FINANCIAL STATEMENT, (In Committee of Ways and Means, July 30, 1875) BY THE COLONIAL TREASURER, THE HONORABLE MAJOR ATKINSON.

Appendix to the Journals of the House of Representatives, 1875 Session I, B-02

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1875. NEW ZEALAND.

FINANCIAL STATEMENT, (In Committee of Ways and Means, July 30, 1875) BY THE COLONIAL TREASURER, THE HONORABLE MAJOR ATKINSON.

Mr. O'Rorke, — The absence upon the present occasion of my honorable colleague Sir J. Vogel is, I am sure, a matter of very great regret, not only to the members of this Committee but also to the country at large. My honorable friend the Native Minister has, however, already expressed very fully to the House the feelings of the Government upon this subject, and it is therefore only necessary for me now to refer to it as the cause of my occupying the position which my absent colleague has filled with such undoubted genius. Honorable members will readily understand that I have undertaken the task with very great diffidence and under a strong sense of responsibility, and will therefore, I trust, kindly extend to me as full a measure of indulgence as I can reasonably ask. There have been so many positive statements and so many intangible rumours circulated of late, both here and in England, to the discredit of the financial position of the colony, that I should altogether fail in my duty were I not to take this opportunity of placing upon official record a refutation of them. To accomplish this, I do not propose to enter into a longargument with real or imaginary opponents, but to give an absolutely full statement of our real financial position, in the simplest form and language of which I am master. A plain unvarnished statement of the true condition of our monetary affairs will, I think, be the best possible answer to our unscrupulous slanderers, while it will at the same time enable honest doubters to ascertain for themselves, with very little trouble, the truth or falsehood of what they read and hear. I may therefore have to trouble the Committee at greater length than I could have desired, but the question being of such vital importance to the interests of the colony, I am sure the Committee will approve of the course I propose to follow. My subject naturally divides itself into two parts —Loans and Revenue. I proceed, therefore, to consider the question of LOANS. It is desirable that I should first make a short statement as to the raising of the last Four Million Loan. When Sir J. Vogel first submitted the Public "Works and Immigration policy for the approval of the country, it was intended to extend the execution of the works over a long period of time. But no sooner was the scheme fairly initiated, than pressure, which apparently it was impossible to resist, was brought to bear upon the Government from all sides to hurry on the works. The House and the country determined that the works Avere to be vigorously prosecuted, and in obedience to that determination the late Government did proceed with vigour, not only in the construction of railways, but also with respect to the introduction of immigrants; and, as a necessary con-

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sequence of this, it followed that the loans authorized to carry out the Public Works and Immigration scheme had to be placed upon the market at much shorter intervals than was originally intended, and as a matter of course we have had to pay more for our money and for our works than if the latter had been carried on as first proposed. Of the total colonial loans authorized between June 1870 and June 1874, amounting to seven and three-quarter millions, honorable members have probably not realized the fact that, speaking in round numbers, two millions is still unraised; but such is the case as I shall presently show, and this fact, the Committee will shortly see, had an important bearing upon the action lately taken by Sir J. Vogel in London, in placing the whole of the Four Million Loan upon the market at one time. The expenditure out of the loans referred to during the four financial years 1870-74 amounted to £4,289,877 os. 9d., and it was estimated that during the year 1874-75 a further sum of £3,300,000 would be required ; there was at least the expenditure for 1875-76 to be provided for also, which will probably reach £2,250,000. The Committee will therefore see that over the whole period from 1870 to the end of the present financial year, the expenditure and liabilities of the colony for Public Works required that provision should be made to the extent of £9,839,877. Of this sum only £5,795,200 in all had been raised, and it became necessary without delay to provide for the difference, amounting to £4,044,677. It was therefore decided if possible to sell the whole of the Four Million Loan, and Sir J. Vogel, Sir P. G. Julyan, Dr. Featherston, and Mr. Sargeaunt were appointed Agents for the purpose. Unfortunately, grave differences of opinion arose between Sir J. Vogel and his co-agents. Sir J. Vogel wished to call for the whole amount at once through the Messrs. Rothschild, while Sir P. G. Julyan, Dr. Featherston, and Mr. Sargeaunt thought a better price might have been obtained if the requirements of the Government had permitted the loan to be sold by two instalments. Ultimately, upon his strong representation, the plan of Sir J. Vogel was adopted by his three colleagues, but apparently with considerable reluctance, and it was agreed that the whole of the loan should be called for by the. Messrs Rothschild upon the terms and conditions set forth in the contract, a copy of which has been laid upon the Table of the House. The contract, as will be seen, contains, besides the usual stipulations, a guarantee from the Messrs. Rothschild of the immediate sale of three millions, and the sale of the fourth million within one year; the selling price was to be 94, out of which a commission of 2 per cent, was to be paid to Messrs. Rothschild. The net price received by the colony, after deducting accrued interest on the deferred instalments of purchase money, was £90 19s. 7d. By the terms of this contract, honorable members will see that whether the loan had been successfully floated or not by the contractors, the colony would have obtained the necessary means to continue its public works and immigration. I particularly commend this fact to the consideration of the Committee. Sir J. Vogel on the one part, and Sir P. G. Julyan, Dr. Featherston, and Mr. Sargeaunt on the other, made separate reports to the Government upon the transaction; and although differing materially in opinion upon some points, the Committee will be glad to learn that the last-named gentlemen, in their letter to Sir Julius Vogel of the 12th April, 1875, state —" We beg to repeat what we have already stated in our report to the Colonial Secretary, dated 19th ultimo, —'That, considering its magnitude, the terms upon which this transaction has been carried out appear to us exceptionally favourable.' " With all the facts of the case before them, knowing the necessities of the colony and the uncertainties of the money market, the Government are clearly and decidedly of opinion that the course pursued was the right one, and that the operation, considering the efforts made to discredit our finance, was marvellously good; and further, that to Sir J. Vogel is due the successful termination of the negotiation. The whole of the loan was placed by the Messrs. Rothschild, and £3,167,571 12s. 4d. of the purchase money had been paid into the Bank of New Zealand to the credit of the Piiblic Account at the date (31st May) of our last advices. To enable the Committee to form a correct estimate of the relative price obtained for this loan, the following tabular statement, carefully prepared, shows

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the actual annual cost per cent., after taking into account the premium or discount, brokerage, and commission, of each of the colonial loans raised in London since 1870:

From this it will be seen that the actual annual cost of the last loan, after making allowance as above stated for the redemption of the discount, &c, is £5 Is. lOd. per cent. The average rate of interest on the loans negotiated in London since 1870, exclusive of the last loan, is £4 19s. 6d. per cent., and inclusive, £5 os. 7d. per cent. With this I think we should, on the whole, be very well satisfied, as in the original estimate, when the public works and immigration scheme was first introduced, it was calculated that the money might be obtained for s;j per cent. I have indicated above that the whole proceeds of the late loan was being paid into the Bank of New Zealand in London, to the Public Account; papers relating to this subject have already been laid upon the Table by command of His Excellency. The balance remaining in the Bank of New Zealand on the 31st May, after repaying a sum of £660,000 advanced by the Bank of England upon the security of the £800,000 Imperial guaranteed 4 per cent, debentures, was £2,056,716 11s. Bd., but against this sum drafts on the Crown Agents to the amount of £1,050,000 had, up to the 30th June, been discounted by the Bank in the colony. By a perusal of the papers above referred to, honorable members will learn that Sir J. Vogel has entered into a special arrangement with the Bank of New Zealand in London, whereby the Bank agrees to pay interest on the balance at credit of the New Zealand Public Account at the rate of f per cent, below the current Bank of England rate of discount, instead of 1 per cent, as under the arrangement previously existing. It will be observed also that the probable average balance at credit of the account for the year is estimated by Sir J. Vogel at £1,500,000, and that he proposes to invest in Exchequer Bills any sum in excess of that amount. I think it unnecessary to enter into the particulars of any of the loans contracted before 1870. They impose a heavy annual burden upon the colony, and to the extent of fully three millions were quite unproductive, being for war expenditure chiefly incurred under officers of the Imperial Service. The history of these loans is too well known to require further explanation from me. I will pass on to a statement of the amount raised and expenditure made under the several Loan Acts of 1870, 1873, and 1874. DEFENCE AND OTHEE PUEPOSES LOAN, 1870. I take first the Defence and Other Purposes Loan. The £1,000,000

Uame of Loan. Date of Raising. Amount liaised. Amount of each Issue. Nominal Price. Hate of Interest per Cent. i E | U Cash received per £100 Bond. Actual Annual Cost per Cent. Average of AnnualCost eicluaive of Loan of 1874. Average Annual Cost, inclusive of Loan of 1874. £ 750,000 £ £ s. d. yrs £ s. d. £ s. d. £ s. d. £ s. d. Immigration and Public WorksLoan, 1870 (£1,000,000) Defence Loan, 1870 (£1,000,000) Immigration and Public WorltB Loan, 1870 April 8, 1871 450,000 > 1,200,000 95 16 9 86 95 0 6 5 6 4 „ April 9,1872 850,000 ( 1,000,000 100 10 6 5 86 99 13 11 5 0 4 Defence Loan, 1870... »» 150,000 Immigration and Public Works Loan, 1870 July 31, 1873 500,000 500,000 102 10 0 5 86 102 0 3 4 17 6 4 19 6 5 0? Immigration and Public Works Loan, 1870 Jan. 16,1874 500,000 500,000 98 0 0 *i .'!() 97 9 7 4 13 2 Immigration and Publie Works Loan, 1873 (£2,000,000) Immigration and Public Works Loan, 1874 (£4,000,000) May 29,1874 1,500,000 1,500,000 98 0 0 4£ 80 95 3 9 4 16 3 Mar. 10, 1875 4,000,000 4,000,000 94 0 0 4£ 90 19 7 5 1 10 30

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authorized by this loan was appropriated as shown in tho Table which I now present:—

Defence and Otiier Purposes Loan Act, 1870. 30th June, 1875.

The five years have now expired for which the Defence vote was taken, and only £681,703 2s. 4d. has been spent out of the £790,000 authorized, and last year the Defence Loan estimates were relieved by one-half the sum required (£65,000) being charged against and paid out of revenue. The £37,000 appropriated for the redemption of Treasury Bills, and a balance of £9,563 out of the £173,000 for funding provincial debts, not being required for the purposes specified, have not been raised. The total unraised portion of this loan amounts to £179,700, of which, however, £52,700 has been hypothecated to the Bank of New Zealand for a nominal advance of £50,000 —a transaction to which I shall refer again presently. The total expenditure to the 30th June, 1874, being £845,139 14s. Bd., there is a balance of £154,860 ss. 4d. remaining. This balance is, however, subject to charges for liabilities outstanding on the 30th June, £29.545 4s. Od. The balance available for future expenditure will therefore amount to £125,315 Is. 4d., less the charges and expenses of raising. I postpone for the present the consideration of the Immigration and Public Works Loan, 1870, as it will be more convenient to consider the whole of the Immigration and Public Works loans together, and will now take

THE GENEKAL PUEPOSES LOAN", 1873. The following Table shows the appropriation of the £750,000 authorized to be raised by this Act:—

GENERAL PURPOSES LOAN ACT, 1873. 30th JUNE, 1875.

Service. Authorized. Expended to June 30, 1875. Balance. Liabilities. Balance Available. First Schedule :— Defence Serrices — 1870-71 ... 1871-72 ... 1872-73 ... 1873-74 1874-75 £ £ s. d. £ 3. d. £ s. d. £ s. d. 180,000 160,000 150,000 150,000 150,000 160,712 3 1 153,203 19 3 142,415 1 7 143,385 17 10 81,986 0 7 108,206 17 8 37,000 0 0 Redemption of Treasury Bills Second Schedule:— Auckland... ... £50,000 Taratiaki ... ... 6,000 Wellington ... 17,000 Otago ... ... 100,000 790,000 37,000 681,703 2 4 29,545 4 0 78,751 13 8 37,000 0 0 173,000 163,436 12 4 9,563 7 8 9,563 7 8 1,000,000 845,139 14 8 154,860 5 4 29,545 4 0 125,315 1 4

Sebvice. AtrmOEIZED. Expended to June 30, 1875. Balance. Liabilities. Balance Available. Repayment to Immigration and Public Works Loan for Interest and Sinking Fund paid or to be paid therefrom Repayment to Immigration and Public Worka Loan for Grants to Road Boards Grants to Road Boards, 1873-74 1874-75 Telegraph Extension ... Lighthouses ... ... Public Buildings Charges and Expenses raising Loan £ £ s. d. £ a. d. £ b. d. £ s. d. 300,000 218,500 0 0 81,500 0 0 81,500 0 0 150,000 50,000 50,000 50,000 35,000 115,000 50,000 0 0 25,000 0 0 48,712 11 1 3,658 19 11 68,539 2 3 5,168 9 8 150,000 0 0 150,000 0 0 25,000 0 0 1,287 8 11 31,341 0 1 46,460 17 9 Dr.5,168 9 8 1,287 8 11 31,341 0 1 46,460 17 9 -Dr. 5,168 9 8 25,000 0 0 Totals 750,000 419,579 2 11 | 330,420 17 1 223,920 17 1 106,500 0 0

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Before proceeding to remark upon the operations exhibited by these figures, I must refer to the extraordinary misapprehension which appears to exist, even among well-informed people, with regard to the extent to which interest upon loans has been paid out of borrowed money. This misapprehension has probably arisen from two causes —first, from the payments made in London for interest being apparently taken from loan ; and secondly, from the first item in the above table having been voted. As this is a question closely affecting the credit of the colony, I will, for the information of the Committee, show what has actually been done in the matter. With regard to the first of these causes, I will state what is the position of the colony as to its receipts and disbursements in London and in New Zealand: With a consolidated revenue amounting for the past year to, say, a million and a half flowing into its coffers in the colony, it has charges for the year, payable in the colony, of about £750,000 only, and charges of about an equal amount for interest and sinking fund (colonial and provincial) payable in London. On the other hand, it has large sums raised by loans at its credit in London, one-half of which, to speak in round terms, is required to be disbursed in the colony. The practice, then, is to pay the interest and sinking fund (which is chargeable on the revenue) out of Public Works funds in London, and on the receipt of the Crown Agents' account in the colony to charge the interest and sinking fund so paid to the Consolidated Fund. My honorable colleague Sir J. Vogel took occasion, in making the Financial Statement last year, to call attention to a sum of £150,000 which, by a standing arrangement, is advanced from the Consolidated Fund to the Public Works Account in the colony as an equivalent for a corresponding sum assumed to be due out of revenue to the Public Works Account in London in respect of moneys applied out of the last-named account—that is, out of loan— to the payment of interest and sinking fund. I may state that the sum of £150,000, to which I have referred as a standing advance from the Consolidated Fund to the Public Works Account in the colony, was enlarged to £180,000 on the 26th February last, and by my direction a further sum of £97,163 4s. 7d. was advanced from the same fund to the Public Works Account on the 30th June last, in order to cover the total interest and sinking fund payable out of Public Works funds in London up to the 15th July now current. Honorable members will observe, that not only is the whole of the interest and sinking fund from time to time payable in London covered throughout the year by an advance from revenue made to the Public Works Account in the colony, but that, as respects the interest and sinking fund due in London on the 15th July, the transferhas been made fifteen days in anticipation of the liability. The whole arrangement is, as honorable members will see, merely a convenient mode of avoiding the payment of exchange, and nothing more. With regard to the second cause of misapprehension, I may say that to charge interest upon capital for works in course of construction has always been considered a legitimate transaction, and is, I believe, invariably done in the case of works undertaken by a public or private company. Had this rule been applied, as it might most reasonably have been, in the case of the reproductive public works executed in New Zealand, there would have been paid out of loan to the 30th June last a sum of £324,000, whereas there was actually paid only £218,500. Now, it is worthy of note that the total sum ever asked or granted out of loan for the payment of interest was the £300,000 constituting the first item of the General Purposes Loan, and, be it observed, that with full authority to expend that sum the Government only expended £218,500; and as it had decided not to pay any more interest out of loan, it is my intention to ask the Committee for authority to apply the remaining balance of £81,500 to another purpose. But this, after all, is only one side of the case. In 1871, one-half of the receipts from the Stamp Duties was set apart by Act of the previous year to aid the Public Works Loan in the construction of railways or in the payment of interest thereon, and up to the 30th June last a sum of £179,303 19s. 4d. had been paid to the credit of the Public Works Loan from this source—that is, from revenue. So that, as between revenue and loan, the position is^this : there has, on the one hand, been paid out of loan the sum of £218,500 for interest upon

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works under construction; while, on the other hand, there has heen paid out of revenue the sum of £179,303195. 4d.in aid of loan. The difference, therefore, between these two sums, viz. £39,196 os. Bd., represents the actual total amount paid out of loan for interest. The moieties of Stamp Duties payable to the Public Works Loan during the ensuing four months will more than cover this difference, and by the end of this financial year the loan will have received from revenue £241,800, as against £218,500 taken out of it, so that there will have been contributed out of Consolidated Revenue, over and above all interest, the sum of £23,300 to loan, which will be further augmented year by year. When I say that no less a sum than £2,384,942 11s. 6d. has been paid from revenue since 1870 for interest upon loans, honorable members will see the absurdity of the assertion that we have been paying interest out of loan. Last year all interest was paid out of revenue; and this year the same course will be followed, notwithstanding the fact that provision has to be made for interest upon the additional four millions last raised. The total expenditure made from the General Purposes Loan, of which I am now speaking, up to the end of the past financial year, was £419,579 2s. lid., and the balance then unapplied amounted to £330,420 17s. Id. Of the £250,000 grants to Road Boards, £175,000 appears unexpended ; but against this sum £150,000 has been advanced from the Immigration and Public Works Loan, and distributed to the Road Boards, so that there is an available balance of only £25,000 for future expenditure. The small balance of the amount appropriated for the extension of the Telegraph will be absorbed by its share of the as yet undistributed costs of raising the loan. The balances applicable to Lighthouses and Public Buildings will each be liable to a deduction for charges and expenses. Other engagements already entered into will require the whole of the balance available for Lighthouses, and estimates of the proposed expenditure will be submitted to the Committee. The balance unexpended on the item Public Buildings will also be required for liabilities incurred before the 30th June. I shall refer again to these items in my remarks on the Immigration and Public Works Loans. The available balance of this loan, after providing for all liabilities except the cost of raising it, will be £106,500, represented by the unused balance of £81,500 out of the sum appropriated for interest on works in progress, and the £25,000 unexpended balance applicable to grants to Road Boards. There remains unraised of this loan £463,000, of which, however, debentures for £210,500 have been hypothecated to the Bank of New Zealand for an advance of £200,000. I will here say a few words explanatory of this transaction, and of the advance of £50,000, to which, in my remarks upon the Defence Loan, I promised to refer. In June 1874, my honorable colleague Sir J. Vogel arranged with the Bank of New Zealand for an advance of £200,000 upon bonds of the General Purposes Loan, with a view to provide funds for the expenditure sanctioned by Parliament under that Act, and a similar arrangement was made with the Bank in May last for an advance of £50,000 against debentures of the Defence Loan. At the time when the first of these arrangements was made, it was hoped that a sale of New Zealand Bonds might have been effected at fair prices in the Colonial market. It may, however, be remembered, that in his Budget Speech of last year my predecessor referred to the apparent cessation of demand for local securities in the Colonial market, and subsequent experience has confirmed the doubts he then expressed. An endeavour was made by Sir J. Vogel, when in Sydney on his way to England, to dispose of a parcel of £300,000 of General Purposes Loan Bonds, bearing 5 per cent, interest, at par; but up to the middle of last month about £50,000 only had been sold, and it was then deemed advisable to withdraw the bonds from sale, and to close the operation. We have consequently been unable to redeem the debentures hypothecated to the Bank as security for the advances of £200,000 General Purposes Loan, and £50,000 Defence Loan; for although the colony has large funds at its disposal, it is unable to repay these advances, owing to that wholesome restriction which forbids the ways and means provided by Parliament for one service to be applied to another.

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While, however, the Government has been unable to pay off the advances, it has, by an arrangement with the Bank, annulled the liability for interest, by depositing with it a sum of £250,000 of the Immigration and Public Works Loan, to bear the same rate of interest as that payable to the Bank on its advances. Honorable members will recognize that, with the large funds now at our disposal, it would be unwise to seek outside for the ways and means required to carry on the services authorized by the General Purposes Loan Act and the Defence Loan Act; and I shall accordingly ask the Committee to sanction the transfer of such sums from the Immigration and Public Works Loan Account as may be necessary to provide for the expenditure to be made under those Acts during the current financial year. THE IMMIGEATION AND PUBLIC WOHKS LOANS, 1870, 1873,1874. I now come to the consideration of the three Immigration and Public Works Loans of 1870, 1873, and 1874. I propose to treat these for the purpose of this Statement as one loan, with the double object of saving the time of the Committee and of making the position of these loans clearer to honorable members. The following table shows the amount authorized for each service, the sum spent to 30th June, the balance in hand on that date, the liabilities outstanding against that balance, and the balance remaining for appropriation.

IMMIGRATION AND PUBLIC WORKS LOANS. 30th JUNE, 1875.

The balance yet to be raised of the three Immigration and Public Works Loans amounts to £1,312,100, including the £800,000 covered by the Imperial guarantee. The sums required during the next two years to complete works will absorb £882,786 ss. lOd. of that sum, and the balances comprised in the total of £429,313 14s. 2d., though not in all cases specifically appropriated, will all be required for expenditure on the services to which they were originally dedicated in the Schedules to the Acts. It must be remarked that the sum of £6,474,694 10s. 10d., specified in the Table I have just read as the amount expended to the 30th June last, is simply the disbursements made out of the money borrowed. Other disbursements to a large amount have been made out of the Immigration and Public Works Loan Account; but those disbursements are balanced by large recoveries of various kinds, and by the Stamp Duties, amounting to £179,303 19s. 4d., which have been brought into the account, and have been set off against the cost of the lines constructed in the several Provinces. It will be seen that as respects the amount authorized for railways the liabilities (and under this term are included not only the contract liabilities incurred, but the engagements yet to be entered into to complete certain works) the liabilities, I say, will exceed the total amount originally authorized by a sum of £35,405 12s. lid. Against this excess may be placed the Stamp Duties accruing between the Ist July last and the date of completion of the lines in respect of which they are available, and some minor recoveries yet to be made. These items will co-f er the excess, and will leave a

Sebvice. AUTHOBIZED. Expended to 30 June, 1875. Balance. Liabilities. Balance Available. Railways Immigration Roads, North Island Water Supply—Gold Fields Lands, North Island Telegraph G-old Fields Public Works ... Buildings Telegraph Lighthouses Other Purposes ... Grants to Road Boards £ 6,500,000 1,500,000 460,000 300,000 700,000 90,000 50,000 £ a. d. 3,949,397 12 0 1,029,599 3 6 449,012 4 5 214,875 18 0 377,059 18 1 90,000 0 0 15,000 0 0 £ s. d. 2,550,602 8 0 470,400 16 6 10,987 15 7 85,124 2 0 322,940 1 11 £ s. d. 2,586,008 0 11 81,781 0 0 14,995 12 7 83,373 17 4 193,159 0 0 £ s. d. Dr. 35,405 12 11 388,619 16 6 Dr. 4,007 17 0 1,750 4 8 129,781 1 11 35,000 0 0 35,000 0 0 400,000 61,926 5 2 428 7 6 137,395 2 2 150,000 0 0 [- 200,250 5 2 j Dr. 150,000 0 0 10,554 2 3 13,512 0 0 35,058 19 11 42,549 2 0 t 98,576 1 0 Z>r.l50,000 0 0 10,000,000 6,474,694 10 10 3,525,305 9 2 3,095,991 15 0 429,313 14 2

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fair margin for contingencies. I have included in the liabilities referred to a sum of £446,400 for additional expenditure to complete works authorized, and I shall have to ask the Committee to sanction this expenditure by a vote. Particulars of the several items of expenditure, with all necessary information in respect to them, will be given in what I may call the Departmental Statements and Reports, which will shortly be delivered by my colleagues and myself. I have now placed before the Committee, at some length, the exact condition of the loans as they stood on 30th June last. "With the permission of the Committee, I will summarize what I have stated:

In concluding this part of my subject, I think it desirable to show in a compendious form the existing and prospective liabilities of the Colony, including all Provincial Loans. The first table shows—

THE NET PUBLIC DEBT UNDER COLONIAL AND PROVINCIAL ACTS ON 30TH JUNE, 1875.

Table A, page 2.

