GENERAL ASSEMBLY.

Lyttelton Times, Volume XLVIII, Issue 5227, 20 November 1877, Page 2

GENERAL ASSEMBLY.

(FBOK TBI Paws* AGHKOT.) | legislative council. pfniTDAT. Not 19 In reply to toe Hon Colon-' r u Sir i; Willlem Jerroii iroald be hr* e . yP ?i third week in December, end hie ezMsinetion of toe defence of to g

Id the Hcrth, after haring Scut visited gfesmanie. She Education Bill vae resommiUed tor the pwpoieof making curtain alteration* in it The money okme, the eighth, we* ordered to be itraok oat after dividon by a majority of two TOtO*.

HOUSE OF EEPSEBENTAXIYHS. Mohdat, Hot. 10. The floc.ee Bjetat 2 80. *H» MISIBTBT. .

Sir 0. Geet announced that the Hon Hone ■ "Kaha had been sworn as a member of the

Executive Council. He hoped the House 5 Would appoint m additional interpreter, as Government wished Mr Hahe to ait on the Ministerial benches. Major Atbshbok qnite concurred in the propriety of the request, but supposed that a new interpreter would be appointed by the ~ Speaker and not by the Qoremment. The Spbaeee said that if he understood that the House wished an interpreter appointed he would be one of ite- officers, and the appointment would rest with him. msdsii*. The House then went into Committee on . the Land BUI. On clause 1, appendix 9, Land Districts of 'Canterbury, Mr Sxottt moved o proviso that the uniform price of 40s per acre should not apply • to pastoral lands set apart for sale on de- - farred payments. After discussion the proviso was negatived —.by S2 to 31. The remainder of the Bill was passed, and ‘on Its being reported, notice of re-committal was given in order to amend several sec- . Hons. The House met 7.30 p.m. THE FHfANdAL STATEMENT. fFor this print we are indebted to the - courtesy of the Government] lIWBOimOTIOH.

.. In making the Financial Statement, the ; jHod W. J. M. Labiiaoh aaid:—Sir, —The Honourable the Premier, a lew evenings •go, in a statement of the proposed fat are Sdioy of the Government, informed the oaee that it was oar desire to consolidate the administrative system of the Colony and to introduce a clear, comprehensive, eoonomi- . • oil, and stable plan of finance. This, Sir, is a work on the advisability of which I think all 2um members -must agree, and all will no , . fionbt agree that a work of saoh a nature ■cannot properly be accomplished without fall consideration. Under these circumstances ■ 'there are two courses open to ns. - - . Firstly To ask the House to vote supplies -.for a period of three or four months; to adjourn to meet again at an early period of ’>■ ness year, when we should be enabled to place < oil our plans before you In a matured term, ■ and toen to take your verdict upon them. 1 Or, eaoondly s—To tale up the estimates of the late Government, make snob modifications in their proposals as we might deem neoessary, and occupy ourselves daring the recess in fully re-organising and consolidating the present financial and departmental systems of "the Colony. Sir, the latter la the course wbioh we have determined to adopt. At the same rime that we resolve to do this, the House bos a right to expect that we should at least indicate our views upon the present financial condition of the Colony, the character of the changes we propose to make, and the necessity in our opinion that exists of making those changes,. THE yiKAHOIAX STATEMENT OX THB ZiAXB - COLONIAL TBKABOBBE. The late Colonial Treasurer has laid before this House an elaborate Financial Statement, -'famished with all the tables and returns that usually accompany each an important document. I, therefore, Sir, feel myself somewhat relieved of the duty of entering to any great - extantintominute detail*. I will at once admit, iir, that it would as impossible forme toaltompt to place more clearly before this House than '■'“the late hon Colonial Tre«Bt»w» dll details in reference to the loans which this Colony has from -Hmo to time ' contracted; nor have 1-the rime or the means ! at this very late period of the session to r -revise them. The Government has no other course to adopt bat to aooept them. So also with regard to the expenditure. Anxious as we are to effect changes of system by means of re-arrangement, economy, and consolidations, yet as more than one third of the preF sent financial year has already elapsed, and as much patient inquiry is requisite to prevent ~ -changes and reorganisation of this kind becoming mischievous and even dangerous to' the public service,. I feel that I have no other coone open to me at the present time then to ... accept the estimates of expenditure nearly ae os they sppeor in the tables recently L submitted by the late Treasurer. ' If, . however, by the drpumstances of the tatt, 1 am nedessanly precluded 'from • dealing with details, 1 ask the attention of the . House for a short time whilst I endeavour from my point o2 view to indicate briefly tne ' tendency of our present system of finance, the - -evils to which it is rapidly leading, and the only available remedy that 1 can see possible to enable this Colony, without imposing , -enormous burdens upon the people, to main .. tain its credit, and to, bring to a successful . issue the great policy .of Immigration and Public Works to whiob tbs Colony is pledged by the contracts it has entered into in relation to the works that ore in progress, besides the ! promisee of works to be initiated. waut.tbb MBBxnraa ox pahliament KBCSaBABY. One striking defect id the present system < of conducting the public expenditure is that ' the General Assembly frequently meets some ! time after the commencement of n new finim r '"‘■'malyedn Aftoi'the'meeting of -Parliament ■ <® period of several months sometimes elaps- a : t v e Act o! Appropriation passes the ''•.Assembly.'’ • : ' iV ’ ;,v Under snoh a system the expenditure is .

