborough ... 769,149 37,389 Nelson ... 122,519 7,026 Canterbury 15,056,697 1,004,404 Westland 118,994 5,793 Otago 22,861,276 1,431,471 Totals 54,401,540 3,398,155

8.—2.

Table H (11). RETURN showing the VALUE of NEW ZEALAND PHORMIUM EXPORTED during the YEAR 1875.

Table I. STATEMENT of CAPITATION and SPECIAL ALLOWANCES to the several PROVINCES for the three months ended 30th September, 1876.

65

Pbovinces. 1875. £ Auckland 5,178 Taranalri... 136 Wellington 1,676 Hawke's Bay Marlborough 169 Nelson 735 Canterbury 2,545 Otago ... 1,303 Total £11,742

Peotincbs. Population. Capitation Bate. Capitation Allowance foe Theeh Months. Special Allowance fob These Months. Total. £ b. d. £ s. d. £ s. d. Auckland ... 80,779 15b. f- an. 15,146 1 3 1,000 0 0 16,146 1 3 Taranaki ... 7,937 JJ 1,488 3 9 62 10 0 1,550 13 9 ■Wellington ... 41,220 J) 7,728 15 0 187 10 0 7,916 5 0 Hawke's Bay 13,379 I) 2,508 11 3 375 0 0 2,883 11 3 Nelson 24,907 JJ 4,670 1 3 4,670 1 3 Marlborough 7,316 »> 1,371 15 0 1,371 15 0 Canterbury... 81,891 » 15,354 11 3 15,354 11 3 Westland ... 16,165 » 3,030 18 9 505 3 0 3,536 1 9 Otago 111,875 >J 20,976 11 3 20,976 11 3 Totals 385,469 72,275 8 9 2,130 3 0 74,405 11 9

8.—2.

66

Table K. RETURN of the TOTAL VALUE of IMPORTS and EXPORTS of VICTORIA, NEW SOUTH WALES, and NEW ZEALAND, for the Nine Years ending 31st December, 1874, with the Rate per head of Population.

