FINANCIAL STATEMENT BY THE HON. THE COLONIAL TREASURER.

Appendix to the Journals of the House of Representatives, 1870 Session I, B-02

B.—No. %

FINANCIAL STATEMENT BY THE HON. THE COLONIAL TREASURER.

IN COMMITTEE OE THE WHOLE HOUSE 28th JUNE, 1870.

WELLINGTON.

1870.

B.—No 2

FINANCIAL STATEMENT.

the Honorable Jumus Vogel, 28th June, 1870.

Mr. Cakleton, — I shall have to ask honorable Members to give me their attention upon so many subjects, that I will not detain them with unnecessary introductory remarks. Ido not doubt the Committee will extend to me unusual indulgence, because to meet the wish which the House has expressed on previous occasions, I am making the Financial Statement at a period of the year early beyond all precedent. Indeed, I have to endeavour to explain the results of a year which has not yet expired. I have to estimate both receipts and expenditure for the last quarter. Honorable Members will see that not only does this entail an unusual amount of labour, but it also makes more difficult, because more conjectural, the provision to be made for the ensuing year. It is reasonable to remind the Committee that this early Statement is the first effort of the kind, and that I ask for indulgence in no idle spirit. THE MEASTTEES OE LAST YEAR The financial measures of last session have answered their purpose. The Assembly will in future be able to ascertain the actual expenditure and liabilities within the year, and to compare them Avith the provision made by law for such purposes. Each year will be distinct, and have its own history. The curtailment of the Advance system enabled £232,970 to be brought to account at the end of last year, which otherwise would have appeared as a charge against the present year. It has likewise had the effect of restoring, to a corresponding extent, to the respective funds, the balances appearing in the accounts to their credit, and so making the cash balances correspond with those shown in the accounts. The Annuities and Life Insurance Act has been brought into operation. It promises to be very successful, and I propose to introduce some measures for extending it and for increasing its usefulness. DEBENTTTBES AND TEEASTJEY BILLS. I am pleased to be able to congratulate you on the satisfactory condition of the credit of the Colony. The policy adopted last Session, of refraining from making further demands on the home market, has enabled the large amount of debentures previously negotiated, which still remained in the hands of first purchasers, to pass into the hands of permanent investors. The securities which were authorized last year have been negotiated very successfully, considering the manner in which the Colonial money market has continued to harden. By taking advantage of the large wealth of a neighbouring Colony, we have avoided that tendency to pressure upon industrial enterprise, which more or less follows the too large absorption of local funds by the Government of a Colony. Return A, which I propose to lay on the Table, exhibits in a compact form the liabilities of the Colony, General and Provincial. It shows, too, that the operation of the Sinking Fund has resulted in accumulating a considerable amount in aid of the discharge of those liabilities. The debt on Colonial Account amounts to £4,347,866; the Sinking Fund accrued to the 31st December, 1869, amounted to £132,752; leaving a total indebtedness, after deducting the latter sum, of £4,215,114. Of the amount stated, £528,000 is represented by Treasury Bills, due as follows :—- -£228,000 on the 30th September next; £150,000 on the 30th September, 1871; £150,000 on the Ist November, 1874. There is power to renew the £228,000 due in September next, to the Ist November, 1874. I have made arrangements which will enable me to do this in

Statement made before Knanoial Year haa ended.

Advantages gained by last year's financial measures.

Colonial credit satisfactory. Securities authorized last year favourably negotiated.

Colonial debt, £4,215,114,

Including Treasury Bills. Amount to be renewed and mode of renewal.

B.—No. 2.

4

FINANCIAL STATEMENT.

regard to such of the bills as it may not be desirable to pay off. The £228,000 includes £28,000 of bills which were issued as a charge upon moneys to arise under the New Zealand Settlements Act. I propose to redeem such portion of the bills as the balance to the credit of the account will discharge; and in regard to the whole amount of £28,000, I believe you may rely that the accruing provision will be sufficient to meet it. The £150,000 due in 1871, I propose to take power to renew to the same date as the other bills, the Ist November, 1874. The floating debt will therefore exercise no immediate pressure. In the interval, there will be ample time to decide whether it should continue a floating debt—■ involving, as far as the investment of Trust Funds is concerned, but a trifling cost to the Colony —or whether the whole or any part of it should be paid off, or be added to the permanent debt. LAST YEAR'S ACCOUNTS. It will be remembered that the Statement was made last year before the accounts were fully compiled. I claim for the officers of the Treasury much credit that the actual results assimilated closely to those which their industry and ability enabled me to put before you. The Returns were sufficiently correct to make it unnecessary for me to refer to them, excepting to say that I wish once more to repudiate the impression which was entertained by some last year, that I desired to reflect unfavourably on my predecessors. It was alleged that, through a not sufficiently close connection between the remarks referring to the expenditure and the context, a misconception as to the nature of the unauthorized expenditure was created. I desire to say now, that for the large apparent excessive expenditure arising out of the Advance system, the system was to blame and not those who administered it. For the rest, I propose to subject the expenditure of the present year to the same rigid analysis that I endeavoured to apply to that of last year; and I willingly admit that, in both cases, the same feature of unauthorized expenditure is apparent. lam glad to think that the law makes necessary now what last year was not necessary, the computation of the liabilities as a portion of the expenditure ; and I desire to add, once for all, as applicable to the whole of the Statement I am about to make, that it will be my earnest endeavour to apply to the proceedings of the year as hard and stern a criticism as any impartial person not responsible for those proceedings might apply. I beg honorable Members to divest their minds of the impression that I am about to endeavour to state a favourable case; lam not sure that to some extent I shall not rather incline to harshness than to leniency. I shall try, at all events, to tell honorable Members the worst rather than the best. The greatest difficulty last year was to estimate correctly the expenditure, together with the liabilities for services rendered previous to the end of the year, and for engagements entered into. An estimate was made, and votes to satisfy it were taken. The total votes for liabilities and engagements amounted to £172,734 ss. 3d.; the actual expenditure, including payments yet to be made on their account, amounts to £183,224 18s. 6d., showing an excess of £10,490 13s. 3d. In the Return marked B, which I propose to lay on the Table, honorable Members Avill see the particulars of savings and excesses. When estimating last year the amounts to be paid, I said it was unnecessary to take into account the sums due for Provincial Services or to the Provinces, as those would come out of the ProAdncial half of the revenue. This would have been correct, if it were desirable to make the payments for Provincial Services and the money due to the Provinces on account of the Financial Year 1868-69, charges upon the Year 1869-70 ; but to have done so would have involved an infringement of the principle of making each year liable for its own expenses. Had the amounts due at the end of last year been charged to this year, we should have had to charge the amounts due for the same purposes at the end of this year on to the next year. But as I include the sum due to the end of June, including the payments to be made to the Provinces in July on June Account, in the liabilities of the present year, it follows that the liabilities of last year must be charged against the assets of last year, or you would have the anomaly of thirteen monthly payments being made on Provincial Account and to the Provinces, out of twelve months' revenue. In the figures just given, I have

Votes and expenditure for liabilities and engagements.

B.—No. 2.

included on their respective sides the estimates and payments for Provincial Services; I have only, therefore, to add the amounts paid to the Provinces for June last, £12,496 10s. 4d., which will increase the excess of payments over estimate to £22,987 3s. 7d. I now come to the Assets. One item of assets on which I counted in my Statement last year, I explained to the Committee in a Supplementary Statement would not be available : I allude to the £12,000 supposed to be in the Home Agents' hands. I mention this lest honorable Members who refer back to last year's Statement, and not to the supplementary one, should think that lam overlooking the item. I may also mention that the item £6,000, Renewal of Treasury Bills, which in my last Statement'appeared as an estimate and an asset, appears in the Return lam now discussing only as an estimate. The expenditure does not appear, because there was no real expenditure. The transaction was simply a renewal of the bills, and the entries, debtor and creditor, will be found in the account of the Special Fund, to which the liability belongs, as the bills were part of the £28,000 issued as a charge against the New Zealand Settlements Act, to which I have already referred. Another asset was £103,167 17s. 3d., which I stated stood to the credit of the Consolidated and Special Funds together, and which I was informed would be available. When the accounts came to be made up, it was found that there was a debit against the Consolidated Fund of a small amount; the whole balance was to the credit of Special Fund. I have secured the transfer of £103,200 2s. 9d. from the Special to the Consolidated Fund, which, after deducting the debit to the Consolidated Fund, £1,015 lls. 3d., leaves £102,184 11s. 6d. at the commencement of the year to meet engagements and liabilities. It is not necessary to enter into explanation of the other items. I will group them in a comparative form, including both liabilities and assets, estimated and actual: — Assets. Estimated. Actual. £ s. d. £ s. d. Bank Balance Available ... ... ... 103,167 17 3 ... 102,184 11 6 Treasury Bills Renewable ... ... ... 6,000 0 0 ... ... Credited to Special Fund. Old Treasury Bills Issuable ... ... 11,000 0 0 ... 11,350 0 0 Imperial Government ... ... ... 800 0 0 ... ... Credited in Advance Account. Treasury Bills ... ... ... ... 150,000 0 0 ... 150,000 0 0 Receipts to Credit of Votes ... ... ... ... 8,468 3 3 270,967 17 3 ... 272,002 14 9 Excess of Actual Assets ... £1,034 17 6 Liabilities. Liabilities and Engagements, 1868-9 ... 172,734 5 3 ... 183,224 18 6 Revenue Payable to Provinces, —June ... ... ... 12,496 10 4 172,734 5 3 ... 195,721 810 Excess of Actual Liabilities £22,987 3 7 Balance of Assets after providing for Liabilities ... ... £76,281 511 It will be seen, then, that on the estimated expenditure there was an excess of £22,987 Bs. 7d., and on the estimated assets an excess of £1,034 17s. 6d. To meet payments of £195,721 Bs. 10d., there were assets amounting to £272,002 14s. 9d., showing a surplus of £76,281 ss. lid. I have not yet referred, to the £60,000 overdraft. This I justly estimated as a liability, and proposed to pay it off out of the assets. I have not done so. Although there has been no pressure on the Treasury, it has been on the whole more convenient not to pay off the money. Indeed, there are reasons why it is unnecessary to do so. Although it is called an overdraft, it must be remembered that it bears no interest as long as the money to the credit of the Public Account from all sources is sufficient to cover it. The overdraft, if such it can be called, serves as a convenient adjustment for an anomaly arising out of the scattered manner in which the revenue is collected. The apparent and available revenue is always less than the real revenue. For instance, according to the Accounts, there was in the Bank on the 31st March, £87,955 4s. 2d., to the credit of the Consolidated Account; but this was not the amount really available, for a great deal of it was contained in the different 2

Assets, estimated and ascertained.

Recapitulation.

Overdraft, £60,000— why not paid off.

5

FINANCIAL STATEMENT.

B.—No. 2.

branches of the Bank all over the country. Immediately after the end of the month, payments have to be made before the balances arrive from different parts of the Colony, and at the beginning of the quarter the Interest and Sinking Fund on the Public Debt have to be remitted to London. The remittances during April completed the four quarterly remittances for the year, and in July a remittance will have to be made on account of the first quarter of the new financial year. This anticipates the revenue of the quarter, and thus reduces the balances. I have already said there is no interest payable on account of the overdraft as long, which is always the case, as the total balances to the credit of the various funds equal the nominal overdraft. In short, the term is an unfortunate one : the arrangement enables the Revenue returns to be conveniently equalized, and I have not thought it necessary to pay the amount off. The balance, therefore, is exclusive of the £60,000 which it was intended to pay off. We have, then, after the sale of the £150,000 of Treasury Bills authorized to meet the engagements of last year, and leaving the £60,000 overdraft still unpaid, a surplus, after satisfying liabilities and engagements, of £76,281 ss. lid. SPECIAL LAND AND TBUST FUNDS. Statements lettered B 1, 2, and 3, show the positions of the Special Land and Trust Funds on the 31st March. Statement B 4 exhibits, in a condensed t form, the Consolidated Loan Act Account. I need not detain you with any remarks concerning the Land Fund Account, nor need I refer to the Trust Fund Account further than to say that its condition is satisfactory. The balance to the credit of the Post Office Savings Banks Account is a pleasing testimony to the frugal habits of the people. The Special Fund Account demands a larger reference, for its position has been, and, to some extent, still is, a source of much embarrassment. I think it was a mistake, when the new system was commenced under the Public Revenues Act, that the attempt was made to incorporate into the Special Fund Account a number of old unsatisfied balances which had been running on for several years. You may keep together a number of separate accounts in one Bank, without difficulty, so long as you take care that the cash balance represents the aggregate amount that should stand to the credit of the accounts; but when from time to time that aggregate amount is lessened, you are infallibly landed in the dilemma of a deficiency extending over the whole accounts, with an uncertainty to which account or accounts the deficiency should apply. I propose, with one exception, to completely remove these Accounts from the Special Fund. Four of the old balances, as you will observe by a foot-note attached to the Statement B 1, have, since the 31st March, been cleared off. The transactions under the Gold Fields Account and the Gold Duty Account will in future be passed through the Land Fund Account. This will be according to law, excepting as regards Westland, and, if necessary, a measure will be brought down to legalize it in respect to that County. The New Zealand Settlements Act Account I propose to keep in the Special Fund until the receipts under it enable me to pay off the £28,000 of Treasury Bills which were made a charge upon it. There is already, as I have previously mentioned, a considerable balance to the credit of that Account. We have then left a nominal balance to the credit of the Loan of 1856, and there will be a similar balance to the credit of the Loan of 1867. These two balances are actually represented, partly by cash partly by advances, such as those on account of the Loan Allocation Repeal Act, the Auckland Reserves Act, and the Bay of Islands Settlements Act. We propose to take authority to absolutely close these Loan Accounts, and to carry to Revenue whatever balances are from time to time recovered. Exclusive of the £35,000 under the Loan Allocation Repeal Act, I estimate that I shall be able to pass a further sum of about £25,000 to the Consolidated Revenue; and I repeat, so that there should be no misunderstanding, these two accounts will be exclusive of the balance at the credit of the New Zealand Settlements Act. I do not wish you to think that I consider the Special Fund Account has not its uses; on the contrary, it is part of my proposal to place that account

Interest payable on overdraft.

Land Fund and Trusi Fund, Post Office Savings Bank, and Consolidated Loan Accounts. Special Fund—its complicated condition.

Modifications proposed, to clear away old balances.

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FINANCIAL STATEMENT.

B.—No. 2.

in an efficient condition. When all these old balances are removed, the account will be properly available for future action. I think that all moneys borrowed for specific purposes should be paid into the Special Fund Account; and I would go further than has hitherto been done. I woiild return to the practice of keeping a separate banking account for the Special Fund, and a separate Paymaster's account. You are aware that when the Public Revenues Act was brought into operation, a separate banking account was kept for each of the four different funds. The practice was not found to answer, and in the next Session it was altered. It seems to me that the weak point of the practice was, that although there were four banking accounts, so far as the Comptroller was concerned, there was only one such account for the Paymaster. As long as the separation does not apply to the absolute disbursement of the money, no object is served by keeping separate banking accounts; but if a separate account is kept for the Paymaster, and also for the fund itself from Avhich the Comptroller makes his issues, you will absolutely put a stop to that application of Special Fund moneys to revenue which has partly led to many of the difficulties in adjusting the accounts, and which now makes the Special Fund so complicated a one to deal with. THE CURRENT TEAR. I have now to tarn to the year which in these Statements is usually termed the past year, but which on this occasion is the current year. The financial year expires at the end of this month. But to have based the Statement on the actual results to the end of the year would have required a delay of at least two months to enable the accounts to be made up. I propose to give you approximate results for so much of the year as was not concluded on the 31st March. These results will, I think, be near enough to enable you to arrive at sufficiently close conclusions upon all the subjects to which they relate, with which you will have to deal. The estimate of the expenditure necessary to be made after the 31st March is somewhat complicated, because the expenditure is of two classes—one which is and one which is not divided equally over the year. Each vote has been separately considered. The Return B, to which I have already referred in connection with liabilities, will give honorable Members an idea of the onerous work this early Statement involves. The Return gives the actual expenditure up to the end of March—it gives, also, the estimated expenditure from the Ist of April to the 30th June, including all liabilities on account of the year's service. You will observe that the amount payable from the Ist of April appears very much out of proportion to the amount paid during the previous portion of the year —more so than would be accounted for by the fact, that up to the Ist of April there was, in most cases, only eight months' expenditure. The reason why the amount is so much larger than it would appear likely to be, is because it contains a very considerable amount of advances (including those for payment of interest and sinking fund) not brought to account, but which will be brought to account before ■ the end of the year. It also contains other items of exceptional expenditure, which are not divided over the year, but for which liabilities are contracted, and which will have to be expended. I have already referred to that part of the return which concerns the liabilities and engagements for 1868-9. What we have now to deal with is the expenditure on account of the current year. Exclusive of the redemption of Treasury Bills, which we need not take into consideration, the total expenditure on account of the current year is £1,360,454 Is. lOd. This amount includes the expenditure on account of the General Government, and also that on account of the Provincial moiety. It includes the whole of the payments on account of the Provincial moiety —the payments actually made to the Provinces up to date, and those which have to be made to complete the year. Seeing that the Provinces are entitled to one-half of the revenue, and that the payments made to the Provinces, together with the payments made on their account, exactly balance the amount to which they are entitled, we may put out of consideration the Provincial portion as a whole, and proceed to the consideration of the ex-

What moneys should be paid into the Account.

Results, to what extent approximate.

Provincial moiety.

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FINANCIAL STATEMENT.

B.—No. 2.

penditure of the General Government moiety. I shall have occasion to separately refer to an over-payment made to the Province of Southland. In using the term " moiety," and in saying that the Provinces are entitled to one-half of the revenue, I have not been quite exact. Stated exactly, the Provinces are entitled to one-half the revenue collected within the Provinces : for there is a class of revenue, such as Interest on Trust Funds and Sales of Stores —not amounting to much —which is strictly General Government revenue, and which is not divided amongst the Provinces. With this explanation, I will proceed to analyze the expenditure on General Government account. The total expenditure on account of the General Government will be £823,236 11s. Id., against a total estimate of £737,128 10s. 9d. There are savings on various votes, which are estimated to amount to £12,761 lls. 6d.; excesses on other votes, which are estimated to amount to £74,512 Is. 6d.; leaving a balance of expenditure over votes of £61,750 10s. Table E gives the expenditure in the aggregate to the 31st March; but if you care to analyze the separate votes, you will be able to do so, as each vote is carried out separately, and the respective saving or excess is stated opposite to each in Return B. In a sejmrate Statement, C, a list is given of the items of Unauthorized Expenditure on services not provided for, which, in the Return B, we are now considering, appears as an aggregate of £19,853 19s. sd. There is also a list of the Unauthorized Expenditure in excess of the several votes. I have not thought it advisable to exercise the power which the Public Revenues Act confers, to make transfers from vote to vote to cover excesses, preferring that the House should see how they have arisen. One item of excess can hardly be called unauthorized expenditure, however, since it comes under an Act of the Assembly, by which the Governor is empowered, by an Order in Council, to sanction an excess to the amount of £40,000. A few days before the meeting of the Assembly, it was found necessary to issue that special order; and that brings me to the consideration of the question of Defence Expenditure. Had it not been for the alteration of the system of accounting which was sanctioned by the House last Session, by which advances have to be brought to account and all liabilities estimated, I might easily have met the House this Session with a statement that there had been a considerable saving upon the vote for Defence purposes. You will observe that, up to the 31st March, there was only an expenditure of £115,757 lls. Bd. for Defence purposes. Did we not bring to account the advances at the end of the year, and also estimate for the liabilities, the Defence expenditure would appear to be considerably within the votes of last Session. Including liabilities up to the end of the year, the expenditure for Defence services, which we estimated at £230,799 for Provincial and General services, will, I believe, amount to £273,361. Table D will afford honorable Members information concerning the Defence expenditure. I must, however, say that since that table has been prepared, the Defence liabilities indicate an increase on the estimate; and I should not be surprised if, when all payments are' made, there is found to be another £10,000 required. In the figures I have mentioned, I have not taken into account the recoveries under the head of " Credit to Votes," which, if taken into account, would reduce the excess of expenditure by a considerable sum. Honorable Members will no doubt recollect that, early in the last Session, some Resolutions were brought down by the Government, expressive of the opinion that the expenditure upon Colonial forces, exclusive of ordinary charges for Militia and Volunteers, within the year, should not exceed £150,000. lam free to confess that, as far as the Government were concerned, those Resolutions were a mistake —that is to say, the Government, in a self-sacrificing and unselfish manner, needlessly imposed restrictions upon itself. But the Resolutions were brought down in perfect sincerity : they were brought down at a time when there was almost a panic with respect to the then large Defence expenditure —when an idea prevailed throughout the House and the country, that a very large amount would be required to be expended upon Defence purposes, and that recourse to a very large loan would be necessary. The Government, in bringing down those Resolutions, did not, perhaps, sufficiently bear in mind the

Savings and excesses of Expenditure.

Unauthorized Expenditure.

Special Order.

Advance system, as affecting apparent Defence Expenditure.

Defence Expenditure,

Last year's resolutions concerning it.

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FINANCIAL STATEMENT.

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difficulty of making sudden reductions in large current expenditure. Before the end of the Session, we felt it necessary to admit that sufficient allowance had not been made for the difficulty of suddenly cutting down such an expenditure; and we asked the House either to submit to being called together before the usual time, or to increase the £150,000 by a vote of £50,000. The vote was given upon the understanding — which I admit was perfectly clear —that if the £200,000 should be found to be insufficient, the Government would not incur a larger expenditure, but would call the House together. Now, Sir, in addition to the £200,000, we have, as I have stated, acted upon the right conferred by Act of the Assembly to incur an expenditure of £40,000 under a special Order in Council. If lam asked whether, although it was perfectly legal for us to incur this extra expenditure, our doing so was not, in spirit, a breach of faith with the House, I reply that, as soon as the Government became aware that there was a probability, I might almost say possibility, of an excess in the expenditure for Defence purposes, arrangements were made for calling the House together, and the meeting took place at the earliest moment at which it was found the Assembly could bo convened. It is only right I should add to what I have just stated, and as something fairly to be set on the other side, that honorable Members now know, as far as we are able to estimate it, what has been the whole expenditure for the year, and what, with the reservation already made, will have to be paid for the year, including all liabilities. I ought not to omit to remind you that the Colony has not been called on to make any payment for the detention of the troops ; so that whatever amount it was supposed would be charged for that purpose has been saved. The items of Expenditure for Wanganui Bridge, and Advances to Patea: Settlers, are both really loans. Under the head of " Unauthorized," appears £8,130 advanced for necessary purposes to the Provincial Government of Southland; besides which there will be owing by that Province about £15,285 for payments made in excess of its share of the Provincial moiety of the revenue. The item for Roads in the North Island, I shall have occasion to speak of presently. I will now say merely, that the proposal which, before I conclude, I shall submit to you in reference to dealing with the question of constructing roads in the North Island, will include the amount of £25,000, charged to the current year, and which appears under the head of " Unapportioned." REVENUE OF THE PAST YEAR, AND COMPARISON WITH EXPENDITURE. I will now turn to the question of the Revenue of the past year; and we can ] proceed to compare the Revenue with the Expenditure, and ascertain how the £ account will stand at the end of the present year. I will state the actual as compared with the estimated Revenue —even what I call actual is to some extent estimated, for the last month of the year has not yet expired. But the amounts may be accepted as nearly correct: — Estimated. Actual £ s. d. £ s. d. Customs ... ... ... ... ... ... 816,000 0 0 ... 816,150 19 4 Bonded Warehouses ... ... ... ... ... 5,000 0 0 ... 4,722 11 8 Stamps ... ... ... ... ... ... 66,000 0 0 ... 65,008 1G 4 Tost Office ... ... ... ... ... ... 48,000 0 0 ... 47,433 1 6 Telegraph ... ... ... ... ... ... 25,000 0 0 ... 17,443 12 10 Miscellaneous ... ... ... ... .., ... 72,000 0 0 ... 83,714 0 8 Sinking Fnnd released ... ... ... ... ... 40,000 0 0 ... 31,061 0 0 Treasury Bills ... ... ... ... ... 150,000 0 0 ... 150,000 0 0 Total ... ... ... ... 1,222,000 0 0 ... 1,215,534 2 4 Sale of Steamers, &c. ... ... ... ... ... ... ... 9,000 0 0 Credits to Votes —exclusive of those already brought to account as Assets ... ... ... ... ... ... ... ... 11,581 10 7 Transfers ditto, ditto ... ... ... ... ... ... ... 12465 13 9 £1,248,581 6 8 It is not necessary for me to detain you by giving details of these amounts; you will find them elaborated in Statements E, G, and H. The revenue from Customs, Post Office, Bonded Warehouses, and Stamps, comes out very closely as estimated. 3

Recoverable items of Expenditure,

Revenue—Estimated and ActuaL

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FINANCIAL STATEMENT.

B.—No. 2.

The deficiency tinder the head Telegraphic, is partly to be accounted for by a change in the rates of charge, and partly by the fact of the non-completion of the line to the Thames. I refer you also to Statements H, Ito9, in continuation of those presented last Session, and which, I have no doubt, you will find very interesting, as exemplifying the trade of the Colony. "We have, then, as you will gather, a total of receipts amounting to £1,248,581 6s. Bd. on account of .. the year, to which has to be added the surplus of £76,281 ss. lid., making together £1,324,862 12s. 7d. The expenditure for the year, including all liabilities for the year, will be—General, £823,236 11s. Id.; Provincial, £537,217 10s. 9d.; making a total of £1,360,454 Is. 10d., and showing a deficiency of £35,591 9s. 3d. I will ask you, however, to recollect that, as against this apparent deficiency, the expenditure includes the items to which I have already referred : —Two sums due by Southland, of £15,285 13s. 3d. and £8,130 6s. 5d.; paid on account of Roads in the North Island, £25,000 ; Advances to Patea Settlers, £10,000; "Wanganui Bridge, £15,000. I shall have occasion to speak of these items when lam dealing with the question of Ways and Means for the present year. I. Very great pains have been taken to verify the result as to income and expenditure which I have already stated; and I think it will interest and satisfy you, if I add that, by a totally different process, exactly the same result is arrived at. In Statement 13, which has been so often referred to, you will observe that the amount which it is estimated will have to be expended from March 31st to the end of the year, for the year's services, is £796,583 17s. 9d. You will readily see that if I take the liabilities of that particular period of the year, estimate the ways and means Avhich we have to meet them, and bring out exactly the same result as I have already stated, the accounts are verified in a remarkable manner. Ido not expect that you will at all realize the labour which has resulted in putting into a comparatively simple form the results of the investigations which have been instituted: I say, "comparatively simple," because it avouH be a mistake to suppose that figures or accounts can ever be reduced to so simple a form that they may be understood without some little trouble. In the account I have already given you, I have not taken the assets in the order of their receipt: on the contrary, some of those assets have yet to be realized. The calculations which I am now about to give you consist, on the one hand, of the amounts to be paid after the 31st March; and, ,on the other hand, of the assets available between that date and the end of the year. The assets are —Cash at the Bank on 31st March, £87,955 4s. 2d.; anticipated Receipts for the June quarter, as shown in Statement H, £348,043 9s. 4d.; making together a total of cash, £435,998 13s. 6d.; Advances in the hands of Paymasters arid others, including amounts remitted for payment of Interest and Sinking Eund not brought to account on the 31st March, £324,993 15s. : or a total amount of £760,992 Bs. 6d. Deduct these "Ways and Means from the payments to be made, which, as already stated, amount to £796,583 17s. 9d., and which you will find detailed in the column headed "Estimated Expenditure to 30th June," including all liabilities to that date, in Statement B, and you will have a deficiency of £35,591 9s. 3d., or precisely the amount at which we arrived by taking the assets of last year and the liabilities for that year, the whole of the present year's expenditure and the whole of its receipts. I have frequently heard it said that we are borrowing money in order to pay the interest on our debts; that our revenue is not in proportion to our expenditure ; that, in fact, we are not raising, as from the people of the Colony, sufficient money to pay our ordinary charges. If such were the case, very serious considerations would arise as to whether it was not desirable, or, I might almost say, necessary, that we should increase our taxation. I have, however, felt it to be my duty to look very closely into the question, with the view of settling all doubts upon the subject; and lam glad to be able to lay before you particulars which I think will entirely free your minds from any impression of the kind to which I have referred. The total expenditure on General Government account during the year, including liabilities, is, as we have already seen, estimated to amount to £823,236 lls. Id. That total may be divided as follows:—

Eevenue, adding sur 1iU324q_325i2 8 7d Total expenditure,' Ippfrentl&ienc;, £35,59 i 9s. 3d. '

Results, how verified.

interest on Debt not paid out of borrowed money.

