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1885. NEW ZEALAND.
FINANCIAL STATEMENT (In Committee of Ways and Means, Friday, 19th June, 1885.) BY THE COLONIAL TREASURER, THE HONOURABLE SIR J. VOGEL.
Me. Hamlin, — I have too often addressed the Committee upon occasions like this not to feel certain that I shall receive from honourable members a kindly and con-" siderate hearing. EEVENUE AND EXPENDITUBE, 1884-85. The general results of the year have already been published, and it is - only necessary I should briefly recapitulate them. The year 1884-85 was commenced with a deficit of £152,112. For £150,000 of this amount deficiency bills were authorized to be issued, maturing on the 31st March, 1886; the balance of £2,112 was discharged out of the year's revenue. I proposed last year that the £150,000 should not be turned into a permanent debt, and I still hold to the same view. We must pay the amount off in the course of two or three years. The transactions of the consolidated revenue for the year 1884-85, after discharging the deficit of £2,112 and leaving outstanding the £150,000, shows a credit balance of £19,891, or, exclusive of the small deficit paid off, a surplus of £22,003. The total consolidated revenue of the year amounted to £3,569,494. There was a deficiency in the item of stamps, principally occasioned by an expected increase of postal revenue having by accident been twice credited in the estimate. The railways also showed some deficiency, whilst the Customs exceeded to a small extent the estimate. The total deficiency in the estimate was £22,016. The expenditure, on the other hand, was less than the amount voted, by £23,852, inclusive of £5,982 expended on services unprovided for, so that the result was the surplus in the year's transactions which I have already stated. Honourable members will bear in mind that the surplus of £60,000 anticipated in the Budget last year was reduced subsequently by the Supplementary Estimates and votes. In the revenue was included an amount of £247,700, the proceeds of debentures issued under "The Consolidated Stock Act, 1884." Honourable members are aware that this amount was issued to represent the equivalent of the increase of the sinking fund for the year. I shall, later on, ask the attention of the Committee to this subject. The expenditure for 1884-85 includes the undischarged liabilities of the previous year, according to the plan, introduced in 1880, of bringing only into the year's accounts the actual expenditure and receipts within that period.
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LAND FUND, 1884-85. The Land Fund Account at the close of the year 1883-84 showed a balance of £80,447. The revenue received during the past year amounted to £160,969, of which £92,432 was for cash sales of land, and £68,537 for sales on deferred payments. The expenditure amounted to £209,485 ; so that at the beginning of the present financial year there was a credit balance of £31,931. PUBLIC WOBKS EUND, 1884-85. The balance at credit of the Public Works Fund at the end of March, 1884, was £488,912. From the instalments of the loan of one million negotiated in January, 1884, £389,000 came to credit after March of that year, and, from instalments of the million loan negotiated in January last, £845,000 came to credit before the end of March, 1885. There was also an amount of £100,000 from deficiency bills, authorized, to be issued last year in aid of the Public Works Fund, redeemable at the end of the present month; and we further obtained £500,000 of temporary advances. The total amount placed at credit of the Public Works Fund during the year 1884-85 was £2,327,025. The expenditure amounted to £1,336,727, leaving £990,298 at the end of March last with which to begin the year. In addition thereto we had the balance of the third instalment of the three million loan to receive, £155,000, also the new loan of £1,500,000 recently raised, amounting in all to £2,645,298: subject, however, to the redemption of deficiency bills, £100,000; the repayment of temporary advances, £500,000 ; and the advances to be accounted for in the hands of officers, £250,000. THE BUBLIC DEBT. The amount of the public debt on the 31st March, 1884, less the Sinking Fund Account, was £29,574,903. The amount of that debt on the 31st March, 1885, was £30,649,099. It was increased by fresh issues and conversions—the conversions from a higher to a lower rate of interest, of course, having a tendency to a larger principal amount but a less annual charge. The annual charge last year was £1,570,989, whilst this year it is £1,593,692, exclusive of interest on deficiency bills, and on the million and a half loan. The increased annual charge is to be accounted for by the interest on the additional million, and by £64,000, which, owing to the conversion operations, escaped coining into charge during 1884-85. In referring to this item last year I estimated it at about £50,000 only. On the other hand, there are reductions consequent on conversions. As we have not the particulars of the new issue of debentures to take up the converted drawing debentures, we estimate the interest for these under the old head, as also the sinking fund. Under the authority of " The Consolidated Stock Act, 1884," we have issued debentures to the amount of £108,800 to replace two amounts of £20,900 and £87,900, respectively, issued under the General Purpose Loan Act, which had fallen in for payment, and £3,000 under " The Nelson Loan Act, 1874." Early in January the third and last million of the three-million loan of 1882 was negotiated with excellent results. The average rate obtained was £99 10s. ld. for each hundred. Considering the quotation for consols and the Bank of England rate of interest ruling at the time, the price was exceedingly satisfactory. The million and a half loan authorized last year has quite recently been negotiated at a still better figure, namely, an average price of £100 6s. 3d. As consols are lower in price than in January last, this result must be considered still more gratifying, and a comparison with the rates obtained for other loans enhances the gratification. Honourable members are aware that, within a few days of each other, three loans, besides our own, were placed in the market, namely, those of Victoria, Queensland, and South Australia. It is impossible to tell the exact rate yielded by a loan from the selling price, because there is always included more or less of allowances in the shape of advantages of accrued interest and discount. I asked the Loan Agents to cable me the net results of the four loans, and honourable members will be pleased, whilst the pessimists amongst them will be surprised, to learn that the New Zealand loan fetched the highest price of all. This is the telegram received from the Agent-General:—" Net price, deducting interest, discount: Victoria, £99 4s. 3d.; Queensland, £97 3s. lOd.; New Zealand,
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£99 Bs. 2d.; Adelaide, £99 ss. 6d.:" so that we were nearly a fifth per cent, better than Victoria, an eighth per cent, better than South Australia, and more than two per cent, better than Queensland. It is right, however, to say that the Victorian loan was larger in amount, and that during the few days interim the market had somewhat improved. Still, we cannot avoid seeing that we are fortunate in the judgment of our Loan Agents, and in the great strength of the immediate issuer of our loans—the Bank of England. In relation to the prices for colonial stocks that ruled during a portion of last year, honourable members should recollect that there was a considerable fall m the value of colonial securities after the failure of Mr. Childers's scheme to convert consols became evident. LOAN CONVEESIONS. The loan-conversion transactions during the year comprise, amongst others, the paying off the unconverted balance of 5 per cent. 5-305—£745,600. We have also converted £3,642,100 of consolidated drawing debentures ; but, before I refer to this operation, I should like to say a few words concerning the Consolidated Stock Act of last session under which it was effected. It will be remembered that this Act, which had for its objects the facilitating the conversion of loans, and the saving the country the burden of the sinking funds whilst contemporaneous fresh loans were being issued, met with considerable opposition. There was at first great difficulty in making its operation understood. I have seen it stated in newspapers in the colony since last session that we had stopped paying the sinking fund. A very general statement has also been made that we were using the