The total public debt of New Zealand on the 30th June, 1875, was £17,421,106, or including therein the sum of £250,000 advanced by the Bank of New Zealand on the security of debentures, £17,671,106 ; and the annual charge thereon for interest is £835,150 10s., and for Sinking Fund £110,635 ss; total, £945,785 15s. The charge for interest is calculated on the sum first mentioned, because, as I stated in my remarks on the General Purposes Loan, the colony is at no charge for interest on the sum of £250,000 advanced by the Bank. And I may further state that it is intended to ask the Committee to authorize the Government to redeem these hypothecated bonds out of Immigration and Public Works Funds, pending the raising of the balances of the General Purposes and Defence Loans. I have stated that the total existing liability to the bondholders, including the advance of £250,000 upon the hypothecated debentures, is £17,671,106, and that the annual charge thereon is £945,785 155.; but in diminution of this amount the colony has a balance of cash amounting to £2,167,896 Bs. 7d. yet to expend, subject, of course, to outstanding liabilities, made up as follows: — Amount raised but unexpended— £ s. d. Consolidated Loan ... ... ... 8,55117 O Defence Loan ... ... ... ... 24,8G0 5 4 Immigration and Public Works Loans ... ... 2.067,303 9 2 General Purposes Loan ... ... ... 07,020 17 1 North Otago District Public "Works Loan ... 160 0 0 £2,107,896 8 7 There is, besides, an item on the credit side of the account which should not be overlooked—l refer to the accumulated Sinking Funds. These funds amounted on the 30th June last to £1,074,647 ss. Id., and really represent the extinction of so much of the colonial indebtedness existing at that date.

LOANS. ArTHORIZED. Expended. Balances, Liabilities to 30 Jfme, 1875. Available. Totals. Balances of Loans tet to be Raised. Defence and Other Purposes Loan General Purposes Loan Immigration and Public Works Loan £ 1,000,000 £ s. d. 845,139 14 8 £ s. d. 154,860 6 4 £ 8. d. 29,545 4 0 £ s. d. 125,315 1 4 £ s. d. 1,000,000 0 0 £ ». d. 179,700 0 750,000 10,000,000 419,579 2 11 8,474,691 10 10 330,420 17 1 3,525,305 9 2 223,920 17 1 3,095,991 15 0 106,500 0 0 429,313 14 2 750,000 0 0 10,000,000 0 0 463,000 0 O 1,312,100 0 O Total ... 7,739,413 8 6 4,010,686 11 7 3,349,457 16 1 1,954,800 0 0 11,750,000 661,128 15 6 11,750,000 0 0

Colonial and Provincial Debentures in Circulation (for details see Table A) Advances on Debentures hypothecated, viz.,— On £210,500 Debentures of the General Purposes Loan On £52,700 Debentures of the Defence Loan £200,000 0 0 50,000 0 0 £ e. d. 17,421,106 0 0 250,000 0 0 Total 17,671,106 0 0 Deduct Sinking Funds accrued ... ... ... 1,074,647 5 1 Net Public Debt on the 30th June, 1875 16,596,458 14 11

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I have said in my preceding remarks that, as respects several of the loans authorized, there are certain balances yet remaining to be raised. I will now inform the Committee to what extent the liability of the colony will be increased when these balances are raised. The following table represents the total existing debt, the sums authorized to be raised but not yet raised, and the aggregate total which the public debt will reach when the whole of the loans now authorized shall have been raised :—

GROSS PUBLIC DEBT, COLONIAL AND PROVINICAL ALL LOANS AUTHORIZED ARE RAISED.

The annual charge in respect of the total prospective public debt of £19,380,906 will be £925,140 10s. for interest, and £110,635 ss. for Sinking Furd, or in all £1,035,775 155., as follows :— £ s. d. Total annual charge for Interest on Public Debt, as in Table A... 835,150 10 0 To be raised— Immigration and Public Works LoanImperial Guaranteed, £800,000 at 4 percent. ... ... £32,000 0 O Colonial Issue, £12,100 at 5 per cent. 605 0 0 Loan of 1873, £500,000 at 5 per cent. 25,000 0 0 Defence Loan, £179,700 at 5 per cent. ... 8,985 0 0 General Purposes, £463,000 at 5 per cent. 23,150 0 0 89,740 0 0 North Otago Loan, £5,000 at 5 per cent. ... ... 250 0 0 Total annual charge for Interest ... ... ... £925,140 10 0 Total annual charge for Sinking Fund... ... ... 110,635 5 0 Total annual charge for Interest and Sinking Fund on prospective Public Debt ... ... ... ...£1,035,775 15 0 But I must remind the Committee that on that amount of indebtedness being attained, and that annual charge incurred, the whole of the cash balance now available, plus the proceeds of the loans yet to raise, or in all a sum of £8,877,696 has yet to be expended; and here I must again refer to the sums set apart as Sinking Funds. The sum which the colony is now annually adding to its investments of Sinking Fund amounts in respect of the colonial debt, as it stood on the 30th June last, to £110,635 55.; and assuming two years to elapse before the balance of the several loans are raised, the accumulated Sinking Funds will amount on the 30th June, 1877, to, say, £1,400,000, and the total prospective debt of £19,380,906 will have been practically reduced to £17,980,906. In concluding my remarks upon the Public Debt and on the Sinking Funds applicable to its redemption, it may be as well to state that the repayment of several of the loans is secured on the proceeds of special blocks of land set apart for the purpose. The loans contracted under " The Wellington Debts Act, 1871" (£75,000), the North Otago District Loan of 1872 (£70,000), and "The Westland Loan Act, 1873" (£50,000), are of this character; and in the case of the loan B. 2.-2

Table A, page 2.

Total Gross Public Debt on the 30th June, 1875 To be raised— Immigration and Public Works Loan— Loan of 1870— Guaranteed by Imperial Government ... £800,000 0 0 Colonial Issue ... ... ... 12,100 0 0 Loan of 1873 ... ... ... 500,000 0 0 £ s. d. 17,671,106 0 0 £1,312,100 0 0 General Purposes Loan ... ... £463,000 0 0 Less Bank Advances ... ... ... 200,000 0 0 263,000 0 0 Defence Loan ... ,.. ... £179,700 0 0 Less Bank Advances... ... ... 50,000 0 0 129,700 0 0 North Otago District Public Works Loan ... ... ... 5,000 0 0 1,709,800 0 0 Total Debt, Colonial and Provincial, when all Loans now authorized are raised ... £19,380,906 0 0

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first named, the proceeds of land sales will enable the amount to be paid off in about seven years from this date. I will now invite the attention of the Committee to the Revenue and Expenditure of the colony for the past year, beginning with the transactions in THE CONSOLIDATED FUND. In laying before the Committee the results of the past year in regard to the question of Revenue and Expenditure, I cannot, I think, do better than follow the practice of my predecessor. I shall therefore endeavour to show you, as briefly and as clearly as I can, what were his anticipations as to these two subjects, and what are the actual results. Beginning, then, with the anticipated surplus of 1873-74, estimated to amount to £207,461 16s. 4d., I have to state that, owing to some of the estimated assets not having been recovered, the receipts under that head have fallen short by £2,602 9s. 2d. On the other hand, the liabilities have proved to be less than the estimate by £641 6s. 2d. Setting these two items against each other, we find that the surplus of 1873-74, estimated at £207,461165. 4d., proves to be £205,500 13s. 4d., or £1,961 3s. less than was anticipated. EEVENTTE OF THE TEAR 1874-75. The revenue of the year just closed, as actually received up to the 30th June, has exceeded that of the previous year by £184,785 19s. 2d., and has exceeded the estimate by £108,402165. sd. Such an increase should, I think, be amply sufficient to reassure the most timid; and a careful examination of the revenue receipts for the five years since 1870, when the Public Works and Immigration scheme was adopted, will certainly satisfy all reasonable people that the colony has steadily progressed since that policy was inaugurated. The Consolidated Eevenue for the five years stands thus:— £ s. d. 1870-71 ... ... 936,188 5 10 1871-72 ... ... 1,031,082 18 7 1872-73 ... ... 1,119,904 3 4 1873-74 ... ... 1,420,216 17 3 1874-75 ... ... 1,605,002 16 5

Tabe B (1) ; pages 8, 9.

Table H, page 29,

I give the actual receipts of the year 1874-75 under their several heads, as compared with those of the previous year, and show the increase upon each.

The table which I have just presented contrasts most favourably with the similar table presented on all previous occasions. Its mechanical simplicity alone should commend it, for it will be observed that, as no one item of revenue shows a decrease, it has been found unnecessary to provide the column usually devoted to the exhibition of those objectionable items.

Heads or Receipt. Revenue of the tear 1874-75. Retenue of the yeae 1873-74. Increase. 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 £ s. A. 1,223,614 3 2 4,872 10 2 10,247 10 2 2,069 18 9 2,777 18 6 110,641 0 3 72,037 0 0 55,552 2 9 32,263 14 10 11,521 7 0 15,833 2 0 4,845 8 3 6,459 16 6 2,188 3 10 50,079 0 3 £ s. d. 1,111,942 9 8 4,285 17 2 8,877 3 2 2,039 19 0 2,357 12 3 94,656 O 5 60,535 18 2 51,082 18 9 28,459 17 3 9,625 1 1 15,091 0 6 3,719 17 0 4,988 1 10 1,219 14 3 21,335 6 9 £ s. d. 111,671 13 6 586 13 0 1,370 7 0 29 19 9 420 6 3 15,984 19 10 11,501 1 10 4,469 4 0 3,803 17 7 1,896 5 11 742 1 6 1,125 11 3 1,471 14 8 968 9 7 28,743 13 6 Totals... 1,605,002 16 5 1,420,216 17 3 184,785 19 2

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I will now compare the actual revenue of the year 1874-75 with the revenue as estimated under each head, and show the increase or decrease on the estimate:—

In two cases only has there been any decrease. In the one case —Postal —the decrease has occurred through the non-receipt from the Imperial Government of. a sum of about £12,000 due for postages to the end of December 1874. Advices from Sir Julius Vogel inform us that this sum will be immediately paid, and I have accordingly included it in my statement of the assets of the past year yet to be realized. It will be seen that, had this sum been brought to account, the Postal Revenue would have shown an excess of £10,037 over the estimate. In the other case—that of Land Transfer—the decrease of £478, as compared with the estimate, appears to be owing simply to the latter having been framed on a too sanguine basis. There was an increase last year of £1,896 on the actual revenue of the year preceding, and that increase is quite up to the ordinary ratio. The total Consolidated Revenue of the year 1874-75 is as follows :—Revenue actually received to the 30th June, £1,605,002 16s. od., and assets yet to realize, £96,350 18s., making a total of £1,701,359 14s. sd. To this sum we have to add the surplus of the year 1873-74, £205,500 13s. 4d., and we have a total of £1,906,860 7s. 9d. EXPENDITURE OF THE YEAE 1874-75. The expenditure of the year 1874-75 was estimated by my honorable friend Sir J. Vogel at the total sum of £1,637,998 14s. 7d., subject to such augmentations as might arise out of the passing of Supplementary Estimates. The additional expenditure sanctioned under that head amounted to £22,318, and consequently raised the estimated total from £1,637,998 14s. 7d. to £1,660,316 14s. 7d. The expenditure of the year to the 30th June amounts to £1,730,429 14s. 10d., and is made up as follows:— Colonial Charges, viz., — £ s. d. Civil List ... ... ... ... ... ... ... ... 28,297 11 3 Permanent Charges,— Interest and Sinking Fund ... ... ... £283,959 17 5 Under Acts ... ... ... ... ... 47,701 14 11 331,661 12 4 Appropriations ... ... ... ... ... ... ... 551,771 7 3 Eefundsof Eevenue ... ... ... ... ... ... ... 2,919 6 2 Unauthorized Expenditure,— For Miscellaneous Services ... ... ... £18,090 2 9 In Excess of Votes ... ... ... ... 23,675 5 2 41,765 7 11

Table B (1), pages 8, 9.

Table D, page 22.

DlFFEEENCES. Heads of Receipt. Revenue of the yeae 1874-75. Revenue as Estimated. In Excess of Estimate. Less than Estimate. Customs —Duties, Eents, Seizures, &c. Bonded Stores ... Fees, Marine Act, including Light") Dues ... ... / Arms Act ... ... f 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 £ s. a. 1,223,614 3 2 4,872 10 2 £ a. d. 1,150,000 0 0 4,400 0 0 £ 8. d. 73,614 3 2 472 10 2 £ b. a. 15,095 7 5 12,500 0 0 2,595 7 5 110,641 0 3 72,037 0 0 55,552 2 9 32,263 14 10 11,521 7 0 15,833 2 0 4,845 8 3 6,459 16 6 2,188 3 10 50,079 0 3 100,000 0 0 74,000 0 0 55,000 0 0 28,000 0 0 12,000 0 0 15,000 0 0 4,000 0 0 5,500 0 0 1,200 0 0 35,000 0 0 10,641 0 3 552" 2 9 4,263 14 10 833 2 0 845 8 3 959 16 6 988 3 10 15,079 0 3 1,963 0 0 478 13 0 Totals 1,605,002 16 5 1,406,600 0 0 110,844 9 5 2,441 13 0 Deduct Decrease 2,441 13 0 Net Increase over Estimate 108,402 16 5

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Moiety of Stamp Duties paid to Public "Works Loan Account ... ... 55,319 0 2 Treasury Bills redeemed ... ... ... ... ... ... 100,000 0 0 Transfer to Public Works Loan Account to provide for Interest and Sinking Fund payable in London to 15th July ... ... 277,163 4 7 Temporary Advances repayable,— To Trust Fund ... ... ... ... ... ... ... 20,000 0 0 To Land Fund ... ... ... ... ... ... ' ... 184 18 0 Total Colonial Charges ... ... ... ... ..."£1,409,082 7 8 Provincial, — Capitation Allowances ... ... ... ... £233,171 5 0 Special Allowances ... ... ... ... ... 48,363 7 6 281,534 12 6 Less payable in July... ... ... ... ... 10,372 5 6 271,162 7 0 Advances under " Provincial Public Works Advances Act, 1874" ... ... £51,500 0 0 Less repaid ... ... ... 1,314 19 10 50,185 0 2 Total Provincial Charges ... ... ... 321,347 7 2 Total Actual Expenditure to 30th June... ... ... ...£1,730,429 14 10 It will be seen that the actual expenditure embraces several items not included in the estimate submitted by my honorable friend. The items I refer to are: — £ s. d. Increase in Moiety of Stamp Duties .. .. .. 5,319 0 2 Advances to Provinces .. .. .. .. 51,500 0 0 Temporary Advance to Trust Fund .. .. .. 20,000 0 0 „ „ Land Fund .. .. .. 184 18 0 And they amount to .. .. £77,003 18 2 If, for the sake of comparison with the estimate, these sums be deducted from the actual expenditure of £1,730,429 14s. 10d., we have a sum of £1,653,425 16s. Bd., and adding thereto the liabilities outstanding on the 30th June, estimated at £55,984 4s. Id., we have an excess of £49,093 6s. 2d. on the estimated expenditure. I will not trouble the Committee with any lengthened remarks on the several items of expenditure; but there are one or two points to which it seems proper to call its attention. There is an excess of expenditure of £14,874 16s. 3d. on the estimates under Permanent Acts, arising out of payments to the amount of £16,905 17s. lid. made under " The Excise Duties Act, 1874,"—an Act which, as the Committee will remember, was passed after the estimates of expenditure for the year had been laid before it. In the class Law and Justice there is also an excess of some £4,400. This excess is however very nearly balanced by a corresponding increase in the judicial revenue. The votes for Postal and Telegraph Services also show an expenditure of £11,300 in excess of the estimate. The excess upon the Postal vote is traceable to two causes : first, to the increased payments made under the contract with the Australasian Steam Navigation Company; and secondly, to the increased use of the Suez Service, owing, no doubt, to the irregularity and subsequent interruption of the San Francisco Service under the Hall-Forbes Contract. The excess on the Telegraph vote is owing to expenses incurred in opening new stations, and to some costly repairs made upon the lines. In the class Miscellaneous there is an apparent saving on the vote for Miscellaneous Services of £13,300. This arises mainly from the Government having made no expenditure on the items "Trigonometrical Survey, £5,000," and "Purchase of Steamer to replace the 'Luna,' £5,000." £500 only of the vote of £1,200 for Steam Launches had been expended up to the 30th June, but the balance will be required when the contract is completed, and that amount has accordingly been reserved for expenditure during the present year. As respects the other items in

Table F, page 27.

Table P>, page 7.

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this class, the Committee will perceive that the sum of £65,000 appropriated out of revenue in aid of Defence Services has been paid in full, and that the £25,000 granted to Road Boards out of revenue, instead of out of loan, as in former years, has been paid in like manner. In the vote for Native Services there is also an excess of expenditure over appropriation, the largest item being that for Native Schools. In making these comparisons between the Appropriations and the Expenditure, I have referred, except in one case, only'to the items in excess. Other items there are which show a saving, and, such as they are, I leave them to speak for themselves. Taking the whole sum appropriated for the year in respect of the several classes, £584,418 Bs. Bd., and comparing it with the expenditure made to the 30th June, plus the sum reserved, £20,604 Bs. 7d., and the estimate of further liabilities chargeable to votes yet to be provided for, £20,000, it will be found that the appropriations as a whole will only have been exceeded by. the sum of £31,632 12s. 4d. I have not referred to the expenditure made for unauthorized services, the total of which, less sums already recovered, amounts, as shown in Table D, to £18,169 15s. 2d. The particulars of this expenditure are given in the table I have just referred to. It will be seen that items amounting to £6,969 17s. Id. are classed as recoverable, and I have accordingly included them in my outstanding assets of the year 1874-75. The moiety of Stamp Duties payable to the Immigration and Public Works Loan Account has amounted to £55,319 os. 2d., instead of £50,000 as estimated, and the total sum has been paid over as required by law. The proposal to pay off £100,000 out of the £500,000 Treasury Bills outstanding on the 30th June, 1874, has also been given effect to. The whole of the bills matured on the Ist November, 1874, and on that date £100,000 of these bills were paid off, and the remaining £400,000 renewed at the rate of 3f d. per cent, per diem (= £5 2s. Bd.) for interest, instead of 3|d. per cent. (=£s 10s. 3d.) as before. The total amount of Treasury Bills now current is therefore £400,000, being £310,000 less than the amount outstanding in 1872. The Committee will no doubt remember that, with a view to provide for considerable sums to be advanced to the provinces, under the Provincial Public Works Advances Act of last Session, power was given to raise the sum of £80,000 by Treasury Bills. The Government has, however, found it unnecessary to exercise that power. The revenue of the year has not only enabled the Government to reduce the floating debt by the sum of £100,000, but it has afforded ample means for making the authorized advances to the provinces, and it has moreover advanced, a sum of £20,000 to the Trust Fund, as against Treasury Bills held by that fund. The total actual expenditure of the year, then, is £1,730,429 14s. 10d., and this sum added to the liabilities "outstanding on the 30th June, amounting to £55,984 4s. Id., makes up an aggregate expenditure for the year of £1,786,413 18s. lid. Deducting this sum from the aggregate revenue of £1,906,860 7s. 9d., we have a surplus of £120,446 Bs. lOd. with which to commence the year 1875-76. I will briefly state, for the information of the Committee, the particulars of the assets and liabilities to which I have just referred. They comprise a sum of £12,000 recoverable from the Imperial Government; £20,000 recoverable from the Trust Fund; a sum of £5,000 advanced to the Emigrant and Colonist's Aid Corporation; £7,030 advanced against the Land Fund of Taranaki, to redeem Volunteer scrip; sundry amounts recoverable from the Provinces, £2,141 17s. lOd.; and £50,185 os. 2d. repayable by the Provinces in respect of advances made to them under "The Provincial Public Works Advances Act, 1874." These several items constitute the assets of the year 1874-75 outstanding on the 30th June last, and they amount to £96,356 18s. Adding this sum to the balance of £80,073 14s. lid. arising out of the actual receipts and payments to the 30th June, and made up of cash in the Bank £64,553 17s. 5d., and advances in the hands of public officers £15,519 17s. 6d., we have a total of £176,430 12s. lid. The liabilities on account of Consolidated Fund outstanding on the 30th June

Table B page 7.

Table D, page 22.

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were—For Interest and Sinking Fund to the 15tli July, £7 10s.; Eeserve Account, £20,604 Bs. 7d.; Balance of Capitation due to the Provinces, £10,372 ss. 6d.; and Miscellaneous Liabilities, £25,000. These items amount to £55,984 4s. Id.; and on deducting them from the sum of £176,430 12s. lid., already referred to, we reproduce the sum of £120,446 Bs. 10d., the ultimate surplus of the year 1874-75. THE SPECIAL FUNDS. Having already dealt with those accounts which make up the main items in the Special Funds—l mean the several Loan Accounts —I shall here remark on one only of the other accounts under this head. I refer to the New Zealand Settlements Act Account, or, as it is more commonly styled, the Confiscated Lands Account. The actual transactions of receipt and payments during the year just closed will he found in the Table Bl; but in order to state the precise position of the account, I will, with the permission of the Committee, summarise the operations of the past two years. The receipts from Confiscated Lands for the two years ended 30th June, 1875, have amounted to £80,826 10s. lid., and the expenditure, after deducting advances, to the amount of £595 12s. lid. outstanding on the 30th June, 1873, has amounted to £94,779 13s. 3d. There has therefore been an excess of expenditure over receipts for the two years to the amount of £13,953 2s. 4d. This deficiency has from time to time been covered by transfers of cash under the power given in "The Appropriation Act, 1872," from the fund provided for land purchases in the North Island. The total of these transfers during the two years has amounted to £20,500, and there is therefore a balance of £6,546 17s. Bd. now at credit of the account. The Expenditure to which I have referred includes, — £ s. d. For Ordinary Services authorized by Parliament.. .. 57,284 19 1 Treasury Bills chargeable hereon, under Act of 1868, redeemed 20,000 0 0 Payments to Provinces .. .. .. .. 11,692 15 4 Land Purchases .. .. .. .. .. 3,650 10 0 Public Works (Bridges, &c.) .. .. ,. # .. 2,151 8 10 J94,779 13 3 A portion of the expenditure made during the past year, and included in the total stated, has been made without the authority of Parliament, and I shall have to ask the Committee to cover it by a vote. The liabilities outstanding on the 30th June, including the sum of £20,500 already referred to, amounted to £51,022 7s. 6d., or after deducting the credit balance to which I have referred, to £44,475 9s. lOd. I believe that the Committee will agree with me that the time has arrived when these lands should become subject to the ordinary Land Laws, and I shall presently submit a proposition upon the subject for the approval of the Committee. THE LAND FUND. With regard to the ordinary Land Revenue, it will be seen that the receipts, amounting for the year to £762,475 Bs., or, including the sales in the North Otago District, £10,790 9s. 9d. credited to the Special Fund, to £773,265 17s. 9d., show a considerable falling off as compared with the receipts of the previous year. This decrease it was reasonable to expect, the quantity of land taken up during the year 1873-74 being evidently disproportionate to the immediate requirements of the settlers. The Government are very anxious that the public estate should be conserved and the proceeds applied to legitimate purposes, such as the payment of the debts secured upon it for local public works, the construction of further local public works, the introduction of immigrants, and, if necessary, in temporary aid of education. In the opinion of the Government, it has become the duty of this House to consider carefully this matter, and to insist that the public estate shall not be sacrificed or dissipated, or the proceeds misapplied. The total receipts from Land Fund, exclusive of gold duty, for the six years ending 30th June, 1875, were as follows :—

Table B (1) page 10.

Table C, page 20.