10

FINANCIAL STATEMENT.

B.—No. 2.

Oedinasy Expendituke. £ s. d. £ s. d. Civil List ... ... ... ... ... 27,500 0 0 Interest on Public Debt ... ... ... ... 217,83110 3 Under Acts of General Assembly ... ... ... 34,977 18 0 Departmental Expenses — Class 1. Public Domains and Buildings ... ... 3,080 0 0 „ 2. Public Departments ... ... ... 31,768 0 0 „ 3. Law and Justice ... ... ... 6,835 10 0 „ 4. Postal, including Telegraph and Marine ... 44,435 11 6 „ 5. Customs ... ... ... ... 1,910 0 0 „ 6. Native ... ... ... ... 17,011 4 0 „ 7. Miscellaneous ... ... ... 35,219 12 10 „ 8. Defence ... ... ... ... 12,499 9 3 [Refunds of Revenue ... ... ... ... 453 1 9 Supplementary ... ... ... ... 9,217 17 0 442,739 14 7 Expenditure in Reduction" or Liabilities and Repeoductite and Exceptional Expenditure. Sinking Fund — Amount employed in Repayment of Public Debt ... £46,598 0 0 Class 4. Telegraph Extension ' ... ... ... 17,166 13 0 „ 4. Marine Survey ... ... ... ... 4,500 0 0 „ 7. In Aid of Provinces ... ... ... 5, 000 0 0 „ 7. Advance to Province of Wellington ... ... 15, 000 0 0 „ 7. Unapportioned — New Gold Fields ... ... ... 500 0 0 Roads, North Island ... ... ... 25, 000 0 0 Patea Settlers ... ... ... 10, 000 0 0 ~ 8. Confiscated Lands ... ... ... 5, 000 0 0 „ 8. Defence ... ... ... ... 240, 000 0 0 Supplementary ... ... ... ... 11,732 3 0 380,496 16 6 £823,236 11 1 ■ As the payment of Sinking Fund is so much expenditure in aid of the reduction of debt, it is fair to look upon it as an item on the opposite side, to rebut the charge of our having to borrow money to pay the interest on our debt. Telegraph Extension and Marine Survey are items not ordinarily charged to revenue. The item Aid to Provinces, is an exceptional one, rendered necessary by our having to meet the inequality of revenues arising from the present mode of distributing the Provincial moiety. Advance to the Province of Wellington, is really a loan to that Province. Expenditure on New Goldfields, is an amount to be recovered. Expenditure on Roads in the North Island is, I need scarcely say to you, an extraordinary expenditure—one which may properly be considered as not chargeable to ordinary revenue. The same may be said as to Expenditure on Confiscated Lands. The item Patea Settlers, is also a loan. Under the head Supplementary, are included four items, which I need not particularize, but which come properly within the description of expenditure to which I am now referring. It remains only for me to invite your attention to Defence Expenditure.' You may, perhaps, ask me on what grounds I urge that this is an extraordinary ■ expenditure. I have no difficulty in stating those grounds. It is useless for us to < attempt to disguise from ourselves that when, in 1863, we incurred an enormous loan for war purposes — which, loan has been from time to time increased by other expenditure of the same nature —we did that which put it utterly beyond the power of the Colony, in the present generation, to continue to pay interest upon those loans, and yet to defray ©ut of. its revenue large war expenditure. In 1863, we decided —I do not say improperly —that war expenditure should be provided for out of borrowed money, —that the burden of such expenditure should be shared by ourselves and those who came after us; and now, when we have created these immense liabilities, it is out of the question to suppose that the mere handful of people inhabiting New Zealand can pay interest on them, and at the same time be able to find the means for the extraordinary Defence expenditure which has been unexpectedly forced upon them during the last two years. You have, therefore, in the statement, as I have prepared it, on the one side £442,739 14s. 7d., and on the other £380,496 16s. 6d., making together the total expenditure. Taking the Colonial moiety of the revenue at

Why Defence Exrerarderash°"Extra ordinary." •

11

FINANCIAL STATEMENT.

B.—No. 2.

£540,000, and deducting from it £442,739 ordinary expenditure, we have a balance of £97,261 remaining. In other words, if you are content to consider that the items of which I have spoken as extraordinary or exceptional, are fairly chargeable against borrowed money, you will conclude that you have a surplus of £97,261 over the expenditure fairly chargeable to revenue. That, I think, at once and effectually does away with the idea that we are borrowing money annually for the purpose of paying interest upon our loans. The surplus shown by the view which I have taken is very considerable. If you say that our revenue should be sufficient annually to pay off the sinking fund, we may pay it off, and still have a surplus of £50,663. Whether or not a portion of this surplus should be reserved for Defence purposes, or for reduction of taxation, I will not now pause to consider; because, when I come to Ways and Means for the present year, it will be my duty to state to you the opinion of the Government as to the manner in which the future revenue should be dealt with, —as to the charges which should be made against that revenue, and as to the^ extraordinary charges which, as the Government think, should be defrayed out of borrowed money. PUBLIC WOEKS AND IMMIGRATION. Before proceeding to the estimates of revenue and expenditure for the coming year, it is necessary that I should relate to you the policy of the Government which will affect that revenue and expenditure. Last year, we had in this Assembly many evidences that the colonizing spirit was re-awakening. During the recess, from all parts of the country, those evidences have been repeated, in the anxious desires expressed for a renewal of immigration ■ and of public works. I now ask you to recognize that the time has arrived when we must set ourselves afresh to the task of actively promoting the settlement of the country. lam about to state the proposals which the Government, after mature consideration, have decided to submit to you. I wish the task were in abler hands, for it is an onerous one. I will, very briefly, trouble you with the principles which are at the base of those proposals. They are, Istly, That both Islands should aid in the colonizing work; both be placed in a position to contribute to the general requirements; both share in the results obtained. 2ndly, That it is inexpedient to embarrass colonizing operations with unnecessary political changes; and that, therefore, it will be wise to adhere as closely as possible to the political institutions with the working of which we are familiar. Srdly, That the conditions and circumstances of different parts of the Colony vary widely, though there is throughout the Colony the same necessity for colonizing operations. I think that a recognition of these principles will be apparent in the proposals I am about to describe. We recognize that the great wants of the Colony are —Public Works, in the shape of Roads and Railways; and Immigration. I do not pretend to decide which is the more important, because the two are, or ought to be, inseparably united. I will first refer to Public Works. One Island, we are aware, is tolerably well provided with ordinary roads, but is deficient in railways. The other Island is deficient in both railways and roads, and wants, moreover, the special means for constructing them, in the nature of a public estate. We have to consider the best means of supplying those wants, and also how far those means should be made accordant with the conditions which have grown up as between the two Islands. The Middle Island will not consent to colonize the North Island at the expense of neglecting its own colonization. Whatever it consents to, as for the North Island, it will expect and require to be done as for itself. The North Island, unsettled, can do but little. The North Island, settled, will support a fully equal share of population, and meet a fully equal amount of the general liability. We propose that, in a part or parts of the North Island, the Colony shall be at the cost of constructing a trunk road, to place it or them in communication with the rest of the Island. The expense of this we estimate to be £400,000, requiring an

Results of Analysis of Expenditure.

Colonizing Operations demanded,

and should be undertaken.

Government Proposals. Both Islands should aid.

The work should not depend on political changes.

It is necessary throughout the Colony —but conditions various.

Public Worts.

Equal treatment of the two Islands.

£400,000 for a Trunk

12

FINANCIAL STATEMENT.

B.—No. 2.

expenditure of about £100,000 per annum for four years. But if the Colony finds the money for these works, it is fair that it should contribute an equal amount to analogous works in the Middle Island. We propose that it should be so —that an equal amount should be placed to the credit of the Middle Island, to be spent on railways, each Province to be entitled to share, upon the basis of its receipts from the Consolidated Revenue. Such a sum will not, of course, be sufficient for the construction of railways, but it will be a valuable contribution towards their cost, and, as between the two Islands, the arrangement will be absolutely fair. The opening of a road through the North Island will promote its real, and probably rapid settlement; and this brings us to the consideration of whether, in common prudence, we should not, when we improve the value of the North Island estate, endeavour to procure a portion of that estate to share in the profit of that improvement. Whilst we do not seek to disable private purchasers, we do seek, in the interest of both races, that the Government shall not be precluded from acquiring land. We propose that land for a public estate shall be purchased from time to time at its fair value; that such estate shall be subject to the land laws in force in the Province or Provinces within which it is situated ; that the cost shall be a charge against the Provinces respectively, to be recouped in such manner as shall be agreed upon with the Provincial Government when the land is handed over; and that the land itself, or its proceeds, shall be exclusively devoted to immigration and railway purposes. We propose that, for the purchase of these lands, £200,000 shall be available. I may add that the Government intend to ask for power, under similar conditions for recouping the outstanding liability for Treasury Bills on their account, to hand over to the Provinces from time to time such portions of the confiscated lands as may be relinquished without fear of evil results following. The condition of such relinquishment would be, that the proceeds in excess of the repayments of liabilities should be set aside for railway and immigration purposes. We are now to suppose the two Islands with a landed estate, and therefore possessed of some means for promoting settlement, with the inducement to encourage settlement which the consequent improvement in the value of the estate will afford. The position of the Islands is the position of the Provinces they comprise. We are to suppose that within those Provinces there will exist such a desire for public works in the shape of railways, and for immigration, as will be suitable to their several conditions. We propose that the Government shall be armed with power to conclude arrangements for the construction of certain railways within the different Provinces, as desired by their respective Governments. By " certain railways," I mean that the Legislature should indicate the direction of the railways for which it is proposed to allow the General Government to contract; and I think that, speaking generally, railways should, in each Island, be designed and constructed as parts of a trunk line. According to the nature of present traffic should be the immediate character of the respective railways. I hope the Provinces will recollect that the Colonial rate of interest on money is large, and that it is extravagant to lock up more capital than is necessary. In America, I am told, there are what are called "revenue railways," that is to say, railways constructed in the manner precisely sxiited to the traffic, and out of the traffic returns those railways are, from time to time, improved, in accordance with the traffic demands. The constructors are satisfied with a moderate speed, and, as an example of the system, they are satisfied to do without expensive stations —indeed, without what we should call stations. Here and there, perhaps, a shed is erected for watering the engines; but for the rest, flags put out on the line of route indicate that the use of the railway is required for passengers or goods. Interesting statements have lately been published concerning a Welsh railway, constructed partly out of revenue, and which is said to be very successful. Now, as to the mode of paying for these railways. It is essential, in order that we shall not proceed too fast and undertake more than our means will justify, that we should fix a very effectual limit to the liabilities to be incurred. Speaking broadly, I contend that during the next ten years the Colony will run no risk, if it commit 4

Road in the North. Island; and like sum for Railways in Middle Island.

£200,000 to create a Landed Estate for North Island;

to be Provineially charged ;

and proceeds of sale applied to Immigration and Railways.

Railways—General Grorernment to contract, at instance of Provinces.

£10,000,000 for all purposes, during ten years.

13

FINANCIAL STATEMENT.

B'.—No. 2.

itself to an expenditure, or a proportionate liability for guarantee of interest, of ten millions for railways, and for the other purposes comprised in these proposals. This would mean an expenditure, at the rate of present population, of £40 a head; or for interest, at &| per cent., of about £2 per head per annum supposing the whole amount was expended, or an average on the ten years of, say, £1. This supposes that the cost is all to be paid in cash, and that there are to be no returns to reduce cost or interest. If the railways are inexpensively constructed and worked, I contend that a considerable portion of them will soon be selfsupporting, that is to say, will yield sufficient, beyond working expenses, to cover either interest or guarantee, according to the principle adopted for raising the money for their construction. But there is another source from which to anticipate a reduction in the money cost —the land should be made to bear a considerable portion of the burden. We propose that authority should be given to contract for the railways by borrowing money, by guaranteeing a minimum rate of profit or interest, by payments in land, by subsidies, or by a union of any two or more of these plans. I am inclined to think that, judiciously combined, they will enable us to obtain our railways to the greatest advantage. The contractors may want some money, but they should be glad to receive some land to yield them a profit consequent upon the effects of the railway; and, similarly, if the routes be judiciously selected, the contractors should be glad to keep the railways with the security of a minimum guarantee. I will not dwell further on this part of the subject, because I am sure honorable Members will see that almost every agreement must possess its own special features. I now come to the question from what source the payments, if any, are to be made. We may at once concede that the Colony is to be primarily liable; but the question is, should the Colony find the money finally, or should the charge be made a local one ? I do not submit an arbitrary rule on the subject. Tavo courses suggest themselves,- — Ist, That any money paid should be charged at once to the Provinces ; or 2nd, That if the Colony make the payments, it should, on contracting the liability, take possession of land of commensurate value. Against the first, it may be urged that a Province might be unable to meet its liability; that the Colony would have to pay it; and that the local charge would be merely one of account. I answer this objection by suggesting that in making any agreement the Government would not be bound solely by the wish of the Province. They would have to be satisfied that the work was one which it was prudent to undertake; and that the means of the Province justified it. I have already endeavoured to show that, spread over a term of years, the liability would not be enormous; and looking at the vast benefit each Province would enjoy, it seems to me that special taxation, to be resorted to if necessary, would not be a hardship. In some cases, the Government might take as a collateral security the results of a special tax, or a mortgage over particular properties, such as railways in course of progress, or over rents and tolls. If the Provinces are to be made liable, each work would have to be constructed in accordance with their wishes, the General Government approving. There would, in fact, be at once constituted a mixed tribunal of the General and Local Governments. There is much to be said in favour of the second plan, that of the Colony taking land as security ; but, on the other hand, there may be urged against such a plan, that it would involve, in each case, a duplication, so to speak, of Provincial Government. I have already said it is desirable to avoid as much as possible mixing up organic political changes with the great colonizing question. I would not shrink from declaring that if the existence of the present institutions of the country are inconsistent with the promotion of Public Works and Immigration, and a choice must be made, I would infinitely prefer the total remodelling of those institutions to abandoning that stimulating aid which, as I believe, the condition of the Colony absolutely demands. But violent political changes are much to be deprecated, and in the present case they would not answer

Itß pressure, if all paid in cash.

But proposed that cost should be met in various ways.

Expenditure might be Proyincially charged, and collateral security taken;"

or the Colony might pay, and take land as security.

Provincialism not inconsistent with proposed operations;

14

FINANCIAL STATEMENT.

B.—No. 2.

the end in view. You might sweep away the Provinces and Provincial Institutions by legislation, but you could not destroy those feelings of separate and distinct interest which have grown up with the settlement of the Provinces. In the course of time, as the separate interests become blended, the distinctive sentiment will subside; but time and the progress of settlement and intercommunication must work their undemonstrative yet inevitable effects. To attempt to anticipate their action would be to induce an exciting political struggle, in the determination of which public attention would be so much absorbed as to lead to the neglect of the great Colonizing question. We say that we attach far more importance to the progress of Colonization than to the maintenance of any particular form of Government ; but we say, also, that we see that Colonization can be best promoted by; using, as far as they are capable of being used, those institutions which already: exist, making only such changes from time to time as circumstances demand. Therefore, we do not pretend to determine that either of the plans I have referred to must be adopted to the exclusion of the other. In the cases where railway construction can be carried out by the Provinces, we are of opinion that it is desirable the Provinces should be charged directly and immediately as already explained; but we are not willing to exclude the Colony from undertaking the primary liability, and in some cases, as proposed by the second plan, we think it should accept as a satisfaction of the liability, a fair equivalent in landed estate. Let the railways go on, we say, and from time to time the internal policy in reference to them can be adjusted. Supposing them to be commenced under Provincial and General Government auspices combined, there will be nothing to prevent their being, should it ever be found necessary, consolidated into one entity. In justice to the Provinces, and to my own opinions, I must say that I' think, in relation to Provincial Institutions, we are apt to mistake cause for effect. I admit that the Provincial divisions of the Colony make it a work of enormous difficulty to come down with any proposal for a comprehensive scheme of colonization. But to suppose that those divisions are consequent upon the political institutions of the Provinces is, as I have said, to confound cause with effect. Provincialism, as it is called, is consequent upon, and not the cause of, the manner in which the country was settled. It was an ambitious effort to attempt to settle the Colony from so many points; but the effort was made, the work was effected, and its consequences survive : you have to deal with a number of different communities. Provincialism represents not only their different ideas and the different circumstances in which they are placed, but it represents also their strong protests against an indiscriminate, precipitate, and arbitrary fusion. If Aye were dealing with colonies having each only one metropolitan centre, we should propose to apply a new colonizing scheme gradually commencing from one point. But to do so in New Zealand would involve gross injustice, not because of the political organization of the Provinces, but because those Provinces contain different communities, composed of men who have built up the Provincial edifice on the clear understanding that something in the nature of proprietary rights attached to it. "We may undervalue local distinctions, but why should a the inhabitants of one Province submit to a lengthened period of depression, £ whilst the means they partly contribute are devoted to consolidating the prosperity o of another Province ? It is very avcll to talk about narrow views, but one body of settlers is entitled to just as much consideration as another. If the settlers in any Province understood they were occupying an outlying district which would only be entitled to attention after more favoured districts had been served, we might then deal with this Colony as we would with another; but it is quite otherwise. Each Provincial community has been taught to believe itself on a par with its neighbours, and a colonizing scheme, to aid which the credit of the whole Colony was pledged, would be looked upon as a gross injustice, if it did not provide for due consideration to every Province. That is why we must pledge ourselves to a large scheme if we wish to do justice to all. Interprovincial barriers will in time be removed; but the removal should be effected through the agency of prosperity, not of adversity.

but can be made most useful-

Why Provincial feelu_3wlllcontinue

and why any Coion™gs*™emust be a comprehensive one.

15

FINANCIAL STATEMENT.

B.—No. 2.

What we as Colonial legislators require to be assured upon is this : Supposing that, from various centres of population and of settlement, we allow local action, with the approval and assistance of the Colonial Government, to give life to a number of railway enterprises, all (within each Island) designed for an ultimate junction, is there reason to fear that the combined operations will ■ prove too much for the Colony. So long as we know that, if necessary, the Colony may take the whole thing into its hands, we are safe in adopting that eventuality -—in considering what may be the possible consequences. We want to know what may be the worst, the most burdensome, effects of the adoption of a railway policy. I am going to put before you a conjectural sketch of what might be the position, supposing the Colony sooner or later took the whole matter into its charge, or that it remained partly a Colonial and partly a Provincial matter. It does not signify that, in the meanwhile, the whole large result is built up little by little by the action of the General and Provincial governing bodies conjointly; nor does it signify whether the joint action continues, or in course of time becomes wholly or in part suspended. I want to trace aggregate results. I suppose that some 1,500 or 1,600 miles of railway will require to be constructed, and that this can be effected at a cost of £7,500,000, together with two and a half millions acres of land, and that in addition about £1,000,000 will be required to carry out the other proposals lam making. I leave on one side the cost of Immigration, because, as I have before remarked, that expenditure will be essentially and immediately reproductive. Suppose that this money is expended at the rate of £850,000 a year for ten years. It matters not, for the purpose of our inquiry, whether the money is procured by direct borrowing, by the security of a guarantee, or by the aid of payments in land, in excess of the two and a half millions of acres, which I have assumed to be part of the construction money. We suppose that, during ten years, eight and a half millions arc expended, and that the rate of interest is 5-J per cent. The following table will represent the yearly payments : —■ Interest, 12 months on Interest, 6 months on Total Interest. Ist year ... ... ... £850,000 £23,375 2nd year ... ... £850,000 £850,000 £70,125 3rd year ... ... £850,000 £850,000 £110,875 4th year ... ... £850,000 £850,000 £163,625 sth year ... ... £850,000 £850,000 £210,375 6th year ... ... £850,000 £850,000 £257,125 7th year ... ... £850,000 £850,000 £303,875 Bth year ... ... £850,000 £850,000 £350,625 9th year ... ... £850,000 £850,000 £397,375 10th year ... ... £850,000 £850,000 £444,125 On the other side, merely as conjecture recollect, let us see to what desperate lengths this might drive the Colony. Is it extravagant to suppose that, in one way and another, six million acres of land will be devoted to railway purposes ? Two and a half millions, we assume, will be directly employed in the way of payments, the other three and a half millions would be available in reduction of the capital cost or the yearly interest. Some of this three and a half million of acres will be sold, some be let, some will remain in pastoral occupation until, in course of time, it has acquired position value. Is it unreasonable to estimate that, from all sources, of sale, letting, and licenses, during the ten years, such sums as the following will result, say — Ist year, £5,000, 6th year, £55,000, 2nd year, £10,000, 7th year, £70,000, 3rd year, £20,000, Bth year, £90,000, 4th year, £30,000, 9th year, £110,000, sth year, £40,000, 10th year, £130,000. Is it unreasonable to suppose that at the end of the third year, a sum of £10,000 will be the result over and above working expenses, from the railways opened up to that time, by the expenditure of the two and a half millions, which our calculation supposes to be expended, and that the return will be from the 4th year, £20,000, 7th year, £100,000, sth year, £50,000, Bth year, £150,000, 6th year, £75,000, 9th year, £200,000, and the 10th year, £250,000.

Ultimate security for the Colony.

Estimate of financial effect of proposals.

Proceeds of land taken ;

Receipts from Kailways ;

16

FINANCIAL STATEMENT.

B.—No. 2.

Let us suppose, further, that half of the Stamp Duties are to be brought to aid, and that these should be made to yield as follows :— Ist year, £40,000, 6th year, £65,000, 2nd year, £45,000, 7th year, £70,000, 3rd year, £50,000, Bth year, £75,000, 4th year, £55,000, 9th year, £80,000, sth year, £60,000, 10th year, £85,000. Our totals will then be as follows : —

Aid from Stamp Duties;

£1,000,000 Guaranteed Loan. Gratifying announcement from Commissioners.

Its benefits to be spread over the Colony.

Expenditure and Receipts contrasted.

Totals.

I should add, that these calculations suppose that the railways, the undisposed of land, the roads, and the increased population, will, at the end of the ten years, represent the outstanding liabilities. I have not taken into account the gratifying announcement received from the Commissioners, that the Imperial Government are disposed to guarantee a loan of a million for Public Works and Immigration purposes. Such a guarantee would mean a saving to the Colony of about £20,000 per annum. We should have no hesitation in receiving such a favour from the Imperial Government, and if received so much will it be the better. But until we know the conditions with which the guarantee is accompanied, it is prudent to do no more than to enable ourselves to use it should it be available. I have no knowledge of the conditions ; but I may say that the Government are resolved on this, that if the money is to go in aid of a general system of Public Works and Immigration, the saving it will effect should be participated in by all parts of the Colony. I have taken eight and a half millions as the basis of my calculation, because the million and a half for Immigration purposes I suppose to be expenditure of an immediately reproductive nature. But I have assumed, also, that in addition to a cost of about five thousand pounds per mile, two and a half million of acres will be paid away for railway purposes. Now five thousand pounds a mile should be sufficient, or nearly so, to cover the average cost of cheap railways, and the two and a half million acres of land I look upon as something more than a margin for contingencies or for exceptionally heavy works. I regard it in a great measure as an aid to Immigration in connection with railway construction, and 5

17

FINANCIAL STATEMENT.

&i pe: Interest, G months Cent. Total Interest. Receipts over and above Working Expenses on Railways. Receipts from Railway Estate. Stamp Duties Estimated. Total. Interest, 12 Months on on £ £ 850, 000 850, 000 850, 000 850, 000 850, 000 850, 000 850, 000 850, 000 850, 000 850, 000 £ 23, 375 70,125 116, 875 1G3,625 210, 375 257,125 303, 875 350, 625 397, 375 444,125 £ £ 5, 000 10, 000 20, 000 30, 000 40, 000 55, 000 70, 000 90, 000 110, 000 130, 000 £ 40, 000 45, 000 50, 000 55, 000 00, 000 05, 000 70, 000 75, 000 SO, 000 85, 000 £ 45, 000 55, 000 80, 000 105, 000 150, 000 195, 000 240, 000 315,000 390, 000 465, 000 1st Year ... 2nd „ ... 3rd „ ... 4th „ ... 5th „ ... 6th „ ... 7th „ ... 8th „ ... 9th „ ... Oth „ ... 850, 000 850, 000 850, 000 850, 000 850, 000 S50, 000 850, 000 850, 000 850, 000 Less 10, 000 20, 000 50, 000 75, 000 100, 000 150, 000 200, 000 250, 000 That is to say, expenditure and p ■.eipts e; ich year as folL w:— Expenditure. Receipts. 1st Year 2nd „ 3rd „ 4th ., 5th „ 6th „ 7th „ 8th „ 9th „ .Oth „ £ 23, 375 70,125 116, 875 163, 625 210,375 257,125 303, 875 350, 625 397, 375 444,125 £ 45, 000 55, 000 80, 000 105, 000 150, 000 195, 000 240, 000 315, 000 390, 000 465, 000

B.—No. 2.

independent of, or rather in addition to, the million and a half sterling which, over ten years, I propose, in one form or another, should he expended on Immigration. So confident are we that a great deal of the work comprised in these proposals can he effected by guarantees or subsidies, and by land payments, that_ we seek authority to directly borrow only six millions to carry out our proposals, including Immigration. To resume, I do not ask honorable Members to adopt the figures I have given; let the results be worked out as honourable Members please, and I doubt their being able to come to the conclusion that our proposals involve a too large responsibility. The Customs taxation cannot, I think, judiciously be increased. It may be desirable from time to time to amend and reduce the Tariff; but we must not calculate on its yielding, per head of the population, a larger amount than at present, —although, as the cost of the Government does not increase proportionately with the population, the increase of population will add largely to the revenue available for expenditure. We must also remember that the direct taxation of the Colony is small. For the first three years, the payments will be so inconsiderable as to leave little room for apprehension of difficulty in finding the money. After three years, supposing that extraordinary sums are required, will it be a great hardship to increase the Stamp Duties, or to have a House-tax, or an Income-tax, or some tax which will touch that lucky class, the absentees, who enjoy all the advantages, whilst they share not the burden of the hard colonizing labours without which the most favoured country on the globe's surface could not attain permanent prosperity ? I do not desire to express an opinion that any such taxation will be rendered necessary by a Railway system in conjunction with Immigration on a large scale. My conviction is in a contrary direction ; but, looking to the worst, what I wish to maintain is, that the fear of a mild and moderate future addition to the taxation should not be placed in competition with the great effects which will follow the construction of railways, through the employment they will afford, the immigration that will accompany their progress, the facilities they will render for bringing produce to market, and the aid they will lend to the general settlement of the country. I have dwelt at great length upon the various sources from which the railways can be constructed. I will only further add, in regard to the subject generally, that the proposals the Government are now making are too large to make it either desirable, or I might add compatible, with a liberal form of Government, that they should insist on determining all the details. The Government ask the House to assist them. The broad features of the policy there will be no difficulty in recognizing; to those, of course, the Government adhere; but the Government do not pretend to the right to lay down the details so closely as to justify objection to those details being subjected to independent criticism. At the same time, I am not making proposals to which a specific form has not been given. On the contrary, so impossible, without reducing them to a compact form, would it be to describe the nature of these proposals with sufficient accuracy to enable you to understand all their bearings, that I have had all the Bills prepared, and will without delay circulate them. It is fortunate that the time for a General Election is approaching. The Assembly may prefer that the country should be consulted on the whole plan. Ministers could not object to such a course; but if the Assembly, as now constituted, is willing to deal with the question, Ministers do not shrink from the responsibility of pressing it, for they are of opinion that the state of the Colony is such that the sooner measures of progress are matured the better will it be for the Colonists. Before I turn to the stibject of Immigration, I may mention that, in connection with Public Works, the Government propose that power shall be given to enable the Government to aid the Provinces, to a limited extent, to afford assistance to the construction of works for supplying the Gold Fields with water. I have already said that the subjects of Immigration and Public Works are most intimately allied. Because I deal with them separately, honorable Members

£0,000,000 only to be borrowed, including Guaranteed Loan.