accruino- sinking fund, and I need not remind you of the unkind anticipations which were indulged in that the credit, of the colony would be injured by it. I claim a triumphant answer to all the opposition the Bill met with, m the brilliant success of its operations, and in its having entirely failed to do any injury to the credit of the colony. Do not let it be supposed that it escaped criticism : some active enmity survived the session. A cablegram was even sent out from England which appeared in all the newspapers m the colony, that the Stock Exchange objected to the Act. On what this cablegram was founded I have not 'been able to discover. I have heard of no objection taken by the Stock Exchange, nor bv any prominent members thereof. But the Act was well considered at Home, and full explanation of it made to the Bank of England, through which great institution we emit our loans and conduct our conversion operations, subject to the directions of the Loan Agents. The Agent-General also, in the statistical paper with which it is usual to accompany a loan, elaborately explained the effect of the Act on the sinking funds. . ....,'. ~, That the Act and the operations proposed under it did not injure our credit is shown by the negotiation of the loans to which I have already referred. That it has been a splendidly useful Act is proved by the fact that through its agency we have converted £3,642,100 of the £5,772,500 of consolidated (drawing) debentures left undrawn. This was the immediate action of the measure for which I had to undertake an amount of personal responsibility last session which at times almost frightened me, thoroughly convinced though I was of its value. The majority of honourable members whom I address are aware of the effect of the Act of last session. They know that it neither suspended the payment of sinking funds which we had engaged to pay, nor enabled us to use accrued sinking funds until thorough provision was made for the loans to which they belonged. The Act simply provided that we might create debentures to an amount commensurate with the growth of the sinking funds from and after the end of March, 1884—those debentures to be extinguished by the proceeds of the sinking funds when they came to be realized. 1 bus if the sinking funds increased by a quarter of a million during the year 1884-85 we were to create debentures to that amount. It could not be said that the creation of these debentures increased our indebtedness—it left it precisely where it was _and this was to be continued in anticipation of conversions If we issued under the provisions relating to sinking funds a million of new bonds, a million, m addition to the accumulations to the end of March, 1884, would have to stand to our credit in the sinking funds. During the year past we issued debentures lor A24 /, /00,
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that being the amount which it was computed by the Treasury and Audit Departments would represent the accretions of the sinking funds during the year 1884-85. If the matter were left there I should claim that we had successfully effected a legitimate operation of compensating the revenue to the amount of the year's increases of the sinking funds by issuing fresh obligations to be afterwards discharged out of those increases. But, indeed, I have been able to go much further. No less than £71,400 of converted bonds came in for payment under the March drawing. The money for those is paid us by the Crown Agents, and of the debentures issued the first year we extinguish at once £71,400. So that within a few months of the Act passing we were enabled, by conversion operations, to extinguish nearly a third of the first year's debentures. Of the debentures remaining of last year, and those we shall issue this year, if the conversion proceed no further than it has already, we shall probably be able to extinguish over £100,000 from the result of the next drawing in March. . Many members who opposed the Bill last year did so conscientiously, and I appeal to their generosity not to allow the opinions they then entertained to prevent their now admitting that the measure was a fair one, and calculated to legitimately assist the finances of the colony. As regards the terms of the conversion: we give, for the consolidated bonds, other bonds bearing 5 per cent, interest for seven years without a sinking fund; at the end of the seven years we give 4-per-cent. inscribed stock for the 5-per-cent. debentures, at the rate of 107 for each hundred. Practically the result means this: the same annual charge for seven years less the sinking fund, and thereafter a saving of a little over J per cent, on the annual charge, after taking into consideration the expenses and a sufficient annual provision to extinguish the additional capital stock. I may say in reference to the other financial Acts of last session that the Westland and Greymouth Harbour Acts justified my expectation. It will be recollected that I contended it would be better to guarantee the debentures, and not to borrow for the Boards. It proved as I expected. When the Bank of England and the market asked us to undertake'not to borrow further until the end of March, 1886, they had no difficulty in excepting from such engagement the guaranteed debentures of the Harbour Board. The guaranteed debentures have realized a fair price. It was to be expected that, not being directly issued by the Government, to say nothing of their not being inscribed stock, they would yield less than our ordinary loans. The Harbour Boards obtain their money on splendid terms, whilst the Government runs no risk, since it is secured by funds of the Boards accruing in its hands. I have now a grateful task to perform, to express to the Loan Agents the profound thanks and acknowledgments of the Government for the excellence of their judgment and for their zealous, able, and loyal services. Notwithstanding the great distance that separated us, we have been able to act in concert as harmoniously and satisfactorily as if we had been close together. Honourable members will read with interest the correspondence which will be placed before them. FUTUBE POLICY. Before proceeding to discuss the proposals of the present year, there are certain broad features to be considered, to which I must ask the attention of the Committee. We have arrived at a period of our history when it is necessary to carefully consider the nature and effects of the taxation of the colony. The Customs revenue, which is the most important branch of the revenue, requires to be revised, by reason of several circumstances which have come in ordinary course to largely affect its natural growth. I need only mention two of those circumstances: the one, that the increase of production in the colony, in which I include manufacturing, has the tendency to sensibly diminish the import duties on many articles which have yielded increasingly large amounts in the past; and the other, that alcoholic beverages, from which the heaviest Customs returns have hitherto been received, are showing a diminished consumption. Both these facts are eminently gratifying—the latter, from a moral and social point of view, the exceeding value of which it would be impossible to
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exaggerate; the former, for both utilitarian and social reasons of only less importance. To put the case briefly, a less consumption of intoxicating drinks means increased happiness and social well-being; and larger local production means increased prosperity. It is clear that both these causes argue an increased power to pay Customs duties on whatever articles it is considered desirable they should be levied. The returns of Customs duties on spirits during the last three financial years are suggestive. They are as follow: 1882-83, £410,517; 1883-84, £403,500; 1884-85, £377,696; and for the first two months of the present financial year the receipts have been at the rate of only £366,624 a year. Those persons who refuse to see in the conditions of a new country the special circumstances which render inappropriate their ranging themselves under the old-world banners of protection or free-trade may at least meet on this common ground, that fiscal requirements are the primary object of _ Customs duties. I venture to go a step further and say there is no taxation more fair, just, and logical. I ask Protectionists to agree with me in this, although they'may see in Customs duties an ulterior object in the encouragement they give to local production ; and I ask Freetraders to render a like acquiescence^ although they may argue that the remission of duties