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£ s. a. 1869-70 .. .. .. 209,623 3 6 1870-71 .. .. .. 208,091 5 0 1871-72 .. .. .. 336,311 0 6 1872-73 .. .. .. 889,642 14 1 1873-74 .. .. .. 1,066,744 7 3 1874-75 .. .. .. 773,265 17 9

THE PUBLIC TEUST FUND. . Table C (1) shows the transactions of the year in the Public Trust Fund Accounts. These accounts call for no special remark, with the exception of the Post Office Savings Bank Account, in respect to which account I must explain that as the operations recorded in the Treasury are only those which represent the lodgments and withdrawals made by the Postmaster-General in and from the Public Account, the figures quoted in the Table do not exhibit the actual result of the year's operations as between the Savings Bank Department and its clients. The reasons for this are matters of book-keeping, and need not be entered upon here. Those operations were as follows: —The total sum deposited during the year was £689,541 4s. 3d., and the total sum withdrawn £730,332 10s. 6d., the excess of withdrawals over deposits amounting to £40,791 6s. 3d. I need not tell the Committee that this circumstance is owing to no diminution in the saving power of the classes by whom the institution is most used, but has without doubt been caused by the unusually high rate of interest lately offered by the Banks for fixed deposits. This opinion is greatly strengthened by the fact that most of the withdrawn accounts were for comparatively large sums. As the Banks have now reverted to more moderate rates, there is every reason to suppose that the deposits will again considerably increase. I have already called attention to a sum of £20,000, advanced temporarily from the Consolidated Fund to the Trust Fundto meet these withdrawals. The Government might, of course, have enlarged the cash balance of the account by the realization of a portion of the Trust Fund securities, amounting on the 30th June last to £698,686 2s. Id. Believing, however, that the unusual draft upon the Savings Bank funds was but temporary, it was considered unadvisable to disturb the investments, and the advance of £20,000 has proved more than sufficient to restore the working balance. The interest received during the year on Trust Funds invested amounts, exclusive of investments on the Government Insurance Account, to £35,521 Is. Id. Out of this sum the interest due to the Savings Bank and other accounts has been fully paid, and the balance, £6,611 6s. 10d., has been transferred as usual to revenue. In concluding my remarks on the Receipts and Expenditure of the past year, I quote, as has been the practice, the value of the Imports of the last year (consumable and nonconsumable), and repeat, for purposes of comparison, the figures given in former years :—

Table C (1) : page 2i.

EXPENDITUEE FOE THE TEAE 1875-76. So far my Statement has been a simple narration of the real facts of our financial position to the end of the year 1874-75. I now come to that part of my subject upon Avhich honorable members will greatly differ in opinion, for the propositions which I am about to submit involve the great question of the abolition of the Provinces. We have, in obedience to what we believe to be the desire of this House and of a large majority of the people of the Colony, prepared

YEAE. Total Value of Imports. Value of Consumable Abticles. Value of NokCONSUMABLE AbTICLES. 1867 1868 1869 1870 1871 1872 1873 1874 £ 6,344,607 4,985,748 4,976,126 4,639,015 4,078,193 5,142,951 6,464,687 8,121,812 £ 4,178,515 3,719,648 3,001,378 3,479,805 3,081,525 3,701,671 4,339,529 5,177,503 £ 1,166,092 1,266,100 1,074,748 1,159,210 996,668 1,441,280 2,125,158 2,944,309

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the Budget upon the assumption that the Provincial form of Government will be abolished throughout New Zealand during the present Session of Parliament. The proposed Expenditure for the current year is as follows: — £ s. d. For Civil List and Permanent Charges ... ... ... 950,175 12 2 For Ordinary Services, — Class I.—Public Departments ... ... ... 74,459 11 9 „ ll.—Law and Justice ... ... ... 65,721 17 0 „ lll.—Postal and Telegraph ... ... ... 222,509 0 0 „ IV.—Customs ... ... • ... ... 57,292 14 6 „ V.—Miscellaneous ... ... ... 43,898 9 2 „ Vl.—Native ... ... 36,191 3 9 „ Vll.—Militia and Volunteers ... ... ... 22,885 0 0 „ Vlll.—Public Domains and Buildings ... ... 23,351 4 0 „ IX.—Eailways open for Traffic... ... ... 244,318 6 1 X.—Armed Constabulary ... ... ... 91,000 0 0 „ XL—Grants to Municipalities and Eoad Boards ... 80,000 0 0 „ Xll.—Provincial Services for eight Months —from Ist November, 1875, to 30th June, 1876 ... 230,322 5 6 Making a total of ... ... ... £2,142,125 3 11 To this must be added— Capitation and Special Allowances to the Provinces for four months ... ... ... ... ... ... 92,275 0 0 Advances under " The Provincial Public "Works Advances Act, 1874" ... ... ... ... ... ... 48,500 0 0 Moiety of Stamp Duties payable to Public "Works Account ... 62,500 0 0 Local Public Works in Out-districts ... ... ... 60,000 0 0 Total Expenditure chargeable on the Consolidated Fund ... £2,405,400 3 11 The Committee will observe that there are four new classes added to the Ordinary Services of the year, upon which it will be necessary for me to make some comment. I take them in the order in which they stand. CLASS IX.—EAILWAYS. Under this head is included the working expenses of the railways under the management of the General Government, and the like expenses for eight months of the railways now under the control of the Provincial authorities. CLASS X.—AEMED CONSTABL TLAEY. Honorable members are aware that the appropriation under the Defence Loan Act for Defence purposes expired on the 30th June last; it has therefore become necessary to make further provision under this head. Last year the House decided that half the sum required for Defence should be borne upon revenue, and, believing that to be an indication of the wish of the House as to the way in which Defence was to be charged in future, the Government have placed upon Consolidated Eund the whole charge of the Armed Constabulary for the current year. I have already shown that there is a sum of £78,751 13s. Bd. still available of the amount voted for Defence under the Loan Act of 1870; and, in addition to the above vote for Armed Constabulary, I shall have to ask for £20,000 for Contingent Defence out of that sum. The Committee will be gratified to observe that there is a considerable reduction as compared with last year upon the amount of the vote. My honorable colleague the Native Minister will give full particulars upon this subject when the estimates come on for discussion. CLASS XL—GEANTS TO MUNICIPALITIES AND EOAD BOAEDS. Under the provisions of the Abolition of Provinces Bill there will become payable to Municipalities and Road Boards, out of the Consolidated Revenue, one pound for one collected upon rates up to one shilling in the pound. These payments will be in addition to the amount payable to Road Boards from Land Revenue. Eor this year, however, the Committee will be asked only to provide for an eight instead of a twelve months' subsidy. Great difficulty

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has been experienced in obtaining accurate information as to the amount collected by ordinary rates in the several Municipalities and Road Board Districts; but it will be tolerably safe to assume that the rates levied during the past year, upon which it is proposed to pay this contribution, were in the Municipalities a little under £55,000, and in the Road Board Districts a little under £50,000. But as our information is not quite reliable, I have thought it better to ask for £80,000 for the eight months, which will certainly cover all eventualities. CLASS XII.—PROVINCIAL SEEVICES FOE EIGHT MONTHS. Believing that Parliament will decide this Session to abolish the Provincial form of Government throughout New Zealand, I have to ask the Committee to make proper provision for carrying on all necessary departments now under the control of the Provincial Governments. This could be done in several ways. I might have submitted to the Committee detailed estimates of all the Provincial Departments, but there are obvious objections to such a course upon first abolishing the Provincial Governments; or I might have asked the House to have permitted the present Provincial Appropriation Acts to remain in force, and to have given authority to continue the services at the same rates for such period as might elapse between the date of the expiry of the several Acts and the 30th June next. But, looking at all the circumstances of the case, the Government have thought it better to ask for the vote in its present shape. The totals are arrived at by taking two-thirds of the amount voted in the last Provincial Appropriation Acts for the services chargeable on ordinary revenue as now existing, but excluding Legislative and Political Executive Departments. The expenditure for Lands and Surveys is, under the Abolition Bill, made a charge upon the Land Fund, and it is proposed to continue to charge against that fund the departmental services for local public works. The advantages of this mode of procedure are apparent. It immediately brings under the knowledge and control of this House the total expenditure required for the services to be taken over, while it insures the continuance of the several departments until the Government have had an opportunity of seeing where and how they may be advantageously consolidated. The Government is anxious to consolidate offices, and to reduce expenditure ; but they will be very careful that no reductions shall be made which will at all impair the efficiency of the public service. Honorable members will also observe that there is a proposed vote for £60,000 for local public works in out-districts. This will enable us to carry out the intentions of the Provincial Governments with regard to many necessary works in districts which have hitherto received but scant justice. Ordinarily these works would be charged upon Land Fund, but this year, in consideration of the possible inequalities incident to the proposed changes, we have thought it fair to charge it on revenue, and it will therefore be in addition to the expenditure provided for out of Land Eund. Before passing on, there is one service, hitherto under provincial control, which I desire specially to mention —and that is Education. It is because the Government recognize the subject as of vital importance and of general—that is, colonial —concern, that they desire to feel their way most carefully before moving in it. Education is now being carried on more or less successfully throughout the colony: the Government desire not to alter until they are satisfied they can improve. Eor the present year, therefore, we propose, as to administration, to leave things practically as they are, seeing, however, that proper provision is made where it is now wanting. The Government are of opinion that Education is properly a charge upon our ordinary income, but, in order to guard against the imposition of an excessive burden upon the Consolidated Eund, it is proposed, for the present year, to ask for authority to defray this charge, if necessary, out of Land Fund. The valuable educational reserves already made in several of the provinces will, of course, remain subject to their present trusts, and reserves of a similar nature will be made in other districts, where practicable. In many parts of the colony there is no proper provision for school buildings. B. 2.-3

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This is a want which should be immediately satisfied. I propose, therefore, to recommend that the sum of £50,000, out of the available balance of the General Purposes Loan s be applied to this purpose. ALLOWANCES TO THE PKOVINCES. During the ensuing four months it is proposed to pay to the provinces the capitation and special allowances at the same rate as last year, except in the case of the extraordinary allowances amounting to £40,000, granted to the Provinces of Auckland, Nelson, and Westland under the Provincial Public Works Advances Act of last Session. The allowances and advances will amount to £140,775, as follows :— £ s. d. Capitation Allowance ... ... 89,458 5 0 Special Allowances ... ... ... 2,816 15 0 92,275 O 0 Payments under Provincial Public Works Advances Act— Auckland ... ... £16,000 0 O Wellington ... ... 5,500 0 0 Nelson ... . ... 23,000 0 0 'Marlborough ... ... 4,000 0 0 48,500 0 0 As respects the sums last named, I should explain that such amounts as may fall due prior to the abolition of the provinces will be paid as hitherto; as respects expenditure on this account after that date, the Government will itself be prepared to make payments for all necessary services. LOAN EXPENDITURE. I will now inform the Committee what is the expenditure which it is proposed to make this year for Public "Works and Services properly chargeable on Loan. I have shown that of the Defence and Other Purposes Loan there is an available balance of £125,315 Is. 4d., less the charges and expenses of raising. A part of this balance I shall ask the Committee to re-appropriate as follows : — £ s. d. For Defence ... ... ... ... 20,000 0 O For payment to the New Zealand Settlements Act Account, to provide for repayment of the sum of £20,500 advanced from the Immigration and Public Works Loan, and to provide for outstanding liabilities ... ... ... ... 45,000 0 0 Total ... ... ... £65,000 0 0 Of the General Purposes Loan there is an available balance of £106,500, also subject to the costs of raising. I shall ask for authority to apply a part of this balance as follows : — £ b. d. For School Buildings ... ... ... 50,000 0 0 For payment to the Immigration and Public Works Loan in aid of the amount appropriated out of that loan for Lighthouses ... ... ... 30,000 0 0 Total ... ... £80,000 0 0 Out of the Immigration and Public Works Loans, I propose to ask for appropriations as follows:— ' £ b. A. ForEailways ... ... ... ... 767,400 0 O „ Immigration ... ... ... ... 392,348 15 8 „ Telegraph Extension ... ... ... 29,700 0 0 „ Public Buildings ... ... ... 75,779 10 9 „ Lighthouses ... ... ... ... 91,700 0 0 „ Public Works Department... ... ... 77,134 14 6 Total ... ... ... £1,434,063 011 The Committee is of course aware that the whole proceeds of the several

Table I, page 38,

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Loans out of which this expenditure is proposed to be made have already been appropriated. The appropriations which I shall ask for are in most cases re-votes for the same service; and details of them will be laid before you in the Annual Estimates.

"WATS AND MEANS. Consolidated Kevenue. I place before you a statement of the estimated and actual revenue for 1874-75, and of the estimated revenue for 1875-76 :—

Great care has been taken in estimating the revenue for the current year. A very moderate increase only has been made in the Customs, when it is remembered that during the year the balance of Immigration over Emigration has been 37,134 souls. The increase shown upon the other items will, I think, be fully realized. The desire has been in no case to over-estimate; and should nothing occur to disturb the prosperity of the country, we may safely anticipate raising at least the amount of revenue I have estimated. There is one very gratifying item in the above estimate which appears for the first time, viz. " Railways." I shall not enlarge upon this subject, as it would rather encroach upon the ground of my honorable colleague the Minister for Public Works ; but I cannot refrain from remarking that its appearance, small as it is at present, opens to my mind the prospect of a great and prosperous future for the colony. I hold that of all the wise acts done by this House, none were wiser or more far-seeing than the retention of our railways in the hands of the State. In respect to the item " Miscellaneous Provincial Revenue," I may state that the amount is based upon the revenue of the current financial year of the several provinces, as estimated by the Provincial Governments. The total of those estimates has been reduced by excluding from each the estimated receipts for auctioneers', publicans', spirit and miscellaneous trading licenses, and the fees for registration of dogs and goats, pound fees, &c., the whole of which it is proposed to hand over to the municipalities ; and I have taken two-thirds of the remaining balance as the probable receipts of the eight months commencing on the Ist of November next, and though I am aware that this estimate may not prove an accurate one, it will no doubt be sufficiently close for all practical purposes. The next item is one as to which it will be desirable that I should give some explanation. It will be remembered that my honorable colleague last Session proposed to purchase from the Province of Otago, that part of the main trunk line of

Revenue 1874-75. Estimated Heads of Receipt. Revenue Estimated. Actual. 1875-76. Customs Duties, Rents, Seizures, &e. „ Bonded Stores „ Fees, Marine Act, including Light Dues ... ~i „ „ Arms Act ... ... ... £ „ „ Sundry Acts ... ... ;.. J Stamp Duties ... Postal Telegraphic Judicial, Fees and Fines Registration of Land ... „ Deeds ... „ Births, Deaths, and Marriages Fees on Issue of Crown Grants ... „ Miscellaneous ... Railways Incidental Receipts Miscellaneous Revenue —Provincial Contributions from Land Fund for Interest on Provincial Loans „ „ for Interest on Cost of Railways completed £ a. d. 1,150,000 0 0 4,400 0 0 £ s. d. 1,223,614 3 2 4,872 10 2 £ a. d. 1,325,000 0 0 5,000 0 0 12,500 0 0 15,095 7 5 16,750 0 0 100,000 0 0 74,000 0 0 55,000. 0 0 28,000 0 0 12,000 0 0 15,000 0 0 4,000 0 0 5,500 0 0 1,200 0 0 110,641 0 3 72,037 0 0 55,552 2 9 32,263 14 10 11,521 7 0 15,833 2 0 4,845 8 3 6,459 16 6 2,188 3 10 125,000 0 0 91,000 0 0 62,000 0 0 32,000 0 0 13,500 0 0 16,750 0 0 5,000 0 0 6,000 0 0 2,700 0 0 294,042 13 4 65,000 0 0 50,114 0 0 118,370 7 7 35,000 0 0 50,079 0 3 127,520 0 0 Totals Add Surplus of Year 1874-75 1,496,600 0 0 1,005,002 16 5 2,355,747 0 11 120,446 8 10 Total 2,476,193 9 9

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railway which had been made out of provincial funds, the proceeds of such sale to be applied to the construction of branch railways: that proposal came to nothing through the Bill which was to authorize the transaction having been lost. The Government have carefully considered the subject during the recess, and have come to the conclusion that they would not be justified in diverting any of the present loan for the construction of branch railways when there is not sufficient to complete the making of the main trunk lines. The Government will submit a Bill to authorize the main trunk lines of railway constructed with provincial funds and other provincial property, which it will be right to take over upon the abolition of the provinces, to be valued; and to provide that the value of such property shall be set against an equivalent amount of provincial debt, which shall thereupon cease to be a charge on such provincial district, and shall henceforth be a charge upon the colony only. Pending the proposed valuation, it has been estimated, for present purposes, that the present worth of the Canterbury lines, less the amount spent by the General Government on Branch Railways, will be, say, in round numbers, £600,000 — and that the value of the Otago lines will be, say, £270,000. Subject, as between the colony and the provincial districts, to these deductions the funded debts of the provinces will remain as at present chargeable on the Land Fund, and the item of £118,370 7s. 7d., now under consideration, represents the amount transferable to the revenue to meet the annual charge on those debts for the eight months. The interest on the present Provincial Debt for four months will be deducted as usual from the capitation. A few words as to the last item in my estimate of revenue, and I shall have finished my remarks on the subject of Ways and Means. The item we have come to is headed " Contribution from Land Fund for Interest on Cost of Railways completed," and the amount set down is £127,520. The House has so often affirmed the propriety of this charge upon the Land Fund that it is unnecessary for me to say anything upon that point, and I only refer to the item in order to state that the amount has been computed on the basis indicated in " The Immigration and Public "Works Act, 1871," and that credit has been given for the estimated excess of receipts over expenses on the working of the lines. I close my remarks on the estimated Revenue and Expenditure of the Consolidated Fund for the year, by stating that the items to which I have referred make up a total Consolidated Revenue for the year of £2,355,747 os. lid. To this sum I add the surplus of £120,446 Bs. lOd. with which we began the year, making a total of £2,476,193 9s. 9d. as our Ways and Means. From that total I deduct the amount of the Expenditure, estimated at £2,405,400 3s. lid., and we have an estimated surplus of £70,793 ss. lOd. LAND FUND. From the peculiar nature of our Constitution, it must be a matter of very great difficulty for persons at a distance to understand our finances, or even to ascertain with any accuracy what yearly revenue we have. It is clear that, if our revenue is to be fairly compared with the revenues of the Australian colonies, the Land Fund should be brought into the Public Account. One considerable item, the rent from Pastoral Leases, amounting to £128,300 per annum, is certainly revenue. The remainder, although treated as revenue in other colonies, has never been so treated in New Zealand. The Provinces, which since 1856 have had the administration of the fund, have endeavoured from the beginning, and in the main fairly, to apply the proceeds of sales of land to their proper uses—public works, immigration, and endowments for education, and other legitimate purposes—and, upon the whole, have succeeded as well as was to be expected. I say "in the main fairly" because it cannot be denied that the existing dissatisfaction with provincial institutions has arisen, in a large measure, from the tendency of Provincial Governments to lay out an undue share of provincial funds in the neighbourhood of the principal provincial towns, or in other favoured districts. There have, moreover, been many instances of lamentable waste of both the estate itself and the proceeds. But no true estimate of the capabilities of the country for bearing its debt, or of the probable use we shall make of borrowed money, can be

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formed without taking into account these significant facts, that our Land Revenue, exclusive of gold duty, has averaged for the last six years £580,613 Is. 4d.; that it has never heen brought into our estimate of revenue; and that at least three-fourths of it has been always applied to local public works, education, and the payments of interest and sinking fund upon Provincial Loans, the proceeds of which have been spent upon local public works. The Land Revenue for the year is estimated at £702,192, and the returns already show that in some cases the Provincial Governments have much under estimated the probable receipts under that head. With regard to the Gold Duty, I may state that the Government has no intention at present of abolishing, or even of reducing, that imposition. The gold mining community are the pioneers of the district to which their pursuit leads them, and their demands for the means of intercommunication are necessarily large and imperative. The Government recognizes the necessity of meeting these demands, and it proposes to apply the whole of the gold revenue, including the export duty, to the maintenance of the roads and public works upon the gold fields. I have, as yet, said nothing about future finance as affecting Public Works and Immigration; it is, however, a subject which has received our careful consideration, and the conclusion to which the Government has come is this: that, considering the position of the colony, the state of the money market, and the large sum out of previous loans yet unexpended and partially unraised, which is still available, provision has been already made as far in advance as is possible. We are of opinion that it would be unwise to again enter the London money market with any new loan for some time to come. We think the duty of the Government now is to concentrate its attention upon careful yet vigorous administration. We propose to extend the expenditure of the funds just mentioned which are still available, amounting to the very considerable sum of £4,010,586 11s. 7d., over a period of two years. This will enable us to go on with the formation of the main trunk lines, immigration, and other important works, such as lighthouses, telegraphs, and public buildings. I will now as shortly as possible put before the Committee the financial effect the proposed changes will have upon the municipalities, road boards, and other public institutions in the Provinces of Auckland and Canterbury. I have selected these two provinces, the one as representing those provinces which are practically unable to perform the duties of governing, and the other as being the most favourably affected by the proposed change. It will be admitted on all sides that the present financial position of the Province of Auckland is a public scandal, and the continuance of such a state of things as now exists there ought not to be permitted. The necessity for a remedy is imperative and immediate. It is for this House to determine what that remedy shall be, and how it can best be applied. The people of Auckland require to be placed in a position of financial independence, and the proposals of the Government will satisfy that demand. The province, as a whole, will be provided with all necessary institutions of a provincial character—its police, gaols, harbours, lunatic asylums, and educational establishments will be provided for out of the revenue of the colony, and its larger public works will also become matters of colonial concern. The cities will receive the revenues arising from auctioneers', publicans', and other licenses for trading, within their boundaries —together with a contribution equivalent to the rates collected up to one shilling in the pound. The out-districts will receive the revenue from publicans and trading licenses within their boundaries, the tolls on roads and bridges, and a contribution equivalent to two pounds for every one collected as rates. Under prudent local management each of these communities can secure its own independence, and it will have an income growing with its growth and adequate to its own wants. The Thames will no longer be governed by or dependent on the city of Auckland, but will have the administration of its own funds. The out-distriets, such as Tauranga, Waikato, and the Bay of Islands, receiving, besides the items of income referred to above, an addition of two pounds for each pound collected by rates, will possess larger and more certain means for improving their several districts than they have ever yet enjoyed. I have no doubt that the City Council of Auckland, with the aid of the

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license fees collected in their city, and a contribution equal in amount to their ordinary rate, could govern themselves without the aid of a Superintendent and Provincial Council. I believe that the citizens of the Thames would accept the same obligation on the same terms, and, as an old country settler, I know well what the outlying districts will say to proposals which give them the means of real local self-government. The proposal which I have explained above with regard to provincial debts when applied to Canterbury, will place that province in an extraordinarily favourable position. Speaking broadly, most of her public debt will be cancelled, leaving her Land Eund free for public- works within the district, besides having all necessary departments of Government carried on as now. Christchurch will obtain what she has so long contended for—the license fees collected in the city—besides the contribution of one pound for one collected by ordinary rates. Now I can easily understand that I may be told I have proved too much. It will be said that if there is money enough to carry on the provincial districts in so satisfactory a manner, there must be money to carry on the Provincial Government ; but this by no means follows, nor, if it did, would it be any answer to the proposal of the Government; for, in the first place, the proposed method of local administration being simpler, will be much less costly and much less wasteful. Secondly, my Statement this evening has, I submit, conclusively proved that the revenues of the colony are amply sufficient to meet all its liabilities, and provide efficient Government. Yet the experience of the last twenty years has shown that with the present Provincial Constitution it has been practically impossible for the General Assembly to distribute the revenue equitably, so as to meet the requirements of the people. As the capabilities of the colony to bear the burden of its debts without undue pressure of taxation is a subject of grave uneasiness to some people, it is perhaps advisable that I should say a few words upon the subject. When all our authorized loans are raised, there will be a yearly charge of £1,035,775 15s. to be met, in addition to the ordinary expenses of Government. This is a large sum: how are we to meet it ? Now, in the first place, it is important to remember that of this sum about £170,000 goes to Sinking Eund. As the Committee is aware, the annual contribution to Sinking Eund of £110,000 is invested in the purchase of our own debentures. The interest upon these purchased debentures —which two years hence will be £70,000 per annum—is regularly paid to the Sinking Eund Commissioners, who again invest it in the purchase of fresh debentures, and so on, continually. The colony is thus constantly becoming more and more its own creditor. In other words our debt is in reality being reduced by an annual contribution of £110,000, added to an existing sum of £1,074,647, and the whole being invested at compound interest; and though, of course, in stating our liabilities generally, no distinction is made between the Sinking Eund as a creditor and any other creditor, for my present purpose the distinction is most material. Secondly, with a population of, say, 358,000, our ordinary revenue is now, in round numbers, £1,605,000. But we may reasonably suppose, considering the sum that will be spent upon immigration, that at the end of two years our population will be at least 406,500. Now, the lowest average of revenue yielded by each member of the population during any one of the last ten years has been £3 lis. lOd. in 1870-71; the annual average for the whole ten years has been £4 ss. l^d. Taking the minimum average of £3 lis. 10d., and applying it to a population of 406,500, we get a sum of £1,460,012, as the minimum ordinary revenue of the year 1876-77. If the average of the ten years were kept up—and this surely is no extravagant supposition—the sum would be £1,730,165. But taking it at the lowest average we have a revenue of £1,460,012, to meet the sum required. Thirdly, the Land Eund of the whole colony for the last ten years has, as I have said, averaged £580,613 Is. 4d. a year. Even if we were to assume a very large diminution in this fund, which I for one am not at all prepared to do, the Committee will see that it still remains a most important security for the public creditor; for under the law as it now exists, the Land Eund is chargeable with no less than £10,500,000, or more than one-half of our total public debt—namely, £500,000, under the Guaranteed Loan of 1856

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£3,500,000 for Provincial debts, and £6,500,000 for Railways ; and this, at five per cent., would produce £525,000, making with the ordinary revenue (taken at the lowest estimate) the annual sum of £1,985,012, this being, as before, without reference to the fact that some £180,000 is in reduction of our debt. Lastly, the Committee need hardly be reminded that a very considerable part of our debt is represented by what is now a substantial and actually realizable asset, —I mean our railways,—which I venture to say, if we were foolish enough to do it, might be disposed of for a very large sum—at the least £8,000,000. Sir, it is of course impossible for me, or any one else, to deny or ignore that, according to that law of vicissitude which seems to govern human affairs, we may, especially after the almost unexampled prosperity of the last five years, have, from time to time, periods of depression. I see no signs of any depression at present; but grant that it may come, and I say still that the facts and figures I have just produced give abundant ground for confidence in our future. In conclusion, I have to thank the Committee for the patience with which it has heard my Statement. In making that Statement I have kept two main objects in view : first, to give a full and intelligible account of our finance ; secondly, to show the bearing upon our finance of the proposed constitutional changes. lam fully aware that even the financial advantages of abolition—and I say nothing of others not less important —are susceptible of far more complete and convincing treatment than they have received at my hands to-night. Indeed, I have assumed that it was my duty rather to indicate than to enlarge upon those advantages. The figures I have adduced do not need much comment. They show beyond doubt that our financial condition is at once sound and prosperous. But whoever reads these figures in the light of a knowledge of our political history must be well aware that there is in our finance a disturbing element which one day might—l had almost said, which, inevitably must, if not soon eliminated—land us in financial disaster. The continued existence of the provinces means the continued and constantly increasing pressure upon the Government and upon this House for money, in the interest of a locality, without any reference to the necessities of the colony as a whole. Ido not for a moment deny the public spirit of the gentlemen administering provincial affairs; I only deplore that this public spirit should be circumscribed by the boundaries of the particular province within which they live. I could easily give instances forcibly illustrating what I have said, and which have occurred within the present month —I might say within the present week—but lam sure they are not needed. It is not necessary that I should prove again what is obvious to every one who will only open his eyes. Last year this House resolved that the time had come when this great danger in our path should be removed. That resolve has been approved by the country ; the Government have now given it form; and it remains only for this Committee and the Legislature to give it effect.