Customs taxation should not be increased.

Additional taxation not necessary ; but if necessary, counterbalanced by results.

Details of Railway S scheme to bo subject] to consideration.

Government ready to carry out the schcaic, but willing to go to country.

Water Supply to Gold Fields.

18

FINANCIAL STATEMENT.

B.—No. 2.

must not suppose that we overlook the probability that the construction of railways will itself be a large and comprehensive means for promoting Immigration. I might detain you for hours in discussing the question of Immigration in its various aspects. It is essentially one of the greatest questions of the day —a question of transferring to lands sparsely populated portions of the excessive populations of old countries. We ought, in dealing with this question, to recollect that it is regarded from opposite points by the country parting with, and that which is receiving, the population. In the one case, the desire is natural to part with the worst, in the other to obtain the best, portion of the population. A class of persons may be introduced to the Colony than which even the convict element would be scarcely more detrimental. I allude to the refuse population of large towns and cities, composed of beings hopelessly diseased in body and mind, deficient in all capacity for useful labour, vagrant and idle alike by habit and inclination, paupers by profession, and glorying in being so. You could not subject those beings to the discipline to which convicts might be subjected ; they would be not only themselves bui'dens to the State, but they would be fruitful sources of corruption to others. It is painful to have to make reflections of this kind; but it is due to the Colonists that they should bo assured that the Government have their attention directed to the possible pernicious use to which the agitation at home for emigration may lead. We do not hesitate to declare that if, as has been proposed, the Imperial Government enter upon the task of directly exporting a portion of the idle masses, the Colonial Parliaments will have to jealously watch the class of persons sent out, and, if needs be, by legislation to prevent the Colonies from being converted into receptacles for the worst form of refuse population. If the Imperial Government are Avilling to expend money on emigration in conjunction with the Colonies, then, to make the movement satisfactory, the Colonies must absolutely have the charge of selection. We put on one side the contingency of Imperial aid, and ask the House to concur with us in determining that the Colony must take into its own charge the conduct of Immigration. I will show you presently, that in assuming that charge, it is part of our proposal to remember that Provinces and Provincial Institutions exist. Last year, I had the honor to invite the attention of the Committee to the subject of Immigration, and to hold forth the hope that we should be able to lay before the Assembly specific proposals. We directed the attention of the Commissioners to the subject, in a series of special Instructions which have already been presented to jon. I invite your attention to those Instructions, as indicating the general opinions of the Government on the subject. The Colony requires Immigration of several different descriptions; and it will be the care of the Government, if power by legislation is given to them, to enter into agreements in relation to different parts of the Colony, in accordance, as far as possible, with the views of the local authorities and with local requirements. In placing Immigration on this footing, I am not dealing with it in vague terms; because it is part of the principle I desire to establish, that the only limit to profitable Immigration is that set by a want of local preparedness to receive the immigrants. Prom whatever point of view you regard it, whether from the highest social or the narrowest pecuniary view, Immigration is a profit to the State, if the immigrants can settle down and support themselves. If many thousands of immigrants, introduced at once, could earn a livelihood in the Colony, I would not hesitate to ask you to vote the money to pay for their passages. Long before the money would have to be paid, supposing it to be borrowed, the immigrants would recoup the amount by contributions to the revenue. But it would be cruel to bring out immigrants, if you do not see the way to their finding the means of self-support. As every immigrant who becomes a settler will be a profit, so every immigrant who leaves the Colony, or is unable to procure a livelihood in it, will be a loss. We therefore say that we will introduce immigrants only to those parts of the Colony which are prepared to receive them. What the nature of the preparation may be, it would be impossible now to define. It might be land for settlement; it might be employment of an ordinary nature, or on public works; it might be that facilities for establishing manufactories, or aiding special or co-operative settlements, were offered.

Immigration.

Imperial G ovornment may co-operate ; but Colonial G-oyernment must control.

Local authorities and requirements must be consulted;

and Immigrants introduced where preparations made for receiving them.

19

FINANCIAL STATEMENT.

B.—No. 2.

Modes of assistance by Colonial Government

All tliat I can do by way of definition is to say, that the Government will be prepared to assist Immigration in every way possible, whether by direct grants, or by indirect agreements with powerful Associations, so long as it is evident that the Provinces desire and are prepared for the Immigration. What we shall ask will be, a guarantee that the desire and preparation exist, —the proof that the Province is willing to contribute towards the cost. Whatever the cost, we propose that the General and Provincial Governments shall share it, and we shall be quite willing that the Provinces should appoint agents to select suitable immigrants. The more Immigration Agents there are, the better, so long as they are properly qualified persons. I believe a great many immigrants may be introduced free, or at a small cost, in connection with public works, or land grants, or special or co-operative settlements. In any of those cases, the Provinces, though not actually paying money, will otherwise give good evidence of their desire •to encourage Immigration. Be it large or small, the cost will be divided. The Provincial share will be recovered by a stoppage of 30s. a-head, for the requisite time, to cover the actual half-cost, with interest added. The Provinces will, in other words, only have to relinquish, for a time, the poll receipts on the new arrivals, as I will explain directly. In no case will they have to make actual payment. If I have with sufficient clearness shown our opinion of the thoroughly reproductive nature of Immigration, judiciously managed, honorable Members will understand why, in no spirit of hostility to the Imperial country, we say that the whole thing must be in the hands of the Colony —the selection of the immigrants, the decision of how many are wanted, the preparation to receive them. What cultivation is to the farmer, what sheep-breeding to the runholder, what an increase of clients to professional men, are Immigrants, if they become settlers, to the State. We cannot too strongly insist upon this, and so lead ourselves up to the recollection that the conditions of an under-populated country widely vary from those of a country suffering from the evils of an excessive population. If we also remembered that there is a broad distinction of circumstance, and of the treatment required, between a country which is able to produce more than sufficient animal and vegetable food for its population, and one which is unable to feed its population, and has constantly before it the necessity of choosing between the production of animal or vegetable food, we should have less, than I think we have at present, of that servile imitation which tends to impede the search after the legislation which the Colony requires. I cannot close this branch of the subject, without adverting to the effect which the promotion of Railways and Immigration must certainly have on the Native question. The employment of large numbers of well-paid Natives on public works, to which, in their present temper, they will resort with avidity ; the opening up of the country, and its occupation by settlers, which will result from the construction of roads; coupled with the balancing of the numbers of the two races by a large European Immigration —will do more to put an end to hostilities and to confirm peaceful relations, than an army of ten thousand men. TELEGRAPH EXTENSION. There is one other purpose to which we propose to apply a part of the Loan I have described. I allude to the extension of the Telegraph. Sixty thousand pounds is the amount which will be submitted to the Assembly for that object. I will briefly describe the extensions proposed, and the several sums it is estimated they will cost: — Estimated Expense of the Extension of Telegbapii Lines in New Zealand. £ s. d. £ s. d. Invercargill to Eiverton—2o miles ... ... 1,200 0 0 1 Station ... ... ... ... 250 0 0 ■ ■ 1,450 0 0 Naseby Line—4o miles ... ... ... 2,600 0 0 1 Station ... ... ... ... 250 0 0 Port Chalmers to Otago Heads—lo miles ... 600 0 0 1 Station ... ... ... ... 250 0 0 — 850 0 0

ami cost to be divided.

Why Colonial Government must have control.

Effect upon Native question.

£60,000 forl'elegraph Extension.

20

EINANCIAL STATEMENT.

B.—No. 2.

£ s. a. £ s. a. Third Wire from Dunedin to Christchurch —250 miles 4,000 o o ■ 4,000 o o Purchase Money of Otago Provincial Line ... ... 2,385 o o Purchase of New Materiel from Otago Provincial Government, including 1,120 Iron Poles* ... 2,04 So o , . 'i'j'aL'OO O O Second Wire from Christcliurch to Hokitika—lBo miles 3,700 o o 3,700 o o Lyttelton to G-odley Head —6 miles ... ... 360 o o 1 Station ... ... ... ... 250 o o f\l r\ r\ /-i Akaroa Line —40 miles ... ... ... 2,000 o o 1 Station ... ... ... ... 250 o o ■ 2,250 o o Branch Line to Waiau (including Ilurunui) —40 miles 2,650 o o 2 Stations ... ... ... ... 500 o o ■ 3,150 o o Town of Nelson to Port —1^ miles ... ... 100 o o 1 Station ... ... ... ... 150 o o ■ 250 o o Wellington to Pencarrow, via Hutt —20 miles ... 635 o o 1 Station ... ... ... ... 100 o o — ■ 735 o o Patea to Taranaki—loo miles ... ... ... 6,000 o o 2 Stations ... ... ... ... 500 o o 6,500 o o Tauranga to Thames, 1 wire—loo miles ... ... 7,000 o o 2 Stations ... ... ... ... 500 o o ■ 7,500 o o Second wire to Thames, via Tauranga—3oo miles ... 5,400 o o 5,400 o o Onehunga to Manukau —20 miles ... ... 1,500 o o 1 Station ... ... ... ... 250 o o 1,750 o o Auckland to Kaipara, Wangarei, and Bay of Islands 200 miles ... ... ... ... 12,000 o o 3 Stations ... ... ... ... 750 o o ■ ■ 12,750 o o Instruments, &c. ... ... ... ... 2,000 o o ■ ■ 2,000 o o Total ... ... ... ... £60,178 o o FINANCIAL RELATIONS WITH THE PROVINCES. In the course of the remarks I have made on these various proposals, I have abundantly evidenced the desire of the Government to respect the integrity of Provincial institutions, and to put them to their highest and most valuable uses; but I have not hesitated to declare that, inasmuch as the objects of Government are superior to a blind subserviency to particular forms, we must not shrink from making such alterations in the Provincial system as the requirements of the country, and of a colonizing policy, demand. There are features in connection with the Provincial system which require to be considered, with a view to removing the objections to which they are amenable. The financial relations between the Colony and the Provinces require to be re-shaped. They are wanting in simplicity, and they work unequally; they are of a nature which tends to embarrass the consideration separately of the respective finances of the Colony and of the Provinces. The present system has, however, the advantage of making each Province responsible for its own liabilities, and of making it also the interest of the Provinces to aid the General Government in keeping down departmental expenditure. It is, on the other hand, open to the objections I have already referred to in general terms, and which may be thus described :—Firstly, Some Provinces receive less, and some more, than they are equitably entitled to. Secondly, The present arrangement impedes the consideration generally of questions relating to taxation. Thirdly, It is productive of difficulties of an almost insuperable nature in the way of maturing, with other Colonies, reciprocal arrangements for the exchange, duty free, of Colonial produce and manufactures. Fourthly, It somewhat hampers the freedom of Interprovincial trade. 6

Financial Relations with Provinces must be modified.

21

EINANCIAL STATEMENT.

B.—No. 2.

It is worthy of remark, that when, two years ago, objections were taken to what was termed the partnership between the Colony and the Provinces, my colleague, the Premier, though not agreeing with the nature of the proposals made to end that partnership, expressed himself as favourable, in a large measure, to the principle involved, as the following extract from his speech delivered on the occasion will show :—- -" The first reason 1 have tabled for my motion of want of confidence relates to the dissolution of financial partnership between the General and Provincial Governments. I concur in that proposal —1. Because it gives the only prospect of reducing taxation. —2. Because it prevents complications of accounts and endless disputes. —3. Because the Provinces will know what their means really are.—4. Because it will prevent falsification of accounts by the General Government, and the consequent squabbles arising thereout. But it should not be carried out on any principle which should tend to destroy the feeling of individual responsibility on the part of the Provinces, or create a desire on the part of those which have borrowed little, to go on borrowing wildly, merely to be on a footing of equality with the others." Substantially, we do not propose to make any alteration in the present system, excepting to pay to the Provinces so much per head of population, in lieu of a proportion of the revenue, the Provinces to be charged as at present for loan liabilities, and for what are known as Provincial services. But there is one important provision, in addition, to which I must refer. The party to which the present Government belong has never denied that the outlying districts had in some cases more or less cause for complaint. The members of that party have not been able to concur in many of the suggested remedies. "We now come down with a proposal based not only on a sense that the country districts have a right to the recognition of the complaints they make, but also that, on pecuniary groirnds, if the Colony is to enter on a system of opening up the country by trunk roads and railways, and by immigration, it is vitally necessary that side roads feeding the main lines should also be constructed. We see a money profit to arise from the proposal I am about to make ; we see, also, that it will tend in the direction of preventing the public estate from being subjected to forced sales, irrespective of the progress of settlement. We propose that, for seven years, £50,000 a year shall be voted out of the consolidated revenue, to be expended by local bodies —I will call them Road Boards, though they may have many designations —on district roads. We propose that the £50,000 should be divided between the Provinces, in the proportion of their populations. The division within each Province is a matter of much greater difficulty. If you make population or local rates the basis of division, you may be giving to comparatively settled districts an overwhelming advantage over those districts the settlement of which is just commencing. We recognize that, as the Colony will have to find the money for this purpose, the Assembly has the right jealously to watch the expenditure, whilst we also see that the Assembly could ill devise the details of the expenditure. We propose, therefore, that during the first year the money shall be expended on district roads, by District Boards, with the approval of the Governor in Council, the plan in each case to be submitted by the Superintendent. After the first year, we propose that the plan of expenditure for each ensuing year shall, by the Superintendent of each Province, be submitted to the Government of the Colony, and by them be submitted to the Assembly, and be approved of by it. When I speak of a plan, Ido not contemplate an apportionment of the money to particular roads. The plan to which I refer is, the mode of dividing the money between the Local Boards, and this, of course, includes the necessity that there shall be Local Boards amongst which to divide it. I hardly require to add that it is contemplated that the Gold Fields shall be included in road districts. AMOUNT OE CONTRIBUTION TO PEOVINCES. The Committee will be anxious to learn what sum per head of population it is proposed to pay to the Provinces. No doubt some honorable members will question the wisdom of our making the contribution to the Provinces chargeable with the Provincial Services. But, after well considering the subject, we have come to the conclusion that it is better to do so. Otherwise, there would be no limit to the demands made for the extension of Postal Services, for the increase of Tele-

The Hon. the Premier onthe "Partnership."

Payment per head of Sti^edformofetSy b' of Consolidated Bevenue.

£50,000 &r Eoad

Capitation payments Provineiafservices.

22

EINANCIAL STATEMENT.

B.—No. 2.

graph Stations, for the establishment of fresh Ports of Entry, and for the appointment of Resident Magistrates. The local charge of these Services operates as a useful incentive to moderation and economy. The Provinces now receive half of the revenue for the same purposes for which we propose to give a poll contribution. In fixing the amount, however, it must be borne in mind that, as the population increases, the amount the Provinces will receive will increase, but there will not be anything like a corresponding increase in the cost of the Provincial Services. We propose to give this year two pounds per head of population, and to diminish the amount annually by two shillings, until it falls to thirty shillings, at which sum we believe it will be found wise to leave it. There is no accurately ascertaining the population, but we believe it is about 250,000. Besides the two pounds per head, we pi*opose to give, as I have already stated, £50,000 for what are strictly Provincial pui*poses —subsidies to Road Districts. The means of determining the population of the Provinces had better be discussed when we decide on the principle. We assume that, to start with, there are 250,000 Europeans. There is some difficulty in deciding what contribution should be made on account of the Maori population. It would not be fair to give a contribution on account of those Maoris who roam about the interior, and who are apt to cost more than they contribute to the revenue; but there are Maoris on whose account a contribution should as justly be made as on account of Europeans. We have thought over many plans for estimating these, but we can arrive at no better proposal than an arbitrary one of £3,000 each to Auckland and Hawke's Bay; £1,500' to Wellington; and £500 to Taranaki. The Maori population of Hawke's Bay undoubtedly contributes very considerably to the revenue. The County of Westland also requires to be exceptionally treated, on account of the large proportion of adults in the population. We propose that Westland shall be allowed an extra ss. per head of population. The total will stand thus — Population allowance ... ... £500,000 Maori allowance ... ... ... 8,000 Special to Westland ... ... 3,375 Road Districts ... ... ... 50,000 £561,375 I give an apj)roximate statement of the way in which these proposals will affect the Provinces. Ido not pretend they are absolutely correct. All I now say is, that they have been compiled with care, and that we propose they shall be adopted as the basis of distribution for the ensuing year.

£2 per head thia year, to be reduced 2s. a year, down to £1 10s.

Contribution for Maoris.

Special contribution to Westland.

Effect of Capitation Payments.

The half of the revenue last year was £509,000, so that the Provinces gain considerably, besides the inducement that is afforded to them to increase their population. It will in future be profitable for the Provinces to encourage matrimony to the extent of finding the gold ring, and perhaps in due time a cradle in addition. We propose, moreover, to set apart half the Stamp Duties, after the end of the year 1870-71, for Railway purposes. I shall be asked how the Colony can afford to be so liberal to the Provinces. Before going into details, I reply, in general terms, that the Colony will derive benefit as well as

23

EINANCIAL STATEMENT.

Population. Amount at £2 per head. Proportion Of £50,000 for Koad Districts, Special Allowance. Allowance on account of Maoris. Total. Last Year's lleceipts. PROVINCE. Gain. Loss. OTCKLAND 'ARANAKI Veliington Iawke's Bay ... 62,000 4,800 25,000 6,000 24,000 4,700 40,000 13,500 70,000 £ 124,000 9,600 50,000 12,000 48,000 9,400 80,000 27,000 140,000 £ 12,400 960 5,000 1,200 4,800 940 8,000 2,700 14,000 £ £ 3,000 500 1,500 3,500 £ 139,400 11,060 56,500 16,200 52,800 10,340 88,000 33,075 154,000 £ 131,000 4,460 47,540 1G,300 44,280 4,940 62,680 46,800 151,320 £ 8,400 6,600 8,960 £ 101 Jelson IaRLEOKOUGII ... Jantereury Vestland )tago and Southland 8,520 5,400 25,320 3,375 13 ',72! 2,680 Totals 3,375 250,000 500,000 50,000 8,000 561,375 509,320 65,880 13,82:

B.—No. 2.

the Provinces from the construction of railways and from immigration; that it is wise to stimulate the Provinces to colonizing enterprise, by making the concession of an increased revenue for settlement purposes, such as we propose ; and that the Colony, but for the Native disturbances, could not only afford the increase, but could reduce taxation as well. It is to be remembered, also, that our proposals embrace a specific allocation of a portion of the money payable to the Provinces, to particular and well-defined objects. When I come to the Ways and Means, I have no doubt the Committee will see that the proposals we make, although liberal to the Provinces, are not more so than the Colony is warranted in making. Ido not dwell on the extraordinary results the division discloses as to the unequal working of the present system. Honorable Members will doubtless conceive strong opinions concerning the justice which the Provinces have hitherto received. Canterbury has clearly lost some revenue belonging to it, or revenue payments within the Province have been evaded; Westland must have been drawing revenue from imports consumed on the Nelson side of the border. INTEECOLONIAL TEADE AND INTEECHANGE. For some time, considerable attention has been directed to the subject of the restrictions under which the Colony labours in respect to entering into commercial relations with other countries and colonies. In 1868, I brought down a Resolution urging the Government to enter into negotiations for procuring the iai admission of Colonial wools into the United States duty free. I then pointed out the hardship under which the Australasian Colonies laboured, seeing that the British-American Colonies had for a long while been permitted to enter into reciprocal arrangements. The late Government accepted the Resolutions, and, in pursuance of them, '• made arrangements for a Conference of Representatives of the different Colonies. The Conference was to have been held in October last, but fell through, owing to some of the Colonies not being prepared to proceed with it. Dr. Knight and I went to Australia for the purpose of attending the Conference; and when we found that it would not take place, we entered into communication Avith the New South Wales Government. lam not able to submit to you all the arrangements to which we agreed, because those arrangements were subsequently disturbed by the Queensland Government declining to become a party to them. Incidentally, however, in a correspondence to which I am about to refer, one of the Memoranda agreed to in New South Wales finds a place. It was attached to a letter written to Tasmania, before Queensland's withdrawal was known to the Government. I think I may add, that the withdrawal of Queensland was not dictated by any objection to the particular Memorandum to which I am referring. The correspondence with Tasmania arose through the desire of that Colony to arrange another Conference. This time, the express object was to bring about what is known as a Customs Union between the Australasian Colonies. The meaning of a Customs Union is, that the Colonies should agree to a uniform Tariff, and that goods cleared in any one Colony should be admitted duty free to the other Colonies. There are various proposals as to the mode of dividing the total revenue amongst the different Colonies ; but to these I need not refer, because, as will be seen by the correspondence, the Government at once expressed their total disapproval of any arrangement which would prevent the Colony from freely dealing with its own Tariff. lam not saying that, in the event of a Federal Union between the Colonies, a Customs Union might not also be necessary; a Customs Union by itself, however, we decidedly condemn—that is to say, a Union which would prevent our varying our Tariff from time to time, and making it suitable to our own wants. But we fully recognize the advantages of i reciprocity. The first mail to California carried a correspondence having for its object to urge the United States to consider the question of relaxing the restrictions upon the admission of Colonial wools. This correspondence has been laid before you, together with that already referred to. As something has been said about our Government not having addressed the United States Government direct, I may mention that we had reason to think the course we adopted was

Admission of Coloni into°UmtedStatee.

Colonial Conference

An Australasian butSrcotonwi

objected to Reciprocity desired,

Correspondence with OovCTnlm°ent 3t''ltes

24

EINANCIAL STATEMENT.

B.—No. 2.

necessary to secure the attention of the Government of that country. I invite you to consider the valuable Memorandum of the Attorney-General (already laid upon the Table) on the subject of reciprocal arrangements between the Colonies. As I have said, although objecting to a Customs Union, we highly value reciprocal arrangements between the Colonies. The Colonies should have the power to make such reciprocal arrangements for the interchange of Colonial produce and manufactures as may seem to them desirable. So strongly: are we impressed with this conviction, and so much do we feel the injustice of the' Australasian Colonies being placed at a disadvantage as compared with the BritishAmerican Colonies, that we intend to submit to you a proposal which will, to all intents and purposes, give us the power, without waiting for the tardy assistance of the Imperial Government. Although we cannot legally impose differential duties, there is nothing to prevent our voting moneys, by way of bonus, to importers of particular produce or manufactures; and the bonus may amount to a part or to the whole of the duty. We propose to take power to enter into agree-: ments with the neighbouring Colonies to pay sums, in the shape of bonus, on the ] importation of certain goods. We mean still to urge the Imperial Government to remove the obstructions in the way of direct arrangements ; and we can scarcely doubt that a nation which has shown us in so "many ways how highly she values commercial considerations, will welcome and aid the development of a commercial spirit in her Colonies. Be this as it may, in the meantime, we propose, with the approbation of the Assembly, to give effect to the principle of reciprocity by < allowing a bonus on the importation of Australian wines. The terms of that; bonus I will presently allude to. As far as the principle is concerned, I am' mistaken if it is not one which will be heartily welcomed in this Colony, and none the less so that it gives to other Colonies a practical proof of our desire to enter into reciprocal relations with them. TAXATION. Now that we have cleared the way by dissolving the partnership between the Colony and the Provinces, we can deal simply with taxation questions. Ministers are of opinion that the aggregate of taxation cannot be increased with advantage, but that in many cases taxation ought to be varied. I do not wish to re-open the discussion of last year about free trade and protection. What I submit is this,' —■ We want to raise a certain amount of revenue, and it is highly expedient that the revenue shoixld be derived in the manner best calculated to stimulate local production. If imports must be taxed, let those escape lightly which cannot be produced here, and let those which need not be imported, but which wealthy persons choose to consume, be made to yield a revenue. We do not ask for extensive changes ; we ask you to put a tax on some articles and to take it off others. The total revenue will not be varied much, so that we still continue to make revenue requirements our guide. The Tariff alterations we propose to make are described in a separate Statement. The nominal amount of the added duties exceeds considerably the reductions, but it must bo recollected that the tendency of the increases will be to reduce importations. I propose that the increases shall commence immediately ; whilst, to give persons who have already paid duties an opportunity of working off their stocks, I propose that the decreases shall commence on the Ist October. In consequence of this arrangement, I estimate that for the year the change in the Tariff may yield some £5,000 additional revenue, whilst next year the change will be calculated to rather reduce than increase the receipts. It will be observed : that, in respect to the general and popular uses of the articles which we subject' to changes, the reductions not unfavourably compare with the increases. DEFENCE EXPENDITURE. You will not be surprised, after what I have already stated upon the subject of] Defence expenditure, to hear that the Government consider that the Colony is not c justified, even if it were able to do so, in regarding the item of Defence Expendi- c ture as one to be defrayed out of the ordinary revenue. To raise a revenue sufficient to pay annually the interest upon our war loans, and to meet the 7

Reciprocity to be f n

By voting sums as bonuses >

The principle to be first applied to Australian Wines.

Aggregate of Taxa--s^™' be

But variations may Coloiaal

Result of proposed nations.

Defence Expenditure cannot come out of 01'ljaryrtl'

25

EINANCIAL STATEMENT.

