BUDGET POINTS.

Otago Witness, Issue 2738, 5 September 1906, Page 14

BUDGET POINTS.

"It will-T>e the aim of the Governmanfe to show that sound finance ia, not iaconsistent wiiii p^ogreesiie legislation aad vigorous administration."

The gross public defct on the Sat March, last was £62,181,0*0— an increase of £2,279,040 for the year.

The increase in the net pxft^ic indebteoV cess was £2,266,839 for the year.

The net private wealth of the colony m estimated at £258,71Q,0Q0> and the Talue'ef the public property at £67,520,587.

The assets of the jeoJony are coneequently - set down at £386,250,387.

The total indebtednea of the State aad of local bodies in the colony is £71,215jf16&-

The balance of assets .over liabilities, ba this basis, is £2554)15,321.

Provision is to be made in future for the payment out «f the re»e»ue aeecwwt ol <ib« cost of repairs and additions to public buildings and for the mainte&ance of roads.

The eetusaated ecpemditure for 1806-7 is £7,575,972— an increase of £4*ay6B2.

The estimated revenue is •$ I IJBBB,1Q& op £2*7:64-1 in -excess of ac*ttal seoejptt for 1905-6. . Of the *urn of £7«9,1 t 9* to tbe credit ot-i: the revenue acooaast on the 31st March, 3t -■ is proposed. <to teamster £750,069 to tb»Public Work* Fund.

The estimated -balance at the cad of the is £328,623, less euch sums as may -be voted on the Supplementary Estimates.

Authority will be asked to raise a ioan of £1,000,000 for public works purposes, the money to be obtained locally.

It is proposed to create sinking fuqds to redeem unsemunerative loans.

A sinking fund is «4eo to be ere*ted tar the repa-yraeat of loans fox the ac^nisition of iland for eettlemente purpoees. It is further proposed ,to aay gdi fxem time to time tibe fS'OOjOOQ freaswry ftn^k outefaanding.

Ji is aatioipasbed ihsi tiae Nortib Wand Main Truajk raiLvwy .anil tibe foxjaaartioa works .of the Mitfj&md. j*ilw*y miii be finished by tbe end of 1968. "The Otago Cestoal iraikray will hare kl»een carxied to ±bje 'ppo&ent poiwt «*- st«(p- [ page ' by the gg/A <ef Maacb next."

It is ht»pod #hat I3ie nest fow yeats will see a greater iaape*u» m-ven te the «QH6truction of nib**?*, a»»d jt is Usw\»d -ihtd i3«> neoe»aary fawte »iB be «^CaajaWe swtiout Teeonrse .to the Lojadcm anjaey niactot.

" Some •pcactieai wheme shou!d ' be devised to «nasjje ilhcse «aask>yetf -on tbe railway -oasatßiuotkiß' wonks to secare itcaaiw far tnea»sei««s and *J»eir faistiiiee. iknr this punpmse jParlia«c«s* wil^ be Asked to " seat aside SQfIOO *c»e« of- laW «kmg tb*» North Island' M*ui Tjrurik line, the @iago- . Central, and- the Midland J«-oes. v which i^ie I^amde K)epß.rtment will survey and cut up into suitable areas. Astistasca will be given toward* -erecting aoitabla dwellings for (those settling on ibis la&d,"

All the ordinary Crown lands nosr unso^i or unkased are to be set a*ide, wjWi ithe* intention tbjtt the ppftceede fonsioi-' 1 thorn shall form part of *a» ea4«iemeirfc r ' 1 fond, to be ava^i#e solely lor fhe psspoaes of education, old-age peta&oaoti, and iib* j»air»t«nance of he^itab and charitaifc!« in3titota«n«. Impori-aot jurop«atl3 aje made in respect to the iettuve -of la«d abcady di^poseo of by t!he <3»o.wn.

The 899 years' 'lease is to be dkoojibioued, being replaced by a *6 years' 'lease, wi*ih provision for re-valuation at *he «nj of the term.

The holder /st tihe & ye»r«' Jeatfe mill -be permiited i*> par fl# tive capital vallue to 50 per cent, of ite ♦aiwpn*. *bo rent it^ng pr»portiottat«ly reduoed aixi all restrictions iwing remove*! w?ben W pe^ «em*. *©f t*® capital amount has been p«*3- MM <a^tai turns so paid wifi be wtf*n«e4 *t ,tb« ftai of the tterai, orlwi i lf*i m-itl be otfercd mitih v«lu«ti«n for i»Hpoor«a9ien±6.

Tbe bolelci-e of 906 ytx&t Seases, deluding blioee who liaWl wvder -the Ljmd <or >sf^tlemeot3 Acts svriU hat** *be' ojrtion ©f oenvertiag into mew ieaces ia* oxagaaal <or present vahios.

The hollers <c/ 989 yeaes* leases, afjher than these aflko hojd waiter 4&e %tua>t toe SettieoKsto Jktts, <w&l Itttw ti» ,-a<S*itkr«i* option of *t»raansteßiug 'tiMUJ; 'i*m*&, «J wfe&a ease li>e J*»4, $u»£e>aed with xalua&VKi :£or improvements, srjfia be «qJd bor puDdac cempetitian, find &ie* proceed* wffl he de*fase«t .to - the purchase of .iuture land for ,ao<*fetnents, A limit oi * «wpitaX apumpqmred jralue of ' £50;000 is proposed to be ptaeed on th» ♦mount of land that way be lawfully $£i<! x by any owner. Atceaadeavoex ia to be etuk *» pub N«*»»» aaniowtafiw i» a *ttsitk>n to <k»al wj€h HSueit thvnls or Ao ose then to the best advances. Varions tgyvoiteweirts «ml oaetows in t3ie ©oetaJ a»4 tek^carih «y«tei» ate pjv -po&ed. A uniform rate of postage upon letter* «f Id for each 4oz is to lie Sated. She ««&i» ir.ated annual value of it>hu .ceoqesaioc -to the public is £17,000, whicTi will, ieweser. be recouped to the Post Ogioe ia lar0» measure by bbc new class -of business tfc»t will arise.

The desirability of a JJeductJon- in -the inland parcel poet rates and in the commission on money orders is under oonsidenation. The initial weight of letters for trapsmission abroad ie to bo caked, asd the postal rates to countries that <k> not accept the penny letters is to be reduced.

The telegraph rates are to be reduced to a uniform charge of id per word, irrespective of the length of the message.

The Government is considering the expediency oi establishing a council, or board, in New Zealand for the control of defence matters, subject to the authority of the Minister of Defence.

Various proposals ere to be made for the management of the Volunteer systesoe. A special vote of £25,000 will be asked for the provision of telephones in the more remote parts of the country.

The whole of the Government departmental accounts are to be audited in future h\ the Audit Office.

The Government intends to establish * complete experimental dairy station and (jciiooi of utttructiojfe