tends to lighten the cost of living. In short, Customs taxation is a natural and obvious species of revenue, and the Freetraders who would specially diminish it, or the Protectionists who would specially increase it, seek to modify natural conditions by artificial ones. I am far from saying that such a modification is necessarily unwise. It constantly falls within the range of the duty of Parliament to specially intensify or abate the application of recognized principles. But I have yet to show why I claim for Customs duties the character I have assigned to them. They are fair, just,, and logical, because it is reasonable that the producers of other countries should not come here to enjoy all the benefits that the complicated machinery of Government affords to them without contributing to its cost. This proposition is in no way affected by the question of whether the ultimate charge falls on the consumer rather than on the producer. If it be admitted that it falls on the consumer alone, which is open to question, as at least to some extent it affects the lesser or greater profits of the producer, it is still clear that the consumer who finds it desirable to consume exotic productions should on their behalf contribute something to the cost of the Government, the operations of which enable those productions to find a market. Customs duties have, in addition, the two great advantages of being cheaply collected, and of falling on those who, in greater or less proportions, elect to consume dutiable goods. The average cost of collecting Customs duties amounts to only £2 14s. 3d. per cent. But it is undesirable that the whole taxation of the colony should be concealed, so as not to come home in a forcible manner to the taxpayers. Hence, together with indirect taxation, there should be taxation of an unmistakably direct character, as also some of that ingenious medium between the two that stamp duties supply. This leads me to state that, together with the revision of the tariff, it is desirable to pass under review the direct and semi-direct taxation of the colony. These classes of taxation require to be considered if for no other reason than they should be put upon an elastic footing, in which the feature of normal increase should have full play. It is necessary now to consider the character of the population. Besides the very small number of persons who live upon their means, and the larger number employed by the Government, the occupations of the people may be divided as follows : agricultural, pastoral, mining, maritime (in which I include fishing), manufacturing, commercial, and professional, and domestic service. In each of these classes, excepting the last, there are both employers and employed, but for our present purpose we need make no distinction between them, because it is clear that the prosperity of any class means, or should mean, the prosperity equally of the employers and employed. Indeed, in a country with such a range of progress before it, it should be our ambition to see that facilities are open to the employed of to-day becoming the employers of to-morrow.
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If it be conceded that the colony is not unduly peopled, or, in other words, that there is room in it for a much larger population than at present, we may eliminate from our consideration the expediency of promoting the survival of the fittest. In densely-populated countries, concealed though it may be, the consideration that the survival of the fittest will in the end be the best lies at the root of the indifference with which the interests of the separate classes forming the community are regarded. Here we cannot, in common prudence, tolerate such indifference. It is essentially of the utmost importance to each class that the other classes should prosper. This seems so simple a truism that you may consider lam trespassing on your patience in leading up to and uttering it. Yet it appears to me of such immeasurable moment to our whole moral, social, commercial, and corporate system, that I cannot proclaim it too loudly. In the absence of a disposition to give and take, the welfare of the country cannot be properly consulted. Those interested in any of the classes of occupation must recollect that the progress of the other classes is the surest road to their own. The towns must not ask an advantage from the country districts if they are not prepared to give one in return. The colony cannot become wealthy without manufactures on a large scale. The multiform conditions of town life give a market to country producers, but the denizens of the towns cannot prosper unless they afford to country producers facilities for reaching markets and opening up lands. What I wish to establish is that it is our duty to consider how all the classes of occupation can best aid each other, so that they may all equally progress, and knit together a self-reliant, self-supporting community. The most important point which arises from this contention is that, if there are to be Customs duties which will affect the cost of production by country producers, these must have assistance to open up their lands. The means the provinces afforded for opening-up the lands by roads and bridges was the foundation of the colony's progress. We have since gone in for more ambitious arterial systems. But the time has come round when we must consider, as a complement of those systems, the general opening-up of the country, and especially those parts in which the present means are small. To base the aid we render on the present means'of the recipients would be to give to those who have, rather than to those who want. Hence lam free to confess that I recall a great deal I said last session about each district depending upon its own taxation. Of course this should be so in a measure :we cannot refuse to enable the districts which have prospered to prosper still further. But we must go beyond this, and remember, in the spirit of the old provincial aid rendered to young districts, that the feeble require special sustenance. The assistance cannot be based on the means of each —larger aid must be given in proportion to the poorer districts. Our proposal, then, is settled subsidies extending over many years, but divided after a plan which will giye greater consideration to the poorer districts. The scale will adjust itself, that is, as a district becomes richer its receipts, though perhaps larger, will be based on a lesser scale. This is not the place to fully discuss the proposition. I must refer to it to an extent little more than to elucidate our financial proposals. It is, however, necessary to explain that the long term of years to which we propose the colony should bind itself has for its object to settle the finance of the local bodies and enable them to borrow on the security of the subsidies. We are, moreover, distinctly of opinion that the local bodies should be released from tutelage. The conditions under which the subsidies should be expended should be prescribed, and the Boards be held responsible for the proper expenditure of the money; but we do not approve making the expenditure subject to the supervision of the Government. The experience of the Eoads and Bridges Construction Act, and the enormous labour it has devolved on the Public Works Department, show the fallacy of a system in which the responsibility is divided. We can never haA^e a satisfactory system of local government unless the ratepayers are made to feel that they have no one but themselves on whom to depend for a wise expenditure of the corporate funds. Let the most interested absent themselves from the district or be indifferent to the proceedings of the local bodies, but let them understand that they do this at
