THE FINANCIAL STATEMENT.

Grey River Argus, Volume 57, Issue 10520, 24 August 1901, Page 3

THE FINANCIAL STATEMENT.

(o) PITH OF THE BUDGET. The revenue for the past year totalled L5,852,706. ; The ordinary revenue for the past year was 5,582,502. The territorial revenue was L270,204. The total revenue showed an increase over the previous year of L272,320. The expenditure for the past year amounted to L5,479,703. The permament appropriations totalled L2,335,223. The increase in the above for the year was L49,905. The Departmental expenditure last yearvrasL3,U4,4Bo. The increase on the above for the year was L289,670. The excess of receipts over expenditure was L427.213. The amount carried over from previous year was L105,351. The total balance brought forward at the end of the year was L532,564. The liabilities against this at the end of the year were L206,828. It is proposed to transfer to the Public Works Fund L500,000. Leaving to be carried forward L32,564. _.. The revenue for the current year is estimated at L5,896,000. The expenditure for the current year is estimated at L5,763,814. The expected balance at the end of theyearisLl64,7so. This balance will be reduced by the amountof the Supplementary Estimates. The net public debt on the 31st March last was L48,557,751. The increase of the public debt during the year was L1,<327,675. The loans to local bodies last year totalled L1 38, 956. Loans towards opening up lands for settlement L37,390. The amount authorised for purchase of lands for settlement was L350.193. The amount actually spent was L186.621. The area acquired under the Lands

'iBl -^~~~ — - for Settlement Act last year was 70,833 acres. The cost of Old Age Pensions for the current year is estimated at L215,004: The Public Works expenditure last year was L1,307,511. The liabilities against the Public Works Fund amounted to L1,292,096. The Public Works expenditure for the currentyear isplaced atL1, 950,000. It is proposed to borrow for public works L1,000,000. ' Of the loan authorised last year there remained to be borrowed LBOO,OOO. The total available for public works expenditure is L2,532,515. It is proposed to open a State coal mine to supply the public services, such as railways, etc., which consume annually 115,000 tons. The reduction of mortgage-tax promised last session is not to be carried into effect. The Treasurer thinks it would be imprudent to do so. ,| is to be made for erection of cold stores, and the experiment is to I be first tried in South Africa. It is proposed to subsidise for a period of three years a South' African steamer service, the vessels not to go beyond South Africa. Proposals are to "be submitted for dealing with the San Francisco and Vancouver mail services.