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1873. NEW ZEALAND.
FINANCIAL STATEMENT, (In Committee of Ways and Means, July 29, 1873) BY THE COLONIAL TREASURER, THE HONORABLE JULIUS VOGEL.
Mr. Seymour,— The Committee will, I hope, excuse my not prefacing by introductory remarks the Statement I am about to make. I will only say that it gives me much pleasure to be able to communicate to Parliament information which must satisfy honorable Members that New Zealand has never been in a more sound and prosperous condition. I place before the Committee various Statements and Tables in continuation of those with which honorable Members are familiar. An examination of them will, I am sure, prove interesting; but it is not necessary that I should now detail the results which they make apparent. To some of them I shall no doubt have occasion to refer. THE TEAK 1871-72. I will briefly ask the attention of the Committee to the actual results of the Financial Year 1871-72. It will be recollected that, in making the Financial Statement last year, I anticipated a surplus of £10,562 3s. 3d. with which to commence 1872-73; but that I guarded myself by stating that it was probable further outstanding amounts in respect of 1871-72, might subsequently come in. When, at a later period of the Session, I made a Supplementary Statement, I explained to the Committee that an error amounting to £9,373 9s. lid. had been discovered—that amount, due from Confiscated Lands, having been treated as an asset of the Consolidated Revenue, instead of the Defence Loan. I also explained that £13,372 lls. lid. of additional liabilities, less £2,500 which it was estimated would be saved on the whole of the liabilities, had come in for payment; making a total of £20,246 Is. 10d., and converting the anticipated surplus of £10,562 3s. 3d. into a deficit of £9,683 18s. 7d., with which to commence 1872-73. Those results included assets amounting to £247,471 19s. 9d., less the error of £9,373 9s. lid. before stated. There was thus left a total of £238,098 9s. lOd. estimated assets, of which various items amounting to £232,878 Bs. 6d. have been realized, leaving £6,860 4s. Sd. unrealized. It must not, however, be supposed that that amount is lost; on the contrary, we count upon its being fully recovered, as follows: —Transferable from Consolidated Loan Account, £4,734 175.; from the Province of Auckland, on account of Domain Reserves, £2,101 35.; and from the Province of Wellington, £24 4s. Bd. Apart from these sums, there would be a deficit upon 1871-72 of £16,238 2s. Bd.; but on taking them into account, the deficit will be
New Zealand never more prosperous. Tables appended.
Results of 1871-72. Anticipated surplus of £10,562 3s. 3d.,;
was converted into deficit of £9,683 183. 7d. at commencement of 1872-73 ; but, including assets,
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deficit reduced to £9,377 18s.
reduced to £9,377 18s.—some £300 less than the expected deficiency. With it we commenced the year 1872-73. But, in testimony to 1871-72, I should add, that, as far as it is possible to ascertain, the results stated cover every payment due on account of the year, as well as a sum of £46,000 on account of the deficit of 1870-71. THE TEEASUET AND AUDIT. Last year, I proposed to the Committee to mak® certain changes whereby the Controller-General and the Auditor-General would be associated as Commissioners of Audit, and to provide at the same time a thorough system of pre-audit. I introduced a Bill to authorize the required alterations. During the time the honorable Member for Auckland West held office, he was good enough to approve of what I proposed, and the Bill passed through this House before I resumed office. That measure has done all that I expected; indeed, I may say it has been more successful than I ventured to anticipate. There is now really a pre-audit of the expenditure. The Treasury cannot spend money without the authority of the law; and the Treasurer has the satisfaction of knowing that it is the duty of the Auditors to see that the expenditure is restrained within legal limits. The socalled Unauthorized Expenditure is paradoxically authorized by the law; and the law has considerably limited the Advance system. Amongst the most pleasing results of the new system is, that we have been able to secure a thorough identity between the accounts in the Treasury and the accounts in the Audit Office; but that result has not been achieved without some sacrifice on the part of the Treasury. It is gratifying, of course, to one who has to perform the task which devolves on me to-night, to be able to announce as large a credit balance as possible. It has been the custom to keep the accounts open after the end of the financial year, so as to admit of revenue, up to the 30th June, being received from all parts of the country and brought to account in Wellington. But the Auditors' balances are the actual balances in Wellington; and to preserve that unison of the two departments to which I attach so much importance, I agreed that the Revenue Accounts should be closed on the 30th June, and only those receipts brought to account which, having arrived in Wellington, the Audit, equally with the Treasury, could take cognizance of. Some of the receipts in different parts of the country were remitted by telegraph; nevertheless, the actual receipts for the year amounted to £4,500 more than was brought to account, so that in my statement of receipts lam a loser to that amount. Such a loss will, of course, only accrue one year. The balance of last year's receipts, which will pass into this, will compensate for any balance of next year which passes to to the succeeding one. In fact, henceforth a twelvemonth's revenue at the Treasury will represent a twelvemonth's receipts there. It is true that the statements of the receipts of the various departments during the twelve months will not exactly tally with the Treasury receipts ; but I see no difficulty that can arise in consequence. The Customs receipts of the year will be the receipts at the various, ports during the twelve months from the Ist July to the 30th June. The Customs receipts at the Treasury will be the Customs Revenue that reaches Wellington from the Ist July to the 30th June —a very slight difference in amount, but a great advantage in fact, considering that by the change the books have not to be kept open for a fortnight for retrospective entries, and that the Treasury and Audit Accounts will agree. A great deal of the success of the new system depends upon agreement between the Treasury and the Audit as to modes of procedure within the law but not made incumbent by the law —upon what may be termed Treasury and Audit-made law. It would be better that the results of this agreement should be legalized, because, although not inconsistent with the law they are such as any other Treasurer and any other Commissioners of Audit might refuse to acknowledge. But before proposing a measure which, besides consolidating: the existins; finance laws, woiild take cognizance of the improvements to which I have referred, it will be well, I think, to allow a little more time to elapse to determine Avhat, if any, other alterations or improvements might be engrafted on the system. It is a source of much pleasure to me, having so often complained of the difficulty experienced by the Treasury in working
All liabilities of year met, and £46,000 provided towards deficit of 1870-71.
Changes in Treasury and Audit, most successful. Now, a real pre-audit.
Treasury and Audit Accounts made identical.
To secure identity, Kevenue Accounts closed on 30th June ;
and £4,500, actually collected, not included in statement of year's receipts.
Apparent loss cannot occur again; and adrantage gained has been great.
Treasury and Auditmade law, should be legalized;
but there should be delay before proposing fresh legislation.
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wth the Control Office, to bear testimony now to the fact that the change of system has enabled the Treasury and Audit to work in harmony. Ido not wish it to be understood that the Treasury is less controlled. On the contrary, it is more so. But the control is regular and even, not spasmodic and harassing. I must express my acknowledgments to the Commissioners of Audit for the immense personal exertions they have made to ensure the success of the changes, as also to the Secretary to the Treasury and the staff under him for no less arduous exertions. The change by which the duties of Receiver-General and Paymaster-General are combined in one officer —the Secretary to the Treasury — has worked most satisfactorily, and the control, as I have said, is thorough and complete. Our Treasury system is now a great success. It is economical, for it has no branches throughout the country; and it does the work of all the departments, instead of, as in other Colonies, each department, by making its payments out of advances, requiring an expensive Treasury staff of its own. I do not say that a person who sells an inexpensive article to any private individual is not likely to get paid more quickly and with less trouble than he may get paid by the Government for a like article. The payments of the Treasury have to be made according to a system, whereas an individual can pay as he likes. But those who supply the Government do not make bad debts; they know the regulations under which payments are made; and they need not furnish the supplies, if they object to the necessary delays. I think the payments of the Treasury are as prompt as is consistent with the fact that each claim, after being approved by the officer authorizing the expenditure, has to be approved by the Minister at the head of the department; has to be examined and approved by the Audit Office as correct in computation, as within the votes of the Legislature, and as properly charged, a certificate being added that there is sufficient money to satisfy it; and finally, that it has to be approved by the Treasury. LOANS. Table A shows accurately the amount of the public indebtedness; and I may be excused for expressing the wish that certain newspaper writers and orators would study that Table before committing themselves to incorrect statements on the subject, such as they are fond of making. The indebtedness of the Colony for Colonial Loans amounts to £6,881,261. The indebtedness of the Provinces for Provincial Loans amounts to £3,488,475. .For the latter the Colony is contingently liable, and it is no doubt open to those who wish to exaggerate the Colonial indebtedness to treat this contingent liability as one that requires to be met from the Colonial Revenue. The fact is, however, that these loans are primarily charged on Provincial Ordinary Revenues, which include the revenues arising from Waste Lands, and there is no room to anticipate any difficulty in recovering the amounts. The risk the Colony runs as against the Provinces could, I think, be underwritten for a comparatively small sum. Before I conclude, it will be seen that the Government are not unmindful of the subject of increased Provincial indebtedness. In respect to that already incurred, as I have said, Ido not think the Colonial contingent risk an onerous one. The liabilities of the Colony, irrespective of Provincial account are £6,881,261. From this has to be deducted £415,352 12s. 6d. for Sinking Fund, leaving a net liability of £6,465,908 7s. 6d. Last year, the same Table showed £6,502,466 as the debt, and £306,440 11s. 3d., as the Sinking Fund; leaving £6,196,025 Bs. 9d. as the net debt. The amount this year is reduced by £45,000 under the head of Treasury Bills. I am glad to be able to say I have so far fulfilled the pledge I gave two years ago. It was then my painful duty to announce a deficit of £136,000; but I proposed that £10,000 of the amount should be borne by the Revenue of 1871-72, and that the remainder, £90,000, should be covered by Treasury Bills, payable half in one, half in two years. During the past year, the first of these parcels of Treasury Bills was paid off; indeed, payment was made a month before the Bills were due. I shall propose that the balance be paid off during the current year; so that the deficit of 1870-71 will, by the end of June, 1874, be made good, without any addition on its account to the permanent debt.
Treasury and Audit work harmoniously; control greater, but regular.
Treasury system now great success.
Payments as prompt as consistent with proper system of checks.
Table A.
Total Colonial Loans, £6,881,261.
Total Provincial Loans, £3,488,475.
Colonial risk for Provincial Loans, could bo cheaply underwritten.
Total Colonial Loans, less accrued sinking fund, £6,405,908 7s. 6d. as against
£6,190,025 Bs. 9d. last year.
£45,000 Treasury Bills paid off during year towards making good deficit of 1870-71 ; balance to be paid this year.
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The outstanding Treasury Bills, except those to which I have referred, fal due in November, 1874; and it is necessary we should decide whether they are in part to be paid off, and in part renewed, or whether the whole amount is to be added to the permanent debt. Bills for £20,000 of the amount were issued on account of Confiscated Lands; and I propose to pay them off out of proceeds arising from those lands. During the last year, as will have been gathered from what I have said, we paid off £45,000 of Treasury Bills; during the present year, we propose to pay off £45,000, besides the £20,000 just mentioned, which will leave at the end of next year an outstanding balance of £500,000. Ido not think we should find it difficult to make provision for paying off all the outstanding Treasury Bills during a term of years. The taxation it would involve would not press heavily on the community, if the present prosperous condition should continue. The Government incline to recommend that provision be now made simply for renewing these Treasury Bills for a short term of years, leaving it to the House to provide from year to year for paying off such amount of the Bills as it may be found that the excess of revenue over expenditure will permit. At the same time, the Government do not consider that there would be any abstract objection to the conversion of this balance of Treasury Bills into part of the permanent debt of the Colony. There certainly does not seem to be the objection to this course which might be urged against converting a temporary deficit into permanent debt. The Treasury Bills were, it is true, issued to make up deficiencies in the Ilevenue; but there was no clear line drawn between the objects which might and might not properly be charged to the future. The House has since decided —and there can be no doubt as to the justice of the decision—that it is perfectly legitimate to ask those who come after us to share in the expenses which Native disturbances have occasioned. The old system was a mixed one. Large sums were payable annually for interest and sinking fund on debts occasioned by Native difficulties; and besides that, considerable expenditure for the same purposes was placed on the yearly estimates. But the Revenue would not stand the double charge, and borrowed moneys came in as aids. Ido not think it would be difficult to trace the existence of these Treasury Bills to the exceptional circumstances created by Native difficulties; and if so, those who will enjoy the advantages of the removal of those difficulties ought not to complain if some part of the charge is devolved upon them, accompanied as it will be by an ample heritage out of w rhich to meet the liability. But, although I do not recognize any abstract objection to making the amount of these Bills an addition to the permanent debt, I am of opinion that by renewing them for a short term of years, in the Colonies, we shall avoid adding to the Permanent Debt, and much reduce the amount of interest till the Bills are paid off. Probably a saving of several thousand pounds a year may be effected; and a convenient opportunity will be afforded of paying off the Bills whenever it is found desirable so to do. Honorable Members are aware that we have made a bold and determined attempt to reduce the rate of interest payable on our loans. This attempt, which in some quarters has been characterized as a failure, I claim to be a success—a very great success, and one that will prove extremely valuable to the Colony. I wish it to be understood that, in reducing the rate of interest, we neither implied nor intended to imply any reproach to the former Colonial Treasurer, the Honorable Mr. Fitzherbert, for the rate which he fixed. In the operation of consolidation which he conducted at Home, he had to be guided by many considerations, and especially by the consideration that he could not afford to imperil success. If the anticipation did obtrude itself on his mind that at no distant day the rate of interest could be reduced, he had also to consider whether a reduction would be accepted at the time. I am persuaded that to have then fixed a lower rate of interest would have been attended with a responsibility from which he was bound to shrink. Mr. Fitzherbert obtained £97 for the portion of the loan he negotiated. This was a very high price for a drawing-fund loan; for it need scarcely be observed that repayments by annual drawings are attractive in proportion to the discount which is bridged over by a repayment at par. To have to submit to repayment of one or two bonds out of a number neld, is an inconvenience, unless the rate of repayment is considerably larger than
£20,000 Treasury Bills issued on account of Confiscated Lands, to be paid off this year out of proceeds of lands.
£500,000, outstanding balance, Treasury Bills, payable end 1874.
No abstract objection to addition of that amount to permanent debt.
These Bills issued consequent on Native difficulties;
and posterity should bear some part of charge of removing those difficulties.
But by renewing Bills for short term, in Colonies, addition to permanent debt avoided : and that course recommended.
P.eduction of rate of interest,
A success.
Why lower rate than 5 per cent, not proposed before.
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the amount for which similar bonds can be purchased in the market. But Mr. Eitzherbert obtained an exceptional price. The bonds subsequently fell to £92, and some of the original purchasers, I believe, suffered. When I acted as Agent in the negotiation of the first part of the Immigration and Public "Works Loan, the securities had again risen in value. The minimum fixed was £95 10s. If, when Mr. Eitzherbert negotiated the debentures he sold, the idea occurred to him of fixing a lower rate of interest than five per cent., he was probably confronted by the same difficulty that I was. I felt that it would be desirable to reduce the rate; but I found that to do so would involve an exercise of personal authority the responsibility of which I did not dare to undertake. The opinion, in short, of skilled persons was against it. Last year, when the debentures had risen to a premium—and when it became apparent that the value of our securities was positively reduced by the risk run by a buyer, of having to receive back at the end of any year a par price for the debentures he had bought at a premium—l semi-officially brought the matter before the Agent-General. He informed me in the same manner that personally he agreed with me, but that the opinion of others did not warrant his insisting on the course. In truth, there was, I believe, a not unnatural dread, on the part of those who bought and sold Colonial securities, of anything being done which might make them less popular. Those persons did not feel certain that the rise in the value of Colonial securities was of a permanent character, and they counselled delay. But in the Colonies, the feeling of the excellent nature of Colonial securities impelled the Colony of Queensland to commence the great operation of reducing the rate of interest. The attempt was boldly made, and the four per cent, debentures cleared 86 per cent. —a splendid result as compared with the rate at which money was borrowed on five per cent, securities, even with a premium attaching to them. Victoria followed with a four per cent, loan, and, not being in want of the money at an early date, fixed par as the price, intending to work off the debentures by gradual, or, as I may term it, retail sales. I found that the other Colonies were determined also to favour a four per cent, rate; but not wishing to force a change on our Home representatives, we contented ourselves with calling for tenders in the Colonies. The minimum was fixed at £90 10s. Had it been fixed at £90, the sale would have been at once concluded; and, but for the exaggerated accounts of probable disturbances in New Zealand, the bonds would have been cleared off without delay after the minimum was declared. As it is, the sales are progressing gradually. We have advices of £150,000 being sold. The parcel offered in New Zealand has all been taken up, the Trust Eund being the purchaser, except of a small amount. Putting on one side the sale in the Colony, I may refer with gratification to the operation in the adjoining Colonies. The money is borrowed on most favourable terms. The rate, including provision for payment of discount, is equivalent to borrowing money at 4-^ per cent.; and when I announced the Public Works policy in 1870, I asked its acceptance on the basis of the probable necessity of borrowing at the rate of 5-| per cent. We fixed £90 10s., whilst Queensland, commencing the reduction to four per cent, had to submit to £86, and even then concluded a splendid operation. Our debentures, too, are payable only in the Colonies, whilst those of Queensland are what are known as remittable debentures—that is to say, interest and principal can, at the pleasure of the holder, be made payable in London. Our four per cent, borrowing does not involve a sinking fund, whilst the debentures have forty years' currency —a striking proof of what I have always maintained, that drawing or sinking funds are not required by lenders of money, so that their obvious impolicy and costliness cannot be defended on the ground of necessity. I was pleased, after we had called for tenders in Australia, to receive a . cablegram from the Loan Agents, announcing their recommendation that in '- future loans we should reduce the rate of interest, and abolish sinking or drawing funds. At length, public opinion at Home, was, I suppose, equal to ' the reduction. The Agents said they could obtain for four per cent, debentures 86 per cent., and for 4^ per cent, debentures, nearly par. I may add, that . the Agents have been instructed to use their discretion as to reducing the ( rate, although I have expressed a preference in favour of four per cent. All the \ 2
Dread, at Home, of making Colonial securities leas popular.
But feeling in Colonies caused Queensland to take the lead. Her 4 per cent. Debentures cleared 86.
Victoria, fixed par price.
New Zealand called for tenders for 4 per cents.; minimum, £90 10s.
£150,000 sold in Australia; arid sales progressing. Parcel offered in Colony taken up, nearly all by Trust Fund.
General result, equal to borrowing at 4J per cent. In 1870, Public Works policy proposed on basis of 5J per cent.
No sinking or drawing fund.
After tenders called for in Australia, Loan Agents at Home recommended reduction..
Instructed to use liscretion; but 4 per ;ent. preferred by Colonial Treaaurer.
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Colonies are adopting the four per cent, rate, and when we make a change at Home it would be better to adopt the same rate. The result of the change that has been made, though it causes an increase of nominal indebtedness, will be to reduce materially the annual payment for interest; and there will no longer exist the necessity to make payments by a sinking or drawing fund, whilst we are at the same time borrowing more. We may at last show our appreciation of the doctrine, that the only true sinking fund is the excess of revenue over expenditure. The transactions in the several Loan Accounts during the year are shown in detail in Table B (1), and are epitomised in Table Gr. For the convenience of honorable Members, I will state here the total operations in the Defence and Immigration and Public Works Loans, from the date of commencement of those operations to the 30th June last. Under the Defence Loan Act, the amounts authorised to be raised, the amounts raised, the amount expended, and the balance left, are as follow :—
Nominal indebtedness increased; but material reduction in annual interest.
TTue sinking fund.
Tables B. and G.
Defence and Other Purposes Loan.
Immigration and Public Works Loan.
CONFISCATED LANDS. Among the accounts comprised under the head of Special Funds, is the New Zealand Settlements Act Account; and as an indication of the approach of the time when the revenue from these lands will cover the expenditure, I may refer honourable Members to Table G., from which it will be seen that this account exhibits, for the first time for many years, a balance on the credit side. But this balance, though representing the actual condition of the account as affected by receipts and payments up to the close of the financial year, understates the case, since it fails to exemplify the fact that not only has the revenue for the year been sufficient to cover the expenses of
Confiscated Lands
Balance on credit tide.
BeTcuue for year,
Teak. Amount Raised. Amount to be Expended. Amount Expended. Baiance. 1870-71 1871-72 1872-73 450,000 0 0 185,600 0 0 87,900 0 0 £ s. d. 450,000 0 0 185,600 0 O 87,900 0 0 343,500 0 0 160,000 0 0 150,000 0 0 £ a. d. 343,500 0 0 160,000 0 0 150,000 0 0 £ s. d. 279,221 0 10 198,131 13 10 142,415 1 7 £ s. d. Unapplied balance of suras authorized to be expended up to 30th June, 1873... Balance of amount raised in excess of expenditure authorized to 30th June, 1873, available for the service of the year 1873-74 723,500 0 0 70,000 0 0 723,500 0 0 653,500 0 0 653,500 0 0 619,767 16 , 3 33,732 3 9 33,732 3 9 70,000 0 0 70,000 0 0 Balance (see Table G.), consisting of— Cash —In Colony „ In London 653,500 0 O 76,204 10 10 19,770 14 10 653,500 0 0 653,500 0 0 653,500 0 0 653,500 0 0 95,975 5 8 Advances—In Colony „ In London 5,537 7 0 2,219 11 1 7,756 18 1 £103,732 3 9 Undex the Imm: Oth June may be sta igration and Public Work: ited thus :— Loan Act, the operations to thi Amount A' rAIXABLE FOE E: 'ENDITTJEE. Ybae. Amount Raised. Amount Expended. Balance Sums Raised. Stamp Duties Account. Total. 1870-71 1871-72 1872-73 £ s. d. 750,000 0 0 850,000 0 0 423,900 0 0 £ s. d. 99,953 19 3) 611,561 9 i[ 1,193,844 4 9) £ s. d. 118,537 6 5 £ s. d. 37,202 10 2 39,683 16 0 £ s. d. Totals 118,537 6 5 2,023,900 0 0 1,905,362 13 7 76,886 6 2 195,423 12 7 Balance (see Table Or.) Cash —In the Colony „ In London ... £', t 175,057 13 5 77,919 13 7 152,977 7 0 Advances —In the Colony ... „ In London 41,172 9 9 1,273 15 10 42,446 5 7 195,423 12 7
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management, including an unauthorized expenditure of £6,783 3s. 3d., but that it has also enabled the Treasury to repay £5,574 3s. 7d. of the debt of £13,650 16s. lid. due by this account to other funds at the end of the year 1871-72; and I may add that the receipts from Confiscated Lands brought to account during the month now current, are almost sufficient to discharge the balance of that liability. EEYENUE OF THE TEAR 1872-73. I will now invite the Committee to consider the results of the past year, 1872-73. I will state the estimated and the actual revenue under the several heads of collection ; or rather, I will compare what I estimated we should obtain during the year with the amounts actually received at the Treasury, in Wellington, up to the close of the Financial Year on the 30th June. There was, as I have already explained, a sum of £d<,504 16s. 6d., which, though received, could not be brought to credit in Wellington before the close of the year; but in order to show exactly what the total Revenue was under the different heads, I will state separately the amounts which were received and which would have been included in the year's accounts, had the books been kept open after the end of the year, as has been the custom. I wish honorable Members to understand, however, that in dealing with the accounts of the year, I shall rely upon the amount actually brought to credit in Wellington not later than the 30th June, instead of the actual revenue for the year. I will also state, for the purposes of comparison, the actual receipts during 1871-72 : —
covered expenses of year, and enabled repayments. Receipts during July nearly discharge balance of liability.
Revenue, 1872-73.
Received at Treasury, to June 30, £1,119,402 9s. Id. Actual Collection*, £1,123,907 ss. 7d. Comparison, 1871-72 and 1872-73.
Receipts at Treasury to 30th June, 1873, exceed, by £111,987 14s. 9d. the total collections during 1871-72.
