THE BUDGET.

Press, Volume I, Issue 9175, 5 August 1895, Page 2

THE BUDGET.

The following are the portions of the Budget mo3t likely to interest our Eoglieh readeis:— THE MILLION AND A HALF LOAN As the Government Advances to Settlers Act, 1b94, authorised th? raising of three millions, in sums not exceeding one and a half million ia each future year, subjscs to a limitation of two years from the date of the passing of the Act. Tho Loan Agents appointed under the Act proceeded lv issue a prospectus calling for tenders for one and a halt

millions of 3 per cent, inscribed stock, to bs lodged at the Bank of England on or

before .Friday, 3rd May, 1895. The price of issuo was fixed at £99 per cent. Inataimenta were made payable by 5 per cent, deposit, 25 per cent, on the

13th May, 35 per cent, on the Ist July, nnd 35 per cent, on the Ist August, 1595. Instalments paid in full on or after the 13th May, 1395, were to be subject to a discount at tho rate of £1 per cent, per annum. The stock will be inscribed in the books of the Bank of England on or after the Ist August next, but scrip paid up in full was to bs forthwith inscribed. Tiie nominal amount of stock was to curry six months' interest payable on the Ist, Ojtober, 1895. Oα opening the tenders at. the Bank of England the reeult wan found to be eminently satisfactory. In respect of one million and a half, applications for £5,960,400, at prices varying from £100 to £90 were sent in, and of these about 33 per cent, of the tenders was £94 8i 9'J, and the amount payable was £1,416,601 2a. The full accounts connected with this operation havo not yet been received from the loan agents so I am unable to state the exact amount of expenses incurred. I may, however, s&y that no portion of the loan wae uoderwritten, or any ezpense incurred in this reapoct. Aα offer to underwrke was made and declined. Correspondence relating to this loan operation will shortly be placed before you. Now, hoa. gentlemen may think that as the raiaiug oi this loan was attended with so much success, the opsratioa itself was of a simple character, but I can assure you that such was by no means the case. In the first place, tho determination to fix a lower rate of interest for onr new loan caused, as you may imagine, great anxiety, and was only decided upon after the most careful consideration, and I shall not, I hope, be accused of divulging matter of a confidential nature when 1 assure the House that some of the highest financial authorities in London were of opinion that a 3 per cent. loan would not be likely to prove successful. It is my pleasurable duty to state that our loan agents were indefatigable and uutiring in their exertions to ensure the success of tho loan after we had decided upon the rate of the minimum price of issue, and in connection with the splendid result I am not desirous of taking to myself any credit which properly belongs to them. I have also to thank the Governor of the Bank of England for bis valuable advice and assistance. To the General Manager of the Bank of New Zealand theu in London and to the local manager I am also indebted for the courtesy and information they so willingly extended to mc. The Queensland and Western Australian Governments cams out with 3£ per cent, loaue immediately before our own 5 per cent, loan was announced, aud I have had some calculations made, comparing the results of tho average prices of tbeir loans with oar own. I may here mention that the Western Australian loan was issued with an alternative currency, namely, twenty or forty years, while the Quoeuslaud and our own carry a fifty yeara , currency. The average annual charge per £100 of stock on each of these loans (of course leaving out of consideration the expenses of floating) is as foil ws :—The Queensland loan, which averaged £102 12s 7d, gives an annual charge of £3 8a 7d per cent. ; the Western Australian loans which averaged £103 Is 4d, gives an annual charge of £3 7s 2d per cent, for a forty years' currency, £3 5s 10d fora twenty years'currency, and £3 7s 4d for a fifty years' currency; New Zealand Three Per Cents., which averaged £94 83 9d, give an annual {charge of £3 4s 6d per cent. ; and now, applying these figures to the one million and a half loan, I find that, notwithstanding the prices over par obtained by the 6£ per cent, loans of Queensland and Western Australia, the price our own* loan realised, although under par, effects a saving to our taxpayers, as compared with Queensland, of £5062 19s per annum, or £153.125 for tLe full period of fifty years, and compared with Western Australia there is an annual saving of £2000 on the forty years' currency, or £8000 for the full term, or a saving of £1000 on twenty years' currency, or £20,000 for the full term. But supposing the ! Western Australian loan had had a fifty years' currency, then the comparison would show an annual raving of £2125, or £106,250 for the full term. These figures speak for themselves, but I will take one more illustration of the advantage derived from a 3 per cent, loan ovei a 3i per cent, loan, both having a currency of fifty years. Talcing the 3£ per cent, loan at par and the 3 per cent, loan at £94 8s 4d, the annual saving effected on a million and a half loan would be £4125, which represents a saving of £206,260 for the full period of fifty years. Furthermore, I can assure you that in the annual charge I have taken into consideration the amount required to restore the full capital charge by the time the loan falls due. This saving of the taxpayers' money may be stated in another and even more forcible way. Take, for instance, the £4125 jost referred to. Now this amount, if invested at 3 per cunt, compound interest, would by the time our loan expires, reach in round figures the large sum of £466,000, or if compounded at a £ per cent, rate it would produce over £500,000 during the same period. With these figures before you, I am justified in feeling a profound sense of satisfaction at having been, in my humble way, the associate in carrying to a successful result what, in my opinion, must be termed a splendid operation, one which, in addition to the enormous advantages gained by bringing money down to a ievel that admits of its being profitably employed by those who require it to develop the industries and commerce of the country, again enables New Zealand to lead the van of new and beneficial undertakings amongst her Continental neighbours. BANK ASSETS COMPANST. I deem it my duty to- state that, in my opinion, the present position of the Bank of New Zealand Estates Company is far from satisfactory. Hon. members are aware that this Company owns large aieaa of land, which, whilst in