VICTORIA. NEW SOUTH WALES. NEW ZEALAND. Yeaes. Population. Imfobts. Exports. Population. Imposts. Value. Rate. Exp Value. Expoets. POET ts. Rate. POPULA- _ TION. Ill Value. Imposts. Value. Expoets. Rate. Value. Rate. Value. Kate. Rate. 1806 1867 1868 1869 1870 1871 1872 1873 1874 643,912 659,887 684,316 710,878 724,725 752,445 770,727 790,492 808,437 £ 11,315,638 8,921,986 9,424,565 9,984,452 9,089,067 8,935,797 11,220,668 13,108,109 12,865,391 £ s. d. 17 11 5 13 7 4 13 15 6 14 0 10 12 10 9 11 17 6 14 11 2 16 11 7 15 18 3 £ 9,433,473 9.972,333 11,697,893 9,539,816 9,103,323 11,151,622 10,758,658 11,976,707 11,352,515 £ s. d. 14 13 0 15 2 3 17 2 0 13 8 4 12 1 1 14 16 5 13 19 2 15 3 0 14 0 10 431,412 4 i 7,020 4(J6,765 485,356 502,861 519,182 539,190 560,275 584,278 £ 6,412,442 4,553,594 5,736,817 6,334,888 6,069,820 7,577,014 6,183,441 8,018,399 8,664,489 £ s. d. 14 17 3 10 3 5 12 5 9 13 1 0 12 1 5 14 12 0 11 9 4 14 6 2 14 16 7 £ 6,057,585 4,834,505 4,878,344 7,875,577 6,302,577 8,048,426 5,601,982 6,870,433 6,784,941 £ s. d. 14 0 9 10 16 0 10 9 0 16 4 6 12 10 8 15 10 0 10 7 9 12 5 3 11 12 3 208,682 218,668 226,618 237,249 248,400 266,986 279,560 295,946 341,860 £ 5,657,601 5,179,393 4,825,312 4,841,400 4,360,941 3,967,098 5,059,472 6,332,295 8,022,686 £ s. d. 27 2 3 23 13 8 21 5 10 20 8 1 17 11 1 14 17 2 18 1 11 21 7 11 23 9 4 £ 4,396,100 4,479,464 4,268,762 4,090,134 4,544,682 5,171,054 5,107,186 5,477,979 5,152,143 £ s. d. 21 1 4 20 9 8 18 16 9 17 4 9 18 5 11 19 7 4 18 5 4 18 10 2 15 1 5 NEW ZEALAND, including Aboriginal Natives, 46,000 in Number to end of 1872. Average op Ni: E YEAES, Imposts. Expobts. Imposts. Expoets. Yeaes. Population. Population. Value. Bate. Value. Rate. Value. Rate. Value. Rate. 1868 1867 1868 1869 1870 1871 1872 1873 1874 247,222 257,208 264,518 273,249 284,400 302,986 325,560 310,946 387,330 £ 5,657,601 5,179,393 4,825,312 4,841 ,400 4,360,941 3,967,098 5,059,472 6,332,295 8,022,686 £ s. d. 22 17 8 20 2 9 18 4 10 17 14 4 15 6 7 13 1 10 15 10 9 18 11 5 i 20 14 3 £ 4,396,100 4,479,404 4,268,762 4,090,134 4,544,682 5,171,054 5,107,186 5,477,979 5,152,143 £ s. d. 17 15 8 17 7 6 16 2 9 14 19 4 15 19 8 19 7 4 15 13 8 16 1 4 13 C 0 Victoria ... New South Wales New Zealand Ditto, including Natives 727,313 504,104 258,218 298,157 £ 10,540,630 6,616,767 5,360,688 5,360,688 £ s. d. 14 9 4 13 1 5 20 17 5 18 0 6 £ 10,554,037 6,361,596 4,743,056 4,743,056 £ s. d. 14 9 6 12 12 10 18 11 5 16 5 11 I n this table the British and Foreign goods exported from ea ach colony has been deducted from both Imports and Exports, leaving as Impc ufactures of such colony. Aboriginal population in 1873 estimated at 45,000 ; ic irts the goods retained in the colony, and for Exports the produce oi 1874, at 45,470.

67

8.—2.

Table L. RETURN showing the VALUE of GOLD, WOOL, GRAIN, and other AGRICULTURAL PRODUCE (including Flour, Butter, and Cheese), TIMBER, and FLAX, exported from the Colonies of VICTORIA, NEW SOUTH WALES, and NEW ZEALAND, for the Eight Years ended 31st December, 1874, with the Rate per head of Population.