B.—No. 2.

extraordinary expenditure which may be forced upon us by unfortunate circumstances, would be, to say the least —and it has been so hitherto —either to subject the population to oppressive and injurious taxation, or to prevent the expenditure for reproductive purposes of money which might be so employed. lam not about to express an opinion, either on behalf of the Government or on my own behalf, respecting a question upon which there has been so very much difference of opinion, namely, the cause of the last outbreak of the Natives. But I may say this : There is a very general impression that had we not gradually been persuaded into a sense of undue security against further Native difficulties, and so been led to abandon those precautions which were previously considered necessary, any fresh outbreak of war or of difficulty, whenever it occurred, might have been dealt with more effectually and promptly than was possible after we had been lulled into false security. But the Colony is able now to congratulate itself upon a very much improved aspect of Native affairs, and by judicious and conciliatory management, we may be spared the 'great evil of any fresh disturbances of a serious nature. It would, ncvertheleless, be highly imprudent —nay, it would be but little short of madness —however favourable appearances may now be, to fail to make adequate provision to meet cases of necessity—to fail to make proper provision to guard against risks. We therefore propose to do that which we believe a large section of the public men of the Colony regret was not done four years ago: we intend to ask for a Permanent Appropriation for Defence Purposes, of £180,000 for the first year, £160,000 for the second year, and £150,000 for the three succeeding years; the money to be borrowed from time to time if required, and as required. I shall leave to my colleague, the Hon. the Defence Minister, to dilate upon the many advantages which a permanent appropriation of this kind would ensure. It is sufficient for me to say, in respect to that portion of the subject which comes within my province, that by adopting this plan, you will enable such ordinary revenue as you raise for ordinary purposes to be so applied, and if there be an excess you can reduce taxation so as to yield only the amount actually required, or partially reduce taxation, and apply the balance to reproductive purposes. The hardship under which the people of the Middle Island labour in having to expend so much upon Defence piirposes, is frequently urged. Without entering into a discussion of the merits of the question, I may point out that if, during present years, the Defence expenditure is taken from the revenue, a larger proportion of the cost will be thrown upon the Middle Island, owing to the comparatively unsettled state of the North Island. But if it be the fact that the North Island will support as much life as, or more than, the Middle Island, we may be certain that it is only a question of time when the North Island will be able to contribute equally with, or even more largely than, the Middle Island, towards the expenditure for Defence purposes. By borrowing the money for that expenditure, therefore, instead of charging it annually upon revenue, you will have a fair prospect that the ultimate repayment will fall more equally upon the two Islands than, it must be admitted, is at present the case. I have already referred to the heavy expenditure entailed upon us for interest and sinking fund, on account of the large war loans. But, beyond that expenditure, there has, during the last few years, been more or less of expenditure for Defence purposes out of revenue. That expenditure, it may be said, has passed to final account —that is, it has been paid from out of the revenue derived from the two Islands. I take leave to think, however, that, had the money for Defence purposes been borrowed, and had the sums expended for current Defence purposes been expended for purposes of settlement —for the construction of roads and the introduction of immigrants—although we should now have a somewhat larger annual interest on the debt to pay, we should have a more than corresponding increase of contributing power. EXPENDITUEE FOE THE ENSUING TEAE. We have now cleared away the principal points requiring separate discussion, and, subject to them, we may proceed to consider the Expenditure and Ways and Means for the ensuing year. I have occupied so much of your time, that I

Prospects are encouraging;

But provision must be made for emergencies,

And a Permanent Appropriation is proposed.

The burden on each Island will be thus equalized.

26

EINANCIAL STATEMENT.

B.—No. 2.

will take another opportunity of commenting on the details of the Estimates. I will on this occasion ask you only to consider the broad divisions of the expenditure. The total estimated expenditure set down in the ordinary Estimates is £903,523 os. 5d., of which £489,327 os. 3d. belongs to General Charges, and £414,196 os. 2d. to Provincial Charges. I will read the totals opposite to each class, including the Permanent Charges.

Estimated Ordinary 5d year '

The amount of the Provincial Charges will be defrayed out of the contributions payable to the Provinces. The Colonial portion includes the payment of Sinking l^und, the Departmental Defence and Native Expenditure, but does not include the Colonial Eorce Expenditure nor that for Telegraph Extension. I now proceed to consider the "Ways and Means for the ensuing year. WAYS AND MEAN'S FOE THE ENSUING YEAR We shall commence the year, it will be remembered, with a nominal deficiency of £35,591 9s. 3d.; but, on the other side, we have the following sums: —Two amounts owing by Southland, £15,285 13s. 3d. and £8,130 6s. 5d.; and the amount paid on account of roads in the North Island, £25,000. Those sums may be at once regarded as recoverable. As to two other sums —£10,000 advanced to the Patea Settlers, and £15,000 to the Province of Wellington for the Wanganui Bridge —it is a matter for consideration, whether we shall put ourselves in the position of borrowing an equal amount, or shall allow the sums to continue as a debt to the revenue. There is another amount due to the Colony, respecting which the House will have to give some direction. Three years ago, the Loan Allocation Act was repealed, except so far as the amounts then due by the Provinces respectively for accrued interest and sinking fund. It is not for me to discuss the policy of that arrangement. It is sufficient to say now, that on the last day of the year I am bound to debit to each of the Provinces concerned the amount of its debt. There has been no direction given as to what is to be done with the money. Supposing it to be regarded as a debt due by the Provinces to the Colony, it would follow that it would be money available for appropriation. I am not sure that the two Provinces principally concerned (Auckland and Taranaki) are in a position to spare the cash necessary for making the payment: but on this subject I may yet consult the Provincial authorities. Supposing that those Provinces are not—or that either of them is not -—conveniently able to make payment, I do not see that the House should object to allowing them to raise money for the purpose. The amounts due by the other two Provinces (Wellington and Hawke's Bay) are comparatively trifling. The greatest difficulty in the matter seems to be, what shall be done with the

Nominal deficiency, fSLtacfat hUi commencement of year- £72' m 16s'1<L

27

EINANCIAL STATEMENT.

187i 1-1. GrEJTEEAL. Peoyincial. Civil List Permanent Charges ... ... ... 3 Class 1, Public Domains and Buildings ... ,, 2, Public Departments „ 3, Law and Justice „ 4, Postal, &c, Services „ 5, Customs Departments ... „ 6, Native „ 7, Miscellaneous, Special, and Tem- £ s. a. 27,500 0 0 305,603 0 9 2,800 0 0 31,730 9 0 4,976 10 0 41,605 0 0 11,955 0 0 19,272 5 0 27,5C 305,6( 2,8C 31,7£ 4,97 41,6C 11,95 19,27 OO Of: 00 03 00 30 76 1 05 55 72 afr l 0 0 0 9 0 0 9 0 10 0 0 0 0 0 5 0 ID A 194.. 11 46. 84. 37. 9. £ s. d. 194,469 0 11,853 6 46,197 16 84,459 0 37,387 5 9,332 0 t,4( L,8f i,l£ ',35 >,3E » ftr 0 8 0 0 0 0 porary „ 8, Militia and Volunteers 38,867 18 0 5,016 17 6 38,80 5,01 67 1 16 1 18 0 17 6 6 23 ; 6,700 0 23,797 12 0 6 Totals ... .. £4 £489,327 189,32 27 0 0 3 3 414 : 414,196 i;it 0 2 GrEJTEBAL ClIAE&ES ... £489,327 :27 0 3 0 3 Pboyincial Chaeges 414,196 .96 0 2 0 2 Total £903,523 0 6

B.—No. 2.

money ; as to which I may say, the Government have concluded that, unless otherwise directed by the House, they shall assume that the money is to pass to the aid of general revenue. This amount, together with those due by Southland, and that for roads in the North Island, will give a total of £83,462 ss. 4d. There will be, besides, about £25,000 recoverable from the Special Fund, apart from the amount previously referred to under the Loan Allocation Act, and apart from the balance in Special Eund available for meeting the Treasury Bills charged on the Settlements Act. Adding the amount of £25,000 to the other sum mentioned, £83,462 ss. 4d., we have £108,462 ss. 4d., to commence the year with, less the deficiency of £35,591 9s. 3d., already explained, leaving a balance of £72,870 16s. Id. for the purposes of the year 1870-71, or for such other purposes as the Assembly shall appoint. This amount is exclusive of the advances to Patea Settlers and for the Wanganui Bridge; as to which two sums I propose that the Government shall have power to borrow on them, or to transfer them if necessary. I now come to the ordinary revenue of the year. I will give you the actual receipts for the past year, remembering that we have been obliged to make an estimate as to the last month, and I add the estimate for the ensuing year. The figures stand thus : —■ Eeceipts, 1869-70. Estimated Eeceipts, 1870-71. £ £ Customs ... ... 816,150 810,000 Bonded Warehouses ... 4,722 4,500 Stamps ... ... 65,008 70,000 Post Office... ... 47,433 52,000 Telegraph ... ... 17,443 25,000 Miscellaneous ... 83,714 90,000 1,034,470 1,051,500 There may be added, as the result of the changes in the Tariff, a sum of £5,000. It will be noticed that the ordinary Customs Revenue is estimated at a reduction of £6,000, as compared with last year's receipts, instead of a normal increase being allowed for. The reason for this is, the apprehension we entertain of the effect upon the revenue which may result from operations under the Distilleries Act. A distillery is already in operation (in Dunedin), and another is about to be established (in Auckland). If those distilleries prove successful, there can be no doubt that the effect upon the revenue will be a serious one. The proprietors of the established distillery have not been bringing much of its produce into consumption. They seem to have been holding their stock, for the purpose of improving it by age; and should a large quantity of that stock come into consumption during the present year, the revenue will be considerably affected. I think it is well worthy of your consideration, whether you should not take the opportunity of affirming that, in the event of any alteration being made in the Import Duty on Spirits, the Assembly is not bound to make a corresponding or any reduction in the present rate of Excise Duty. That duty is now one-half of the Import Duty. When the promoters of the distillery in Dunedin applied to the Government to approve their undertaking, an intimation was, in reply, given that, in the event of a reduction in the Import Duty, the Assembly would in no sense be bound to reduce the Excise Duty below 6s. per gallon. The Government have lately received an application respecting the proposed distillery in Auckland, and I have ventured to give to the promoters a precisely similar intimation. Ido not propose that there should be any immediate, or even early, action taken; but it is clear that the time will come when the increase of population will offer such large inducements to smuggling, with the present rate of Import Duty, that it may be advisable to make some reduction. It may not be necessary for several years ; but it is only fair that those who are interested should understand that, whatever may be found necessary as to the Import Duty, they will not have a claim for a reduction in the present Excise or Differentia] Duty in their favour.

Exclusive of £10,000 £15 wo for" 1618'and Wanganui Bridge,

Estimated Revenue oftheyear-

Effects of Excise Duty.

Warning to DlBtaie

28

EINANCIAL STATEMENT.

B.—No. 2.

The other items of Revenue are, I think, moderately stated. Should the very large arrears in respect to Crown Grants he cleared off, and the Land Registration Act he successfully brought into operation, it is possible that the item Miscellaneous may exceed the sum which has been set opposite to it. We have, then, an expenditure as follows : — Colonial purposes ... ... ... £189,327 0 3 Capitation payments to Provinces, out of which the Provincial Charges are payable ... 561,375 0 0 £1,050,702 0 3 On the other side, we have revenue, including the addition to Tariff ... ...1,050,500 0 0 Showing a surplus of £5,797 19s. 9d., taking the revenue alone into consideration, but to which has to be added the £72,870 16s. Id. available from various sources at the commencement of the year, making a total estimated surplus at the end of next year of £78,668 15s. lOd. To that may be added, if required, the £25,000 advanced to Patea Settlers and for Wanganui Bridge. On the other hand, the surplus may be reduced by the possible increase of the liabilities for Defence Expenditure, to the extent of £10,000, to which I have already referred. Some small amount of additional interest may also become payable within the year. Ido not propose to do anything with the surplus. It should accrue by next year; and next year will be the time to decide whether to employ it in reducing the Colonial debt or the Colonial taxation. I will again ask you to remember that the expenditure includes £46,000 repayment of our Loans by Sinking Fund, and £50,000 for Road Districts; that the increase of the Tariff is solely consequent on three months being allowed to elapse before bringing the reductions into operation; and that even with that increase the total revenue from Customs Duties is estimated to he less than the present year. Let me, before I conclude, implore honorable Members not to allow party feelings to interfere with their consideration of the proposals we have made. If they like to relieve us from carrying out the work let them do so, but do not let them in hostility to the men condemn the measures. If we were actuated by a desire to retain office, or to hold it on easy terms, we are fully aware that we are not serving either purpose by our proposals ; we know that nothing would be easier than to make the approaching appeal to the country the excuse for hurrying through the Session without raising any dehateable questions. But do us the justice to suppose that all party considerations sink into utter insignificance in our minds, when we place them in competition with questions of such large moment as those we have raised. It may be that some honorable Members will think those questions prematurely raised —will be of opinion that there is no need to be otherwise than contented with affairs precisely as they at present stand. Whilst we will freely allow that their views are honestly and disinterestedly entertained, however little we are able to agree with them, let them do us the justice to believe that we are impelled to the enormous responsibility we have undertaken, in proposing such measures, by an overwhelming conviction that they are demanded in the interests of a country great in its resources, in its position, in its hardy and energetic population, in the traditions which spur its people onwards, and in those circumstances of desertion and contumely which have cast upon the Colonists unusually large duties, and left in their minds proportionately high aspirations. We shall be told that these proposals will entail on posterity an enormous burden. Granted, —but they will give to posterity enormous means out of which to meet it. Every Member has constituents whom he represents; he will he justified in assuring them that the measures we propose will benefit every person in the community, from the highest to the lowest, from the richest to the poorest. They will lead the Colony to prosperity, and enable it to do justice to its splendid resources.

Other Itema of Revenue.

Expenditure: Colonial and Provincial Capitation, out of which Provincial Charges defrayed.

Revenue.

Surplus Revenue over Expenditure, together with amount from other sources. Total surplus, £78,668 15s. 10d., irrespective of advances Wanganui Bridge and Patea settlers.

. Surplus to be disposed of next year, by reducing taxation, or Colonial Debt.

29

EINANCIAL STATEMENT.

TABLES REFERRED TO

BT THE HONORABLE THE COLONIAL TREASURER

IN THE EINANCIAL STATEMENT.

Page. A. Debentures and Treasury Bills in circulation, showing Sinking Fund accrued, Balance of Indebtedness, arid Annual Charge of General and Provincial Governments ... ... ... ... ... 1 B. Probable Expenditure of Year 18(59-70, showing Actual Expenditure to 31st March, Estimated Expenditure to 30th June, with probable Savings or Excess ... ... ... ... ... ... 3 B. (1.) Receipts and Expenditure of Special Fund, from Ist July, 18G9, to 31st March, 1870 ... ... 17 (2.) Receipts and Expenditure of Land Fund, from Ist July, 18C9, to 31st March, 1870... ... ... 17 (3.) Receipts and Expenditure of Trust Fund, from Ist July, 1869, to 31st March, 1870... ... ... 17 (4.) Condensed Statement of Consolidated Loan Account ... ... ... ... ... ... 18 C. Statement of Unauthorized Expenditure, from Ist July, 1869, to 30th June, 1870 ... ... ... 19 D. Expenditure for Defence Purposes from Ist July, 1869, to 31st March, 1870 ; with Estimated Expenditure, including Liabilities, to 30th June, 1870 ... ... ... ... ... ... ... 2.1 E. Expenditure of Consolidated Fund, from Ist July, 1869, to 31st Marcli, 1870 ... ... ... ... 22 F. Statement in Explanation of Sums Payable and Paid to Provinces, from Ist July, 1869, to 31st March, 1870 23 Gr, Statement of Receipts and Expenditure of the Public Account, from Ist July, 1869, to 31st March, 1870 ... 24 H. Receipts of Consolidated Fund, from Ist July, 1869, to 31st March, 1870, with Estimated Fourth Quarter added ... ... ... ... ... ... ... ... ... ... ... 25 (1.) Comparative Return of Customs Revenue at the several Ports in New Zealand, for the Three Quarters ended 31st March, 1868-9 and 1869-70. ... ... ... ... ... ... ... 26 (2.) Return of Gross Customs Revenue for each Quarter, from Ist July, 1858, to 31st March, 1870; with Estimated Amount for Quarter ending 30th June, 1870 ... ... ... ... ... 2G (3.) Statement of Revenue from Stamp Duties for Three Quarters, ended 31st March, 1870 ... ... 27 (4.) Return of Value of Imports and Exports for each Port of New Zealand, for the Three Quarters ended 31st March, 1870 ... ... ... ... ... " ... ... 28 (5.) Return of Value of Imports and Exports of each Province, for the Three Quarters ended 31st March, 1870 ... ... ... ... ... ... ... ... ... ... ... 29 (6.) Return of Flour and Grain Imported into and Exported from New Zealand, for the Ten Years ended 31st December, 1860 ... ... ... ... ... ... ... ... ... 29 (7.) Comparative Return of Quantity and Value of Gold Exported from Ports and Provinces of Xew Zealand, for the Three Quarters ended 31st March, 1868-9 and 1869-70 ... ... ... ... 30 (8.) Return showing Amount and Value of Gold Exported during Financial Year, from 1856-7 to 1869-70 31 (9.) Return showing Vulue of New Zealand Flax, exported in the Years 1860 to 31st March, 1870 ... 32 Estimates. Alterations in Takiej?.

B.—No. 2.

Table A. STATEMENT showing the Debentures and Treasury Bills in Circulation under the several Loans of the New Zealand Government, the Amount of Sinking Eund Accrued, the Balance of Indebtedness, the Amount of the Annual Charge, and the proportions in which, the several amounts are divisible between the General and Provincial Governments.

33

TABLES REFERRED TO IN THE FINANCIAL STATEMENT.

New Zealand OVEENMEHT. Act3 authorizing the Loan. Amount of Debentures, &c, in circulation on 30 April, 1870. Sinking Fund accrued to 31 Dec, 1809. Total Debt after deducting Sinking Fund. Interest. Sinking Fund. Tot c t™ ■£ s. d. 316 0 0 156,000 0 0 95,500 0 0 1,656,800 0 0 £ s. d. £ s. d. 316 0 0 116,587 3 3 78,500 0 01 1,608,293 7 4 £ s. d. £ s. d. £ B. d. Ordinance of Legislative Council "New Zealand Loan Act, 1856" ... "New Zealand Loan Act, 1860" ... "New Zealand Loan Act, 1863" ... " New Zealand Debentures Act, 1864," and Amendment Act, 18G5 " Consolidated Loan Act, 1867" ... Treasury Bills 39,412 16 9 17,000 0 0 48,506 12 8 6,240 0 0 5,730 0 0 ! 83,726 0 0 3,120 0 0 1,910 0 0 22,454 0 0 9,360 0 0 7,640 0 0 106,180 0 0 150 0 0 1,911,100 0 0 528,000 0 0 27,83215 10 150 o o; 1,883,267 4 2 528,000 0 0 95,555 0 0 31,806 6 7 19,111 0 0 114,666 0 0 31,806 6 7 4,215,113 14 9 223,057 6 7 46,595 0 0 269,652 6 7 4,347,866 0 0 132,752 5 3 lOVIKCIAL Gi lYEENMEHTS. Auckland — " Auckland Loan Act, 1863 " "New Zealand Loan Act, 1856"... " Consolidated Loan Act, 1867 "... 38,750 0 0 00,000 0 0 502,350 0 0 22,738" 3 7; 7,316 1 9 38,750 0 0 67,261 16 5 495,033 18 3 2,325 0 0 3,600 0 0 25,117 10 0 775 0 0 1,800 0 0 5,023 10 0 7,598 10 0 3,100 0 O 5,400 0 O 30,141 0 O 38,641 0 0 Total, Auckland 631,100 0 0 30,054 5 4 601,045 14 8 31,042 10 0 Takanaki— "Consolidated Loan Act, 1867" ... 21,635 18 3 1,250 0 250 0 0 1,500 0 O 25,000 0 0 364 1 9 Total, Taranaki 25,000 0 364 1 9 24,635 18 3 1,250 0 250 0 0 1,500 0 O Wellington— " New Zealand Loan Act, 1856"... "Consolidated Loan Act, 1867" ... " Consolidated Loan Application Act, 1869" "Wellington Loan Act, 1862," No. 11 "Wellington Loan Act, 1866," No. 3 "Wellington Loan Act, 1806," No. 11 27,000 0 0 97,600 0 0 72,000 0 0 6,821 9 0 1,421 8 4 3,247 10 0 20,178 11 0 96,178 11 8 72,000 0 0 6,352 10 0 1,080 0 0 4,880 0 0 3,600 0 0 7G8 0 0 540 0 0 976 0 0 720 0 0 384 0 0 1,620 0 0 5,856 0 0 4,320 0 0 1,152 0 0 9,600 0 0 13,500 0 0 1,089 7 0 12,419 13 0 1,080 0 0 270 0 0 1,350 0 0 30,000 0 0 30,000 0 0 3,000 0 0 2,890 0 0 3,000 0 0 17,298 0 0 Total, Wellington 219,700 0 0 12,579 14 4 237,129 5 8 14,408 0 0 Hawke's Bat— "New Zealand Loan Act, 1856"... " Consolidated Loan Act, 1867 "... 27,000 0 0 60,000 0 0 6,821 9 0 873,10 4 20,178 11 0 59,126 3 8 1,080 0 0 3,000 0 0 540 0 0 600 0 0 1,620 O 0 3,600 0 0 Total, Hawke's Bay 79,304 14 8 4,080 0 0 1,140 0 0 5,220 0 0 87,000 0 0 7,695 5 4 10

B.—No. 2.

34

FINANCIAL STATEMENT.

Tal ble A- — continued. Statement showing.. Debentures i: i Circulation, &c, (continued). Peotinc: cal Goteen: :eh"ts (continued). Acts authorizing the Loan. Amount of Debentures, &c, in circulation on 30 April, 1870. Sinking Fund accrued to 31 Dec, 1869. Total Debt after deducting Sinking B'und. Interest. Sinking Fund. Total Annual Charge. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Nelson — "New Zealand Loan Act, 1856"... " Consolidated Loan Act, 1867 "... "Nelson Waterworks Loan Act, 1864" 30,687 0 0 30,900 0 0 7,752 19 2 450 0 4 22,934 0 10 30,449 19 8 1,227 9 8 1,545 0 0 613 14 9 300 0 0 1,841 4 5 1,854 O 0 17,400 0 0 17,400 0 0 1,392 0 0 348 0 0 1,740 0 0 Total, Nelson... 78,987 0 0 70,784 0 6 4,164 9 8 1,270 14 9 5,435 4 5 8,202 19 6 Maelbobou&h — "New Zealand Loan Act, 1856"... 10,696 17 5 14,313 0 0 3,616 2 7 572 10 4 286 5 3 858 15 7 Total, Marlborough 14,313 0 0 3,616 2 7 10,696 17 5 572 10 286 5 3 858 15 7 CaNTEEBTTEY— "New Zealand Loan Act, 1856"... " Consolidated Loan Act, 1867 "... " Canterbury Loan Ordinance, 1856" "Canterbury Railway Loan Act, 1860" " Canterbury Loan Ordinance, 1862" 51,230 15 5 545,965 7 8 7,546 3 1 12,943 5 5 7,951 5 10 * see note. 38,287 10 0 538,014 1 10 7,546 3 1 2,049 4 7 27,298 5 5 603 13 10 1,024 12 4 5,459 13 1 * see note. 3,073 16 11 32,757 18 6 603 13 10 60,853 16 11 do. 60,853 16 11 3,651 4 7 do. 3,651 4 7 16,407 13 10 do. 16,407 13 10 984 9 2 do. 984 9 2 Total, Canterbury 20,894 11 3 41,071 3 0 682,003 16 11 661,109 5 8 34,586 17 7 6,484 5 5 Westlahd — " New Zealand Loan Act, 1856"... "Consolidated Loan Act, 1867" ... " Canterbury Loan Ordinance, 1856" " Canterbury Railway Loan Act, 1860" " Canterbury Loan Ordinance, 1862" 22,769 4 7 146,384 12 4 3,353 16 11 5,752 11 3 2,131 18 0 * see note. 17,016 13 4 144,252 14 4 3,353 1G 11 910 15 5 7,319 4 7 268 6 2 455 7 8 1,463 16 11 * see note. 1,366 3 1 8,783 1 6 268 6 2 27,046 3 1 do. 27,046 3 1 1,622 15 4 do. 1,622 15 4 7,292 6 2 do. 7,292 6 2 437 10 9 do. 437 10 9 Total, Westland 12,477 16 10 206,846 3 1 7,884 9 3 198,961 13 10 10,558 12 3 1,919 4 7 Otaqo— -"New Zealand Loan Act, 1856"... " Consolidated Loan Act, 1867 "... " Otago Loan Ordinance, 1861-2 " "Otago Loan Ordinance, 1862 "... " Otago Harbour Loan Ordinance, 1862" " Otago Public Buildings Loan Ordinance, 1862 " ... 63,000 0 0 443,000 0 0 41,100 0 0 145,500 0 0 15,916 14 6 6,451 14 8 8,668 15 5 7,200 0 0 47,083 5 6 436,548 5 4 32,431 4 7 138,300 0 0 2,520 0 0 22,150 0 0 3,288 0 0 8,730 0 0 1,260 0 0 4,430 0 0 1,233 0 0 1,455 0 0 3,780 0 0 26,580 0 0 4,521 0 0 10,185 0 0 46,650 0 0 8,439 18 7 38,210 1 5 3,732 0 0 1,399 10 0 5,131 10 0 40,450 0 0 6,243 17 0 34,206 3 0 3,236 0 0 1,213 10 0 4,449 10 0 Total, Otago ... 779,700 0 0 52,921 0 2 726,778 19 10 43,G56 0 0 10,991 0 0 54,647 0 0 Southland — "New Zealand Loan Act, 1856"... "Consolidated Loan Act, 1867" ... " Consolidated Loan Application Act, 1869" 18,000 0 0 428,700 0 0 4,547 12 9 6,243 9 4 13,452 7 3 422,456 10 8 720 0 0 21,435 0 0 360 0 0 4,287 0 0 1,080 0 0 25,722 0 0 7,000 0 0 7,000 0 0 350 0 0 70 0 0 420 0 0 Total, Southland 453,700 0 0 10,791 2 1 442,908 17 11 22,505 0 0 4,717 0 0 27,222 0 0 Total— <3eneral Provincial 4,347,866 0 0 3,208,350 0 0 132,752 5 3 355,003 11 7 4,215,113 14 9 3,053,355 8 5 223,057 6 ' 166,823 19 H 46,595 0 0 37,547 0 0' 269,652 G 7 204,370 19 10 7,556,216 0 0 287,755 16 10 7,268,469 3 2 389,881 6 5 84,142 0 6 t 474,023 6 5 * 2V._g._The Sinking Fund ii remainder is recommended to be re! i sufficient to p: leased. •ovide for the ioan of 1856, 'hich is due o: 28th September, 1872. The

B.—No. 2.

Table B. STATEMENT showing the Probable Expenditure of the Financial Year 1869-70, as detailed in the Annual Estimates; the Actual Expenditure brought to account to the 31st March; the Estimated Sum required to meet Liabilities to the 30th June, 1870; and the Probable Saving or Excess.

35

FINANCIAL STATEMENT.