Rbvekue, 1872-73. Heads of Receipt. Received at Wellington. Uot brought to account. Totals. Customs —Duties, Rents, Seizures, &c. Bonded Stores ... Fees, Marine Act, including Light Dues „ Arms Act ,, Sundry Acts Stamp Duties Postal Telegraphic Judicial, Fees and Fines ... Registration of Land „ Deeds „ Births, Deaths, and Marriages Fees on Issue of Crown Grants „ Miscellaneous Incidental Receipts ... ... £ e. d. 852,144 12 4 4,108 3 5 6,824 4 7 1,669 6 6 2,071 8 5 79,417 17 3 50,586 6 4 41,450 5 7 28,568 0 9 7,118 13 6 13,458 2 6 3,043 0 6 5,288 6 7 1,242 2 8 22,411 18 2 £ s. d. 2,791 0 0 21 8 1 27 5 0 4 11 6 351 10 7 276 8 5 500 10 11 414 15 7 14 2 0 26 18 0 24 3 6 11 0 6 0 18 9 40 3 8 £ s. d. 854,935 12 4 4,108 3 5 6,845 12 8 1,696 11 6 2,075 19 11 79,769 7 10 50,862 14 9 41,950 16 6 28,982 16 4 7,132 15 6 13,485 0 6 3,067 4 0 5,299 7 1 1,243 1 5 22,452 1 10 Totals 1,119,402 9 1 4,504 16 6 1,123,907 5 7 [FEEBENCES. Heads op Receipt. Revenxje oi' the Year 1872-73. Revenue op the Yeae 1871-72. Inereasi Decrease. £ s. d. 852,144 12 4 4,108 3 5 £ s. d. 775,183 19 9 4,078 16 7 £ s. d. 76,960 12 7 29 6 10 £ s. d. Customs —Duties, Rents, Seizures, &c. Bonded Stores Fees, Marine Act, including Light Dues ,, Arms Act... ,, Sundry Acts Stamp Duties Postal ... Telegraphic Judicial, Fees and Fines Registration of Land „ Deeds „ Births, Deaths, and Marriages... Fees on Issue of Crown Grants „ Miscellaneous Incidental Receipts 6,824 4 7 1,669 6 6 2,071 8 5 79,417 17 3 50,586 6 4 41,450 5 7 28,568 0 9 7,118 13 6 13,458 2 6 3,043 0 6 5,288 6 7 1,242 2 8 22,411 18 2 5,942 13 1 1,721 11 6 1,784 3 6 74,630 10 1 47,054 18 3 28,471 6 7 28,519 3 10 4,539 17 11 14,789 8 6 2,860 6 6 6,620 18 8 2,645 18 3 8,571 1 4 881 11 6 287 4 11 4,787 7 2 3,531 8 1 12,978 19 0 48 16 11 2,578 15 7 52 5 0 1,331 6 0 182" 14 0 1,332 12 1 1,403 15 7 13,840 16 10 Totals •1,119,402 9 1 1,007,414 14 4 116,107 13 5 Deduct Decrease 4,119 18 8 Net Increase 111,987 14 9 * £4,504 16s. 6d.. collected durini the month of June but not remitted to Wellin| >n, is not included in this total.
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Beyemie, 1872-73: Estimated and Received. f
Estimated, £1,076,000; receipts at Treasury, to June 30,£1,119,402 95.1 d.: excess, £43,402 9a. Id. Customs show greatest increase. Other increases and decreases.
* £4,504 16s. 6d., collected during the month of June but not remitted to Wellington, is not included in this total. The Committee will observe that, in response to the undoubtedlyprosperous condition of the Colony, the Customs Revenue takes the lead in the increased receipts. The Stamp Duties have done no more than come closely to the amount they were estimated to yield; which I suppose we may consider satisfactory, seeing how seldom it has been possible to form any trustworthy opinion as to what would be the result of this puzzling portion of our revenue-yielding machinery. The receipts of the Postal Department show an astonishingly close approximation to the estimate. There is a very large increase in the revenue of the Telegraph Department —an increase amounting to 25 per cent, on the estimate. There is probably no branch of the revenue which more faithfully represents improvement in trade and commerce than the Telegraph receipts; and the large increase during the past year may, therefore, be accepted as another proof of the prosperity of the Colony. The Judicial Revenue is some £4,000 less than was anticipated. Colonial Treasurers have at different times made merry over this item; and they have asked, Whether an increase was to be taken as indicative of depression, and a decrease as proof of prosperity ? I must leave it to honorable Members to decide this abstruse question each for himself. The Land Registration receipts have not equalled the estimate ; neither have those for Crown Grants. There appears to be so much confidence in the Government of the Colony, that purchasers of land feel very reluctant to withdraw their Crown Grants from official custody and to pay the necessary fees. In Miscellaneous and Incidental Receipts, there has been a considerable increase over the amount estimated. The Ordinary Revenue of the year was £1,119,402 9s. Id., to which has to be added—Credits to votes, £11,603 12s. Bd.; assets (irrespective of the assets already included as recoverable on account of the previous year), £7,208 16s. Bd.; and transferred from the Public Works Account as against Interest and Sinking Fund for works during construction, £98,500: thus making £1,236,714 18s. sd. as the total of receipts and assets. It would be tedious to the Committee were I to give even an abstract of the many interesting facts disclosed by the revenue tables and the tables relating to trade. I content myself by inviting honorable Members' attention to them. Table K. presented for the first time last year, I am able to extend, with results, I venture to think, with which the Colony has every reason to be satisfied. In continuation of the statement made last year, showing the proportion of Imports to New Zealand during several years, which, on account of their being non-consumable, may be considered to have added more or less to the permanent wealth of the Colony, I may state that during 1872 (there being no later return), the proportion of non-
Total receipts and assets, 1872-73, £1,236,714 18i. sd. Table K.
Proportion of Konconsumable Imports, daring 1872.
Differences. Heads of Receipt. Revenue op the Yeab 1872-73. Revenue AS Estimated. In Excess of Estimate. Less than Estimate. Customs —Duties, Rents, Seizures, &c. Bonded Stores Fees, Marine Act, including Light Dues „ Arms Act... „ Sundry Acts Stamp Duties Postal ... Telegraphic Judicial, Fees and Fines Registration of Land „ Deeds „ Births, Deaths, and Marriages ... Fees on Issue of Crown Grants „ Miscellaneous Incidental Receipts ... ... £ b. d. 852,144 12 4 4,108 3 5 £ s. d. 820,000 0 0 4,250 0 0 £ b. d. 32,144 12 4 £ s. d. 141'16 7 [ 10,564 19 C 10,000 0 0 564 19 6 79,417 17 3 50,586 6 4 41,450 5 7 28,568 0 9 7,118 13 6 13,458 2 6 3,043 0 6 5,288 6 7 1,242 2 8 22,411 18 2 80,000 0 0 50,000 0 0 33,000 0 0 32,000 0 0 9,000 0 0 13,500 0 0 3,000 0 0 8,500 0 0 2,750 0 0 10,000 0 0 586 G 4 8,450 5 7 582 2 9 3,431 19 3 1,881 6 6 41 17 6 43 0 6 3,211 13 5 1,507 17 4 12,411 18 2 *l,119,402 9 1 1,076,000 0 0 54,201 2 5 10,798 13 4 Totals 43,402 9 1
9
8.—2.
consumable to consumable Imports was larger than in any previous year, and amounted to £1,441,280 out of a total of £5,142,957. EXPENDITURE FOR THE YEAR 1872-73. The Expenditure during the past year amounted to £371,074 12s. lid. for Ordinary Purposes, and to £417,939 19s. sd. for Permanent Charges. From these sums I may eliminate £185,852 IGs. Bd. recoverable from the Provinces, paid on their account by the Colony. There is besides, £29,834 12s. Bd. unauthorized or supplementary expenditure, "which, added to the authorized, amounts to £632,996 Bs. 4d. To this has to be added—Payments for Provincial capitation, £207,032 6s. 6d.; payment to Public Works Account of half the amount of the Stamp Duties, £39,739 15s. Id.; and Treasury Bills paid off, £45,000: making together, £924,768 9s. lid. Now as to the liabilities. There remained at the end of the year to be brought to account for Permanent Charges payable in London, up to the 15th July, £252,679; for Eeserve Fund, £19,120 13s. Id.; and for other liabilities, £26,933 16s. 3d.: which amounts, added to the expenditure and to the deficiency of £9,377 18s. with which the year was commenced, show a total of £1,232,879 17s. 3d. for expenditure and liabilities. This sum, deducted from the means available, consisting of revenue and assets as already explained, and amounting to £1,236,714 18s. 5d., leaves a balance of £3,835 Is. 2d. with which to commence the year 1873-74. I beg honorable Members to observe how much simpler the accounts are this year. By looking at the condition of the balance sheet I had to submit last year and that which I submit this year, honorable Members will see the difference. I have not to speak of Deficiency Bills payable, nor of excessive payments to the Provinces; for, with trifling exceptions, and those not in the shape of open advances, there are no outstanding balances against the Provinces. I will, as on previous occasions, trace out, from a comparison of the outstanding assets and liabilities, the same result as I have already stated. First, we have assets from 1871-72, £6,8(50 4s. Bd. This amount is quite good, although it includes £2,101 35., for which I should be reluctant to press, due from the Auckland Domain Reserves. Next, come —Cash in London to the credit of the Consolidated Revenue Account, amounting to £233,476 ss. Id.; and cash in the Colony to the credit of the same Account, amounting to £27,861 19s. lid. There were advances outstanding in London (chiefly for pensions paid here on Imperial account), amounting to £14,875 10s. 5d., and advances in the Colony to £12,285 13s. 9d. There was besides, £1,932 4s. 9d. recoverable of the Unauthorized Expenditure for the past year; £2,405 Is. 11 recovered from the Imperial Government, but not brought to account on 30th June; and £2,871105. recoverable from other sources: making in all, £302,568 10s. 6d. On the other side, the liability consists of £252,679, payable in London, up to the 15th July; Reserve Account liabilities, £19,120 13s. Id.; other liabilities, £26,933 16s. 3d.: making altogether, £298,733 9s. 4d., and showing a balance of £3835 Is. 2d. with which to commence the year 1873-74. JEt is possible that liabilities not taken into account may yet come in; but this is the result as far as at present known, and it is not likely to be much disturbed. My Estimates of last year, as disclosed in the Financial Statement, and the Supplementary Financial Statement, together with the actual Appropriations, in excess, as they always are, of those first proposed, would have left on the year a deficit of £1,987 9s. lOd.; but the deficit of 1870-71 was £306 os. 7d. less than my estimate, while the Revenue has exceeded by £41,611 ss. 9d. the amount estimated. On the other hand, taking into account Unauthorized Expenditure, and the sums paid for Permanent Charges in excess of the amount estimated, the expenditure has exceeded by £36,094 15s. 4d. the amount proposed or expected. To the balance of £3,835 Is. 2d. with which to commence the year, I might add £4,504 16s. 6d. which, as already explained, we decided not to consider part of the revenue of the past year, it not having arrived in "Wellington on the 30th June, and the books not being kept open as in previous years to include such revenue. 3
L ' Expenditure, , 1872-73. I L i
i Payments, £921,768 9s. lid.
Add, liabilities, and amount of deficiency at commencement of year —Total, £1,232,879, 17s. 3d. Deduct this from receipts and assets, £1,236,714 18s. 5d.; Balance, £3,835 Is. 2d. Simplification of Accounts.
Test of stated balance, by comparison of assets and liabilities.
Balance of £3,835 Is. 2d., might be increased by £4,504 16s. 6d. of revenue not brought to account during 1872-73.
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I wish honorable Members to understand that after paying off all Liabilities, including Interest and Sinking Fund due in London up to the 15th July, and after paying off £45,000 of Treasury Bills, there remains to commence tho year 1873-74, a balance of £3,835 Is. 2d. In addition to the Treasury Bills £100,000 of Deficiency Bills outstanding last year were paid off. There were no Deficiency Bills issued during the year, and there are none now outstanding. PEOVINCIAL LOANS FOE PUBLIC "WOEKS. I do not know whether the Committee are prepared to consider one of the most important subjects demanding public attention; but I feel certain that there are few honorable Members who look upon public questions from a Colonial point of view, who do not feel that the time has come to decide in what manner for the future the Legislature intends to sanction the construction of a certain class of public Avorks which, for convenience sake, I will call locnl, becaiise either they do not belong to the main arterial system of Railways, or because they are of interest only to the Province in which they are to be constructed. I specially allude to such works as Roads, Bridges, Harbour Works, Reclamations, Buildings for Educational and, in some cases, for Charitable Purposes, Gold Fields Works, and light Branch Railways and Tramways. There was a time when works of this kind were freely constructed out of the proceeds of Provincial Loans. Those loans, after a while, so competed with Colonial Loans as seriously to injure the credit of the Colony. The Legislature then prohibited them, and has only allowed them since under exceptional circumstances; but in the improved condition of the Colony, the want of local works is making itself felt, and there are and will continue to be applications for them from all parts of the Colony. It is impossible to refuse to recognize the importance of these local works: they are to the different localities which they concern, what the arterial works are to the Colony. Tho principle of a Colonial system of public works should be diffusion, not centralization. In some Colonies—l will not be invidious enough to name them —we have seen that the principal effect of railway systems has been the building up a chief town or city on the seaboard; and with the increased prosperity of the metropolis, there has been dulness and depression in the country districts. I hope we shall guard against this in New Zealand. We can only do so by allowing districts to obtain the means for constructing local roads and works concurrently with the arterial communication which opens for them connection with other districts. Ido not object to districts on the seaboard being improved, nor to due care being taken to improve the metropolitan towns. What I desire to establish is this: That every part of New Zealand is in our charge—that we want every district to be improved. We do not seek for a few splendid and isolated, though prominent, examples of prosperity, with depression and stagnation elsewhere —silk on the surface, rags beneath. We want New Zealand to be prosperous, not because a few large capitalists are successful; not because, in the chief towns, men can rub their hands, and say " These are bright times; " but because you may march through the length and breadth of the land, and everywhere be greeted by a happy, contented, and nourishing population. To neglect the local works would make the chief towns drain the country; instead of which, we want the country to drain from the large towns permanent supplies of wealth, intelligence, and energy. But the Colony cannot do justice to such works. Neither my colleagues nor myself can be considered partizans of either Centralism or Provincialism. I confess myself to have frequently wavered in opinion, appalled by the difficulty, on the one hand, of preventing the Provinces from destroying the necessary power of Colonial action, and on the other, of preventing the centralising tendency from destroying the usefulness of local governing bodies without supplying or being able to supply their place. The policy 1 am about to elaborate I describe as the result of a search after equilibrium —or as nearly a state of equilibrium as is possible amidst the many varying circumstances and contending interests with which we have to deal. Broadly, we want the Colony to take charge of Colonial works; the Provinces to take charge of Local works. Broadly, also, we class Main Railways and Immigration as amongst
How shall local public works be constructed. Definition of " locnl" works.
Provincial Loans prohibited.
But there are great demands for such works; and their importance must bo recognized.
Centralization, as result of Public Works, must be guarded against.
General advancement of the Colony is to be sought.
Colony cannot do justice to local works.
Colony should take charge of Colonial works: Provinces, of local works. Main Railways
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Colonial works: other works necessary for the settlement of the country, we class amongst the Local. We do not say that there will not, from time to time, come before us for consideration works the classification of which will be difficult. If lam asked why the Colony cannot take charge of the whole of these works, I reply that we must no longer palter with a great question. Because of our disinclination to come to a decision, the past has been a series of compromises, and the Assembly has at times usurped Provincial functions without the requisite knowledge how to exercise them. If the Assembly means to do the work of the Provinces, then the Provinces should be abolished, the waste of labour on Provincial legislation be saved, and provision be made for a thorough system of Colonial government. I express the opinion that the legislative work of the Provinces and of the Colony, if performed by one body of men, would necessitate the sitting of Parliament for at least ten months out of the twelve. I shall be told that the parliamentary work of the Empire itself occupies but a small portion of the year. Granted, but the circumstances are different. In a country with hundreds of years of history, rapid legislation is rarely necessary and generally undesirable. A young country requires, as do young children, more care and looking after. The argument that an old and wealthy country requires proportionately more parliamentary attention than a young and comparatively poor one, would' be fairly paralleled by the assertion that infants might feed, and wash, and be mindful of themselves—that the attention of nurses should be devoted to adults. But where are we to find, in the Colony, men to whom its legislation should be confided, who arc willing to give ten months in the year to the task ? We find with difficulty men to whom ambition of the power to be useful, and of the position of a Minister, is inducement sufficient to lead them to consent to the personal sacrifices the position entails; but to be simply Members of Parliament does not offer adequate temptation to reconcile men to entirely relinquishing their occupations, and we have not in the country a sufficient number of leisured men on whom to rely for its legislation. Therefore, if a strictly Colonial system were the best, it could not be satisfactorily carried out; but I am not sure it is the best. Even in the United Kingdom, thoughtful men begin to see the necessity of a system of government intermediate between the Central and the purely Municipal; or, in other words, of strengthening the system of County government. In the Colonies, I think, the want of Provinces has shown itself, and to supply it Road Districts are becoming powerful by some such process as that by which, according to Darwin, man has developed from a lower type. Road Boards, by the process of natural selection and the survival of the fittest, develop into Shires, and Shires may develop, indeed are developing, into Provinces. I may be told that man's perfection arises from his slow development. Grant that in our case the highest form of local government has been too rapidly developed and is full of imperfections: surely it is better now to work from the vantage ground obtained, than to endeavour to throw back our local system, in order that it may attain a higher form more slowly. But my illustration would do me injustice if it be held to indicate that I disapprove of Road Districts or wish to see them abolished. On the contrary, I want to see them permanent, and I believe that permanency can be better established by an intermediate form of government to work with them and OA rer them, than by starting them on a career of ambition to supersede themselves by the attainment of a higher and different form of power. In the system of diffusion which is to make the whole Colony prosperous, Road Boards have a most useful part to play, and it would be as improper to allow them to usurp Provincial power, as to allow the Provinces to usurp Colonial power. We arrive, then, at the conclusion that certain works should be carried out by the Provinces with borrowed money; the next question is, " Who is to borrow the money, and how is it to be borrowed?" We have great objection to the Colony borrowing it. If the Colony borrow the money required for Provincial works, it will have, to pay more largely for its own Loans, because its borrowing power will be more largely exercised. In theory lam aware that objections may be raised to this proposition; but I think, without an abstruse discussion on financial economy, honorable Members will agree that the tendency
and Immigration, Colonial: Other necessary works, Provincial.
Too much of compromise in the past.
Legislative work of Provinces and of Colony cannot be performed by one body. Example of Great Britain, not to tho point.
Men cannot be found to devote time necessary for all legislative work.
Therefore, strictlj Colonial system unworkable. Necessity of something akin to Provincial Government recognized elsewhere.
Road Boards should be made pormanent: how it can best be done.
If Provinces are to carry out local works, with borrowed money, who should ' borrow it, and how ? Why the Colony cannot do it.
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12
of borrowing for Local as well as Colonial purposes, would be to increase the cost of the money required for the purposes of the Colony. Then the Colony is not in a position to decide on the expediency of borrowing for Local wants, unless it assumes the functions of a Province. Let us suppose a particular bridge to be asked for. If it is asked for in a Provincial Council, it is discussed by men more or less conversant with the circumstances. The papers referring to this and kindred wants are before them. It is their duty to study the subject. But it is not the duty of the Members of the Assembly to study whether or not a bridge is required over a particular river. Only a few Members can know anything of the matter. We cannot get seventy Members to study local questions, interesting enough to six other Members, but with which it is not the business of any of the seventy to interfere. If such work is to be done, you must have a ten instead of a three months' Session. What you may, it is to be feared, get Members to do is this —that one six will say to another six, " ISo doubt you are right about your bridge; we believe every word you say, because we have a bridge in a similar position. Bridge us, we'll bridge you." Thus, you have twelve members with two bridges, and they find twelve other members who want a road; and these twenty-four find twenty-four others wanting a bridge or two, and a road, and perhaps a lunatic asylum to complete the balance; and so you have forty-eight members voting for Local works, no seven of whom know anything about any one work of the many they all unitedly support. Why should not the Provinces themselves borrow ? I shall at once be told, " Because the Provinces cannot borrow without the Colony becoming liable. This was why Provincial borrowing was stopped before, and the Colony accepted the liability for all Provincial borrowing to date." I admit the great difficulty of deciding on a plan which, while it would give sufficient security to the capitalist to induce him to lend, would yet give him no claim on the Colony. I shall not examine all the technical causes which led to the necessity of a former recognition of Provincial loans, because some of them may obviously be provided against. For example, it can be explicitly stated in an Act, that the Colony is not liable for a loan. Again, the liability argued from the power of the Central Legislature to otherwise dispose of the securities purported to be given by Provincial Legislatures in Ordinances approved by the Governor, can be satisfactorily met by refusing to allow any but specific securities to be given. The great difficulty in limiting the liability of the Colony is the difficulty of limiting its duty to compel, by its government and its laws, satisfaction of the claims which the borrower has against the lender. Long since, in treating of this matter, I termed it an undisclosed guarantee, and I argued that it existed on the part of the Imperial Government in respect of Colonial Loans. If the Imperial Parliament enacted that it was not responsible for the payment of Colonial Loans, although it would thus escape a direct liability, it would not escape the legitimate demand of its subjects that the law should be enforced. If the law said, as in most cases it does say, that certain loan payments are to have priority over other payments, and that no payments whatever are to be made without the Governor's warrant, it would follow that if the Governor obeyed the law, no payment could be made for any public service over which the loan payments had priority. In other words, in these Colonies, where the loans have been made prior charges by the Acts which authorize them, the Imperial Government would only be enforcing the law —and by any other course their servant, the Governor, would be breaking the law —by insisting that the current loan liabilities for interest or principal should be satisfied before any payments were made for the ordinary public service. For the maintenance of law and order, the ordinary public service is necessary; therefore, it would become a requirement, in the interests of civilization, that the loan liabilities should be discharged. Ido not say that any investor in Colonial bonds has argued out the subject in this way; but I feel sure that the conviction that the Imperial Government is bound to see that none of the Colonies commit default, underlies in great measure the causes which have contributed to make persons willing to pay higher prices for Colonial Loans than for the securities of any other country except those of Great Britain, and, I believe, Belgium. The unguaranteed securities of India and the Colonies com-
Besides, Colony cannot decide expediency of proposed local works.
Objections to ProTinces borrowing.
Some causes of former Colonial recognition of ProTincial Loans, can be guarded againit.
Limitation of Colonial liability.
If legal priority given to loans, prior payment to lenders can be enforced.
Belief that Imperial Government is bound to prevent Colonial defaulting, is a great cause of high value of Colonial securities.
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mand higher prices than the securities of such countries as the United States, Germany, and Russia. The considerations I have pointed out are not foreign to the question, whether the Colony can permit the Provinces to borrow without becoming liable for their debts. It is not sufficient to say in any Loan Bill that the Colony is not liable for the debt: the duty still remains to enforce the law. It is true that there may be an enactment without a power in the administration to enforce it, or without a penalty provided for non-fulfilment. If the Colonial Loan Acts merely said that loan payments should have priority, and the law provided no means to enforce such priority, then I could not have argued that the J Imperial Government are in the position of undisclosed guarantors. But I founded \ my argument on the fact that the law also provided that all payments should be 3 initiated by Governor's warrant; and the Governor being an Imperial servant, the Imperial Government would be responsible if their nominee did not respect the priority which the law established. Two instances in connexion with Provincial Loans will show what I assume to be the liability of the Colony and its i non-liability. Suppose that an Act of the Assembly authorizing a Provincial Loan ] gave security over the Provincial land revenue, and over some special Provincial i tolls: the Colonial Government would, I hold, be liable to see that the* land revenue was applied in the order of the priority fixed by the law, because the collection and application of the land revenue is within the control of the Colonial Government. But the Colonial Government might have no power to enforce the law in respect to the tolls. The Act might be silent in respect to the machinery by which the Provincial authorities could be compelled to apply the tolls in accordance with the intention of the Act, and the Provincial Government might laugh alike at remonstrance and threat. In such a case, however, although the Colonial Government would be powerless, the Legislature would doubtless consider itself bound in good faith, and in accordance with public policy, to compel compliance with its enacted law. So that, for all practical purposes, we may consider that if the Colonial Legislature authorize the Provinces to give any security for 3 loans, the Colony is bound to see that such security, if given, is valid and J enforceable. It may seem that I have discussed this subject at unnecessary length; but when I say that I am about to make proposals to enable Provincial Governments to borrow, it is impossible to over-estimate the responsibility which devolves On me to invite honorable Members to examine minutely the liability which they are asked to cast upon the Colony. We dare not allow the least doubt to exist as to the exact measure of the Colony's liability; and Ido not shrink from affirming that it will be our duty to define exactly how the law is to enforce the provisions : which, by the action of the Legislature, acquire the force of law. J The Committee will, then, be prepared to learn that we propose to submit to the Legislature a measure to enable the Provinces, by virtue of Provincial Ordi- I nances, to borrow money within the Colonies only. I will indicate its nature. It "will \ empower Superintendents and Provincial Councils to pass Ordinances authoriz- i ing loans for particular ptu*poses, namely, Harbour "Works, including Wharves, ' Jetties, and Docks; Reclamations, Branch Railways, Roads, Bridges, Gold Melds ) Works, Hospitals, Lunatic Asylums, and School Buildings. The security, it 1 will be proposed, shall be in all cases of a more or less special nature. ' For Reclamations, we propose that special security shall be given over ] the proceeds from the land reclaimed; and if reclamation is effected in connection with Harbour Works, then the security may be over Harbour, Jetty, and Wharf Dues, or any one or more of them. As to School Buildings, Hospitals, and Lunatic Asylums, it will be proposed that the security shall be over reserves or endowments appropriated for either of those purposes, but without necessarily involving power of sale. Where the Trusts merely leave to any such institutions the enjoyment of revenue resulting from reserves or endowments, it will be proposed that, as regards interest and sinking fund on account of the loan, security shall be given only over such revenue. As regards Roads and Bridges, security may be given over tolls, if any; and, as to Branch Railways, the excess of traffic receipts over expenditure may be 4
STature and extent of Imperial responsibility for Colonial Loans.
Extent of Colonial Liability or NonLiability for Prorincial Loans.
Duty of Colonial Legislature.
Mode of enforcing security must be deilned.
Provincial Ordinances to authorize borrowing, but only in Colonies. Works for which loans may be obtained. Security to be special, in each ease. Examples.