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their own risk, and that there is no tutelary genius watching over the interests they neglect. One hears at times reproaches levelled at local bodies because of their great number and of the many people engaged on them. _ If these bodies overlap and repeat each other's work, there is of course objection to them ; but if they do distinct work I not only see no objection to the local duties being divided amongst a great number of persons, but much advantage in it. A theoretically-perfect local system would be that in which nearly all the individuals, with the consent of their fellows, rendered each his share of labour to the general good. Although we may stop short of so wide a division, there surely can be nothing to take exception to in a division of labour that, for example, would give to some capable persons purely municipal duties, to others attention to the harbours, to others care of the public libraries, and so on. It is, however, chiefly my duty now to deal with financial considerations, and I have to say that the Government consider that from a fiscal point of view the proposed endowment of local districts is amply warranted. Apart from the contention I have submitted, that it is for the welfare of the whole community that the several interests should help each other, the expenditure proposed is a wise investment. The opening up country by roads and bridges enormously increases its value —I mean its intrinsic, not speculative, value. We shall thus, by means of the subsidies, be constantly adding to the amount of property available for direct taxation. The unequal expenditure during the last few years on roads, bridges and, analogous local works is a striking plea in favour of the more regular system we now submit. A statement of past expenditure is furnished with the usual tables. We propose to repeal the Eoads and Bridges Construction Act, but to fulfil the obligations incurred under it. We propose that part of the charge of the subsidies shall, for five years, come out of loans; but the sum proposed from this source will be very much less than we have grown into the practice of taking for these purposes from borrowed money. The amount of subsidies to local bodies we shall submit is a sum not exceeding £300,000 per annum for twenty-five years, of which one-half for five years shall be provided by loan. We propose that in this amount shall be contained some special subsidies to goldfields counties, and we intend still to continue the rating of Crown lands, but the Crown's liability not to extend to rates beyond fd. in the pound. We shall submit a power to the Governor to arrange with local bodies for making roads specially required to open up lands newly sold or about to be sold. I cannot refrain from adverting to one special power which we desire to place at the optional disposal of local bodies —a power which is as beneficent as it is likely to be profitable—l allude to providing dwelling-houses, with small areas of land attached, for labourers all over the country, at moderate rents, or on terms of purchase by instalments. Suppose, to take an example, that a local body puts up a house at a cost of £80 on a piece of land of the value of £30 or £40, the total cost would yield a good return at 4s. a week, with a right to the feesimple in about fourteen years ; or, at ss. a week, a right to the fee-simple in about ten years. We propose to exempt these dwellings whilst under lease from seizure for debt. They may be erected by hundreds all over the colony. They will give to the labourers resources and means of comfort, the want of which has been apparent in this colony, and is painfully apparent in older countries. The local bodies will run no risks, for these properties will constantly acquire additional value, and be good security for the liability upon them. As to the properties themselves—l am supposing lands to be used in the vicinity of towns, and country townships—they will become, within the periods mentioned, of great value. It is intended the subsidies shall only be one-half for the present year. The reason is this : it is necessary to fulfil all the engagements for roads and bridges either promised or entered into, including those under the Eoads and Bridges Construction Act. The amount required for this purpose is very large, and a half-year's subsidy for the present year seems sufficient. The amount of £300,000 which I have mentioned is the maximum amount which will be allowed, based on rates. It is estimated that according to the present rates it
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will amount to about £250,000, and for this year one-half of that will be £125,000. We submit that for this year the consolidated revenue shall contribute £75,000 of that amount, and that £50,000 shall be contributed from the Public Works Fund. The subsidies will include small contributions to towns and larger ones to road districts and counties. This is irrespective of the treatment which we propose to adopt with charitable institutions and hospitals. I will ask honourable members to suspend their judgment on the subject until all the measures are before them. We will, if acceptable to the House, at once bring down the local government and charitable aid measures. They are three in number. We will move the second reading, and explain the nature of each, and then adjourn the debates until all of them are before the House. Honourable members will then be able to amply consider them as a whole, and take such course concerning them as commends itself to their judgment. lam aware that by this mode of proceeding we shall not be pursuing what are considered good party tactics; but a consideration of the kind is insignificant compared with the great advantage members will enjoy in having before them the measures in their entirety with their nature fully explained. We consider that, besides the assistance which, through local bodies, we render to the cultivators of the soil by opening-up the country with roads and bridges, special aid is necssary to the goldfields districts. We also are of opinion that particular encouragement should be given to the establishment of fisheries all round the coast. The advantages of a hardy maritime population are too patent to need comment. It only need be said that New Zealand seems eminently destined for such a population, and that the fisheries in its vicinity are believed to offer abundant inducements for the encouragement proposed. I come now to the consideration of the great body of persons engaged in manufactures of all descriptions. We cannot have this colony as wealthy and prosperous as it should be if manufactures do not hold an important position amongst its industries. With a good climate, abundant water and coal, an immense range of natural productions, and separated by a wide belt of ocean from other countries, it possesses the natural conditions which should make manufacturing a success. But the earlier stages of all industries are beset with more or less difficulty, and there is no proof whatever that any particular manufacture may not be suited to the colony because in its initial stages it cannot compete with goods of the same kind imported. Thus, we are brought face to face with the theories which are ranged under the heads of free-trade and protection. Although, as I have previously said, the old-world doctrines which are comprised under these banners are quite different in their nature to those which we have to consider, it seems impossible to prevent people dealing with the question as if we really had to fight out the question on the ancient field of battle. In any case you have the right to ask the Government to frankly disclose their views. We are, then, neither Freetraders nor Protectionists in the sense in which those terms are commonly used. We do not believe the circumstances of the colony are such as to make it politic to adopt, simple free-trade principles, which resolve themselves into giving no advantage whatever to local producers, and to applying excise, to countervail import, duties. On the contrary, we think it is so important that all sections of the population should be profitably employed, that it is impossible to apply any theory that depends for its basis on the supposition that the population, if it cannot find one occupation, must look to another, and be content to contend with the populations of other countries on equal terms, no matter what may be the condition of labour in those countries. On the other hand we distinctly abjure a policy- of protection, which would give to the followers of protected pursuits a State-aided guarantee of success, no matter how unsuitable those pursuits might be. Any policy of the kind which would carry with it a guarantee of the State, direct or implied, through the thousand ramifications of manufacturing operations, would be a system of unhealthy forcing, fraught with possible ultimate disaster. We are far from saying there are not some industries which the State should foster, but these should be commanding, conspicuous industries like that of the fisheries, and the