‘ -Conducted without any appropriation having been mode, and is Incurred solely upon the authority of Imprest Supply Act*, whioh direct the moneyb to be charged in a manner thereafter to be expressed in the appropriv -Sign of the year., from this it results that tbo Government is able to inoar any expenditure it pleases by simply placing on an : * estimate any amount for any service which it -. thinks proper to cndertobe, and the duty of i fcho Assembly resolves itself rather into the ' raSifieation of expenditure incurred during •' months of the, |w, than a careful ’ ■ watching of amounts which it is asked to vote. 'Jo cure this system one of the duties of the present Government will be either to alter the time of the commencement of the - year, or to take care that the Assembly meets at an early period, say not ". .Inter than the first week ip June. IBBUUBZ biuds atd othbb imatikg ; •" ’ BBBTS Sir, in the financial year 1874 76, there were • outstanding Treasury Bills, that is, : loans -raised to meet deficiencies in the revenues of tprevious years and chargeable on the Consolidated Fund to this extent of £400,000. The--amount was due and payable in that year, . but the Consolidated. Fund was unable to hoar eo large a charge. It was, howeverj /hoped that this sum might be gradually -redooed by the payment out of revenue of t., .£IOO,OOO per annum, until the whole amount j waa ek inguisbed. If that sanguine expeota- ■ iflpn had hsen realised, there would be out- . standing now only £200.000 of Treasury bills, -of which sum a moiety would vanish concur* .gently with the present financial year. Bat _ the present tendency is in on opposite direo* i Hon, for the amount of Treasury Bills in existence is now above £BOO,OOO, more than double the original sum referred to of 1874 75, "■’■'••Bd’faiiteid of there having ooonrrad any decrease la this .uwtiwdar form of the Colonial,indebtedness, the original sum may now safely be multiplied by two. Nofe only hare wo been unable oat of the superfluities of the ;. .present to pay off the of the past, hut the necessities of the present bar, -shown themselves to be far greater T than before, and the charge Consolidated Fund has now become so large, '*’* 'thatto meet'th¥sTTfeiiihry BiUe Slit jof the fund upon whioh they we by lay* I P™P« charge, appears to mo hopeless/ La the.year .1875 76, a farther issue of Treasury Bijlf, was requisite in aid of revenue ta,theamount of £172,0001 in the last, .year.a further nsne of Colonial Troosorer proposed to repeat a similar temporary borrowing this year as s ■receipt in Bid/ bat for this ooownon the

fund upon which thb advance fa to beseoured la dot too Oonaolidated Fond or the ordinary revenue of the Colony, but the Load Fund of the Itavinoial District of Otago i and a similar loan would hare been raised on the security of Canterbury, had it not been found possible to take £58,0C3 in cash from its territorial revenue. Suoh a condition of affair*, Sir, *a this is not oonaiderei by na in any way satisfactory. , There appears to be a sad want o! that equilibrium, that evenness of balance in our financial system, which before all things must exiat, if we intend to maintain our position os a solvent State, onr reputation as prudent, careful colonists, and, above all, our credit in the; Faglisb money market. OTIB SOSITION WITH EBQABD TO PSOVXNOXAIi

