TOWN EDITION. Evening Post. SATURDAY, OCTOBER 8, 1881. THE HALF-YEAR'S FINANCE.

Evening Post, Volume XXII, Issue 85, 8 October 1881, Page 2

TOWN EDITION. Evening Post. SATURDAY, OCTOBER 8, 1881. THE HALF-YEAR'S FINANCE.

«> Although the returns of Colonial Revenue and Expenditure for the quarter and halfyear, which ended on the 30th ult., are not yet complete, sufficient information is available to enable a tolerably close calculation to be arrived at as to the state of the public finances. Customs appear to have come in well and to show steady progress. We believe that when the full returns are made

up it will be found that the receipts from this chief source of revenue have been some i or £40,000 in excess of the estimated I yield. So far as we can learn, the receipts on account of stamps during the past halfyear are likely also to prove well on the right side. It must be remembered, however, that the second half of the year is always the more profitable of the two as regards this item, because that period includes the bank payments, those institutions componnding for their stamp dues in lump payments. The land revenue, we believe, is also some thousands above the estimate, land s»le3 having kept up well during the past half-year. We have previously referred to the railway revenue as likely to prove somewhat short of the estimated return. Thi3 latter was set down at j69i0,000 for the whole year, which would give £ 155,000 as the proportion for a moiety of that time. It always seemed to U3 that this was Bomewhat too sanguine an anticipation. We should have been more inclined to put it at .£875,000 for the year, and we fancy the half-year's j?ross receipts will be found not to exceed .£440,(.00. Un the other hand, the monthly returns show that the working expenses are being steadily kept down, and that their ratio to receipts is on a constantly decreasing percentage. The net profit, therefore, may reasonably bo counted on to come up to expectations. The official railway returns cannot bo compiled for Eoma days, but it is not difficult to arrivo at a tolerably close computation of the result of the half-ypar's business, and wo entertain little doubt that our estimate of the halfyear*3net profits— .£2oo,ooo- will turn out to be not very far wide the mark. The winter half-year is obviously not the " boer season." People drink much more beer between September and March than betweei March and September. We shall not be surprised, therefore, it' the beer duty should be found to have fallen somewhat short of half the estimated total for the who'e year, but tbis is almost sure to be m*de up in the current half year, especially it! we have a warm and dry summer, provojative of thirst and consequently of a demand for f 'long drinks" ihe other items of rev nue should give a good account of themselves, judging from general appearances, and when the complete returns are published, we believe the total will prove to be considerably to tbe good, coupled with a diminished expenditure. This is, of course, very satisfactory, as demonstrating the thorough soundness of this Colony at bottom, notwithstanding all the disparagement our credit has bo ireely sustained at the hands of ignorant, prejudiced, or interested outsiders. Uhero is no fear for the future of New Zealand, provided only due care is taMen to guard against any renewal of the reckless extravagance, mismanagement, and corruption, which were so decisively terminated by Parliament in 187J, and whioh otherwise must inevitably have landed the colony in very grave disaster at no distant period. We have now settled down to a more careful and economical system, and from that courie no considerations of passing popularity ought to indnce our legislators to swerve.