many cases suitable for settlement, are not now worked to the best mi vantage. Attached as the Company ie to the }}&uk of New Zealand I an> convinced it would be advisable at ar: early data to seriously coasiiler in what tnauner this iutim»tc relation can be modified. At Ibe same titre I may they say no hasty treatment of this important matter should be entertained. In my opinion the subject 13 sufficiently important to warrant tiio special consideration of a Select Committee of both Houses. RKCIPROCiTS* WITH CANADA. I feel sure that it will be gratifying to ail in this country to know that a tariff treaty has been arranged (subject to the approval of the Legislatures ot both countries (between Canada and New Zealand). The main features of the treaty are that some of our great staple produces will be admitted in Canada free. Under the proposals a considerable expansion of

trade may be looked for in the products

brought forth by country settlers, aa well as of trade generally in the colony. As soon as the necessary preliminaries to confirm the proposal have been completed there will be a free market between Canada and New ZeaUnd for wool and woollen manufactures, blankets, flannels, tweeds, rugs, live stock, frozen and fresh meat, bacon and hams, fish, hides, condensed or preserved milk, flax, barley, oats, wheat, flour, seeds, binder twine, coal, kerosene oil, safes, organs and pianofortes, tallow, lumber and timber. In addition to the articles on the free list named above concessions in favour of the following articles are made :—Should a duty be placed in New Zealand upon agricultural implements they are to be admitted frea from Cauada and a concession of 2j per cent, below the general tariff rates is also provided upon twine of all kinds, ropes, cordage. As Canada is a large manufacturer aud exporter of binder twine, ropes and cordage, the competition which will ensue in this couutry in this industry will rainove aoy friction that may have existed and insure at least a fair value up»n this article. There will also be a deduction equal to 10 per cent, off the Customs tariff upon leather, and 5 per cent, upon boots and shoes, harness, aud saddlery as between the two countries. This latter proposal will, I trust, meet with the approval of the people of this couutry, inasmuch as under ordinary conditions it should enable our own manufacturers to gain a portion of the trade iv Canada, and to export a considerable quantity of these articles from New Zealand. i hey will at least fully hold their own with the Canadian article. There will also be a concession of 5 per cent, below the tariff rates allowed upon Canadian manufactured furniture and a similar concession is to bs made upon New Zealand furniture introduced into Canada. Particulars generally will ba obtained from tUe memorandum of agreement, which 1 shall presently read. Upon careful scrutiny it will be seen that the possibilities of trade with Canada are, under this tariff treaty, very great. The Canadian Dominion is withiu twenty days' steam of New Zealand. Iv considering the proposal as submitted by mc I would ask hon. members to recognise that the country with which we propose to enter into a tariff i treaty has a population of some 5,000,000, and as years go on the two countries must, as the result of this friendly interchange of trade, reap mutual and lasting benefits I would ask hon. members to give to this important proposal;, thus briefly sketched above, their most careful aud impartial consideration, recognising that auy expansion of market for New Zealaud products means increased naliou&l prosperity. With our laud settlement and with our increasing productive powers going on apace, it is absolutely essential to enable oar country to prosper that fresh markets should be found in other countries for our products. We propose now to begin with two great British dependencies aud I sincerely hope the movement will bo supported with spirit aud enterprise by our fellow-colonists in all parts of '.he couutry. I have had auuio statistics prepared, wbich'l attach, for the information of hon. members, so as to show the possibilities of trade with Canada. It is, a3 I have said in speaking of the South Australian proposals, very difficult to estimate the degree to which the possibilities of trade will extend, under <* treaty such-as I haw sketched to you. Unlike South Australia, which is closer to New Zealand, and the people of which are more familiar with our commercial condition aud requirements, I am of opinion that at first tho growth of trade between Canada aud New Zealand will be slow, from the fj.ct that new oonnectiono will have to ba opened up by commercial ho uses/in both countries, which would probably entail visits to the respective countries by representatives of those houses, aud necessarily thero would be soino delay at toe inception of the proposed interchange of tradu. I should not, however, expect to have to provide more than £5000 during the firat year, as the result of concessions upon the articles named to be imported from Canada. I may in this respect be mistaken, and in order to insure that sufficient is provided, I have, in estimating the linauces, ailotvad for thy amount beiug doubled if necessary. " Memorandum referred to respecting improved commercial relations aud reciprocal tariff regulations as agreed on in conference held informally in Ottawa on the 10 li June, 1895, between Sir Mackenzie Bowel. l , Premier, &c, and the Hon. Geo. Foster, Financo Minister, &c, as representing Canadian interests, and the Hon. J. G. Ward, Treasurer, Post misterGeneral, &c, as representing New Zealand interests, subject to the approval of the Governments and Legislatures of Canada and New Zealand respectively.