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made part of the security. With regard to each of the three last-named classes of works, we shall also propose that, with the consent of a majority in number and value of the rated residents in the district within which the works are to be constructed, the security of a special rate may be given. Eor works on the Gold Fields, we shall propose a special security over a portion of the Gold Fields Revenue withiu the district benefited, besides security over rates, tolls, or charges. Further, we shall propose to include in the Act a provision that, upon the request of the Superintendent and Provincial Council of any Province, 15 per cent, of the Land Revenue may be paid to a Provincial Loan Account, and that this fund shall form part of the security which may be given for any of these Provincial Loans. We shall also propose that in certain cases the Assembly may authorize any Province to borrow against special blocks of land to be specified in an Act of the Assembly. The Bill we shall introduce will be so framed that lenders of money in any of the cases referred to will not have any other security, or securities, than that, or those, mentioned in the Provincial Ordinance respecting the particular loan; and no security for such loans will be permitted to be given over the general revenue of a Province. There will, in short, be included in the Bill a full and explicit declaration of the non-liability of the borrowing Province or of the Colony, except to the extent and in the manner specified in the Provincial Ordinance authorizing each particular loan. The machinery for giving effect to the Ordinances, and for compelling the setting aside of the various securities, will be of a stringent nature; and a remedy at law will be given to lenders to enable them, if necessary, to require specific performance of the conditions under which money is borrowed. The provisions of the Bill will, as far as possible, encourage the passing of a separate Ordinance for each separate work or group of works in a district, the object being so to shape the several loans as to make it to the advantage of those persons who are interested in a particular work or works to set apart a portion of their annual savings, for the purpose of lending the money in aid of the construction of such work or works. Whilst it is by no means desirable that a Government should encourage the people of a country to invest their whole savings permanently, and therefore to abstain from engaging in enterprises calculated to be reproductive, it is not undesirable that a portion of the savings of the people of a country or the residents in a district should be so invested. Especially is such the case, when those to be directly benefited by public works are enabled to invest savings in those works more profitably than in ordinary securities, and when it will practically be the fault of such persons themselves if the security is not as good as that offered by other permanent investments. We are in effect proposing to adopt the principle which has covered Great Britain with local works, lloads, harbours, bridges, and many useful institutions of the United Kingdom are due to local taxation aided by and securing local loans. PUBLIC, WORKS. Papers have already been laid before the House, from which it will be gathered that Public Works are proceeding very satisfactorily. I have no doubt the time will come when the rapid manner in which the Public Works Department was organized, and the revolution completed which gave to the Colony the charge of the construction of the main lines of communication, will be regarded with astonishment and admiration. lam not unmindful of the fact that a Government was sacrificed to the impatience of the House in respect to that very organization, of the extraordinary development of which I am now expressing admiration. But that impatience was not unnatural, under the circumstances of intense sympathy with which the country responded to the initiation of a comprehensive system of Public Works. We have now a Public Works Department, the arms of which extend from one end of the Colony to the other; and which has under its control and management a, system of Public Works that will open up communication throughout the two Islands. But we must not overtax it; and I implore honorable Members to aid the Government in their determination to maintain for the Public Works Department a Colonial character. I will ask the permission of the Committee to devote a few" words to
Special Rates may be authorized in districts. Security for Gold Field Works. Further security— Provincial Loan Fund to be created out of Ordinary Land Revenue. Special Blocks of Land may be borrowed against.
Non-liability of Province or of Colony, except in mode and to extent specified.
Separate Ordinance for each work or group of work»;
so that settlers specially interested in works may invest savings in aid of their construction.
This not undesirable.
In fact, principle so successful in Great. Britain, proposed to be adopted here.
Papers as to Public Works.
Papers as to Public Works.
15
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the history of the Public Works policy. I will say no more than seems necessary to accompany the statement of what the Government intend now to propose. On the 28th June, 1870, the Policy was proposed in the Financial Statement I had the honor to make. Within three months it became law: but in the meanwhile it underwent, as might be expected, some modification. That modification naturally took the shape of a larger control by Parliament; in other words, a larger discretion was given as to whether the railways should be essentially parts of trunk lines or such fragments of lines as Parliament from time to time approved. It was a portion of the proposal that the railways should be constructed partly by cash, partly by guarantee, and partly by land payments; and whether or not there were land payments, it was proposed there should be extensive land reserves. It would have been deemed unwarrantable presumption at the time, to have trusted to the Colony being able to make cash payments for the extensive works proposed. Indeed, it was contended by some that the Colony would find it difficult to procure even the comparatively small amount in cash originally asked for. As during the next two years it became evident that the Colony could pay in money if it desired to do so, the conviction gained ground that the guarantee system and payment by land ought not to be employed ; so that payment in money is the one system employed, and under it demands are springing up in every direction not only for railways but for all descriptions of Public Works. As so much has been said respecting the calculations which accompanied the first proposal, I will ask honorable members to recollect, first, that they were adduced as purely conjectural. I said "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. lam 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." The question, in considering results, depends upon the date taken as the commencement of the railways; and I am substantially correct when I say that the commencement was not really made until the first loan was raised in London, say a little before June, 1871. If that be looked on as the commencement, have we reason to be anything but satisfied with the results ? The Stamp Duties have not, it is true, reached the expected amount; but those same Stamp Duties have puzzled and disappointed all Colonial Ministers, and they seem to be annoying and burdensome in proportion to their indisposition to expand into fairer results. I contend that we have not yet come to the third year, when I anticipated an aggregate return of £10,000, over and above working expenses, from the railways opened up to that time, by the expenditure of the two and a-half millions which my calculation supposed would be expended. We have not arrived at the time —we have not incurred the expenditure; but within the financial year we shall have opened, besides thirty-one miles of railway in Canterbury, and the Port Chalmers line, both now in full work, at least one hundred and twenty-five miles additional in various parts of the country. It may be said, we have not the land returns that were anticipated. If this is alleged, may I not ask honorable Members to consider the unusual demand that has sprung up for land. True, the proceeds have not passed direct to Hallway Account, but the Provinces that are to pay for the Railways have received the revenue. And this brings me to the point at which I commenced my historical digression,—our proposals for the future. We feel that the land question cannot remain as it is. We cannot tell the source, nor the duration, nor the result of this great demand for land. We know that the products of land —food, wool, timber, iron, and coal, in short almost everything on which depends the necessities and the comforts of life, and the realization of the wonderful advantages which science has
History of the Public Works Policy.
When a commencement was made.
Not yet reached the third year.
But within this financial year, 125 miles of railway will be opened, exclusive of 31 miles in Canterbury, and of Port Chalmers line. The Land Question
cannot remain as at present.
8.—2
16
given to civilisation—have risen in value : that is to say, a sovereign possesses in respect to them a less purchasing power, and the value of the land from which alone they can he obtained must rise with them. Land, wherever situated, is beginning to command a value for its produce and for the facilities it offers for bringing that produce to market, quite irrespective of its suitability for residence. The land which amongst the everlasting snows and ice of the far north yields coal and timber has its value —commerce is cosmopolitan— and the capitalist will buy it without thinking of ever visiting it. Attention is being turned to Colonial land ; and though I will not say it has yet been the case, it may and will be, that land in large tracts will be bought for mere speculation. We do not want this; but if we do, are we not entitled to ask for the land the land's worth ? To the bond fide occupier—the person who takes no more land than that on which he can make two blades of grass grow where one grew before —we may give the land and profit by the transaction. But to speculative capitalists is it right that land should pass for such prices only as it commanded when the land products were less valuable, when money was dearer, when the country was not opened up by railways, or population settled on it ? We do not wish to interfere with the land laws in the various Provinces, but if it is the wish of those who control those laws that land should pass away in huge quantities, we cannot forget that it is right we should require that some of the land should be set apart as security for the Railways. I have asked the Committee to follow me to two conclusions —That we must not forget the essentially Colonial character of the Public Works Department; and that we must take land as security for the Railways we are constructing. The Committee will, therefore, be prepared to hear that the Government will not seek the sanction of the Assembly to the construction by the Colony of Branch Railways, and that they will only ask for authority to construct other Railways, in addition to those already authorized, upon the condition that land be given as security. We are not prepared, however, to shut out from railway advantages those Provinces which have not land, because of its remaining in the hands of the Maoris. In respect to them, we propose that a portion of the proceeds of lands purchased from the Natives, or a portion of the lands themselves, shall be devoted entirely to railway purposes. We do not propose that this land security should supersede the liabilities of each Province for its Railways; we do not propose that the lands of one Province should become security for the Railways of another; nor do we propose arbitrarily to alter or to interfere with land laws. We express the opinion for what it is worth, that, except for purposes of actual settlement, it is now wise in a pecuniary sense to charge for land a higher price than the early settlers paid for it. Indeed, the early settlers would have the right to complain if speculators thousands of miles away could now, after the lapse of years, command, for the mere purpose of speculation, land which the labour of the settlers has made valuable, at the same price as the pioneers had to pay for it when they redeemed it from the wilderness. But we will not compel or control. We propose to provide, by Bill, that Railway Reserves shall be subject to the laws which apply to other Waste Lands within the Provinces, leaving it to agreement between the Governor and the Superintendents to provide for special settlements, or to give special facilities to settlers. Those Provinces which are liberal will reap the benefit The Government will concur in the utilization of the Reserves for purposes of settlement. They will agree to special settlements, in the profits of which labour and capital shall both share. They propose to give to Immigrants who pay their own passages land subject to occupation conditions. They will be wiJling, within those Provinces which desire it, that parts of the Railway Reserves should be open to occupation under some such homestead-law as that which prevails in Auckland. I make these explanations to show the wide discretion which the Government, although they exact security for Railways, are willing to accord to Provincial authorities. As a matter of opinion, I may say that a homestead-law with free grants of land may be an error in the direction of too great liberality—in other words, I think that payment, not in advance, but deferred, may without hardship to the settler, be asked from him. We shall seek, as security, land to an extent which, taking it at its nominal value, will
Advance in vulue of land.
Colonial lands
must not pass to speculators unless at proper price.
No wish to interfere ■with Provincial Landlaws ; but, if desire shown to sell land in huge blocks, security for Railways must be taken promptly.
Authority for additional Main Railways not to be sought, except land security given.
Except to bond fide settlers, price of land should be increased.
Railway Reserves to be subject to Land Laws of respective Provinces. Settlement —Special and otherwise.
Land to be given to passage-paying , Immigrants. Railway Reserves may be settled upon, under a Homesteadlaw.
Land security for each Railway to be to double the cost of
17
8.—2.
represent double the cost of the Railway in each case. This will be no hardship to the Province. The proceeds will pass to the extinction of the Railway debt and to the payment of interest. Fifteen per cent, of the proceeds we are willing to pay to the Provincial Loan Account, or to an account for Provincial Public Works. It will be asked, Why do all this now ? Why not let well alone ? I answer, The well of the present will not be the well of the future, if we neglect to scan with vigilant eye the necessities of the position. I might compare the Public Works Policy to the setting in motion of a highly-powerful and carefully-constructed piece of machinery. As safe and wise would it be to set that machine in motion and allow it to work on untended, as it would be to refuse to recognise the necessity of carefully guiding and watching the vast machinery which, properly, worked, will prove as valuable as otherwise it may prove injurious. The question must be dealt with now, for demands are being made on every side, and Parliament must meet them. The question is one which belongs to no party —it would equally beset any Ministry. It is the question of wisely restraining the healthy exuberance which makes each village think itself of such Colonial importance that it should be connected by railway with the next hamlet. We have no Smith, Jones, or Robinson in the House, so I may use their names. They represent, let us suppose, neighbouring districts. A village in Smith's electorate is anxious to have a railway. Is Smith to tell the people they ask too much ? Is he to say he will vote for Railways elsewhere and neglect the place in which there reside fifty persons who voted for him ? Smith acquiesces—he will not perish politically. Brown and Jones have likewise become equally aware that their re-election depends on their exertions in local behalf. Jones, Smith, and Robinson combine to support three works. They meet three other members similarly circumstanced. Here is a combination of six, or of twelve votes, for the side they support —six for voting and six for not voting against. I ask the House to strengthen Smith, Jones, and Robinson; to let them tell their constituents that the law has confined to the Colonial Parliament the control of Colonial works, and that the local governing powers will provide for local wants. I have now to consider the question of future money requirements. Honorable Members will recollect that the original proposals upon which the Immigration and Public Works Policy was based were, that, over a term of ten years, there should be an expenditure of something like eight millions and a-half; and, besides, that land grants, for works performed, should be given to the amount of two millions. It was proposed that the eight millions and a-half should be made up partly by cash payments, partly by expenditure induced by guarantees, and partly by the proceeds of land set aside for the purpose, or by land being accepted by contractors in lieu of cash. It was thought necessary to ask for a loan of four millions only, that amount including the one million which the Imperial Government were to guarantee. Subsequently, it was found to be not desirable to secure expenditure upon works by giving guarantees upon such expenditure, nor to make payments in land ; and the intention of setting apart land as railway estates has, for reasons which need not now be dwelt upon, been only carried out to a very small extent. Dating the commencement of the Public Works Policy from the time I have already indicated —about June, 1871 —the expenditure during the first two years amounted to little over the sum estimated; but the authorized loan of four millions will, necessarily, be inadequate for carrying out plans involving a much larger expenditure; and already the estimated cost of the railways authorized to be constructed is very much in excess of the portion of the authorized loan which was set apart for railway purposes. As I explained last year, it was not necessary when obtaining an authority to expend a stated amount during a period of ten years, to make provision at once for borrowing all the money ; but it is necessary now, in view of the rapidity with which the railways are being constructed —and in view, also, of the fact that there are additional railways which the Government feel bound to ask the Legislature to authorize —that provision should be made for an amount of borrowed money in excess of the four millions already authorized. This is the more required, because the Government consider it 5
line, taking land at nominal value. Application of proceeds.
Why such action now necessary.
Amount of money required. How original proposals hare been departed from.
Eesult—£4,ooo,ooo Loan authorized, is inadequate.
8.—2
18
highly undesirable that use should be made of £800,000 of the guaranteed one million included originally in the Pour Million Loan. Debentures for £200,000 of the guaranteed sum have been sold, or, are about to be sold in England. The Imperial Guarantee Act Amendment Act, which has now been passed, renders easy the carrying out of the arrangement I made with the Treasury authorities when I was in England, but from which those authorities retreated, on the ground that the terms of the original Act imperatively forbade it: I mean, an arrangement for putting the guaranteed debentures aside virtually as a reserve fund, to be used when required. The Government propose that this course shall be taken with the balance of £800,000, the debentures, when guaranteed, to be lodged in the Bank of England, to be sold only when the necessity for selling them exists, with a power to the Loan Agents to borrow against them, from time to time, in anticipation of the sales of other debentures. The effect of this arrangement will be twofold: firstly, it will save the Colony from difficulties that may arise in the way of obtaining money during crises, such as have occurred and may again occur ; secondly, it will render it safe for the Government to sell a less amount of debentures in advance of actual requirements, and will therefore necessitate the payment of a less amount as interest than would otherwise be necessary. The guaranteed debentures will enable advances to be obtained, no matter what the condition of the money market; and, therefore, it will not be necessary to have command of amounts so largely in excess of actual requirements as must otherwise be held, despite the cost in the shape of interest. Indeed, the time and the mode of negotiating loans for the purposes of Immigration and Public Works must necessarily engage the most anxious attention of a Treasurer who desires to sec the operations conducted upon terms most favourable to the Colony. The Government propose, therefore, to include in the new Loan Bill a provision by which any portion of the amount to be raised may be applied to the purposes to which, under the existing Act, the £800,000 of guaranteed debentures are applicable ; and, in like manner, that the £800,000 may be devoted to any of the purposes provided for in the original Loan Bill, or to be provided for in the new one. In considering what further amount of money should be authorized by the new Loan Bill to be borrowed, I must ask the Committee to bear in mind what I have already stated—That the Government do not consider it consistent with the obligation to carry out those works which have to be constructed by the Colony, that the Colony should borrow money for the Provinces on account of local works, however desirable they may be. Therefore, the Government have proposed the plan already indicated, by which the Provinces may provide for their own requirements, on the same principle as, in England, the Metropolitan Board of Works, and similar boards and bodies, may do. But I have also directed the attention of the Committee to the fact, that the increased value of land is being evidenced by the disposition shown to make immense purchases ; and the Government might find themselves confronted by the difficulty that the landed estate over which security had been given by the Provinces had. been sold, without the money realized having been set apart to meet payments on account of railways. That difficulty must be met; and the Government have come to the conclusion already explained, that, whilst it may not be desirable to carry out the original intention as to railway reserves, in the manner at first proposed, it is their duty to see that, before the construction of any railway not at present authorized is commenced, security over land shall be provided. I have to state, therefore, as a point of policy upon which the Government entertain the strongest opinion, that, excepting coal railways, not another yard of railway, in any part of the Colony, should be authorized, without security, in the form of landed estate, being given to the Colony. I have before indicated this view, in what I have addressed to the Committee; and I have said that, in dealing with such land, the Government propose to apply to the several blocks the Land Laws of the Province within which the blocks are situated—except that the Governor may, with the advice of the Superintendent of a Province, agree to plans having for their object special settlement upon such land.
£800,000 of Guaranteed Debentures (part of £4,000,000 Loan) to be kept as a reserve.
Advantages of that arrangement.
Tho disposition to make great purchases of land,
makes absolutely necessary the taking of land as security for any railway not already authorized.
19
8.—2.
It would be idle to suppose that any general principle could be rigidly applied in a Colony in which so many different conditions exist as are to be found in the different parts of New Zealand. It is, therefore, necessary that I should state more particularly how Ministers propose to give effect to the principle of obtaining security, in the shape of railway reserves, for the cost of railways hereafter authorized to be constructed. With respect to the Provinces of the Middle Island, the Government propose to take blocks of land to the value I have indicated, the proceeds in each case to be solely applicable to the railway liabilities of the particular Province —the yearly revenue arising from occupation or use to be devoted to the payment of interest, and the revenue arising from sales to be applied to the redemption of the debentures. In the North Island, a precisely similar practice cannot be adopted, because so large a portion of the land is at present in the hands of Natives. The Government propose to meet this difficulty, by providing for the purchase of large blocks of land, as the Natives may prove prepared to sell them; and it is intended that two-thirds of all the land so purchased shall be set apart as security for railways, upon terms similar to those to be applied in the Middle Island. When it is borne in mind, that these reserves will pass to purposes exclusively Provincial, namely, the meeting of charges for railways within the Provinces respectively, I think that setting apart such lands will not be considered a hardship. On the contrary, what we propose will be, to those who hold landed property, an assurance that they may ask for the advantages which result from railways, without having to dread excessive taxation as a consequence. It should also be borne in mind, that we do not propose to deprive the Provinces of all interest in the railway reserves ; for, it will be provided that 15 per cent, of the proceeds shall be paid to the Provincial Loan Account, to be available in payment for Provincial works, such as Roads, Bridges, and Branch Railways; or, if there be no loan account, to a separate Provincial account for the same purposes. It now becomes a question, considering the large landed estate we are bent upon acquiring, how much additional money we should at present take power to borrow. The Government intend to ask the Legislature to authorize the construction of certain main railways—the works not to be proceeded with hastily, but (with some exceptions) to be extended over a considerable period. It is right that the Government should indicate what further railways they consider—in the present state of knowledge upon the subject—it is desirable should be authorized; and it must be remembered that the cost of the lines already sanctioned very considerably exceeds the amount as yet authorized to be borrowed for the purpose. But it is by no means necessary that we should now make full provision for lines the construction of which will be extended over long periods: if we provide for the wants of the next two or three years, we shall, I think, be doing all that is required. It is the custom in Australia to authorize from time to time the issue of loans; and also from time to time to authorize the construction of works out of such loans. Taking all things into consideration—the amount now available and the amounts which may be expected to arise from sales of land included in railway reserves—the money needed to pay for existing contracts, that necessary to meet liabilities under contracts which must be entered into, and the possible cost of the railways for which we intend to ask authority—the Government think that it will be sufficient to satisfy all requirements for a considerable time to come, if there is provision in the new Loan Bill for a sum not exceeding £1,500,000 for railway purposes. It is also intended that the Bill shall include provision for £500,000, on account of the purchase of Native lands. The Railways which it is intended to ask authority to construct, are—Prom the Mataura to the Clutha; from Dunedin to Moeraki; from the Waitaki to Timaru ; from Mercer to the frontier; and, whenever opportunity offers, from the frontier south, so as to join the main trunk line wherever surveys show that it is desirable the junction should be effected. I may at once say that the Government attach the greatest possible importance to the last-named railway, not only because of the immense district it will open up—a district in which there is every reason to believe the Government will, sooner or later, acquire very large tracts of land -—but because it will mass upon and near the frontier a population such as will
No rigid rule can be enforced-
Proposed mode of ProcedureMiddio island ProTin»e»-
North island ProTince»-
To provide moneo^aree years, win be Bufficient-
Proposed to ask £^500,0^0^0°"°* Railways; c il°se'ofNatiTe Ul'" LandsRailwars *? t>e
8.—2
20
afford the best possible guarantee against acts of wanton outrage like the one we have recently had to deplore. The survey for a line is at present made only as far as Ngaruawahia. The Government propose to extend that survey ; and they propose also, to take authority to construct the whole of the line, although it is not possible at present to state its cost. It is expected that the cost, including bridges, will not exceed £4,500 a mile. The Government will ask the House to sanction additional expenditure, to the extent of £100,000, upon the railway between New Plymouth and Wanganui— or, rather, since provision has been made for the line between New Plymouth and the Waitara, the additional provision will be for the line from the Waitara to Wanganui. As was stated last Session by the Minister for Public Works, the object of the Government will be to proceed with this railway concurrently with the progress of settlement. These proposals deal with the question of a trunk line through the North Island, as far as it is desirable to deal with it at present; and also with the trunk line through the Middle Island from North Kowai, in the Province of Canterbury, to the most southerly port of that Island, the Bluff. But they leave untouched the requirements of a considerable portion of the Middle Island. They leave unconnected Marlborough, Nelson, and Westland. Honorable Members are aware that, for coal-mining purposes, a line from the Brunner to Greymouth has already been sanctioned; and that a line from Nelson to Poxhill has been contracted for. During the recess, Ministers have had interviews and much correspondence with gentlemen desirous of seeing the railway extended from Poxhill to the Brunner. It was very pleasing to the Government to observe the spirit of enterprise displayed by the inhabitants of Nelson, in their desire to obtain this railway. At first, indeed, their idea was to construct it out of moneys to be locally subscribed; but subsequently we were asked to construct it on the same conditions as apply to other lines, except that there should be given the additional security of" 10,000 acres of land per mile of railway. Without delay, we caused an examination of the land to be made. The report of the officer appointed to make the examination will be printed, and copies will be supplied to honorable Members. The result of the examination has satisfied the Government that the land —in the absence of fuller knowledge as to its probable mineral wealth —does not afford adequate security for the cost of the railway. The land has a certain amount of value, because of the timber upon it; but the timber-bearing area available for use is limited. The true value of the land can only be ascertained by investigating its mineral resources. If, assuming the existence of these resources, the construction of a railway were now authorized, its course might, and probably would, ultimately prove not to be one favourable to the development of the mineral wealth of the district. The Government have therefore determined that, at present, they will not do more than ask the House to authorize a thorough examination of the land, including a preliminary survey for a line of railway. They recognize that, apart from the question whether there are mineral resources in the district, it will sooner or later become necessary, in order to the completion of a trunk line through the Middle Island, that Nelson and the West Coast should be connected by railway. But there would still remain a gap in the means of communication; and it is one concerning which most urgent representations have been made. The importance of connecting the east and west coasts of the Middle Island is fully admitted by the Government. Not only will such a connection be the means of opening up to mining enterprise a great deal of interior country; but it will open to the commercial centres on the east coast the means of supplying the west coast —a market which has hitherto been almost monopolized by the merchants of Melbourne. I have to announce, therefore, that the Government will propose that the survey opera lions shall not be confined to the contemplated line between Poxhill and the Brunner, but shall include such a survey as will ascertain the best course for a railway to connect the east and west coasts of the Island, and of bringing them into connection with the line to the northern portion of the
and Surveys to be made.
Additional Expenditure on authorized Railways.
Connection of Marlborough, Nelson, and Westland with Trunk Line.
Toxhill to th« Brunner: Nelson Proposals.
Government Proposals as to that Line.