LIABILITIES. I, 1 Nop, Sir, it this all. If it were, psrhapsit would not bo so difficult to seoure an oven 1 belongs between our means and oar requirements as, I fear, may possibly be the case, or, to n»o a homely phrase, to learn how to make both ends. meet. Last session, this House finally determined ;to abolish this provincial system, and, in ao doing, bad to make all Provincial liabilities Colonial liabilities, for which this House has to make provision. The burden which has been undertaken by that policy is, in iny opinion, greater than was ever anticipated. The difficulty of ascertaining the amount of Provincial liabilities seems to be very great, and that of finding the means, wherewith to liquidate them when ascertained, seems to me to be still greater. XJp to June SO last, the sum of £237,600 bad been advanced from loan to meet payment of Provincial liabilities, and there existed, on that date overdrafts at the Bank, on Provincial account, to the sum of £105,888, or ah aggregate earn of £343 883, which total may be reduced by £45888, being the amount of balance in hand to meet liabilities on Provincial account, thus leaving still unsupported the sum of £297,600. Sir, so much 1 have said for the period up to the 80th June last, and from .that time I may be allowed to travelupon a different and perhape more uneven track. There are known to be at the date on which I am now speaking still farther liabilities on Provincial account outstanding amounting to £279,766, reducible by about £30,000 due from land fund and other sources, leaving a total to be provided for in some manner of £249,766 j and the House, I think, will agree with me that still farther liabilities in this direction will yet most surely present themselves. In tbs statement of these liabilities, which I found in preparation for the late Treasurer, they appear to reach a total of £660,000. ; There is a sum of £104,000 M bs paid in January next to the Wellington Trust and Loan Company for money lent to carry on the important reclamation improvement undertaking on the foreshore of the harbour of this city. It is true that tho works Contracted for promise undeniably to be reproductive. The land is security for the outlay, and very good seoui ity too, but still, Sir, the works are not yet fiaished, and are not likely to bo completed before or on the date upon which the payment becomes due, and it can hardly be expected that sales to any extent of sections can take place for some time to come. The money no doubt can be re;borrowed upon the security perhaps even on better 'terms than originally, and if there were no greater difficulties to face than this my task would be much easier than I apprehend it will be. • From the statement of the late Colonial Treasurer, the House will have seen that there remalnao available balances from loans upon'which I can pretend permanently to oharge any of these payments} .but, on the other hand, it is absolutely necessary to go into the money market under disadvantageous circumstances to borrow still farther, and to attempt to do so upon anything like res-enable terms, wo must be prepared with a state of finance characterised by soundness and stability.