"The following named articles, when the produce or manufacture of New Zealand imported direct therefrom iuto Canada, and when the produce or manufacture of Canada and imported direct therefrom iuto New Zealand, to be admitted in both cases free of Customs duties, viz :—(1) Animals (live) exempting hoga, (2) frozen or fresh meats, (3) bacon and hams, (4) fish, (5) hides, (6) milk (condeuaed or preserved), (7) wool and manufactures composed wholly or in part thereof viz., blankets, flannels, tweods and rugs, (8) flax (phormium), (9) barley, (10) oat?, (11) wheat and wheat flour, (12) seeds, (13) coal, (14) kerosene oil (petroleum), (15) safes, (16) organs and pianofortes, (17j tallow, (18) lumber and timber, planks, boards and dimensions stuff (rough or manufactured), including doors, sashes and blinds, (19) binder twine.

The following articles when imported under like conditions, and in like manner, to receive in both countries preferential treat* ment, as follows, viz.:—(1) Agricultural implements, ineiuding also axee, hatchets, scythes, forke, rakoa, hoes, shovels and spades, if made dutiable under the general tariff to be free; (2) twines of all kinds, ropes and cordage, a rate equal to 2£ per cent, ad valorem less than the general tariff rates current at date of importation; (3) leather, a rate equal to 10 per cent, off the rate current at date of importation ; (4) boots and shoes J harness and saddlery, at 17£ per cent., ad valorem, or in case the general tariff rate in both countries be 25 per cent, the preferential rate to be 20 per cent.; (5) furniture at 20 per cent, ad valorem. —Mackenzie Bowel], Geo. E. Foster, J. G. Ward, Colonial Treasurer, New Zealand. " CANADIAN PACIFIC MAIL SERVICE. To enable the trade between Canada and New Zealand to be successfully carried on, it is advisable that regular steamer communication between the two countries should be established. With this view an agreement ■ between the Canadian Pacific SteamahipJCompany and the Government will be submitted to the House for approval. The line of steamers at present running between Canada and Australia is subsidised for a period of about eight years by the Canadian Government, and also for a shorter period by the New South Wales Government. It is proposed that the line of steamers should run to either Auckland or Wellington, and in return for a monthly service to be conducted with a view to necessary expedition and accommodation, touching at Fiji and Honoluln. to give the Company a subsidy of £20,000 per annum for a period of years to be fixed. 1 believe that the advantage, directly or in- I directly, which will be gained by the colony if this proposal is given effect to, will more than warrant this outlay. The whole sum of £20,000 cannot in any case be a direct loss to the colony, inasmuch as the line of steamers so subsidised will carry mail matter, upon which, under ordinary circumstances, we would have to pay a poundage. The advantages of such a ser/ioe in developing our tourist