Amount op Vote ob Estimate. Credits to Tote. Actual Expenditure to 31st Mabch. Estimated ExPENDITUKE TO 30th June, including Liabilities! to that date. Total expesditube. Saving. Excess. CIVIL LIST. £ 4,500 7,700 8,300 7,000 s. d. 0 0 0 0 0 0 0 0 £ s. d. £ 3,000 5,395 5,499 3,211 s. d. 0 0 1 3 9 6 3 2 £ s. d. 1,500 0 0 2,304 18 9 2,800 10 6 3,788 16 10 £ 4,500 7,700 8,300 7,000 s. 0 0 0 0 d. 0 0 0 0 £ s. d. £ s. d. Governor Judges Establishment of General Government Native Purposes Total Civil List 27,500 0 0 17,105 13 11 10,394 6 1 27,500 0 0 PERMANENT CHARGES. Liabilities and Engagements, 1868-69. Interest and Sinking Eund Under Acts of the General Assembly — General Charges Provincial Charges Civil List Fund Account Not estimated 3,869 0 0 2,100 17 10 300 0 0 2,400 17 10 1,468 2 2 Ditto Ditto Ditto 13 19 0 4,123 2 4 362 1 1 4,717 11 10 4,123 2 4 362 1 1 5,301 13 1 4.109 3 362 1 5,301 13 4 1 1 584 1 3 Total Permanent Charges —Liabilities 3,882 19 0 11,303 13 1 884 1 3 12,187 14 4 1,468 2 2 9,772 17 6 PERMANENT CHARGES, 1869-70. Interest and Sinking Fund — General Charges Ditto Provincial Charges Ditto Under Acts of the General Assembly — General Charges Ditto Provincial Charges 260,559 2 7 Not estimated 157,416 0 0 Not estimated } 334,005 1 6-j 260,559 2 4,966 8 157,416 0 5,470 0 7 3 0 0 4,966 8 3 94,406 9 4 5,470 0 0 23,824 0 10 Not estimated Ditto 8 12 6 15,281 17 862 13 1,812 9 7 2 9 9,750 7 2 9,083 0 1 1,040 16 3 25,032 4 9,945 13 2,853 6 9 3 0 1,199 11 9,945 13 2,853 6 5 3 0 Total Permanent Charges .. 441,799 3 5 8 12 6 112,363 9 10 353,879 5 0 466,242 14 10 \ 24,434 18 11

B.—No. 2.

36

FINANCIAL STATEMENT.

Table B— continued. STATEMENT showing the Probable Expenditure, &c. — contim ed. Vote. Amount op Vote oe Estimate. Credits to Vote. Estimated Actual Expenditure to Expenditure to 30tii June, in31st March. ciudinq- Liabilities to that dats. Total Expenditure. Saving-. Excess. LIABILITIES AND ENGAGEMENTS, 1868-9. Class I.—Public Domains an td Buildings. General Charges :— Salaries Contingencies Government House and Offices Furniture for new Government House £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. 1 2 3 4 106 10 11,000 1,200 0 0 0 0 0 0 0 0 i 56 1 10 211 2 1 4,543 17 0 6,456 1,200 3 0 0 0 56 211 11,000 1,200 1 10 2 1 0 0 0 0 49 18 2 201 2 1 Total Class I. 12,316 0 0 4,811 0 11 7,656 3 0 12,467 3 11 49 18 2 201 2 1 5 6 7 8 9 10 11 12 Class II. —Public Departments. General Charges :— Governor's Establishment, Salaries . . Legislative Departments „ Executive „ „ Ditto, Contingencies Stamp Office, Salaries Printing Office „ Ditto, Extra Assistance, Overtime, &c. Geological Survey Department, Salaries • . . Ditto, Field Expenses, &c. Provincial Charges ::— ..Paymasters'" Departments., Salaries . . Ditto, Clerical Assistance and Contingencies Stamp Departments, Salaries Ditto, Contingencies Electoral Departments, Salaries Ditto, Printing Electoral Rolls, &c. . . 134 195 630 50 50 357 479 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 12 0 | 242 18 11 359 6 0 644 11 5 41 15 8 42 12 2 355 3 4 515 3 2 116 13 4 5.2 2 10 7 7 10 242 18 11 359 6 0 644 11 5 41 15 8 50 0 0 355 3 4 515 3 2 116 13 4 52 2 10 8 4 1 16 0 6 47 17 4 8 8 2 108 18 11 162 14 0 14 11 5 36 3 2 13 117 100 0 0 0 0 1-4-15 110 0 0 110 8 4 110 8 4 0 8 4 16 17 18 19 160 111 168 141 500 0 0 0 0 0 0 0 0 0 0 74 13 10 166 6 8 67 17 10 408 6 8 610 9 11 74 13 10 166 6 8 67 17 10 408 6 8 610 9 11 85 6 100 2 2 2 55 6 8 267 6 8 110 9 11 ■ Total Class II. 3,302 0 0 1 12 0 3,808 10 1 7 7 10 3,815 17 11 243 13 2 755 19 1

B.—No. 2.

37

FINANCIAL STATEMENT.

Table B— continued. STATEMENT showing the Probable Expenditure, &c. — continued. Vote. Amount ov Yote OB Estimate. Credits to Vote. Estimated Actual Expenditure to expenditure to 30th june, in31st Maech. cluding Liabilities to that date. Total Expenditure. Saving. Excess. I 20 21 22 Class III. —Law and Justice. General Charges :— Colonial Secretary's Office (Judicial Branch), Salaries . . Ditto, Travelling Expenses, Judges, &c; Registrars of Land, &c., Salaries .. ! Provincial Charges: — Registrars of Land, &c, Salaries f Supreme Courts "1 .<-, , . I xv 1, ■ , Salaries •< District ,, > ,. I -n -\ir ■ i. j. I Contingencies.. Magistrate J b Criminal Prosecutions . . . . | Coroners .. .. Contingencies .. .. .. j 155 100 35 3,543 100 200 100 200 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 127 2 6 25 0 8 32 10 0 745 2 11 127 2 6 25 0 8 32 10 0 745 2 11 27 17 74 19 2 10 6 4 0 745 2 11 23 24 2,983 11 6 100 0 0 2,983 11 6 100 0 0 559 8 6 25 20 27 254 0 2 415 18 0 385 19 8 254 0 2 415 18 0 385 19 8 54 0 2 315 18 0 185 19 8 Total Class III. 4,433 4,433 0 0 0 0 5,069 5 5 5,069 5 5 664 15 4 1,301 0 9 28 29 30 31 32 33 34 35 36 37 38 Class IV. —Postal. General Charges :—• General Post Office, Salaries Arrears, Suez Line f Intercolonial Steam Subsidies (^Interprovincial „ J Contingencies Provincial Charges: — Auckland, Salaries and Mail Contracts Taranaki „ „ Hawke's Bay „ „ Wellington „ „ Nelson „ „ MaiTborough ,, „ Canterbury ,, „ 236 7,736 : 1,525 100 1,181 62 259 657 521 250 2,321 236 0 0 7,736 14 10 1,525 0 0 100 0 0 1,181 0 0 62 0 0 259 0 0 657 0 0 521 0 0 250 0 0 2,321 0 0 0 14 0 0 0 0 0 0 0 0 0 0 10 0 0 0 0 0 0 0 0 0 0 7 0 234 11 1,500 0 81 4 9 7 38 13 274 18 648 1 356 9 235 6 904 13 8 0 6 6 4 7 8 3 8 7 2,173 19 9 234 11 2,173 19 1,500 0 81 4 9 7 38 13 274 18 648 1 356 9 235 6 904 13 8 9 0 6 6 4 7 8 3 8 7 1 8 5,562 15 25 0 19 2 1,171 12 23 6 4 1 0 6 6 8 15 18 7 8 18 164 10 14 13 1,416 6 4 9 4 5 Carried forward 14,848 : 14,848 14 10 14 10 0 7 0 4,283 6 9 2,173 19 9 6,457 6 6 8,407 13 11 15 18 7

B.—No. 2.

38

EINANCIAL STATEMENT.

Table B— continued. STATEMENT showing the Probable Expendit he, &c. — continued. Vote. Amount of Vote oe Estimate. Credits to Vote. ACTTTAIi expenditttbe to 31st Maeoh. Estimated expendituee to 30th June, inciiUDisa Liabilities TO THAT DATE. Total expendittjbe. Saving. Excess. Brought forward Westland, Salaries and Mail Contracts Otago „ „ Southland „ „ Contingencies General Charges :— Telegraph Department, Salaries Ditto; Wanganui Line (130 miles) . . Ditto, Cambridge Line (12 miles) .. Provincial Charges :— Telegraph Departments, Salaries Ditto, Maintenance of Lines, &c. General Charges :— Marine Department, Salaries Ditto, Contingencies Lighthouses (Works in progress), — ■ Nugget Point Lighthouse Cape Campbell „ Farewell Spit „ Manukau Light Flat Rock Beacon £ s. d. 14,848 14 10 609 0 0 2,900 0 0 380 0 0 500 0 0 £ s. 0 7 d. 0 £ s. d. 4,283 6 9 701 10 10 1,664 7 6 360 0 0 639 14 0 £ s. 2,173 19 d. 9 £ s. d. 6,457 6 6 701 10 10 1,664 7 6 360 0 0 639 14 0 £ s. d. 8,407 13 11 £ s. d. 15 18 7 92 10 10 39 40 41 42 1,235' 12 6 20 0 0 139 14 0 43 44 45 167 0 0 5,000 0 0 200 0 0 263 12 9 201 18 6 4,440 11 8 199 10 0 409 8 4 201 18 6 4,850 0 0 199 10 0 413 12 9 0 10 0 34 18 6 46 47 1,117 0 0 400 0 0 1,065 3 10 915 14 2 1,065 3 10 915 14 2 51 16 2 515 14 2 48 49 366 0 0 200 0 0 331 13 4 361 1 5 331 13 4 361 1 5 34 6 8 161 1 5 50 51 52 53 54 3,080 0 0 3,210 0 0 4,085 0 0 120 0 0 480 0 0 2,666 17 5 4,002 3 4 3,395 7 0 83 9 4 136 9 0 573 2 600 0 689 13 6 10 393 11 7 0 0 8 0 3,240 0 0 4,602 3 4 4,085 0 0 90 0 0 530 0 0 160 0 0 1,392 3 4 30 0 0 50 0 0 .15 Total Class IV. Class V.—Customs. General Charges :— Inspector's Department, Chatham Islands, Salaries and Contingencies Provincial Charges :— ■ Auckland, Salaries, &c. 37,662 14 10 ; . ; 132 1 8 263 19 9 25,448 18 1 4,846 5 4 30,295 3 5 10,193 12 0 2,562 0 10 89 10 6 89 10 6 42 11 2 i 550 0 0 544 14 0 544 14 0 5 6 0 5G Carried forward 682 1 8 634 4 6 634 4 6 47 17 2

B.—No. i

39

FINANCIAL STATEMENT.

Taole B— continued. TATEMENT showing the Probable Expenditure, &c. — contim d. Vote. Amount 01 Vote ok Estimate. I Credits to Tote. Actual ExPESDITUEE TO 31st Maech. Estimated ExPENDITUEE TO 30th Juxe, ixcludixg- Liabilities to that date. Total ExPEJiDITUBE. Satikg. Excess. £ s. d. 682 1 8 35 0 0 95 0 0 350 0 0 250 0 0 65 0 0 375 0 0 400 0 0 450 0 0 200 0 0 161 12 5 .€ s. d. £ s. 634 4 35 0 93 15 328 13 305 12 77 1 340 13 95 15 510 8 165 0 380 1 d. 6 0 0 8 4 8 4 0 4 0 9 £ S. d. £ s. 634 4 35 0 93 15 328 13 305 12 77 1 340 13 95 15 510 8 165 0 380 1 d. 6 0 0 8 4 8 4 0 4 0 9 £ s. 47 17 d. 2 £ s. d. Brought forward 57 58 59 60 61 62 63 64 65 66 Taranaki „ Hawke's Bay „ Wellington „ Nelson „ Marlborougl) „ Canterbury „ "Westland „ Otago „ Southland „ Contingencies 1 5 21 6 34 6 304 5 0 4 8 0 55 12 12 1 4 8 60 8 4 35 0 0 218 9 4 Total Class V.. . 3,063 14 1 2,966 o 7 2,966 5 7 444 0 2 346 11 8 Class VI. —Native. General Charges :— Contingencies Salaries of Officers 07 68 50 2,262 0 0 0 0 0 10 2 0 0 0 50 0 1,417 11 0 3 844 8 9 50 2,262 0 0 0 0 0 10 2 0 0 0 Total Class VI. 2,312 0 0 10 2 0 1,467 11 3 844 8 9 2,312 0 0 10 2 0 69 70 Class VII. —Miscellaneous. General Charges :— Sundry Charges Compensation to Miss Briggs and others Payment of Treasury Bills (a) Judge Johnston'' s " New Zealand Justice of the Peace " 1,000 0 0 27 18 7 3,706 15 2 293 4 10 4,000 0 0 2,972 1 5 71 72 1,369 16 6,000 0 4 0 1,369 16 4 1,369 16 4 6,000 0 0 450 0 0 673 0 0 673 0 0 223 0 0 .-. . Carried forward 8,819 16 4 27 18 7 3,706 15 2 "2,336 1 2 6,042 16 4 6,000 0 0 3,195 1 5 (a) Amount paid, .£6,000, —charged on Special Eund.

B.—No. 2.

40

FINANCIAL STATEMENT.

Table I i— continued. TATEMENT si owing the Pro: sable Expenditure, &c. — continw >.d. Amount op Vote ok Estimate. Credits to Vote. Actuai Expenditure to j 31st March, i Estimated Expenditure to 30th June, in!1udino- Liabilities to that date. Total Expenditure. 'OTE. Satins-. Excess. Brought forward Provincial Charges :— Native Lands Court £ s. 8,819 16 d. 4 £ s. 27 18 d. 7 £ s. 3,706 15 d. 2 £ 2,336 s. 1 d. 2 £ s. 6,042 16 d. 4 £ 6,000 s. 0 d. 0 £ 3,195 s. 1 d. 5 73 450 0 0 692 2 6 692 2 6 242 2 6 Total Class VII. 9,269 16 4 27 18 7 4,398 17 8 2,336 1 2 6,734 18 10 6,000 0 0 3,437 3 11 74 75 76 77 78 79 Class VIII. —Defence. General Charges :— Militia and A rolunteers, Salaries Armed Constabulary;, Pay. . Ditto, Ammunition Ditto, " Strut" and " St. Kilda " .. Ditto, Transport, Rations, &c. Ditto, Arrears of Pay, &c. Provincial Charges :— Militia and Volunteers, Salaries Ditto, Capitation Grant 224 29,026 7,331 500 16,400 14,441 0 0 0 0 0 0 0 0 0 0 0 0 101 14 22 11 4,157 6 8 0 3 1,046 11 8 5,918 10 3 7,892 18 1 1,801 6.11 8,408 15 9 33,090 15 7 8,281 9 9 107 1 11 298 13 1 1,046 11 14,200 0 8,000 0 2,100 0 8 0 0 0 14,826 0 0 822 11 8 567 5 4 j 1,600 0 0 T 7,500 8 8 49,000 0 0 13,979 2 9 80 81 578 500 0 0 0 0 871 14 2 1,329 17 5 78 5 10 200 0 0 950 0 1,529 17 0 5 372 0 0 1,029 17 5 Total Class VIII. 69,000 0 0 4,281 11 11 60,360 9 10 16,465 19 3 76,826 9 1 14,826 0 0 18,370 17 2 82 83 Class IX. Confiscated Lands :— Unexpended Balance Wellington Debentures :— ■ Amount to be paid off Nelson Debentures :— Amount to be paid off Colonial 8 per cent. Debentures :— Amount to be paid off .. (b) Southland Debts :— Amounts yet to be paid 6,500 17,550 0 0 0 0 1,447 7,900 4 0 7 0 552 15 9,650 0 5 0 2,000 17,550 0 0 0 0 4,500 0 0 84 1,000 0 0 1,000 0 0 1,000 0 0 85 325 0 0 325 0 0 86 6,000 0 0 8,111 8 4 1,888 11 8 10,000 0 0 4,000 0 0 31,375 0 0 18,458 12 11 12,091 7 1 30,550 0 0 4,825 0 0 4,000 0 0 Amount iaid. £175,— char{ ;ed on S' leoial Fund.

B.—No. 2.

41

FINANCIAL STATEMENT.

Table B— continued. STATEMENT showing the Probable Expenditure, &c. — continm d. 'I Vote, i I Amount op Vote ok Estimate. Ckedits to Vote. Estimated Actual Expenditure to Eppenditure to 30th Juke, in31st Mabch. clttding Liabilities to that date. Total expenditube. Saving. Excess. H FINANCIAL YEAR, 1869-70. Class I.—Public Domains and Buildings. General Charges :— Public Domains and Buildings . . j £ 2,480 s. 0 a. o £ s. d. £ s. 2,100 14 A. 8 £ 979 S. 5 d. 4 £ 3,080 s. 0 d. 0 £ s. d. £ s. d. 600 0 0 87 3,080 0 0 600 0 0 Total Class I,.'. 2/180 2,480 0 0 | 0 0 2,100 14 8 979 5 4 _ 88 89 90 91 92 93 Class II. —Public Departments. General Charges :— Governor's Establishment]. . Legislative Departments Executive Stamp Office .. .. <c)\ Printing Office Geological Survey Provincial Charges :— Receiver, Westland .. Registrars . . • • Paymaster's Department Stamp „ Electoral „ 1,600 12,309 7,871 874 5,627 2,450 400 2,750 2,455 1,845 3,483 1,600 0 0 12,309 4 0 7,871 13 0 874 15 0 5,627 0 0 2,450 0 0 0 4 13 15 0 0 0 0 0 . 0 i 6 0 16 2 11 1 10 0 6 0 1,033 11 8 12,311 6 6 5,562 18 4 714 12 2 3,667 13 4 1,078 16 1 566 8 4 1,638 13 6 2,008 1 8 305 7 10 1,959 6 8 921 3 11 1,600 0 13,950 0 7,571 0 1,020 0 5,627 0 2,000 0 0 0 0 0 0 0 303 450 4 0 6 0 1,640 0 143 15 0 0 94 95 96 97 98 400 0 0 2,750 0 0 2,455 0 0 1,845 0 0 3,483 6 8 229 6 1 2,160 6 7 1,582 8 9 1,241 5 3 3,066 2 4 116 13 4 1,139 13 5 872 11 3 688 14 9 508 18 4 345 19 3,300 0 2,455 0 1,930 0 3,575 0 5 0 0 0 8 54 0 7 550 0 85 0 0 0 91 14 0 Total Class [II. . 41,665 i 18 I I 43,374 0 1 807 5 if 2,418 15 0 41,665 18 8 96 11 6 32,648 Tf 1 10,725 13 0 I Class ill. —Law and Justice. General Charges Provincial Charges :— Supreme Court: — Auckland Taranati . . . . {d) ; Hawke's Bay 6,335 1,385 187 145 5 10 j 0 7 10 3 0 ! 500 0 0 99 6,335 10 0 5,879 8 6 956 1 6 6,835 10 0 i 100 101 102 1,385 0 187 10 145 0 0 0 0 899 11 8 102 11 0 90 12 11 485 8 84 19 51 13 4 0 4 1,385 0 187 10 142 6 0 0 3 i 1 2 13 9 Carried forward 8,053 8,550 6 3 2 13 9 500 0 0 8,053 0 0 6,972 4 1 1,578 2 2 (<?) £87 10s. transferred by Ore .er in Council from V< ite 118 to Vote 101. £250 transferred by Order in Council from Tote 97 to Vote 91. c,

B.—No. 2.

42

EINANCIAL STATEMENT.

Table B— continued. STATEMENT showing the Probable Expenditure, fee. — continued. Vote. Amount oe Vote or Estimate. 1 Credits of Vote. Estimated Actual Expenditure to < . ] Expenditure to \ 30th June, in31st March. Icludixg- Liabilities; to that date. Total Expenditure. Saving-. Excess. 103 104 ! 105 106 107 108 ! 109 110 Brought forward Wellington Nelson Maiiborough Canterbury. . Westland Otago Southland Contingencies District Court: — Auckland Nelson Westland Otago Gold Fields .. Contingencies Travelling Expenses . . Resident Magistrates'" Courts :— Auckland Taranaki (a) Hawkers Bay Wellington Nelson Maiiborough Canterbury Westland Otago Southland Contingencies Petty Sessions Courts Criminal Prosecutions ■ * ! £ s. 8,053 0 688 0 307 0 50 0 1,410 0 430 0 1,251 0 135 0 400 0 250 0 340 0 940 0 1,100 0 60 0 200 0 4,220 0 222 10 1,080 0 2,707 12 1,020 0 520 0 3,665 12 1,956 0 4,229 0 710 0 1,200 0 400 0 6,000 0 a. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 £ s. d. £ s. a. 6,972 4 1 481 10 3 192 10 0 33 6 8 ! 940 0 0 292 3 4 834 0 0 84 3 4 141 10 2 £ s. a. 1,578 2 2 241 0 0 114 10 0 : 16 13 4 470 0 0 137 16 8 377 0 0 50 16 8 ! 158 9 10 £ s. 8,550 6 722 10 307 0 50 0 1,410 0 430 0 1,211 0 135 0 300 0 d. 3 3 0 0 o '0 0 0 0 £ s. 2 13 40 0 101 10 a. 9 0 0 £ s. 500 0 34 10 a. o 3 1 10 0 111 112 113 114 115 116 166 13 4 226 13 4 656 13 4 753 6 8 77 4 8 125 7 10 83 6 8 113 6 8 328 6 8 366 13 4 22 15 4 14 12 2 250 0 340 0 985 0 1,120 0 100 0 140 0 0 0 0 0 0 0 60 0 0 45 0 20 0 40 0 0 0 0 117 118 119 120 121 122 123 124 125 126 127 128 129 4 3 1 0 4 0 2,635 0 0 170 15 8 513 7 5 1,561 9 8 680 0 0 338 6 8 2,412 15 9 1,309 8 8 2,719 6 8 433 0 0 725 4 2 146 16 3 3,690 17 6 1,545 0 0 | 53 6 8 244 13 4 1,192 3 8 340 0 0 156 13 4 ! 1,252 16 3 534 4 4 1,359 13 4 180 0 0 474 15 10 103 3 9 2,309 2 6 4,180 0 224 2 758 0 2,753 13 1,020 0 495 0 3,665 12 1,843 13 4,079 0 613 0 1,200 0 250 0 6,000 0 0 4 9 4 0 0 0 0 0 0 0 0 0 44 3 321 19 25 0 112 7 150 0 97 0 3 6 150 0 4 3 0 0 0 0 8 0 0 12 46 1 4 4 3 6 8 Carried forward • ? 43,544 14 43,544 14 0 0 10 0 0 29,313 15 5 13,819 2 6 43,132 17 11 1,108 0 0 686 3 11

B—No. 2.

43

FINANCIAL STATEMENT.

Table £ i— continued. STATEMENT showing the Pro: 3ABLE EXPENDIT he, &c. — continued. Vote. amouxt of Vote ok Estimate. Credits oe YOTE. ACTl'AL Expenditure to 31st Maech. Estimated Expenditure to 30th June, orcludixg Liabilities TO THAT DATE. Total expenditure. Saving. Excess. I 130 131 132 133 134 135 136 137 138 139 140 141 Brought forward Coroners, &c. Land and Deeds Registry :— Auckland Taranaki Hawke's Bay Wellington Nelson Marlborougli Canterbury Westland Otago Southland Rent and Contingencies . . £ s. . . | 43,544 14 . . I 2,200 0 . . | 2,016 0 275 0 350 0 876 10 630 0 350 0 1,335 0 375 0 1,325 0 350 0 2,000 0 d. 0 0 0 0 0 0 0 0 0 0 0 0 0 £ 10 s. 0 d. 0 [ £ s. d. 29,313 15 5 1,363 17 0 1,205 10 6 183 G 8 233 3 10 583 9 0 420 0 0 254 3 4 890 0 0 256 5 0 883 6 8 233 6 8 1,234 3 10 £ s. d. 13,819 2 6 736 3 0 655 0 0 91 13 4 116 16 2 293 1 0 210 0 0 45 16 8 445 0 0 | 125 0 OS 441 13 4 116 13 4 765 16 2 £ s. d. 43,132 17 11 2,100 0 0 1,860 10 6 275 0 0 350 0 0 876 10 0 630 0 0 300 0 0 1,335 0 0 381 5 0 1,325 0 0 350 0 0 2,000 0 0 £ 1,100 100 155 s. 0 0 9 d. 0 0 6 £ 686 s. d. 3 11 50 0 0 6 5 0 i Total Class III. . . 55,627 4 55,627 4 0 0 10 0 0 37,054 7 11 17,861 15 6 54,916 3 5 1,413 9 6 692 8 11 142 143 144 145 146 147 148 149 150 151 Class IV. —Postal. General Charges, Postal, &c. :— ■ General Post Office Conveyance of Mails by Sea Provincial Chai'ges :— Auckland Taranaki Hawke's Bay "Wellington Nelson Marlborougli Canterbury Westlaud 3,620 0 . . 30,125 0 7,666 0 400 0 1,647 0 4,276 0 3,547 0 1,478 0 . . ! 10,514 0 5,238 0 3,620 30,125 7,666 400 1,647 4,276 3,547 1,478 10,514 5,238 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 5 0 2 0 5 2,735 11 3 10,876 4 5 6,075 12 6 232 9 8 849 4 10 2,581 14 6 1,993 12 4 794 5 2 5,507 2 9 2,894 6 8 400 8 9 19,250 0 7 2,506 7 6 160 10 4 685 17 7 1,923 5 6 1,389 7 8 619 14 10 4,492 17 3 2,211 13 4 3,136 30,126 8,582 393 1,535 4,505 3,383 1,414 10,000 5,106 0 5 0 0 2 0 0 0 0 0 0 0 0 0 5 0 0 0 0 0 484 0 7 0 112 0 0 0 0 916 0 0 164 0 64 13 514 0 134 2 0 6 0 0 229 0 0 0 13 6 2 2 0 Carried forward 68,511 0 0 34,540 4 1 68,511 0 0 4 2 11 33,640 3 4 68,180 7 5 1,479 15 6 1,245 0 0

B.—No. 2

44

FINANCIAL STATEMENT.

