FINANCIAL HISTORY OF THE COLONY.

Temuka Leader, Issue 1775, 11 August 1888, Page 1

FINANCIAL HISTORY OF THE COLONY.

Wellington, Aujjiut 7. A vory important and valtiab'e paper was preserved to Pari ; am*nl to-day. lfc ia entitled "The Bthncc-ilieets of Ihi Colony, 1832 to 1888," and ia compiled by the Comptroller and Auditor-General, M. J. FilzGsraM. Ik object ia atmed hs being to tell in.a brief and inle'ligib'e foiio the financial bietory of New Z-aland, from its first settlement, and this id done with remarkable claaroess, considering the n°c-s----s.irily completed nature of the subj ct. The following are among the moot interea'insf pnin's brought ou:—"The expenditure of t,he New South Wales Government in New Zealand (which ihen was a dependency of the Australian co'ony) wm £IBB in 1832, increasing to £974 tlio next y«*r, receding ?o £589 in 1839 ; and in 1840, when New Zeahnd became » sepmue colony, the Government expandituie was £21,740, which doubled »<-xt year, but had fallen to £38,841 by 1815. Tlibd came constitutional Governments, and in 1853 the expenditure leaped up to £103,006. In 1802 it had reached a in llion, ia 18G6 two million?, and after the public work* p>licy h'd bien adopted the expenditure (ino'udmg public work*) rose in 1874 to £5,879.000, but ihen fell, until in 1830 to 1882 in was below five millions, lining «giin to £5,808,000 io 1886. Thisy«»r it his g"ne down h.lf a million, baing £5,343 ; 00tf. Another interesting cnmpuraoo is that of expe; dittire and ibat of taxation per head of population during successive quinquounial 'periods. The mte of ttxauon was highc-.t in the period 1865-9, when it was £4 6* 9.' per head. In the following quinquennium it fell to iL lowest point in ttiitty years, viz., £3 18*. In the nex' it mounted up again to £4 59J, and has ever ria :;e beon aiea'iily falling, be'ng £4 3i 61 for 18S0-84, and £4 2s 7d for the la3tthr.se yeais. Thepiymeut of in.ereat and sinking fund on debts ha 3, however, ri»en from 3s 81 per heid in 1855-9, and £1 18* 2d iu 1870-4, to £2 15s (iA at rhe present d;ty. The cost of the Legislature, on th« other hand, decreased from 2s 81 per head in 1855-9 to Is 31 in 1865-9, and then ro e gradually to Is 91 in 1880-34,'at which point it still'remains.' The expense of the Civil Service has steadily r sen ft'"-m 13s lOd per he ,d of population in 18o'0-4 to 19< 8d at tbe present d ty. Too tom« expenditure of *ho Government io.e b. leaps and 1> Hinds from £(} 8-31 \vr he».: in 1855-9 u* £l3 h* d m 1875 9, men dt;cre."ud to £'.)l.s SI in itie l.«si A.Vinson pdciod, the Si.-. 1 -V.»»-l period, 1885-7, i.> £'J 103 I p>?r head of \> ) : Milati"H.