ir ifllc cannot bo overestimate 1- "With the establishment of this service it, ianoliutended to abandon or weaken our support of tho San Francisco ha«, which gives us an important connection with America. Our policy is to have a tortnightly connection from New Zealand by tho two lines to America and Canada respectively. PACIFIC CABLE. The important question of establishing a Pacific oxble by an all-British route to Canada and England lias engaged the attention of the Government during the recess. The matter proceeds somewuat slowly, owing to the ixc.t that several countries are interested with New Zealand in the establishing of the Pacific, and joint action is necessarily required. The Canadian Government; are very much iv earnest in their desire to have their country connected with the colonies by a cable touchiug the Pacific Islands en rout?. The matter 13 one of much importance to New Zealand at; ths present time. As lion. member 3 are aware, our cable connection crosses a number of territories outside the British Empire, and in the event of war tho maintenance of communication through so m*ny countries would be greatly imperilled. Owing to the isolated position we occupy there probably ia no country to which iv this reapece war would be of more serious consequence. This fact renders it all the more necessary that we should do all in our power to hasten the establishment of a Pacific cable quite independent of the commercial advantages thereof. It is proposed to ask the House to Assent to the necessary legislation to give the Government power to co-operate with Canada and otler countries interested in pushing forward this project. A careful analysis of the cost and of the commercial possibi* lities resulting from tho establishment of such a cable demonstrates that it would not involve any heavy contribution or sespocoibiiity ou the part of New Zealand. I feel aure that bon. members ou both sides of the Souse will recognise the importance of our endeavouring to remedy the unfortunate position of affairs which might, should an emergency arise, result in seriously affecting the industries of New Zealand. RECIPROCITY WITH SOUTH AUSTRALIA. I will first deal with the tariff treaty betweeu South Australia and New Zealand. Since this tariff treaty has been published some of the highly-protective colonies of Australia have taken exception to it, and have gone out of their way to endeavour to prevent New Zealand from sharing iv the beuefit3 of intercolonial trade. It does not require much thought to see that the very strength ot the position is to ensure that there should be special concessions for New Zealand. Because, if the treaty I have referred to had general appli- j cation, there would be no advantage in having a treaty afc all. But it must be borne i mind that the treaty with South Australia does not prevent us from entering into similar arrangements with othor colonies upon such articles as may ba agreed upon. Iv other worda, we can send to any other colony every article we are agreeing under this treaty to send to South Australia, and South Australia can do likewise. Our concessions apply to the articles we each receive. If Victoria has anything outside the four articles we havo agreed to accept from South Australia in exchange for goods from this colouy, we should be delighted to consider a proposal from them ; aud I have no doubt that South Australia would be equally pleased to treat with. them. For South Australia or New Zealand to adopt the policy of standing by, and letting the highly protective colonies exclude them from the beneata of Australa lasian trade would, in my opinion, be suicide. I shall presently read the memorandum of agreement between the respective colonies, from which it will be seen that South Australia agrees to accept, free of duty—Birley, oats, horses and hops ; and N?w Zealand, likewise, agiees to occupy Lee of duty, the wiflo, oiive oil, dried aud freali fruit's aad salt of South Australia. There is an understanding that the admission of wine to this country will cease should prohibition at any time become the law of the land. In considering the reciprocity treaty with •South Australia, I would ask liou. membeis m recognise that this is bat the thin end of ths wedge, and what is now being proposed to be done may lead tho way to farther deeirable concessions between the other Australian colonies. It