Yeab 1867. Abticles. Victo: •ia. New Soutl Wales. New Zei iland. Value. Rate. Value. Rate. Value. Bate. Gold Wool Agricultural Produce Timber Flax £ 5,738,993 3,650,611 122,972 2,960 £ s. d. 8 14 0 5 10 7 0 3 7 0 0 1 £ 129,619 1,711,322 198,916 17,541 £ s. d. 0 5 9 3 16 6 0 8 10 0 0 10 £ 2,724,276 1,580,608 37,532 16,105 4,256 £ s. d. 12 9 2 7 4 7 0 3 5 0 15 0 0 5 Totals ... 2,057,398 4,362,777 9,515,536 14 8 3 4 11 10 19 19 0 Year 1868. Gold Wool Agricultural Produce Timber ... Flax 6,629,465 9 13 9 4,567,182 6 13 5 194,350 0 5 8 8,024 0 0 3 125,293 1,879,751 264,277 12,707 0 5 4 4 0 6 0 11 3 I 0 0 8 2,492,721 1,516,548 127,704 15,653 8,137 11 0 0 6 13 10 0 11 3 0 14 0 0 9 ... Totals ...' 11,399,021 16 13 1 ' • 4 17 9 1 4,160,763 18 7 2 2,282,028 Yeab 1869. Gold Wool Agricultural Produce Timber Flax 5,363,759 3,235,091 58,983 7,552 7 10 10 4 11 0 0 18 0 0 2 309,053 3,162,522 296,562 23,159 0 12 9 6 10 4 0 12 2 0 0 10 2,341,592 1,371,230 142,307 22,338 45,245 9 17 5 5 15 7 0 12 0 0 1 10 0 3 10 Totals ... 12 3* 8 3,791,296 7 16 1 3,922,712 16 10 8 8,665,385 sab 1870. Gold Wool Agricultural Produce Timber Flax 4,891,781 3,119,899 99,898 1,003 6 15 0 4 6 1 0 2 9 386,930 2,741,141 165,894 22,037 0 15 4 5 9 0 0 6 7 0 0 10 2,163,910 1,703,944 183,472 18,323 132,578 8 14 3 6 17 2 0 14 9 0 16 0 10 8 Totals ... 8,112,581 11 3 10 3,316,002 6 11 9 4,202,227 ; 16 10 8 !AE 1871. Gold Wool Agricultural Produce Timber Flax 5,423,687 4,287,011 75,924 6,733 7 4 1 5 13 1 0 2 0 0 0 2 353,356 4,748,160 157,367 58,371 0 13 7 9 2 10 0 6 0 0 2 3 2,788,368 10 8 10 1,606,144 6 0 3 203,506 0 15 3 20,479 0 16 90,611 0 6 10 Totals ... 9,793,355 12 19 4 5,317,254 10 4 8 4,709,108 17 12 8 :ab 1872. Gold Wool Agricultural Produce Timber Flax 4,644,434 4,260,801 104,323 1,515 6 0 6 5 10 6 0 2 8 454,468 3,312,900 210,065 36,160 0 16 10 6 3 11 0 7 9 0 14 1,730,992 2,537,919 205,654 27,373 99,405 6 3 10 9 16 0 14 8 0 1 11 0 7 1 Totals ... 9,011,073 11 13 8 ! 4,043,593 7 9 10 4,601,343 16 9 0 Yeae 1873. Gold Wool Agricultural Produce Timber Max 4,632,941 4,809,205 91,982 1,069 5 17 2 6 18 0 2 3 12 1 1 443,429 2,201,910 242,529 54,999 2,942,867 0 15 9 3 18 7 0 8 7 Oil 1,987,425 2,702,471 164,950 44,390 143,799 6 14 3 9 2 7 O 11 1 0 2 11 0 9 8 Totals ... . 9,535,197 5,043,035 5 4 0 17 0 6

8.—2.

68

Jj— continued. EETUEN showing tl ie Value of Gold, Wool, Grain, &c. — continued. Year 1874. AETICLE8. New South Wales. Victoria. New Zei .Mil. Value. Bate. Value. Rate. Value. Rate. Gold Wool Agricultural Produce Timber Flax £ 3,617,261 4,996,783 102,991 9,792 £ a. d. I 4 9 5 ' 6 3 7] 0 2 6 0 0 2 £ £ s. d. 154,949 0 5 3 5,010,125 8 11 5 289,322 0 9 10 52,841 0 19 £ 1,505,331 2,831,696 337,537 47,455 37,690 £ s. d. 4 8 0 8 5 7 0 19 8 0 2 9 0 2 2 Totals ... 8,726,827 10 15 8 ! 5,507,237 9 8 3 4,759,709 13 18 2 AVEBAGE if Eight Yeaes. Gold Wool Agricultural Produce Timber ... Flax 5,117,790 4,115,823 106,427 4,831 7 0 7 5 11 2 0 2 11 I 0 0 11 294,637 0 11 4 3,099,728 5 19 1 228,116 0 8 10 34,726 i 0 1 2 2,216,826 1,981,320 175,332 26,514 70,215 8 14 5 111 0 12 9 0 1 10 0 5 2 Totals ... 9,344,871 12 14 9 3,657,207 7 0 5 4,470,207 17 1 9