42

I.—6b

APPENDIX B.—EXHIBITS.

Exhibit No. 1 (E. W. Kane, Clerk, Public Accounts Committee). CONCLUSION. For the purpose of showing how the "tapering-off policy," succeeded by the self-reliant non-borrowing policy, has affected our Public Works expenditure during the last few years, I give the following figures, which represent the total expenditure under the Public Works Fund during each of the years mentioned, and which afford the fullest evidence of the resources and capabilities of the colony, seeing that, notwithstanding this enormous diminution in our loan expenditure, the colony is becoming year by year more prosperous, and its financial position steadily improving. The figures showing the loan expenditure during the the several years are as follows — namely: 1885-86, £1,475,386; 1886-87, £1,333,484; 1887-88, £966,159; 1888-89, £613,939; 1889-90, £482,464; 1890-91, £334,756 ; 1891-92, £295,978. Having now fully disclosed our proposals for the year, I think I may again claim that, in view of the reduced amount of ways and means available, and the resolute determination of the Government to avoid even the appearance of a borrowing policy, that the allocation of funds which we have proposed is a-feir-rffld-t'eaeoftatelej- and under all the circumstances of the case, not an u-amiseiiable unsatisfactory one.

Exhibit No. 2 (E. W. Kane, Clerk, Public Accounts Committee). CONCLUSION. For the purpose of showing how the " tapering-off policy," succeeded by the self-reliant non-borrowing policy, has affected our Public Works expenditure during the last few years, I give the following figures, which represent the total expenditure under the Public Works Fund during each of the years mentioned, and which bear eloquent testimony to the self-sacrificing spirit exhibited by our colonists in accepting with thorough good-will the decreased, expenditure which that policy has entailed, and, which also afford the fullest evidence of the resources and capabilities of the colony, seeing that, notwithstanding this enormous diminution in our loan expenditure, the eeleey country is becoming year by year more prosperous, and its financial position steadily improving. The figures showing the loan expenditure during the several years are as follows —namely: 1885-86, £1, 475,386; 1886-87, .£1,333,484; 1887-88, £966,159; 1888-89, £613,939 ; 1889-90, £482,464 ; 1890-91, £334,756 ; 1891-92, £295,978. The abolition of the system of sub-contracting in connection with, our public works, announced, in last year's Statement and resolutely adhered to since, has given unqualified satisfaction throughout the country; and the introduction of the co-operative system of construction has likewise led to most beneficial results, experience proving that works are carried out in a more satisfactory manner under this system than under the contract system, and, at no increase in cost. Having now fully disclosed our proposals for the year, I think I may again claim, in view of the reduced amount of ways and means available, and the resolute determination of the Government to avoid even the appearance of a borrowing policy, that the allocation of funds which we have proposed is a fair and reasonable and, under all the circumstances of the case, »at not an unsatisfactory one.

Note.—The words in italics show the written interlineations in the print " Conclusion," as produced before the Committee.— (E.W.K.)

Exhibit No. 3 (E. W. Kane, Clerk, Public Accounts Committee).

1S85-86. I 1886-87. 1887-88. 1888-89. 1889-90. 1890-91. 1891-92. ,475,386 1,333,484 966,159 613,939 482,464 334,756 295,978