21
8.—2
Province of Canterbury. It will also be determined whether the Marlborough railway can be brought into connection with the Trunk system. I have throughout these observations spoken of main lines and branch lines. I wish honorable Members to understand that, although I have not mentioned coal lines, the Government have not departed from the opinion, expressed long since, that coal railways ought not to be included in the category of local or branch lines. They are lines which, in the interests of the Colony as a whole, ought to be constructed; and, therefore, the Government do not modify the policy as to such railways which has already been approved by the Legislature. A vote will be asked in aid of the construction of the Mount Rochfort coal field line and harbour works, the sum already voted not being sufficient. An additional sum will also be required in order to complete the harbour works connected with the Brunner and Greymouth Railway. Let me epitomise what I have said upon the subject of public works. The proposal we intend to make is, that the Government shall in future confine their attention to works connected with main lines of railway and railways having especially for their object the opening up of coal fields. We shall ask for authority to fill up the three gaps not yet provided for in the main line between North Canterbury and the Bluff; and to make a survey with the view of deciding upon a main line which will bring Nelson and the West Coast into communication with Canterbury, and also, if it should be found expedient, into communication with Marlborough. A sum in addition to that already voted, will be asked for the line from Waitara to Wanganui, its construction to be proceeded with concurrently with the progress of settlement in the district. We shall seek authority to make a railway from Mercer to the frontier, and thence south to a junction with the trunk system of the North Island. It must not, however, be supposed that it is intended to hurry these works. Except as to the construction of the line south from Mercer, I may express the opinion of the Government that it is undesirable the works should be rapidly pushed forward. The works now in hand not only involve a large expenditure, but they also involve the employment of a very large number of men in proportion to the population available for general industrial pursuits in the Colony; and there is no object to be gained by unduly pressing on the works I have mentioned. It is to be remembered also, that, in addition to the works in which the General Government are engaged, it is certain that the Governments of different Provinces will be large employers of labour upon important, though subsidiary, public works. It is not necessary for me to refer now to Immigration, beyond saying that Ministers recognize, as they have always recognized, that a large increase of the permanent population of the Colony is an absolutely necessary accompaniment of the Public Works Policy. The anxiety of the Government to promote Immigration has never abated, and it will be observed that the proposals now made are consistent w Tith the carrying out of plans which they regard as of the utmost importance—plans which will enable immigrants to settle upon the lands of the Colony. It may be that whilst the Public Works offer such rewards to labour, many of the men who come amongst us will not care or will be unable to adopt at once the life of the small settler. But as such men save money out of the high wages they receive, and as the demand for labour in connection with Public Works becomes less, it is to be hoped, and to be believed, that very many of them will naturally turn their attention to settlement, and gladly devote their energies to the cultivation of the soil. It will be the object of the Government to promote this as much as possible; and I have already mentioned incidentally that they intend to submit a measure authorizing free grants of land to those immigrants who pay their own passages to the Colony. It will naturally be asked by honorable Members, Whether the Government propose to include in the sum to be borrowed under the new Loan Bill amounts for purposes other than Immigration and Public Works, —such, for example, as the repayment to the authorized Loan of the sums taken from it for grants to Road Boards, and for any contemplated similar aid; and for repayment to the authorized Loan of the amounts taken from it for payment of interest on the cost of works during their construction. The Government have fully considered these 6
Coal Railways should be constructed by Colony.
Votes in aid, to be asked for.
Recapitulation of Public Works Proposals.
Immigration.
Proposals made, directly favour settlement on the land. Employment on Public Works should aid very many so to settle.
Second Loan Bill.
8.—2
22
points, and have come to the conclusion that it is not desirable the new Public Works Loan should be burdened with amounts for purposes such as those mentioned; especially since it is probable that the money necessary for those purposes could easily be obtained locally. Nevertheless, the Government believe that it is desirable there should be restored to the account of the original Loan all amounts taken from it for purposes the sufficient authorization of which by " The Immigration and Public Works Loan Act, 1870," has been questioned. It has been asked, for instance, whether the terms of that Act are sufficiently wide to include the payment of interest on the cost of works during construction. I may say that in the management of ordinary railway companies the item referred to is regarded as one to be paid out of capital. The Government wish it to be clearly understood that they intend to include in future estimates of the cost of railways interest during construction. But with respect to the railways already authorized, and as to which such provision was not made, the Government will, in a separate Loan Bill, provide for an amount estimated to cover interest on their cost up to the date of their construction being completed, including the restoration to the Immigration and Public Works Account of the sums that have been taken thence for the payment of that interest up to the present time. The same Loan Bill will include provision for repayment of the £150,000 taken from the Immigration and Public Works Loan Account for grants to Road Boards; and an additional sum of £100,000 will be included for future grants, at the rate of £50,000 a year. The following sums will also be included in this Bill:—£50,000 for Telegraph Extensions; £35,000 for the construction of Lighthouses ; and £115,000 for Public Buildings. It is right I should state that the idea of borrowing money for public buildings is one that was suggested to the Government by a Memorandum of the Colonial Secretary in the Government which held office during a short period last Session. There cannot be a question that, throughout the Colony, the buildings for public purposes are lamentably deficient; and I take it to be equally beyond question that it has been decided, not only in this Colony but in every other, that it is perfectly legitimate to construct public buildings out of borrowed money. There are several large public buildings demanding immediate attention at the hands of the Government. Provision has to be made for meeting the cost of the Post Office and Custom House building destroyed by fire in Auckland; and also for the cost of the buildings required in Canterbury. Provision must be made for the erection of proper Government Offices in Wellington. The buildings which have been erected will only suffice for the two Houses of the Legislature ; and as a matter of economy —indeed, as one of necessity for properly carrying on the business of the country —I may state that the Government are convinced that new offices must be erected. If the proposal to establish a Silver and Copper Mint should be carried out, the building should be erected in Auckland, where the silver required will be most available. Respecting the Mint, the Government await advices from Home before finally determining to propose it to Parliament. In other parts of the Colony which I need not specify, public buildings arc urgently needed. The Government are determined, in any circumstances, not to allow the whole of the buildings to be erected during one year ; and I hope that honorable Members will be moderate in their requests. That portion of the Loan applicable to Public Bulidings should obviously be made repayable within a not very long term, and it is intended so to provide in the Bill. There will, then, be two Loan Bills this Session. One will include £1,500,000 for Railways and Immigration, and £500,000 on account of the purchase of Native Lands. The other will include provision for restoring to the Immigration and Public Works Loan Account the sums taken from it to pay interest upon the cost of works during construction, and the amount still required for that purpose, in all £300,000 ; for restoring to the same account the £150,000 taken from it for grants to Road Boards; for an additional sum of £100,000 to be given, during two years, as grants to those Boards ; for £50,000 to be applied in extending the Telegraph system; for £35,000, to be spent in much-needed Lighthouses; and for £115,000 for Public Buildings; in all, amounting to £750,000.
In future, interest on Railway works during construction, to be included in estimate of cost.
Second Loan Bill to provide for interest on authorized Railway works during construction ;
also, for £250,000 for Road Boards, including repayment of £150,000 already given out of authorised loan; £50,000 for Telegraph Extensions; £35,000 for Lighthouses ; and £115,000 for Public Buildings.
Buildings needed.
Auckland. Canterbury. Wellington.
Contemplated Silver and Copper Mint at Auckland.
Other Buildings.
Recapitulation of Loan Proposals.
23
8.—2.
EXPENDITURE FOE 1873-74. The total proposed expenditure for the current year amounts to £1,013,154 3s. 7d., of which £443,510 lGs. 9d. is for Colonial Permanent Charges, £186,930 for Provincial Permanent Charges, and £382,713 6s. lOd. for Ordinary Appropriations. Honorable Members will observe from the Estimates, that the Permanent Charges are so made up as to include the whole of the interest on the Immigration and Public Works Loan; but in calculating the amount the Consolidated Fund will have to provide, we may take into consideration the recoveries on account of the cost of works in construction, for which amount, as I have before explained, the Government propose to make provision. I estimate that £10,000 will be recovered from Provinces on account of works constructed ; and £75,000 from the Immigration and Public Works Loan Account for works in course of construction : there being thus £78,000 left to be paid out of the Consolidated Revenue. I may remark that this amount is £56,500 in excess of the payment made out of the same fund last year. The total expenditure then, exclusive of Provincial interest and of recoveries for interest on works constructed and in course of construction, will amount to £826,224 3s. 7d. The appropriations of last year, together with the absolute expenditure on Colonial Permanent Charges, amounted to £788,917 os. Id, showing an excess of estimated expenditure of £37,307 3s. 6d. for the current year. But the excess on Permanent Charges for the current year is £54,518 6s. 4d. so that the ordinary Estimates amount to £17,211 2s. lOd. less than the appropriations of last year. Of this amount £16,290 is represented by the Public Buildings included in last year's appropriations, but not included in the present year's Estimates. Honorable Members will observe that Public Domains and Buildings do not now stand as Class I. as was the case last year: in fact, the items and also the control of the expenditure have been transferred to the Public Works Department, but the expenditure, exclusive of the buildings authorized to be charged to Loan, will still be chargeable to the Consolidated Revenue. We propose that the cost of Public Buildings shall be charged upon an amount to be borrowed; and we have forborne submitting an estimate of what we consider will be required, until we know whether or not the House approves of the proposal. Public Departments now become Class I. of the Estimates; but the items Land Transfer Act and Deeds Registry, have been transferred from this Class to that of Law and Justice; so that there is apparently a large increase in the one, but a corresponding decrease in the other. Taking the two classes together, there is a small increase. Class 111., Postal, &c, Services, shows an increase which arises in the Telegraph Department ; there being a considerable decrease in the Postal Department. The increase in the working cost of the Telegraph Department is naturally to be expected, seeing how the increased receipts involve a larger amount of departmental work. Class IV., Customs, shows a small decrease in the total, because no charge for the construction of Lighthouses is now included in the estimate for the Marine Department; but the Customs Department proper shows a slight increase, arising principally from the system of classification, and the consequent annual claim of officers to small advances in their salaries. In Class V., Native, there is an increase, because a sum of £2,000 has been included for the working of the Native Councils—a Bill for the establishment of which is before the House. Under Class VI., Miscellaneous, there is a small decrease; and a noteworthy one will be found under Class VII., Militia and Volunteers. I think I shall be consulting the wish of honorable Members if I abstain from more detailed reference to the Estimates. I shall be able to give more extended explanations when the Estimates are under consideration. I now ask honorable Members to follow me in a statement of the total proposed Colonial Expenditure for the year. Eirst, there are the items for Permanent Charges and Ordinary Appropriations, already mentioned, and amounting together to £826,224 3s. 7d. I propose to continue the Capitation Allowance to Provinces, on the same basis as last year, namely, 15s. per head of populati n; and also to continue the special allowances to Auckland, Taranaki, Wellington, Hawke's Bay, and Westland. Taking the RegistrarGeneral's estimate of the population at the close of last year (279,423), the total
Proposed Expenditure, 1873-74, £1,013,154 3s. 7d., including—£443,slo 16s. 9d, Colonial Permanent Charges; £186,930, Provincial Permanent Charges; £382,713 6s. 10s., Ordinary Appropriations. Recoveries on account of Interest on Public Works during construction.
Comparison of Colonial Permanent Charges, 1872-73 and 1873-74.
Classes of Estimates.
Capitation Allowance to Provinces, £217,964 ss.
8.—2
24
amount payable will be £217,964 os., or an increase of over £9,000. The proportions will be found stated in Table I. Then comes the moiety of Stamp Duties to be paid into the Public Works Account, £42,500; the total of the Stamp Duties being estimated at £85,000. I have also to include £45,000 for Treasury Bills to be taken up during the year; and the total Colonial Expenditure during 1873-74, may be stated as follows:— £ s. d. Civil List ... ... ... ... ... ... 27,5C0 0 0 Permanent Charges ... ... ... ... ... 410,010 16 9 Class I.—Public Departments... ... ... ... 54,050 5 2 Class ll.—Law and Justice ... ... ... ... 57,103 2 0 Class lll—Postal, &c, Services... ... 141,813 10 0 Class IV. —Customs Departments ... ... ... 47,200 1111 Class V.—Native ... ... ... ... ... 26,532 5 0 Class Vl.—Miscellaneous, Special, and Temporary ... ... 28,280 15 3 Class Vll.—Militia and Volunteers ... ... ... 24,049 17 G Public Domains and Buildings ... ... ... ... 2,783 0 0 Eedemption Treasury Bills ... ... ... ... 45,000 0 0 One-half Stamp Duties ... ... ... ... ... 42,500 0 O Capitation Allowance ... ... ... ... ... 217,904 5 O £1,131,088 8 7 Before leaving the question of Expenditure, I may say that, in addition to the allowance to the Provinces already stated, the Government propose to make an allowance of £50,000 to Road Boards, as was done last year. THE TAEIFF. The Government have very seriously considered the nature of the existing Tariff; and I am about to propose changes, not with a view to increase the revenue, but to introduce a system which we believe will possess fewer disadvantages than the one now in operation. We propose, in short, to substitute ad valorem Duties for Duties based upon measurement. New Zealand stands almost alone amongst Colonies in its adoption of a measurement system. The only companions, I think, to which we can point, are St. Helena and Tasmania. The " sullen isle," as Byron terms it, gave to Tasmania and to New Zealand a Governor who lives, and will continue to live, in the respect and esteem of the people of both Colonies. Through him, the system of measurement duties was introduced here as well as in Tasmania. But other Colonies and countries prefer the system of ad valorem duties, notwithstanding the arguments against them which can undoubtedly be employed. A system of taxation against which no reasonable objection can be urged, is a thing that cannot even be hoped for. Taxation is in itself a very unpleasant thing, but, like many unpleasant things, has its uses. Measurement duties not only afford facilities for fraud ; but they involve the gross unfairness of subjecting coarse and inexpensive articles to heavier taxation than that to which fine and expensive articles are liable. The Government are favourable to the substitution of ad valorem for measurement duties, not alone because public opinion elsewhere supports such a substitution, but because they are themselves convinced that measurement duties operate very unfairly. Two other reasons influence us. First, we cannot fail to see that under that system there are great difficulties in the way of a thoroughly liberal system of drawbacks. Last Session, we provided for drawbacks which, despite the measurement duties, we attempted to make more liberal than those of Victoria. But Victoria is now making her drawback-allowances more liberal; and we cannot keep pace with her, unless, unimpeded by the difficulties of the measurement system, we can make a fresh start. Again, the Committee know that, after a long struggle, in which New Zealand has taken a leading part, the Imperial Government and Parliament have conceded to the Colonial Legislatures power to make provision for the reciprocal interchange of their respective products and manufactures. AVithout entering into details—indeed, to attempt to do so would be impolitic, seeing that negotiations as to reciprocity arrangements have not been commenced —I ask the Committee to agree with me, that an important point will be gained, if we start with a system of duties similar to that which exists on the Australian Continent.
Table I.
Moiety of Stamp Duties, £42,500. £45,000 for Treasury Bills to be taken up.
Total proposed expenditure for 1873-74, £1,131,688 8e. 7d. £50,000 to Eoad Boards.
Changes in Tariff, not proposed for increase of revenue. Ad valorem instead of Measurement Duties.
Change proposed, because — Measurement Duties operate unfairly ;
because the change will enable Drawback system to be made more liberal;
and because it will facilitate Reciprocity arrangements.
25
8.—2.
We shall propose, then, to substitute ad valorem for measurement duties. But, before specifying the rates of duty we intend to submit, I have to state that I shall, at the conclusion of my remarks, ask the Committee to support the Government so far as to authorize the collection of those duties temporarily, during the time necesssary for a full discussion of the whole question. Supposing that I abstained from giving to the Committee more information, I have given enough to cause much wild speculation, in the absence of a knowledge of the rates of duty the Government have decided to recommend. There is no good to be gained by refusing to authorize a temporary collection of the new duties ; and, in order that there may be no misconception as to the matter, the Government undertake— (1.) Not to regard the consent of the Committee, or of the House, to the temporary collection of ad valorem duties, as a decision in favour of such duties, or of any other proposal made in the Budget. (2.) If the Legislature refuse to sanction the substitution of ad valorem duties, or to sanction any particular rate of duty proposed, the Government will return any amounts paid by importers in excess of the amounts that would be payable under the decision of the Legislature. By this declaration, consent to the temporary collection of the new duties is reduced, I think, to a mere matter of courtesy; and it leaves me at liberty to say that I propose to conclude by moving the following Resolution : — That in lieu of the Duties of Customs now charged on the Articles undermentioned, the following Duties of Customs shall, on and after the thirtieth day of July, 1873, until otherwise ordered by Parliament, be charged thereon on Importation into New Zealand, or on being cleared from any Warehouse for home consumption, viz.:— Confectionery ... ... ... ... ... ... ..." Furniture and Cabinet Ware, Desks, Dressing Cases, Picture Frames, Framed Paintings, Engravings and Prints, Looking Glasses, Papier Mache Ware, Turnery, Buckets and S Tubs of wood, and Woodenwaro not otherwise enumerated ... ... ... § Matches and Vestas ... ... ... ... ... ... ... "« Musical Instruments ... ... ... ... ... ... ... ' Oilman's Stores, viz.: Arrowroot in bottles jars or tins, Baking Powder, Capers, Caraway Seeds, Catsup, Chutney, Curry Powder and Paste, Essence of Coffee, Fish potted and \- | preserved, Fish Paste, Fruits bottled or preserved in syrup, Flavouring Essences, ■g Gelatine, Groats prepared, Isinglass, Jams, Jellies, and Marmalade, Liquorice, g Macearoni, Maizena and Corn Flour, Meats potted and preserved, Mustard, Olives, t* Oysters preserved, Pepper Cayenne, Pickles, Raspberry yinegar, Rice ground, Sago &■ and Tapioca in bottles jars or tins, Sauces, Syrups; Oil (vegetable or other) in bottle, J2 Oil perfumed, Starch and Blue, Soap Powder, Washing Powder, Vegetables dried or preserved, Vermicelli ... ... ... ... ... ... J Apparel and Ready-made Clothing, and all articles made up wholly or in part from silk, cotton, linen, or wool, or of other or of mixed materials, Bonnets, Hats and Caps, Furs, Collars and Cuffs of paper or other material, Blankets, Woollen, Cotton, and Opossum or other Rugs, Cotton Counterpanes Boots, Shoes, Slippers and Goloshes, Boot and Shoe Vamps and Uppers, Cork Soles, Clogs and Pattens. Leather Leggings, Leather cut into shapes, and Leather Manufactures not otherwise enumerated Brushware not otherwise enumerated, and Brooms Carpets, Drugget, Mats, Matting and Floor Cloth ... ... ... ... ~ China ware, Porcelain, Parian ware, Earthenware, Glassware, Plate Glass, and Globes and «; Chimneys for Lamps ... ... ... ... ... ... -S Cotton Manufactures not otherwise enumerated, and all articles made of cotton mixed with s> any other material ... ... ... ... ... ... « Drapery not otherwise enumerated ... ... ... ... ... g Forfar Sheeting, Scrim Cloth, and Hessians ... ... ... ... ... ' _3 G-utta Percha Manufactures not being apparel ... ... ... ... S Haberdashery, Milinery, and Hosiery ... ... ... ... ... " Linen Manufactures not otherwise enumerated, and all articles made of linen mixed with any g, other material ... ... ... ... ... ... Portmanteaus, Trunks, Carpet Bags, and Leather or Leather-cloth Bags ... ... Saddlery and Harness, Whips and Walking-sticks Shirts, white, regatta, Crimean, navy serge, twilled, and fancy Silks and all Manufactures containing silk Trowsers, moleskin and cord Toys, Tobacco Pipes, and Fancy Goods Umbrellas and Parasols ... ... ... ... Woollen Manufactures not otherwise enumerated, and all articles made of wool mixed with any other material ... ... ... ... ... ... _, 7
It will be proposed to collect new Duties at once.
Conditions upon which assent of House asked.
Resolution to be> proposed.
Proposed New Scale of Duties.
8.—2
26
Bagging, Bags, Sacks and Woolpacks, empty ... ... ... ... ... " Baskets and Wickerwaro Carriages, Carts, Drays and Waggons, Carriage and Cart Wheels, Axle Arms and Boxes, Perambulators ... Drugs, Druggists' Sundries, and Apothecaries' Wares, Cream of Tartar, Tartaric Acid and g Bicarbonate of Soda, Perfumery, Scented and Fancy Soap, Hair Brushes and Combs ... £ Grindery, Lasts, and Shoemakers' Wooden Pegs ... ... ... ... ~ Hardware, Ironmongery, Cutlery, Plated Ware, Holloware, Nails, Tacks, Brass, Copper, Zinc, » and Lead Manufactures not otherwise enumerated ; Horse Shoes, Iron Safes, Sad Irons, "§ Buckets and Tubs of iron, Tinware, Japanned and Lacquered Metal Ware, Artificers' , g Tools not otherwise enumerated ; Weighing Machines, Lamps, Lanterns and Lamp ' _g Wick, Bellows, Blacking, Blacklead, Sheet and Pig Lead, Lead Piping, Sheet Zinc, g Chains (except of gold and silver) made of wire, or rods of half-an-inch in diameter and under Leather Cloth, Hair Seating, Curled Hair, Upholsterers' Webbing, Metal Springs, Blind o Cord and Tape ... ... ... ... ... ... *H Mantel Pieces Stationery, Account Books, Writing Paper, Writing Ink, Copying Presses, Paper Bags, Wrapping Paper, Paper Hangings, Unframed Paintings, Drawings, Pictures, Engravings and Prints ... ... ... ... ... ... J Biscuits, fancy ... ... ... ... ... ... the lb., 2d. Eope, Cordage, and Twine ... ... ... ... ... the cwt., sb. Allowing for the difference which it is certain will be made in the declared value of Imports, and for the gradual falling off of some importations, we think that the alteration we propose will not increase the Customs revenue. On some articles, there may be an increase, but only because uniformity is necessary. On the whole, we only estimate the Customs revenue with the proposed ad valorem duties in force, at what we might reasonably expect it would yield with the present duties. Under the new system, our Tariff will resemble that of Victoria, only that on. most of the heavy articles as to which we propose changes, we have determined on ad valorem duties much less than those charged in Victoria, whilst, in the few cases in which our proposals exceed those of Victoria, the amounts concerned are comparatively small, and we adopt such increases only to preserve uniformity. When the Committee consider the amount of Victoria's revenue from her Gold Fields and her Land, and remember that that Colony neither has nor has had a "Native difficulty" with which to struggle, I think our Tariff will very favourably compare with hers. In New Zealand there has not only been a "Native difficulty," but the Waste Lands of which the Colony has become possessed have had to be purchased. In Victoria, the whole landed estate passed at once to the Colony without cost or trouble; besides that the Gold Eields have been enormously productive. But I trust that the Committee will not understand me to admit that, weighted as New Zealand has been with the Native difficulty, she is unfavourably placed in the race. Eor I hold that, allowing for difference of population, the material evidences of prosperity are in favour of New Zealand—no matter by what principle of investigation the statist may seek to test the actual or the comparative position of the Colony. Mr. Anthony Trollope would perhaps characterize this as " blowing;" but the Colonists of New Zealand maybe content to believe that they are justified in speaking the truth, though it be in their own praise. WATS AND MEANS, 1873-74. Coming now to the question of Ways and Means, I will submit to the Committee an estimate of the revenue for 1873-74, and will compare it with the estimate for 1872-73, and the actual receipts at the Treasury during that year:—
Believed that Customs Bevenue will not be increased by new Duties.
Tariff will resemble that of Victoria. Any Blight excesses, result from desire for uniformity.
Comparison between Victoria and New Zealand.
Though weighted with Native difficulty, New Zealand not unfavourably placed.
Wayß and Means, 1873-74.
8.—2
Estimated Revenue, £1,180,500.
It will be observed that notwithstanding the changes in the Customs duties, we 'do not estimate the aggregate receipts at more than £48,000 in excess of the receipts of last year. Suppose we retain the present duties, we should estimate a like amount from the natural increase of the year. We anticipate a slight increase in the amount of the Stamp Duties ; and also in the receipts of the Post Office and Telegraph Departments. The estimated receipts from Judicial Eee.s and Fines, from Transfer of Land and Registry of Deeds, from the registration of Births, Deaths, and Marriages, and from fees on the Issue of Crown Grants, are set down at a little more than was collected during last year. The Miscellaneous receipts have been similarly estimated; and for Incidental we have put down considerably more than the amount of last year's estimate, though somewhat less than last year's receipts. I have included in the Incidental estimate the balance of interest receivable from the Trust Eund and from other sources. The total amount of Ways and Means, then, is £1,180,500; to which has to be added £3,835 Is. 2d., the balance at the commencement of the year, together amounting to £1,184,335 Is. 2d. Deducting the expenditure, which, as we have already estimated, will amount to £1,131,688 Bs. 7d., we have a surplus of £52,646 12s. 7d. left. We must recollect, however, there will be demands on this surplus for Supplementary Estimates, and for Unauthorized Expenditure during the current year. This, Mr. Seymour, is the fifth successive occasion on which I have had the honor to bring down the yearly Einancial Statement. The contrast between the Statement I have made to-night and some of the previous Statements is suggestively striking. It has previously been my duty to endeavour to stimulate the Colony to a sense of its own resources—to urge the Colonists, in spite of depressing influences, to continue the heroic work of colonization. With eagerness the invitation was responded to, and power given to the Government to bring out immigrants and to open up the country by means of railways. My duty -this evening has not been to incite to larger action, but to urge that the courage which conquers success in times of difficulty is fittingly followed by prudence in prosperity. As yet we have no unhealthy inflation. The money which is being made in the Colony is being reproductively invested. To the stranger who asks, "Are the Colonists showing faith in the Colony?" we may reply, without hesitation, "In every direction they are proving their reliance by industrial enterprises of all descriptions." It has long been known that coal exists in New Zealand, but now there is a determination to procure it in large quantities. The Iron, the Coal, the Elax, the Mineral Oil, the Timber in the Colony, are to be utilized. The products of the soil and the deep sea fisheries are not to be neglected. Commerce is not forgotten. Capital is readily forthcoming for Banking, and Insurance, and Steamship enterprises. To Commerce, indeed, belongs a great victory. The baleful shipping monopoly which overshadowed the
Customs Estimate, ff4R°Tenue,eiB72-73. would be equalled M !2Je?«ri« |" creaBe ' Measurement Dutie*. other Departments,
Total of estimated ald\XL Means ' £i,i84,335 is. 2d. 11 w"™' surplus at end of * year.£32.646125-W.