TTNBTABIiB OHABAOTBB <MP EHOENX COIOSIAL ; ; V. •• BIKANOB. ---

. I ask, Sir, has there been exhibited 'any stability in the finance of this Colony during the recent past? By the Abolition Act, a financial arrangement supposed to be of a very different and permanent character, woo arrived at in reference to the land fund. This grand arrangement, promising durability and stability, never even saw the daylight of its but fell still born, and great difficulties would have arisen from this canoe had not certain provisions in the FinanoialArrsngemonts Act of last.session come to' the rescue of Colonial finance. These are the'ver/ provisions the late Government proposed again to alter this year, thus removing every fcraoe of fixity and finality from the finance of the Colony. Now, Bir,to meet all the exigienoies, to make the large payments on account of interest that this Colony has periodically to make, to pay salaries, and to provide for the'innumerable other matters that have daily to bo met, what, I ask, is the present state of the Treasury chest? I have been accustomed, sir, to deal, and I prefer to deal, with cash. It is very much more satisfactory, and more convincing, to deal with cash than with more brokerage accounts. With the latter, it is not difficult to manipulate baUncss; with the former,'it is not easy to show two sovereigns where in reality only one exists; BTATH OT THU PUBLIC ACCOUNT OH OUB ENTBT INTO 015108. On the 18th day of October last, the day on which this Government assumed office, there stood to the credit of the Colony altogether, »s shown by its banking account, the sum of £762,812 Is 83. Surely, sir, with such an overflowing treasury as this, the House will wonder what need there is for any financial' difficulty,,. 1 shall at one proceed, sir, to Chow the House of -w hat:,this balance; chiefly consists. Tb;the credit of - the consolidated fund there was £lO5 663 7* 81, to the credit of the land fund, £644,648Us 6d. 1 shall now lay before the House a full: statement of oi*h balances in’hand of bankers on the day. which 1,, have -referred 5 ,»!« » similar';; statement fos comparison of the 16th inst., with the amount# of the balances ofeaoh one of the numerous departmental accounts; THB LAND PUND J Its PEB3BNT POSITION. The whole of the land fund is appropriated by special enactment. The Government has no power, however large in ahy one year that fund may become, to touch one shilling of it for any purpose whatever,beyond that amount which the law places at its: disposal.; The whole of the residue is to be distributed in certain defined proportions to the Counties of the respective Provincial district* in which it is reised. An accumulated and excessive land , fund, nnder the present law* of this Colony, can never be used by the Government, even temporarily, -in aid of a deficient Colonial treasury. The laud fund this year, I feel pleasure in saying, will be largely in jexoezs of the sain estimated by the laty Op vernment. Tbe.estimate .was £748.000.. To Sept 30 there bad actually been paid' into the Treasury the sum of £642,231 Is 4d. Ido not mean to say that I anticipate I our times that sum as the land revenue for the year,; but! think it is quite reasonable to suppose that the respectable total of ■one, minion will; be realised, after pay mg all eubiidiesto municipalities, Rood Boards, &o, as provided by law. The residue, howeyer large, has; to be paid to the County Councils,; X beg |,o call the attention of tbeHonse to the. fast that. While the land fund receipts have op the whole been largely in excess of the. estimate, that excess has entirely arisen from the large sums'realised 'in the Provincial district of Canterbury, while in the other Provincial districts' the' amount realised has been much under'the estimate. i TBOPOSAX3 BBSABDINO THE VCTUBH DIBPO- - SITION Of LANS. BUND. Sir, although the land revenue , has ! nominally been regarded and treated: as Provincial revenue, yet in point of fact and p finally, it has, by various enactments' during the part years,’ been gradually'encroached upon and absorbed to each an extent, that in reality the idea that a large proportion is available for localisation is ft delusion only oaloul ted to . mislead the minds; of: the -people as to the real position; bf aff iirs, .such proportion not being for. the mosfcpart derived from actual land sales, but from Treasury- Bills. ..'Upder suohCironmstanods it is desirable that ;lihesubject’:should bo placed, 'upon, a more certain:and satisfactory footing, with ! which ; vlb‘4v>attd-?dr thd J pt»rpose of simpUifying Ahr public accounts, we propose to’do openly and straightforwardly that which our predecessors in office have hitherto been doing indi*

rwl3yahd.dislngcnßonsly.Bir, we mean to make the land; fund; Colonial revenue! subject to alltho obligation* which toe Colony baa undertaken in respect thereof, such a* cost ,of administration, cost of ramys, immigration, intereston Provincial loan*, and to forth. It is oar intention, however, that 20 per cent of too land rerenne ehall bo localised by law lor the purpose of being expended by the local authorities on roads, bridges, and public works within their respective districts ; and farther, wo shall ask Parliament to agree to one uniform land law, whereby the public estate, subject to' classification shall be sold at ' uniform price* through* out the Colony, whether on a system embi.cing free selection, deferred payments or otherwise. Sir, I wish also to be understood that, if .administrative reforms and reductions of expenditure can be effected to an extent which may allow of any increase of the proportion of 20 per cent referred to, snoh proportion shall have the benefit of it accordingly. On this subject I desire to add that, while .the circumstances into which the Colony has been permitted to drift render it imperative that the land revenue should be dealt with as we have first proposed, my colleagues and myself folly recognise that one of the most legitimate objects to which the revenue ought to be applied if to render' available for settlement the particular locality frou whence it has been derived; in fact, this ought to be regarded as one of the main conditions upon which the purchase money is paid. We are therefore of opinion that, in apportioning the public revenue throughout the Colony, such conditions should be kept faithfully in view. Before proceeding further, I may be permitted to say that the Government looks foroard to being enabled to submit to this House next session well-considered proposals based upon sound data, whereby important districts may be opened up and connected witn-? main railway lines by means of branch lines, to be constructed out of the proceeds of the land which will be rendered valuable and accessible by such branch lines. There are at present, as hon members are aware, extensive areas of pablio territory throughout the Colony which are unavailable for settlement, and which must continue to be so until rendered accessible by the railways or roads. This is a matter in respect to which the Government looks with favour upon the action that has been taken during the present session by private members. We are of opinion, however, that it is a subject which in the future ought to be dealt with by the Government, and we shall be prepared |to devote to it that consideration which its importance deserves. STAIKXBSAHOB AND BEPAIES OF MAIN liINBS OF BOADS AND BBIDOEB. The Government has doily since in office had brought under its notice the necessity of taking some steps to protect and keep ; ? n repair the maid roads and bridges of the Colony, and although by the legislation of last year the Counties were created to do this work, I regret to soy they have been unable in too many cases to grapple with the difficulties of the task thereby imposed upon them, and if the Government after due consideration find it to be to the interest of the Colony that it should undertake the work, it will not fail to do so, even if a portion of the subsidies • payable to any local bodies benefited by any particular road or public work may have to be diverted for the purpose. BBDUCIION IB DBPABTMBNTAE BXFBNDIXUBH,

