NEW ZEALAND FINANCE.

Auckland Star, Volume XXXII, Issue 116, 17 May 1901, Page 4

NEW ZEALAND FINANCE.

THE YEAR'S ACCOUNTS.

OLD AGE PENSIONS COST

£ 196,606,

£211663 FOR TRANSVAAL CON-

TINGENTS.

(By Tele&raph.-Press Association.)

WELLINGTON, Thursday. The accounts of the Consolidated fund, for the year ended March 31, 1901, appear in this week's "Gazette." At the beginning of the year there was £579,365 cash in the public account. Adding- to this the sum of £60,986 advances in the hands oi officers of the Government, and the balance of £635.000 on investment account, and deducting £700,000 for treasury bills outstanding", there was a balance at the beginning of the year of £605,351. The ordinary revenue accruing to revenue account amounted in the aggregate to £ 3,582,502. an increase of something- like £260,000 on the same revenue for the previous year. This was contributed as follows: Customs £2,180,861; stamps, including postal and telegraphic receipts, £903,934; land tax, £294,583; income tax, £173,808; beer duty, £85,170; railways, £1,720,640; registration and other fees, £67,537; marine, £29,553; miscellaneous, £126,410. None of these sources of revenue has shown a great difference, on the figures for the previous year. Territorial revenues yielded £270,203; receipts m aid, £52 800: debentures issued under Dairy Industry Act, £1780; recoveries in respect of unauthorised expenditure of the previous year's trade with South Africa, £1410. The receipts for the year were accordingly £6,----514,048. The total expenditure for the year was £5,981,484. inclusive of £500,000 transferred to the public works account in terms of the Appropriation Act of last session. Permanent appropriations amounted to £ 2,335,223. The only item under this head calling for remark is the old age pensions appropriation of £ 196,606. During the previous year this appropriation absorbed only £1-57,094. The annual appropriations amounted to £3,144.----479, an increase of £289,670 on the amount for the previous year. Appropriations for working railways and for defence account form a great part of this increase, the former having increased, by £105,000, and the latter by. £64,000, Proceeds of the issue, of debentures, worth £1781 under the Dairy Industry Act. appear on the expenditure side of the account in the form of advances to dairy companies. The surplus of £532,564, which was announced a week or two ago, is made \ip as follows: Cash in the public account, £522,935; advances in the hands of Government officers, £119,626; balance on investment account, £600,000; total, £1,232,564; less treasury bills outstanding. £ 700,----000; surplus, £532,564. Coming to separate accounts, the treasury bills account stands at £700,000 as at the beginning^ pf the previous year. In anticipation of revenue, £370,000 worth of bills were issued; atld in renewal of matured bills £700,000. The account is credited with a similar amount for bills paid oft' and renewed during the year. The credit of the State Forests account has been increased during- the year from £ 23,765 to £ 31.823. In the accounts of local bodies there is also an increased credit, the amount now being £11,627. The lodgments during the year, amounting to £ 486,----187, included £211,663 from the Imperial Government for South African Contingents, and £117.773 for the purchase of oats. / The credit of the public works account has increased from £ 139,749 to £ 232,515. Receipts under the Aid to Public Works and Land Settlement Acts amounted to £1,400,000, as compared with £945,000 for the previous year. ..On the other side the usual appropriations ■ have increased from £964,759 to .£1,307,511, this being due in a great measure to an increase o* £300,000, the appropriation for railways. The Cheviot Estate account shows a balance of £1i,680. In the Lands for Settlement Account debentures for. the purchase of estates realised £219,000, and receipts from estates,£72,7Bl. The sum of £186,621 was expended in the purchase of estates, including £141,618 for the Hatuma Estate, and £ 15.750 for Lyndon (Messrs A. and D. Macfai'lane's Estate). Expenses amounted to £9,682, and there is now a balance On the account .qf £ 93,34% .as against £53,389 for the previous year. Oh both sides of the conversion, account'appears the item £509,000, 3A per, cent, consolidated stock debentures issued. in ( exchange, for debentures under the Government Loans to Local Bodies Act of "1886, which fell clue on the 31st December last. Minor items on both sides of the account leave a balance of £3,887.' On the consols account, deposits' anKmnting- to £ 17,902 were inscribed, 1 and there is a cash and investment-bal-ance of i£ 459.389; ' " ' : The loans to local bodies accotmt shows' that £176,000 worth of debentures were issued during the year. Ex- [ penditure included grants amounting to £41,611 to Counties, £18,495 to Road Boards, and £10,000 to River Boards Under the Act of 1886, and £48.100 to Boroughs under the Act of 1898. An appropriation of £37,390 was made for roads to open up Crown lands, and there is a balance of £27,972. ' The Advances to Settlers Office Loan account shows that £380,000 was paid over to the office oh the strength of the creation of £240,000 worth of 3 per cent, stock, and a temporary advance of £140,000 on security of short-dated debentiires. Debentures amounting to £2000' were created under the Government Accident Insurance Act of 1899, and handed to the Commissioner. Tite Bank of New Zealand's account discloses that £500,000 worth of preferred share certificates were re-, purchased by the bank, and that v amount handed to the Public Trustee.