8,—6.

XXXV

The general results of the year's finance may be summarised as follows : — Balance brought forward, Ist April, 1908 .... .... .... £767,849 Receipts during year, — Revenue ... .... .... £9,001,185 Other receipts .... .... 800 £9,001,985 Expenditure during year, — Appropriations .... .... .... 8,785,513 Excess of receipts over expenditure .... .... 216,472 £984,321 Transfer to Public Works Fund .... .... .... .... 800,000 Balance, 31st March, 1909 .... .... .... .... £184,321 Public Works. During the year the sum of £2,169,278 has been expended on public works, as against £1,881,564 spent in the previous year. The principal items of expenditure were as follows : — £ Railway-construction .... .... 713,000 Addition to open lines .... .... 390,000 Roads .... .... .... ... 469,000 Public buildings .... .... .... 285,000 Telegraph-extension .... .... .... 163,000 The position of the Public Works Fund on the 31st March was as follows :— Balance from last year .... .... .... .... £152,563 Receipts, — Loan-money (including premium) .... ■ £1,604,094 Transfer from revenue .... .... 800,000 Other receipts .... .... .... 1,610 2,405,704 2,558,267 Expenditure, — Under appropriations, &c. .... £2,169,278 Other charges .... .... .... 5,280 2,174,558 Balance at 31st March, 1909.... .... .... .... 383,709 Balance loan-money to receive .... .... .... 50,000 Available public-works moneys to start the current year with .... .... .... .... .... .... £433,709 The Statement of Receipts and Expenditure for the financial year, attached, gives full particulars of the various accounts. Renewals. The amount which fell due during the past year was £3,133,238. The greater portion was renewed for a longer term, and the result of the renewals is that the interest charges are reduced. Loans. In addition to authorities already in force, Parliament last year authorised the raising of £1,250,000 for public works, and £1,000,000 for the acquisition of

vi—B. 6.