Table E I— continued. STATEMENT showing the Pro. 3ABLE EXPENDIT re, &c.- — contim ;ed. Vote. Amount op Vote oe Estimate. Ceedits to Tote. Actual expendituhe to 31st Maech. Estimated Expenditure to 30th June, including Liabilities to tiiat date. Total expendituee. Saving. Excess. 152 153 Brought forward £ 68,511 12,284 2,115 s. 0 0 0 a. o ! o £ s. d. 4 2 11 5 0 0 £ s. d. 34,540 4 1 6,419 2 4 1,059 1 9 £ s. 33,640 3 4,830 17 870 18 d. 4 8 3 £ 68,180 11,250 1,930 s. d. 7 5 0 0 0 0 £ s. 1,479 15 1,039 0 185 0 d. 6 0 0 £ s. d. 1,245 0 0 154 Otago Southland General Charges :— Telegraph Department Provincial Charges :— Telegraph Department General Charges: — Marine Department 19,985 0 0 32 0 0 10,652 11 10 9,487 8 2 20,140 0 0 123 0 0 155 24,554 0 0 60 18 1 19,917 0 4 6,682 19 8 26,600 0 0 1,985 1 11 156 13,815 0 0 11 19 1 7,191 4 0 5,508 16 0 12,700 0 0 1,126 19 1 Total Class IV. 141,264 0 0 114 0 1 79,779 4 4 61,021 3 1 140,800 7 5 3,830 14 7 3,253 1 11 ! Class V.- —Customs. General Charges :— ■ Customs Provincial Charges, Customs :— Auckland Tar an aid Hawke's Bay Wellington Nelson Marlborough Canterbury Westland Otago Southland New Ports and Stations, &c. General Charges :— Distilleries i i 1,655 0 0 157 930 11 7 549 8 5 | 1,480 0 0 175 0 0 158 159 160 J61 162 163 164 165 166 167 168 9,069 5 0 445 0 0 1,210 0 0 4,318 10 0 3,822 5 0 815 0 0 4,393 0 0 4,252 15 0 7,002 6 0 1,850 0 0 1,250 0 0 8 2 0 5,542 13 6 288 9 4 805 8 10 2,747 7 11 2,344 0 2 519 15 10 2,778 5 7 2,482 7 10 4,648 15 2 1,296 8 4 8 12 6 2,962 10 1 146 10 8 404 11 2 1,292 12 1 1,235 19 10 280 4 2 1,357 14 5 1,400 12 2 ! 2,356 10 10 I 503 11 8 11 7 6 8,505 435 1,210 4,040 3,580 800 4,136 3,883 7,005 1,800 20 3 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6 0 0 0 0 0 572 3 10 0 278 10 242 5 15 0 257 0 369 15 5 0 0 0 0 0 0 3 0 0 50 0 1,230 0 0 0 169 600 0 0 282 12 3 147 7 9 430 0 0 170 0 0 Carried forward 1 40,683 1 0 II 2 0 24,675 8 10 12,649 0 9 37,324 9 ty 3,369 13 5 • •

B.—No. 2,

45

FINANCIAL STATEMENT.

TablG B— continued. STATEMENT showing the Probable Expenditure, fee. — contim \ed. Vote. Amount of VOTE oe Estimate. Credits oe Vote. Actual ExPENDITUHE TO 31st Maech. Estimated Expenditure to 30th June, inCLUDIN& Liabilities TO THAT DATE. Total Expenditure. Saving-. Excess. Brought forward Provincial Charges :— Distilleries £ 40,683 s. 1 a. o £ 11 s. 2 d. 0 £ s. d. 24,675 8 10 £ 12,649 s. 0 d. 9 £ 57,324 s. 9 d. 7 £ s. 3,369 13 (1. 5 £ s. d. 170 900 0 0 308 19 0 291 1 0 600 0 0 300 0 0 Total Class V. 41,583 1 0 11 2 0 24,984 7 10 12,940 1 9 37,924 9 7 3,669 13 5 171 172 Class VI. —Native. General Charges :— ■ Native, General Contingencies Ditto, Salaries Provincial Charges :— Native Lands Courts Survey Department .. . . 5,000 12,407 0 2 0 6 11 4 0 2,804 6 5,981 4 2 0 2,206 17 10 6,018 16 0 5,011 12,000 4 0 0 0 407 2 6 173 4,000 0 0 33 2 3 926 10 7 1,533 2 3 1,573 9 5 2,500 0 0 Total Class VI. 21,407 2 6 44 6 3 9,712 0 9 9,799 3 3 19,511 4 0 1,940 4 9 174 175 176 Class VII. —Miscellaneous. General Charges :— Miscellaneous, &c. Bank Commission Provincial Charges :— Advances to Native Lands Courts .. General Charges :— Advance to Province of "Wellington.. Unapportioned — 37,019 12 10 3,500 0 0 1,844 3 5 29,528 10 2,384 2 6 7 ' 7,491 2 815 17 4 5 37,019 12 10 3,200 0 0 1,844 300 3 0 5 0 •• 6,700 0 0 i 4,006 15 5 1,400 0 0 5,406 15 5 1,293 4 7 177 177a 15,000 0 0 43,000 0 0 1 2 I 500 0 0 3,804 8 0 8 14,500 0 31,695 11 0 4 15,000 0 0 35,500 0 0 7,501 2 0 Total Class VII. —Miscellaneous I 105,219 12 10 1,845 5 5 ! 40,223 17 2 55,902 11 1 96,126 8 3 10,938 10 0 Class VIII. —Defence. General Charges :— Defence Office ; ; i 1,690 10 0 1,290 5 11 650 4 1 178 1,940 10 0 250 0 0 Carried forward 1,290 5 11 650 4 1 1,690 10 0 1,940 10 0 250 0 0

B.—No. 2.

46

EINANCIAL STATEMENT

Table I I— continued. STATEMENT showing the Pro: 3ABLE ExPENDIT re, &c. — contim ;ed. Vote. Amount op Yote oe Estimate. Ceedits to Yote. Actual ExPENDITUBE TO 31st Makch. Estimated Expenditure to 30th June, iniCLUDiNa Liabilities TO THAT DATE. TOTA1 ExPENDITUKE. Saving-. Excess. £ s. 1,690 10 3,180 0 7,100 0 3,000 0 d. 0 0 0 0 £ s. d. £ •_, d. 1,290 5 11 1,842 13 8 2,290 19 0 3,421 4 0 £ s. 650 4 1,337 6 5,088 0 1,578 16 d. 1 4 3 0 £ s. 1,940 10 3,180 0 7,378 19 5,000 0 d. 0 0 3 0 £ s. d. £ s. d. 250 0 0 179 180 181 Brought forward Store Department Miscellaneous Confiscated Lands 278 19 3 2,000 0 0 Militia, Volunteers, and Armed Constabulary: — 182 183 184 185 186 Provincial Charges :— Auckland Taranaki Hawkers Bay Wellington Nelson Marlborough Canterbury Westland Otago Southland General Charges :■— £ s. d. Armed Constabulary 118,000 0 0\ Contingent Defence" 82,000 0 0J 4,121 11 676 15 878 15 3,867 7 1,216 0 8 0 0 6 0 9 6 0 1,555 13 2 324 5 0 263 12 9 1,548 10 3 441 16 4 13 5 4 418 15 0 420 1 8 1,101 9 0 115 17 0 2,575 4 352 10 615 2 2,391 9 \ 760 18 1,171 5 609 18 928 11 254 3 6 0 3 9 4 0 4 0 0 4,130 17 676 15 878 15 3,940 0 1,216 0 8 0 0 0 0 72 12 6 187 188 189 190 1,683 5 951 0 2,075 5 359 5 0 0 0 0 1,590 0 1,030 0 2,030 0 370 0 0 0 0 0 93 5 0 79 0 0 j 45 5 0 10 15 0 191 192 200,000 0 0 "5,544 14 7 100,709 3 7 139,290 16 5 240,000 0 0 34,455 5 5 Total Class VIII. 230,799 14 2 5,832 19 10 115,757 11 8 157,604 5 3 273,361 16 11 138 10 0 36,867 12 11 Supplementary 1,618 13 0 8,950 1 6 10,903 17 11 19,853 19 5 18,235 6 5 Refunds of Revenue — General 284 4 11 168 16 10 453 1 9 453 1 9 Provincial 678 1 6 168 16 9 846 14 3 846 14 3 I

B.—No. 2.

47

FINANCIAL STATEMENT.

Table B— continued. STATEMENT showing the Probable Expenditure, &c. — continued. Recapitulation op Totals. Amount of Vote oe Estimate. Ckedits to Vote. Actual Expenditure to 31st Maech. Estimated Expenditure to 30th June, including- Liabilities to that date. Total ExPEKDITUEE. Saving-. Excess. LIABILITIES AND ENGAGEMENTS, 1868-69. £ s. d. Not estimated 12,316 0 0; 3,302 0 0 4,433 0 0 37,662 14 10 3,063 14 1 2,312 0 0 9,269 16 4 69,000 0 0 31,375 0 0 £ s. d. 3,882 19 0 £ s. d. 11,303 13 1 4,811 0 11 3,808 10 1 5,069 5 5 25,448 18 1 2,966 5 7 1,467 11 3 4,398 17 8 60,360 9 10 18,458 12 11 £ s. d. 884 1 3 7,656 3 0 7 7 10 £ s. d. 12,187 14 4 12,467 3 11 3,815 17 11 5,069 5 5 30,295 3 5 2,966 5 7 2,312 0 0 6,734 18 10 76,826 9 1 30,550 0 0 £ s. 1,468 2 49 18 243 13 664 15 10,193 12 444 0 10 2 6,000 0 14,826 0 4,825 0 d. 2 2 4 0 2 0 0 0 0 £ s. d. 9,772 17 6 201 2 1 755 19 1 1,301 10 9 2,562 0 10 346 11 8 Permanent Charges. Class I. Domains and Buildings „ II. Public Departments .. „ III. Law and Justice IV. Postal „ V. Customs „ VI. Native „ VII. Miscellaneous „ VIII. Defence „ IX. 1 12 0 263 19 9 4,846 5 4 10 2 0 27 18 7 4,281 11 11 844 8 9 2,336 1 2 16,465 19 3 12,091 7 1 3,437 3 11 18,370 17 2 4,000 0 0 Total Liabilities and Engagements . . i ■ 172,734 5 3 8,468 3 3 138,093 4 10 45,131 13 8 183,224 18 6 38,725 3 0 40,748 3 0 FINANCIAL YEAR 1869-70. Civil List Permanent Charges — Interest and Sinking Fund Ditto Under Acts of the General Assembly Ditto 27,500 0 0 417,975 2 7 Not estimated 23,824 0 10 Not estimated 2,480 0 0! 41,665 18 8 55,627 4 0 141,264 0 0 41,583 1 0 21,407 2 6 105,219 12 10 230,799 14 2 } 17,105 13 11 94,406 9 4 10,394 6 334,005 1 1 6 27,500 0 0 j ("422,941 10 10 [_ 5,470 0 0 ' 25,032 4 9 12,798 19 3 3,080 0 0 43,374 0 1 54,916 3 5 140,800 7 o< 37,924 9 7 19,511 4 0! 96,126 8 3! 273,361 16 11] i 4,966 8 3 5,470 0 0 1,199 11 5 12,798 19 3 600 0 0 2,418 15 0 692 8 11 3,253 1 11 i Class I. Domains and Buildings „ II. Public Departments .. „ III. Law and Justice IV. Postal „ V. Customs „ VI. Native „ VII. Miscellaneous •„ VIII. Defence 8 12 6 96 11 6 10 0 0 114- 0 1 11 2 0 44 6 3 1,845 5 5 5,832 19 10 15,281 17 7 2,675 2 11 2,100 14 8 32,648 7 1 37,054 7 11 79,779 4 4 24,984 7 10 9,712 0 9 40,223 17 2 115,757 11 8 9,750 7 10,123 16 979 5 10,725 13 17,861 15 61,021 3 12,940 1 9,799 3 55,902 11 157,604 5 2 4 4 0 6 1 9 1 3 I i 1 807 5 1,413 9 3,830 14 3,669 13 1,940 4 10,938 10 138 10 1 6 7 5 9 0 0 36,867 12 11 Carried forward 1,109,345 16 7 7,962 17 7 471,729 15 2 691,107 9 4 1,162,837 4 61 22,738 i 7 4 68,266 17 8

B.—No. 2.

48

FINANCIAL STATEMENT.

Table I i— continued. STATEMENT showing the Pro: '.ABLE ExPEXDITU re, &c. — continued, ued. Recapitulation" i ip Totals— contin, Amount of Vote ok Estimate. Cbedits to TOTE. Actual Expenditure to 31st Makch. Estimated Expenditure to 30th June, including Liabilities! to that date. ! Total Expenditure. i Saving. Excess. Brought forward £ s. 1,109,345 16 d.j 7 £ s. 7,962 17 1,618 13 d. 7 0 £ s. d. 471,729 15 2 8,950 1 6 £ s. d. 691,107 9 4 10,903 17 11 £ s. d. 1,162,837 4 6 19,853 19 5 £ 22,738 s. 7 d. 4 £ s. 68,266 17 18,235 6 d. 8 5 Supplementary Refunds of RevenuesGeneral Provincial 284 4 11 678 1 6 168 16 10 168 16 9 453 1 9 846 18 3j 453 1 846 18 9 3 Total, Financial Year 1869-70 1,109,345 16 7\ 9,581 10 7 481,642 3 1 702,349 0 10 1,183,991 3 11 22,738 7 4 87,802 4 1 SUMMARY. Liabilities and Engagements, 1868-9 Financial Year 1869-70 £ s. 172,734 5 1,109,345 16 d.j 3 7 £ s. 8,468 3 9,581 10 d. 3 7 £ 138,093 481,642 s. d. 4 10 3 1 £ s. d. 45,131 13 8 702,349 0 10 £ s. d. 183,224 18 6 1,183,991 3 11 £ 38,725 22,738 s. 3 i d. £ " s. 0 40,747 13 4 87,802 4 dT 0 1 Total Payments to Provincial Accounts for period from 1st June, 1869, to 30th June, 1870. . 1,282,080 1 10 18,049 13 10 619,735 7 11 747,480 14 6 1,367,216 2 g 61,463 10 4 1128,549 17 1 139,856 5 0 49,103 3 3 188,959 8 6 \ Total, —Charged as under :— 759,591 12 11 796,583 17 9 1,556,175 10 8 Deduct Savings 61,463 10 4 Liabilities, 1868-9. Ultimate Excess 67,086 6 9 General Charges . . . . Total 151,784 12 10. 8,468 3 3 117,823 18 2 44,853 7 10 162,677 6 01 33,472 0 6 36,036 4 5 Provincial Charges Payments to Provincial Accounts 20,949 12 r 5 20,269 6 12,496 10 8 4 278 5 10 20,547 12 12,496 10 41 5,253 2 6 4,711 8 7 Total 32,765 17 0 278 5 10 33,044 2 10; 38,725 3 0 40,747 13 0 Financial Year, 1869-70. General Charges . . . . Total 737,128 10 9 9,357 10 4 372,217 5 10 224 0 3 356,465 15 i 1 466,770 16 0 823,236 11 1 12,761 11 6 74,512 1 6 . ! 1 Provincial Charges Payments to Provincial Accounts 125,176 8 127,359 14 0 8 235,578 49,103 4 10 3 3 360,754 12 10! 176,462 17 ll! 9,976 15 10 13,290 2 7 .. Total 252,536 2 8 284,681 8 1 537,217 10 9| 22,738 7 4 87,802 4 1 Total Expenditure, Liabilities 1868-69 £195,721 8s. lOd. Financial year, 1869-70 £1,360,454 Is. lOd. * The sum of £67,086 6s. 9d., stated as the estimated expenditure in excess of appropriations, should be reduced by a sum of £30,444 2s. 3d. expended under the authority of Permanent Acts, but for ■which no provision was contained in the Annual Estimates. This reduction will diminish the actual excessive expenditure to a total of £36,642 4s. 6d., but not the apparent excess as compared with the anticipations of what the expenditure would be and the wavs and means provided,.

B.—No. 2.

Table B (1). STATEMENT of Eeceipts and Expenditure of the Special Fund from the Ist July, 1869, to 31st March, 1870.

Table B (2). STATEMENT of the Eeceipts and Expendituhe of the Land Fund from the Ist July, 1869, to 31st March, 1870.

Table B (3). STATEMENT showing the Receipts and EXPENDITUREe of the Tbttst Eund from the Ist July, 1869, to the 31st March, 1870.

49

FINANCIAL STATEMENT.

Balances, Or., on 30th June, 1869. Receipts from the 1st July, 1869, to the 31st March, 1870. Expenditure from the 1st July, 1869, to the 31st March, 1870. Balances on 31st March, 1870. Loan of 1856 ... Loan of 1860 Loan of 1863 Gold Duty Act, 1858... Gold Fields Act NewZealand Settlements Act Consolidated Loan Act, 1867 0) Public Debts Act Debentures Act, 1864... £ s7 d. 32,293 15 4 1,575 3 11 11,689 11 4 ~£ s. d. ~ £ ks. d. £ s. d. 32,293 15 4 •1,575 3 11 *2,597 14 5 *8 4 10 15,684 3 9 15,425 2 10 13,552 14 4 24,776 0 8 15,416 18 0 13,552 14 4 44,644 17 4 9,765 8 5 51,765 9 4 2,644 16 5 19,379 14 4 60,734 14 3 325 0 0 110,252 18 9 149,594 15 7 58,739 3 1 175 0 0 i>.19,962 2 6 •1,995 11 2 150 0 0 Totals 41,265 .Dr. 19,962 6 2 1 6 170,642 16 6 164,680 8 1 314,020 1 0 21,303 3 I (a) A Statement of the Ci * These Balances have sini msolidated Loan Act A :e been expended and t' ccount is given in Table he Accounts closed.

Balances on 1st July, 1869. Receipts from the 1st July, 1869, to the 31st March, 1870. Expenditure from the 1st July, 1869, to the 31st March, 1870. Balances on 31st March, 1870. Auckland Wellington ... Hawke's Bay Nelson Marlborough Canterbury ... Westland Otago Southland £ s. d. Dr. 389 8 10 14 8 11 Dr. 0 0 6 250 1 8 Dr. 23 6 8 Dr. 25 0 0 Dr. 269 12 8 463 0 11 £ s. d. 26,239 16 7 6,188 6 7 2,279 7 1 25,210 11 9 4,778 18 11 31,930 10 9 2,685 2 6 119,247 7 9 7,103 16 9 £ s. d. 25,763 3 7 6,144 7 10 2,153 2 1 25,210 11 3 1,482 0 0 30,246 15 8 2,660 2 6 118,951 8 6 7,588 9 2 £ s. 87 4 58 7 126 5 3,547 0 1,660 8 d. 2 8 0 7 5 26 6 Dr. 21 11 7 6 Totals 727 Jl Dr. 707 8 6 8 5,505 12 Dr. 21 11 5 6 20 2 10 225,663 18 8 220,200 0 7 5,484 0 11

Balances on July 1, 1869. Receipts from July 1, 1809, to March 31, 1870. Expenditure from ,, , July 1, 1869, to M BaJ a°? eS 1 SL March 31, 1870. Mareh 31 > 1870' Intestate Estate Fund Account „ Expenses Account ... Estates of Deeciised Soldiers ... Eeal Estates Administration Account Supreme Court Account Trustees Belief Act Account ... Unclaimed Dividend Account „ Property Account „ Balances closed Account... Post Office Money Order Account ,, Savings Banks Account ... Military Savings Banks Account Patriotic Fund Account Native 10 per cent. Refunds, Auckland Account Natives Reserves Account Native 5 per cent. Refunds, Wairarapa Account Native at Wellington Deposits Acct. Land Assurance Fund A.ccount Trust Fund Investment Account Land Clauses Consolidation Act, 1863 Lunatics Act, 1868 £ s. d. 25,798 15 6 223 8 11 966 17 7 969 3 3 110 10 8 973 9 9 272 19 9 266 2 3 106 1 4 7,086 3 11 191,532 7 11 207 15 8 1,059 9 2 4,660 18 8 £ s. d. 0,771 5 10 497 5 7 571 14 8 525 6 6 £ a. d. 9,121 7 11 542 18 6 128 11 0 491 4 11 I £ a. A. 26,448 13 5 177 16 0 1,410 1 3 1,003 4 10 110 10 8 748 2 0 272 19 9 456 4 3 ] 06 1 4 6,877 4 2 226,860 11 9 207 15 8 1,059 9 2 4,660 18 8 225 7 9 277 1 6 86 19 6 40,945 1 0 35,328 3 10 . 41,154 0 9 5,033 12 1 2,393 1 4 3,549 18 11 52 17 4 2,649 17 3 5,933 13 9 2,445 18 8 370 0 0 59 12 2 Dr. 196,035 10 0 10 15 5 15,000 0 0 1,020 0 0 191 5 5 370 0 0 70 7 7 Dr. 211,035 10 0 1,020 0 0 Dr. 191 5 5 Totals 242,090 9 11 Dr. 196,035 10 0 279,219 12 11 Dr. 211,226 15 5 £46,054 19 11 02,549 10 7 70,611 13 0 67,992 17 6 u

B.—No. 2. 50

FINANCIAL STATEMENT.

Table B (4). CONDENSED STATEMENT of the Consolidated Loan Act Account, showing the Balance at debit on the 31st Mabch, 1870.

De. Amount applied to Conversion of Debentures and Consolidation of New Zealand Loans £2,735,550 0 0 ! Discount... ... ... ... 251,450 0 0 £ s. d. £ s. d. 2.987.000 0 0 £ s. d. £ s. d. , Ce. Amount raised for Conversion of Debentures and Consolidation of New Zealand Loans £2,735,550 0 0 Discount... ... ... ... 251,450 0 0 £ s. d. £ s. d. 2,987,000 0 0 Amount raised for purposes specified in the Public Debts Act. Schedule B. ... £1,080,580 0 0 Discount ,.. ... ... ... 33,420 0 0 2,987,000 0 0 Amount transferred to credit of Public Debts Act Account ... ... ...£1,080,580 0 0 Discount ... ... ... ... 33,420 0 0 2,b5/,UUU U U 1,114,000 0 0 1,114,000 0 0 1,114,000 0 0 4,101,000 0 0 4,101,000 0 0 | Amount raised by sale of £90,000 Debentures Discount as per contra 4,101,000 O 0 ====== I ' ' . Discount on sale of £90, 000 Debentures ... Redemption of Nelson Debentures Payments of Interest accrued and expenses attending conversion, &c, &c, charged to New Zealand G-overnment ... Less recoveries... 19,309 14 9 31 15 2 6,650 0 0 13,980 0 0 83,350 0 0 6,650 0 0 Charged to Provinces ... ... ... ... Less recoveries ... ... ... ... ... I 19,309 14 9 31 15 2 ! 21,013 17 6 8,276 2 4 19,341 9 11 Amount raised to redeem £3,150 Taranaki Debentures Amount raised for Province of Taranaki 90,000 0 0 3,150 0 0 2,000 0 0 Amount paid to Province of Taranaki, in terms of section 19, ; " Appropriation Act, 1869 " ... ... ... ... ■ TJndee Consolidated Loan Application Act. Redemption of Wellington Debentures ... ... Payment of Mortgage Debt, Wellington ... ... Expenses of raising Loan -of £79,000 ... ... ... j ... 12,737 15 2 2,000 0 0 | 34,500 0 0 25,000 0 0 902 17 5 I 115,112 2 6 Under Consolidated Loan Application Act. Amount raised by sale of £79,000 Debentures —in suspense, pending receipt of Accounts, £78,950. Balance, Dr. 95,150 0 0 19,962 2 6 115,112 2 6

B.—No. ».

Table C STATEMENT of Unauthorized Expenditure, from the Ist July, 1869, to tlie 30th June, 1870.

51

EINANCIAL STATEMENT.

Actual Expenditure to 31st March. Estimated Expenditure from 1st April, to 30th June, 1870. Total. FOR SERVICES NOT PROVIDED FOR. Colonial Conference, Travelling Expenses of Commissioners to Melbourne and Sydney ... Expenses, &c, of Commissioners to England California Mail Service Expenses connected with Detention of Troops ... Conveying Troops from "Wanganui On account of purchase of p.s. " Luna " Trust Estates Commission Expenses of Wangapeka InquiryExpenditure on Thames Gold Fields Bank of New Zealand —Interest on Overdraft allowed by Sub-Treasurer, Dunedin Advances to Provincial Government of Southland Province of Wellington—Amount paid under Award of Referee to adjust the sum payable to Province of Wellington under Surplus Revenue Adjustment Act Defalcations of A. Sharp, Customs Officer, Hokianga Salary of Deputy Auditor Salary of Drill Instructor, Native Militia Rent of Militia Offices New Post Office, Timaru Water Supply, Government House, Auckland Miscellaneous £ s. d. £ e. d. £ s. d. 323 7 5 323 7 5 347 16 11 585 16 8 2,086 13 4 2,000 0 0 2,434 10 3 2,585 16 8 581 9 11 20 6 8 3,000 0 0 212 15 6 396 10 4 689 5 0 25 7 0 32 10 0 581 9 11 20 6 8 3,000 0 0 238 2 6 429 0 4 689 5 0 12 2 10 12 2 10 1,548 1 11 6,582 4 6 8,130 6 5 379 7 6 379 7 6 291 4 6 54 3 4 6 2 0 13 18 0 342 13 0 291 4 6 54 3 4 6 2 0 13 18 0 342 13 0 145 0 0 177 3 1 145 0 0 177 3 1 8,950 1 6 10,903 17 11 19,853 19 5 ote. Authorized Expenditure. Estimated Expenditure. Excess. FOR SERVICES IN" EXCESS OF TOTES. Liabilities, 1868-69. Public Domains and Buildings —Contingencies Governor's Establishment —Salaries Legislative Departments ,, Executive „ ,, Printing Office —Extra Assistance, Overtime, &c. Paymasters' Departments —Salaries Stamp „ „ Electoral „ „ Ditto—Printing Electoral Rolls, &c. Registrars of Land, &c.—Salaries Criminal Prosecutions Coroners ... Contingencies—Provincial Law Courts... Hawke's Bay —Postal Salaries and Mail Contracts £ s. d. £ s. d. £ s. d. 2 5 6 7 11 10 0 0 134 0 0 196 12 0 630 0 0 211 2 1 242 18 11 359 6 0 644 11 5 201 2 1 108 18 11 162 14 0 14 11 5 14 16 18 19 22 2.", 26 27 31 479 0 0 110 0 0 111 0 0 141 0 0 500 0 0 515 3 2 110 8 4 166 6 8 408 6 8 610 9 11 745 2 11 254 0 2 415 18 0 385 19 8 36 3 2 0 8 4 55 6 8 267 6 8 110 9 11 745 2 11 54 0 2 315 18 0 185 19 8 200 0 0 100 0 0 200 0 0 259 0 0 274 18 7 15 18 7 Carried forward ... 3,070 12 0 5,344 12 6 2,274 0 6

B.—No. 2.

52

EINANCIAL STATEMENT.

