THE FINANCIAL STATEMENT.

Wellington Independent, Volume XVI, Issue 1615, 6 September 1861, Page 4

THE FINANCIAL STATEMENT.

(From the New Zealander.) In the House of Representatives, on the 23rd July, the Colonial Treasurer produced his budget. The short time allowed for preparation since his accession to office beiug considered, the' financial statement of Mr. Wood showed that he had applied himself to the task of unravelling the intricacies of our colonial financies with great industry; his exposition, which was clear, practical, and thoroughly business-like , was heard throughout with attention ; at its close he received a merited compliment from Mr. W. O. Richmond, his predecessor in office.

Dividing the information he was about to, communicate into two purts, that which referred to the past and that which related to the future, the Colonial Treasurer showed that the ordinary revenue of the Colony for the year 1860-1, which ended on the 30lh June, ultimo might be estimated at £228,856 ; the expen diture was thus distributed : — Civil List £19,000 Permanent Charges ... 25,000 Appropriations 96,574 f tbs to Provinces ...... 76,875 Available to meet supplementary expenditure 11,407 £228,856 As the accounts from tbe Provinces to the close of the financial year could not yet have been received at. the Treasury, the foregoing will be found to be, however, nearly correct when the recount is finally made up. Tbe Estimate of the Customs Revenue for the past year which was considerably in advance of that year immediately preceding, was £193,000 ; the actual receipt would be £205,000, being an increase of 15£ per cent. The Post Office receipts estimated at £11,000 had produced £11,504. The Judicial revenue from fees and lines had not been so productive as -was anticipated, and the receipt of Crown Lund fees had also lallen short of the estimate.

A. sum of £10,750 10s., being the balance of the two first divisions of the £500,000 loan, and a surplus of £8133 9s. Id., which was at the credit of the suspense account, have been applied to tbe discharge of the debt due to the Province of Auckland on the account of Government House, and to the payment of Scott's debentures — learing at charge £1455 17s. su.

Of the thiid division of the half-million loan, that apportioned for the extinction of the native title to land in the Northern Island, £90,000 are still available, £50,000 of which have not, as yet been raised. In the Province of Auckland, £37,506 17s. sd. have been expended up to the present time: in Wellington, £48,225 10s. sd; and in Taranaki, £3312 Os. lOd.

The sixths of Lund Revenue paid by, the Prorinces of the Northern I.»land amount to £30,139 Is. 6d. Of this sum, £10,267 1 Is. 3d. are deposited at interest with the Union Bank ; £8,400 have been lent to the Pioviuce of Hawke's Bay; and £11,471 19s. 3d. not invested. Upon this latter fact, the hon. geu* leman commented with just severity. Thvce thousand pounds have been already expended, without any authority, upon the " Bay of Islands' Settlement." Of the War Loan of £150,000, authorised in last, session, about v £2O,OPO only now remains available. TUe claim already preferred on

behalf of the Impeiial Government, for advances made by the Commissariat, on account of the war expenses, amounts to £120,351 os. 7d, The items are as follows : — Militia charges from January Ist to March 31st, 1861 ... £15,192 6 11 Sundry claims for clothing, &g ,to Dec. 31st, 1860 53,183 1 4 Demand of £5 per head for troops in New Zealand, from April Ist, 1858, to March 31st, 1861 25,868 15 0 Demand on account of Stores supplied October, 1860 2,856 17 4 Estimated demand on account Militia to June 30th, 1861 10,000 0 o Estimated demand of £5 per head for troops to same date 6,250 0 0 Banacks at New Plymouth ... 7000 0 0 Against this claim there is a positive set-off aboiTt JSBOOO only. "Of figures and balances and accounts of all kinds," said tbe Treasurer, " there is no end ; to set against them we have at present nothing." The hon. member then entered upon a statement of the estimated revenue and expen diture for the year 1861-2, and iv the couise of his observations on the items of pensions, paid a graceful t aud well merited tribute to the i memory of the late Dr. Sinclair. It is not intended to ask for any immediate provision for the war expenses. The necessary adrances, upon terms understood, will be accepted from the Commissariat, and when peace is restored and the whole of the liability can be ascertained— when it is knowu how much the colony will actually be required to pay, a guaranteed loan at 4 per cent, with a sinking fund may be obtained, so as that the payment of the charge shall be distributed over a period of twenty or *thirly years, and thus made to press as lightly as possible upon the people.