Some .interest has boon excited .by that portion of the bon the Premier’s statement, which had relation to a reduction in the salaries of Ministers. There is a very laudable curiosity abroad as to the extant end nature of these proposed reductions which I desire at once to gratify. la the year 1873 the salaries of Ministers were raised from the sum of £IOOO per annum; eooh to £1750 for the Premier, and £1250 each for other Ministers, Wa shall propose a revision 6f list* and we shall ash the Houte to Si the Premier’s salary at £IOOO, and the salary of each of the other Ministers at the same amount. Wo, propose to sell, not privately, one of the steam vessels, now the property of the 'Government. The Public Accounts Committee report ’an the advisability of selling'ths Hinemoa,.but before determining which, boat to dispose of, wa shall be guided by careful and sound advioe from practically qualified to give 'lt, J -- —; y In dealing with the civil list it will be j our object to maintain the efflneooy of the public service, and not to but down salaries of .necessary officers, butte consolidate offices asmuob as possible; In this direction we have reason for believing that much can be done towards effecting a very large saving in the annual expenditure of the Colony. \

EAIX/WAY MANAGEMENT, Wo look forward to an early report from the Committee appointed at the beginning of this session to inquire into railway management, from which we expect to obtain much valuable information for our future guidance in the conduct of the most important of the public worki of the Colony, in whatever direction the report m‘ay point, we.shall be prepared to give it most seriousponeideration, and to inform the Homo of tha result of our deliberations. A Oommiesionappointed during the recess to inquire into the management of the Auckland lines reportedJ very strongly in favour of leasing them.- If the recommendations of the Commission referred to are supported by the . report of the Committee, we shall not hesitate, either in 'regard to the Auckland liaes or any other of our rail ways, to ash this Home to favourably! pom* aider them, sdtli a view of effecting a aaviog in the Colonial expenditure, as we , believe there is room forconsiderable reduction in the oo *t to the Colony of its present system of railway management; ' ■ i PSOVISION FOB EK CONSTBOO TION OF IrXNBB. White dealing with ,th* = question 1 of our ,owu, railways,: I am" compelled.,..to,..oal) the attention of tho House toa matter of.the most serious imponanoe.. • We have / been accustomed- to hear for tbelsst two or,three years of revenue derived from railways j but that revenue was simply the balance of .profit, after deducting the. cost of ordinary maintenance and working expenses from the gross receipts: - The: necessity of providing, for the renewal of the various lines—a .point in respect of which the fullest add [most careful provision has always been made in the . great railway system of the mother country—■ has in our case been entirety overlooked. It is'impossible to brer estimate ’the serious .significance, which this absolute, ppoepiity will have on our future fluanoe, With out system of light narrow gauge railways, the'question of renewal it much more important than itis at Homo, At. this. late. period of the session we cannot propose to ideal with the spatter, but it will form a'leading feature iu our public work* policy of next.y«»r. > Sir, I desire before I conclude to say a few words upon the .views of the : Government, as to the extent ofiho faitheVbPrrowinl powers to which we shell have to ask the Committee to assent.. It bss not been easy in the midst of the hurry of the with ,a|l the political and departmental business appertaining to offices on my bands, to meet yon with a statement df bur views on this subject tonight, Nor has it been lots difficult for my honourable oolleagues and myself to arrive at a determination as to the sum necessary to be borrowed to meet our present requirements. Sir, ib is our iotentiun to ask the House to consent to a loam' °f- £4,000,000, feeling assured that the whcile of this amount will be wanted. We propose. Sir, Ip vodeem the guaranteed debentures, to provide for our public works, for provincial liabilities "for other necessities of the year, and for all floating debts now due by the Colony.; But there is also the pillion due to thp two banks which we have not provided for here.' At present we have loans raised,.in London, loans raised in Sydney, loans raised in this Colony, and wo have the Treasury Bills .before referred, to: : The Qovernment . .it. desirable that this system should cease, and that there should be but one sort of funded oqlpnial indebtednesfi for this Colony, showing at a glance the entire debt: one‘Current. ‘Or working aeooant,ehowiog oar annual revenue and .expenditure unde? ?heir f sever»l principal liVads,.emd that the ; nura«ro a » small “- u d -.tlfjing accounts and balance*, pt'prwpt existing under tho public account, should be done away with, and that wo should, as far aa possible, have bat one creditor —I mean the