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fostering should be direct in character by bonus. But, with regard to industries generally, the question with those who pursue them should be, are they calculated, when the initial difficulties are overcome, to stand on their own merits, and defy competition ? As I have said, we hold that, in the natural and logical course of things, every import should be subject to a reasonable duty to represent a contribution to the expense of the Government, of the machinery of which the importers take advantage. But, beyond that, the Customs are a convenient mode of taxation, cheaply collected, calculated to affect people otherwise free from taxation, and moreover much depending on the voluntary contribution of the consumers who elect to use imported goods. It is not in the probable nature of events that for a long period the colony should escape from the necessity of raising a large Customs revenue, and, in fixing the particular items, whilst, having first a regard for revenue requirements, we think it quite desirable to have a consideration for the occupations of those who may be striving to surmount the difficulties attending the earlier stages of industries. But I distinctly state that the primary object of the Customs is revenue; that the tariff should be entirely within the control of Parliament (unless, as in the case of beet-sugar, a distinct contract is registered) ; and that Parliament, in dealing with the tariff from time to time, should not be fettered with implied engagements of an indirect character. I say to the manufacturers throughout the country that they will be unwise if they invest large sums in industries under the idea that these will be continually bolstered up by tariff arrangements. They may reasonably exercise their judgment as to the probable duration of the duties which at the outset will assist them. But their calculations should be made on the presumption that their industries, within a reasonable period, can defy competition elsewhere, and, even beyond this, that there is fairly a prospect of their being able to supply outside markets. The islands and other countries accessible to New Zealand open good prospects of an exterior market, and I am convinced there are numerous industries of a substantial character that can be carried on in New Zealand with a reasonable prospect of defying outside competition, and of supplying, in the face of competition, other countries. We shall ask for a revision of the tariff, because the present one is too complicated, and has lost, besides, its elastic character. One word more, we believe the Government, whenever it can prudently do so, should encourage local in preference to outside production. It should do so in the interests of economy, that is to say, in the prospect that the local producer will be able to supply it in the end much more cheaply and satisfactorily. In order to remove the misconception as to competing value which now surrounds all Government imports, we shall propose that Government imports shall not be free from Customs duties, nor from reasonable wharfage charges. Without going at length into the nature of the new tariff, I may say it is framed on the principle of yielding revenue and in the interest of simplicity. We make as few distinctions as possible ; the free entries are enumerated, and the articles not enumerated are subject to a 10 per cent. duty. We slightly increase the duty on spirits, we put a duty on foreign coal, and an extra duty on tea, but we do not increase the duty on sugar. It is so useful for purposes of fruitpreserving and making jams and preserves, that I should have been glad to reduce the duty on it. Other changes I need not now refer to. On the whole the tariff is calculated to do no more than restore the diminished power of the alcoholic duties and of those with which local industries have interfered. We have thus a sure guarantee that it comes upon a population ready to meet it. Its effects on the people will be less harsh than the tariff of 1882. The question of direct and semi-direct taxation next calls for consideration. With regard to the latter —the stamp duties —we think they require revision, for increase in one important respect, but principally with the view of surmounting the cleverness of those who under present circumstances manage to evade them. The succession duties are altogether inadequate. They are much less than in Great Britain, and it cannot be alleged that in that country there is an undue want of consideration for the possessors of property. We have also 2—B. 1.
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to defeat the ingenuity of those who, with the ruling passion strong in death, pass the last days of the lives they have devoted to the acquisition of wealth in marvellous devices to deprive the State of the revenues which should be payable on their decease. With regard to direct taxation it is no secret that Ministers preferred a land- and income-tax to a property-tax, and that the House and the country are divided in opinion on the subject. We have come to the conclusion that a compromise is necessary and expedient. It is the case with all systems of taxation that there is great advantage in a people having become used to them. Thus, we see in some countries the people educated to a mode of taxation which would be utterly distasteful to the denizens of other countries. The people of New Zealand have grown accustomed to a property-tax, and, if for no other reason, a great deal is to be said in favour of retaining it. We think it may be so modified as to deprive it of some of the features which are obnoxious to the views of those who prefer a different system of taxation, and it is our intention to make proposals in this direction. The primary alterations we wish to make are to provide for the exemption of agricultural improvements up to a certain sum, and also to provide for the exemption of machinery up to a certain amount. I know that by this compromise I may be giving pleasure to a few honourable members, who, accustomed to look upon obstinacy as the highest virtue, are delighted when they can point to a modification of opinion on the part of their opponents. For my part I have a high admiration for a public man who has the courage to boldly avow any change in his opinions : therefore, if I were able to admit, which I cannot, that I have entirely changed my views, I should not dread doing so. But I must not be understood to have much changed my opinions on the subject of the property-tax. I look on it as unwise in principle and undesirable in its effects. I should prefer a simple land-tax, in the assessment of which the valuation of improvements was excluded, and an income-tax if the land-tax required to be supplemented. But, as I have said, a great deal of heed has to be given to the fact that people become accustomed to any system of taxation after a time, be it good or bad. Again, nothing could be more objectionable than a constant change from one system to another, and it seems probable, if some compromise be not effected, that we shall oscillate for years between the two systems of propertyand land-tax. Again, though an income-tax is, in my opinion, a fairer way of getting at the earnings of the people, it has features of an objectionable nature, to which it would take them years to become accustomed. And I may say further, as far as I am personally concerned, that, whilst I prefer a land-tax to the complication of the property-tax, I am not insensible to the risk one runs in espousing a land-tax to its being supposed he is favourable to such a tax, not for income purposes, but for destroying existing rights. I am no friend to parcelling out the land in large estates, and I hold that, as regards our future disposition of the lands, we are free to deal with them in the manner that is best calculated to put a numerous population on the soil. But when I look back at times past, and remember how from time to time special inducements were offered to rich men to buy large estates because of the money being wanted —of how, in fact, for the sake of money the public estate was frequently sacrificed —I can see no justification for disturbing bargains which, however impolitic, were entered into with deliberation. I was an advocate of checking the system of land acquirement. I desired, when the railway policy was commenced, to double the price of land exposed to free selection. I do not think I took part in the occasional bargains which were made for obtaining large sums from wealthy purchasers. But good faith is of priceless value. In the course of time some of these estates may be wanted for settlement, and, when they are, the State has a perfect right to take them on paying compensation. But at present we have still millions of acres, and do not require anything of the kind. I am, therefore, well disposed to the compromise, which does, in fact, give a land-tax, but accompanies it, I am sorry to say, with a tax on the capital value of personalty instead of on the incomes of its possessors.