is to mc difficult to understand the arguments that have boon put forth by some in Australia and New Zetland adverse to their desire for a federated Australia, a proposal which does not directly concern New Zealand. It is not easy to calculate what trade will be created under tho reciprocity tariff with South Australia. A year or two's experience will be necessary to enable a fair comparison to be made on both aides. The articles we now propose to make free have been to a laige exient made prohibitory by the duty imposed on them, and the development of trade whiuh will follow the removal of tho duty is not easy to estimated. I'hei'c are those iv thie colony who .will iirgue that the treaty is iv favour of South Australia, whilst on the other hand there are those in South Australia who argm that tho treaty is in favour of Now Zealand. I say that those who are desirous of creating a reciprocal treaty, as we arc, must be prepared to give aud take, aud that upon the broad principle of having a free market for oar staple products on both Bides. We should not be too fastidious iv endeavourins t0 forecast whether the balance of gain will be for or against either country. The question should be, Is it desirable to promote our trade with a great colony like South Australia? To that the auswer of a large majority of the people in this colony will be that it is to our advantage. Then, if it i 3 to our advantage, are we prepared to make any temporary sacrifice that may be nocessary in order to create a friendly interchange of trade with the neighbouring colony ? To that the answer would undeniably be, we certainly should. I have had a cartful eatimato offered of the probable loss of revenue to this colouy during the first year's operations of che treaty, and I think I am within the mark when I state that it will not exceed £6000, an. amount I have provided for in the estimate for the year, and have left a considerable margin to spare, in case my judgment should be at fault. Before leaving this subject Ithinkitisrighttodrawattentiou to the advantages which may be reasonably anticipated from establishing a trade with South Australia. It will be interesting, to hoo. members to know that during 1893 South Australia imported from Victoria 23,040 bushels of barley , , valued at £5332, and also 44,991 bushels" of oats, valued at £3949. South Australia imported from New Zealand Jast year 12.9T7 bushels of oats, valued at £1209. In ISB6 New Zealand exported to South Australia 33,641 bushels or barley, valued at £6914. and 200.605 bushels of oats, valued at £20,663. The following year the South Australiau Government raised tb «luty ou barley froaa 9d to la 6d per "bushel, and on oats from 3d per bushel to 2a per cental.-and thoreby practically shut oa*> New Zealand from the South Australian market. There is alao every possibility of a large timber trade being developed, for South Australia imports annually £174,000 worth of timber, a very large proportion of which could be supplied by tfew Zealand. I can only say that 1 trust that hon. members will view impartially the proposed trade arrangements with South Australia. That, sneb arrangements are certain to become: the forerunner of other treaties, which in the, ordinary conrae must add materially to the wealth, of this colony I am firmly persuaded. " Agreement made this 2nd day of February, 1895, between the Hon. Joseph Gearga Ward, Treasurer, acting for the Government of New Zealand of the one part, and the Hen. Charles Cameron Attorney- < General, acting for, the Government of South Australia of the other part, whereby ; it is agreed ac follows; that ia to say:—ll) ; Daring the term of this agreement South i Australia shall admit; doty free the goode referred to in the first schedule, the produce 1 of New Zealand. (2) Daring tho term of i his agreement New Zealand shall admit i duty free the goods referred to in the second 1 schedule, the products of South Australia. ! (3) During the term of this' agreement ■ neither New Zealand cor South Australia i .shall reduce the existing duties leviable on ] the goods referred to in the said schedules ] the produce of any other colony or < country. (4) This agreement to com- < xnenee on the Ist day of May next ensu- i ing, and to continue for seven years from such dale, subject to determination by one i year'a colice ou eisher side. (5) Schedule '