- TAXATION. , ,r . Wo shall, however, daring : the reoeii seriously addressourselves to the consideration of large reduotion in the public expenditure, which we have reasons forbelieving osn be carried out, and we will alio earnestly consider the question already discussed in this House of altering the present eyetem taxation in thie Colony, with the, ;yiew of more equally and fairly diatribiitiog its burden* upon the whole community. Should our laud receipt* keep uphp,l apprehend that it will not be necessary to attempt to raiia a larger revenue from the peopte-thah ii now drawn from them. But thoold that eonroe of revinne fall off, we must bs. propared to aubmit to heavier burdens to 'keep our obligation* to our creditor* and conduct the business of the* country. After the experience to be gained during the reoei*, we •hall be ina . batter position to offer an opinion on the subjectwhen Parliament iqeete next year. AOTUAI, TBBBENT POSITION OP BBOBIPTS ANB ■ . BXBBNDITiraB. . _ ’ • \ With this statement, I propose to lay before the House a table marked So. 1, showing the estimated revenue from all «ourofl», iooludipg land, and the expenditure for the present year based upon the state of thing* which the Government! ound in existence upon taking office. This document is worthy the attention of-the House. The estimated revenue appears £3,699,026; the expenditure £4,410,238. The'deficiency, therefore is £711,212. If the revenue, a* stated above, falls short of the estimated amount, as is not improbable, that deficiency will be proportionally increased.' I also lay before the House a table marked Hp. 2, showing without the land fund the estimated revenue and expenditure for the same period. This is a very important tableland from it will be gathered at a glance pur true financial position as we are at present conducting the business of the country. ■; It will be ’observed tint the present daily expenditure of the Colony is ia excess of its estimated; revenue, minus the land revenue, £1926. i I feel it ffly duty to call the attention of hon gentlemen to this state of things, and to ask for their earnest consideration of the subject.' ; ; coNOtusioN. ■ Sir,- —In making this Statement, Ido so with feelings of -great. diffidence.. Uy position here 1 is not of my own seeking, nor is the business I am how eugeged-in that towards which thy 'tastes" add inclinations would willingly have led me. So far as my humble abilities have served to guide me, I have cheerfully given my most earnest attention, with as much time as,had at tny disposal,tp the subject of our finance. My future aim will be to endeavour.to ermnge a system that may provestable, that will secure a state of equilibrium, between ohr revenue and our expenditure, that will be of a pharaotsr sufficiently fair not to. excite the cupidity of one .portion of ’the country, or the. envy of another, and as this House in its wisdom has and the

.London money market, The ■ practice of oonoealing. pwbapa ! unintentionally. the amount of tWColonial indebtcdneerby the leine of Twenty Bill*, end the railing of; temporary loan* in the Ooloniei».hM an effect even worie than impoiing directly on the Homeoreditor, Itenconrages the people of thii Oolony to fancy their liabilitiei to tie •mailer than they really, are, and to agitate for a greater expenditure than the Oolony oab afford.; Fuller detail* of thwe queitione will be given when the Loan Billie brought down."'