TABLES REFERRED TO. Page A. Debentures and Treasury Bills in circulation, showing Sinking Fund accrued, Balance of Indebtedness, and Annual Charge of General and Provincial Governments ... ... ... ... ... 2 Funded Debt of Colonial and Provincial Governments, and Annual Charge for Interest and Sinking Fund ... 2-3 B- Sums appropriated out of Consolidated Fund for Year 1874-75 ; Recoveries to Credit; Expenditure actuallymade during Year; Votes Exponded or Exceeded; and Amounts Reserved ... ... ... 4-7 (1.) Receipts and Disbursements of Public Account for 1874-75 ... ... ... ... ...8-19 C- Receipts and Expenditure of Land Fund for 1874-75 ... ... ... ... ... ... 20 (1.) Receipts and Expenditure of Public Trust Fund for 1874-75 ... ... ... ... ... 21 D. Unauthorized Expenditure of Consolidated Fund during 1874-75 ... ... ... ... ...22-24 E. Sums appropriated out of Special Funds for Year 1874-75 ; Recoveries to Credit; Actual Expenditure during Year; Votes Expended or Exceeded; and Amounts Reserved ... ... ... ... ...25-26 P- Statement of Accounts with Provinces under " The Payments to Provinces Act, 1872," for 1874-75 ... 27 Q- General Balance Sheet and Summary of Transactions of the Public Account for 1874-75... ... ... 28 H. Statement of Receipts of Consolidated Fund for 1874-75 ... ... ... ... ... ...29-30 (1.) Statement of Revenue from Stamp Duties for 1874-75 ... ... ... ... ... ... 31 (2.) Comparative Return of Customs Revenue for 1873-74 and 1874-75 ... ... ... ... 32 (3.) Return of Gross Customs Revenue for each Quarter from September Quarter, 1863, to June, 1875, inclusive ... ... ... ... ... ... ... ... ... ... 32 (4) Statement of Value of Imports and Exports at each Port for 1874-75 ... ... ... ... 33 (5.) Return of Value of Imports and Exports for each Province, for 1874-75 ... ... ... ... 34 (6.) Return of Quantity of Flour and Grain Imported and Exported for Ten Years ended December, 1874... 34 (7.) Return of Quantity and Value of Gold Exported for Year 1874-75 ... ... ... ... 35 (8.) Return showing Amount and Value of Gold Exported from 1858-59 to 1874-75 ... ... ... 36 (9.) Return showing Quantity and Value of Wool Exported from 1867 to 1874 ... ... ... 37 (10.) Return showing Value of New Zealand Phormium Exported from 1867 to 1874 ... ... ... 38 I. Statement of Capitation and Special Allowances to the several Provinces for 1875-76 ... ... ... 38 X- Return of Value of Imports and Exports of Victoria, New South Wales, and New Zealand, for Eight Years ended December, 1873 ... ... ... ... ... ... ... ... ... 39 L- Return showing Value of Gold, Wool, Grain, &c, Exported from Victoria, New South Wales, and New Zealand, for Seven Years ended December, 1874 ... ... ... ... ... ...40-41

*I—B. 2.

APPENDIX TO FINANCIAL STATEMENT

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Table A. STATEMENT showing the DEBENTURES and TREASURY BILLS in CIRCULATION under the several Loans of the Colonial and Provincial Governments of New Zealand, the Amount of Sinking Fund Accrued, the Balance of Indebtedness, and the Amount of the Annual Charge for Interest and Sinking Fund.

STATEMENT showing the FUNDED DEBT of the Colonial and Provincial Governments of New Zealand severally, and the Annual Charge thereon for Interest and Sinking Fund.

TABLES REFERRED TO IN THE FINANCIAL STATEMENT.

Amount of Debentures in Circulation on June 30, 1875. Annual Charge. Act authorizing the Loan. Sinking Fund accrued to June 30, 1875. Total Debt after deducting Sinking Fund. 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" ... " Consolidated Loan Act, 1867 "... " Immigration and Public Works Loan Act, 1870" ... 11 Defence and Other Purposes Loan Act, 1870" " Immigration and Public Worts Loan Act, 1873" ... "Immigration and Public Works Loan Act, 1874" ... " General Purposes Loan Act, 1873" ... Treasury Bills... " Auckland Loan Act, 1863 " " Wellington Loan Act, 1862 " ... " Wellington Loan Act, 18G6 " ... " Wellington Debts Act, 1871"... " Nelson Waterworks Loan Act, 1864" ... " Lyttelton and Christeliurch Railway Loan Act, 1860" " Canterbury Loan Ordinance, 1862" ... " Westland Loan Act, 1873 " " Otago Loan Ordinance, 1861-2 " " Otago Loan Ordinance, 1862" ... " Otago Public Buildings Loan Ordinance, 1862" ... "North Otago District Public Works Loan Act, 1872 " ... £ b. d. 311 0 0 500,000 0 0 93,100 0 0 1,519,400 0 0 £ s. d. 244,082 12 4 38,584 S 11 236,114 0 3 £ s. d. 311 0 0 255,917 7 8 54,515-16 1 1,283,285 19 0 £ s. d.i 20,000 0 0! 5.586 0 0 76,284 0 0 £ a. d. 5,000 0 0 1,862 0 0 20,508 0 0 £ b. a. 25,000 0 0 7,448 0 0 96,792 0 0 50 0 0 4,610,100 0 0 50 0 0 230,375 0 0 45,331 0 0 275,706 0 0 3,187,900 0 0 [■ 449,100 0 0 8,169,200 0 0 151,161 10 O] 21,0C0 0 0 172,161 10 0 820,300 0 0 40,065 0 0! 6,000 0 0 46,065 0 0 1,500,000 0 0 1,500,000 0 0 67,500 0 0 67,500 0 0 4,000,000 0 0 4,000,000 0 0 180,000 0 0 180,000 0 0 287,000 0 0 400,000 0 0 31,600 0 0 2,000 0 0 13,500 0 0 75,000 0 0 4,476 14 9 2,000 0 0 3,677 12 10 14,520 2 1 287,000 0 0 400,000 0 0 27,123 5 3 13,683 0 0 20,587 10 0 1,896 0 0 160 0 0 1,080 0 0 3,750 0 0 632 0 0 80 0 0 270 0 0 13,683 0 0 20,587 10 0 2,528 0 0 240 0 0 1,350 0 0 3,750 0 0 9,822 7 2 60,479 17 11 14,200 0 0 3,842 8 7 10,357 11 5 1,130 0 0 284 0 0 1,420 0 0 77,700 0 0 23,884 3 6 53,815 16 6 4,662 0 0 1,554 0 0 6,216 0 0 22,800 0 0 50,000 0 0 6,000 0 0 116,700 0 0 13,959 18 4 5,877 0 0 18,763 5 3 8,840 1 8 50,000 0 0 123 0 0 97,936 14 9 1,368 0 0 2,500 0 0 480 0 0 7,002 0 0 228 0 0 180 0 0 1,167 0 0 1,596 0 0 2,500 0 0 660 0 0 8,169 0 0 40,075 0 0 15,765 3 3 24,309 16 9 3,206 0 0 1,202 5 0 4,408 5 0 53,370 0 0 53,370 0 0 2,668 10 0 5,337 0 0 8,005 10 0 Total 17,421,106 0 0 1,074,647 5 1 945,785 15 0 16,346,458 14 11 835,150 10 0 110,635 5 0

Annual Charge. Amount of Debentures in Circulation on June 30,1875. Interest. Sinking Fund. Total. £ a. cl. £ s. a. £ a. d. £ s. d. COIONIAL G-OVEKNMENT :— Ordinance of Legislative Council " New Zealand Loan Act, 1856" " New Zealand Loan Act, 1860 " 11 New Zealand Loan Act, 1863 " " New Zealand Debentures Act, 1864," and Amendment Act, 1865 " " Consolidated Loan Act, 1867 " "Immigration and Public Works Loan Act, 1870" " Immigration and Public Works Loan Act, 1873 " "Immigration and Public Works Loan Act, 1874" " Defence and Other Purposes Loan Act, 1870 "... " General Purposes Loan Act, 1873" ... Treasury Bills " Westland Loan Act, 1873 "... 311 0 0 156,000 0 0 93,100 0 0 1,519,400 0 0 50 0 0 2,062,400 0 0 3,173,245 0 0 1,500,000 0 0 4,000,000 0 0 656,900 0 0 287,000 0 0 400,000 0 0 50,000 0 0 6,240 0 0 5,586 0 0 76,284 0 0 103,042 0 0 150,428 15 0 67,500 0 0 180,000 0 0 31,895 0 0 13,683 0 0 20,587 10 0 2,500 0 0 1,560 0 0 1,862 0 0 20,508 0 0 20,466 0 0 20,853 9 1 7,800 0 C 7,448 0 C 96,792 0 t 123,508 0 C 171,282 4 1 67,600 0 C 180,000 0 C 36,261 0 C 13,683 0 0 20,587 10 0 2,500 0 C 4,366 0 0 Total Colonial Government 13,898,406 0 0 657,746 5 69,615 9 1 727,361 14

3

8.-2

Table A. — continued. STATEMENT showing the Funded Debt of the Colony— continued. Amount of Debentures in Circulation on — June 30, 1875. Jni crest. Annual Charge. Sinking Fund. Annual Charge. Total. Auckland : — " New Zealand Loan Act, 1856 " " Consolidated Loan Act, 1867 " "Defence and Other Purposes Loan Act, 1870" ... "Immigration and Public Works Loan Act, 1870" "Auckland Loan Act, 1863" ... £ s. d. £ 8. d. £ s. d. £ B . a. 90,000 0 0 510,150 0 0 50,000 0 0 4,714 0 0 31,600 0 0 3,600 0 0 25,507 10 0 2,500 0 0 235 14 0 1,896 0 0 900 0 0 5,101 10 0 500 o o; 47 2 9, 632 0 0 4,500 0 0 30,609 0 0 3,000 0 0 282 16 9 2,528 0 0 Total Auckland 686,464 0 0 33,739 4 0 7,180 12 9 40,919 16 9 TaEANAKI : — " Consolidated Loan Act, 1867 " " Defence and Other Purposes Loan Act, 1870 "... 27,000 0 0 6,000 0 0 1,350 0 0 300 0 0 250 0 0 60 0 0 1,600 0 0 360 0 0 Total Taranaki ... 33,000 0 0 1,650 0 0 310 0 0 1,960 0 0 Wellington : — " New Zealand Loan Act, 1856" " Consolidated Loan Act, 1867 " " Defence and Other Purposes Loan Act, 1870" ... " Immigration and Public Works Loan Act, 1870 " " Wellington Loan Act, 1862 " " Wellington Loan Act, 1866 " " Wellington Debts Act, 1871" 27,000 0 0 180,403 0 0 17,000 0 0 9,941 0 0 2,000 0 0 10,327 10 0 75,000 0 0 1,080 0 0 9,020 3 0 850 0 0 497 1 1 160 0 0 826 4 0 3,750 0 0 270 0 0 1,334 0 7 170 0 0 99 8 2 80 0 0 206 11 0 1,350 0 0 10,354. 3 7 1,020 0 0 696 9 3 240 0 0 1,032 15 0 3,750 0 0 Total Wellington 321,671 10 0 16,183 8 1 2,159 19 9 18,343 7 10 Hawke's Bay : — "New Zealand Loan Act, 1856" " Consolidated Loan Act, 1867 " " Wellington Loan Act, 1866 " 27,000 0 0 83,147 0 0 3,172 10 0 1,080 0 0 4,157 7 0 253 16 0 270 0 0 831 9 5 63 9 0 1,350 0 0 4,988 16 5 317 5 0 Total Hawke's Bay 113,319 10 0 5,491 3 0 1,164 18 5 6,656 1 5 Nelson : — " New Zealand Loan Act, 1856 " " Consolidated Loan Act, 1867 " " Nelson Waterworks Loan Act, 1864 "... 37,484 0 0 33,021 7 7 14,200 0 0 1,490 7 2 1,699 1 5 1,136 0 0 374 16 10 278 4 3 284 0 0 1,874 4 0 1,877 5 8 1,420 0 0 Total Nelson ... 84,705 7 7 4,234 8 7 937 1 1 5,171 9 8 Mablboeough : — "New Zealand Loan Act, 1856" " Consolidated Loan Act, 1867 " 7,516 0 0 7,878 12 5 300 12 10 393 18 7 75 3 2 78 15 9 375 16 0 472 14 4 Total Harlborough. 15,394 12 5 694 11 5, 153 18 11 848 10 4 Canterbury : — " New Zealand Loan Act, 1856 " " Consolidated Loan Act, 1867 " " Lyttelton and Christchurcb. Kailway Loan Act, I860"... " Canterbury Loan Act, 1862 " 51,230 15 5 561,680 15 4 2,049 4 7 28,084 0 9 512 6 2 5,616 16 2 2,561 10 9 33,700 16 11 53,792 6 2 15,784 12 4 3,227 10 9 947 1 6 1,075 16 11 157 16 11 4,303 7 8 1,104 18 5 Total Canterbury 682,488 9 3 34,307 17 7 7,362 16 2 41,670 13 9 Westland : — " New Zealand Loan Act, 1856 " " Consolidated Loan Act, 1867 " " Lyttelton and Christchurcb. Railway Loan Act, 1860" " Canterbury Loan Act 1862 " 22,769 4 7 153,369 4 8 910 15 5 7,668 9 3 227 13 10 1,533 13 10 1,138 9 3 9,202 3 1 23,907 13 10 7,015 7 8 1,434 9 3 420 18 6 478 3 1 70 3 1 1,912 12 4 491 1 7 Total Westland... 207,061 10 9 10,434 12 5 2,309 13 10 12,744 6 3 Otago : — "New Zealand Loan Act, 1856" " Consolidated Loan Act, 1867 " " Defence and Other Purposes Loan Act, 1870" ... " North Otago District Public Works Loan Act, 1872" ... ... ... • ... " Otago Loan Ordinance, 1861-62 " " Otago Loan Ordinance, 1862" " Otago Public Buildings Loan Ordinance, 1862 " 81,000 0 0 991,050 0 0 90,400 0 0 53,370 0 0 6,000 0 0 116,700 0 0 40,075 0 0 3,240 0 0 49,552 10 0 4,520 0 0 810 0 0 9,840 10 0 904 0 0 5,337 0 0 180 0 0 1,167 0 0 1,202 5 0 4,050 0 0 59,393 0 0 5,424 0 0 8,005 10 0 660 0 0 8,169 0 0 4,408 5 0 2,668 10 0 480 0 0 7,002 0 0 3,206 0 0 Total Otago 1,378,595 0 0 70,669 0 0 19,440 15 0 90,109 15 0 SUMMABT : — Colonial Government ... Provincial Grovernments 13,898,406 0 0 3,522,700 0 0 657,746 5 0 177,404 5 0 60,615 9 1 41,019 15 11 727,361 14 1 218,424 0 11 ■ Total ... 17,421,106 0 0 835,150 10 0 110,635 5 0 945,785 15 O

8.-2.

Table B. STATEMENT showing the SUMS APPROPRIATED out of the CONSOLIDATED FUND, for the Financial Year 1874-75; the RECOVERIES to CREDIT: the EXPENDITURE actually made during the Year; the VOTES EXPENDED or EXCEEDED; and the AMOUNTS RESERVED.

4

Authorized. Actual Expenditure. Amount Unexpended. Expended in Excess. Amount Reserved. H H Estimates. Credits. Total. LIABILITIES AND ENGAGEMENTS. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Reserve Account ... 34,499 9 3 34,499 9 3 28,809 3 4 5,690 5 11 Civil List i— Division II. 764 5 4 764 5 4 Permanent Chakges :—• Interest and Sinking Fund Under Acts of the General Assembly 278,300 15 3 460 14 11 67 7 1 .278,761 10 2 67 7 1 277,491 12 4 4,831 1 10 1,269 17 10 4,763 14 9 1 2 3 5 0 7 8 9 10 11 12 13 14 IS Hi 18 1!) 20 21 22 Appropriations :— Vote I.,— Liabilities and Engagements, 30th Juno, 1874, — Electoral ... ... ... ... 1,000 0 0 Secretary for Crown Lands ... ... 50 0 0 Supreme Court ... ... ... 160 0 0 District Courts ... ... ... 120 0 0 Resident Magistrates'Courts... ... 1C0 O 0 Petty Sessions Courts ... ... 30 0 0 Criminal Prosecutions ... ... 220 0 0 Justices of the Peace Act ... ... 70 0 0 Coroners ... ... ... ... 300 0 0 Lunatics ... ... ... ... 120 0 0 Jurors ... ... ... .., 500 Law and Justice, Contingencies ... 650 0 0 Land Transfer Department ... ... 340 0 0 Deeds Registry „ ... ... 370 0 0 Postal „ ... ... 3,000 0 0 Telegraph „ ... ... 2,500 0 0 Customs „ ... ... 100 0 0 Marine „ ... ... 820 0 0 Native „ ... ... 1,000 0 0 Miscellaneous ... ... ... 1,050 0 0 Public Buildings ... ... ... 1,580 0 0 Ministerial .Residence ... ... 900 0 0 0 13 10 13 6 5 5 0 1,158 10 3 28 15 8 151 3 0 136 19 6 217 17 8 44 14 4 245 18 6 101 15 9 339 18 3 107 2 0 14 0 833 2 1 394 10 8 430 4 3 6,827 18 0 2,416 4 11 391 7 0 173 1 5 1,842 1 5 3,563 0 0 2,0 J2 4 3 312 6 9 15,145 0 0 0 10 0 16,064 2 2 5,695 17 6 • •< 520 14 4 7 10 0 35 0 614 2 6 35 0 11 299 1 7 Unauthorized 4,905 0 0 4,905 0 0 4,905 0 0 Payments to Provinces' 5,113 1 10 5,113 1 10 5,113 1 10 Tolal Liabilities 337,963 6 4 1,447 4 2 11,223 17 7 339,410 10 6 338,769 4 4 11,805 3 9

5

8.—2

Table 13 continued. STATEMENT showing tlio Expenditure Estimated, &c. — continued. o o Authoeized. Actual expendituee. Amount Unexpended. Expended in Excess. Amount Reserved. ATES. Credits. Total. FINANCIAL TEAK 1874-75. £ e. d. £ s. d. £ s. d. £ s. 4 £ s. d. £ s. d. £ s. d. Cirri, List. 5,000 0 0 7,700 0 0 10,050 0 0 5,000 0 0 7,700 0 0 10,050 0 0 Division I.: — Governor Judges ... Establishment of General Government Division II.: — Native Purposes ... 4,965 14 5 7,379 8 8 9,878 6 10 34 5 7 320 11 4 171 13 2 7,000 0 0 7,000 0 0 6,074 1 4 925 18 8 Total Civil List 29,750 0 0 29,750 0 0 28,297 11 3 1,452 8 9 Permanent Chabges. Interest and Sinking Fund :— Colonial Charges ... ... ... ,,, Provincial Charges Under Acts of the General Assembly: — Colonial Charges ... Provincial Charges 582,130 4 9 213,486 0 0 5,813 10 8 687,943 15 5 213,486 0 0 289,773 8 1 190,277 5 5 298,170 7 4 23,208 14, 7 32,826 18 8 1,832 16 7 34,659 15 3 49,534 11 6 531 11 0 14,874 16 3 531 11 0 Total Permanent Charges 828,443 3 5 7,640 7 3 836,089 10 8 530,116 16 0 321,379 1 11 15,406 7 3 Appbopeiations. a 8 4 5 7 8 9 Class I.—Public Depabtments :— Legislative Department Executive Stamp ... ... ... ... . ... Printing ... ... Store Geological and Meteorological Electoral Secret arv for Crown Lands 30,058 2 0 16,815 10 0 3,955 0 0 9,670 1G 0 535 0 0 3,216 0 0 3,535 0 0 J,914 15 0 23 11 1 34 0 4 21 0 5 503 13 10 30,081 13 1 16,849 10 4 3,976 0 5 10,174 9 10 535 0 0 3,216 0 0 3,535 7 0 1,915 5 0 25,430 4 8 17,030 5 2 3,501 15 6 11,192 14 10 535 0 0 3,226 1 9 3,360 15 6 1,757 11 9 4,651 8 5 474 4 11 180 14 10 1,018 5 0 50 0 0 400 0 0 0 7 0 0 10 0 174 11 6 157 13 3 10 1 9 174 11 6 25 5 6 Total Class I. ... 69.700 3 0 583 2 8 70,283 5 8 60,031 9 2 5,457 18 1 1.209 1 7 649 17 0 10 Jl 12 ia 14 15 Class II. —Law and Justice: — Department of Justice Crown Law Office Supreme Court District Courts Resident Magistrates' Courts Petty Sessions Courts Criminal Prosecutions 1,168 0 0 ],160 0 0 7,275 0 0 5,710 0 0 20,281 2 0 350 0 0 5,300 0 0 47 0 11 1,168 0 0 5,160 0 0 7,322 0 11 5,710 0 0 20,350 17 10 350 0 0 5,315 15 0 1,163 0 0 1,000 0 0 7,070 17 10 5,863 8 4 20,463 8 11 384 3 3 5,410 15 8 100 0 0 348 16 11 153 8 4 112 11 1 34 3 3 95 0 8 69 15 10 is is o Carried forward 41,376 13 9 41,244 2 0 132 11 9 42,020 14 0 100 0 0 744 0 3

