THE BUDGET.

New Zealand Herald, Volume I, Issue 1, 13 November 1863, Page 2

THE BUDGET.

The Hon. the Colonial Treasurer, Mr Reader Wood, presented his Financial Statement to the House of Representatives on Tuesday/ tHe 10th "stent. Th, espoiie of the-hon. long, lucid, and highly satisfactory;-inasmuch as, notwithstanding the native rebellion that rages in ttia Northern Island, and tha heavy ex peaditure which its suppression involves 'the material progress and prosperity of ■ the Cokmv •eontinues to advance in the most eheerin? manner. s Very much of this advancement is, of coarse due to the vast auriferous resources of ■ot*>o* and to the enlarging'pastoral prosperity <A cA' terbury, Nelson Southland, and the Middle" Mand as a whole. But even,■ involved:a,,^ . B-tom th. North C. PS K, I,J£- 'J'"

with the policy of. the ejdsfcihg Government carried ont with a Una and fearless hand,' the long valueless wastes will be speedily peopled and reclaimed; and that not to the -wrong or ruin of the . Native race, but to their equal, if not larger, aggrandizement with the Europeans, whom they have so rudely and rashly sought to extirpate. As regards the Province of Auckland, the prospects wer« never more ciieensg than now. True we have a heavy and costly struggle upon oar hands; but the event of that struggle is neither doubtful net remois; and as one of its immediate consequences is the proclaimed and most invaluable enlargement of our borders Auckland, which hitherto had been " cabbinod, cribbed, confined ,, to a narrow verge of seaboard, will be enabled to incre&se in territory in flocks, herds, agriculture, commerce, and wealth, and thereby to maintain the proud position • from which, from, sheer lack of " elbowroom,"'<she has latterly been threatened te< be driven. Wβ' commend to our readers' a caxeftil perusal of the Colonial Treasurer' 3 statement, an abstract of which we taka : the liberty to transfer from our contemporary, the -Daily Southern Cross.'

The Hon. Colonial Treasurer divided his statement into five parts, as follows: —First, an account of - the. position of the- various loans; secondly,, a statement o£ t.he revenue and expenditure for the financial year Ending on the 30th.June last; thirdly a statement of extraordinary expenditure incurred on account of.the w, since the first of July last; fourthly, an estimate of the revenue and expenditure for the current year; and, fifthly, the proposals of the Government with reference to the iinanci&l arrangement which would be necessary in consequence of the present state of affairs. On the . first point, ho explained that the £150,000 -war loan of-. 1860 was alout all flj-.pended. The Imperial guarantee not having been yet obtained to th<a Half-Million Loan of last session, only £100,000 of ■ it had been raised, and that on Treasury bills. ' Nearly £9Q,000 of this sum was expended. The total amount to whichf the treasury was liable on lie 50th of June last was £119,59* Is 9d. The customs revenue for tie financial year 1E62-1£63, which tad - been estimated at £413,000, had realised £469,150, the increase boing in the Provinces of Canterbury, Otago. and Southland. The total reoeipts iad hoon £549,963, as against £458,000 estimated. The year's expenditure had been £866,242, the three-eighths customs revenue paid to the provim© £183,280, and refunds £4,425; leaving a surplus of £76.016. iJpon the sums voted, there had been a saving of £6,000 against an unauthorised expenditure of . £12,700. Against the surplus of £76,016, he proposed to charge the unauthorised expenditure, the cost of a Custom House at Dunedin. and an uu.iust postal charge msdo by the Homo Post-office authorities, leaving-still £36,744 for distribution. On account.of the Native insurrection there hed bsen spent sines July Ist to October loin, £145,1'34 6s. Id. Up.to the Ist of the present month £200,000 would cover every expenditure and liability,- showing, he thought, an economy for . which the Government had not received ereoit. The hen. gentleman next entered into figures showing the vast progress made by the colony in tbepast stwo years. . The increase of imports and exports is piJticularly worth notice. For 1860, the -value of the imports was £1,548,353, and of exports £588,000; for , 1562, the imports were .£4,626.032 . and the exports £2,422,734 the 'total revenue had increased from £464,759 to £1>1E6,009. lifter some observations on the tariff, tie Treasurer proceeded to give the estimates for the ensuing year, as follow:—Total customs _ re-ve-nue, £603,000, of which £105,000 was expected from : Auckland; postal revenue was estimated at £«h000; judicial, at 325,000; and other items brought up th-a total estimated revenue to £691.000. The "expenditure was estimated at £290,340 generally charged, and £146,314 provincially charged Of tie latter, £12,633 was devoted to Auckland. The three-eishth Customs would amount to £226,00u, ■ leaving a surplus of £21,095. With regard to his last subject, the suppression of rebellion and preven- " tion of it in future, of course it was impossible for s-EM-te'fofeiiel-the-espenso required; .He did not helie™ that a single battle would finish nor. yet that it would be intertable tut when they saw, as they soon vrpuld, that all . their efforts against us are practically «n»«ihng and that we are by far the superior power, then tney would submit to tho sovereignty of the Crown and to the law. . For the suppression of the rebellion the Government would ask for a lain of £1,800-000; and further, for purposes of immigration £300,000;- purchase of arms, £300,000; pupno works, such as roads, bridges, rendering rivers navigable, surveys, and general expenses of location oT L immigrants, £900.000; for the establishment of tolernP&o communication throughout the Miaule Island and under Cook's Straits, *150,000, the qu«tioil of further extension to Auckland and being left open for one year,- in the hope that the . .tateoftb* countacy. would then permit of ita be.t* carried overland; thus making a total loan of ■C 7500000 If the Imperial guarantee to ttie &»!!- -mimon k»an of last year could not be easi* ob™ined to the same terms as were-offered .Mr \Vard -Aβ Government ■ proposed to absorb that lnfiTVn '5-is liakinz a total then of three millions, on" Wch &iCopied to ask tie Imperial guaranA Her the locat.pn f acres . After lioTiOrabie geutiemd-u. "" following resolution: —