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I was also, it may be remembered, opposed to any property-tax or land-tax unless it was localized. Here again I have somewhat modified my views. If such a tax were localized the towns would chiefly enjoy it, and the country districts, which most require it, would get the least. For the sake of that mutuality of interest to which I have alluded, it is better the State should collect the whole and average its distribution. I carried last year the repeal of half the property-tax, and said that I would like to do away with it all if the charitable aid could be localized. I propose now to return it to fd. in the pound, to cover the amount of charitable-aid contribution with which it is still intended the State should supplement local expenditure, to meet the subsidies to local bodies, and to contribute to the increased defence expenditure. Property should surely bear its share of this burden. It will not, I think, be possible to bring into force at once the changes proposed in respect to deductions for improvements. A fresh valuation is being taken, but it cannot be completed in time to be effective this year. EXPENDITUBE DUBING THE YEAE. The Committee are, no doubt, prepared to learn that provision will have to be made for increased expenditure this year. Last year a sum of £64,000_ for interest on a converted loan was saved to the year by the process of conversion. It arose in this way. The conversion during 1883 provided for an exchange of securities in January, 1884; but the interest was thrown so far forward into 1884 that the full year's payment of interest did not come within the year, and thus the amount of interest payable yearly was apparently reduced by about £64,000. The circumstance was explained last year, and I have previously this evening alluded to it. Then there is the increased interest on the third-million loan, and half a year's interest on the million and a half just issued. On the other hand, there is the reduced interest in respect of the conversion of the 5-30 debentures and the floating debt, and there will be a considerable saving this year on the item of £30,000 for exchange for paying interest in London. Still, on the whole, the permanent charges show an increase. There is one increase which is purely nominal. As the honorarium to members has become payable by permanent Act, it has been transferred to that heading from the class " Legislature," under which it formerly appeared. There are other items of increased expenditure, such as that for the Colonial Exhibition in London; for making the triennial valuation under the Property-Tax Act; the usual large increase for the Education vote, and the increased expenditure for Defence purposes. There is the expenditure apparent for the direct mail service, but of course there is the revenue derived from it. The English mail service costs us not less than formerly, but we have not yet doubled the postal receipts because of two mails a month. The reduction in the use of the Brindisi mail is most satisfactory, and we save a considerable amount on the cost of the last year of the present San Francisco service. THIS YEAE'S ESTIMATES OE EXPENDITUBE. The following statement, in tabular form, shows the estimates of expenditure during the current year as compared with the estimated and with the actual expenditure last year : —
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Summary of Services chargeable on the Consolidated Fund.
I have already explained the increase in the interest expenditure. I have also referred to an increase under the Acts authorizing permanent payments, owing to the honararium being transferred from an annual to a constant vote. Other items of increase under permanent Acts are those for the payments which have to be made to the Harbour Boards of Westport and Greymouth under the Acts of last year. It will be remembered that, although those Boards were gifted with certain endowments, the management, it was provided, was still to remain in the hands of the Public Works Department. Hence the full receipts are carried to public revenue, and the payments are made under the authority of the Acts themselves. The reduction in the Colonial Secretary's Department is partly due to a less vote for charitable aid. I hope, if the Bill we are introducing be passed, that the amount in future years will be much less. The items electoral and audit also show savings. The Treasury shows a decrease on the whole, notwithstanding the heavy item of £15,000 for revaluing under the Property-Tax Act and the sums set down for the Exhibitions. The savings are on salaries and on the large item of last year —exchange and commission. The Postal Department shows apparently a considerable increase. It is occasioned by the necessity of placing the amount on the Estimates for payments for the direct mail service with England, although those payments, exclusive of bonuses, are to come out of postages. The receipts are, however, taken into account in the estimates of revenue. There are additions for ordinary purposes. The Postal Department becomes larger each year. The increases of salaries are only for cadets and clerks of £10 each, on salaries less than £120 a year. In the Customs Department there is increased expenditure for a new steamlaunch, for rent at Auckland, and for a few other items, including expenditure for repairs to the " Hinemoa " and ".Stella." In the Stamp Department there is a small saving on the votes of last year. The Education Department shows the usual increases for capitation allowances. The Native Department increase is more seeming than real: some small portion of the expenditure last year was charged to the Civil List. The Mines Department shows a small increase on last year's vote, which my colleague the Minister of Mines will take an opportunity of explaining, as also other mining expenditure proposed to be charged
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1884-85. 188. ;-86. Voted. Expended. £ £ £ £ Peemanent Appeopeiations— Civil List Interest and Sinking Fund Under Special Acts of the Legislature 29,750 1,667,873 102,484 1,800,107 29,750 1,559,115 53,724 31,598 1,570,989 65,093 Annual Appeopeiations— Class I.—Legislative Class II. —Colonial SecretaryClass III.—Colonial Treasurer Class IV. —Minister of Justice Class V. —Postmaster-General and Commissioner of Telegraphs ... Class VI.—Commissioner of Customs Class VII. —Commissioner of Stamps Class VIII. —Minister of Education Class IX. —Minister for Native Affairs ... Class X.—Minister of Mines Class XL —Minister for Public Works ... Class XII. —Minister of Defence 1,642,589 1,667,680 17,572 221,568 49,312 116,660 67,767 241,854 52,688 118,754 66,943 251,763 58,166 117,405 279,518 86,874 26,451 361,186 19,944 24,610 756,591 211,740 262,802 85,288 27,496 340,482 18,611 23,808 751,438 185,466 255,161 80,979 25,964 334,197 17,934 15,585 714,846 182,586 2,172,026 Total Expenditure on Ordinary Eevenue Account 3,972,133 3,819,043 3,789,209
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to the Public Works Fund. The Minister for Public Works will inform the House concerning expenditure on the Working Bailways and in the Public Works Department, and the Minister for Defence and for Lands will enter into the necessary explanations concerning his departments. lam glad to say the expenditure in the Survey Department has been considerably reduced. THE CIVIL SEEVICE. There has been no subject which has so much engaged the consideration of the Government during the recess as that of the Civil Service. It will be remembered that last session, or during the short previous session, my predecessor, Major Atkinson, held out hopes of large reductions in the cost of the Civil Service in connection with a system of classification. A Committee of Civil servants had examined into the subject, and had made confidential recommendations. We have examined and considered with the greatest care the observations and recommendations of the Committee. To most of the reductions mentioned we have given effect. For example, we have made several reductions in the Treasury by adopting, as far as possible, the suggestions for avoiding keeping unnecessary accounts. It may be remembered that I referred to the possibility of saving money in this direction in the Financial Statement last year. There are also savings proposed in the Audit Department. I do not regard this department as one in which the saving of money is the first consideration. It has work of the greatest value to perform, the cost of which should not be grudged. The changes in this department we now propose are not primarily dictated by economy, but rather by anticipations of possibly increased usefulness. We came to the conclusion that the audit of railway way-bills was unnecessary in the face of the check upon those documents the department itself maintains, and the Controller and Auditor-General deferred to our opinion. We further decided that the general audit of the railways could be left to the Bailway Department's own excellent system, and that it would be better to let the