THE FINANCES OF THE COLONY.

North Otago Times, Volume XXVIII, Issue 2468, 15 April 1880, Page 2

THE FINANCES OF THE COLONY.

(Wellington Post). The New Zo>iUnd financial year oxpirod on March 31, as under the nevr arrangement tnado last session the year, no far aa public Guanco is concerned, hogins on April 1 and ends on March 31. The year just ondod consequently comprised only nine months. It was estimated by the Colonial Treasurer in his Financial Statement that tho revenue would fall short of tho necessary nxpeti'lituro by Homo 1(800,000 for tho nine months. Judging, however, from tho roturn up to tho end of February it is almost certain that tho actual receipts qannot come up to within L 300.000 of tho estimate, a deftcioncy of nearly LIOO.OOO eaoh In tho Laud Fund and Railway Revenue alone being expected. This would in arouse, tho total deficit for tho nine months to L 1,100,000, 100,000 but for the reductions which have been effected in the public expenditure. It is hoped that fully Lloo,ooo will provo to have been saved in this way. There are fjood grounds for being thui sanguine, ns wo may briefly explain. Tho Colonial Treasurer, it will bo remembered, took authority from Parliament to issue dofloionoy bills to tho extent of LBOO,OOO, that boini? I^4ooo above tho defioit ho anticipated. Those, however, had all boon issqed and spent before tho end of February, and power then was taken by Order in Oounoil to Usuo L 250.000 more during tho ourront year should it bn neoessary. This power had to ha exercised only to the extent of L 200.000 before the oloso of the financial year. Tho plain oonolusions to which this fact points are— lst, That not far short of LlOO.OOO must have boon saved in the expenditure, because, othorwiso, the other L 50,000 would have boon required, nnd oven then there would have been L 50,000 short. 2nd, That the oxponditn.ro cannot have oxceoded tho inoomo by more than L 1,000,000, or indeed have quite reached that excess. Tho obvioun moral to be deduced is that rigid economy, both pub» lie and private, must bo resolutely exercised until tho times improve, if wo are to make both ends meet.