Conclusion,
On former occasions, Btimuiltercoionists.
Appeals eagerly resP°ndedto-
Now urge, that b yUprudence
Evidences of Slo™' 9'faith ia
27
DSFASD
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28
Colony, and with which the most powerful houses in England did not care to contend, has yielded to Colonial courage and determination. Everywhere property has risen in value, and yet is eagerly sought after. In the midst of so much that is flourishing, I have urged caution. I have asked that the Colony should confine its efforts to the charge of the great arterial means of communication, leaving to the Provincial Governments the control of the local works, the need of which they are best able to understand. I have recommended precautions which will keep the Colonial credit intact, and suggested the necessity of reserving land for the settlement of the people. The substitution of a more convenient, but not more oppressive tariff, completes the list of the principal features of the Budget. The Government confidently trust that a large majority of Members will join them in making a firm stand against an extravagant use of the credit of the Colony. We must not forget in the demand for new works the old ones to which we are pledged; nor must the lands on which the people are to settle pass into the hands of the speculator. New Zealand, the home of a large, contented, and prosperous population, is the end to which we hope to attain. With that object in view have the proposals of the Government been framed, and I commend them to the kindly and indulgent consideration of the Committee.
Principal features of Budget.
29
8.—2.
TABLES REFERRED TO IN THE FINANCIAL STATEMENT.
Table A. STATEMENT showing the Debentures and Treasury Bills in Circulation under the several Loans of the New Zealand Government, the Amount of Sinking Fund Accrued, the Balance of Indebtedness, the Amount of the Annual Charge and the Proportions in which the several Loans and the Interest and Sinking Fund payable thereon are chargeable against the Colonial and Provincial Governments.
NEW ZEALAND GOVERNMENT.
PROVINCIAL GOVERNMENTS.
Act authorizing the Loan. Amount of Debentures in Circulation on June 30, 1873. Sinking Fund Total Debt accrued to after deducting June 30, 1873. Sinking Fund. Annual Charge. Interest. Sinking Fund. Total. Ordinance of Legislative Council... "New Zealand Loan Act, 1856"... "New Zealand Loan Act, I860"... "New Zealand Loan Act, 1863"... "New Zealand Debentures Act, 1864," and "Amendment Act, 1865" ... " Taranaki Loan Ordinance, 18G3 " "Consolidated Loan Act, 1867" ... Ditto, Colonial Issue, 4 '\> cent. " Immigration and Public Works Loan Act, 1870" ... Ditto, Colonial Issue, 4 ty cent. Ditto, ditto, 4 "$- cent. "Defence and Other Purposes Loan Aet, 1870" Ditto, Colonial Issue, 4 cent. Ditto, short dated, 5£ "{> cent. Treasury Bills £ b. d. 311 0 0 156,000 0 0 93,100 0 0 1,519,400 0 0 £ s. d. £ s. d. 311 0 0 59,763 18 5 £6,236 1 7 29,714 1511 63,385 4 1 168,143 5 11,351,253 14 11 £ b. d. 6,240 0 0 5,586 0 0 76,284 0 0 £ B. d. 3,120 0 0 ] ,862 0 0 20,508 0 0 £ s. a 9,360 0 C 7,448 0 C 96,792 0 C 150 0 0 300 0 0 2,047,200 0 0 15,800 0 0 150 0 0 300 0 0 102,360 0 0 632 0 0 20,472" 0 0 122,832" 0 0 632 0 0 1,600,000 0 0 148,900 0 0 175,000 0 0 80,000 0 0 5,956 0 0 7,000 0 0 16,000 0 0 96,000 0 C 5,956 0 C 7,000 0 0 157,727 13 14,389,272 6 11 436,600 0 0: 75,000 0 0, 48,500 0 0 565,000 0 0' 21,830 0 0 3,000 0 0 2,667 10 0 33,800 0 7 4,366 0 0 26,196 0 0 3,000 0 0 2,667 10 0 33,800 0 7 .'.'. 565,000 0 0 Total 6,881,261 0 0; 415,352 12 6' 6,465,908 7 6 345,355 10 7 66,328 0 0 411,683 10
AUCKLAND : — " Auckland Loan Act, 1863 " " New Zealand Loan Act, 1856"... " Consolidated Loan Act, 1867 "... " Defence and Other Purposes Loan Act, 1870" 31,600 0 0 90,000 0 0 510,150 0 0 2,203 5 3 34,479 3 8 I 27,628 0 0 29,396 14 9 55,520 16 4 1,896 0 0 3,600 0 0 25,50710 0 632 0 0 1,800 0 0 5,101 10 0 2,528 0 5,400 0 30,609 0 532,522 0 0 50,000 0 0 2,500 0 0 500 0 0 3,000 0 Total, Auckland 681,750 0 0 64,310 8 11 617,439 11 1 33,503 10 0 8,033 10 0 41,537 0 Taeanaki :— " Consolidated Loan Act, 1867 "... Ditto, Colonial Issue, 5 cent. " Defence and Other Purposes Loan Act, 1S70" 25,000 0 0 2,000 0 0 [ 1,692 0 0 1,250 0 0 100 0 0 250 0 0 1,500 0 100 0 31,308 0 0 6,000 0 0 300 0 0 60 0 0 360 0 Total, Taranaki 33,000 0 0 1,692 0 0 31,308 0 0 1,650 0 0 310 0 0 1,960 0 Wellington :— " New Zealand Loan Act, 1856"... " Consolidated Loan Act, 1867" ... Ditto, Colonial Issue, 5 %> cent. " Defence and Other Purposes Loan Act, 1870" :< Wellington Loan Act, 1862 " ... " Wellington Loan Act, 1866 " " Wellington Debts Act, 1871" ... 27,000 0 0 133,403 0 0 72,000 0 0 10,343 15 2 ( 7,385 0 0 10,656 4 10 215,018 0 0 1,080 0 0 6,670 3 0 3,600 0 0 540 0 0 1,334 0 7 1,620 0 8,004 3 3,600 0 17,000 0 0 2,000 0 0 10,327 10 0 75,000 0 0 1,632 17 9 2,608 19 1 367 2 3 7,718 10 11 75,000 0 0 850 0 0 160 0 0 826 4 0 3,750 0 0 170 0 0 80 0 0 206 11 0 1,020 0 240 0 1,032 15 3,750 0 Total, Wellington 336,730 10 0 21,970 12 0 314,759 18 10,936 7 0 2,330 11 1\ 19,266 IS The amounts show: as Sinking Turn Is accrued, and ;he distribution if those Funds, is approximate. 8
8.—2
30
XclblG A.— continued.
STATEMENT showing Debentubes in Circulation, &c.— continued. Peovincial Goyeutsments— continued. Act authorizing the Loan. Amount of sinking Fund Total Debt Debentures m acoru cd to after deducting - taAflML *»»»."»■ Fund 8 Interest. Annual Charge. Sinking Fund. Total. Hawke's Bat : — "New Zealand Loan Act, 1856"... " Consolidated Loan Act, 1867 " ... " Wellington Loan Act, 1866" ... £ s. d. 27,000 0 0 83,147 0 01 3,172 10 0 £ s. d. 10,343 15 2 4,028 0 0 £ s. d. 16,656 4 10 79,119 0 0 3,172 10 0 £ s. d. 1,080 0 0 4,157 7 0' 253 16 0 £ s. d. 510 0 0 831 9 4! 63 9 0| £ s. d. 1,620 0 0 4,988 16 4 317 5 0 ... Total, Hawke's Bay 113,319 10 0 11,371 15 2 98,947 14 10 5,191 3 0 1,434 18 4 0,920 1 4 Nelson :— "New Zealand Loan Act, 1856"... "Consolidated Loan Act, 1867"... Ditto, Colonial Issue, 4 ')> cent. " Nelson Waterworks Loan Act, 1864" ... 30,601 0 0 27,821 7 7 5,200 0 0 13,529 8 6 1,762 0 0 23,071 11 0 2G,059 7 7 5,200 0 0 1,464 0 9 1,391 1 5 208 0 0 306 2 0 278 4 3 1,830 2 9 1,069 5 8 208 0 0 14,200 0 0 2,851 18 4 11,348 1 8 1,136 0 0 281 0 0 1,420 0 0 Total, Nelson ... 83,822 7 7 18,143 6 10 65,079 0 9 4,199 2 2 928 6 3 5,127 8 5 itARLPOROUGH : — "New Zealand Loan Act, 1856"... "Consolidated Loan Act, 1867"... 8,399 0 0 7,878 12 5 3,710 3 4 88 0 0 4,088 16 8 7,790 12 & 335 19 2 393 18 7| 83 19 9 78 15 9 419 18 11 472 14 4 Total, Slarlborougb. 10,277 12 5 3,798 3 4 12,479 9 1 729 17 9 102 15 G 892 13 3 CiUTEBBUBY : — " New Zealand Loan Act, 1856 "... "Consolidated Loan Act, 1867"... " Canterbury Loan Ordinance, 1856" ... " Canterbury Railway Loan Act, 1800" ... " Canterbury Loan Ordinance, 1802" ... 51,230 15 5 561,680 15 4 830 15 5 19,020 12 3; 30,490 0 0 830 15 5 31,604 3 2 531,184 15 4 2,019 4 7 28,081 0 9 66 9 3 1,021 12 4 5,610 16 2 33 4 8 3,073 16 11 33,700 16 11 99 13 11 53,792 6 2 53,792 6 2 3,227 10 9 1,075 16 11 4,303 7 8 15,784 12 4 6S3.319 4 8 15,781 12 4 917 1 6: 157 10 11 1,101 18 5 Total, Canterbury 50,f53 7 8 032,305 17 0 31,371 6 10 7,908 7 0 42,282 13 10 WeSTI.AND ;— "New Zealand Loan Act, 1856"... " Consolidated Loan Act, 1867" ... " Canterbury Loan Ordinance, 1856" ... " Canterbury 11 ail way Loan Act, 18G0" " Canterbury Loan Ordinance, 1862" ... 22,769 4 7 153,309 4 8 369 4 7 8,722 18 9 9,681 0 0 369 4 7 11,043 5 10 113,088 4 8 910 15 5 7,608 9 8 29 10 9 455 7 8 1,533 13 10 14 15 4 1,366 3 1 9,202 3 1 41 C 1 23,907 13 10 23,907 13 10 1,434 9 3 478 3 1 1,912 12 4, 7,015 7 8 7,015 7 8 420 18 6 70 3 1 491 1 7 Total, Westland 207,430 15 4 18,773 3 4 188,057 12 0 10,461 3 2 2,552 3 0 13,016 6 2 Otago :— "New Zealand Loan Act, 1856"... "Consolidated Loan Act, 18G7"... Ditto, Colonial Issue, 5 cent. " Defence and Other Purposes Loan Act, 1870" " Otago Loan Ordinance, 1801-62 " "Otago Loan Ordinance, 1862" ... "Otago Harbor Loan Ordinance, 18G2" ... " Otago Public Buildings Loan Ordinance, 1802" ... "North Olago District Public Works Loan Act, 1872 " 81,000 0 0 903,450 0 0 7,000 0 0 90,400 0 0 40,100 0 0 116,700 0 0 31,031 5 4 )■ 51,973 0 0 14,f94 8 8 13,158 11 9 49,968 11 8 948,877 0 0 25,105 11 4 103,541 8 3 3,210 0 0 40172 10 0 350 0 0 4,520 0 0 3,208 0 0 7,002 0 0 ],620 0 0 9,034 10 0 904 0 0 1,203 0 0 1,167 0 0 4,860 0 0 54,207 0 0 350 0 0 5,424 0 0 4,411 0 0 8,109 0 0 44,100 0 0 14,069 7 10 29,430 12 2 3,528 0 0 1,323 0 0 4,851 0 0 40,075 0 0 11,433 18 0 28,636 2 0 3,206 0 0 1,202 5 0 4,408 5 0 10,000 0 0 1,000 0 0 9,000 0 0 500 0 0 1,000 0 0 1,500 0 0 Total, Otago ... 1,332,825 0 0 138,265 11 7 1,191,559 8 5 70,726 10 0 17,453 15 0 88,180 5 0 TOTAXS,— General ... Provincial 0,881,201 0 0 3,488,475 0 0 415,352 12 0 332,278 8 10 6,465,908 7 6 3,156,196 11 2 345,355 10 7 178,074 19 11 66,328 0 0 41,114 6 8 411,083 10 1 219,189 6 7 10,309,7:26 0 717,031 1 4 9,622,101 18 8 523,430 10 6 107,442 6 8 630,872 17 2
Table B. STATEMENT showing the EXPENDITURE ESTIMATED; the RECOVERIES to CREDIT; the EXPENDITURE actually made during the Year, from the 1st JULY, 1872, to the 30th JUNE, 1873; the VOTES UNEXPENDED or EXCEEDED; and the AMOUNTS RESERVED.
Authorized. Expended Actual Expenditure. Amount Unexpended. in Excess. Amount Reserved. 'A — . Estimates. Credits. Total. LIABILITIES AND ENGAGEMENTS. Civil List :— ■ Division I. Pi vision II. Interest and Sinking Fund ... Under Acts of General Assembly £ S. (1. £ s. d. 134 8 11 £ s. d. 1M 8 11 £ b. d. 333 6 8 445 5 1 £ s. d. £ s. a. £ s. d. 12,180 0 0 6 10 G 12,180 0 0 G 16 6 126,726 0 0 7,331 1 6 Reserve Account: — Colonial Charges Provincial Charges 14,213 4 4 314 6 1 12,321 5 5 12,321 5 5 14,213 4 4 ! 314 6 1 131.835 13 3 8,912 11 9 314 6 1 5,300 12 7 ... 11,527 10 5 APPBOFBIATIONS : — Vote I.,— Liabilities and Engagements, 1871-72, — Government Domains and Buildings Public Buildings Governor's Establishment Legislative Departments Executive Departments... Printing Department Electoral Department ... Geological Department ... Lund Transfer Department Deeds Registry Department Maori Rebels ... Supreme Court District Courts Resident Magistrates' Courts Petty Sessions Courts ... Coroners Act ... Lunatics Act ... Justices of the Peace Act Juries Act Criminal Prosecutions ... Postal Services Postage due Xew South Wales ... Customs Services Native Services Miscellaneous Services ... ... 14,527 10 5 9,226 17 10 5,300 12 7 1 2 3 4 5 6 7 s 9 10 11 12 LS 14 16 16 17 18 19 21 23 24 25 250 0 0 2,000 0 0 50 0 0 160 0 0 600 0 0 40 0 O 1,300 0 0 00 0 0 70 0 0 130 0 0 710 3 8 40 0 0 160 0 0 450 0 0 25 0 0 260 0 0 60 0 0 120 0 0 60 0 0 200 0 0 1,000 0 0 5,101 14 6 25 0 0 1,400 0 0 3,000 0 0 12 14 G 0 14 2 "i i o 57 6 0 250 0 0 2,000 0 0 62 1-1 f. 160 0 0 COO 11 2 40 0 0 1,301 1 0 90 0 0 70 0 0 130 0 0 710 3 8 40 0 0 160 0 0 507 8 0 25 0 0 260 0 0 60 0 0 120 0 0 70 10 0 223 0 0 1,032 18 7 5,104, 14, 6 25 0 0 1,474. 5 0 3,000 0 0 202 18 6 2,000 0 0 47 12 3 313 0 11 608 17 5 80 15 2 1,280 15 2 116 2 9 164 1 0 710 3 8 75 2 9 158 0 3 615 13 9 28 1 4 277 1 (i 74 11 0 222 2 3 14 2 0 332 15 1 1,185 11 4 1,993 15 8 CO I- 1 10 10 0 23 0 0 32 18 7 74 5 0 3GG 17 11 2,238 6 11 4,410 18 10 17,304 18 2 212 9 3 17,_517_7_5 15,523 11 9 1,933 15 8 JO Payments to Provinces 780 8 4 Deficiency Bills ... 100, 000 0 0 • ... ... ... ! 1 Total Liabilities 31,832 8 7 12,533 14 8 44,366 3 3 260,366 11 2 7,294 8 3 ...
8.—2.
32
J-clblG -D — continued. STATEMENT showing tho Expenditure Estimated, &c. — continued.
Authorized. Expended indg Actual Expenditure. Amount Unexpended. Amount Reserved. Excess. Estimates. Ckedits. Total. FINANCIAL YEAR, 1871-72. £ s. d. £ s. d. £ s. d. £ 8. d. £ s. d. £ s. d. £ 8. d. Civil List. 4,500 0 0 7,700 0 0 8,300 0 0 4,500 0 0 7,700 0 0 8,348 7 9 4,487 18 0 7,575 0 0 6,552 16 0 12 2 0 125 0 0 1,795 11 9 Division I. :— Governor Judges ... Establishment of General Government Division II. :— Native Purposes ... 48 7 0 ' * * ... 7,000 0 0 7,000 0 0 6,408 1 2 591 18 10 Total, Civil List 27,548 7 9 25,023 15 2 ; 2,521 12 7 27,500 0 0 48 7 9 I Permanent Chabges. Interest and Sinking Fund :— Colonial Charges... Provincial Charges Under Aets of General Assembly :— Colonial Charges... Provincial Charges 323,059 2 5 187,982 0 0 101,069 7 9 424,128 10 2 187,982 0 0 173,983 5 6 185,739 1 G | 252, 750 18 3 362 15 1 33,258 6 8 13 8 11 33,271 15 7 33,156 12 1 37 5 2 115 3 6 37 5 2 ! Total, Permanent Charges 54-4,209 9 1 101,082 16 8 645,382 5 9 302,916 4 3 252,866 1 9 [ 400 0 3 3 4 5 Appkopiu mom. Class I.—Public Domains and Buildings: — Government Domains Public Buildings... Museum Colonial Architect 600 0 0 14,740 0 0 500 0 0 450 0 0 17 15 0 617 15 0 1,088 4 3 14,740 0 0 j 13,311 13 1 500 0 0 500 0 0 450 0 0 450 0 0 16,307 15 0 15,349 17 4 1,428 6 11 470 9 3 1,428 6 11 Total, Class I.... 16,290 0 0 17 15 0 1,428 6 11 470 9 3 1,428 6 11 6 7 8 9 10 11 13 IS 16 Class II. —Public Departments :— Governor's Establishment... Legislative Depatments Executive Departrments ... Stamp Department Printing Department Store Department Geological and Meteorological Department ... Electoral Department General Crown Lands Department ... Land Transfer Department Deeds Registry Department 1,600 0 0 18,084 10 0 15,187 11 4 3,085 12 7 5,553 16 0 505 0 0 2,900 0 0 2,745 0 0 1,837 7 6 9,329 15 0 9,186 10 0 "i o o 934 14 5 0 5 0 1,600 0 0 18,084 10 0 15,194 11 4 3,085 12 7 6,488 10 5 505 5 0 2,900 0 0 2,786 17 0 1,850 14 2 9,369 0 4 9,222 10 10 1,747 1 G 20,420 10 10 15,556 1 1 2.713 7 1 7,069 5 5 499 18 1 2.714 19 1 3,237 4 2 1,740 1 5 8,391 16 9 8,661 8 8 372 5 6 5 6 11 185 0 11 147 1 0 2,336 0 10 361 9 9 580 15 0 100 0 0 5 6 11 185 0 11 41 17 0 13 6 8 39 5 4 36 0 10 110 12 9 977 3 7 561 2 2 450 7 2 180 0 0 180 0 0 ... Total, Class II. 3,875 14 3 650 7 10 70,015 2 5 1,072 9 3 71,087 11 8 72,751 14 2,211 11 10
33
8.-_
Authorized. O M Actual Expenditure. Amount Unexpended. Expended in Excess. Amount Reserved. Estimates. Credits. Total. £ s. a. £ a. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. 17 18 19 20 21 28 24 25 26 ■27 2S Cr.Ass III. —Law and Justice: — Attorney-General's Office (Assistant Law Officer) Colonial Secretary's Office (Judicial Branch)... Supreme Court ... District Courts ... Resident Magistrates' Courts Petty Sessions Courts Criminal Prosecutions Justices of the Peace Act... Coroners Lunatics Jurors ... Attorney-General 600 0 0 1,007 10 0 7,4«3 0 0 3,770 0 0 18,530 6 0 400 0 0 6,500 0 0 200 0 0 1,500 0 0 500 0 0 800 0 0 200 0 0 1 2 11 35 8 4 600 0 0 1,007 10 0 7,407 2 11 3,770 0 0 18,571 14 4 400 0 0 6,500 0 0 205 1 0 1,500 0 0 500 0 0 800 0 0 200 0 0 600 0 0 1,007 10 0 7,700 1 4 4,096 9 0 18,546 19 1 361 17 2 6,114 6 4 935 13 2 1,031 16 0 413 18 0 886 3 0 200 0 0 ... 24 15 3 38 2 10 385 13 8 292 18 5 326 9 0 24 15 3 10 0 0 100 0 0 "5 1 0 730 12 2 131 16 0 86 2 0 50 0 0 86 3 0 Total, Class III. 41,461 8 3 42,494 13 1 I 53t 13 9 1,567 18 7 184 15 3 41,419 16 0 41 12 3 20 ■;,\ 32 34 35 38 40 48 Class IV. —Postal, 4c., Services :— Postal Department Conveyance of Mails hy Sea San Francisco Mail Service Auckland Taranaki Wellington Hawke's liny Kelson ... Marlborough Canterbury Westland Otago ... Conveyance of Inland Mails Contingencies for all Post Offices Telegraph Department 2,920 0 0 8,500 0 0 40,750 0 0 5,080 0 0 380 0 0 1,945 0 0 635 0 0 1,900 0 0 620 0 0 4,241 0 0 1,760 0 0 6,219 0 0 24,400 0 0 3,500 0 0 36,717 0 0 139,567 0 0 ... ... 3,076 18 5 70 15 11 8 6 8 "5 8 4 2,020 0 0 8,500 0 0 43,826 18 5 5,150 15 11 380 0 0 1,953 6 8 635 0 0 1,905 8 4 620 0 0 4,263 18 4 1,700 0 0 6,230 13 4 24,400 0 0 3,509 6 5 30,807 6 10 2,923 1 6 6,006 13 5 32,310 2 11 4,660 8 3 413 6 8 1,814 1 9 626 1 8 1,774 6 1 593 16 3 4,100 16 2 1,677 3 7 6,033 19 4 21,897 17 6 4,048 13 8 37,297 19 5 2,493 6 7 11,516 15 6 490 7 8 139 4 11 8 18 4 131 2 3 26 3 9 163 2 2 82 16 5 196 14 0 2,502 2 6 3 16 33 6 S 830 0 0 500 0 0 22 18 4 j ii 13 4 539 7 3 490 12 7 780 0 0 9 6 5 90 6 10 Total, Class IV. 3,295 14 3 I 142,862 14 3 126,178 8 2 17,750 14 1 1,066 8 0 2,170 0 0 1; 45 Class V.—Customs :— Customs and Distilleries ... Marine... 37,808 15 10 12,307 10 0 102 2 3 156 10 11 37,910 18 1 12,464 0 11 36,143 4 5 6,541 15 3 1,767 13 8 5,922 5 8 500 0 0 4,200 0 0 Total, Class V. 50,116 5 10 25S 13 2 I 50,374 19 0 ! 4,700 0 0 42,684 19 8 7,689 19
Table Jd— continued. STATEMENT showing the Expenditure Estimated, &c. — continued.
8.—2
34
Authorized. En Actual Expenditure. Amount Unexpended. Expended IN Excess. Amount reserved. Estimates. Credits. Total. 46 47 48 49 Class VI. —Native : — Salaries of European and Native Officers General Contingencies Native Lands C.mrt "Native Lands Fraud Prevention Act, 1870" £ s. a. 13,862 5 0 8,500 0 0 1,100 0 0 400 0 0 £ s. d. 1 12 0 1,412 3 2 £ I. d. 13,868 17 0 9,912 3 2 1,100 0 0 400 0 0 £ s. d. 11,575 14 10 13,819 2 3 1,100 0 0 316 0 1 £ s. d. 2,288 2 2 £ s. d. 3,93G 19 1 £ 8. d. 2,288 2 2 83 13 11 83 13 11 Total, Class VI. 26,811 3 2 2,371 16 1 3.936 19 1 2,371 16 1 23,862 5 0 1,413 15 2 25,276 0 2 60 51 Class VII. —Miscellaneous, Special, and Temporary Objects :— Miscellaneous and Temporary Objects Bank Commission 28,759 12 11 2,000 0 0 514 13 10 IS 8 0 29,274 6 9 2,013 8 0 38,304. 9 9 1,628 6 7 9,030 3 0 385 1 5 385 1 5 Total, Class VII. 39,932 Hi 4 385 1 5 | 9,030 8 0 S85 1 5 30,759 12 11 528 1 10 31.287 14 9 ;:; 54 55 56 Class VIII. —Militia and Volunteers :— Militia and Volunteers (Inspector's Department) ... Store Department Militia and Volunteers, North Island Militia and Volunteers, South Island 1,180 0 0 3,313 2 6 15,05fi 5 0 7,445 0 0 4 3 4 25 0 0 1,180 0 0 3,317 5 10 15,981 5 0 7,445 0 0 668 11 8 8,066 3 7 12,100 11 8 4,857 18 4 511 8 4 251 2 3 3,880 13 4 2,587 1 8 511 8 4 251 2 3 3,880 13 4 2,587 1 8 7,230 5 7 Total, Class VIII. 27,894 7 6 i 20,693 5 3 f 29 3 4 27,923 10 10 7,230 5 7 Supplementary Expenditure or 1871-72: — Provincial Charges 76 10 0 76 10 0 76 10 0 Refunds of Eevenuk 4,018 18 0 4,018 18 0 Unauthorized Expenditure (Table D.) 2,315 4 0 2,315 4 0 9,887 0 6 7,571 16 6 Payments to Provinces 22,394 9 9 9,396 C 8 31,790 16 5 30,261 10 5 1,529 6 0 Moiety op Stamp Duties transferred to Immigration and Public Works Loan 40,000 0 0 40,000 0 0 39,739 15 1 260 4 11 Treasury Bills Redeemed... 45,000 0 0 45,000 0 0 45,000 0 0
Table B— continued. iTATEJTEirr showing the Expenditure Estimated, &c. — continued.