Colony at) large has agreed in that determination, -to try to bring tha whole of' ibis country, differing as it does: in common interests, in the manner of its colonisation and its topographical features under one united Government, So will it bo the object of my colleagues and myself. to assist m, the realisation of this effort by simplifying and regulating our too abundant ' partnership accounts,and introducing a'system of united finance, huitta , Government is impossible. . i .0 j Cables,bsfbsbbd.xo is foebsoisg stateMBNT. , ,i *" CASE BALANCES i

The Hon Hone Nahe haring been appointed a minister, Mr Qraoejnnrrhas been appointed interpreter to the Executive. The Hon Nabe’p eitting bn the Ministerial benches, not with the other Native representative*, neces* litatei another interpreter. < : tenon oub omt oobbbbfondbnt.) ’ 7.50 pm! Considerable comment has been earned this afternoon by Mr Sheehan, in Committee on the Land Bill, letting fall remarks' pointing to the conclusion that the Finaooial’Statement will propose to; make tbe Lahd; f and Colonial revenue. Thie proposal will probably 1 revolutionise parties. " j The Legislative Council has struck but clause 8 (the appropriation clause) from the Education Bill. The object of this is |to endeavour,: by conference with the Lower House, to' get the! capitation clauses of (he original Bill rested. ; "' i

At the close of bueinoss.on Saturday, Oof, 13, 1877, Cash in the Public Account— i l; :' la London ... ...• ... .... ... i £60,299 !8- 0 In the Colony ... 822,611 19 8 Total ' ... ... ... £762.312 11- 3 Consolidated Fund - .... 105.563 7 8 Special FundConsolidated Loan.£33,530 17 8 .' Defence and Other Purposes Loan 31,31219 1 Public Works Account ... 148,701 ; 2 9 Waiters Bridge Endowment Act 11 10 0 Wellington Debts AotEedemption 3,257 9 4 ■ Account ... North Otago District Public Works Loan ... ... 11.1681 8 10 ■ Westland Loan Act Bodemption ?95! 2 11 Account .... State Forest Account ... ... 2,226 13 3 Provincial Liabilities Account— - Auckland ... . Taranaki . , £61 5 6 . 9 IS 7 Wellington... 4.708 14 6 Hawke’sBay . ; 1.451 19 7 Nelson ... , 4,231 19 10 Marlborough . 8 10 7 Canterbury... , . 12,333 U 8 . . 1 Westland ... . 31315 3 ■ f 1 1 Otago. ... . 1110 11 22,408’1511 New Zealand Loan Act, 1876 8,901 11 11 Counties’ separate Account ... 19,163 7 10 Lend Knnd-i-Auqkland ... £1,574 12 4 Taranaki ... 834 1 1’ Wellington.,; 1,708 - 8 9 Hawke’s Boy ■ 5,729 0 11 j Nelson ■ ... 219 13 6 1 Marlborough 2 U 17 3. - ;■ ■■■■->-'■■ ( Canterbury... Westland; ... 493,025 8 8 510 0 6 f Otago;.-.* l ... 42,157 4 7 • • - Surveyor; Genera Office ‘ ... 65 4 11

