THE RAILWAY REVENUE.

Evening Post, Volume XXI, Issue 17, 21 January 1881, Page 2

THE RAILWAY REVENUE.

?¦ The return of receipts and expenditure on the New Zealand railways, up to the termination of the four weekly period ended 11th December, 1880, are now published. The total receipts for that period were £62,107, and the expenditure £37,482, the whole receipts during the current financial year up to the 11th ult. being £555,267. This is at the rate of just about £800,000 per annum, and as the Colonial Treasurer's estimate lor the current year was £950,000, it will at once be seen that there iSj as we predicted would be the case, a heavy- deficiency in this item. On the other hand, the expenditure has been materially reduced, and up to the last date for which the retnrnß are made up amounted to only 66 per cent, of the receipts. Assuming this rate to be maintained up to the 3lst March, there should be a net revenue available for payment of interest on cost amounting to nearly £275,000, which at 5 per cent., would.pay interest on five and a half millions. It must be borne in mind, however, that the sixteen weeks yet remaining to complete the financial year are among the best of the whole twelve months, j the first part for passengers, the hitter for • grain. For instance, all the Christmas and New Year traffic, which this time was very heavy, was not included in the last returns (these being only np to 11th December), but will come in the next. The large grain traffic only begin* about the end ©f February. The expenditure, too, is still in course of reduction. So altogether we may hope, taking all these things into consideration that our railways this year will yield ub at least £390,000 of net revenue, which, in that ease, would pay about 2| per cent, interest on their cost, or relieve the colony of the full interest on six millions of our public debt. * Comparing the various sections, we find the legitimate lines still showing good results, while the " political " railways and branches continue a mere drain on the colony. The Eyreton, Mount Somers, Waimate, Lawrencej Outram and Riverton branches all swallow up their whole receipts and more in working expenses. On the South 1 Bland main trunk line, 788 miles in ! length, the receipts "are, at the rate of £798 per mile per annum, anl the working expenses only 63i per cent. «