8.—2

6

Tclble 13— continued. STATEMENT showing the Expenditube Estimated, &e. — continued. Authorized. ft Actual Expenditure. Amount Unexpended. Expended in Excess. Amount Reserved. Estimates. Credits. Total. 17 18 19 20 21 22 23 Brought forward Justices of the Peace Act ... Coroners Act Lunatics Act Juries Act Law and Justice, Contingencies Land Transfer Department Deeds Registry ... £ s. d. 41,241 2 0 500 0 0 1,200 0 0 400 0 0 700 0 0 1,500 0 0 8,825 0 0 8,530 0 0 £ b. d. 132 11 9 5 8 0 2 2 0 £ s. A. 41,376 13 9 500 0 0 1,205 8 0 402 2 0 700 0 0 1,500 0 0 8,830 12 11 8,543 15 0 £ s. d. 42,020 14 0 1,093 6 8 2,000 15 6 510 16 6 955 13 0 2,528 3 4 8,749 15 8 9,379 15 7 £ s. d. 100 0 0 £ s. d. 744 0 3 593 6 8 855 7 6 108 14 6 255 13 0 1,028 3 4 £ s. d. "i 12 11 13 15 0 80 17 3 80 17 3 836 0 7 Total Class II.... 62,899 2 0 159 9 8' 63,058 11 8 67,299 0 3 180 17 3 4,421 5 10 80 17 3 24 25 Class III. —Postal and Telegraph :— Postal Department Telegraph ... ,., 114,181 10 0 58,215 0 0 553 6 6 216 19 4 114,734 16 6 58,461 19 4 120,268 4 4 64,247 19 2 5,533 7 10 5,785 19 10 Total Class III. 172,396 10 0 800 5 10 173,106 15 10 184,516 3 6 11,319 7 8 26 27 Class IV. —Customs Department: — Customs Department Marine ... 40,597 17 2 11,385 0 0 87 0 6 77 13 10 40,684 17 8 11,462 13 10 39,288 19 0 9,832 9 5 1,395 18 8 1,630 4 5 250 0 0 1,630 4 5 Total Class IV. 51,982 17 2 164 14 4 52,147 11 1; 49,121 8 5 3,026 3 1 1,880 4 5 80 32 88 Class V. —Miscellaneous i— Miscellaneous and Temporary Objects Exchange and Commission Contribution to Defence Expenditure Contribution to Road Board Grant ... Special Allowances to Officers of Civil Service Provincial Charges, Otago ... 48,535 5 0 2,000 0 0 65,000 0 0 25,000 0 0 15,000 0 0 160 0 0 814 19 9 49,350 4 9 2,000 0 0 65,000 0 0 25,000 0 0 15,073 7 6 160 0 0 36,018 12 8 2,455 5 4 65,000 0 0 25,000 0 0 16,808 4 10 160 0 0 13,331 12 1 455 5 4 9,912 19 0 73 7 G 1,734 17 4 Total, Class V. 155,695 5 0 888 7 3 156,583 12 3 145,442 2 10 13,331 12 1 2,190 2 8 9,912 19 0 36 88 89 i « Class VI. —Native:— Salaries of European and Native Officers i General Contingencies Native Schools Native Lands Court " Native Lands Fraud Prevention Act" Wairarapa 5 per cent. Land Purchase Account 15,476 0 0 8,700 0 0 6,000 0 0 1,175 0 0 400 0 0 300 0 0 30 10 0 119 2 6 492 8 2 15,506 10 0 8,819 2 6 6,492 8 2 1,175 0 0 400 0 0 300 0 0 13,627 1 3 11,087 6 4 8,803 19 6 1,175 0 0 424 2 10 1,879 8 9 2,268 3 10 2,311 11 4 1,879 8 9 300 0 0 24 2 10 300 0 0 Total, Class VI. 2,179 8 9 2,179 8 9 32,051 0 0 642 0 8 32,693 0 8 35,117 9 11 4,603 18 0

7

8.—2

Table B continued. STATEMENT showing the Expendi-tithe Estimated, &e. — continued. Authorized. ° » 2il> Actual Expenditure. Amount Unexpended. Expended in Excess. Amount Reserved. Estimated. Cbedits. Total. 40 41 12 43 Class VII. —Militia and Yolunteees :— Militia and Volunteer Ofllco Store Department Militia and Volunteers —North Island Do. do. —South Island £ a. A. 300 0 0 2,950 12 6 13,350 7 6 7,401 7 6 £ s. a. 9 0 0 49 10 0 4 6 0 £ s. a. 300 0 0 2,959 12 6 13,399 17 6 7,405 13 6 £ 8. A. 300 0 0 2,981 1 11 8,660 16 10 6,197 4 5 £ s. a. 4,739 0 8 1,208 9 1 £ s. d. 21 9 5 £ s. a. 2,739 0 8 708 9 1 Total, Class VII. 24,002 7 6 62 16 0 24,065 3 6 18,139 3 2 5,947 9 9 21 9 5 3,417 9 9 A 1 15 46 17 Class VIII. —Public Domains and Buildings': — Government Domains ... Public Buildings ... Museum Office of the Colonial Architect 1,191 4 0 12,850 0 0 500 0 0 1,150 0 0 394 11 0 1,191 4 0 13,244 11 0 500 0 0 1,150 0 0 1,085 14 3 10,896 8 4 500 0 0 1,150 0 0 105 9 9 2,348 2 8 105 9 9 2,348 2 8 Total, Class VIII. 15,691 4 0 394 11 0 16,085 15 0 : 13,632 2 7 2,453 12 5 2,453 12 5 SUMMARY. Financial Yeae, 1874-75— Civil List Permanent Charges Appropriations, — Class I.—Public Departments ,, II. —Law and justice „ III. —Postal and Telegraph „ IV. —Customs Department ,, V. —Miscellaneous VI.—Native „ VII. —Militia and Volunteers ,, VIII. —Public Domains and Buildings 29,750 0 0 828,413 3 5 69,700 3 0 62,899 2 0 172,396 10 0 51,982 17 2 155,695 5 0 32,051 0 0 24,002 7 6 15,691 4 0 7,646 7 3 583 2 8 159 9 8 800 5 10 164 14 4 888 7 3 642 0 8 62 16 0 394 11 0 29,750 0- 0 836,089 10 8 70,283 5 8 63,058 11 8 173,196 15 10 52,147 11 6 156,583 12 3 32,693 0 8 24,065 3 6 16,085 15 0 28,297 11 3 530,116 10 0 66,034 9 2 67,299 0 3 184,516 3 6 49,121 8 5 145,442 2 10 35,117 9 11 18,139 3 2 13,632 2 7 1,452 8 9 321,379 1 11 5,457 18 1 180 17 3 15,406 7 3 1,209 1 7 4,421 5 10 11,319 7 8 649 17 0 80 17 3 3,026 3 1 13,331 12 1 2,179 8 9 5,947 9 9 2,453 12 5 2,190 2 8 4,603 18 0 21 9 5 1,880 4 5 9,912 19 0 2,179 8 9 3,447 9 9 2,453 12 5 Totals 1,442,611 12 1 11,341 14 8 1,453,953 6 9 1,137,716 7 1 355,408 12 1 39,171 12 5 20,604 8 7

8.—2

8

Table DR. BALANCE SHEET of RECEIPTS and DISBURSEMENTS of the

EECEIPTS. £ s. d. £ s. d. £ s. d. lonsolidated Fund :— On account of Previous Years, — From Provinces on account of Balances at Debit of Capitation Account on 30 June, 1874 On account of Unauthorized Expenditure of 1873-74 Sale of Telegraph Offices, &c. ... 313 5 1 15,168 5 5 38 11 3 Receipts in Reduction of Expenditure,— Charges of the Public Debt ... Charges under Permanent Acts i Appropriations 15,520 1 9 460 14 11 67 7 1 919 2 2 Total on account of Previous Years 1,447 4 2 16,067 5 11 Financial Year, 1874-75,— Ordinary Revenue, — Customs ... ... ... . ... Stamp Duties Postal Telegraphic Judicial Fees and Fines Registration and other Fees ... Incidental Receipts... ... ... 1,243,582 0 9 110,641 0 3 72,037 0 0 55,552 2 9 32,263 14 10 40,847 17 7 50,079 0 3 1,605,002 16 5 Receipts in Reduction of Expenditure, — Charges of the Public Debt ... ... £5,813 10 8 Charges under Permanent Acts ... 1,832 16 7 Appropriations ... ... ... 3,695 7 5 Services unprovided for Payments to Provinces Recovery from Province of Auckland on account of Advances under " Provincial Public Works Advances Act, 1874'' ... 11,341 14 8 6,106 7 0 1,869 9 7 1,314 19 10 20,632 11 1 Treasury Bills renewed Temporary Advance to Immigration and Public Worts Loan repaid 400,000 0 0 150,000 0 0 2,175,635 7 6 i Total Receipts 2,192,602 13 5 Balance on 30th June, 1874, — Cash in the Public Account ... Imprests unaccounted for, — Colonial Foreign ... 357,587 3 3 18,U9 8 1 1,506 0 5 19,715 8 6 377,302 11 9 Total Consolidated Fund 2,569,905 5 2

9

8.—2

B (1) PUBLIC ACCOUNT for the FINANCIAL YEAR 1871-75. CR.

£ £ s. d. £ b. d. DISBURSEMENTS. Consolidated Fund :— Liabilities of 1873-74,— Colonial Charges, — Civil List ... Charges of the Public Debt ... Charges under Permanent Acts Reserve Account Appropriations ... ... ... £21,759 19 8 Less unauthorized ... ... 5,695 17 6 764 5 4 277,491 12 4 4,831 1 10 28,809 3 4 16,064 2 2 333,656 2 6 Unauthorized, — In excess of Votes ... 5,695 17 6 Provincial Charges,—■ Payments to Provinces 5,113 1 10 Total on account of Liabilities ... ... 338,769 4 4 Financial Year 1874-75,— Colonial Charges,— Civil List ... Charges of the Public Debt ... Charges under Permanent Acts Appropriation!!,— Class I.—Public Departments ... £66,034 9 2 II.—Law and Justice ... 67,299 0 3 III.—Postal and Telegraphic ... 184,516 3 6 IV.—Customs Department ... 49,121 8 5 V.—Miscellaneous ... ... 145,282 2 10 VI.—Native ... ... 35,117 9 11 VII.—Militia and Volunteers ... 18,139 3 2 VIII.—Public Domains and Buildings 13,632 2 7 28,297 11 3 289,773 8 1 49,534 11 6 £579,141 19 10 Less unauthorized ... ... 23,765 5 2 Refunds of Revenue Unauthorized, — In excess of Votes ... ... £23,765 5 2 For services not provided for ... 24,196 9 9 555,376 14 8 2,919 6 2 47,961 14 11 Treasury Bills redeemed Moiety of Stamp Duties transferred to Immigration and Public Works Loan Transfer to Immigration and Public Works Loan to provide for Interest and Sinking Fund payable in London, to 15 July, 1875 973,863 G 7 500,000 0 0 55,319 0 2 277,163 4 7 Temporary Advances, — Trust Fund Land Fund, Auckland 20,000 0 0 184 18 0 20,181 18 0 Provincial Charges,— Charges of the Public Debt ... Charges under Permanent Acts Appropriations Payments to Provinces of Capitation and Special Allowances Advances to Provinces under " Provincial Public Works Advances Act, 1874" 190,277 5 5 531 11 0 160 0 0 82,063 0 2 51,500 0 0 324,531 16 7 2,151,002 5 11 Total Disbursements ... 2,489,831 10 3 Balance on 30th June, 1875, — Cash in tho Public Account ... Advances to be accounted for, — Colonial... Foreign... ... ... ... ... ./. 14,575 9 0 944 8 6 64,553 17 5 15,519 17 G 80,073 14 11 Total Consolidated Fund 2,569,905 5 2 *2—B. 2.

10

8.—2

Table DR. BALANCE SHEET of RECEIPTS and DISBURSEMENTS of the

RECEIPTS. £ b. d. £ s. d. £ s. d. Ipecial Funds :— " New Zealand Settlements Acts, 1863-66," — Land Sales ... Rents, Licenses, &c. ... 17,733 11 0 417 9 9 18,151 0 9 60 17 4 Credits to Votes Temporary Advances from Immigration and Public Works Loan 15,500 0 0 33,711 18 1 r Total Receipts 33,711 18 1 Balance on 30th June, 1874, — Cash in the Public Account ... Advances to be accounted for 3,308 17 7 395 15 5 3,704 13 0 £37,416 11 1 " Consolidated Loan Act, 1867,"— Sales of Debentures, including Interest accrued thereon Recoveries, — Hawke's Bay,— Balanco of £245 Is. Id. due in respect of Charges, &c, attending conversion of Wellington Debentures in 1868-69 84,400 0 0 Otago,— Refund in respect of payments for Redemption of Debentures of Otago Harbour Loan of 1862 £1,200 0 0 Balance of charges and expenses on redemption of Provincial Bonds ... 18115 10 122 15 8 1,381 15 10 Total Receipts 1,50* 11 (i 85,904 11 6 Balance on 30th June, 1874, — Cash in the Public Account Advances to be accounted for ... 3,068 18 10 2,101 3 0 5,170 1 10 £01,074 13 4

11

8.—2,

X5 (1) — continued. PUBLIC ACCOUNT for the Financial Teak, 1874-75. Cb. DISBURSEMENTS. £ s. d. £ s. d. £ s. d. Special Funds :— " New Zealand Settlements Acts, 1863-66," — Management and Surrey of Confiscated Lands, — Liabilities, — Salaries ... Surveys ... Compensation Awards Conveyance of Mails Miscellaneous 45 16 8 237 17 7 50 0 0 250 0 0 533 19 1 Current Year, — Auckland, — Salaries... ... ... ... £561 18 4 Surveys... ... ... ... 1,585 13 2 Contingencies ... ... ... 605 2 10 1,117 13 4 2,752 14 4 1,408 14 1 East Coast Surveys ... Taranaki and Wellington,— Salaries... ... ... ... £1,925 8 9 Surveys... ... ... ... 785 15 6 Contingencies ... ... ... 374 15 5 3,085 19 8 7,633 11 4 Settlement of Claims and Awards Proportion of Subsidy for Overland Mails, — Tauranga and Taupo Taupo and Napier Wellington and New Plymouth Foxton and Waipukurau ... 14,880 19 5 750 0 0 562 10 0 1,500 0 0 675 0 0 3,487 10 0 Less unauthorized 18,368 9 5 3,633 12 1 Compensation Refunds of Revenue ... 14,734 17 4 72 7 6 8 0 0 Unauthorized, — In excess of Appropriation Services not provided for, — One-fourth of proceeds of Land Sales, — Auckland ... ... ... £3,152 19 0 Taranaki ... ... ... 3,209 18 4 Wellington ... ... ... 163 6 8 Hawke's Bay ... ... ... 340 12 6 3,633 12 1 6,866 16 fi Patea School Committee ... ... 700 0 0 Approaches to Waitotara Bridge Purchase of Land ... Supplies for Natives 7,566 16 6 20 0 0 3,670 10 0 45 16 8 11,303 3 2 Total Disbursements ... 14,936 15 3 Balance on 30th June, 1875, — Cash in the Public Account Advances to be accounted for 30,869 13 5 856 12 11 5,690 4 9 6,546 17 8 ... £37,416 11 1 " Consolidated Loan Act, 1867," — Otago, — Redemption of Debentures, — " Otago Loan Ordinance, 1861-62 " " Otago Harbour Loan Ordinance, 1862'' ... 40,050 0 0 39,350 0 0 Charges and Expenses Accrued Interest on Debentures from 15th July to 29th September, 1874, transferred to Consolidated Fund ... 79,400 0 0 188 15 10 832 17 6 Total Disbursements ... 80,421 13 4 Balance on 30th June, 1875,— Cash in the Public Account ... Advances to be accounted for 8,551 17 0 2,101 3 0 10,653 0 0 £91,074 13 4

8.—2

12

Table DR. BALANCE SHEET of RECEIPTS and DISBURSEMENTS of the

RECEIPTS. £ b. d. £ s. d. £ s. d. Ipecial Funds :— "Defence and Otheb Pfefoses Loan Act, 1870," — Sales of Debentures ... Recoveries to credit of Votes, — Armed Constabulary Miscellaneous Contingent Defence and Liabilities 14,871 9 6 406 9 8 5,329 4 4 12,000 0 0 20,607 3 6 Contribution from Consolidated Fund, under Section 5 of " The Appropriation Act, 1874 " Temporary Advance by Bank of New Zealand 65,000 0 0 50,000 0 0 147,607 3 6 Total Receipts Balance on 30th June, 1874, — Cash in the Public Account ... Advances to be accounted for, — Colonial Foreign ... 41,265 2 2 147,607 3 6 3,484 17 0 90 G 9 3,581 3 9 41,8-10 5 11 £192,453 9 5 Immigration and Public Wobks Loans, 1870-74, — Sales of Debentures Sales of Allotments Interest on Credit Balances of New Zealand Public Account, London, &c. ... ... ... Moiety of Stamp Duties transferred from Consolidated Fund Recoveries in Reduction of Expenditure,— Public Works Department Railways,— North Island ... ... ... £52,812 15 8 Middle Island ... ... ... 85,639 17 10 General Account... ... ... 94,275 19 3 Surveys ... ... ... 41 17 0 3,847,409 0 0 233 17 0 5,256 17 4 55,319 0 2 1,054 9 2 Immigration ... ... ... < Roads, North Island Purchase of Lands, North Island Water Supply on Gold Fields Telegraph Extension Grey mouth Protection Works Charges and Expenses of raising Loan I 232,770 9 9 42,177 4 7 27,016 17 8 1,549 8 4 261 2 11 582 2 1 750 0 0 10 0 Transfer from General Purposes Loan, in repayment of Interest and Sinking Fund paid in 1871-73 306,192 14 6 113,500 0 0 Advances from Consolidated Fund to meet payment of Interest and Sinking Fund due in London to 15th July, 1875 Temporary Advances, Bank of England ... Drafts on Crown Agents 277,163 4 7 890,000 0 0 1,150,000 0 0 4,357,971 9 6 ... 2,317,163 4 7 Carried forward 6,675,134 14 1

13

8.—2

B (1) — continued. ■UBLIC ACCOUNT for the Financial Tear, 1874-75. Ce. DISBURSEMENTS. £ s. d. £ s. d. £ s. d. Special Funds ;— "Defence and Othee Purposes Loan Act, 1870"— Reserve Account, — Armed Constabulary Miscellaneous Contingent Defence, &c. 3,662 0 2 9,061 1 10 3,393 3 3 16,116 5 3 Financial Year 1874-75, — Defence Office ... ... ... £1,166 6 9 Less, in excess of appropriation ... 91 6 9 Armed Constabulary Miscellaneous ... ... ... £15,855 2 1 Less, in excess of appropriation ... 748 12 5 1,075 0 0 101,601 16 1 Steamer "Luna" ... ... ... 3,995 0 8 Less, in excess of appropriation ... 495 0 8 15,106 9 8 Contingent Defence ... Unauthorized, — In excess of appropriations,—■ Defence Office ... ... ... £91 6 9 Miscellaneous ... ... ... 748 12 5 Steamer "Luna" ... ... 495 0 8 3,500 0 0 18,278 13 9 1,334 19 10 Total Disbursements ... 140,896 19 4 Balance on 30th June, 1875, — Cash in the Public Account ... Advances to be accounted for... 157,013 4 7 24,860 5 4 10,579 19 6 35,440 4 10 £192,453 9 5 Immigration and Public Works Loans, 1870-74, — Railways,—■ North Island ... ... ... £635,009 8 0 Middle Island ... ... ... 1,250,605 13 11 General Account ... ... ... 197,419 9 8 Surveys ... ... ... ... 2,775 10 3 Lines opened for Traffic, — Balances transferred to new account... 1,171 17 9 Less, in excess of Appropriations 2,086,981 19 7 25,089 8 6 Immigration,— Agent-General's Department ... £12,756 12 8 Introduction and Location of Immigrants, &c. ... ... ... 636,884 13 8 2,061,892 11 1 I Less, in excess of Appropriations 649,641 6 4 76,287 10 3 573,353 16 1 99,262 19 6 Roads, North Island ... Purchaso of Lands, North Island .... Advances to Native Lands Acts Account 114,254 14 4 8,000 0 0 Water Supply on Gold Fields ... Aids to Works on Gold Fields ... Telegraph Extension ... Lighthouses ... Public Works,— Head Office ... ... ... £19,477 0 6 Store Department ... ... ... 535 0 0 Agent-General's Department... ... 808 8 10 122,254 14 4 110,797 5 0 15,000 O 0 61,746 15 3 428 7 6 20,820 9 4 276,237 19 8 Charges and Expenses of raising Loans ... Salaries under section 93 of "The Immigration and Public Works Act, 1870" ... Prospecting for Coal ... Agent-General 1,467 7 1 2,669 16 1 1,500 0 0 Interest received on Credit Balances, Now Zealand Public Account, London, &c, transferred to the Consolidated Fund ... Refunds of Stamp Duties Unauthorized, — In excess of Appropriations,— Railways ... ... ... £25,089 8 6 Immigration ... ... ... 76,287 10 3 364,870 14 11 28,462 12 10 178 4 10 I Services not provided for ... 101,376 18 9 5,639 6 5 107,016 5 2 f 3,483,089 3 9 Carried forward 3,483,089 3 9

8.—2

14

Table DR. BALANCE SHEET of RECEIPTS and DISBURSEMENTS of the

RECEIPTS. £ s. d. £ s. d. £ a. d. Brought forward ipecial Ftinds— continued. Immigration and Public Woeks Loans, 1870-74— continued. 6,675,134 14 1 . Total Receipts 6,675,134 14 1 Balance on 30th June, 1874, — Cash in the Public Account ... ... ... Advances to be accounted for, — Colouial ... Foreign 144,304. 15 6 40,564 7 10 83,173 18 0 123,738 5 10 268,043 1 4 6,943,177 15 5 "Wellington Debts Act, 1871," — Receipts, nil. Balance on 30th June, 1874, — Cash in the Public Account ... £5,688 10 6 Wellington Debts Act Redemption Account, — Receipts, nil. Balance on 30th June, 1874, — Cash in the Public Account ... £14,520 2 1 " Wellington Reclaimed Land Act, 1871," — Rents received from the Corporation of the City of Wellington 2,072 3 2 2,072 3 2 Total Receipts £2,072 3 2 "Nobth Otago Distbict Public Woeks Loan Act, 1872,"— Sales of Debentures Land Sales, &c. Transfer from Land Fund, Otago 17,000 0 0 10,790 9 9 601 4 9 28,391 14 6 Total Receipts £28,391 14 6 " GrENEEAL PUEPOSES LOAN ACT, 1873," — Sales of Debentures ... Advances on security of Debentures Contribution from Consolidated Fund under Section 13 of " The Appropriation Act, 1874 " Recoveries for Credit of Votes, &c, — Public Buildings Telegraph Extension Charges and Expenses ... ... .,, 211,200 0 0 56,800 0 0 25,000 0 0 246 10 8 15 7 1 17 14 0 279 11 9 Total Receipts 293,279 11 9 Balance on 30th June, 1874,— Cash in the Public Account Advances to be accounted for 22,125 4 3 4,468 13 4 26,593 17 7 £319,873 9 4

8.—2

15

[> (1) — continued. 'UBLIC ACCOUNT for the Financial Yeab, 1874-75. Clt. DISBURSEMENTS. £ s. d. £ s. d. £ s. d. Brought forward Special Funds— continued. Immigration and Public Wobks Loans, 1870-74— continued. Advances to New Zealand Settlements Act Account, under section 5 of "The Appropriation Act, 1872 " ... Temporary Advances, Bank of England, repaid Drafts on^Crown Agents, retired Temporary Advances, Consolidated Fund, repaid ... 13,000 0 0 610,000 0 0 500,000 0 0 150,000 0 0 3,483,089 3 9 1,273,000 0 0 Total Disbursements ... Balance on 30th June, 1875,— Cash in the Public Account ... Advances to be accounted for, — Colonial Foreign ... 2,126,572 18 2 4,756,089 3 9 35,050 17 11 25,464 15 7 60,515 13 6 2,187,088 11 8 £ 6,943,177 15 5 " Wellington Debts Act, 1871,"— Balance paid to Provincial Account, Wellington ... £5,688 10 6 " Wellington Debts Act Redemption Account, — Amount invested in Debentures of Immigration and Public Works Loan Balance on 30th June, 1875,— Cash in the Public Account ... 14,453 0 0 67 2 1 £14,520 2 1 " Wellington Reclaimed Land Act, 1871," — Transfers to Consolidated Fund of Interest on £31,000 at 5 per cent., — Balance for half-year to 30th June, 1874 One year to 30th Jnne, 1875 Total Disbursements ... Balance on 30th June, 1875, — Cash in the Public Account ... 440 12 3 1,550 0 0 1,090 12 3 81 10 11 £2,072 3 2 "North Otago District Public Works Loan Act, 1872," — Payments to Provincial Account Payments to Agent of the Province in Edinburgh 12,000 0 0 5,441 4 9 17,441 4 9 8,762 18 6 Interest and Sinking Fund Transfer to Land Fund, Otago, under tho lltb. Section of the Act 2,027 11 3 Balance on 30th June, 1875,— Cash in the Public Account ... 28,231 14 6 160 0 0 £28,391 14 6 "General Purposes Loan Act, 1873,"— Telegraph Extension ... Lighthouses ... Public Buildings Charges and Expenses Unauthorized, — Public Buildings (for Services prior to 1st July, 1874) Payments to Road Boards Transfers to Immigration and Public Works Loan— Interest and Sinking Fund, paid in 1871-73 Total Disbursements ... 6,640 2 10 3,530 1 9 45,653 9 5 2,631 3 8 847 3 4 50,000 0 0 143,500 0 0 252,811 1 0 Balance on 30th June, 1875, — Cash in the Public Account ... Advances to be accounted for 67,020 17 1 41 11 3 67,062 8 4 £319,873 9 4