Customs Department do its own audit. As to these two changes a Bill will be introduced, and I shall propose torefer it to the Public Accounts Committee. They will, I have no doubt, acquiesce in our opinion as to the railway audit, and on the whole also agree with us as to the Customs Department, about which, however, there is more doubt. As regards some of the changes in the Audit indicated by the Committee we do not see our way to adopt them. With other reductions suggested we have mostly complied, but they do not amount to much; and I express the opinion of the Government when I say that we do not consider that the departments are over-officered. The pay of the Civil servants in this colony is less than in other colonies, whilst the officers are certainly on the average not inferior in capacity and capability. The Civil servants are in the unfortunate position of being unable to defend themselves if they are attacked, and it is not a popular thing for a Government to defend them. I have had exceptional opportunities of judging, and I am of opinion that the Civil Service of New Zealand is subjected to a heavier strain of work than is the lot of other Civil Services. It is a service that is reasonably manned to perform the average departmental work of the year, and during a large part of the year —say, two months before Parliament meets and during the session—it is subjected to a heavily increased strain, and to that strain there is cheerful submission. I now come the question of classification, which, in other words, means placing the Civil servants, to some extent, beyond the influence of caprice. I cannot seethat classification is in itself an operation which directly saves expenditure. I have tested it in half a hundred different ways, and in no way do I see that it means less money, except in the inducements it holds out to the best men to continue in the service. The subject is a large one, and it is difficult forme to deal with it in thebrief manner which the Committee, on an occasion like the present, has the right to expect. The Civil Service is composed of two classes of officers: the one,, requiring technical knowledge of a kind not easily acquired, and a groove of mind of an essentially trained character; the other, requiring merely the accuracy and experience of well-qualified clerks. Although one may feel the difference
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between the two, it is impossible to draw an arbitrary line between them, because officers of the ordinary character, who have ambition and ability, are constantly stalking into the more advanced grade. The direction in which inducement has been given in New Zealand has not been in the shape of assured promotion, but in that of more or less assured position, tending to make the officers dread throwing up the certain advantages which they have gained. The knowledge that it is on the security of their position that the officers have counted has had a tendency to make Governments excessively reluctant to enforce retirements. We have come to the conclusion that a complete change is desirable, and that officers admitted in future to the service shall have the right to less retiring compensations, whilst all officers shall have before them those more immediate advantages which tend to spur them on to zeal and excellence. The saving in the one will, we believe, in the end compensate the temporary increase in the other; for though, as I have said, classification means additional initial expenditure, the time is not long before, by reaching to the top of each class, and by vacancies in the higher offices, reductions set in. As regards the conditions of future entry to the service, we hold that, as it is open to officers entering to accept or refuse them, there can be no hardship in fixing our own conditions. Those conditions, we propose, should be a right to only one month's notice or salary if the officer has been not more than eighteen months in the service, and to only three months' after a longer service. To make the Government independent of those considerations which always create reluctance to dispense with an officer's service, we propose, further, that it shall be a condition of any officer's joining the service in future, no matter in what capacity, that ten per cent, of his salary shall be impounded, to be invested at compound interest, and to be given to him on his leaving the service or to his representatives on his death. As regards the classification, as we do not think the House will consent to its involving large expenditure to commence with, we propose to introduce it in a manner that will make its effects gradual, so that, as its operation in the direction of increase becomes developed, its effects in the direction of decrease will begin to make themselves apparent. We propose to deal with seven classes: the industrial—which will comprise the non-clerical—the cadets, and five other classes, ranging up to salaries as high as £500 a year only. Cadets will have an annual increase of £10 up to £120, but they will not increase beyond £80 unless they pass the first examination. Class I. will commence with salaries of £120, and there will be four annual rises of £5 and four of £10 each to .£lBO. Class 11. will commence at £190, and there will be five annual rises of £10 each to £240. Class 111. will commence at £250, and there will be six annual rises of £12 10s. each up to £325. Class IV. will commence with £340, and there will be four annual rises of £15 each to £400; and Class V. will commence at £420, and there will be five annual rises of £16 each to £500. We propose that this year the only effect, beyond the classification of the officers at their present salaries, and the rise in the industrial class, will be to give to Classes I. and 11. a bonus of £5 to each officer, and that next year the rises according to scale will commence with those classes on the salaries of this year without bonuses. For the next two years (not including the present year) we propose that the officers of Classes 111., IV., and V. shall have bonuses of £5 on the salaries of this year, and that rises according to scale shall commence the year following on the appropriations of the previous year without bonus. The Committee will not, I hope, think these increases too large when I say that an officer who made an advance each year, and was never stopped at the top of any class, would take nearly thirty-five years in reaching from £120 to £500 a year. Taking the chances of detention at the top of each class, an officer would be fortunate in running the gauntlet within forty years. I do not mean to say that it will be impossible for rises to be more speedy. It will be open to the Government of the day to promote officers from one class to another before they reach the top of the lower class. We do not propose that rises from class to class shall be by examinations. This we know is a favourite plan, and we have well considered it, but we cannot recommend it. Examinations
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for cadets are desirable, because they prove that the mind has been trained to observation and to acquiring knowledge; but examinations for advanced positions afford no guarantee whatever of the capability and fitness of the candidates for the positions for which there are vacancies to fill. A capacity to cram fs not to be compared with the capacity which the heads of departments and Ministers can detect by watching the general conduct of officers. The classification will not include the officers of the Legislature, nor those of the Gaols or Working Bailways, which already have their own systems of classification. There are some few other exceptions, to which it is not necessary now to call attention. The industrial-classification rises will commence at once. We estimate the cost, apart from the rises of cadets to which they are already entitled, at about £6,500 this year; at about £10,000 next year; and thereafter there may be about a like rise for a year or so, and then a gradual reduction. On the whole, the increases will not much exceed those which are, as a rule, spasmodically made. In the end there will be a considerable reduction on the spasmodic inoreases, and the new rules of entry into the service will greatly promote future economy. LAND FUND. The expenditure for the current year is estimated at £208,971. This includes the usual charges under special Acts, such as the thirds of the sales of land on deferred payments, New Plymouth Harbour Board Endowment and other charges, also the Land and Survey Departments, and rates on Crown and Native lands. The revenue for the year from land sales is estimated at £163,960 ; so that, taking into account the credit balance of £31,931 at the end of last year, we shall have a deficiency on the 31st March, 1886, of some £13,000, which is likely to be reduced by the payments not being made within the year. BEVENUE OF THE YEAB. The estimated ordinary revenue of the year, with the changes in Customs and Stamps, I have indicated, and, with a |d. property-tax, is as follows : —
Revenue.
