8.—6

XX

The importance of the use of cyanide of potassium in saving gold being of paramount interest in this colony, where there are vast quantities of ores which, so far as at present known, can be most successfully treated by that process, the application of the holders of the patent rights for New Zealand for permission to amend the specification of the patent was opposed by the Government, but unsuccessfully. Subsequently an agreement, subject to ratification by Parliament, for the purchase of the patent has been arranged. The necessity of conserving water for mining purposes, and irrigation generally, has not been lost sight of, and reports upon this subject have been presented to the House by the Minister of Mines. The expansion of the areas taken up for mining purposes on rugged mountainous lands, generally covered with dense bush, which are known to be auriferous, necessitates the continuance of provision being made for the construction of roads, tracks, and bridges. Votes will accordingly be submitted on the estimates for these purposes. OLD-AGE PENSIONS. Under the Registration of People's Claims Act, which was passed in 1896 for the purpose of arriving at an estimate of the cost of establishing an old-age-pension fund, the colony was divided into seventy-three old-age-pension districts. In each district a Deputy-Eegistrar was appointed to receive and investigate applications, and, on corroboration of material points, to issue certificates to claimants. The extended time prescribed for delivery of claims expired on the 31st July last, and up to that date 8,010 claims were registered. Some of these .were rejected, the greater part on the ground that the claimants were not sixty-five years of age on the date of the coming into operation of the Act. Most of these claimants have now reached the prescribed age. The total number of persons in the colony aged sixty-five years and upwards, according to the 1896 census returns, was 20,756. It may be reasonably inferred, therefore, that a large number of aged persons had not resided twenty years in the colony, and that there were some who were eligible but did not send in claims. Assuming that the number of eligible and deserving persons is 10,000, and that each pensioner is to receive 10s. a week, the amount required would be £260,000 per annum —a burden, it will be contended, too large for the taxpayers of the colony at present to bear. As will be seen from a paper to be laid upon the table, there is a general consensus of opinion that the proposal to give a pension of 10s. a week to all persons, irrespective of position, would involve too great an expenditure. I have carefully considered the question of ways and means, and whether we could initiate a scheme which, though it be not all one could desire, yet might assist our aged colonists to spend their remaining years in greater comfort. As there is a possibility of Parliament this session passing an old-age-pension scheme, appropriations for the necessary pensions will have to be voted; but as the year is far advanced, and some time will elapse before the necessary machinery and safeguards can be provided, it is hoped that a sum of £120,000 will be more than sufficient to meet claims. POST-OFFICE SAVINGS-BANK. The growth of the business of the Post-office Savings-Bank during the year , 1896 showed a marked increase on that of the preceding year. The result of the year's business, so far as it relates to the amount standing to the credit of depositors, will be seen from the following statement:— £ s. a. Amount due to depositors on 31st December, 1895 ... ... 3,895,543 0 3 Deposits during 1896 ... ... £2,881,152 16 3 Withdrawals during 1896 .... ... 2,591,558 19 4 Excess of deposits over withdrawals ... ... ... 289,593 16 11 Add interest for 1896 credited to depositors ... ... 126,497 16 3 Amount due to depositors on 31st December, 1896... ... £4,311,634 13 5 Increase during year 1896 ... ... ... ... £416,09113 2