8.—2

16

Table DR. BALANCE SHEET of RECEIPTS and DISBURSEMENTS of the

RECEIPTS. £ s. d. £ s. d. £ s. d. Special Funds — continued. "Westlaxd Loan Act, 1873,"— Receipts, nil. Balance on 30th June, 1874, — Cash in the Public Account ... £7,231 6 3 Westxand Loan Act Redemption Account, — Rents, Licenses, &c. ... £269 5 0 Raiiways Cten job Teapiic,— General Account, — Temporary Advances from Immigration and Public Works Loan for Expenses and Purchase of Stores Recoveries, — Stores, — Stores supplied to Lines, &c. ... £1,856 15 3 Management,— Expenses charged against Lines ... 1,458 17 10 3,000 0 0 t Receipts for Right of Advertising 3,315 13 1 63 12 2 Auckland to Mercer, — Receipts in excess of Expenditure to 30th June, 1874, transferred from Immigration and Public Works Loan Traffic Receipts Recoveries, &c. 6,379 5 3 710 1 7 10,135 15 5 708 7 1 11,554 4, 1 Napier to Waipukurau,— Traffic Receipts Recoveries, &c. 5,350 10 10 102 15 5 Wellington to Masterton, — Receipts in excess of Expenditure to 30th June, 1874, transferred from Immigration and Public Works Loan Traffic Receipts Recoveries, &c. 5,453 6 3 334 5 0 5,842 13 9 625 7 3 6,802 G 0 Manawatu to Foxton, — Receipts in excess of Expenditure to 30th June, 1874 Traffic Receipts Recoveries, &c. ... ... 127 11 2 665 19 0 41 0 7 834 10 9 £31,023 12 4 iand Fund.:— Land Revenue Gold Fields Revenue Gold Duty 762,475 8 0 44,674 3 5 35,010 6 1 Recoveries, — Fees paid Members of WaBte Lands Board, Westland 842,159 17 6 Transfers, — From Consolidated Fund under Section 7 of "The Appropriation Act, 1874" From Guaranteed Land Fund Account, Taranaki ... From North Otago District Public Works Loan, .,. 7 7 0 184 18 0 166 13 4 2,029 5 11 2,380 17 3 844,548 1 9 Native Lands Acts Account, — Fees and Duties Recoveries for Credit of Votes ... Transfer from Immigration and Public Works Loan under Section 8 of " The Appropriation Act, 1874 " 3,335 15 2 131 15 0 8,000 0 0 11,467 10 2 Carried forward 856,015 11 11

17

8.—2

B (1) — continued. 'TTBLIC ACCOUNT for the Financial Yeak, 1774-75. Ch. DISBURSEMENTS. £ a. d. £ s. d. £ s. d. Special Funds— continued. "Westland Loan Act, 1873," — Charges and Expenses of raising Loan Payment to Provincial Account 49 11 0 7,181 15 3 £7,231 6 3 Westland Loan Act Redemption Account, — Disbursements, nil. Balance on 30th June, 1875, — Cash in the Public Account ... £269 5 0 Railways open toe Traffic, — General Account, — Management Stores Receipts for right of Advertising transferred to Lines 1,458 17 10 3,338 10 5 63 12 2 Auckland to Mercer ... Napier to Waipukurau Wellington to Masterton Manawatu to Foxton ... ••• 4,861 0 5 9,202 9 1 3,314 19 1 5,547 14 5 486 19 3 23,413 2 3 Balance,— Cash in the Public Account Advances to be accounted for 6,826 16 6 783 13 ; 7 7,610 10 1 31,023 12 4 Land Fund: — Commissioners of Crown Lands ... ... £4,226 13 4 Less in excess of Appropriation... ... 140 0 0 Receivers of Land Revenue Waste Lands Board Fees, Westland Refunds and Miscellaneous Unauthorized, — Services not provided for ... ... £282 9 5 In excess of Appropriations ... ... 140 0 0 4,086 13 4 1,025 13 2 95 11 O 11 1 3 422 9 5 Payments to Provinces, &c, — To Provincial Accounts To Miners Rights'Deposit Accounts To Timaru and Gladstone Board of Works Account 821,741 5 7 5,588 18 5 28,597 7 9 5,641 8 2 855,927 U 9 Transfers, — To Consolidated Fund— Moiety of Land Revenue, Auckland, 1st July to 26th September, 1874, transferred under Section 7 of "The Provincial Public Works Advances Act, 1874" £274 5 0 In repayment of Guaranteed Land Fund paid Taranaki, 1st July, 1874, to 28th February, 1875 ... ... ... 1,454 13 4 To North Otago District Public Works Loan ... 1,728 18 4 601 4 9 2,330 3 1 863,899 3 0 Carried forward 863,899 3 0 *3—B. 2.

18

8.—2.

Table DR. BALANCE SHEET of RECEIPTS and DISBURSEMENTS of the

RECEIPTS. £ s. d. £ s. d. £ a. d. Brought forward 856,015 11 11 iand Fund— continued. • • Total Eeceipts 856,015 11 11 Balance on 30th June, 1874, — Cash in the Public Account Advances to be accounted for ... 25,516 4 9 42 15 9 25,559 0 6 Total Land Fund £881,574 12 5 'rust Fund :— Deposits received... ... ... ... ... Investments, — General Account, — Securities realized ... ... £249,703 11 3 Temporary Advance from Consolidated Fund ... ... ... 20,000 0 0 224,044 7 9 269,703 11 3 Government Insurance Account, — Securities realized 68,600 0 0 338,303 11 3 Interest on Investments, General Account 35,521 1 1 Total Receipts 507,869 0 1 Balance on 30th June, 1874,— Cash in the Public Account Advances to be accounted for— Colonial... Foreign 862 4 8 55 0 0 90,799 19 9 91,717 4 5 917 4 8 Total Trust Fund £689,586 4 6

19

8.—2.

S (1) — continued. 'TTBLIC ACCOUNT for the Financial Teae, 1874-75. Ck. DISBURSEMENTS. £ s. d. £ s. d. Brought forward 863,899 3 0 Land Fund — continued. Native Land Acts Account, — Native Lands Court ... ... ... £7,267 12 11 Less in excess of Appropriation ... 0 13 7,267 11 8 Survey Department ... ... ... £5,851 3 6 Less in excess of Appropriation ... 208 3 6 £5,851 3 0 208 3 6 5,643 0 0 Refund of Duty Payments to Provincial Account, Hawke's Bay ■Unauthorized, — In excess of Appropriations ... Transfers, — To Consolidated Fund, — Incidental Revenue, Fees, and Duties received at Chatham Islands Balance at debit of Capitation Account, Hawke's Bay, 30th June, 1874 Balance at debit of Separate Account, Hawke's Bar, 30th June, 1874 To Consolidated Loan Act, — In respect of sum recoverable from Hawke's Bay on • account of expenses of Conversion of Debentures 12,910 11 8 0 6 3 285 16 0 208 4 9 4 14 5 7 18 10 4 19 3 122 15 8 140 8 2 13,545 6 10 Total Disbursements ... Balance on 30th June, 1875, — Cash in the Public Account Advances to be accounted for ... 877,444 9 10 4,125 8 4 4 14 3 4,130 2 7 Total Land Fund £881,574 12 5 Trust Fund :— Deposits withdrawn Investments, — General Account Government Insurance Account 284,000 0 0 173,900 0 0 180,756 1 10 457,900 0 0 Interest Account, — Transferred to Government Insurance Account Transferred to Post Office Savings Bank Account ... Transferred to Investment Account Interest on £20,000 advanced temporarily from Consolidated Fund Interest accrued on Debentures purchased Balance transferred to Consolidated Fund 856 19 0 27,176 0 5 520 0 0 230 12 6 126 2 4 6,611 (> 10 35,521 1 1 Total Disbursements ... 674,177 2 11 Balance on 80th June, 1875, — Cash in the Public Account Advances to be accounted for ... 12,265 12 1 3,143 9 6 15,409 1 7 Total Trust Fund £689,586 4 6

8.—2

20

Table C STATEMENT of RECEIPTS and EXPENDITURE of the LAND FUND for the Financial Year 1874-75.

Receipts. Balances ON 30th June, 1875. Provinces. Balances ON 30th Juke, 1874. Expenditure. Land Revenue. Gold Fields Revenue. Gold Duty. Transfers and Recoveries. Total Receipts. £ s. d. £ s. d. £ s. d. £ s. a. £ b. d. £ s. (L £ s. d. £ a. d. 17 10 0 1,757 17 11 Auckland Taranaki Wellington Hawke's Bay Nelson Marlborough Canterbury Westland Otago 137 19 1 60 15 7 40 6 3 591 15 0 15 16 0 22,650 9 1 801 2 6 3,868 18 10 74,634 4 1 22,658 18 2 13,830 7 11 5,960 5 1 331,878 11 5 5,712 2 5 303,130 17 7 6,558 3 7 9,419 18 5 158 4 10 6,651 9 9 8,889 3 8 158 3 10 184 18 0 166 13 4 14,195 13 10 4,035 12 2 74,634 4 1 22,658 18 2 32,139 10 0 6,276 13 9 331,878 11 5 17,163 0 4 341,565 18 0 14,316 2 11 2,277 14 3 74,634 4 1 22,658 18 2 32,121 2 6 6,250 0 5 332,470 6 5 17,136 8 11 362,034 5 4 79 3 1 66 19 7 4,343 3 0 24,194 13 7 7,100 7 11 12,211 0 11 7 7 0 2,029 5 11 42 7 5 2,182 1 9 Native Land Acts Accounts Fees and Duties Recoveries and Transfers 23,497 1 0 2,061 19 6 762,475 8 0 844,548 1 9 863,899 3 0 4,145 19 9 44,674 3 5 35,010 C 1 2,388 4 3 ... 3,335 15 2 8,131 15 0 I 11,467 10 2 13,545 6 10 Dr. 15 17 2 . Total ... 25,559 0 6 • 762,475 8 0 44,674 3 5 35,010 6 1 13,855 14 5 85G,015 11 11 877,444 9 10 4,130 2 7

21

8.—2

Table C (1). STATEMENT showing the RECEIPTS and EXPENDITURE of the PUBLIC TRUST FUND, from the 1st JULY, 1874, to the 30th JUNE, 1875.

Balances on 30th June, 1874. Reoeipts. Expenditure. Balanoes on 30th June, 1875. £ s. d. £ s. d. £ s. d. £ s. d. Armed Constabulary Reward Fund Account 1,275 0 2 92 3 6 63 19 0 1,303 4 8 Bay of Plenty Districts Account 18 5 0 28 0 0 46 S 0 Government Insurance Account 66,997 8 4 72,688 11 6 27,115 4 7 112,570 15 3 General Assembly Library Fund Account 75 0 0 50 0 0 125 0 0 Grey River Railway Repayment Account 44 3 3 44 3 3 Interest Account ... 35,521 1 1 35,521 1 1 Java Cable Telegram Account 3,247 16 6 2,962 1 10 285 14 8 Land Assurance Fund Account 5,930 15 0 2,165 10 5 41 1 10 8,055 3 7 Land Clauses Consolidation Act Account 50 0 0 50 0 0 Military Savings Banks Account 156 4 9 156 4 9 Militia Act Account 52 7 0 20 7 6 24 12 6 48 2 0 Merchant Shipping Act Account 31 9 3 2 14 0 34 3 3 Native Reserves Account 2,354 18 7 7,580 18 2 8,475 1 6 1,466 15 3 Native 10 per Cent. Auckland Land Purchase Account 2,967 0 9 780 10 1 2,186 10 8 Native 5 per Cent. Wairarapa Land Purchase Account 1,038 19 10 96 12 3 1,117 0 3 18 11 10 Natives at Wellington Deposits Account 370 0 0 370 0 0 Otago Loan Ordinance 1861-62 Redemption Account 5,000 0 0 5,000 0 0 Outlying Districts Sale of Spirits Act Account 33 9 6 33 9 6 Port Chalmers Railway Depreciation Account 873 7 0 873 7 0 Post Office Money Order Account 9,959 7 7 49,540 18 3 59,500 5 10 Post Office Savings Banks Account ... 682,042 0 2 80,215 8 11 73,779 4 0 688,478 5 1 Supreme Court Account 1 10 10 1 10 10 Trustees Relief Act Account... 734 0 2 143 0 0 221 13 4 655 6 10 Unclaimed Balances Account 580 13 8 2,215 7 0 1,550 7 1 1,245 13 7 Unclaimed Balances Closed Account ... 588 19 7 588 19 7 Unclaimed Dividends Account 359 15 8 359 15 8 Unclaimed Property Account 523 1 5 523 1 5 ... , Totals 776,106 17 9 259,565 8 10 216,277 2 11 819,395 3 8 Investments in Governments Securities— £ a. d. 5s a. u. £ s. d. £ s. d. Government Insurance Account 105,300 0 0 General Account ... 718,686 2 1 Less Temporary Advance from Consolidated Fund 20,000 0 0 Total Investments Cash in the Public Account 698,686 2 1 £12,265 12 1 803,986 2 1 £819,395 3 8 Advances to be accounted for ... 3,143 9 6 Total 15,409 1 7

22

8.—2

Table D. STATEMENT of the UNAUTHORIZED EXPENDITURE of the CONSOLIDATED FUND, from 1st JULY, 1874, to 30th JUNE, 1875.

FOE SERVICES NOT PROVIDED FOR,— £ s. d. £ s .1 £ s. d. Stamps,— Refunds of Fines Clerical assistance 26 2 9 15 15 0 41 17 9 Judicial, — District Judge, Hokitika, Allowance for removal from Napier Fees for service of summons refunded Defalcations, in part, of J. Hare, late Clerk to the Bench, Wanganui Moiety of Fine under Licensing Act paid to Informer 120 0 0 110 5 19 0 12 10 0 139 10 0 Postal, — Defalcation of S. M. Spiers, late Postmaster, Ross ... ... ... ... £478 2 6 Less recovered ... ... ... 106 6 0 Defalcation of J. Delany, Post Office Savings Bank, Oamaru Conveyance of mails between Hokianga and Waimate, October, 1872 ... Advertising tenders for Coastal Service, &c. Clerical assistance, Post Office, Invercargill, June, 1873 371 16 6 25 0 0 5 16 8 7 6 7 5 16 8 / 415 16 5 Telegraph,— Instruction of Cadets, &c, Wellington ... 43 1 G Customs, — Services in protection of the Revenue Compensation for Custom House Bite, Russell 5 0 0 100 0 0 105 0 0 Native, — C. Vincent, Compensation for stoppage of mill, &c, at Waihou Legal expenses, Native reserve, Princes Street, Dunedin Wairarapa five per cents, to 30th June, 1874 Payments to Natives on account of section 402, Port Chalmers Seed wheat and potatoes for Ngataerangi Natives in 1864 ... Steam subsidy, Lake Taupo Government Agent, Hauraki Clerical Assistance Travelling Expenses ... Provisions, &c., for Natives Present to Te Hira for services ... Miscellaneous 164 2 0 374 16 6 19 2 3 145 0 0 200 . 0 0 250 0 0 133 6 8 18 0 0 34 6 10 95 1 6 30 8 6 8 18 9 1,473 3 0 Defence, — W. K. McLean, Compensation for loss of office as Accountant, Defence Office H. J. Gundry, Gratuity on resignation of Sub-Inspectorship at Waihi, Taranaki C. W. Ferris, Gratuity on resignation of Sub-Inspectorship at Gisborne 165 0 5 125 0 0 62 10 0 352 10 5 Miscellaneous, — Water Supply, Government House, Auckland Payment to M. and J. Colgin of money left by W. Colgin, felo de se Balances of Intestate Estates transferred to Consolidated Fund now returned to Public Trustee, — Estate of T. M. Brown ... ... £10 16 6 „ C. Pugh ... ..." 2 4 6 „ J. Morrison ... ... 45 5 3 „ H. Lytle 1 19 9 189 17 6 121 13 2 I Balances of Imprest Accounts written off Refunds of Fees under the Marriage Act... Subsidy to lessee of Auckland Islands Purchase of lease of house for residence of Minister of Justice Freight on furniture for Ministerial Residence, Molesworth Street ... 60 6 0 87 4 9 8 5 0 200 0 0 400 0 0 14 0 8 Carried forward 1,081 7 1 2,570 19 1

23

8.—2

Table D continued. STATEMENT of the Unatjthoeized Expendittjke— continued. Brought forward £ s. d. 1,081 7 1 £ s. d. 2,570 19 1 £ s. d. Remission certificates, Taranaki Lithofracteur for rock blasting at Poverty Bay Preparing map of North Island showing road districts Duty paid on stationery Attendance as Licensing Commissioner at Kaipara 7,030 0 0 23 15 0 6 0 0 3 0 3 4 10 0 8,148 12 4 MlLITIA AND VOXTTNTEEES, — Payments on account of contract for removal and re-erection of Drill Shed, Auckland Compensation to H. Gordon, late Artillery Band, Wellington 465 6 8 15 0 0 480 6 8 Recoverable : — Advance to Emigrant and Colonist's Aid Corporation Peovincial Chabges,— Auckland, — Ohinemuri Gold Field, — Cession of Land ... ... ... £500 0 0 Road Works and Surveys, &c. ... 744 5 0 Building for temporary Government Offices ... ... ... 21 12 0 5,000 0 0 11,199 18 1 1,265 17 6 Electoral Expenses ... ... ... £685 1 0 Less recovered ... ... ... 270 17 9 £685 1 0 270 17 9 414 3 3 17 6 Code of Signals ... ... ... ... Tabanaki, — Code of Signals ... ... Hatvke's Bay,— Travelling Expenses of Commissioner of Crown Lands Importation of Birds ... ... ... £189 8 1 Less recovered ... ... ... 47 10 3 1,681 8 3 12 0 23 12 6 Oil and Charges Code of Signals Electoral Expenses ... ... ... £16 7 0 Less recovered ... ... ... 13 10 0 141 17 10 73 5 4 0 5 C 2 17 0 Wellington,— Travelling allowance connected with laying off reserves in the lianawatu Block... Code of Signals Freight on case from England for Lighthouse Somes' Island I 17 6 6 241 18 2 2 4 0 0 13 2 17 6 6 2 4 0 0 13 2 20 3 8 Nelson— Travelling allowance and expenses of Resident Magistrate holding Court at Nelson S.W. Gold Fields ... Code of Signals 9 U 0 0 16 ti 9 U 0 0 16 ti 10 10 6 Mablbobough— Code of Signals Cantebbuey— Code of Signals Wf.stland — Code of Signals Otago— Charges on case of silver plate ... Code of Signals 10 l 0 0 5 fi 0 16 6 0 11 0 1U 1 O 3 0 6 10 1 0 3 0 6 13 1 6 6,069 17 1 Total 18,169 15 2 Recoyebed— Advance to Conservators South Waimakariri River On account of defalcation of S. M. Spiers ArCKLAND— Electoral Expenses Eoad Contracts, &c. ... Payment to J. Fraser for deficient acreage Hawke's Bay— Importation of Birds... Electoral Expenses Westlasd — Electoral Expenses 270 17 9 972 5 4 50 2 3 4,500 0 0 106 6 0 1,293 5 4 47 10 3 13 10 0 61 0 3 C6 3 0 6,02G 14 7 Credit— . Kaipara, Pilotage'and.Portf Charges Carried forward ... ... ... ••• 24,196 9 9 79 12 5 24,116 17 4

8.—2

24

Table D— co tinned. STATEMENT of the Unauthorized Expenditure— continued. £ s. d. £ s. d. £ s. d. 24,116 17 4 Brought forward FOR SEEVICES IN EXCESS OF APPROPRIATIONS,LlABILITIES, — Vote No. 1 ... 5,695 17 6 Class I. —Public Departments,— Vote No. 3.—Executive ... ... ... 180 14 10 „ 5.—Printing ... ... ... 1,018 5 0 „ 7. —Geological and Meteorological ... 10 1 9 1,209 1 7 Class II.—Law and Justice, — . Vote No. 12.—Supreme Court ... ... 348 16 11 „ 13.—District Court ... ... 153 8 4 „ 14.—Resident Magistrates' Courts... 112 11 1 „ 15.—Petty Sessions Courts ... 34 3 3 „ 16. —Criminal Prosecutions ... 95 0 8 „ 17.—Justices of the Peace ... 593 6 8 „ 18.—Coroners Act ... ... 855 7 6 „ 19.—Lunatics Act ... ... 108 14 6 „ 20.—Juries Act ... ... 255 13 0 „ 21.—Contingencies ... ... 1,028 3 4 „ 23.—Deeds Registry ... ... 836 0 7 Class III.—Postal and Telegeaph,— Vote No. 24.—Postal ... ... ... 5,533 7 10 „ 25.—Telegraph... ... ... 5,785 19 10 4,421 5 10 11,319 7 8 Class V.—Miscellaneous, — Vote No. 29.—Exchange and Commission ... 455 5 4 „ 32.—Special Allowance to Officers of Civil Service ... ... 1,734 17 4 2,190 2 8 Class VI.—Native, — Vote No. 35.—General Contingencies ... 2,268 3 10 „ 36.—Native Schools ... ... 2,311 11 4 „ 38.—Native Lands Frauds Prevention Act ... ... 24 2 10 4,603 18 0 Class VII.—Militia and Volunteebs, — Vote No. 41. —Store Department 21 9 5 23,765 5 2 Total in excess of Appropriations ... 29,461 2 8 Total Unauthorized £53,578 0 0

Table E. STATEMENT showing the SUMS APPROPRIATED out of SPECIAL FUNDS for the Financial Year 1874-75; the RECOVERIES TO CREDIT; the actual EXPENDITURE made during the Year; the VOTES EXPENDED or EXCEEDED; and the AMOUNTS RESERVED.

8.—2.

25

i Authorized. Actual Amount Unexpended. Extended in Excess. Amount Resebved. bd Estimates. Credits. Total. NEW ZEALAND SETTLMENTS ACTS ACCOUNT. £ s. d. 48 49 Confiscated Lands Compensation £ s. d. 14,674 0 0 72 7 6 £ s. d. 60 17 4 £ a. d. 14,734 17 4 72 7 6 £ s. d. 18,368 9 5 72 7 6 £ s. d. 3,633 12 1 £ s. d. Total New Zealand Settlements Acts Account 14,746 7 6 I 60 17 4 14,807 4 10 18,440 16 11 3,633 12 1 ... "DEFENCE AND OTHER PUEPOSES LOAN ACT, 1870." 5d Defence Office ... 1,075 0 0 1,075 0 0 1,166 6 9 91 6 9 51 Armed Constabulary :— Commissioner's Office, &c. ...• Pay and Allowances Contingent Expenditure — Rations Clothing Forage Purchase of Horses ... Saddlery and Repairs Travelling Expenses Transport ... Buildings and Repairs ... Shooing Horses Hospitals ... Miscellaneous 1,345 16 8 80,532 11 2 95,000 0 0 14,871 9 6 109,871 9 6 4,677 15 4 4,489 19 3 6,751 2 7 369 7 6 182 12 10 260 5 3 892 14 10 680 13 11 237 16 8 214 0 9 966 19 4 8,269 13 5 8,269 13 5 52 Miscellaneous :— Prizes for Ride Shooting Passages, &c, for Competitors Purchase of Ammunition, Arms, &c. .., Transport Insurances Repairs, &c. Contingencies ... L 14,700 0 0 95,000 0 0 406 9 8 14,871 9 6 109,871 9 6 ... r 15,106 9 8-j 1,963 19 0 1,553 3 8 10,995 13 5 909 1 8 30 0 0 71 18 4 331 6 0 101,601 16 1 J 8,209 13 5 748 12 5 8,269 13 5 14,700 0 0 406 9 8 15,106 9 8 15,855 2 1 7-18 12 5 Steamer "Luna" 3,500 0 0 53 3,500 0 0 3,995 0 8 495 0 8-| 54 Contingent Defence and Liabilities 15,725 0 0 5,329 4 4 21,054 4 4 18,278 13 9 2,775 10 7 2,775 10 7 50 51 52 53 54 Summary of Totals. Defence Office ... Armed Constabulary Miscellaneous ... Steamer "Luna" Contingent Defence, &c. 1,075 0 0 95,000 0 0 14,700 0 0 3,500 0 0 15,725 0 0 14,817 9 6 406 9 8 1,075 0 0 i 109,871 9 6 15,106 9 8 3,500 0 0 21,054 4 4 1,166 6 9 101,601 16 1 15,855 2 1 3,995 0 8 18,278 13 9 8,2C9 13 5 91 6 9 748 12 5 495 0 8 8,269 13 5 5,329 4 4 2,775 10 7 2,775 10 7 Total Defence and Other. Purposes Loan... 130,000 0 0 20,607 3 6 150,607 3 6 140,896 19 4 11,045 4 0 1,334 19 10 11,045 4 0

8.—2.