Table ( ) continued. STATEMENT of Unaut: SEIZED ExPENDITT BE — continued. Vote. Authorized Expenditure. Estimated Expenditure. Excess. 39 42 43 47 49 50 51 54 60 61 64 06 69 72 Brought forward ... Westland Contingencies Telegraph Department, General, Salaries Ditto, Maintenance of Lines, &c. Marine Department, Contingencies Nugget Point Lighthouse Cape Campbell Lighthouse Flat Bock Beacon ... Customs Department, Nelson, Salaries, &c. Ditto, Marlborough ,, Ditto, Otago ,, Ditto, Contingencies Miscellaneous, General Charges Judge Johnston's " New Zealand Justice of the Peace" Native Lands Court Militia and Volunteers, Salaries Armed Constabulary, Ammunition Ditto—" Sturt" and " St. Kilda " Ditto —Transport, Rations, &c. Ditto —Arrears of Pay, &c. Militia and Volunteers —Salaries Ditto —Capitation Grant Southland Debts—Amount yet to be paid £ s. 3,070 12 609 0 500 0 167 0 400 0 200 0 3,080 0 3,210 0 480 0 250 0 65 0 450 0 161 12 1,027 18 d. 0 0 0 0 0 0 0 0 0 0 0 0 5 7 £ s. d. 5,344 12 6 701 10 10 G39 14 0 201 18 6 915 14 2 361 1 5 3,240 0 0 4,602 3 4 530 0 0 305 12 4 77 1 8 510 8 4 380 1 9 4,000 0 0 £ s. d. 2,274 0 6 92 10 10 139 14 0 34 18 6 515 14 2 161 1 5 160 0 0 1,392 3 4 50 0 0 55 12 4 12 1 8 60 8 4 218 9 4 2,972 1 5 73 74 76 77 78 79 80 81 86 450 0 450 0 224 0 7,432 14 500 0 16,422 11 18,598 6 578 0 500 0 6,000 0 0 0 0 8 0 0 3 0 0 0 073 0 0 692 2 6 1,046 11 8 8,000 0 O 2,100 0 0 223 0 0 242 2 6 822 11 8 567 5 4 1,600 0 0 | 49,000 0 0 950 0 0 1,529 17 5 10,000 0 0 13,979 2 9 372 0 0 1,029 17 5 4,000 0 0 Total 64,826 14 11 95,801 10 5 30,974 15 6 87 89 91 95 97 99 103 113 114 115 118 120 138 144 147 154 155 178 181 185 188 190 191 192 Financial Yeah, 1869-70. Public Domains and Buildings Legislative Departments Stamp Office —General Registrars —Provincial Stamp Department—Provincial Law and Justice —General Charges Supreme Court—Wellington ... District „ Westland Ditto „ Otago Gold Fields ... Ditto „ Contingencies Resident Magistrate's Court —Taranaki Ditto „ „ Wellington Land and Deeds Registry—Westland ... Postal —Auckland Ditto Wellington... Telegraph —General Charges ... Ditto Provincial Defence—General Charges Ditto Confiscated Lands ... Militia and Volunteers —Wellington ... Ditto „ Westland Ditto „ Southland Armed Constabulary £118,000 0 0") Contingent Defence 82,000 0 0 j 2,480 0 12,310 0 876 5 2,750 0 1,845 0 6,335 10 688 0 940 0 1,100 0 60 0 223 10 2,707 12 375 0 7,666 0 4,276 0 20,017 0 24,614 18 1,690 10 3,000 0 3,867 7 951 0 359 5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 6 0 0 3,080 0 13,950 0 1,020 0 3,300 0 1,930 0 6,835 10 722 10 985 0 1,120 0 100 0 224 2 2,753 13 381 5 8,582 0 4,505 0 20,140 0 26,600 0 1,940 10 5,000 0 3,940 0 1,030 0 370 0 0 0 0 0 0 0 3 0 0 0 4 4 0 0 0 0 0 0 0 0 0 0 600 0 0 1,640 0 0 143 15 0 550 0 0 85 0 0 500 0 0 34 10 3 45 0 0 20 0 0 40 0 0 0 12 4 46 1 4 6 5 0 916 0 0 229 0 0 123 0 0 1,985 1 11 250 0 0 2,000 0 0 72 12 6 79 0 0 10 15 0 205,544 14 7 240,000 0 0 34,455 5 5 Total 304,677 12 2 348,509 10 11 43,831 18 9 SUMMARY. For Services not provided for ... For Services in excess of Votes — Liabilities, 1868-69 Financial Tear, 1869-70 ... 64, 826 14 11 304,677 12 2 19,853 19 5 19,853 19 5 95,801 10 5 348, 509 10 11 30,974 15 43,831 18 6 9 Total 369, 504 7 1 464,165 0 9 94,660 13 8

B.—No. 2.

Table D. STATEMENT showing the Actual EXPENDITURE for DEFENCE PURPOSES, brought to account from the Ist July, 1869, to the 31st March, 1870, and the Estimated Expenditure, including Liabilities, to the 30th June, 1870.

53

FINANCIAL STATEMENT. .

APPROPRIATIONS. expenditube Accounted foe to 31st Mabch, 1870. Estimated Expenditure mom 31st Maech, I to 30th June, 1870. Total Expenditube from 1st jult, 1869, to 30th June, 1870. YOTE. Ceedit of Vote. Total. Liabilities asd Engagements, 186S-9. Vote 74. —Militia and Volunteers —Salaries, &e. ... „ 75. —Armed Constabulary —Pay „ 76. — Do. do. ■—Ammunition „ 77.— Do. do. —" Sturt" and " St. Kilda" „ 78.— Do. do. —Transport, Rations, &c. „ 79. — Do. do. —Arrears of Pay, Rations, &c. ... „ 80. —Militia and Volunteers —Salaries, &c. ,, 81. — ■ Do. do. —Capitation Grant £ 224 29,026 7,331 s. d. 0 0 0 0 0 0 £ 8. d. £ 224 29,026 s. d. 0 0 0 0 £ s. d. 1,046 11 8 5,918 10 3 7,892 18 1 £ s. d. £ s. d. 1,046 11 8 14,200 0 0 8,000 0 0 101 14 8 8,281 9 9 107 1 11 500 0 0 500 0 0 1,801 6 11 298 13 1 2.100 0 0 16,400 0 0 22 11 0 8,408 15 9 I 7,500 8 8 9,000 0 0 14,441 578 500 0 0 0 0 0 0 4,157 6 3 578 500 0 0 0 0 33,090 15 7 871 14 2 1,329 17 5 78 5 10 200 0 0 950 0 0 1,529 17 5 Financial Teak, 1869-70. Vote 178.—Defence Office „ 179. —Store Department ... ,, 180. —Miscellaneous „ 181. —Confiscated Lands ... „ 182. —Militia and Volunteers —Auckland „ 183.— Do. do. — Taranaki „ 184.— Do. do. — Hawke's Bay ,, 185. — Do. do. —Wellington ... ,, 186. — Do. do. —Nelson „ — Do. do. ■—Marlborough „ 187. — Do. do. — Canterbury ... „ 188.— Do. do. —Westland ... „ 189.— Do. do. —Otago „ 190.— Do. do. —Southland ... „ 191, 192. —Armed Constabulary and Contingent Defence 69,000 0 0 4,281 11 11 73,281 11 11 60,360 9 10 16,465 19 3 76,826 9 1 1,690 10 3,180 0 7,100 0 3,000 0 4,121 11 676 15 878 15 3,867 7 1,216 0 0 0 0 0 8 0 0 6 0 278 19 9 6 3 0 1,690 10 3.180 0 7,378 19 3,000 0 4,130 17 C76 15 878 15 3,807 7 1,216 0 0 0 3 0 8 0 0 6 0 1,290 5 11 650 4 1,842 13 8! 1,337 6 2,290 19 0; 5.088 0 3,421 4 Oi 1,578 16 1,555 13 2 1 2,575 4 324 5 0 1 352 10 263 12 9 615 2 1,548 10 3 I 2,391 9 441 16 4] 7 13 5 4j /bU i8 418 15 0 1,171 5 420 1 8 609 18 1.101 9 0: 928 11 115 17 0: 254 3 1 4 3 0 6 0 3 9 4 0 4 0 0 1,940 10 3,180 0 7.378J19 5,000 0 4,130 17 676 15 878 15 3,940 0 0 0 3 0 8 0 0 0 1,216 0 0 1,683 5 951 0 2,075 5 359 5 0 0 0 0 5,544 14 7 1,683 5 951 0 2,075 5 359 5 1 0 0 0 0 1 1,590 0 1,030 0 2,030 0 370 0 0 0 0 0 200,000 0 0 100,709 3 7, 139,290 16 5 240,000 0 0 Summary. Liabilities and Engagements, 1868-9 Financial Tear, 1869-70, including Liabilities 230,799 14 2 5,832 19 10! 236,632 14 0 115,757 11 8 157,604 5 3 273,361 16 11 69,000 0 230,799 14 0 2 4,281 11 11 73,281 11 11 5,832 19 10 236,623 8 0 00,360 9 10 115,757 11 8 16,465 19 157,604 5 3 3 76,826 9 1 273,301 10 11 299,799 14 2 10,114 11 9 | 309,914 5 11 176,118 1 6 174,070 4 6 350,188 6 0

EINANCIAL STATEMENT.

B.—No. 2. 22

Table E STATEMENT of Expenditure -of the "Consolidated Furo from-the Ist July, 1869, to the 81st Makcit, 1370.

PROVINCIAL. GENERAL. Nelson. Maelboko'. TOTALS. Auckland. Taeanaki. Wellington. Hawke's Bay Canteeisitry. Westland. Otago. Southland. Liabilities and Engagements, 1868-69. Permanent Charges— Interest and Sinking Fund ... Under Acts of General Assembly— „ " Provincial Audit Act, 1866 "... „ " .Tusticesof thePeaoe Act, 1866" „ " Debtors and Creditors Acts " Civil List Fund Account Appropriations — Public Domains and Buildings Public Departments: — Governor's Establishment... Legislative Executive Provincial— Treasury £ s. d 2,100 17 10 4,123 2 4 4,717 11 10 £ s. d. 87 10 0 £ s. d. 10*8 4 £ s. d. 37 10 0 £ s. d. 15 15 9 £ s. d. 20 16 8 £ s. d. 4 "3 4 £ s. d. 41 13 4 £ s. d. £ s. d. 61 18 8 51 2 0 12 13 0 £ s. d. 18" 15 0 £ s. d. 2,100 17 10 4,123 2 4 298 6 1 51 2 0 12 13 0 4,717 11 10 Liabilities and Engagements, 1868-69. Permanent Charges— Interest and Sinking Fund. Under Acts of General Assembly — „ "Provincial Audit Act, 1866." „ " Justices of the Peace Act, 1866." ,, " Debtors and Creditors Act." Civil List Fund Account. Appropriations — Public Domains and Buildings. Public Departments — Governor's Establishment. Legislative. Executive. Provincial — Treasury. 4,811 0 11 4,811 0 11 242 18 11 359 6 0 686 7 1 242 18 11 359 6 0 686 7 1 42 12 2 870 6 6 168 16 2 38 13 0 32 3 4 2 18 2 18 18 15 0 21 12 8 10 0 0 13 6 10 8 G 8 12 10 0 2 18 6 5 0 44 15 10 58 10 11 22 18 4 33 7 4 33 G 8 44 12 0 4 3 4 9 14 9 ■ 185 2 2 276 16 8 870 6 6 168 16 2 1,018 16 7 Stamp ... Printing Office Geological Survey ... Electoral Law and Justice : — General Charges ... Provincial Charges— Supreme Court and Sheriffs' Offices District and Eesident Magistrates' Court s Criminal Prosecutions, Coroners, &c. Registry of Land and Deeds Postal Telegraph Marine Customs ... Native Militia, Volunteers, and Armed Constabulary Miscellaneous Confiscated Lands, —Surveys, &c. Wellington Debentures Nelson Debentures ... Southland Certificates 152 3 2 32 10 0 1,815 16 2 4,842 0 2 10,977 0 10 89 10 6 1,467 11 3 100 11 0 149 19 2 489 16 7 62 5 0 142 15 8 109 12 2 251 14 6 21 19 8 30 2 2 26 4 8 37 19 10 67 16 6 138 16 0 65 7 8 274 11 0 137 1 2 92 8 1 682 5 8 222 4 10 21 7 1 16 17 4 71 5 0 32 17 6 29 3 4 297 14 1 114 14 9 98 15 10 ■40 8 0 277 15 2 48 16 0 52 10 0 383 0 10 299 13 5 3S'"6 6 117 5 10 65 1 G 32 15 4 248 14 9 166 17 7 172 9 6 132 1 0 389 12 10 91 10 6 127 8 4 1,050 13 1 517 13 2 43 14 8 36 1 8 306 2 6 51 17 6 33 6 8 743 18 5 100 13 0 301 15 2 50 11 9 822 5 0 183 13 4 146 8 2 1,871 10 3 212 3 5 81 0 8 27 2 2 74 19 8 61 16 8 50 7 6 377 17 2 59 3 4 152 3 2 671 16 9 2,797 14 5 669 18 2 777 12 11 7,648 19 1 6,822 18 2 10,977 0 10 2,966 5 7 1,693 14 1 Stamp. Printing Office. Geological Survey. Electoral. Law and Justice — General Charges. Provincial Charges— Supreme Court and Sheriffs' Offices. District and Resident Magistrates' : Courts. Criminal Prosecutions, Coroners, &c. ! Registry of Land and Deeds. Postal. Telegraph. Marine. Customs. Native. Militia, Volunteers, and Armed Constabulary. Miscellaneous. Confiscated Lands, Surveys, &c. Wellington Debentures. Nelson Debentures. Southland Certificates. 757 8 2 226 2 10 35 0 0 38117 8 102 "l9 9 315" 4 2 140 2 7 350 3 4 112 8 0 515 13 11 165 17 6 58,158 18 3 3,706 15 2 1,447 4 7 7,900 0 0 1,000 0 0 8,111 8 4 172 7 5 371 2 8 36 5 0 738 6 10 72 3 0 109 17 6 22 14 0 265 5 8 387 14 7 321. 11 7 112 10 0 24 13 0 60,360 9 10 4,172 14 10 1,447 4 7 7,900 0 0 1,000 0 0 8,111 8 4 Financial Yeae 1869-70. Civil List ... Permanent Charges : — Interest and Sinking Fund ... Under Acts of General Assembly ,, " Provincial Audit Act, 1866 "... ,, " Customs Regulation Act, 1858" „ " Justices of the Peace Act, 1868" ,, " Armed Constabulary Act, 1868" „ "Debtors and Creditors Act, 1858" „ "Distillation Prohibition Ordinance Amendment Act, 1866 " ,, " WeiglitsandMeasuresAct,1858." Appropriations: — Public Domains and Buildings Public Departments:— Governor's Establishment... Legislative Executive Provincial: — Receiver of Revenue Treasury District Registrars of Births, &c.... Registrars of Joint Stock Companies Stamp Printing Office . ... Geological Electoral Law and Justice : — General Charges ... Provincial Charges : — Supreme Court and Sheriffs' Offices District, Resident Magistrates', and Petty Sessions Courts Criminal Prosecutions, Coroners, &c. Registry of Land and Deeds Postal Telegraph Marine ... ... ... Customs ... Native Miscellaneous Bank Commission ... Advance to Province of Wellington Unapportioned Militia, Volunteers, and Armed Constabulary Supplementary Refunds of Revenue 1,823 2 11 821 14 1 Financial Yeae 1869-70. Civil List. Permanent Charges : — Interest and Sinking Fund. Under Acts of General Assembly. „ " Provincial Audit Act, 1866." „ " Customs Regulation Act, 1858." „ " Justices of the Peace Act, 1868." „ " Armed Constabulary Act, 1868." ,, " DebtorsandCreditorsAct, 1858." „ " Distillation Prohibition Ordinance Amendment Act, 1866." ,, " WeightsandMeasuresAct,1858." Appropriations : — Public Domains and Buildings. Public Departments: — Governor's Establishment. Legislative. Executive. Provincial: — Receiver of Revenue. Treasury. District Registrars of Births, &c. Registrars of Joint Stock Companies. 117,823 18 2 2,992 2 0 269 14 6 2,882 19 7 858 12 11 3,364 0 5 1,814 19 8 4,486 3 10 955 10 9 138,093 4 10 17,105 13 11 17,105 13 11 93,310 8 9 16,144 10 9 175 0 0 70 0 0 39 6 8 108 6 8 3 10 0 100 0 0 166 13 4 7 14 0 33 6 8 333 0 S (i6 13 4 5 0 0 3G0" 0 0 146 19 7 150 0 0 93,310 8 9 16,144 10 9 1,532 13 4 78 10 0 154 13 7 3 19 5 8 6 0 3 19 5 8 6 0 12 0 0 10 3 32 15 2 33 17 2 0 10 3 2,100 14 8 2,100 14 8 1,033 11 8 12,311 6 6 5,562 18 4 I I 1,033 11 8 12,311 6 6 5,562 18 4 t 714 12 2 3,667 13 4 1,078 16 1 425 7 11 512 0 1 503 4 2 16 13 4 28 7 0 30 1 0 20 11 4 150 0 0 159 18 6 30 15 0 116 0 8 53 15 0 61 17 2 100 1.1 10 66 13 4 115 1 0 12 10 0 16 13 4 75 10 8 21 15 0 I I 369 19 2 295 19 4 19 0 0 155 11 6 229 6 1 183 6 8 184 14 4 0 10 0 99 5 6 266 13 4 550 11 6 25 1 6 101 10 3 33" 6 8 70 19 6 50" 5 0 229 6 1 1,582 8 9 2,054 19 1 105 7 6 1,955 17 5 3,667 13 4 1,078 16 1 3,066 2 4 Stamp. Printing Office. Geological. Electoral. Law and Justice : — General Charges. lVovincial Charges : — Supreme Court and Sheriffs' Offices. District, Resident Magistrates', and Petty Sessions Courts. Criminal Prosecutions, Coroners, &c Registry of Land and Deeds. Postal. Telegraph. Marine. Customs. Native. Miscellaneous. Bunk Commission. Advance to Province of Wellington. Unapportioned. Militia, Volunteers, and Armed Constabulary. Supplementary. Refunds of Revenue. ... 1,542" 4 11 69 17 4 87 1 4 74 14 2 187 5 11 32 3 0 I 276 4 0 163 9 10 487 12 3 145" 9 7 5,619 8 6 I I 5,619 8 6 954 12 5 110 12 0 503 17 3 90 12 11 200 9 0 33 11 8 957 2 0 299 4 4 850 6 5 91 10 10 4,091 19 4 260 0 0 13,611 15 8 10,652 11 10 7,191 4 0 1,213 3 10 8,785 10 2 29,528 10 6 2,384 2 7 500 0 0 3,804 8 8 2,972 13 5 934 1 2 1,645 16 3 6,075 12 »6 2,152 11 11 5,550 5 0 880 17 1 3,239 15 1 172 1 8 38 15 10 187 12 8 232 9 8 288" 9 4 1,613 2 4 363 10 8 640 0 1 2,581 14 6. 2,331 12 10 2,752 17 11 650 0 7 78 13 0 258 0 9 819 4 10 682 7 11 805 8 10 45 13 6 10 8 0 964 13 8 287 5 6 4.20 0 0 1,993 12 4 1,397 3 3 2,347" 1 5 386 1 2 51 0 6 254 3 4 794 5 2 1,452 15 3 519 15 10 I I I 2,668 8 4 1,072 11 9 1,215 7 2 5,507 2 9 4,800 1 7 2,778 5 7 2,116 0 8 925 0 6 267 10 3 2,894 6 8 1,151 8 5 2,482 7 10 3,622 18 8 1,278 1 1 1,157 2 7 6,419 2 4 5,370 8 7 4,950 3 5 485 9 7 25 14 6 331 2 5 1,059 1 9 572 10 7 1,296 S 4 15,651 10 1 5,054 14 6 6,636 15 6 42,018 8 2 30,569 12 2 7,191 4 0 24,984 7 10 9,712 0 9 33,535 5 11 2,384 2 7 500 0 0 3,804 8 8 756 12 4 I i I 109,554 6 2 10,046 2 1 284 4 11 1,555 13 2 324 5 0 1,548 10 3 263 12 9 441 16 4 13 5 4 418 15 0 420 1 8 1,101 9 0 115 17 0 115,757 11 8 10,046 2 1 962 6 5 18514 7 139 6 5 32 14 1 20 17 6 ... 2 17 5 174 4 9 62 18 3 57' 8 3 2 0 3 SUMMARY. Liabilities and Engagements, 1868-69 ... Financial Year 1869-70 117,823 18 2 356,465 15 1 356,465 15 1 2,992 2 0 29,387 15 7 29,387 15 7 269 14 6 1,559 2 10 1,559 2 10 2,882 19 7 13,888 9 0 13,888 9 0 4,157 15 4 858 12 11 4,157 15 4 1,823 2 11 8,628 17 1 8,628 17 1 J3,719 19 6 I 821 14 1 3,719 19 0 21,041 19 7 3,304 6 5 21,041 19 7 1,814 19 8 11,551 4 4 11,551 4 4 4,486 3 10 26,811 8 9 31,297 12 7 48,708 7 7 26,811 8 9 955 10 9 4,429 16 0 4,429 16 0 138,093 4 10 481,642 3 1 481,642 3 1 SUMMARY. Liabilities and Engagements, 1868-69. Financial Year 1869-70. Payments to Provincial Accounts 474,289 13 3 32,379 17 7 37,722 7 0 1,828 17 4 378 6 9 16,771 8 7 12,589 18 4 5,016 8 3 2,991 0 0 10,452 0 0 19,680 15 0 4,541 18 7 01 3 7 ! 24,-:106 6 0 2,532 8 1 13,366 4 0 15,191 18 8 28,558 2 8 5,385 6 9 619,735 7 11 139,856 5 0 Payments to Provincial Accounts. Totals 474,289 13 3 70,102 4 7 2,207 4 1 29,361 6 11 8,007 8 3 30,132 15 0 4,602 17 2 26,938 Ik 1 Totals. 80,006 0 2 5,385 6 9 759,591 12 11

B.—No. 2.

Table F. STATEMENT in Explanation of the Sums Payable and Paid to the Provinces on account of Consolidated Eetenue during the Nine Months from M the Ist Jtjly, 1869, to the 31st day of Maech, 1870.

57

FINANCIAL STATEMENT.

PROVINCES. Moiety of Receipts into Consolidated Fund from 1st June, 1869, to 28th February, 1870. Transfers to Consolidated Fund from 1st July, 1869, to 31st March, 1870. Payments on account of Services Provincially charged from 1st June, 1869, to 28th February, 1870. The twelfth-part of Interest and Sinking Fund on portion of Loans charged against Provinces from 1st June, 1869, to 28th Feb., 1870. Payable to Provinces for Appropriations (Columns 1 and 2, less Columns 3 and 4). Paid to Provinces from 1st July, 1869, to 31st March, 1870. Auckland Taeanaxi Wellington Hawke's Bat Nelson Maelboeough Canteebubt Westland Otago Southland £ 8. d. 101,020 14 9 3,256 2 3 36,305 14 9 12,493 18 8 34,112 19 8 3,692 16 11 47,729 11 6 36,831 3 7 102,155 8 11 11,872 13 2 £ s. d. 2li"l7 9 1,136 19 11 4,790 9 6 £ 8. d. 35,033 3 5 1,959 3 4 17,314 2 11 5,367 16 0 11,011 8 4 4,729 10 2 25,018 16 9 13,896 1 11 30,544 8 10 5,444 10 9 £ s. d. 28,265 4 4 1,130 9 11 6,401 13 6 3,935 16 3 3,420 16 4 5 16 0 26,629 4 7 7,743 3 0 22,902 12 6 20,153 8 6 Dr. £ s. d. 37,722 7 0 378 6 9 12,589 18 4 3,190 6 5 19,680 15 0 94 10 8 871 19 8 15,191 18 8 48,708 7 7 9,059 7 11 £ 9. d. 37,722 7 0 378 6 9 12,589 18 4 2,991 0 0 19,680 15 0 61 3 7 2,532 8 1 15,191 18 8 48,708 7 7 4,665 18 2 138,428 10 1 Dr. 9,059 7 11 Totals 389,471 4 2 10,805 5 4 150,319 2 5 120,588 4 11 129,369 2 2 139,856 5 0 BALANCES of the Consolidated Fund Accounts of the several Pbovinces on the 31st March, 1870. Balances Balances Dr. Cr. £ s. d. £ s. d. Auckland ... Taeanaki Wellington Hawke's Bat ... ... ... ... j" Nelson Mablbobough ... ... ... ... 33 "j 1 paid over on 29th April. Canibebtjbt ... ... ... 1,660 8 5 ... balanced by transfer from Land Fund in April. Wbstland ... ... ... ... ... ... r Otago Southland... ... ... ... 9,059 7 11 '.'.'. excess of Charges orer Revenue. £10,719 16 4 £33 7 1

8.-No. 2

Table G. SUMMARY of Eeceipts and Expendituee of the Public Account of New Zealand from the Ist day of July, 1869, to the 81st day of Mabce, 1870.

58

FINANCIAL STATEMENT.

Receipts. EXPENDITUEE. I Balances in hand on the 1st day of July, 1869. Receipts from the 1st day of July, 1869, to the 31st day of March, 1870. Imprests unaccounted for on the 1st day of July, 1869. Totals. Balances in hand on the 31st day of March, 1870. Expenditure from the 1st day of July, 1869, to the 31st day of March, 1870. Imprests unaccounted for on the 31st day of March, 1870. (See Statement below). Totals. £ s. d. Dr. 1,015 11 3 107,573 4 9 20 0 10 45,910 6 1 £ s. d. 1,131,205 16 2 164,680 8 1 225,663 18 8 92,549 10 7 £ s. a. £ s. d. 1,130,190 4 11 335,323 4 7 225,684 1 6 138,604 10 6 £ s. d. 87,955 4 2 31,873 19 9 10,681 16 3 65,782 13 6 £ s. d. 804,591 12 11 314,020 1 0 220,200 0 7 70,611 13 0 £ s. d. 237,643 7 10 Cr. 10,570 16 2 Cr. 5,197 15 4 2,210 4 0 £ s. d. 1,130,190 4 11 335,323 4 7 225,684 1 6 138,604 10 6 Consolidated Fund Special Fund Land Fund Trust Fund ... 63,069 11 9 0 2 0 144 13 10 Totals 63,214 7 7 1,829,802 1 6 152,488 0 5 1,614,099 13 6 1,829,802 1 6 : 196,293 13 8 1,409,423 7 6 224,085 o 4 Advances —Imperial Government „ to Provinces in Separate Account ... „ to Provinces under Loan Allocation Repeal Act „ under Auckland Reserves Act ,, under Bay of Islands Settlement Act „ Miscellaneous £486 18 5 1,847 13 6 35,046 5 8 2,101 3 0 7,449 12 10 177,153 6 11 £224,085 0 4

EINANCIAL STATEMENT.

Table H i STATEMENT of Beceipts of the Consolidated JVnd of the Colony of New Zealand for the Three Quarters, from the Ist July, 18C9, to the 31st March, 1870, with Estimated Fourth Quarter added.