35
8.—2
Table B— continued. STATEMENT showing the Expendituee Estimated, &c. — continued.
Authorized. Expended in Excess. Amount Reseeved. Actual Amount Unexpended. Estimates. Ckedits. Total. EXPENDITURE. ! SUMMARY. £ s. d. £ s. d. £ s. d. £ .s. d. £ s. d. £ s. d. £ s. d. Financial Yeah 1872-73 — Civil List Permanent Charges ... Appropriations — Class I.—Public Domains nnd Buildings „ II. —Public Departments „ III. —Law and Justice ,, IV. —Postal Werviccs, &c. ,, V. —Customs Department „ VI. —Native Department i „ VII. —Miscellaneous ... ,, VIII. —Militia and Volunteers ... Supplementary Expenditure of 1871-72... Refunds of Revenue ... Unauthorized Expenditure (Table D.) ... Payments to Provinces Moiety of Stamp Duties transferred to Immigration and Public Works Loan Account Treasury Bills redeemed 27,500 0 0 544,299 9 1 10,290 0 0 70,015 2 5 41,419 16 0 139,567 0 0 50,110 5 10 23,8fi2 5 0 80,759 12 11 27,891 7 6 76 10 0 48 7 9 101,082 16 8 17 15 0 1.072 9 3 41 12 3 3,295 14 3 258 ]3 2 1,413 15 2 528 1 10 29 3 i 27,548 7 9 645, 382 5 9 10,307 15 0 71,087 11 8 41,461 8 3 142,862 14 3 50,374 19 0 25,276 0 2 31,287 14 9 27,923 10 10 76 10 0 25,023 15 2 392,916 4 3 15,349 17 4 72,751 14 1 42,494 13 1 126,178 8 2 42,684 19 8 26,841 3 2 39,932 16 4, 20,693 5 3 76 10 0 4,018 18 0 9,887 0 6 30,261 10 5 2,524, 12 7 252,806 1 9 1,428 G 11 2,211 11 10 534 13 9 17,750 14 1 7,689 19 4 2,371 16 1 385 1 5 7,230 5 7 400 0 3 470 9 3 3,875 14 3 1,567 18 7 1,066 8 0 3,936 19 1 9,030 3 0 ... 1,428 6 11 650 7 10 184 15 3 2,170 0 0 4,700 0 0 2,371 16 1 385 1 5 7,230 5 7 2,315 4 0 9,396 6 8 2,316 4 0 31,790 16 5 4,018 18 0 7,571 10 6 22,394 9 9 1,529 G 0 40,000 0 0 45,000 0 0 40,000 0 0 45,000 0 0 39,739 15 1 45,000 0 0 260 4 11 ... Totals 1,079,194 18 6 119,499 19 4 1,198,694 17 10 933,850 10 6 296,782 14 3 31,938 6 11 19,120 13 1
8.—2
36
Table BALANCE SHEET of RECEIPTS a md DISBURS: MENTS of tin 'it. RECEIPTS. £ s. d. £ s. d. £ 8. d. Consolidated Fun] :— Ox account op Previous Yeaes, — Assets Realized, — Recoveries, — From Westland, on account of Debit Balance, 30 June, 1871 From Provinces, on account of Debit Balances, 30 June, 1872 From Taranaki, Provincial Charges From Auckland, Land Fund Charges From Hawke's Bay, Land Fund Charges... From Imperial Government From New Zealand Settlements Act Account From Defence Loan ... From Immigration and Public Works Loan 507 13 3 32,G10 16 3 70 10 0 31 10 0 50 0 0 501 14 3 4,277 7 0 8,358 11 4 21 0 0 40,435 2 1 Receipts in Reduction of Expenditure,— Transfer from Immigration and Public Works Loan for Interest and Sinking Fund, to 15 April, 1872 Ciril List ... ... ... £131 8 11 Charges of the Public Debt ... 930 0 0 Charges under Permanent Acts ... 6 16 6 Appropriations,.. ... ... 212 9 3 11,250 0 0 1,283 14 8 Total on account of Previous Years ... 12,533 14 8 58,908 10 9 Financial Ybae 1872-73,— Ordinary Revenue, — Customs Stamps Postal Telegraphic Judicial Fees and Fines ... Registration and other Fees Incidental 866,817 15 3 79,417 17 3 50,586 6 4 41,450 5 7 23,568 0 9 30,150 5 9 22,411 18 2 Receipts in Reduction of Expenditure,— Transfer from Immigration and Public Works Loan for Interest and Sinking Fund, to 15 July, 1873 ... Civil List ... ... ... £43 7 9 Charges of the Public Debt ... 2,509 7 9 Charges under Permanent Acts ... 13 8 11 Appropriations... ... ... 6,657 4 3 Services unprovided for ... ... 2,315 4 0 1,119,402 9 1 98,500 0 0 11,603 12 8 9,396 6 8 Payments to Provinces ... Total Financial Year 1872-73 119,499 19 4 1,238,902 8 5 Total Receipts ... Balance on 30 June 1872, — Cash in the Public Account Imprests unaccounted for ... 1,297,871 5 2 92,890 1 9 91,949 3 11 184,845 5 8 Total Consolidated Fund ... 1,482,716 10 10
37
8.—2.
B (i). 'UBLIC ACCOUNT for the Fijtaxcial Tear 1872-' '8. Cn DISBURSEMENTS. £ s. d. £ s. d. £ e. d. Consolidated Fund :— LlAUILITIKS OP 1871-72, — Colonial Charges, —■ Civil List. Charges of the Public Debt Charges under Permanent Acts Reserve Account ... Appropriations... ... ... Deficiency Bills redeemed 778 11 9 120,726 0 0 7,331 1 6 8,912 11 9 15,523 11 9 100,000 0 0 Provincial Charges,— Reserve Account Payments to Provinces ... 259,271 1G 9 311 6 1 7S0 8 4 1,094 14 5 Total on account of Liabilities 260,366 11 2 Financial Year 1872-73,— Colonial Charges, — Civil List ... ... ... ... ... Charges of the Public Debt, Charges under Permanent Acts Appropriations,—■ Class I.—Public Domains, &c. £15,319 17 4 II.—Public, Departments 72,75114 1 III. —Law and Justice ... 42,494 13 1 IV.—Postal ... ... 120,178 8 2 V.—Customs ... ... 42,684 19 8 VI.—Native ... ... 26,841 3 2 VII.—Miscellaneous ... 39,932 16 4 VIII.—Militia and Volunteers 20,693 5 3 25,023 15 2 173,983 5 G 33,15G 12 1 £380 926 17 1 Les3 unauthorized ... ... 19,947 12 2 Refunds of Revenue ... .... Unauthorized, — In excess of Votes ... ... £19,947 12 2 Not provided for ... ... 9,887 0 6 300,979 4 11 4,018 18 0 29,831 12 8 632.99G 8 4 Provincial Charges,—Charges of the Public Debt, Charges under Permanent Acts Appropriations Payments to Provinces 185,739 1 G 37 5 2 70 10 0 30,201 10 5 216,114 7 1 45,000 0 0 Treasury Bills redeemed Moiety of Stamp Duties transferred to Immigration and Public Works Loan Account 39,739 15 1 Total Financial Year 1872-73 933,850 10 G Total Disbursements 1,101,217 1 8 Balance on 30 June, 1873,— Cash in the Public Account, — New Zealand London 27,8(51 19 11 23;t,47C 5 1 261,338 5 0 Imprests unaccounted for, — Colonial Foreign 12,285 13 9 11,875 10 5 27,161 4 2 288,499 9 2 Total Consolidated Fund ... £ 1,482,716 10 10 9
8.-2
38
Table De. BALANCE SHEET of iECEIPTS md DISBURS 1MENTS of tin EECEIPTS. £ s. d. £ s. d. I £ s. a. Special Funds s— "New Zealand Settlements Acts, 1863-60," — Land Sales Bents and Licenses 19,962 9 9 368 10 0 20,330 19 9 625 0 0 Recoveries 20,955 19 9 i Temporary Advances from Immigration and Public Works Loan ... 16,050 16 11 Total Receipts ... 37.60G 1G 8 I £37,GOG 16 8 "CONSOLIDATED LOAN Ad, 1867,"— Sale9 of Debentures, — Sales at 102 ... „ 96 81,000 0 0 21,000 0 0 Premium on Debentures sold for— Wellington, £72,000 Taranaki, £2,000 Otago, £7,000 1,440 0 0 40 0 0 140 0 0 102,000 0 0 1,020 0 0 £81,000 103,G20 0 0 Total Eeeeipts ... Balance on 30 June, 1872,— Cash in the Public Account Advances unaccounted for ... 103,620 0 0 G.142 3 10 2,101 3 0 8,243 6 10 £111,8G3 G 10
39
8.—2.
t> (1) — continued. 'UBLIC ACCOUNT for the Financial Year 1872-73— continued. Cb. DISBURSEMENTS. £ 8. d. £ s. d. £ s. d. Special Funds :— "New Zealand Settlements Acts, 1863-60,"— Management and Survey of Confiscated Lands, — Auckland, — Salaries ... ... ... ... Preparing Crown Grants Surveys Contingencies 1,054 16 4 285 15 9 1,531 2 10 465 16 9 Taranaki and Wellington,— Salaries Surveys Contingencies ... ■ 3,337 11 8 1,838 7 10 1,192 17 4 2,135 7 3 5,166 12 5 390 0 0 Compensation Awards ... Proportion of Subsidy for Overland Mail, Wellington to Taranaki Proportion of Subsidy for Overland Mail, Napier to Taupo 1,875 0 0 1,250 0 0 Deduct Expenditure in excess of Appropriation ... 11,519 4 1 3,616 4 1 8,003 0 0 Unauthorized, — Expenditure in excess of Appropriation ... Unprovided for, — Compensation Awards, &c. ... ... ... 3,516 4 1 3,266 19 2 6,783 3 3 Advances from other Funds repaid,— Consolidated Fund ... ... ... ... Immigration and Public Works Loan, — In part repayment of £16,650 16s. lid.... 4,277 7 0 14,786 3 3 12,831 10 7 27,637 13 10 8,574 3 7 Total Disbursements Balance on 30 June, 1872 ... Balance on 30 June, 1873,— Advances unaccounted for 9,373 9 11 595 12 11 £37,606 16 8 "Consolidated Loan Act, 1867," — Redemption of Scrip Certificates, Taranaki Redemption of Debentures issued under — " The Consolidated Loan Application Act, 18C9," — Wellington ... ... £72,000 0 0 Otago ... ... ... 7,000 0 0 " Tho Nelson Lunatic Asylum Act, 1862,"— Kelson "The Tarannki Loan Ordinance, 1863,"— Colonial ... 2,000 0 0 79,000 0 0 5,000 0 0 13,600 0 0 97,600 0 0 Discount and Charges,— Colonial, — Discount on £15,800 sold at 96 Nelson, — Discount on £5,200 sold at 96 ... Wellington, — • Stamp Duty at 2s. per cent, on £64,000 £6 4 0 0 Exchange on Remittances ... 6 8 0 632 0 0 208 0 0 £70 8 0 Less, chargeable to Otago ... 6 4 9 £70 8 0 6 4 9 64 3 3 6 4 9 Otago Payments to Province of Wellington,—■ Premium as per contra Less, Charges ... 1,440 0 0 64 3 3 910 8 0 1,375 16 9 Total Disbursements 101,886 4 9 Balance on 30 June, 1873,— Cash in the Public Account Advances unaccounted for ... 7,175 19 1 2,801 3 0 9,977 2 1 £111,863 6 10
8.—2.
40
Table BALANCE SHEET of RECEIPTS and DISBURS: 1MENTS of th'R. RECEIPTS. Special Funds — continued. Defbkck Loax of 1870,— Sales of Debentures,- — 5 per cent. Debentures sold in England 5\ „ „ „ the Cjlouy ... 4 ,, ,, ,, „ £ 8. d. £ s. d. £ s. d. 150,000 0 0 12,900 0 0 75,000 0 0 237,900 0 0 787 8 4 Premium on sales of Debentures Recoveries, —■ Armed Constabulary, — Auckland contribution ... 6,626 16 4 On account of pay, clothing, rations, &c. 10,345 10 9 Miscellaneous ... Steamer " Luna " Contingent Defence 10,972 7 1 1,249 5 7 24 0 0 4,497 4 7 22,712 17 3 261,430 5 7 Temporary Advance, Bank of New Zealand ... 70,000 0 0 Total Receipts 331,430 5 7 Balance on 30 June, 1872,— Cash in tho Public Account Advances unaccounted for ... 72,027 7 5 5,83G 10 9 77,864 7 2 £409.294 12 9 " Immigbation akd Public "Works Loan Act, 1870," —■ Sales of Debentures, — Five Per Cents, sold iu England ... Four Per Cents, sold in Australia and New Zealand ... :850,000 0 0 323,900 0 0 From Bank of New Zealand, in anticipation of further sales in England Premium on Debentures sold in England Moiety of Stamp Duties transferred from Consolidated Fund ... Interest on Bank Deposits, London, &c. 1,173,900 0 0 100,000 0 0 4,462 0 8 39,739 15 1 10,258 7 7 Recoveries, — Proportion of cost of new South Wing, Government Buildings Departmental Expenses ... Konds in North Island ... Railways,— North Island Middle Island Goneral Railway Account 1,334,360 3 4 2,000 0 0 265 5 8 311 12 3 10G 1 G 12,532 0 4 138 0 2 12,770 2 0 1M 0 0 66 0 0 13,745 G 7 371 14 8 901 13 1 747 4 2 114 15 0 Roads, Westland Laud Purchases, North Island Immigration Telegraph Extension Grcymouth Protective Works ... Water Supply on Gold Fields Prospecting for Coal Temporary Advances to New Zealand Settlements Act Account Repaid Temporary Advances, —■ Bank of New Zealand 31,433 13 5 8,574 3 7 225,000 0 0 Total Receipts 1,599,368 0 4 Balance on 30 June, 1872, — Cash iu the Public Account Advances unaccounted for ... •in.GGO 7 0 35,017 11 4 75,684 1 4 1,675,052 1 8
41
B.—2.
FSDG
8.—2
42
FDGDF
43
8.—2
B (!•) — continued. PUBLIC ACCOUNT for the Financial Yeah, 1872-' '3— continued. Cb. DISBURSEMENTS. Special Funds— continued. " Wellington Debts Act, 1871:" — Payment to Province of Wellington ... £ s. d. £ b. d. £ a. d. 5,000 0 0 Balance on 80 June, 1873, — Cash in the Bank of New Zealand 5,638 10 6 £10,638 10 6 "Nobtk Otago Disteicts Public Woeks Loan Act, 1872 :"— Payments to Provincial Account Interest on £5,000, half-year to 30 June, 1873 Redemption of Debentures Transfer to Land Fund, Otago 10,000 0 0 125 0 0 1,000 0 0 9,919 6 3 21,044 6 3 £21,044 6 3 Land Fund ■■— Receivers of Land Revenue Commissioners of Crown Lands... Refunds and Miscellaneous 1,010 9 2 3,604 4 5 1,053 15 4 Payments to Provincial Accounts Transfers, —■ To Consolidated Fund, on account of Balances at Debit of Provinces To Advances Defence Loan, on account of Balances at Debit of Otago in Separate Account To Land Fund, Auckland, on adjustment of Native Lands Court and Survey Expenses to 30 June, 1872... 5,668 8 11 963,823 10 6 13,766 7 10 1,247 0 3 18,829 9 2 3,816 1 1 988,321 8 7 Native Lands Acts Account, — Native Lands Court ... ... £5,476 0 3 Survey Department ... ... 4,746 3 1 Less Expenditure in excess of Appropriation 10,222 3 4 1,890 16 11 Refunds of Duty ... Unauthorized — In excess of Appropriation Services not provided for 8,331 6 5 21 17 6 1,890 16 11 310 4 11 2,201 1 10 1,319 2 4 Payments to Provincial Accounts 11,873 8 1 Total Disbursements 1,000,194 16 8 Balance on 30 June, 1872, — Advances, Cr. 593 14 8 Balance on 30 June, 1873,— Cash in tho Public Account Advances unaccounted for ... ... ... 3,194 7 0 107 2 7 3,301 9 7 1,004,090 0 11 Trust Fund:— Deposits Repaid Investments ... Interest Account, — Transferred to Government Annuities Account Transferred to Post Office Savings Bank Account Interest accrued on Debentures Purchased Balance transferred to Consolidated Fund 1,312 13 4 14,711 0 5 1,091 8 1 3,943 4 2 78,734 12 1 311,272 0 0 21,088 C 0 Balance on 30 June, 1873,— Cash in the Public Account, — New Zealand ... London 47,625 12 6 6,000 0 0 411,094 18 1 53,625 12 6 857 17 1 54,483 9 7 £405,578 7 8 Advances unaccounted for ...
8.—2
44
Table C. STATEMENT of the RECEIPTS and EXPENDITURE of the LAND FUND for the FINANCIAL YEAR 1872-73.
Table C(1). STATEMENT showing the RECEIPTS and EXPENDITURE of the PUBLIC TRUST FUND from the 1st JULY, 1872, to the 30th JUNE, 1873.
Balances Balances on 1st July, 1872. Receipts. Expenditure. on 30Lh June, 1873. Auckland Tarnnaki Wellington ... ... Hiiwke's Bay XoIpoii ... Marlborough Canterbury Wettland Otago Native Lands Acts Accounts £ s. d. Dr. 3,023 15 0 Dr. 4 10 8 Dr. 1,390 12 4 Dr. 2C>0 7 1 Dr. 31 18 6 75 5 6 4,370 18 0 503 13 3 Dr. 232 1 4 £ s. d. 21,027 13 9 254 16 8 52,746 14 6 42,785 12 6 24,097 18 4 6,674 2 1 475,801 3 4 28,034 13 10 330,181 11 6 13,235 14 5 £ 8. d. 20,992 19 10 250 0 0 51,356 2 2 42,502 12 1 24,005 4 3 5,710 0 10 480,137 4 0 29,145 2 3 331,221 17 2 11,873 8 1 £ 8. d. 10 13 5 16 13 4 CO 15 7 39 0 9 40 17 4 Dr. G 15 2 1,727 13 0 1,412 6 4 Deduct Debit Balances 4,955 16 9 5,549 11 5 3,308 4 9 6 15 2 1,004,000 0 11 Bulanees Dr. 593 14 8 1,000,194 10 8 3,301 9 7
Balance Eeceipts, Expenditure, Balance on 1st July, 1872, to 1st July, 1872, to on 1st July, 1872. 30th June, 1873. 30th June, 1873. 1st July, 1873. £ s. d. £ b. d. £ s. d. £ 8. d. Intestato Estates Fund Account Intestate Estates Expenses Account ... Estates of Deceased Soldiers Real Estate Administration Account ... Supreme Court Account Trustees Relief Act Account Unclaimed Dividend Account Unclaimed Property Account Unclaimed Balances Closed Accounts... Post Ollice Money Order Account Post Office Savings Banks Account .Military Savings Banks Account "Merchant Shipping Act, 1858," Account Native 10 per cent. Auckland Land Purchase Account Native Reserves Account Native 5 per cent. Wairarapa Land Purchase Account Natives at Wellington Deposits Account Land Assurance Fund Account Government Annuities Act Account ... Armed Constabulary Reward Fund ... "Lunatics Act, 1868," Account General Assembly Library Fund Interest Account ... " Militia Act, 1870," Account 21,007 9 7 169 11 4 1,007 8 2 1,567 10 9 1 10 10 220 6 2 341 15 5 505 9 0 138 16 4 Di: 1,251 7 2 386,428 10 6 156 4 9 10,761 10 8 62G 9 11 34 2 3 227 19 8 11,107 14 5 531 5 11 345 8 8 357 14 10 20,661 5 10 264 15 4 696 1 9 1,437 15 7 1 10 10 220 6 2 359 15 8 523 1 5 588 19 7 15,979 10 8 644,064 17 11 156 4 9 18 0 3 17 12 5 450 3 3 62,511 14 0 157,731 16 5 45,280 1G 2 95 9 0 30 2 3 17 0 31 9 3 4,681 18 8 4,214 0 4 6,573 15 11 7,557 1 5 4.G81 18 8 3,230 14 10 520 13 3 370 0 0 1,850 1 1 1(>,C37 16 1 100 0 0 420 13 3 370 0 0 3,681 13 10 3(5,449 11 6 1,187 0 5 1,376 5 0 1,254 13 G 50 0 0 1,868 7 2 31,252 9 7 2,503 9 6 261 15 6 75 0 0 21,088 6 0 40 6 0 36 14 5 11,740 14 2 1,310 9 1 140 4 O 125 0 0 21,088 6 0 40 6 0 Deduct Debit Balances 411,453 18 0 1,251 7- 2 Totals 99,822 18 1 636,423 18 3 440,202 10 10 29G, 041 5 6 Amount inveeted in Government Securities Cash in the Public Account Oaih in the New Zealand Public Account, London Advances unaccounted for £ f. d. 581,940 8 8 47,025 12 G 6,000 0 0 857 17 1 £636,423 18 3
45
8.—2
Table D. STATEMENT of the UNAUTHORIZED EXPENDITURE of the CONSOLIDATED FUND from the 1st JULY, 1872, to the 30th JUNE, 1873.