26

XQiDiG Jli — continued. STATEMENT showing tie Sums Appropriated out of Special Funds, &c. — con, 'inued. AUTHOBIZED. Actual Expenditure. Amount Unexpended. Expended in Excess. Amount Reserved. Estimates. Credits. Total. IMMIGRATION AND PUBLIC WORKS LOAN ACTS, 1870-74. 53 57 68 50 60 01 62 01 05 OG Public Works :— Liabilities Head Office Store Department Roads, North Island „ Middle „ Railways, North Island ... „ Middle „ Land Purchase Officers ... Water Races Survey for Mikonui Water Race ... Preliminary Expenses for additional Lighthouses Agent-General's Department £ s. d. 2,900 0 0 19,224 10 0 535 0 0 6,966 18 8 828 15 0 17,545 10 0 22,036 6 0 5,279 0 0 2,322 10 0 2,000 0 0 2,500 0 0 1,375 0 0 £ s. d. 2 8 0 1,052 1 2 50 0 0 20 14 8 13 6 8 £ a. d. 2,902 8 0 20,276 11 2 535 0 0 6,966 18 8 828 15 0 17,595 10 0 22,106 19 8 5,292 6 8 2,322 10 0 2,000 0 0 2,500 0 0 1,375 0 0 £ s. d. 853 15 5 18,780 1 9 535 0 0 5,665 6 10 806 13 10 12,362 13 5 18,030 11 5 3,534 13 8 1,548 6 0 284 17 0 £ s. d. 2,0-lS 12 7 1,490 9 5 1,301 11 10 22 1 2 5,232 16 7 4,076 8 3 1,757 13 0 774 4 0 1,715 3 0 2,500 0 0 566 0 0 £ s. d. £ 'a. d. 1,496 9 5 1,715 3 0 2,500 0 0 566 11 2 808 8 10 Total Public Works 83,563 8 8 6,278 3 7 1,138 10 6 84,701 19 2 63,210 8 2 21,491 11 0 en (IS 71 Immigration :— Agent-General's Department Immigration Services Liabilities on completion of Immigration and Quarantine Dep6ts Proportion of Salary, Colonial Architect Moiety of Cost of Pour Steam Launches 12,065 0 0 463,740 7 0 4,000 0 0 250 0 0 1,200 0 0 26 6 5 42,150 18 2 12,091 6 5 505,897 5 2 4,000 0 0 250 0 0 1,200 0 0 12,756 12 8 581,017 5 2 4,502 4 0 250 0 0 665 6 3 75,120 0 0 502 4 0 1,200 0 0 1,200 0 0 Total Immigration ... 481,261 7 0 42,177 4 7 523,438 11 7 598,526 1 10 1,200 0 0 70,287 10 3 1,200 0 0 Summaet op Totals. * i Public Woeks Immigration 83,503 8 8 481,261 7 0 1,138 10 G 42,177 4 7 84,701 19 2 523,438 11 7 63,210 8 2 598,520 1 10 21,491 11 0 1,200 0 0 76,287 10 3 6,278 3 7 1,200 0 0 Total Immigration and Public Wobks Loans 564,82-1 15 8 661,736 10 0 22,691 11 0 76,287 10 3 7,478 3 7 43,315 15 1 608,140 10 9 " GENERAL PURPOSES LOAN ACT, 1873." 7;s 74 75 76 Public Buildings :— Judicial Postal and Telegraph ... ... ... Customs Offices for Public Departments Miscellaneous ... 8,150 0 0 42,565 0 0 4,050 0 0 35,750 0 0 6,300 0 0 2 0 0 82 10 8 8,152 0 0 42,647 10 8 4,050 0 0 35,912 0 0 6,300 0 0 1,142 15 8 12,099 2 2 7,009 4 4 30,548 8 6 4,050 0 0 29,040 12 7 3,361 3 0 7,009 4 4 30,5J8 8 6 4,050 0 0 29,640 12 7 3,361 3 0 162 0 0 6,271 7 5 2,938 17 0 Total General Purposes Loan 74,609 8 5 96,815 0 0 246 10 8 97,061 10 8 22,452 2 3 74,609 8 5

27

8.—2

Table F. STATEMENT of ACCOUNTS with the several PROVINCES, under "The Payments to Provinces Act, 1872," &c., for the FINANCIAL YEAR, 1874-75.

Debits. Credits. Paid to Balances. Payable Provinces PROVINCES. Interest and Sinking Fund. Services charged Provincially. Total. Capitation Money. Special Allowances under " Payments to Provinces Act, 1872." Special Allowances under " Provincial Public Works Advances Act, 1874." Recoveries on Account 'of Debit Balances. Total. to Peovinces. AND Teansfees. Du. Ce. Auckland Takanaki Wellington ... ITawke's Bay Nelson MaELBOEOTJG-II Cantebbuey ... Westland Otaoo £ s. d. 40,435 7 3 1,964 19 2 13,851 0 4 6,678 17 10 4,166 9 7 478 4 0 41,771 17 5 12,771 8 1 68,159 1 9 £ s. d. 143 7 6 388 3 6 £ s. a. 40,578 14 9 1,964 19 2 13,831 0 4 6,678 17 10 4,554 13 I' 478 4 0 41,771 17 5 12,771 8 1 68,319 1 9 £ s. d. 51,870 15 0 4,167 15 0 23,568 15 0 7,311 15 0 17,063 5 0 4,656 15 0 46,740 0 0 11,180 5 O 66,612 0 0 £ s. d. 4,000 0 0 250 0 0 750 0 0 1,500 0 0 £, s. d. 25,000 0 0 5,006" o o £ s. d. £ s. d. 80,870 15 0 4,417 15 O 24,318 15 0 8,811 15 0 22,063 5 0 4,656 15 0 46,740 0 0 23,013 12 6 08,481 9 7 £ s. d. 40,292 0 3 2,452 15 10 10,467 14 8 2,132 17 2 17,508 11 11 4,178 11 0 4,968 2 7 10,272 4 5 1G2 7 10 £ s. d. 35,653 5 8 2,252 18 9 9,725 3 9 1,728 11 2 15,640 12 3 3,835 7 7 3,417 15 0 9,232 6 0 577 0 0 £ s. d. £ a. d. 4,638 14 7 199 17 1 742 10 11 404 0 0 1,867 19 8 343 3 5 1,550 7 7 1,039 18 5 ... I ... 160 6 0 11,863 7 6 1,8G9'"9 1 414 12 2 6,500 0 0 41,803 7 6 1,809 9 7 414 12 2 10,786 17 8 190,277 5 5 091 11 0 190,968 16 5 233,171 5 0 283,404 2 1 92,435 5 8 82,063 0 2 GEANTS TO KOAD BOABDS. Auckland. Taeanaki. Wellington. I Hawke's Bay. Nelson. Mablboeotoh. Cantebbuey. Westland. Otago. Total. £ s. (1. 11,122 17 9 £ s. d. 893 14 2 £ s. d. 5,053 19 2 £ s. d. 1,507 17 10 £ s. d. 3,658 19 1 £ s. d. 998 11 4 £ s. d, 10,022 13 6 £ s. d. 10,022 13 6 £ s. d. 2,397 8 8 £ s. d. 14,283 18 6 £ s. a. 1 50,000 0 0

28

8.—2

Table G. GENERAL BALANCE SHEET and SUMMARY of TRANSACTIONS of the PUBLIC ACCOUNT for the FINANCIAL YEAR euded 30th JUNE, 1875.

Tbansactions. De. Balances on 30tii June, 1875. Ob. Balances on 30th June, 1874. Ce. Balances on 30th June, 1875. Dr. Disbursements and Transfers. Or. Receipts and Transfers. Cash in the Public Account. Imprests unaccounted toe. Totals. Colonial. Foreign. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ b. d. £ a. d. £ s. d. Consolidated Fund 377,302 11 9 2,489,831 10 3 2,192,602 13 5 80,073 14 11 64,553 17 5 14,575 9 0 944 8 6 80,073 14 11 Special Funds, — " New Zealand Settlements Act, 1863 " 3,704 13 0 30,869 13 5 33,711 18 1 6,546 17 8 856 12 11 5,690 4 9 6,546 17 8 " Consolidated Loan Act, 1867 "... 5,170 1 10 80,421 13 4 85,904 11 6 10,653 0 0 8,551 17 0 2,101 3 0 10,653 0 0 " Defence and Other Purposes Loan Act, 1870" 44,846 5 11 157,013 4 7 147,607 3 6 35,440 4 10 24,860 5 4 10,579 19 6 35,410 4 10 " Immigration and Public Works Loan Acts, 1870-74" 268,043 1 4 4,756,089 3 9 6,675,134 14 1 2,187,088 11 8 2,126,572 18 2 35,050 17 11 25,464 15 7 2,187,088 11 8 " Wellington Debts Act, 1871" ... 5,688 10 6 5,688 10 6 "Wellington Debts Act, 1872," Redemption Account 14,520 2 1 14,453 0 0 67 2 1 67 2 1 67 2 1 " Wellington Reclaimed Land Act, 1871"... 1,990 12 3 2,072 3 2 81 10 11 81 10 11 81 10 1 " North Otago District Public Works Loan Act, 1872 " 28,231 14 6 28,391 14 6 100 0 0 1G0 0 0 160 0 0 " General Purposes Loan Act, 1873 " 26,593 17 7 252,811 1 0 293,279 11 9 67,0G2 8 4 67,020 17 1 41 11 3 67,062 8 4 " Westland Loan Act, 1873 " 7,231 6 3 7,231 6 3 " Westland Loan Act, 1873," Redemption Account ... # 269 5 0 269 5 0 269 5 0 269 5 0 Railways open for Traffic 23,413 2 3 31,023 12 4 7,610 10 1 6,826 16 6 783 13 7 7,610 10 1 Land Fund 25,559 0 6 877,444 9 10 856,015 11 11 4,130 2 7 4,125 8 4 4 14 3 4,130 2 7 Teust Fund 91,717 4 5 674,177 2 11 597, 869 0 1 15,409 1 7 12,265 12 1 3,143 9 G 15,409 1 7 Receipts in Suspense 670 0 6 72,430 14 9 72,265 1 7 504 7 4 504 7 4 504 7 4 Totals 871,046 15 8 9,472,096 19 7 11,016,147 0 11 2,415,096 17 0 2,316,716 10 2 71,971 2 9 26,409 4 1 2,415,096 17 0

29

8.—2

Table H. STATEMENT of the RECEIPTS of the CONSOLIDATED FUND for the YEAR ended 30th June, 1875.

PROVINCE IN WHICH COLLECTED. CONSOLIDATED FUND. TOTAL. Auckland. Takanaki. Wellington. Hawke'sBayi Nelson. Marlboro'. Canterbury. Westland. Otago. £ s. d. I £ s. d. £ b. d. £ s. a. £ s. d. £ b. d. £ s. d. £ s. d. £ s. d. £ s. d.l £ f. d. £ b. d. Customs: — Duties ... ... ..< ... Bents, Seizures, &c. Bonded Warehouse Duties .,, Fees :— " Merchant Shipping Act, 1858 " " Arms Act, 1860 " " Marine Act, 1866 " " Steam Navigation Act, 1866 " "Oyster Fisheries Act, 1866" " Trade Marks Act, 1866 " " Distillation Act, 1868 " " Merchant Ships Officers Examination Act, 1870" " Drawbacks Act, 1872 " ,.. 2 10 10 254,814 6 3 143 3 10 1,126 17 9 8,143 10 2 16 3 3 50 0 0 163,862 9 3 43,139 3 8 81,227 5 2 11 7 5 456 17 0 8,871 10 1 10 17 10 50 0 0 193,219 3 6 738 10 0 55,865 17 9 350 0 0 414,228 17 5 57 16 9 1,099 19 11 1,223,374 14 1 239 9 1 4,872 10 2 750 5 6 250 0 0 531 19 6 657 12 0 1,687 3 11 192 3 0 3 12 6 52 3 0 49 13 8 6 6 0 149 13 0 240 14 0 1,729 13 1 137 10 0 25 1 3 92 0 0 193 4 6 31 10 0 • 22 3 6 169 6 0 767 6 11 46 3 0 5 15 0 3 10 9 52 16 9 135 7 8 3 3 0 0 10 0 274 13 3 276 16 0 2,229 13 9 31 10 0 10 0 3 3 0 119 0 0 17 17 9 176 10 0 111 12 0 29 8 0 389 19 0 352 1 0 3,313 14 8 193 4 0 1 17 6 1,418 10 6 2,069 18 9 10,247 10 2 610 17 0 9 2 6 22 1 0 566 0 0 93 0 0 10 0 0, 18 18 0 65 0 0 23 0 0 48 0 0 17 0 0 ... si" o o 140 0 0 70 15 0 6 9 0 41 0 0 15 0 10 0 2 0 0 0 7 6 6" 3 0 27 10 0 0 18 0 143 10 0 7 17 6 Stamp Duties Postal Telegraphic Judicial Fees and Fines :— Snpreme Courts Sheriff's Offices District Courts Resident Magistrates' Courts Petty Sessions Courts ... ,.. Fees :— Registration of Land ... „ Deeds ... ... ... „ Births, Marriages, &c. „ Joint Stock Companies „ Medical Practitioners Issue of Crown Grants "Land Claims Settlements Act, 1856" ... "Aliens Act, 1860" ... " Patents Acts, 1860-1870 " " Licensing Act Amendment Act" " Native Circuit Courts Act, 1858 " " Licensing Ordinance Amendment Acts " 2 19 8 1,359 2 1 16,307 0 4 12,279 8 6 9,210 5 3 1,035 19 8 978 0 1 1,006 17 9 16,469 15 10 9,416 8 3 7,521 11 3 5,640 3 2 3,312 7 2 2,559 7 6 5,367 8 3 3,127 3 11 4,588 8 8 808 12 1 1,318 5 1 1,330 0 2 23,013 17 6 14,010 16 1 9,129 17 9 3,114 19 5 3,336 19 4 3,194 13 0 38,872 4 4 22,298 9 6 17,011 1 5 1,243,582 0 9 110,641 0 3 72,037 0 0 55,552 2 9 1,081 14 7 145 9 11 316 16 9 3,618 0 4 61 15 2 21 11 0 5 6 0 87 11 3 324 15 10 955 1 1 27 4 6 167 6 0 21 9 0 38 13 6 712 11 7 76 17 9 395 8 6 14 12 0 255 9 0 2,211 18 11 45 14 0 1,090 9 0 74 12 3 262 3 6 5,636 16 8 139 17 1 64 2 2 288 16 0 1,759 17 9 1,209 3 10 116 11 0 640 6 8 6,717 17 11 388 12 0 5,030 10 2 405 4 8 1,919 16 8 24,226 10 2 681 13 2 32,263 14 10 15 17 6 2,678 3 11 0 14 6 550 9 9 13 16 8 4 2 6 I 920 15 8 4,136 16 0 958 17 0 306 3 6 2 5 0 1,796 14 10 91 9 0 564 6 0 64 0 6 7 7 0 167 6 « 1,220 17 0 2,1G3 2 6 729 18 9 18 9 0 7 10 0 433 10 0 8 11 10 146 2 0 163 19 0 23 11 0 511 19 0 1,212 15 0; 218 18 0 311 18 0 612 2 0 662 17 0 234 3 6 31 0 0 242 1 0 264 3 0 410 18 6 131 7 6 1 5 0 27 3 2 4,056 2 8 2,689 3 0 914 17 0 21 15 0 10 10 0 706 6 5 307 16 4 223 18 6 197 7 C 21 1 0 330 19 0 3,536 2 4 3,769 5 6 1,391 16 0 73 5 0 14 15 0 2,393 18 7 11,521 7 0 15,833 2 0 4,845 8 3 482 0 6 36 5 0 6,459 16 6 8 11 10 146 2 0 163 19 0 396 0 6 10 2 6 10 0 0 ... ... ... 0 5 0 69 18 6 10 2 6 10 18 0' 7* 9 6 35 3 0 13 16 0 46 11 6| 46 12 6 141 15 6 10 0 0 ... ... ... ... ... ... ... I ... Carried forward ... 518,351 2 10 39,912 15 1 1,514,075 18 7 1,394 17 7 310,575 14 1 12,716 16 2 209,017 13 3 58,545 14 7 1 100,533 4 9 14,061 7 0 259,299 12 5 69,492 11 o!

8.—2

30

JLable Jl — continued. STATEMENT of the Eeceipts of the Consolidated Fund for the Year ended 30th June, 1875. PROVINCE IN WHICH COLLECTED. CONSOLIDATED FUND. TOTAL. Genebal. Auckland. Taeanaki. Wellington. Hawke'sBay Nelson. Maelboeo'. Canterbury. Westland. Otago. £ s. d. 1,394 17 7 £ s. d. 310,575 14 1 £ s. d. 12,716 16 2 £ s. d. 209,017 13 3 £ s. d. 58,545 14 7 £ s. d. 100,533 4 9 £ 14,061 s. d. £ s. d. 7 0 259,299 12 5 £ s. d. 69,492 11 0 £ s. d. 518,351 2 10 £ s. d. 39,912 15 1 £ s. d. 1,514,075 18 7 Brought'forward ... Pees — continued. "Lunatics Act, 1868"... "Lost Licenses and Leases Act, 1865 " ... " Lost Land Orders Act, 1861 " "Inspection of Machinery Act, 1874" Fines: — "Coroners Act, 1867" 20 17 6 267 0 0 i" 0 0 191 0 0 5 0 0 196 0 0 ... 252" 0 0 20 17 6 5 0 0 10 0 906 0 0 0 15 0 1 10 0 2 5 0 Incidental Receipts 50,079 0 3 ... 40,847 17 7 50,079 0 3 Total ... 1,605,002 16 5 51,494 15 4 310,842 14 1 12,717 16 2 209,209 8 3 58,545 14 7 100,533 4 9 14,061 7 0 259,502 2 5 69,492 11 0 518,603 2 10

8.—2

31

Table H (1). STATEMENT showing the REVENUE from STAMP DUTIES during the FINANCIAL YEAR 1874-75.

Undee Schedule I. Adhesive. | Immigeation Fees, Fines, Licenses. Consolidated AND Bank AND to Commission Total. Fund. Public Woeks Composition. Refunded. Impressed. Adhesive. Under Schedule II. Under Schedule III. Under Schedule IV. Penalties. Companies. Account. I £ B. d. £ e. d. £ s. d. £ s. d. £ a. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ b. a. Geneeax, — Chatham Islands i... 0 19 6 2 0 2 2 19 8 2 19 8 Peotinoial, — 7,674 19 1 688 10 0 294 7 8 80 14 0 1,574 8 4 275 0 3 502 10 0 7 17 3 16,307 0 4 8,153 10 4 8,153 10 0 Auckland .., 5,208 13 9 Taranaki ,,, 295 7 4 663 17 10 184 0 0 7 l ; H 5 0 0 1,055 19 8 527 19 10 527 19 10 Wellington 3,926 16 4 6,571 19 9 452 17 2 2G5 11 9 125 5 4 2,072 19 7 132 5 ;■; 2,910 0 0 16,457 15 10 8,228 17 10 8,228 18 0 Hawke's Bay ... 1,336 16 5 2,975 0 10 155 10 0 42 8 0 0 17 6 983 5 8 146 16 6 0 8 3 5,610 3 2 2,820 1 7 2,820 1 7 Nelson 1,300 2 0 1,809 0 11 436 10 4 107 4 7 1,608 18 5 45 2 0 0 10 0 5,367 8 3 2,683 14 1 2,683 11 2 Maryborough ... 256 10 5 538 5 1 1 5 10 12 0 9 0 10 0 80S 12 1 404 G 0 404 6 1 Canterbury 6,777 18 9 9,635 1 1 732 11 8 123 1 5 66 18 7 4,892 10 10 235 12 8 519 19 6 23,013 17 6 11,506 18 10 11,506 18 8 Westland 1,382 16 0 1,505 14 8 172 19 0 33 1 5 20 8 4 3,114 19 5 j 1,557 9 8 1,657 9 9 Otago, — ... 9,249 11 2 15,176 9 4 2,411 15 0 1,786 9 3 35 12 5 5,574 10 10 207 14 4 1,658 0 0 36,100 2 4) [ 19,136 2 3 2,772 2 0 ) 19,130 2 1 Dunedin ... Invercargill ... 508 7 10 1,752 13 5 295 1 3 59 16 6 66 3 0 30,333 19 6 2,712 0 7 16,705 13 8 1,143 18 3 5,626 9 6 8 5 6 110,641 0 3 I 55,322 0 1 55,319 0 2 43,265 2 2 5,529 17 5 S10 13 8

8.—2

32

Table H (2). COMPARATIVE RETURN of CUSTOMS REVENUE at the several Ports of New Zealand for the Financial Years 1873-74 and 1874-75.

Table H (3). RETURN of the GROSS CUSTOMS REVENUE for each Quarter, from September Quarter, 1863, to the Quarter ended 30th June, 1875, inclusive.

Poets. Financial Yeae 1873-74. Financial Yeae 1874-75. Incbease. Decrease. £ s.« d. 212,539 12 0 8,847 12 10 1,063 7 9 600 12 3 1,007 13 2 336 10 5 5,119 17 2 7,138 18 1 23,919 6 0 106,048 3 2 39,297 3 2 5,554 15 8 1,512-19 7 793 7 9 727 9 8 41,315 19 2 18,245 19 10 43,100 8 7 36,795 12 2 978 7 8 155,768 6 0 209 7 4 18,310 16 0 10,013 0 11 335,990 18 8 28,368 3 10 5,073 0 11 Nil. £ s. d. 234,322 14 1 10,498 9 11 969 6 4 557 18 1 1,579 5 2 451 11 5 6,491 6 6 8,078 13 6 86,864 8 1 137,507 5 9 43,139 3 8 5,696 8 6 1,501 16 5 791 15 9 888 12 10 42,159 3 10 18,421 13 10 41,238 12 7 34,942 16 8 282 13 2 169,374 6 3 158 19 3 23,685 18 0 9,807 11 10 362,622 10 4 35,847 7 4 5,902 19 6 2 10 10 £ 8. d. 21,783 2 1 1,650 17 1 £ b. d. Auckland ... Thames ... ... Russell ... ... Hangonui Hokianga ... ... Tauranga ... ... Poverty Bay... ... New Plymouth Wanganui Wellington ... Napier .., Wairau ... Picton Havelock Kaikoura Nelson Westpoit ... Greymouth ... Hokitika Okarito Lyttelton and Christchurch Akaroa Timaru Oamaru Dunedin Inra-cargill and Bluff... Riverton •Chathams L 571 12 0 115 1 0 1,371 9 4 939 15 5 2,435 2 1 31,459 2 7 3,842 0 6 141 12 10 161 3 2 843 4 8 175 14 0 94 1 5 42 14 2 11 3 2 1 12 0 1,861 1G 0 1,852 15 6 695 14 6 13,606 0 3 50 8 1 5,375 2 0 205 9 1 26,631 11 8 7,479 3 6 829 18 7 2 10 10 1,108,677 9 9 1,223,275 19 5 119,414 3 7 4,815 13 11 Increase, £114,598 9s. 8d. 18 for June Quarter, 1875, not received.