1, goods to be admitted duty"free by South Australia: — lurlov, oats, horses ; schedule 2. goods lo he admitted duty free hy New Zealand:—Wir.e, olive oil, salt, (b) For the purpose of giving effect to this agrcemeut until fully authorised by Act each colony will refund any duty collected on goods herein agreed to bo free. (7) Either party have the right to cancel this agreement by notice to each oiher any time on or before noon of Wednesday, 6th February inst. — J. G. Ward, C. C. Kingston. It is hereby lurther agreed, snbject to confirmation, ac per original agreement, that the following commodities shall be included in the ftn-anqemenLs for free interchange between New " Zealand and South Australia, namely : —New Zsaland to admit, free South Australian grown fresh and dried fruit, South Australia to admit free New Zealand grown hop 3, South Australian grapes to be guaranteed free of disease, and m the event of disease lo be prohibited uutil free of disease. For New Zealand, J. G. Ward ; for South Australia, J. H. Gordon, Chief Secretary."

ALTERATIONS IN THE TARIFF.

Oa Tuesday night the Colonial Treasurer the Hon. J. G. Ward delivered the Financial Statement. The following ia the new tariff :— Resolutions from Committee of Ways and Means :—Resolved —That there should be levied, collected, and paid to and for the use of her Majesty upou the undermentioned goods, wares, and merchandise on importation into New Zealand or on being cleared from any warehouse tor home consumption at the time of making perfect entry therefor, on aud aud after the 31st day of July, 1895| tho several altered or additional duties of Customs undermentioned :— Candied peel and drained peel, 3d per lb. Confectionery, chocolate, and plain trade packages, 3d per lb. Confectionery in fancy packages or small boxes for retail Bale, 25 per cent, ad valorem. Fruits, fresh, namely, currants, raspberries, gooseberries, blackberries, aud strawberries, id per lb. Fruitßpreserved in juice or syrup, 25 per cent, ad valorem. Fruit preserved by sulphurous acid, Id per lb. Gelatine, liquorice, cayenne pepper, carraway seeds and isinglass, 20 per cent. ad valorem. Jellies, solidified or tablet, 4d per lb. Pickles, 3s the Imperial gallon. Sauces, 4s the Imperial gallon. j Rice and riceflour, 4s per cwt. Rice malt. Id per lb. Vinegar, 6;1 the gallon up to 5 per cent, of acidity, and Id additional 1 per cent, the gillon Ale, beer, porter, cider and perry, 2s per uallon. Spirits, the strength of which can be ascertained by Sykes's hydrometer, in bulk, 16s th« proof gallon. Spirits in bulk sweetened or mixed, also cordials, bitters, aud liqueurs in bulk, 163 the liquid gallou. Coffne, raw, 2d per lb. Coffee essence, 20 par cent, ad valorem. Syrups and raepberry viuegar2s per cent. ad valorem. Tea in bulk, 5d per lb. Tea in packets for retail sale, 6d per lb. Acid, acetic, Id per lb for every 10 per cent, of acidity. Drug* not otherwise enumerated, 20 per cent, ad valorem. Tinctures and medicinal spirits containing more than 50 per cent, proof spirit. Ou and after the Ist January, 1895, Is per lb. Tinctures and medicinal spirits containing less than 50 per cent, proof spirit. Ou and after the Ist January, 1896, 6d per lb. Druggists' sundries and apothecaries' wives not otherwise enumerated, 20 per cent, ad valorem.

Chemicals not otherwise enumerated, 20 [iqv cent, ad valorem. Bikini; poucc, 20 ptr cent, ad valorem. Radices, flavouring, spirituous, 16s the

ij.uion. Glycerine, refined, 20 per cant, ad valorem. Saccharine .(except in the form of tabloids or tablets), Is 6cl per ounce.

Apparel made by British or foreign tailors to the order of residents iv the colony and intended for the individual use of such residents, whetherimportod by the residents themselves or through an importing firm, 40 per cent, ad valorem Hats and caps, 25 per cent, ad valorem.

Cotton piece goods, not otherwise enumerated, including shirtings, 10 per cent, ad valorem.

Cotton piece goods, namely, tapeetry, cretonnos, chintz, art crapo, frieze, velvets, datnosk3, towellings, prints, moquetto, Utrecht and Genoa velvets, muslins all kinds, window nets, laces, hollands and blinds, diapers in the piece, cotton tick, and coloured Belgian cotton tick, 20 per cent. Flannels (V flannelette) also flannel shirtings, imitation flannel, raised cotton, and -oft; spun piece goods, 20 per cent, ad valorem.

Union shirtings without distinction of value, 20 per cent, ad valorem.

Lace of ,»H kinds, exoep- gold and silver lace for military trimmings, 25 per cent, ad valorem.

Boots and shoes, slippers, goloshes, clogs and p&ttens, vamps, uppers, and lace 3, 25 per cent, ad valorem.

Heel iiml toe ytitfeuers and plates, 25 per cent, ad valorem.

B.igs of leather or leather cloth, 25 per ceut. valorem-.

Harness and saddlery, whips and whip thongs, 25 per cent, ad valorem.

Leather, viz., belting and belt leather, harness, bridle, legging, big, kip (other than Kasfc India), buff, split, 4d per lb. Cordovan, levanted leather, roans, sheepskins, morocco not otherwise enumerated, b-isil, sole leather, 3d par lb.

East India kip, Persians, lambskins and goattkina dressed (other than morocco), kangaroo and wallaby (dressed), stained and coloured calf, 2d per lb.

Leather not otherwise enumerated, Id per lb.

Leather, chamois, 20 per cent, ad valorem. Leather board or compo, 4d per lb. Leather cut into shapes, 25 per cent. ad valorem.

Leather loggings, 25 per cent, ad valorem. Leather manufactures not otherwise enumerated, 25 per cent, ad vdloiem. Portmanteaux, trunks (otherwise than iron), travelling and carpet bags, 25 per cent, ad valorem.