FOR SERVICES NOT PROVIDED FOR. £ s. d. £ b. d. £ 9. d. Colonial Charges :— goyeknhent domains and buildings,— Government House, — Painting, &c. G-overnment Buildings, Auckland, — Advertising .Tenders ... ... £3 10 0 First payment on account of Contract for Re-building ... ... 480 0 0 313 2 0 483 10 0 Less Contractor's Deposit forfeited 20 0 0 483 10 0 20 0 0 463 10 0 Government Printing Office, — Alterations, &c. ... ... £1,379 1 9 Erection of Closots and Tanks ... 29 0 0 1,408 1 9 Legislative,— Drafting Native Lands Bill, &c. Copying Parliamentary Despatches ... Drafting Gold Fields Bill ... 50 0 0 7 11 3 100 0 0 2,184 13 9 157 11 3 Judicial, — Supreme Court, Wellington—Furniture, Resident Magistrate's Court Port Chalmers —Compensation to T. Hinchcliffe, for loss of offico "Lunatics Act, 1868," — Refund of percentage in estate of 11. Dounes ... ... ... £20 0 0 Refund of percentage in estate of J. Kirby ... ... ... 17 0 7 108 5 6 130 7 3 37 0 7 Native, — Travelling Expenses, &c, of Officers attending the Native Minister Survoying llaoriori Reserves, Chatham Islands 275 13 4 178 9 0 75 3 6 253 12 6 Miscellaneous, — Travelling Allowances and Expenses of Chief Surveyors attending Conference at Wellington Travelling Allowances and Expenses of the New Zealand Representatives at the Australian Conference Clerical Assistance to Accountant in Bankruptcy Advertising in connection with Colonial Industries Refund of proceeds of sale of effects of late Ensign Whitefield ... Amounts returned to Intestate Estates Fund Account, — Estate of M. Hardman ... ... £223 11 8 „ D.F.Fletcher... ... 76 19 0 371 17 0 993 12 0 23 2 0 46 0 9 50 0 0 300 10 8 Contribution towards removal of Government Buildings, Westport Premium on Guarantee Policy of J. M. Batham Enquiry into sale of Land at Switzers, Otago ... Amount paid on account of Purchase Money of Township of Gisborne Interest on Purchase Money of Debentures of Defence Loan Interest on amount provided by Bank of New Zealand to cover Interest due in Sydney on Debentures and Treasury Bills 250 0 0 3 15 0 76 5 6 500 0-0 1 19 5 150 18 7 Recoverable : — Moiety of expense of Steamer from Shortland to Ohinemuri, Province of Auckland Advance in aid to Taranaki for construction of Waitara Bridge Printing Electoral Rolls and Ballot Papers for Province of Otago... Salary of Commissioner of Crown Lands, Otago, 1 January to 30 June, 1872 Interest on Advances to Patea and Waitotara Settlers 2,768 0 11 12 0 0 1,200 0 0 39 6 0 50 0 0 282 4 7 Carried forward ... 1,583 10 7 5,639 11 9 12
8.—2
46
Table Dcontinued. STATEMENT of the Unatjthorizi :d Expenditue: :— continued. FOE SERVICES NOT PROVIDED FOR. Brought forward £ s. d. 1,583 10 7 £ s. d. 5,639 11 9 £ I. d. Recoverable— continued Native Reserves, — Expenses of removal of Trustee, April to Juno, 1872 ... ... £9 10 6 Making maps of Native Reserves, Southland ... ... ... 15 15 0 25 5 6 Timber for Military Settlers of late 1st Waikato Regiment, recoverable from Defence Loan 323 8 8 7,571 16 6 1,932 4 9 Recovebed :— Compensation awards Confiscated Lands, transferred to New Zealand Sett lements Act Account Copying evidence, " Eyes Inquiry " Contractor's Deposit forfeited 2,283 0 0 12 4 0 20 0 O 2,315 4 0 2,315 4 0 FOR SERVICES IN EXCESS OP APPROPRIATIONS. 9,887 0 6 Class I. —Public Domains and Buildings :— Vote 2—Government Domains 470 9 3 Class II.—Public Departments i— Vote 6 —Governor's Establishment ,, 7 —Legislative Departments „ 8—Executive „ u 10—Printing „ „ 13—Electoral „ 147 1 6 2,336 0 10 361 9 9 580 15 0 450 7 2 Class III.—Law and Justice :— Vote 19 —Supreme Court „ 20—District Courts ,, 24—Justices of the Peace Act •i 25—Coroners ... „ 27 —Jurors 292 18 5 320 9 0 730 12 2 131 16 0 86 3 0 3,875 14 3 1,667 18 7 Class IV.—Postal kc. Services:— Voto 29—Postal Department... „ 33—Taranaki ... „ 42—Contingencies for all Post Offices ii 43—Telegraph Department 3 16 33 6 8 539 7 3 490 12 7 1,066 8 0 Class VI.—Native i— Vote 47 —General Contingencies 3,936 19 1 Class VII.—Miscellaneous :— Voto 50—Miscellaneous and Temporary Objects 9,030 3 0 Total in excess of Appropriations 19,947 12 2 Total... £29,834 12 8
47
8.—2
Table E. "APPROPRIATION ACT, 1872," SCHEDULE 4—COLONIAL DEFENCE. STATEMENT showing the EXPENDITURE ESTIMATED; the RECOVERIES TO CREDIT; the EXPENDITURE actually made during the Year from the 1st JULY, 1872, to the 30th JUNE, 1873; the AMOUNT RESERVED; and the SAVING or EXCESS.
dg Authorized. Actual Expenditure. Reserved. Sating. Excess. Estimates. Credits. Total. £ a. d. 1,475 0 0 £ s. d. £ a. d. 1,475 0 0 £ s. (I. 1,130 6 11 £ s. d. 44 13 1 £ s. d. £ s. d. 5S Defence Office ... u Armed Constabulary: — Commissioner's Office, &c. Pay and Allowances Contingent Expenditure: — Rations Clothing ,,, Forage Purchase of Horses Saddlery and Repairs ... Arms and Ammunition Travelling Expenses ... Transport Buildings and Repairs Shoeing Horses Fencing Hospitals Miscellaneous 1,550 0 0 i 89,070 7 6 ... ... 1,550 0 0 85,501 18 3 ... 11,023 6 6 I |- 10,345 10 9 ... I 112,073 9 3-j ... 1,890 18 6 1,394 1 2 2,582 4 7 359 0 0 199 6 11 39 17 6 130 11 6 1,087 7 8 686 9 4 263 4 0 2 10 2 107 9 8 84(3 13 8 22,099 14 10 ... ... ... I Amount to be contributed by Province of Auckland 101,043 li 0 6,643 1-1 0 95,000 0 0 10,345 10 9 6,727 18 6 112,073 9 3 96,701 12 11 0,727 18 6 I ... 17,073 9 3 112,073 9 3 89,973 11 3 22,099 14 10 Miscellaneous :— Prizes for Rifle Shooting Passages, &c, for Competitors Pay of Markers Purchase of Ammunition, Arms,' Targets, and Stores Carriage and Freight Insurances Repairs of Arms, Materials War Medal ... Contingencies ... ... ... 60 2,500 0 0 1,000 0 0 U 1,249 5 7 1,924 2 0 912 17 3 70 13 11 2,652 3 9 697 6 7 150 0 0 36 3 10 124 15 0 604 18 9 10,000 0 0 400 0 0 150 0 0 150 0 0 500 0 0 500 0 0 16,449" 5 7 9,276 4 6 Steamer "Luna" 15,200 0 0 1,249 5 7 16,449 5 7 7,173 1 1 9,276 4 6 61 3,500 0 0 24 0 0 3,524 0 0 3, 385" 13 3 138 6 9 r,2 Contingent Defence and Liabilities Charges and Expenses of Raising Loan, Discount, &c. 34,825 0"0 4,497 4 5 39,322 4 7 31,945 " 6 1 4,294 19 7 I 3,081 18 11 _34^25_J^ 0 4,49_7__4 7 39,322 4 7 36,240 5 8 3,081 18 11 68 69 00 Gl G2 SUMMARY OF^TOTALS. Defence Office ... Armed Constabulary Prizes, &c. Steamer "Luna"... Contingent Dbten ob, 4c.... 1,475 0 0 95,000 0 0 15,200 0 0 3,500 0 0 31,825 0 0 17,073 9 3 1,2!9 5 7 24 0 0 4,497 4 7 1,475 0 0 112,073 9 3 16,449 5 7 3,524 0 0 39,322 4 7 1,430 G 11 89,973 14 5 7,173 1 1 3,385 13 3 36,240 6 8 44 13 1 22,099 14 10 9,276 4 6 138 6 9 3,081 18 11 150,000 0 0 22,843 19 5 172,843 19 5 138,203 1 4 34,640 18 1
48
8.—2
Table F. STATEMENT of ACCOUNTS with the several PROVINCES under "The Payments to Provinces Act, 1872," for the FINANCIAL YEAR 1872-73.
CAPITATION GRANT. Sums Credited. Sums Debited. Balances. PROVINCES. Payable Paid Capitation Money. Special Allowances. Transfers to this Account to cover Debit Balances arising during the Year. Total. Interest and Sinking Fund. Payments on Account of Services charged Provincially. Total. to Provinces. TO Provinces. Dr. Or. auckland Takanaki Wellington Ha wee's Bay ... Nelson MaRLBOROUOH ... Canterbury Westland OlAQO £ s. d. 48,252 15 0 3,449 5 0 18,7(51 5 0 4,(559 0 0 17,29(5 10 0 4,038 0 0 36,679 10 0 11,535 15 0 55,467 0 0 £ s. a. 4,000 0 0 250 0 0 750 0 0 1,500 0 0 £ s. d. I ... 782 "o 1 £ a. a. 52,252 15 0 3,099 5 0 19,511 5 0 6,941 0 1 17,29(3 10 0 4,038 0 0 36,763 8 0 13,458 7 6 63,997 8 7 217,957 19 2 £ s. a.! 40,955 11 4 I 1,974 8 2 18,562 7 8 6,950 18 5 4,445 17 4 481 3 9 36,889 13 7 10,615 9 5 64,863 11 10 £ s. a. 85 4 2 84 0 0 78 17 6 36 5 0 10 0 12 10 0 £ s. d. 41,040 15 6 2,058 8 2 18,562 7 8 7,029 15 11 4,482 2 4 482 3 9 36,902 3 7 10,615 9 5 64,993 16 5 £ s. a. 11,211 19 6 1,610 16 10 948 17 4 Dr. 88 15 10 12,814 7 8 3,555 16 3 Dr. 138 15 7 2,842 18 1 Dr. 996 7 10 £ s. d. 10,270 10 3 1,568 9 7 692 8 10 11,813 13 10 3,267 3 8 £ ». d. 88 15 10 £ s. d. 941 9 3 72 7 3 256 8 6 1,000 13 10 288 12 7 ... 1,922 12 G ... 83 18 0 138 15 7 ... 8,530 8 7 13O'"4 7 2,649 4 3 996 7 10 193 13 10 ... Totals ... 200,139 0 0 8,422 12 6 9,396 6 8 185,739 1 6 428 1 3 186,167 2 9 31,790 16 5 30,261 10 5 i 1,223 19 3 2,753 5 3 GRANT TO ROAD BOARDS. Auckland. Taranaki. ■Wellington. Hawke's Bat. NXUKMT. Maelborough. Cantebbfby. Westland. Otago. Total. £ s. a. 12,060 0 0 £ b. a. 860 0 0 £ s. d. 4,690 0 0 £ 6. d. 1,160 0 0 £ s. d. 4,320 0 0 £ s. d. 1,010 0 0 £ s. d. 9,160 0 0 £ s. d. 2,880 0 0 £ s. d. 13,860 0 0 £ s. d. 50,000 0 0
49
8.—2.
Table G. GENERAL BALANCE SHEET and SUMMARY of TRANSACTIONS of the PUBLIC ACCOUNT for the FINANCIAL YEAR ended 30th JUNE, 1873.
Balances on 30th June, 1872. Teansactions. Ck. Funds. Dr. Disbursements and Transfers. Cr. Receipts and Transfers. 03 ON Dr. Cr. 30th June, 1873. £ a. d. £ e. d. 181,845 5 8 £ s. d. 1,194,217 1 8 £ b. d. 1,297,871 5 2 £ s. d. 288,499 9 2 Consolidated Fund Special Funds, — New Zealand Settlements Act Account Consolidated Loan Act „ Defence Loan Act „ Immigration and Public Works Loan Act Account Wellington Debts Act North Otngo Districts Public Works Loan Act Account Land Fund ... Trust Fund ... 9,373 9 11 8,243 6 10 77,864 7 2 75,68 1 1 4 10,638 10 G 27,637 13 10 101,886 4 9 305,562 9 0 1,479,628 9 1 5,000 0 0 21,044 6 3 1,000,194 16 8 411,094 18 1 37,606 16 8 103,620 0 0 331,430 5 7 1,599,368 0 4 595 12 11 9,977 2 1 103,732 3 9 195,423 12 7 5,638 10 6 593 14 8 21,014 6 3 1,004,090 0 11 412,966 14 4 3,301 9 7 54,483 9 7 52,611 13 4 Totals 9,967 4 7 400,887 4 10 4,546,265 19 4 4,807,997 9 3 661,651 10 2 Eeceipta in Suspense ... ... ... 606 9 6 ... £662,257 19 8 STATEMENT showing the Cash in hand, and the Impeests unaccounted for in respect of each Pukd, ou 30th June, 1873. Cash in the Public Account. Imprests unaccounted toe. Funds. Totals. New Zealand. London. Colonial. Foreign. Consolidated Fund Special Funds, — New Zealand Settlements Act Account Consolidated Loan Act ,, Defence Loan Act ,, Immigration and Public Works Loan Act Account Wellington Debts Act Account Land Fund ... Trust Fund ... Eeceipts in Suspense ... • £ s. d. 27,861 19 11 £ s. d. 233,476 5 1 £ s. d. 12,285 13 9 £ s. d. 14,875 10 5 £ s. d. 288,499 9 2 7,175 19 1 76,204 10 10 75,057 13 5 5,638 10 6 3,194 7 0 47,625 12 6 i 608 9 6 j 19,770 li 10 77,919 13 7 595 12 11 2,801 3 0 5,537 7 0 41,172 9 9 2,219 11 1 1,273 15 10 595 12 11 9,977 2 1 103,732 3 9 195,423 12 7 5.63S 10 6 3,301 9 7 51,483 9 7 606 9 6 6,000 0 0 107 2 7 857 17 1 ... ... Totals 243,365 2 9 i 337,166 13 6 I I 63,357 6 1 18,368 17 4 £662,257 19 8
8.—2
50
Table H. STATEMENT of the RECEIPTS of the CONSOLIDATED FUND for the YEAR ended 30th JUNE, 1873.
PROVINCE IN WHICH COLLECTED. CONSOLIDATED FUND. Chatham Islands. TOTALS. Auckland. Tabanaki. Wellington. Hawke'sBay Nelson. Mablbbo'. Canterbury. Wbstland. Otago. £ s. d. £ s. d. £ a. d. £ s. d. £ s. d. £ a. d. 1 £ a. d. 1 £ s. d. £ s. d. £ s d. £ ■. d. Customs: — Duties Ront8, Seizures, &c. Bonded Warehouse Duties Fees :— " Merchant Shipping Act, 1858" "Arms Act, 1860" ... " Marine Act, I860 " " Steam Navigation Act, 1866 " "Customs Regulation Act, 1858" " Oyster Fisheries Act, 1866 " "Trade Marks Act, 1868" ... " Drawbacks Act, 1872 " "Merchant Ships Officers Examination Act, 1870" " Distillation Act, 1868 " £ s. d. 12 15 0 194,112 14 2 434 10 8 1,109 16 3 6,869 18 7 25 14 11 25 0 0 94,720 2 2 27,638 17 9 70,042 11 8 8,193 10 10 15 1 8 50 0 0 120,568 17 6 7 3 7 526 15 2 55,132 1 9 2 15 0 425 0 0 271,364 2 1 3 15 0 875 0 0 851,655 11 6 489 0 10 4,108 3 5 52o" 0 0 264" 15 11 306 16 1 348 15 3 667 9 0 1,386 11 9 176 11 0 15 6 21 6 6 28 15 5 94 12 6 139 5 0 1,029 3 2 97 13 0 13 4 3 40 3 0 70 19 5 19 19 0 19 11 3 155 12 0 724 16 3 49 7 0 1 15 3 59 16 0 99 1 9 3 3 0 141 17 6 202 1 0 1,335 13 11 50 8 0 5 14 0 2 2 6 14 17 0 116 12 0 107 19 0 18 18 0 157 13 0 267 2 0 2,041 3 11 107 3 0 793 11 6 1,669 6 6 6,824 4 7 523 2 0 5 14 0 9 15 0 34 13 0 9 10 11 ... ... 6" 2 6 34 13 0 ... ... 2 17 6 0 12 6 ... ... 4" 0 0 9 9 5 ... ... 6" 1 6 46 3 0 78 0 0 9 0 0 79 0 0 18" 0 0 3 0 0 76 0 0 16" 0 0 10 0 125 0 0 58 0 0 3 0 0 182 19 0 53 3 0 641 19 0 Stamp Duties Postal Telegraphic Judicial Fees aiid Fines :— Supreme Courts Sheriffs' Ollices District Courts Resident Magistrates' Courts Pptty Sessions Courts Fees :— Registration of Land ,, Deeds ,, Births, Mai'riages, &c. „ Joint Stock Companies „ Medical Practitioners Issue of Crown Grants " Land Claims Settlement Act, 1856 " " Native Circuit Courts Act, 1858 " "Aliens Act, 1860" " Licensing Ordinance Amendment Acts" ... "Patents Acts, I860 and 1870" ... " Lost Land Orders Act, 1861" ... 4 19 10 17 10 11 14,759 5 3 10,109 6 1 7,812 3 3 463 18 5 687 14 8 629 9 9 10,273 9 2 5,876 17 6 6,273 6 10 2,794 3 4 1,822 13 0 1,877 13 8 4,223 15 3 2,685 14 6 3,722 2 11 711 3 0 927 2 11 1,031. 10 9 18,640 13 3 9,637 16 6 6,191 2 8 3,048 19 3 3,084 19 7 3,013 0 2 24,497 10 6 15,736 10 8 10,866 15 7 866,817 15 3 79,417 17 3 50,586 6 4 41,450 5 7 10 "7 2 1,044 13 4 132 16 11 678 0 6 3,985 1 4 96 1 6 16 2 0 9 7 0 94 16 6 278 6 2 524 11 2 14 14 0 2,160 18 1 2 10 10 126 4 0 86 15 0 12 10 0 387 5 4 29 12 6 332 17 0 0 10 0 236 0 6 2,970 2 1 56 15 0 51 8 0 44l" 8 7 26 12 8 969 17 6 40 13 4 104 1 0 3,810 0 2 85 12 1 105 1 4 0 5 0 481 3 10 2,643 4 3 1,156 19 4 41 7 0 463 8 8 4,861 13 5 45 6 8 4,333 0 8 327 16 3 2,070 1 0 21,551 6 7 285 16 3 28,568 0 9 ... ... 24 "l5 0 704 1 7 3,385 5 6 769 14 0 312 1 0 2 0 0 1,103 19 5 4 16 2 14 15 6 58 5 6 480 5 6 57 10 6 1 11 0 10 0 395 17 5 638 19 1 1,688 10 0 269 1 0 52 14 6 2 0 0 483 18 9 15 18 1 351 4 0 602 7 0 116 6 fi 568 2 0 461 8 6 205 17 6 10 15 0 265 8 10 369 16 0 69 14 0 1,817 2 0 3,135 17 (i 442 19 6 79 19 0 1 10 0 703 14 8 215 11 0 244 17 0 204 10 6 47 3 0 2,499 19 6 3,089 15 6 8S2 12 0 9 12 0 3 10 0 2,004 18 3 7,118 13 6 13,458 2 6 3,013 0 6 513 15 6 10 0 0 5,288 6 7 20 14 3 14 15 6 25 0 0 10 0 0 309 19 0 5 0 0 245" 9 8 124 12 5 32 2 4 193 13 8 io'"o 0 ... 25" 0 0 ... 5" 0 0 309 19 0 Carried forward ... 80 7 11 I 1 243,284 1 10 10,160 5 4 125,331 19 4 36,468 3 4i 86,922 9 5 . 168,627 12 4l 69,188 11 4; 344,165 18 7 29,817 7 4. 1,066,840 5 2 12,428 3 1
B.—2.
51
DSFASD
Table H— continued. STATEMENT of the Receipts of the Consolidated Fvxd for the Yea.b ended 30th Jvse, 187.3.
8.—2
52
Table H (1). STATEMENT showing the REVENUE from STAMP DUTIES during the FINANCIAL YEAR 1872-73.
Under Schedule I. Adhesive. Immigration and Public Works Account. Fees, Fines, Licenses Bank AND ' to Commission Consolidated Miscellaneous. Total. Impressed. Adhesive. Under Schedule II. Under Schedule III. Under Schedule IV. Composition. Penalties. Companies. Refunded. Fund. £ s. d. £ s. d. £ 3. d. £ s. d. £ 8. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. G-EIfEB.lL, — 0 18 0 4 1 10 4 19 10 4 19 10 Chatham Islands... Peovikcial, — 4,509 14 1 7,416 14 4 345 10 0 14 0 2 30 8 6 1,526 1 8 221 7 9 675 0 0 20 8 G 0 0 8 14,7o9 5 3 7,379 12 8 7,379 12 7 Auckland Taranaki 128 11 3 2G7 18 8 19 0 0 45 5 9 15 3 1 17 6 4S3 18 5 231 19 3 231 19 2 Wellington ... 2,610 1 11 5.G80 9 7 238 0 0 313 3 2 77 13 2 1,188 17 5 1G1 1G 3 1 G 0 10,271 7 6 5,127 7 1 5,141 0 5 Ilawke's Bay 810 9 5 1,139 6 0 22 14 10 33 14 1 684 13 8 95 5 3 0 8 8 1 11 5 2,794 3 4 1,397 1 8 1,397 1 8 Nelson... 1,010 5 3 1,528 18 9 195 10 0 135 6 3 7 4 7 1,297 11 11 47 8 6 1 10 0 4,223 15 3 2,110 7 8 2,113 7 7 Marlborough 187 6 3 433 1 3 3 0 0 Gl 10 0 26 5 6 711 3 0 355 11 6 355 11 G Canterbury 5,509 5 7 6,724 7 0 1,505 11 2 243 14 10 78 12 3 3,928 7 3 175 17 8 474 17 6 18,640 13 3 9,295 16 0 9,344 17 3 Westland 1,411 10 2 1,564 12 6 58 11 0 3 0 11 10 9 8 0 15 0 3,048 19 3 1,524 9 7 1,524 9 8 Otago, — 7,847 10 11 8,116 13 8 425 17 0 431 14 0 33 2 9 4.3G8 12 2 118 13 10 1,205 5 0 21 10 0 22,G29 1 4 £ 12,250 16 11 Duncdin 12, 248 .15 3 Invercargill 370 9 11 1,180 1 11 72 19 3 4G 19 9 200 0 0 1,870 10 10 I 21,402 2 9 34,056 5 6 1,219 19 2 25 17 8 79,417 17 3 39,678 2 2 39,739 16 1 2,88G 13 3 228 6 6 13,055 14 1 £06 3 8 2,615 2 6 21 12 2 It -will be seen that the column headed "Licenses to Joint Stock Companies" is in certain cases blank ; this is owing to the Keceivers not distinguishing in their Cash Books their receipts under this head. The sums received are of course included in such cases under the head " Adhesive Stamps." Owing to errors in the accounts of the Keceivers for Juno (subsequently corrected), the sums transferred to Public Works Account are not precisely correct. The requisite adjustments will be made iu the accounts of the current year.
53
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Table H (2). COMPARATIVE RETURN of CUSTOMS REVENUE at the several Ports of NEW ZEALAND, for the Financial Years 1871-72 and 1372-73.
Table H (3). RETURN of the GROSS CUSTOMS REVENUE for each Quarter, from September Quarter, 1861, to the Quarter ended 30th June, 1873, inclusive.
Poets. Financial Yeae 1871-72. Financial Yeab 1872-73. Increase. Dbcbease. £ s. d. 163,793 19 1 14,541 G 3 1,521 14 7 719 8 8 1,616 14 6 Nil. 5,506 12 6 16,789 1 11 58,233 8 11 22,383 2 5 4,135 5 10 1,230 1 11 707 6 1 78S 19 4 31,402 17 2 20,110 12 10 40,465 15 8 41,534 16 0 1,623 16 7 91,303 11 5 Nil. 12,046 1 6 6,432 13 4 212,923 10 0 20,861 14 8 5,278 3 10 12 15 0 £ s. a. 177,377 3 11 11,716 8 8 1,633 10 2 G1O 1 0 1,583 6 3 1,975 10 5 6,907 16 10 18,824 17 10 76,308 6 9 27,645 16 7 4,930 4 10 1,716 18 5 788 16 9 700 4 0 34,029 10 3 18,637 11 7 37,017 8 10 35,899 1 6 918 0 11 108,433 2 0 243 9 0 12,976 11 5 7,472 8 9 233,855 19 8 23,725 16 7 4,823 16 9 Nil. £ s. d. 13,583 4 10 & b. d. Auckland Thames Kussell Mangonui Hokinnga Poverty Bay ... New Plymouth ... Wnnganui Wellington ... Nnpier ... ... Wairaa Picton Hnrelock ICuikonra Nelson Westpirt Grcyinonth ... Hokitika Oknrito Lyttelton and Christcburcli Akaroa Titnaru Oainaru Duncdin Invcrcargill and Bluff ... Eivcitou Chuthams 2,824 17 7 111 15 7 79 7 8 63 8 3 1,975 10 5 1,401 4 4 2,035 15 11 18,074 17 10 6,262 14 2 794 19 0 486 16 6 81 10 8 88 15 4 2,62G 13 1 1,473 1 3 3,418 6 10 6,635 14 6 705 15 8 17,129 10 7 243 9 0 930 9 11 1,039 15 5 25,932 9 8 2,864 1 11 454, 7 1 12 15 0 94,574 18 10 14,756 9 2 775,993 10 0 855,811 19 8 Increase, £79,818 9s. 8d.
Financial Yeae 1861-G2. September Quarter ... ... £66,935 December „ ... ... 86,4(56 March „ 98,050 June „ 87,042 Financial Ye^ae 1867-68. September Quarter ... * ...£196,916") December „ 209,118 f /?>tqo->cn March „ 194,6181 t7yJ 'JJ"4 June „ 192,742 ) £339,393 Financial Yeae 1862-63. September Quarter £94,754 December „ 118,526 March „ 127,405 June „ 147,777 Financial Yeae 1868-69. September Quarter £191,607") December „ 209,862 ( £Q , March „ 189,590 C i8UV04 June „ 213,145.) £488,522 Financial Yeae 1863-64. September Quarter ... ... £145,594 December „ 171,001 March „ 147,778 June „ 152,629 Financial Yeae 1869-70. September Quarter £205,100} December „ 215,677 f „„„„,„ March , 199,664^ £S08 'i-2 June „ 187,981.) £617,002 Financial Y'eae 1864-05. September Quarter £140,872 December „ 150,995 March „ 167,(>9O June „ 183,740 Financial Yeae 1870-71. September Quarter £190,499 } December „ 187,752 f „-„„ _ n . March 171,479 f £'33 >300 June „ 183,570 ) £643,297 Financial Yeab 1865-66. September Quarter £180,160 December „ 198,418 March „ 208,794 June „ 208,855 Financial Yeak 1871-72. September Quarter £183,722} December „ 193,079 f „„_- „„„ March „ 196,283 C £775 >993 June „ 202,909.) £796,227 Financial Yeae 1866-67. September Quarter £199,452 December „ 227,253 March „ 220,183 June „ 217,780 Financial Yeab 1872-73. September Quarter £203,277") December „ ... ... 210,807 f „„,,„„ March ,, ... ... 210,466 1 June „ 231,262^ £864,668
8.—2.
