D.—l

TOTAL EXPENDITUEE. The expenditure during last financial year was less than during the previous year. The following table shows, as regards each class of work, (a) the total expenditure from the inauguration of the public-works policy to the 31st December, 1890 ; (b) the similar expenditure between the Ist January, 1891, and the 31st March, 1905; (c) the gross total expenditure to the 31st March, 1905 ; and (d) the expenditure for the late financial year : —

WAYS AND MEANS. At the 31st March, 1904, the available balance of ways and means for public-works purposes was £393,802; and further funds were received as under :— £ Balance of £1,000,000 raised under the Act of 1903 ... ... 416,050 Amount raised under the Act of 1904 ... ... ... ... 717,063 To provide for debentures falling due ... ... ... ... 755,200 Transferred from revenue ... ... ... ... ... 600,000 Miscellaneous receipts . ... ... ... ... ... 11,633 Making a gross total of ... ... ...£2,893,748 The ordinary expenditure of the year amounted to £1,219,838. In addition to this, £62,540 was transferred to the credit of the State Coal-mines Account in respect of the Point Elizabeth Eailway; debentures to the amount of .£365,600 were paid off, and others to the amount of £384,100 were renewed ; thus bringing the total disbursements up to £2,032,078, and leaving a credit balance at the end of the year of £861,670. For the current year it is proposed to provide additional funds as under :— £ Balance of 1904 loan ... ... ... ... ... 32,937 New loan of 1905 ... ... ... ... ... ... 1,000,000 ■ Transfer from the Consolidated Fund— For public works generally ... ... ... ... 500,000 For development of water-power ... ... ... ... 50,000 For irrigation water-supply ... ... ... ... 50,000 This will give a total available ways and means of £2,494,607. The estimated expenditure for public works for the current year (excluding separate accounts having their own ways and means) amounts to £2,286,719, thus leaving a balance of £207,888 to be carried forward to next year.

II

Ixpei ;ure. Glass of Work. A Total to 31st December, 1890. B 1st January, 1891, to 31st March, 1905. Total to 31st March, 1905. D Year ended 31st March, 1905. Railways— New construction ... Additions to open lines Utilisation of water-power Eoads Public buildings Immigration Purchase of Native lands Lighthouses, harbour-works, and harbour defences Tourist and health resorts Telegraph-extension ... Development of goldfields Defence-works (general) Departmental Payment to Midland Railway bondholders Minor works and services Cost and discount, raising loans, &c. £ 11,975,098 2,092,002 3,575,804 1,776,003 2,144,386 1,191,137 880,095 & 3,867,814 2,869,261 468 3,263,248 1,410,221 10,089 819,509 128,112 £ 15,842,912 4,961,263 468 6,839,052 3,186,224 2,154,475 2,010,646 1,008,207 £ 464,413 275,802 468 228,962 117,328 6,482 6,281 5,990 600,849 561,101 429,720 349,789 55,360 532,141 187,327 389,432 170,150 150,000 18,168 227,595 55,360 1,132,990 748,428 819,152 519,939 150,000 318,857 1,249,067 17,508 79,298 6,258 46,588 12,814 300,689 1,021,472 3,423 10,763 Totals ... Paeroa-Waihi Railway Account 26,898,145 14,098,895 66,138 40,997,040 66,138 1,282,378 39,676 Gross tocals 26,898,145 14,165,033 41,063,178 1,322,054