Carpets, druggets, floorcloth, mats, and matting, 20 per cent, ad valorem. Furniture, knife and plate powder and polish, 20 per cant, ad valorem. Bricks of all kinds, 20 per cent, ad valorem. .Glassware, also glass plate, polished, coloured and other kinds not otherwise enumerated, and globes and chimneys for lamps, 20 per cent, ad valorem. Lamps, lanterns and lamp wick, 20 per cent, ad valorem. Artificial flies, 25 per cent, ad valorem Jewellery (including precious stones cut or uucut), greenstone cut and polished, 25 per cent, ad valorem. Musical instruments of all kinds, 20 per cent, ad valorem. Perfumed spirits, £1 10s the gallon. Pictures, paintings, drawings, engravings and photographs, picture and photograph frames and mounts, 20 per cent, ad valorem.

Pipes, tobacco, cigar and cigarette holders, and cases for same, cigarette papers, and cases, 25 percent, ad valorem. Plate, gold or silver, 25 per cent, ad valorem.

Calendars and show cards, all kinds, 25 per cent, a<2 valorem. Cardboard boxes complete, or cardboard cut and shaped for boxes, 25 per cent, ad valorem.

Directories of New Zealand, or of acy part thereof, 25 per cent, ad valorem. Newspaper supplements, 25 per cent, a<2 valorem.

Stereotypes and matrices, 25 per cent. ad valorem.

Printed matter relating to patent or proprietary medicines, trade catalogues and price lists for firms or persons in the colony, 25 per cent, ad valorem.

Stationery, manufactured, viz., account books, manuscript books, bill heads, invoice and statement forms printed on rated paper, counter books, cheque and draft forms, bags end labels, blotting wads, ekefceh books, copying letter books, manifold writers, albums other than for photographs, diaries, plain or faint- lined ruled books, printed window tickets, other, printed, lithographed, or embossed stationery and Christmas, New Year, birthday and other simitar cards and booklets, 25 per cent, ad valorem.

Stationery and writing paper, not otherwise enumerated, 20 per cent, a<2 valorem.

Paper wrapping, viz., blue caadio, glazed

cap, glazed owing*, snull hand, lumborhand and tissue, 6s per cwt. Paper wrapping (other kinds, including brown cartridge and sugar papers), 5s per cwt

Cartridges, 10 to 24 bore, 3a per 100. Cartridge cases, Iβ 3d per 100. Cartridges not otherwise enumerated, 20 percent, ad valorem.

Copying presses, 20 per cent, ad valorem. Weighing machines, 20 per cent, ad valorem.

Firearms, 20 per cent, ad valorem. Gasometers, and other apparatus for gas> works, 20 per cent, ad valorem. Iron fencing wire, 6d per cwt. Iron barbed wire, la per cwt. Wooden ware and turnery and veneers, 20 per cent, ad valorem.

Traction engines, 20 per cent, ad valorem. Kerosene, 5d per gallon. Axle grease and solid lubricants, 20 per cent, ad valorem.

Paints and colours, ground in oil, 3s per cwt.

Paints and colours, mixed ready for use, 6s per cwt.

Varnish and gold size, 2s per gallon. Tarpaulins, tents, rick and waggon overs, aprons and elevators for reaping and binding machines, 20 per cent, ad valorem. Cattle, horned, 10s each. Horses. SI each. Linseed, £2 per ton. Onions, £1 per ton. Potatoes (except for scad purposes), £1 per ton.

Prepared calf meal, £1 5b per ton. Brooms and brushes, and bruahware not otherwise enumerated, 25 per cent, ad valorem.

Corks, cut, (including bungs), 20 per cent. ad vitldreiii.

Flock, 10 per bent ad valorem. Marble, granite, and other c; one, dressed or polished, and articles made therefrom, 25 per cent, ad valorem.

Mabahes, wax "plaid veatas " in cardboard boxes, containing under 100 matches, la per gross.

"Pocket vestas "in tin or other boxes, containing under 100 matches, Iβ 6d per gross.

"Sportsman's Ovalo" and "No. 4 tin vestas," in boxes, containing not more than 200 matches, 4s per gross. Other kinds, for overy 100 matches or fraction thereof contained in one box, 2s per grosß. Sausage skins, 3d per lb, including brine or salt. Spirits, methylated in the colony, 6d per gallon, in addition to any duty chargeable bylaw. * Oα auy goods imported into the colony a further duty of 20 per ceub. ad valorem shall bo charged when the goods are prison made.