54
Table H (4). RETURN of the VALUE of IMPORTS and EXPORTS at each Port of New Zealand for the Financial Year ending 30th June, 1873.
Value op Exports. Value op IjiroKTS. miters Endi lartcrs Endi Poets. Sept. 30. Dec. 31. Mar. 31. June 30. Total. Sept. 30. Dec. 31. Mar. 31. June 30. Total. £ £ £ £ £ £ £ £ £ £ Auckland 307,307 385,385 337,291 395,110 1,425,099 167,816 164,149 305,815 72,170 709,950 Thames 9,077 6,598 4,876 5,293 25,844 256 256 Russell 80 1,269 1,349 310 446 2,426 3,182 Mongonui 140 140 97 515 612 Hokianga 286 286 1,150 2,780 2,445 1,000 7,375 Poverty Bay ... 30 774 804 Nil. Kaipara 70S 1,044 1,752 New Plymouth... 5,914 3,688 4,846 5,566 20,014 170 216 386 Wanganui 8,418 12,171 13,997 12,069 46,655 35,928 35,928 Wellington 153,617 125,182 177,851 180,502 637,152 32,508 72,726 265,733 88,676 459,643 Napier 35,680 34,143 32,179 32,316 134,324 13 60,865 140,326 2,040 209,244 Wairau 3,039 2,169 3,758 2,925 11,891 50,901 18,415 69,316 Picton 681 1,158 699 2,064 4,602 1,820 1,700 1,828 1,155 6,503 Havelock 45 25 70 Nil. Kaikoura 46 60 106 Nil. Nelson 65,095 89,070 58,177 108,533 321,475 6,586 10,011 29,708 18,257 64,562 Westport 23,874 23,614 11,346 14,714 73,548 42,308 29,344 56,583 22,852 151,087 Grreymouth 47,466 50,692 26,426 38,364 102,948 67,637 37,252 114,992 51,405 271,286 Hokitika 35,615 40,427 32,901 39,741 148,684 63,417 44,537 S3,433 61,496 262,883 Okarito 3,788 2,616 3,292 1,870 11,566 Lyttelton 195,654 153,821 295,923 223,872 869,270 54,699 160,493 507,770 258,221 981,183 Akaroa 180 180 Nil. Timaru 8,711 18,047 5,969 14,703 47,430 14,279 2,620 6,800 Nil. 23,699 Oamaru 1,848 6,931 4,435 6,728 19,942 1,799 3,543 600 5,942 Dunedin 464,758 496,922 478,647 561,852 2,002,179 184,915 253,316 1,005,793 437,461 1,881,485 Invercargill and } Bluff Harbour) 26,890 39,992 22,932 37,794 127,608 23,815 13,914 224,151 4,069 265,949 Riverton 2,843 7,404 4,699 6,265 21,211 775 6,457 4,059 11,291 Chathams Nil. Nil. Totals 1,498,194 1,517,313 1,690,685 6,102,811 667,495 873,597 2,850,916 1,043,072 5,435,080 1,396,619 Year 1871-72 ... 1,149,905 1,085,410 1,219,497 1,028,030 4,483,442 1,218,099 1,008,201 2,411,787 1,237,741 5,875,828
55
8.—2
Table H (5). RETURN of the VALUE of IMPORTS and EXPORTS for each PROVINCE for the FINANCIAL YEAR ended 30th June, 1873.
Table H (6). RETURN of the QUANTITY of FLOUR and GRAIN Imported into and Exported from New Zealand for the Ten Years ended on the 31st DECEMBER, 1872.
Value op Impoets. VALtJE OF Pbovinces. Exports. Auckland Taranaki Wellington Hawke's Bay Marlborough Nelson Westland Canterbury Otago £ 1,453,522 20,014 683,807 131,324 ]fi,6fi9 476,497 230,158 916,880 2,170,940 £ 723,127 386 495,571 209,244 75,819 351,292 410,092 1,004,882 2,164,667 Totals ... 0,102,811 5,435,080
18G3. 1864. 186! 1866. 186' Imports. Exports. Imports. Exports. Imports. Exports. Imports. Exports. Imports. ExportB. Flour ... tons 14,986 16,188* 19,801 23,264 2i 8,098 971* Grain— Barley ... bushels 35,364, 3,238 14,868 18,904 2,390 28.9G6 392 413 9,258 Maize ... „ 195,225 127,246 133,975 125,680 114,566 Oats ... „ 505,460 459,185 3,580 99,295 19,584 89,043 27,449 65,672 17,639 Wheat ... „ 164,022 248,803 331,116 3,473 26G.186 4,769 235,473 131,915 Not described „ 2,024 186: 1861 187i 187 187: Imports. Exports. Imports. Exports. Imports. Exports. Imports. Exports. Imports. Exports. Flour ... tons 8,871 153* 6,347} 504 4,759 737* 5,7762 926* 3,631* 517* Grain— Barley ... bushels 15,031 1,600 1,058 114,915 50 156,213 249 11,537 51,366 92,557 Maize ... „ 86,701 1,150 107,425 88,583 310 112,624 108 233,204| 130 Oats ... „ 10,227 484,533 1,606 342,677 9,618 340,205 215 594,149 275 565,901 Wheat ... „ 188,477 94,297 183,256 81,758 80,011 387,185 158,871 271,941 72,774* 477,455 Other Kinds „ 331 54 1,846 1,339* Nil.
8.—2
56
Table H (7). RETURN of the QUANTITY and VALUE of GOLD EXPORTED from the various Provinces of New Zealand during the Four Quarters of the Financial Year 1872-73, as compared with the corresponding Quarters of the previous Year.
Four Qcabtees ended SOtii June, 1873. FOUE QuABTEES ENDED 30tH JUXE, 1872. Total Exported foe the foue qvaktebs ended 30m June, 1873. Total Expoeted FOB THE foub qttartees ended 30th June, 1872. Pboduce op ExroBTiNQ Pobh. Quarters ended Quarters ended THE PEOTINCE OP 30th Sept. 31st Deo. ;31st March. 30th June. 30th Sept. 31st Dec. 1st March. 30th June. Quantities.! Value. Quantities. Value. i ' Oz. Oz. Oz. Oz. Oz. Oz. Oz. Oz. o, • Oz. £ Auckland Auckland 25,399 7,790 53,G78 11,305 126,229 54,862 32,587 39,114 98,172 335,339 252,792 903,626 Picton Marlborough 456 426 411 280 500 800 ... 1,573 6,292 1,300 5,200 Nelson 49 9G 367 178 197 155 75 512 2,018 605 2,420 Nelson Nelson 4G9 572 5,937 3,574 1,330 3,623 3,668 3,466 10,552 42,208 12,087 48,348 Westport N 10,178 6,935 13,765 j 5,461 12,623 17,166 9,772 6,665 36,339 145,356 46,226 184, 904 Grejmouth n 8,746 5,484 15,417 7,996 14,038 11,806 14,468 11,241 37,643 150,572 51,553 206,212 Grejmouth Westland 7,574 3,518 12,909 4,271 9,627 8,682 10,284 6,902 28,272 112,088 35,495 141,980 Hokitika >* 15,174 10,313 22,456 14,357 24,356 20,449 23,302 18,043 62,300 249, 200 87,050 318,200 Okarito n 947 654 823 468 1,147 2,955 748 536 2,892 11,568 5,381 21,524 Ljttelton n 40 1 155 40 160 156 624 Dunedin Otago 28,718 21,973 73,676 41,200 29,845 82,672 56,783 44,845 165,567 662, 268 164,150 656,600 Invercargill H 1,246 941 1,677 33 1,430 1,253 2,275 888 8,897 15,588 5,846 23,384 ! I 1 Totals 98,956 58,742 201,116 88,945 221,304 153,665 154,997 132,675 447, 759 1,732,687 662,641 2,545,022
57
B.—2.
15
Table H (8). RETURN showing the AMOUNT and VALUE of GOLD EXPORTED during the Financial Years from 1857-58 to 1872-73.
1857-58. 1858-59. 1859-60. 1860-61. 1861-62. 1862-63. 1863-64. 1864-65. 1865-66. Oz. Value. Oz. Value. Oz. Value. Oz. Value. Oz. Value. Oz. Value. Oz. Value. Oz. Value. Oz. Value. £ £ £ £ ! £ 13,689 £ 11,878 £ 11,627 £ 16,197 Auckland Wellington ... Nelson Marlborough Canterbury ... Westland Otago Southland ... £ I 3 ■8 3 44 O I 4,337 3,910 3,853 5,410 3 O ... ... ... ... ... 8J873 34,'381 10,772 7,205 23 41,745 27,919 91 27,720 22,424 57,025 107,491 85,878 226, 573 135,275 2,418 390,238 524,199 9,373 1,512,093 ... 49l|'686 1,905 ", 284 537,817 I J2,084,' 039 309^576 1,199,610 203,850 1,625 738,816 789,919 6,297 ... ... ... Totals 17,220 66,730 , 9,482 36,717 6,147 23,818 6,341 I 24,568 2,858,078 449,279 1,740,056 504,896 1,953,354 559, 727 ■2, 165, 672 420,598 1,631,179 18G6-67. 1867-68. 1868-69. 1869-70. 1870-71. 1871-72. 1872-73. Oz. Value. Oz. Value. Oz. Value. Oz. Value. Oz. Value. Oz. Value. Oz. Value. Auckland Wellington ... Nelson Maryborough. Canterbury ... Westland ... Otago Southland ... 4,368 £ 8,847 22,984 ! £ 73,966 90,900 964,124 180,924 2,800 166 588,992 425,768 184,648 598,180 155,072 42,812 4,099 : I £ 286,335 114,642 30 723,696 148,072 664 1,337 I £ 402,998 120 593,182 5,348 181,427 £ 657,098 ] 252,792 £ 905,626 98,172 £ 335,339 168, 044 532 337,837 651,173 2,061 1,309,120 241,031 700 147,248 106,442 149,545 10,703 678,653 121J996 2,006 487,984 8,024 ... 100,866 1,905 439,464 7,620 84,'534 2,085 338, 136 8,340 154,973 8,791 674,545 600,521 31,067 2,605,789 738,592 153,506 620,288 *156,869 16,396 634,099 *627,562 136,101 *178, 359 514,404 *713,436 128J082 j169,996 662, 641 512,328 93 |504 373,016 679,984 169,464 677,856 ... ... Totals 2,696,612 615,809 2,385,971 579,456 619, 889 2,410,946 2,545, 022 447,759 1,732,687 2,263,309 Total Amount op Gold Expoeted Total Value or Gold Expobtbd i * Including late ProTince of Southland. 7,008,309 Ounces. £27,195,886.
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58
Table H (9). RETURN showing the VALUE of NEW ZEALAND PHORMIUM EXPORTED during the under-mentioned Periods.
Provinces. 1867. 1868. 1869. 1870. 1871. 1872. Half-year ended 30th June, 1873. £ £ £ £ £ £ Auckland 3,575 5,664 24,013 42,827 26,882 37,972 12,256 Taranaki 88 80 Wellington 75 1,158 21,264 18,987 24,159 25,509 Hawke's Bay 575 3 185 Marlborough 790 3,065 6,469 4,690 Nelson 42 1,694 3,058 2,024 3,591 Canterbury 70 487 16,840 52,006 26,160 13,733 25,957 Otago 287 1,585 3,098 9,968 1 12,456 14,775 13,149 Southland 324 326 95 3,454 Totals 4,256 8,137 45,246 132,578 85,232 90,611 99,405
8.—2
Table H (10). RETURN showing the QUANTITY and VALUE of WOOL EXPORTED from NEW ZEALAND during the under-mentioned Periods.
59
1867. 1868. 1869. 1870. 1871. 1872. Half-tbab ended 30th June, 1873. PROVINCES. Quantity. Value. Quantity. Value. Quantity. Value. Quantity. Value. Quantity. Value. Quantity. Value. Quantity. Value. lbs. £ lbs. £ lbs. £ lbs. £ lbs. £ lbs. £ lbs. £ Auckland 477,338 37,822 857,443 51,341 1,015,566 61,510 1,338,443 74,054 1,216,279 68,778 813,659 64,008 696,074 46,299 TaranaM 9,279 495 2,160 108 Wellington 2,824,437 182, 158 3,621,398 205,095 3,347,781 169,488 4,969,354 239,318 4,302,132 208,017 4,552,310 304,822 4,827,365 349,461 Hawke's Bay 1,156,819 71,926 1,183,306 45,035 811,993 47,101 2,039,214 102,452 1,654,053 79,592 3,618,316 242,440 2,041,870 139,424 MarlborougU 1,058,965 46,803 1,421,180 35,642 1,473,601 50,546 1,381,769 53,188 1,605,074 48,967 1,611,424 73,225 1,440,998 63,995 Nelson 531,297 28,590 600,701 29,132 294,019 11,251 354,126 12, 690 292, 314 13,162 356,021 20,661 48,666 2,780 Canterbury 11,232,018 627,678 10,862,937 576,076 10,013,395 387,557 12,485,720 489,938 12,744,148 495,843 11,744,333 663,090 10,280,061 625,623 Westland County ... 31,850 1,180 15,506 890 40,277 1,711 62,230 2,603 40,760 2..751 34,600 2,300 Otago 8,317,079 479,927 8,204,211 452,734 8,920,812 528,891 11,617,926 564,654 13,553,570 562,112 1 19,150,174 1,166,922 15,814,723 1,051,398 Southland 1,541,804 105,209 2,089,977 120,205 1,866,963 113,996 2,812,934 165,939 2,363,934 127,070 Totals 27,152,966 1,580,608 28,875,163 1,516,548 27,765,636 1,371,230 37,039,763 1,703,944 37,793,734 1,606,144 41,886,907 2,537,919 35,184,357 2,281,280
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60
Table I. STATEMENT of CAPITATION ALLOWANCE, at 15s. for each of the undermentioned PROVINCES, on the basis of their respective Populations.
Table J. Both of the Tables on this page are corrected from those of last year, the detailed Census of New South Wales for 1871 having been received since the former Tables were constructed.
CENTAL PROPORTIONS of the POPULATION, at various ages, in NEW ZEALAND, NEW SOUTH WALES, and VICTORIA, for the Year 1871, with those of England and Wales for 1861.
Table J (1). COMPARATIVE TABLE of the POPULATIONS of NEW ZEALAND, NEW SOUTH WALES, and VICTORIA, at various ages, from the Census Returns of 1861 and 1871; showing Centesimal Rate of Increase.
Pbovinces. Population. Rate. Capitation. Special Allowance. Total. Auckland Taranaki Wellington ... Hawke's Bay ... Nelson Marlborough ... Canterbury Westland Otago 66,805 4,756 27,066 7,294 23,611 5,544 51,510 15,176 77,661 15s. £ s. d. 50,103 15 0 3,567 0 0 20,299 10 0 5,470 10 0 17,708 5 0 4,158 0 0 38,632 10 0 11,382 0 0 58,245 15 0 £ s. d. 4,000 0 0 250 0 0 750 0 0 1,500 0 0 £ s. d. 54,103 15 0 3,817 0 0 21,049 10 0 6,970 10 0 17,708 5 0 4,158 0 0 38,632 10 0 13,279 0 0 58,245 15 0 1,897 0 0 Totals 279,423 15s. 209,567 5 0 8,397 0 0 217,964 5 0
1861. 1871. Ages. New Zealand. New South Wales. England and Wales. Victoria. Under 5 years 1346 18-167 16267 15947 5 to 10 years 10 to 15 years 11-681 12-735 13994 14-556 10-492 8-627 11-443 11-697 15 to 21 years 11-548 7-874 10-129 8-796 21 to 40 years 27-97 3811 29-452 28-962 40 to 55 years 14-342 10-858 12-279 15-141 55 to 65 years 5-776 2-441 4-098 3-213 65 years and upwards 4-731 1-078 2-125 1-373 Unspecified •11 •213 •315 100The Population of England and Wales is exclusi re of the Army, Navy, and Merchant Seamen sej ■ing abroad at thi
sw Ze. New South W, .LES. Victoria. Ages. 1861. 1871. Increase per cent. 1861. 1871. Increase per cent. 1861. 1871. Increase per cent. Persons. Persons. Eate. Persons. Persons. Eate. Persons. Persons. Rate. Under 21 years ... 45,546 121,537 166-84 173,064 261,233 50-94 221,373 373,048 68-51 21 to 40 years ... 37,282 97,710 16208 108,475 148,433 36-84 237,313 211,863 cfc.10'72 40 to 55 years ... 10,553 27,840 163-81 45,762 61,878 35-21 62,156 110,761 18-2 55 to 65 years 2,508 6,259 14966 12^132 20'653 70-23 10,799 23,506 m-67 65 years and upwards 706 2,765 291-64 4 796 10711 121-33 3,222 10,048 211-85 Unspecified 2,426 282 rfc.88-38 6,631 1,073 rfc.83-819 5,459 2,302 <7e.57-83 Totals ... 731,528 35-38 99,021 256,393 158-93 350,860 503,981 43-642 540,322
61
8.—2
Table K. RETURN of the Total Value of IMPORTS and EXPORTS of VICTORIA, NEW SOUTH WALES, and NEW ZEALAND, for the Six Years ending 31st December, 1871, with the Rate per head of Population.
VICTOEIA. NEW SOUTH WALES. NEW ZEALAND. Teaes. Impoets. Exports. Imposts. EXPOETS. Imports. EXPOBTS. Population. Population. Population. Value. Eate. Value. Eate. Value. Eate. Value. Eate. Value. Eate. Value. Eate. 1866 ... 643,912 £ 11,315,638 £ s. d. 17 11 5 £ 9,433,473 £ s. d. 14 13 0 | 431,412 1 6,412,442 £ s. d. 14 17 3 : £ 6,057,585 £ s. d. 14 0 9 £ 5,657,601 1 £ s. d. 27 2 3 £ 4,396,100 £ s. d. 21 1 4 208,682 1867 659,887 8,921,986 13 7 4 9,972,333 15 2 3 j 447,620 4,553,594 10 3 5 4,834,505 10 16 0 218,668 5,179,393 23 13 8 4,479,464 20 9 8 1868 684,316 9,424,565 j 13 15 6 11,697,893 17 2 0 466,765 5,736,817 12 5 9 4,878,344 10 9 0 226, 618 4,825,312 21 5 10 4,268,762 18 16 9 1869 710, 878 9,984,452 14 0 10 9,539,816 13 8 4 485, 356 6,334,888 13 1 0 7,875,577 16 4 6 237,249 4,841,400 ! 20 8 II 4,090,134 17 4 9 1870 724,725 9,089,067 12 10 9 9,103, 323 12 1 1 502,861 6,069,820 12 1 5 6,302,577 12 10 8 248,400 4,360,941 17 11 1 I 4,544,682 18 5 11 1871 752,445 8,935,797 11 17 6 11,151,622 14 16 5 519,182 7,577,014 14 12 0 8,048,420 15 10 0 266,986 3,967,098 14 17 2 ; 5,171,054 19 7 4 NEW ZEALAND, including Aboriginal Natives (36,000 in Number at present). AVEEAGE OF SlX YbAES. Imposts. EXPOBTS. Imposts. EXPOETS. Yeabs. Population. Population. Value. Bate. Value. £ £ a. d. ' £ 5,657,601 22 17 8 4,396,100 Value. Eate. £ s. d. 17 15 8 Value. Bate. Value. Eate. 1866 247,222 £ £ s. d. £ £ s. d. 1867 257,208 5,179,393 ' 20 2 9 4,479,464 17 7 6 Victoria 696,027 9,611,917 13 16 2 10,149,743 14 11 8 1868 264,518 4,825,312 18 4 10 4,268,762 16 2 9 New South Wales 475,532 6,114,096 12 17 2 6,332,836 13 6 4 1869 273,249 4,841,400 17 14 4 4,090,134 14 19 4 New Zealand ... 234, 434 4,805,291 20 9 11 4,491,699 19 3 2 1870 | 15 19 8 17 13 10 284,400 4,360,941 15 G f 4,544,682 3,967,098 13 1 10 5,171,054 Ditto, including Natives 271,597 4,805,291 4,491,699 16 10 9 1871 302, 986 19 7 4 In this Table the British and Foreign goods exported from each Colony has been deducted from both Imports and Exports, leaving as Imports the goods retained in the Colony, and for Exports the produce or manufactures of such Colony.
8.—2.
62
By Authority: Geoeqe JDidsbcby, Government Printer, Wellington.—1873.
[Price 2s, 3rf.]
Tabe L. RETURN showing the value oF GOLD, WOOL, GRAIN, and other AGRICULTURAL PRODUCE (including Flour, Butter, and Cheese), TIMBER, and FLAX, exported from the Colonies of VICTORIA, NEW SOUTH WALES, and NEW ZEALAND, for the Five Years ending 31st December, 1871, with the Rate per head of Population.
1867. 1868. 1869. Abiicles. Victoria. Now South Wales. New Zealand. Victoria. New South Wales. New Zealand. Victoria. New South Wales. New Zealand. Value. Eate. Value. Eate. Value. Eate. Value. Eate. Value. Eate. Value. Eate. Value. Eate. Value. Eate. Value. j Eate. I I * ; ! I £ £ s. d. £ £ s. d. £ £ 8. d. £ £ s. d. £ £ s. d. £ £ s. d. £ £ s. d. £ £ s. d. £ £ b. d. Gold 5,738, 993 8 14 0 ■ 129,619 0 5 9 2,,124,, 25 '6 12 9 2 6,629,465 9 13 9 125, 293 0 5 4 2,492,721 11 0 0 5,363,759 7 10 10 309,053 0 12 9 2,341,592 917 5 Wool ' 3,650,611 5 10 7 1,711,322 3 16 5 1,580,608 7 4 7 4,567, 182 6 13 5 1,879,751 4 0 6 1,516,513 6 13 10 3,235,091 4 11 0 3,162,522 6 10 4; ; l,371,230 | 5 15 7 Agricultural Produce 122,972 0 3 7 198,910 0 8 10 37,532 j 0 3 5 194,350 | 0 5 8 264,277 0 11 3 127,704 0 11 3 58,983! 0 18 296,562 0 12 2 142,307 0 12 0 Timber 2,960 0 0 1 17,541 0 0 loj 16,105 0 15 8,024 0 0 3 12,707 0 0 8 15,653 0 14 7,552 0 0 2 23,159 0 0 10, 22,338; 0 1 10 Fax 4,256 0 0 5 8,137 0 0 9 45,245 0 3 10 I I Totals 9,515,536 14 8 3 2,057,398 4 11 10 4,362,777 19 19 0 11,399,021 16 13 1 2,282,028 4 17 9 4,160,763 18 7 2 3,791,296 7 1(5 1 3,922,712 16 10 8 8,665,385, '12 3 8 1870. 1871. AVEBAGE OF THE FlTE TeASS. Aeticles. Victoria. New South Wales. New Zealand. Victoria. New South Wales. New Zealand. Victoria. New South Wales. New Zealand. Value. Bate. Value. Eate. Value. Eate. Value. Eate. Value. Eate. Value. Eate. Value. Eate. Value. Eate. Value. Eate. ! ! I £ £ s. d. £ £ s. d. £ £ s. d. £ £ s. d. £ £ s. d. « £ s. d. £ £ s. d. £ £ s. d. £ £ s. d. Gold 4,891,781 6 15 0 386,930 0 15 4 2,163,910 8 14 3 5,423,687 7 8 8 *910,825 1 18 5 2,788,368 10 8 10 5,609,537 7 19 10 372,344 0 15 8 2,502,173 10 8 10 Wool 3,119,899 4 6 1 2,741,141 5 9 0 1,703,944 6 17 2 4,287,011 5 17 6 4,748,160 9 2 11 1,606,144 6 0 3 3,771,959 5 7 5 2,848,579 5 19 10 1,555,695 6 9 10 Agricultural Produce 99,898 0 2 9 165,894 0 6 7 183,472 \ 0 14 9 75,924 0 2 1 57,367 0 2 2 203, 506 0 15 3 110,425 0 3 2 196,603 0 8 3 138,904 0 11 7 Timber 1,003 22,037 0 0 10 18,323 0 1 6 6,733 0 0 2 58,371 0 2 3 20,479 0 16 5,254: 0 0 2 26,763 18,580 0 16 Flax 132,578! 0 10 8 90,611 0 6 10 56,165 0 4 8 ! ' I 1 Totals 8,112,581 11 3 10 3,316,002 6 11 9 5,774,723, 4,709,108i 17 12 8 9,497,175 13 10 7 3,444,289 7 4 10 4,271,517 17 16 5 4,202,227: 16 18 4 9,793,355 113 8 5 ,11 5 9 * The amount of Gold Coin iroduced in the Mint in Sdne 1 from Gold received from other Colonies has been deducted from the Total Export of Gold as shown in the Export Keti irns of New South Walei.
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Bibliographic details
FINANCIAL STATEMENT, (In Committee of Ways and Means, July 29, 1873) BY THE COLONIAL TREASURER, THE HONORABLE JULIUS VOGEL., Appendix to the Journals of the House of Representatives, 1873 Session I, B-02
Word Count
35,346FINANCIAL STATEMENT, (In Committee of Ways and Means, July 29, 1873) BY THE COLONIAL TREASURER, THE HONORABLE JULIUS VOGEL. Appendix to the Journals of the House of Representatives, 1873 Session I, B-02
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