Financial Yeae 1863-64. September Quarter £145,594} December „ ... ... 171,001 f j?eii7nn9 March „ 147,7781 June ,, 152,629; Financial Yeab 1869-70. Sentembor Quarter £205,100 December „ 215,677 March „ 199,604 June „ 187,981 £808,422 Financial Yeae 1864-65. September Quarter £140,872} December „ ... ... 150,995 f j?<mq otw March „ 167,690 f fcb4d >-y7 June „ 183,740 ) Financial Yeab 1870-71. September Quarter £190,499 December „ 187,752 March „ 171,479 June „ 183,570 £733,300 Financial Year 1865-66. Financial Yeae 1871-72. September Quarter £183,722 ~) December „ 193,079 f „,„„, March „ 196,283 C *-"°>-U3 June „ 202,909 ) September Quarter £180,160} December „ 198,418 f j?» qfi 007 March „ 208,794 f June „ 208,855 J Financial Yeab 1866-67. Financial Year 1872-73. September Quarter £203,277) December „ 210,807 f ™ wa1 , March „ 210,466 C £85o >812 June „ 281,262 J September Quarter £199,452 December „ 227,253 March „ 220,183 June „ 217,780 £864,668 Financial Yeab 1867-68. September Quarter £196,916 December „ 209,118 March „ 194,618 June * „ 192,742 FmtNOIAl Yeae 1873-74. September Quarter £243,325") December „ 280,748 f Net. March „ 297,810 f £1,108,677 June „ 286,794; £793,394 Financial Yeab 1868-69. Financial Yeab 1874-75. September Quarter £311,631 ■) December „ 292,758 ( Net. March „ - 320,523 I £1,223,276 June „ 208,36-1^ September Quarter £191,607} December „ 209,862 f „„. ,„. March „ 189,590 f i80i.-04 Juue „ 213,145;

8.—2.

Table H (4). RETURN of the VALUE of IMPORTS and EXPORTS at each Port of New Zealand for the Financial Year ending 30th June, 1875.

33

Vaute op Ijipoets. Value op Expoets. Poets. [arters endi Quarters ended Sept. 30. Dec. 31. Mar. 31. June 30. Totals. Sept. 30. Dec. 31. Mar. 31. Juno 30. Totals. £ £ £ £ £ £ £ £ £ £ Auckland 510,508 290,630 506,303 273,934 1,581,555 121,073 181,057 223,328 117,673 646,731 Thames 8,592 3,593 5,797 6,370 24,352 450 135 585 Russell 118 80 1,013 1,194 2,405 384 488 1,434 2,306 Mongonui 3 177 180 408 48 # 451 Hokianga l,200 i 1.5S2 450 3,780 7,012 Kaipara 3,487 3,487 Tauranga 185 185 PoTerty Bny ... 187 7,475 595 1,415 9,672 14,080 14,080 New Plymouth 3,175 5,831 5,526 8,636 23,168 1,963 45 2,008 AVaiiganui 17,520 15,090 19,7C5 19,849 72,224 623 623 Wellington 346,586 256,146 320,680 369,488 1,292,900 31,298 85,964 277,129 193,160 587,551 Napier 55,753 59,979 60,146 36,092 211,975 4,976 230,085 20,596 255,657 Wairau 2,062 1,433 3,759 2,041 9,295 38,113 38,113 Picton 450 954 638 872 2,914 2,130 930 2,766 5,826 Havelock 180 179 709 1,068 Kaikoura 45 104 338 9 496 Nelson 71,796 91,136 86,553 76,075 328,560 9,999 31,001 5,475 65,877 112,952 Westport 8,018 25,651 13,129 18,904 65,702 34,341 31,130 25,599 22,478 113,548 Grey mouth 41,148 63,876 34,618 44,523 184,165 08,463 75,177 102,647 44,307 290,594 Hokitika 35,216 54,546 24,374 40,509 154,645 54,594 41,450 54,913 43,607 194,564 Okarito Port closed. Port closed. Lyttelton 340,594 313,896 318,883 208,603 1,181,976 98,420 69,619 610,103 306,045 1,084,187 Akaroa 689 689 Timaru 23,534 25,459 31,578 26,554 107,125 2,613 3,975 3,626 10,214 Oamaru 6,227 8,254 13,441 10,205 38,127 3,064 8,476 11,540 Duncdin 754,528 557,723 977,641 538,194 2,828,086 210,207 220,657 877,124 402,249 1,710,237 Invereargilland") Bluff Harbour J 51,448 72,260 64,213 47,259 235,lS0 25,851 14,375 181,217 119,461 340,904 Riverton 2,763 2,416 5,283 6,005 16,467 230 200 430 Chatham Islands Totals 2,280,543 1,859,899 2,494,363 1,738,306 8,373,111 068,788 773,181 2,638,482 1,353,149 5,433,600 Year 1873-74 ... 1,473,261 1,786,311 2,120,669 1,860,821 7,241,002 800,597 915,787 2,293,814 1,511,602 5,521,800 Xote. —Toial ExpoEia for Juno ;uarter should bo £1,383,149, irror of £30,003 in Beturn from Orreyinoutli. *5.—B. 2.

8.—2.

Table H (5). RETURN of the VALUE of IMPORTS and EXPORTS for each Province for the Financial Year ended 30th June, 1874.

Table H (6). RETURN of the QUANTITY of FLOUR and GRAIN Imported into and Exported from New Zealand for the Ten Years ended 31st December, 1874.

34

Provinces. Value OF Value op Imports. Exports. Auckland £ 1,618,349 £ 674,652 Taranaki 23,168 2,008 Wellington 1,365,124 588,174 Hawke's Bay 211,975 255,057 Harlborough 13,773 43,939 Nelson 394,202 226,500 Westland 338,810 485,158 Canterbury 1,289,790 1,094,401 Otago ... 3,117,800 2,063,111 Totals 8,373,111 5,433,600

tee. 1866. 181 17. 18 18. ISi ;:>. Imports Exports. Imports. Exports. Imports. Exports. Imports. Exports. Imports. Exports. Flour ... tons 19,801 1 23,264 2\ 8,098 971 i 8,871 153J 6.347J 504 Grain— Barley ... bushels 2,390 28,966 392 413 9,258 15,031 51,366 1,600 92,557 18,904 Make ... „ 133,975 125,680 114,566 86,701 1,150 107,425 Oats 99,295 19,584 89,043 27,449 65,072 17,639 10,227 481,533 1,606 342,677 Wheat 331,116 3,473 266,186 4.7G9 235,473 131,915 188,477 91,297 183,256 81,758 Other kinds „ 2,024 1870. 1871. IS' % 1873. Iff 'I, Imports Exports. Imports. Exports. Imports. Exports. Imports. Exports. Imports. Exports. Flour ,,. tons 4,759 737* 5,776J 926| 3,63 U 5171 4,286f 934JJ 3.433J 2,226 Grain— Barley ... bushels 1,058 114,915 50 156,213 249 11,537 70,344 247 8,780 90,081 Maize ... „ 88,583 310 112,624 108 233.204J 130 168,174 122,2711 Oats 9,618 340,205 215 594,149 275 565,901 385 49,487 22,624 135,959 Wheat ... „ 80,011 387,185 158,871 271,911 72,7741 477,435 59,182 538,227 8,818 \ 933,314 Other kinds „ 331 54 1,846 1,339 \ 3,389 731 24

35

8.-2.

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 1874-75,

Four Quarters ended 30th June, 1875. Four Quarters ended 30th June, 1874. Total Exported tor the Four Quarters ended 30th June, 1875. Total Exported por tiie Four Quarters ended 30th Jj?ne, 1874. Exporting Ports. Produce of Quarters ended Quarters ended tiie Province ob 30th Sept. 31st Dee. 31st March. 30th June. 30th Sept. 31st Dec. ■31st March. 30th June. | Quantities. I Declared Value. Quantities. Declared Value. Oz. Oz. Oz. Oz. Oz. Oz. Oz. Oz. Oz. £ Oz. £ Auckland .., ... Auckland 19,414 20,335 18,627 10,966 34,271 20,195 15,566 21,587 69,342 271,422 91,619 362,661 Thames ... ,» 8 8 29 Picton ... ,., Marlborough 533 233 691 108 108 209 1,457 5,826 425 1,698 Wellington )j 125 98 125 460 98 392 ,, ... •■■ Nelson 1,709 2,094 133 3,655 1,518 2,668 1,156 683 7,591 29,733 6,025 24,073 Westport ... ii 8,511 7,397 6,323 5,436 8,769 9,150 10,385 7,390 27,607 110,813 35,694 143,577 Greymouth »» 10,215 12,320 18,672 12,303 14,260 11,649 12,298 11,569 53,510 214,051 49,776 199,099 ,, ... Wcstland 6,546 5,973 6,722 5,545 7,220 6,370 7,398 7,213 24,786 99,135 28, 201 112,788 Hokitika ... n 13,188 9,343 13,057 10,726 17,647 12,986 12,901 14,028 46,314 185,259 57,562 231,247 Okarito ... ,i Port closed. 1,208 1,319 243 610 3,380 13,520 Dunedin ,,, ,,, Otago 25,539 30,324 31,500 29,603 22,794 41,143 47,157 27,724 116,966 470,578 138,818 | 559,512 i Inyercargill » 1,003 1,395 1,956 724 751 1,142 1,536 363 5,078 20,551 3,792 15,165 Eirerton ... ,» 66 66 230 ... Totals ... 86,783 89,480 97,681 78,958 108,546 1,663,761 106,730 108,949 91,175 352,902 1,408,058 415,398

B—2

36

Table H (8). RETURN showing the AMOUNT and VALUE of GOLD EXPORTED during the Financial Years from 1858-59 to 1874-75.

* 1861-62. 1862-63. 1863-64. 1864-65. 1865-66. 1866-67. 1858-59. 1859-60. 1860-61. Oz. Value. Oz. Value. Oz. Value. Oz. Value. Oz. Value. Oz. Value. Oz. Value. Oz. Value. Oz. Value. * £ £ 11,627 £ 8,847 Auckland ... Wellington ,., Nelson .., Marlborougli Canterbury ... Westlaud ... Otago ... Southland ... O £ t 4,337 £ 13,689 3,910 £ 11,878 3,853 £ 5,410 16,197 4,368 I ... 3 1 o i ... ... ... ... 8,873 34,381 10,772 7,205 23 41,745 27,919 91 27,720 22,424 57,025 107,491 85,878 " 226,573 135,275 524,199 2,418 9,373 390,238 | 1,512,093 203,850 789,919 1,625 6,297 168,044 532 337,837 651,173 2,061 1,309,120 ... 491,686 1,905^284 537,817 2,081,039 309,576 1,109,610 154,973 8,701 600,521 34,067 Totals 9,482 36,747 6,147 559,727 2,165,672 420,598 2,605,7S9 23,818 6,341 24,568 449,279 1,740,956 504,896 1,953,354 1,631,179 738,810 2,858,078 674,545 18G7-G8. 1868-69. 18G9-70. 1870-71. 1871--72. 1872-73. 1873-74. 1874-75. Oz. Value. Oz. Value. Oz. Value. Oz. Valuo. Oz. Value. Oz. Value. Oz. Value. Oz. Value. £ 73,966 90,900 £ 286,335 £ 114,612 402,998 30 120 148,072 593,182 1,337 5,348 158,506 634,099 *156,869 *627,562 579,456 2,263,309 £ 657,098 I 252,792 £ 905,626 98,172 £ 335,339 £ 362,090 £ 271,422 Auckland Wellington ... Nelson Marlborough ... Canterbury ... Westland Otago Southland 22,984 241,031 700 147,248 106,442 149,545 10,703 964,121 2,800 588,992 425,768 598,180 42,812 180,924 166 723,696 664 181,427 121,996 2,006 487,984 8,024 109,863 1,905 439,464 7,620 84,534 2,085 338,136 8,340 91,687 91,405 523 366,749 2,090 69,342 88,768 1,582 354,597 6,286 184,648 155,072 4,099 738,592 620,288 16,396 136,101 *178,359 544,404 * 713,436 128.082 11 169,996 512,328 93,501 373,016 89,143 357,555 7i,100 284,394 679,984 169,464 677,856 142,610 574,677 122,110 491,359 ' Totals 678,653 2,696,642 615,809 2,385,971 | 619,889 2,545,022 447,759 1,732,687 2,410,946 662,611 415,398 1,663,761 352,902 1,408,058 • Including late Province of Southland; Total Amount op Gold Expobted ... Total Value op Gold Exported 7,776,612 Ounces. ... £30,281,409

37

8.—2

Table H (9). RETURN showing the QUANTITY and VALUE of WOOL EXPORTED from New Zealand during the under-mentioned Periods.

1867. 1868. 1869. 1870. . 1871. 1872. 1873. 1874. Peovinces. Quantity. Yalue. Quantity. Value. Quantity. Value. Quantity. Value. Quantity. Value. Quantity. Value. Quantity. Value. Quantity. Value. J ■ ! 1 lbs. £ 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 68,778 813,059 64,008 1,324,109 86,850 1,612,976 99,695 Taranaki ... 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 5,896,653 422,744 7,360,819 474,296 Hawke's Bay 1,136,819 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 3,070,870 205,426 2,379,477 142,793 Marlborougli 1,058,005 46,803 1,421,180 35,642 1,473,601 50,546 1,381,7G9 53,188 1,605,074 48,967 1,611,424 73,225 1,440,998 63,995 1,501,184 71,327 Nelson 534,297 28,590 600,701 29,132 294,019 11,251 354,126 12,690 292,314 13,102 356,021 20,661 83,323 5,027 472,139 26,794 Canterbury 11,232,948 627,678 10,862,937 576,076 'lO,O13,395 387,557 12,485,720 489,938 12,744,148 495,843 11,741,333 663,090 11,879,711 727,259 14,237,766 815,127 Westland ... 31,850 1,180 15,506 890 40,277 1,711 62,230 2,603 40,760 2,751 61,100 i 4,287 31,852 2,389 Otago 8,317,079 479,927 8,204,211 452,734 8,926,812 528,891 11,617,926 564,654 13,553,570 502,112 1 19,150,174 1,166,922 17,778,421 1,186,883 19,252,522 1,202,274 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 ... I I ! 27,152,906 1,580,608 28,875,163 1,516,548 27,765,036 1,371,230 37,039,763 1,703,944 37,793,734 1,606,144 41,886,997 2,537,919 41,535,185 2,702,471 46,848,735 2,834,695

8.—2

38

Table H (10). RETURN showing the VALUE of NEW ZEALAND PHORMIUM EXPORTED during the under-mentioned Periods.

Table I. STATEMENT of CAPITATION and SPECIAL ALLOWANCES to the several PROVINCES for the Financial Year 1875-76.

Peotinces. 1867. 1868. 1869. 1870. 1871. 1872. 1873. 1874. £ £ £ £ £ £ £ £ Auckland 3,575 5,664 24,013 42,827 26,882 37,972 32,006 14,915 Taranaki 88 80 Wellington 75 1,158 21,264 18,987 24,159 45,879 10,335 Hawke's Bay ... 575 3 185 Marlborough ... 790 3,065 6,469 4,750 2,966 Nelson 42 1,694 3,058 2,024 6,394 3,842 Canterbury 70 487 16,840 52,006 26,160 13,733 35,317 3,2G1 Otago ... 287 1,585 3,098 9,968 I 12,456 : 14,775 19,373 2,371 Southland 324 326 95 3,451 Totals 4,256 8,137 45,246 132,578 90,611 99,405 143,799 37,690

Pbovinces. Population. Capitation Bate. Capitation Allowance foe Foue Months. Special Allowance toe Foue Months. Total. £ s. d. £ s. d. £ s. d. Auckland ... 75,674 15s. f- an. 18,918 10 0 1,333 6 8 20,251 16 8 Taranaki 6,824 J) 1,706 0 0 83 6 8 1,789 6 8 Wellington 37,456 )» 9,364 0 0 250 0 0 9,614 0 0 Hawke's Bay 12,353 J) 3,088 5 0 500 0 0 3,588 5 0 Nelson 24,408 )} 6,102 0 0 6,102 0 0 Marlborough 6,999 a 1,749 15 0 1,749 15 0 Canterbury 75,093 » 18,773 5 0 18,773 5 0 Westland ... 15,602 » 3,900 10 0 650 1 8 4,550 11 8 Otago 103,424 t> 25,856 0 0 25,856 0 0 Totals 357,833 89,458 5 0 2,816 15 0 92,275 0 0

39

8.—2

Table K. RETURN of the TOTAL VALUE of IMPORTS and EXPORTS of VICTORIA, NEW SOUTH WALES, and NEW ZEALAND, for the Eight Years ending 31st December, 1873, with the Rate per head of Population.

VICTORIA. NEW SOUTH WALES. NEW ZEALAND. Yeaes. Imposts. Expoets. Imports. Exports. Impoets. Exports. Population. Population. Population. Value. Kate. Value. Rate. Value. Rate. Value. Rate. Value. Rate. Value. Rate. £ 11,315,638 £ s. d. 17 11 5 £ 9,433,473 £ s. d. 14 13 0 £ 6,412,442 £ s. d. 14 17 3 £ 6,057,585 £ s. d. 14 0 9 £ 5,657,601 £ s. d. 27 2 3 £ £ s. d. 4,390,100 21 1 4 1866 643,912 431,412 208,682 1867 659,887 8,921,986 13 7 4 9,972,333 15 2 3 447,620 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 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 1G 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 1 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 4,514,682 I 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 8,048,426 15 10 0 266,986 3,967,098 14 17 2 5,171,051- 19 7 4 5,107,186 18 5 4 1872 770,727 11,220,668 14 11 2 10,758,658 13 19 2 539,190 6,183,441 11 9 4 5,601,982 10 7 9 279,560 5,059,472 18 1 11 1873 790,492 13,108,109 16 11 7 11,976,707 15 3 0 560,275 8,018,399 14 6 2 6,870,433 12 5 3 295,946 6,332,295 21 7 11 5,477,979 18 10 2 NEW ZEALAND, including Aboeigi: fal Natives, 46,000 in Number to end of 1872. AvEEAGE OF ElGHT YEAES. IlirOETS. Exports. Imports. Exports. Y'eaes. Population. Population. Value. Rale. Value. Rate. Value. Rate. Value. Rate. 1866 247,222 £ 5,657,601 £ s. d. 22 17 8 £ 4,396,100 £ s. d. 17 15 8 £ £ s. d. £ £ s. d. 1867 257,208 5,179,393 20 2 9 4,479,461 17 7 6 Victoria 10,250,035 14 5 9 10,454,228 14 11 6 1863 264,518 4,825,312 18 4 10 4,268,762 16 2 9 717,173 1869 273,249 4,811,400 17 14 4 4,090,134 14 19 4 New South Wales 49i,082 6,360,801 12 17 5 6,308,678 12 15 5 1870 284,400 4,360,941 15 G 7 4,514,682 15 19 8 New Zealand 247,763 5,027,939 20 5 10 4,691,920 IS 18 8 1871 302.9S6 3,967,098 13 1 10 5,171,054 19 7 4 Ditto, including Natives 287,011 5,027,939 17 10 4 4,691,920 1G 6 11 1872 325,560 5,059,472 15 10 9 5,107,186 15 13 8 1873 340,946 6,332,295 18 11 5 5,477,979 16 1 4 In this Table the British and Foreign goods exported fr< im each coloi >ny has been deducted from both Imports and Exports, leaving as Iin] "aetures of such colony. Aboriginal population in 1873 estimated at iorts the goods retained in the colony, and for Exports tin 15,000. produce or manufi

8.—2

40

Table 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 Seven Years ending 31st December, 1874, with the Rate per head of Population.

Yeae .867. Aeticles. Victoi •ia. New Soutl Wales. New Zei iland. Value. Rate. Value. Hate. Value. Bate. Gold Wool Agricultural Produce Timber ... Flax £ 5,738,993 3,650,611 122,972 2,960 £ s. d. 8 14 0 5 10 7 0 3 7 0 0 1 £ 129,619 1,711,322 198,916 17,541 £ b. d. 0 5 9 3 16 5 0 8 10 0 0 10 £ 2.724,276 1,580,608 37,532 16,105 4,256 £ s. d. 12 9 2 7 4 7 0 3 5 0 15 0 0 5 Totals ... 9,515,536 4,362,777 19 19 0 14 8 3 2,057,398 4 11 10 UB 1868. Gold Wool Agricultural Produce Timber ... Flax 6,629,465 4,567,182 194,350 8,024 9 13 9 6 13 5 0 5 8 0 0 3 125,293 1,879,751 264,277 12,707 0 5 4 4 0 6 0 11 3 0 0 8 2,492,721 1,516,548 127,704 15,653 8,137 11 0 0 6 13 10 0 11 3 0 14 0 0 9 Totals ... 11,399,021 16 13 1 2,282,028 4 17 9 4,160,763 18 7 2 EAE 1869. Gold Wool Agricultural Produce Timber ... Flax 5,363,759 3,235,091 58,983 7,552 7 10 10 4 11 0 0 18 0 0 2 309,053 3,162,522 296,562 23,159 0 12 9 6 10 4 0 12 2 0 0 10 2,341,592 1,371,230 142,307 22,338 45,245 9 17 5 5 15 7 0 12 0 0 1 10 0 3 10 Totals ... 8,665,385 3,791,296 7 16 1 3,922,712 16 10 8 12 3 8 !AE 1870. Gold Wool Agricultural Produce Timber ... Flax 4,891,781 3,119,899 99,898 1,003 6 15 0 4 6 1 0 2 9 386,930 2,741,141 165,894 22,037 0 15 4 5 9 0 0 6 7 0 0 10 2,163,910 1,703,944 183,472 18,323 132,578 8 14 3 6 17 2 0 14 9 0 16 0 10 8 Totals ... 8,112,581 11 3 10 3,316,002 6 11 9 4,202,227 16 10 8 'eak 1871. Gold Wool Agricultural Produce Timber ... Flax 5,423,687 4,287,011 75,924 6,733 7 4 1 5 13 1 0 2 0 0 0 2 353,356 4,748,160 157,367 58,371 0 13 7 9 2 10 0 6 0 0 2 3 2,788,368 1,606,144 203,506 20,479 90,611 10 8 10 6 0 3 0 15 3 0 16 0 6 10 Totals ... 9,793,355 12 19 4 5,317,254 10 4 8 j 4,709,108 17 12 8 Yeae 1872. Gold Wool Agricultural Produce Timber ... Flax 4,644,434 4,260,801 104,323 1,515 6 0 6! 5 10 6 0 2 8! ::: 454,468 0 16 10 3,312,900 6 3 11 210,065 0 7 9 36,160 0 14 1,730,992 2,537,919 205,654 27,373 99,405 6 3 10 9 16 0 14 8 0 1 11 0 7 1 Totals ... 9,011,073 11 13 8 j 4,043,593 7 9 10 4,601,343 16 9 0 Yeab 1873. Gold Wool Agricultural Produce Timber ... Flax 4,632,941 5 17 2 443,429 0 15 9 4,809,205 6 18 2,201,910 3 18 7 91,982 0 2 3 242,529 0 8 7 1,069 ... 54,999 Oil 9,535,197 12 1 1 j 2,942,867 i 5 4 0 I 1,987,425 2,702,471 164,950 44,390 143,799 5,043,035 6 14 3 9 2 7 0 11 1 0 2 11 0 9 8 Totals ... 17 0 6

41

8.—2

Fable In.—continued. EETUBN showing t! ie Value of Gold, "Wool, Grain, &c. — c< United. Average of Seven Yeabi Abticlbs. Victoria. New South Wales. New Zei ilaml. • Value. Kate. Value. Rate. Value. Bate. Gold Wool Agricultural Produce Timber ... Flax £ 5,332,152 3,989,971 106,918 4,122 £ s. d. 7 6 6 5 9 8 0 2 11 0 0 1 £ 314,592 2,826,815 219,372 32,139 £ s. d. 0 12 6 5 12 4 0 8 8 0 13 £ 2,318,469 1,859,838 152,161 23,523 74,862 £ 8. d. 9 3 0 7 6 9 0 12 0 0 1 10 0 5 10 Totals ... 9,433,163 12 19 2 3,392,918 6 14 9 4,428,853 17 9 5 Bj Authority: Q-bobgb Didsbubt, Government Printer, Wellington. Price, 2#. 6rf.]