REVENUE PROSPECTS.

Globe, Volume XX, Issue 1607, 15 April 1879, Page 3

REVENUE PROSPECTS.

[Press Special Hire.] Wellington, April 14. It is stated that the land revenue up to the end of the quarter ending 31st March realised £76 000. The estimate for the yeir was .£1,229,090, and it is now certain there will be a large deficit in the revenue from land. The deficit will, however, probably be more than covered by increases in receipts from Customs, railways, &c. It is stated that a misapprehension exists as to the power of the Government to sell more than a certain quantity of the reclaimed land, but the " Post," speaking apparently semiofficially, says this is an error. The Government have powtr to sell the whole, but in the House the Colonial Treasurer stated that unless unforseen circumstiuces should arise, he did not intend to sell more than would realise .£90,000 required to pay for reclamation and ,£30,000 required for the completion of the Hospital. For the three first quarters of the year the railway revenue has been £520,000, of which £211,000 has been paid iu during the quarter. The fourth and last quarter always shows a larger return, as nearly all the grain i 3 carried durirg this quarter, and at a moderate estimate another £250,000 should be realised before the close of the financial year, making a total of .£760,000. The Colonial Treasurer estimated the railway revenue at £710,000, but this amount will certainly be largely exceeded. The working expenses on many lines have also been largoly reduced, so that the proportion of profits to receipts will be considerably larger than in the past year and below the estimated expenditure.