B.—No. 2. 25

PROVINCIAL. ESTIMATED. GENERAL. Auckland. Taeanaki. Wellington. Hawke'sBay Nelson. JIaelboeo'. Canterbuey. Westland. Otago. Southland. 'OTALS. j June Quaetee. Total oe Ybae. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Customs Duties 129 7 3 162,242 12 6 5,015 9 4 56,907 12 7 20,560 0 6 55,378 12 4 5,059 11 9 69,475 9 7 58,496 1 2 167,378 11 1 19,507 11 3 1,150 19 4 196,000 0 0 816,150 19 4 «2( Customs Duties. ,, Seizures, Rents, &c. ... 49 11 7 24 17 9 4 0 2 3 14 3 27 17 6 110 1 3 I 100 0 0 C ,, Seizures, Rents, &c. C „ Bonded Warehouse Duties. „ Bonded Warehouse Duties 1,287 10 0 50 0 0 650 0 0 207 5 2 431 10 7 25 0 0 575 0 0 375 0 0 786 4 8 125 0 0 • ,512 10 5 4,722 11 8 Stamp Duties 2 6 3 14,355 7 6 510 13 0 4,885 6 4 1,278 1 7 2,958 13 2 40G 3 3 7,319 3 1 3,166 6 6 12,771 0 9 1,105 14 11 i,758 16 4 16,250 0 0 65,008 16 4 Stamp Duties. Postal 14 19 0 7,637 19 6 408 4 4 3,618 13 8 975 4 9 2,078 16 6 514 15 11 6,319 4 8 2,682 3 9 10,094 10 4 1,238 9 1 3i :,583 1 6 11,850 0 0 47,433 1 6 Postal. Telegraphic 364 9 1 1,410 6 10 658 0 1 1,821 6 1 535 7 6 2,367 14 2 1,877 17 7 3,617 11 4 427 14 2 i: 1,083 12 10 4,360 0 0 17,443 12 10 Telegraph. Judicial Fees and Fines : — Supreme Court ... Sheriffs' Offices ... District Courts Resident Magistrates' Courts Petty Sessions Courts 740 16 0 199 8 8 338 12 9 3,392 9 3 34 11 0 53 0 0 8 10 328 8 8 42 13 0 120 13 6 5 7 0 32S 17 0 12 17 6 113 10 4 2,605 12 8 34 10 0 113 7 6 590 11 2 35 16 6 152 18 10 0 5 0 288 17 8 2,920 4 10 941 18 6 97 11 0 132 5 3 3,806 4 9 35 4 11 59 12 0 4 7 0 1,351 8 8 519 14 2 873 6 0 1,040 16 11 291 7 4 i J - 7,700 0 0 30,776 13 1 Judicial Fees and Fines:— fSupreme Court. I Sheriffs' Offices. i District Courts. j Resident Magistrates' Courts. IJPetty Sessions Courts. 15 0 4 190 6 3 1,437 0 0 46 10 3 312 16 3 39 9 0 312 0 0 17 17 2 2,765" 5 8 108 9 4 283 16 11 9 5 8 Fees :— Registration of Land „ Deeds „ Births, Marriages &.C. „ JointStockCompanies Issue of Crown Grants Under " Arms Act, 1860 "... „ "Merchant Shipping Act, 1858" „ " Patents Act, 1860 " ., " Land Claims Settlement Act, 1856" „ " Aliens Act, 1860 " „ " Trade Marks Act, 1866 " ... „ " Lost Land Orders Act, 1861" ,, " Lost Licenses and Leases Act, 1865" „ "Oyster Fisheries Act, 1866" „ "Marine Act, 1866" „ "Steam Navigation Act, 1866" ,, "Licensing Ordinance Amendment Act, 1866 " ,, " Debtors and Creditors Acts " „ "Native Circuit Courts Act, 1858" ,, "Armed Constabulary Act, 1867" „ " Distillation Act, 1868 " ,, "Weights and Measures Act, 1868" ,, " Medical Practitioners' Registration Act, 1869" "6 10 6 71 1 0 24 10 0 3,084 3 0 576 11 0 100 13 6 1,141 7 3 389 6 0 171 14 0 40 10 0 227 9 6 28 7 0 30 1 0 92 17 7 12 9 0 0 6 0 20 0 0 1,100 19 6 18S 15 6 35 16 0 265 5 7 54 1 0 45 15 9 51 1 0 104 13 4 64 0 0 3 3 0 4 0 0 430 16 6 53 14 0 57 16 3 19 3 0 4 8 0 527 18 0 118 1 0 113 19 2 111 1 0 22 14 6 10 0 0 1 15 0 466 17 8 42 0 0 277 1 0 73 6 6 2<! 14 1 32 1 0 1 15 3 0 7 6 50 9 10 2,450 15 0 340 19 0 19 0 0 1,533 14 3 100 7 0 56 8 0 20 0 0 10 0 0 333 7 0 195 16 10 0 10 0 231 5 6 85 14 0 3 19 6 10 0 0 2,810 14 0 597 3 0 25 1 6 1,191 8 3 103 9 0 95 15 3 50 0 0 0 7 6 999 16 5 55 13 0 571 11 6 53 2 6 222 3 9 52 1 0 8 18 0 o" 7 6 368 8 10 24 10 0 .,814 15 0 :,226 6 10 211 2 0 t,876 11 8 959 12 0 411 14 3 272 12 0 104 13 4 64 0 0 3 3 0 4 0 0 10 0 0 2 17 6 1,610 19 3 371 14 0 [ ■ 6,400 0 0 25,553 5 6 Fees:— f Registration of Land. „ Deeds. „ Births, Marriages, &c. „ JointStockCompanies. l^Issue of Crown Grants, f Under " Arms Act, 1860." „ " MerchantShippingAct,1858." „ " Patents Act, 1860." ,, " Land Claims Settlement Act, 1856." „ " Aliens Act, 1860." „ " Trade Marks Act, 1866." „ " Lost Land Orders Act, 1861." „ " Lost Licenses and Leases Act, 1865." „ " Oyster Fisheries Act, 1866." „ " Marine Act, 1866." •J „ " Steam Navigation Act, 1866." „ "Licensing Ordinance Amendment Act, 1866." ,, " Debtors and Creditors Acts." „ " Native Circuit Courts Act, 1858." ., " Armed Constabulary Act, 1867." „ " Distillation Act, 1868." ., " Weights and Measures Act, ' 18<i8." „ " Medical Practitioners' Registration Act, 1869." 1,187 18 0 158 11 0 631 17 7 63 0 0 843 9 4 25 4 0 62" 1 7 27 6 0 11,697 6 5 2,900 0 0 15 0 0 153 13 8 1 15 8 38 4 4 102 12 3 15 0 0 296 5 11 9 6 0 9 6 0 S64 17 11 57 0 0 6 0 0 79 0 0 30 0 0 73 0 0 13 0 0 80 0 0 81 0 0 181 0 0 19" 0 0 964 17 11 619 0 0 4 8 4 0 7 6 0 10 3 0 10 2 1 11 36 15 4 20 6 4 12 0 7 76 11 3 10 0 10 0 Incidental Receipts ... 3,216 3 7 3 18 0 156 18 2 0 12 0 2 10 0 0 10 0 3 13 3 2 3 6 ,386 8 6 Incidental Receipts. Receipts (in Suspense Account) 7,700 7 2 4,600 0 0 7,086 8 6 ... I ... ... ,700 7 2 7,700 7 2 Receipts (in Suspense Account). Credits of Votes: —Liabilities ... „ „ Current 8,468 3 3 9,357 10 4 128 15 7 10 0 0 2 5 9" 6 0 1 12 6 61 15 1 5 0 0 13 2 0 3" 6 8 ,049 13 10 2,000 0 0 8,468 3 3 11,581 10 7 Credits of Votes :—Liabilities. „ ,, Current. Totals 24,753 17 0 67,273 4 9 7,498 15 0 1,054,522 16 2 Totals. 28,990 8 8 198,840 11 1 [6,679 9 3 72,181 3 10 95,238 6 5 71,047 12 10 205,786 16 0 24,072 11 4 SO: ,362 16 2 _252,160 0 0 June Quarter 6,600 0 0 63,300 0 0 ; 2,250 0 0 22,900 0 0 7,850 0 0 21,300 0 0 2,400 0 0 30,200 0 0 22,560 0 0 65,150- 0 0 7,650 0 0 25! ,160 0 0 June Quarter. Estimated Revenue of Year ... 8,929 9 3 95,081 3 10 Estimated Revenue of Year. 35,590 8 8 262,140 11 1 32,603 17 0 88,573 4 9 9,898 15 0 125,438 6 5 93,607 12 10 270,936 16 0 31,722 11 4 1,05 ,522 16 2 1,054,522 16 2 Treasury Bills ... ,, (in Suspense Account) Sale of Steamers and Defence Stores 198,400 0 0 79,650 0 0 ] ... ... 33,300 0 0 311,350 0 0 Treasury Bills. 9,000 0 0 9,000 0 0 Sale of Steamers and Defence Stores. Sinking Fund Release Account 31,061 0 0 31,061 0 0 Sinking Fund Release Account. Transfers: —General „ Provincial 82,338 1 10 211 17 9 1,13019 11 4,790" 9 6 4,665 18 2 20,862 0 11 1,660 8 5 103,200 2 9 12,465 13 9 Transfers: —General. ,, Provincial. Totals Totals. 395,978 10 6 262,140 11 1 9,14! 7 0 95,081 3 10 32,603 17 0 88,573 4 9 11,035 14 11 130,228 15 11 93,607 12 10 270,936 16 0 36,388 9 6 95,883 9 4 1,521,599 12 8 252,160 0 0 Add estimated svenue for June

B.—No. 2

Table II (i). COMPARATIVE RETURN of Customs Revenue at the several Ports of New Zealand, for the Three Quarters ended the 31st day of March, 1868-9 and 1869-70.

Table H (2). EETUE.N of the (litoss Customs Revextte for each Quarter, from September Quarter, 1858-9, to the Quarter ended 30th June, 1870, inclusive.

61

FINANCIAL STATEMENT.

PollTS. 1868-9. 1869-70. Increase. Decrease. £ ». a. 124,240 9 2 £ s. d. 157,323 0 5 116 16 0 1,577 12 3 686 1 0 2/107 9 2 5,021 9 1 12,127 6 10 44,858 14 5 20,564 6 0 2,921 12 2 846 4 9 571 12 1 763 18 8 22,697 14 1 14,761 6 3 35,914 1 4 39,014 14 4 1,743 3 5 61,520 4 10 740 1 11 7,334 7 2 6,835 10 11 160,614 17 5 15,592 1 1 457 16 2 3,421 17 7 2 10 10 £ s. d. 33,082 11 3 116 16 0 385 12 2 241 8 0 1,597 7 4 1,234 17 7 £ s. d. Auckland Thames Russell Mangorrai Hokianga . . New Plymouth Wangajiui Wellington Napier Wairau Picton Havelock Kaikoura Nelson Westport . . Greymouth Hokitika Okarito Lyttelton and Christchurch Akaroa Timaru ■ . . Oamaru Duncdin Invercargill Bluff II arbour Biverton Chatham Islands 1,192 0 1 444 13 0 810 1 10 3,786 11 6 13,651 15 9 44,998 16 5 16,394 7 4 2.908 7 4 618 12 9 78 16 5 21,870 8 0 20,291 13 0 32,138 15 2 53,572 16 11 1,440 12 2 60,585 12 4 749 1 3 7,195 1 2 6,255 3 10 156,611 9 0 17,482 5 10 477 9 7 3,277 1 10 7 2 2 4,169 18 8 13 4 10 227 12 0 492 15 8 763 18 8 827 6 1 » 1,524 8 11 140 2 0 5,53o' 6 9 3,775 6 2 302 11 3 934 12 6 14,558 2 7 139 6 0 600 7 1 4,003 8 5 8 19 4 1,890 4 9 19 13 5 144 15 9 4 11 4 Total 591,059 3 10 1620,436 10 2 53,053 15 5 123,676 9 1 Total Increase £29,377 6 4

Financial Yeae 1858-9. Financial Yeab 1864-5. September Quarter £40,420} December „ ??'lf? £160,836 March „ .... ... 41,8841 June „ 40,333; September Quarter £140,872} December „ 150,995 f »„ ,„ „„■ March „ 167,690 ( 3jO^'^' June „ 183,740; Financial Yeae 1859-60. Financial Yeae 18S5-6. September Quarter £41,491} December ,, ... ... 44,607 C _pi>rQn»7 March „ 46,298 C *5X7S '117 June „ 45,721; September Quarter £180,160-) December „ 198,418 ( -, flft „„, March , 208,791. f *'<yb>*->< June „ 208,855; Financial Yeae 1.860-1. Financial Yeab 1866-7. September Quarter £46,790} December ,, ... ... 51,850 f , m(f i, March „ 52,286 C UJl>'Ji-' June „ 55,227; September Quarter £199,452) December ,, ... ... 227,253; nan a nno March " MoilflSC £864 '668 June „ 217,780; Financial Yeae 1861-2. September Quarter ... ... £06,935} December ., ... ... 86,466 f f ,onqni March „ 98,050 X *»8a >3lw June „ 87,942; Financial Yeae 1867-8. September Quarter £196,916-) December „ 209,118 f „-„„ „„. „ i mAcrtor £/93,394 March „ ... ... 194,6X81 June „ 192,742 J Financial Yeak 1862-3. September Quarter ... ... £94,754} December ,, ... ... 118,526; „,„„„, March „ ... ... 127,465 C June „ 147,777 J Financial Yeae 1868-9. September Quarter £191,607") December „ 209,862 f £RM2M March „ 189,590 C ***Ml >'sl}i June „ 213,145.) Financial Yeae 1863-d. September Quarter £145,594 } December „ ... ... 171,001 f 4>rT7 nno March „ 147,778C *-t)i/ >UIJ-' June „ 152,629 J Financial Yeab 1869-70. September Quarter £205,100} December „ 215,677 ( £ 816 4J,i March , 199,6641 i8ib 'M!l June „ (estimated) 196,000; 19

B.—No. 2.

Table H (»)• STATEMENT showing the Bevenue received from Stamp Duties during the Nine Months of the Financial Year 1869-70 ending March 31.

62

FINANCIAL STATEMENT.

TJndee Schedule I. Adhesive. Bank Composition. Tees, Fines, and Penalties. Commission refunded. Totals. Impressed. Aliesive. Under Schedule II. Under Schedule III. Under Schedule IY. £ S. d. £ s. d. £ s. d. £ a. d. £ S. d. £ s. d. £ a. d. £ s. d. £ s. d. GrEKERAL — Chatham Islands ... 2 6 3 2 6 3 Provincial — Auckland ... 2,715 10 4 9,337 13 7 271 0 0 358 13 10 - 7 6 1,403 11 11 268 10 4 14,355 7 6 Taranaki 83 6 8 155 19 6 105 10 0 15 0 0 14 9 4 135 14 9 - 12 9 510 13 0 Wellington 1,826 14 0 2,072 0 4 137 0 0 24 13 9 21 10 6 683 5 5 120 2 4 4,885 6 4 Hawke's Bay S38 1 6 599 2 9 2 10 0 8 13 0 282 9 4 47 5 0 1,278 1 7 Nelson 408 4 7 1,292 0 6 179 10 0 96 11 0 960 14 2 21 11 6 -15 2,958 13 2 Marlborough 66 10 2 227 5 1 99 10 0 12 18 0 406 3 3 Canterbury 1,582 7 11 3,904 11 11 304 18 7 7 8 9 226 14 11 1,166 14 10 126 6 2 7,319 3 1 "Westland ... 597 2 11 1,351 8 10 67 10 0 15 10 0 1,109 12 6 25 2 3 3,166 6 6 Otago 3,281 15 2 6,397 10 7 284 2 9 72 18 0 121 5 8 2,517 10 9 95 17 6 - - 4 12,771 0 9 Southland ... 218 11 3 659 0 2 36 4 0 163 9 5 28 10 1 1,105 14 11 Total £11,118 4 6 £25,998 19 6 £1,388 5 4 £599 8 4 £384 7 11 £8,522 13 1 £746 15 11 1 9 £48,758 16 4

B.—No. 2

Table H (4J. RETURN of the Value of Imports and Expokts for each Port of New Zealand for the Three Quarters ending 31st March, 1870.

63

FINANCIAL STATEMENT.

Value op Imports. Value op Exports. Poets. September Quarter. December Quarter. March Quarter. September Quarter. December Quarter. I)^ m- March OnfUL. Quarter. Total. Total. £ £ £ £ £ £ £ £ Auckland 301,550 404,788 379,700 1,086,140 155,410 214,137 279,400 648,947 Russell 20 40 15,349 15,409 15,859 15,859 Mongonui 348 113 13 474 213 190 433 Hokianga 1,099 1,519 531 3,149 1,300 2,000 2,539 5,899 Kaipara 1,812 1,812 Now Plymouth 2,530 3,275 6, OSS 11,893 Wanganui 8,358 7,897 14,272 30,527 850 2,589 3,189 6,628 Wellington 98,829 115,572 116,662 331,063 7,339 19,530 138,989 165,858 Napier 18,309 29,102 25,918 73,329 312 45 103,550 103,907 Wairau 1,466 772 1,577 3,815 45,125 45,125 Picton 342 546 ■ 702 1,650 2,148 220 120 2,488 Havelock 20 20 Kaikoura 32 32 Nelson 50,147 70,452 68,288 194,887 14,332 16,037 19,356 50,325 Westport 34,882 17,019 9,005 60,906 83,499 64,675 89,794 237,968 Grreymout U 59,525 54,687 52,900 107,112 111,222 119,693 115,011 345,926 Hokitika 02,023 00,177 37,320 160,120 120,311 105,816 104,645 330,802 Okarita 1,719 2,283 1,01.7 5,G19 4,154 6,884 1,458 12,446 Lyttelton and Christchurch 95,477 166,928 132,223 394,028 48,660 15,149 372,353 436,162 Akaroa 43 45 19 107 Timaru 4,246 12,961 7,251 24,458 137 137 Oamaru 3,841 930 4,230 9,001 4,717 4,717 Dunedin 344,413 413,702 474,308 1,232,423 181,026 186,075 610,484 978,185 Inyercargill 21,557 28,190 23,639 73,386 3,970 3,443 79,388 86,807 Bluff Harbour 1,333 1,521 1,404 4,258 1,500 1,608 5,920 9,028 Riverton 1,327 4,329 4,449 10,105 660 3,200 3,860 Chatham Islands 7 7 15 15 Totals ... £ 1,120,042 1,396,855 1,377,621 3,894,518 742,426 761,726 1,989,182 3,493,334

B.—No. 2.

Table H (5) RETURN of the Value of Imports and Exports for each Province for three Quarters ending 31st March, 1870.

Table H (6) BETTJEN of the Quantity of Flottb and Grain Imported into and Exported from New Zealand, for the Ten Tears ended on the 31st December, 1809.

64

FINANCIAL STATEMENT.

Value OF Impoets OI? Pkotinkes. EXPOBTS. Auckland Tar an aid Wellington .. HaWke's Bay Marlborougli Nelson Wcstland Canterbury .. Otago Southland . . Chatham Islands £ 1,105,172 11,893 361,590 73,329 5/1.85 255,825 332,851 419,193 1,241,424 87,749 7 £ 672,950 172,486 103,907 47,613 288,293 689,174 436,299 982,902 99,695 15 Totals .. 3,894,518 3,493,334

181 iO. 1801. 180: 1803. 180' t. Imports. Exports. Imports. Exports. Imports. Exports. Imports. Exports. Imports. Exports. [ Flouv ... tons 300 18 4,832 446,202 14,980 16,188* Grain —■ 473 7,782 8,956 26,GC2 35,364 3,238 14,808 Barley ... bushels 30 Maize ... „ 24,102 18,818 58,590 200 195,225 127,240 Oats ... „ 5,973 36,773 65,619 119 207,573 505,460 459,185 3,580 Wheat ... „ 45,468 11,168 61,210 497 208,677 6,047 161,022 248,863 Not describc,d „ 7,502 325 18i 18i !5. 16. 186' 7. 180; 186: Imports. Bxports. Imports. Exports. Imports. Exports. Imports. Exports. Imports. Exports. Flour ... tons 19,801 23,264 2i 8,098 9711 8,871 1584 6,3471 504 Grain— Barley ... bushels 18,904 28,966 443 15,081 51,306 1,600 92,557 2,390 392 9,258 Maize ... „ 133,975 125,680 114,566 86,701 1,150 107,425 Oats ... „ 99,295 19,584 89,043 27,449 65,672 17,639 10,227 484,533 1,606 342,677 Wheat 331,110 3,473 266,186 4,769 235,473 131,915 188,477 94,897 183,256 81,758 Not described „ 2,024

B_—N"k 2:

g Table H (7)

65

FINANCIAL STATEMENT.

Theee Quarters ended 31st March, 1870. Three Quarters ended 31st March, 1869. Exporting Poets. Total Exported for the Three Quarters ended 31st March, 1870. Total Exported tor the Three Quarters ended 31st March, 1869. Quarters ended Quarters ended Province op 30th Sept. 31st Dec. 31st March. 30th Sept. Quantities. Value. 31st Dec. 31st March. Quantities. Value. Auckland Havelock Picton Nelson .. ' Nelson Westport Greymouth.. Greymouth Hokitika Lyttelton Dunedin Dunedin Invercargill.. Bluff Harbour Oz. Oz. Oz. Oz. Auckland Maiiborough Ditto Ditto 20,743 Oz. Oz. Oz. £ 40,557 30,008 13,563 22,256 41,674 14 91,308 1 Oz. £ I 317,549 77,493 244,102 500 j- 548 .2,192 166 Nelson Ditto Ditto Westland Ditto Ditto Ditto 2,287 20,393 15,215 12,413 29,493 1,039 3,208 15,919 15,994 13,696 25,945 1,668 48 3,223 22,085 15,798 12,665 25,808 354 66 46,386 2,160 34,282 13,855 10,346 37,942 1,172 2,724 26,381 18,570 8,115 38,183 1,315 152 3,014 23,209 19,035 9,991 32,169 1,078 20 35,899 9 664 I 114,122 4 457,382 143,230 572,920 I 123,147 492,663 140,331 561,324 Otago Southland Ditto Ditto 37,800 40,826 37,662 45,470 125,012 500,132 119,031 476,124 893 812 5 885 .1,239 1,760 12 [■ 2,595 10,382 3,020 12,080 Totals 140,776 158,630 157,326 152,221 164,786 166,264 456,732 1,780,300 483,271 1,867,214

a—wo. 2.

Table H (8) RETURN showing the Amount and Value of Gold Exported during the Financial Years from 1856-7 to 1869-70.

66

FINANCIAL STATEMENT.

1856-7. 1857-8. 1858-9. 1859-60. 1860-61. 1861-2. 1862-3. v Oz. Value. Oz. Value. Oz. Value. ■ Oz. Value. Oz. Value. Oz. Value. Oz. Value. £ £ £ £ £ £ £ 13,689 34,381 1,905,284 Auckland Nelson Otago Marlborough .. Canterbury Westland Southland o d CO o d O 6 O -1-3 o 4,337 8,873 491,686 Totals 6,147 976 3,784 17,220 66,730 9,482 36,747 23,818 6,341 24,568 449,279 1,740,956 504,896 1,953,354 1863-4. 1864-5. 1865-6. 1866-7. 1867-8. 1868-9. Three Quarters ending 31st March, 1870.! Oz. Value. Oz. Value. Oz. Value. Oz. Value. Oz. Value. Oz. Value. Oz. Value. Auckland Nelson Otago Marlborough . . Canterbury Westland Southland 3,910 10,772 537,817 7,205 23 £ 11,878 41,745 2,084,039 27,919 91 3,853 27,720 309,576 22,424 57,025 £ 11,627 107,491 1,199,610 85,878 226,573 5,410 135,275 203,850 2,418 390,238 £ 16,197 524,199 789,919 9,373 1,512,093 4,368 168,044 154,973 532 337,837 £ 8,847 651,173 600,521 2,061 1,309,120 22,984 241,031 149,545 700 147,248 106,442 10,703 £ 73,966 964,124 598,180 2,800 588,992 425,768 42,812 90,900 180,924 155,072 166 £ 286,335 723,696 620,288 664 91,308 114,122 125,012 548 £ 317,549 457,382 500,132 2,192 1,625 6,297 8,791 34,067 184,648 4,099 738,592 16,396 123,147 2,595 492,663 10,382 Totals 559,727 2,165,672 420,598 1,631,179 738,816 12,858,078 674,545 12,605,789 678,653 2,696,642 615,809 2,385,971 456,732 1,780,300 Total Amount of Gold Exported Total Value of Gold Exported 5,139,221 Ounces. £19,973,588.

FINANCIAL STATEMENT.

67

B.—No. 2.

Table H (9) EETUEN showing the Vamte of New Zealaxu Flax Expoeted during the under-mentioned Periods.

Provinces. 1866. 1867. 18G8. 1869. Quarter i ending 31st March, 1870. uickland Wellington *Tapier .. /larlborough kelson Canterbury £ 949 £ 3,575 £ 5,664 75 £ 24,013 1,158 £ 13,246 3,842 575 770 385 15,930 3,922 464 36 10 1 70 287 324 487 1,585 326 42 16,840 3,098 95 )tago iouthland Totals .. 996 4,256 8,137 45,246 39,134

EINANCIAL STATEMENT.

69

B.—No. 2.

THE TAKIFF.

STATEMENT OE PROPOSED INCREASES AND DECREASES.

INCREASES: To come into Operation at once.

Di iTT. Present. Proposed. Bacon and Hams ... Beef and Pork (Salted Butter ... Cheese ... ... per lb. ... per cwt. ... per lb. Id. 2s. Id. Id. 3s. lid. 4s. 3d. 2d. 6s. Biscuits ... per cwt. Potted Meats Jams Fish (Potted and Preserved) ... Fish (Dried and Salted) Oysters (Preserved) ... per cubic foot ,, ... ,, ... per cwt. ... per cubic foot 2s. 6d. 2s. 6d. 2s. 6d. 2s. 2s. 6d. 5s. 5s. 5s. 4s. 5s. Flour ... Wheat ... Barley ... Maize ... ... per 100 lbs. ... ,, ... ,, ... j, Free Free Free Free Free Is. 9d. 9d. 9d. 9d. Oats ... « Hice M aizena Groats ... ... per cwt. ... per cubic oot ,, 2s. 2s. 6d. Is. Is. 2s. 2s. Hay ... Chaff ... ... per ton. ... ,, Free Free Free 10s. Ml. Eggs ... Cordage of per cubic foot ... per cwt. 3s. 2s. 6d. Is. 6s. Soap Blankets and Rugs... Leather (other than sole) Saddlery and Harness Furniture Doors and Sashes ... Timber (Sawn) Shingles, Laths, Palings, Rails, Posts ... ,, per cubic foot ... per lb. ... per cubic foot ,, ... each and per pai: ... per 100 feet 3s. Id. 2s. 6d. 3s. 6d. 5s. 2d. 4s. 9d. 2s. 2s. Doubled Is. Is. Various Wine (in bottle) ... per gallon 4s. 5s.

FINANCIAL STATEMENT.

B.—No. 2

70

DECREASES : To come into Operation, Ist October, 1870.

Dtj ty Present. Proposed. "Sugar ... ... ... ... percwt. 9s. 4d. 8s. 4d. Bags and Woolpacks ... ... per cubic foot Is. 6d. Eree. Iron Fencing ... ... ... per cwt. „ Gates ... ... ... ,, Is. Eree. Eree. 4s. Nails, Tacks, Rivets, and Tools Various Eree. Hollo ware ... ... ... percwt. Weighing Machines ... ... „ Sash Weights ... ... ... „ Sad Irons ... ... ... „ Iron Safes ... ... ... „ Steel ... ... ... ... „ Axles and Arms ... .:. ... „ ■is. 4s. Eree. Eree. Eree. Eree. Eree. Eree. 4s. Is. 4s. Is. 2s. Eree. Copying Presses ... ... ... „ 4s. Eree. Grindery, and Lasts and Pegs ... ... per cubic foot Is. Eree. Copper Manufactures ... ... percwt. Japanned and Lacquered Metal Ware ... percwt. Papier Mache Ware ... ... per cubic foot 4s. 4s. Eree. Eree. Eree. Is. Liquorice ... ... ... per cubic foot Alum ... ... ... ... „ Arsenic ... ... ... percwt. Sulphur ... ... ... „ Spirits of Tar ... ... ... per gallon Pitch and Tar ... ... ... per barrel American Enamelled Cloth ... ... per cubic foot Hair Seating and Upholsterers' Webbing, and Springs Brewery and Distillery Plant ... 2s. 6d. 3s. 4s. Eree. Eree. Eree. Eree. Eree. Eree. Eree. Is. 6d. Is. 5s. Various Various Eree. Eree, A Bonus under reciprocity arrangement, described in E of 2s. per gallon on Australian Wine in bottle, and Is. per g ■rrr 1 * i inancial £ ;allon on j itatement, Australian