Native Land Court* Account 614,513 U . 6 M Goldfields Revenue Account. . 1.297; 17 1 Gold Duty Account ... ... • ss 569 13 8 Trust-Fund ■ ... **• 47,802 3:16, Land Fund No. lAocount... 195 12 10 Uudistrii uted...- ••• 17 3. i6 Suspense account ■... ■ 95,458 8 1 Total 763,318 11 3 At oloaa of business on Friday. Not. 16,1877— ■ r:‘ Caehin’the public account ... • M* 207.776 8,7 la the.Colony ... ’ . , 437,896 ;7. 9 Total ' ... ... 1 230,120 4.1 Consolidated Fund ... : m. ' 85,664 14 * 1 Special Funds— Consolidated loan ... ... - 83.536 J7.. 8. Itefeaoe and other parposee loan 38,787 T 7 Putillo Worts account . Ve« ■: 239,681 19 3 - Waltara Bridge Endowment Act u 10-0 Wellington. Debt* Act Bedeinp3,257 9 4 tion Acoonnti ■ ••• ... North , Otago , District Public 7,539 3 11 ; Worts loan ■■ ... 1 ... • Westland Loon Act Redemption 95 8 10 account. ... . ...... :■... AS* State Forests account • •• 2,326 IS 8 . .New- Plymouth. Barbour ■ Board 1,688 9 6 . Endowment aot, 1874 ... , ••• Prorincial Liabilities Aooonnt— 6 Auckland . .... .... 68 15 Taranaki . .... ... 918 8 Wellington ... 2,877 _2 0 Hawke’s Bay ... 1,48118 3 ' ’I ! ,, Nelson ... • 8 6 ; y- VMarlborough ... 0 10 7 Canterbury ... 3,831 15 ■ 7 . Westland — ,17» 7 9 Otago ?..., ... 4,688 15 0 16.290 15,11 New Zealand Loan Act, 1878 ■** 8,91)1 11 11 Counties separate account ... . ss* <61,647 16" 9 .Land Fund— f r, .,, / Auckland ... ... 423 11 3 1 - ■. . ; Taranaki ’ ... ... 8,328 0 8 Wellington... ... 955 9 3 Hawke’S Bay ... 10 353 10 8 Nelson ... ... 210 IS 9 frV-M \ Marlborough ... 128 13 i Canterbury...' ... 261,127 9 0 0 Westland ... . ... 838 5 4 Otago 71.025 18 10 Sarfnyor General's office 187 11 5 312,318 9 3 Native Land Court account Goldfields revenue account 1,425 87 Gold duty account ... ... • .. 545 18 8 Lend Fund Mo 1 account ... SS* '208 8 2Trust Fund ... . 72,662 11 0 Bills receivable' - - - »*• 170,000 0 0 Undistributed . ... ...,, 87,830 8 7 Total ... ... 230,120 14 1 < TABLE Wo l; K ,* i '' ; f ESTIMATE OP KKTEmri! AMD EIPUNBITOBU M» 1 , CUaiBKT VIUAVC1AL TJBAR, ■ REVENUE. Surplus consolidated revenue,, ' June 80.1877 . 148,220 0 0 Consolidated revenue, ... .. 3,263,160 0 0 5 Gold revenue ■•It 72.000 0 0 Land Raxss— Balance June 30, _ 1877 115,646 0 0 ■’ Land soles our- . Q' & 1 ■ rent 1 • ,...1,110,000 O "Deficiency- •••'’ ,< ;■ ■ t(,4’i s>.4 4,410,258 SXPfiNDITXJBE. Consolidated (and 8,394,546 0 0 Gold revenue ... ... 72,000 0 0

JiAKBl’DSD— I NX-T fixed charges ... ... ... A6*3,aoeo 0 Amount distributable toooantles and bead Boards... ,... ... ‘633,663 0 0 BumiSUBNIABl ESTIMATES— Consolidated fnnd 113,910 0 0 load (and ... ... 88,778 0 0 151,685 0 0 Paovitfcut Iiabimties Estimate— Overdrafts to June 80, 1877-t... 106,269 0 0 -r Provincial llablll. i ties 554;785 0 0 ! ’ , - 601,034 0 0 Less balanoeof loon. June,30,1877 ... 45,?88 0 0 ■ ■■—— £615,136 0 .0 ; ,i ,/Tbtal \•; ' ' ..., .i, £4,410,238 0 0 TABLE NO, 3. Statememt Showiro Excess or Bxpekditube OVBB BEVBNOE— Estimated dally expenditure in excess of eatlmated revenue 1,936 0 0 f Tims: Expenditcbe— Consolidated Fund... ... .„ 3,394,646 0 0 Supplementary Estimates ... 111.910 0 0 Provincial liabilities 681,024 0 i° r . Total ... £3.168.480,. 0 0 , Dally rate ... . ... 8,668 o ;o ' ' BEVENtE. Consolidated (and 2,263,160 0 0 148,520 0 0 45,888 0 0 Total ... ... ... £2,457.268 0 0 Daily rate ... ... ... - 6,782 0 0 . ' . Daily deficiency , ■ „. £1,936 0 0 MEMOBANDUM* Otajo North District Public Work* Advances Account— .... Now due to Pabllo Works Advance Account , 54,791 0 0 SOME OF THE CHIEF ITEMS FOB WHICH LOAN IS BEQOIBED, Public works—Amount to be raised on aoconnt o( current year ... 1.461.447 0 s 0 Treasury bills to be converted ... 832,COO 0 0 Debt due to pabllo works aooonnt .by consolidated, fund, ... ... 300,000 0 0 Imperial guaranteed debentures to be redeemed ... ... ... 800,000 Provincial,liabilities ... 661,024 o; 0