The Customs duties now levied on the undermentioned articles to be abolished from 31st inst. :—Mutton birds, mauurei, alumina, sulphate, bluest one or sulphate of copper, catechu or cutch, chloride of caloium, iron sulphates, gall nuts, potassium cyanide, potasaium chlorate, sal ammoniac, soda acetate, crude soda ash, soda nitrate, soda silicate, sodium sulphate and auiphide, sulphur, turmeric, texeline, zinc chloride, surgical and dental instrunients aud appliances, scientific and assay balances, retorts, flasks and appliances for, chemical analysis and oaaay work ; hat makers , materials, namely, hat leather, hat linings, hat blocks, moulds, frames, ventilators, laaaele, lace ; gald and silver for military clothing, canvas of linen or flax, hessians (plain or etripo , ]), crotchet, darning and knitting cottens and angola mendings, tailors' trimmings. .■».

The following items to be substituted for those in Schedule B of the Act of 1888, namely :— Plaiu-oojoured imitation . haircloth, canvas, plain Verona And Italian cloth, buckram wadding and padding, silk worsted and cotton bindings and' braids; stay binding, silesias, drab, slate, and brown jeans, pocketiugs, slate and black unions, slate and black linens, umbrella makers , materials (namely, gloria and satin dechece not less than 44in in width, also piece goods other than those uiontioned in schedule B of. the Act of 1888 on auch condition's aa.<the Commissioner may approve), fur, skins green or sun dried, bootmakers'canvas plain and coloured, saddlers' collar lining, known as collar check, aud the same article plain, cork soles and sock soles, carpenters' baskets; bottles, empty, plain glass,, not being cut or ground, jara not exceeding 3in in diameter at the mouth, jars containing free goods or goods subject to fixed rates of duty, provided they are the ordinary commercial packages for such goods, sensitised Hurfacesforphotographicparposes; zinc plates and eugraved gloss pl*tes for photo-lithographic work; magiclanternsand lenses and slides for same ; musical instru ments specially imported for Volunteer bands ; microscopes and astronomical telescopes ; cloth-lived boards, not less than " royal " ; cloth-lined paper and enamelled paper, not less than " demy "; hand-made cheque paper ; ivorite, gelatine and metallic paper, not less than "demy " ; butter paper, known as parchment paper, and waxed paper; band saws and folding saws, luoludiug frames; bicycles and tricycles, fittings for, in the rough and not machined ; bolts, Sin by l£iu and under, and nuts for sime, the exemption in schedule B of the Aot of 1888 in favour of bolts and nuts lor carriage making and ship building to be withdrawn ; batchers' saws and cleavers, sheep shears, reaping hooks, soldering irons, paper hangers' scissors, picks, ..mattocks and quartz and knapping hammers, cape (percussion), chaff cnttera, com crashers, corn shelters and seed cleaners, crucibles, platinum, buckles of all kinds, emery-grinding machine, iron drums, empty, not exceeding lOgals in capacity; eyelets, fishhooks, blacksmiths'fane, iron and brass-wove wire and wire gaujjp, iron and zinc perforated or cellular . sheens, engines for dairies, machine pumps tor mines, machines for flour mills, woollen mills, rope and twinemaking. dredging, eawrnilling, planing and wood working (including lathes), scythe-bandies, set Screws, engineers' etude and split pins, spiral springs, steam and .hydraulic pressure and vaouum gauges, furnace flues, tinsmiths , fittings to iuclude stamped or blocked tin. uuplaniehed timber, namely, lance Wood uu-

wrought, wooden hubs cf all'lnds, »• riago iron fittings excluding fens, I"! irons, dash irons, and seat rag, wcJm haudles for tools, shale oil once j*n sutfelfi for gas making, turpentiue ad ten, wool packs and wool pockets ; epfiius and appliances for teaching pv«scs, as may be approved by the Comn£Ber; hawsers, 12in and over; net ejters 1 cotton twine, brushes for cream efetors, card clothing for woollen intlU, ph roll jackets, machine wires, beater**' *ud trainer plates for paper mills, d)'<s»» belting for machiuery other l\ leather belting, jute bagging, bags, s*t vrooU packs and wool pockets, pa. .makers' felts, tea packing lead, tub-' woven cotton cloCli, official supplies .'Consnlw officers of countries where a s"i*t exemption exists in favour of Bri* Coueule, spirits reudered lion-pbtaDle bAoufaotme into perfumery, &c. This rnption to cease after the Slac OecernbeN9s«