THE FINANCIAL STATEMENT.

Hawke's Bay Herald, Volume 13, Issue 1072, 6 August 1869, Page 3

THE FINANCIAL STATEMENT.

The Nelson Colonist comments on the statement in the following terms:— "For clearness, frankness, and an evident mastery, of detail, it surpasses any financial statement that has been made in New Zealand for many years, if, indeed, it was ever equalled in the colony. It will bear lasting testimony to the financial ability of Mr. Yogel, as well as to the straightforward and intelligible policy of the Fox Government. The policy is against the destruction of the provinces, which the Treasurer says would not lessen taxation, and it is favourable to the re-union of Marlborough to Nelson, and of Southland to Otago, if that province cannot meet its liabilities. The statement exposes great financial mismanagement in recent years, and proposes strict reform. The estimated revenue for the current year is £1,046,000, and the estimated expenditure is £969,587. But there are back accounts to meet. Taking, however, the General Government expenditure, and the available means for the year, Mr. Yogel succeeds in showing a surplus of £17,000. It is proposed to place a small duty on grain and flour, which will yield about £14,000 ; and it is intended to borrow a small loan for making roads in the North Island, such loan to fall exclusively on the North Island, and not on the South. 1 '