I have, I think, sufficiently enlarged already on the changes we propose in the revenue, and I may pass on to the balance between revenue and expenditure. EESULT AS BETWEEN EEVENUE AND EXPENDITUBE. The ordinary expenditure of the year already described amounts to £3,972,133. I have three items to add to this, viz., £6,500 for the proposed Civil Service amendments, as to which I may say, if not passed in the shape proposed, some at least of it must be asked for by way of additions to salaries ; £75,000 which
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1885-86 188-r-85. Estimated. Estimated. Actual. Customs Stamps (including Postal Cash Eeceipts) Property-Tax at J; last year, f. ... Beer Duty ... Bailways ... Telegraphic Begistration and other Fees Marine Miscellaneous £ 1,500,000 538,500 270,000 55,000 1,116,000 103,400 34,000 14,000 32,000 £ 1,375,000 527,500 144,000 55,000 1,120,000 94,000 37,000 16,000 35,000 £ 1,411,102 510,019 145,380 55,715 1,050,743 95,788 36,449 13,393 57,730 Depasturing Licenses, Bents, &c. ... Accretions of Sinking Fund 3,662,900 195,000 258,000 3,403,500 188,000 247,700 3,376,319 193,175 247,700 4,115,900 3,839,200 3,817,194
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I estimate is about the amount that will come in for payment on account of subsidies to local bodies; and I propose to pay off £50,000 of the deficiency of 1883-84. We must either begin to pay this deficiency off or resolve to fund it, a decision I should much regret. These items bring up the expenditure to £4,103,633. On the other hand, there is revenue £4,115,900, and the surplus of £19,891 at the beginning of the year, making together £4,135,791, and leaving a surplus on the year's transactions of £32,158, which is not unlikely to be largely absorbed by Supplementary Estimates. PUBLIC WOBKS EXPENDITUBE. There is little more about which to detain the Committee beyond the most important consideration of Public Works expenditure, and the amount of money we shall borrow during the present year. I have already said that, taking into account the million and a half loan, there are about two millions of money available for expenditure, subject to advances in the hands of officers to be accounted for. Without trespassing on the details which my colleague the Minister for Public Works will set before you, I may say that we estimate there will be an actual expenditure of about £1,700,000 this year, which will include about £170,000 on harbour defences. It will be seen, then, that after accounting for advances, there will be but a small sum left for expenditure after the end of March next. Out of the North Island Bailway Loan there will be some amount repayable for works defrayed out of other loans. As the Committee are aware, we intend proceeding with that railway as fast as possible, but the actual expenditure up to the end of March is not likely to much exceed £100,000. The Defence expenditure out of present loans will have to be repaid. It will be apparent, therefore, that we have provision for little beyond March, and scarcely enough to carry us on until the House meets in ordinary course next year. With regard to the general question of borrowing, I must say a few words. When the Minister for Public Works brought down his plans in 1882 for the three-million loan, he stated that, if he were to stipulate for votes to complete all the works he proposed, he might have to ask for ten millions. More or less, we inherit these obligations, together with others which have grown up since ; and the plain meaning is, that we shall continue year after year the construction of great works to such extent as Parliament thinks advisable. It is necessary to look the position fairly in the face, and to draw a line as to the purposes for which money should be borrowed. When we proposed the million and a half loan last session, we drew attention to the enormous proportion of it that wonld be absorbed by roads and bridges. One of the objects of our policy which I have disclosed this evening is to set a limit to borrowing for indiscriminate purposes. As soon as we can end the engagements at present contracted, we hope there will be little money borrowed by the colony for roads and bridges. But we recognize the great objects these works fulfil, and we propose a sufficient finance to local bodies to carry them out. As regards railways, besides the main-trunk lines, there are hundreds of miles for which a cry comes up from different parts of the country. We propose that, in future, there shall be three classes of railways : Forest railways, the cost of which the State forests will defray ; district railways, for which the local bodies recommending them shall defray one-half the yearly interest, in excess of receipts ; and main-trunk lines, for which the colony shall be wholly liable. In his Statement last year the Minister for Public Works laid down certain principles which should guide the House in relation to future borrowing. The railways have not yielded the revenue anticipated last year. The Government deemed it expedient to make some reductions in rates, believing that the tariff should not be framed solely with the view of exacting the utmost possible receipts. There were other causes which led to a less revenue. These will be explained in the Public Works Statement. But it may be said, This is a good time to borrow. The market has shown that New Zealand loans are welcome. Why not take advantage of this disposition, and borrow largely ? I emphatically urge that no such view should prevail. We do not borrow to suit the market.
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Just as I would urge that, if we really wanted money, we should borrow although the market were not disposed to take our loan on favourable terms, so I urge, with equal strength, we should not be enticed into borrowing because the market is favourable. It is pleasant to get a high price for our loans, but we must not attach too much importance to securing a little extra from the sale of a loan. A year's interest soon disposes of that if the money is not wanted. lam sure it is better to put on one side the market feeling, and to judge ourselves, on the broad grounds of public policy, what are our wants, and to what extent we shall supply them. I take it the House means to carry out the work of defence, and that during this and the two succeeding years not less than £300,000 will be required for the purpose. I presume that we shall not permanently end assistance to nominated immigrants, and that, though we shall be less munificent with respect to expenditure on roads and bridges out of borrowed money than we have been lately, we must redeem engagements and provide a portion of the subsidy proposed. We require to provide for the purchase of Native land, and we may conclude, I suppose, that there is no intention to discontinue the construction of railways already commenced, and the consideration on their merits from time to time of other railways, subject to the conditions I have suggested as to main and district lines. It may be urged that all these objects would justify our asking for a considerable loan, to be expended from time to time as authorized. But we are of opinion that it will be better to confine ourselves within narrow limits, and to test the effect of the readjustment of taxation and of the subsidies to local bodies. We shall therefore ask authority for only one million for 1886-87, of which £250,000 will be for defence for that and the previous year, £50,000 for immigration, £200,000 for roads, bridges, and buildings, £100,000 for purchase of Native lands, and £400,000 for railways. It may be as well, whilst I am on the subject of borrowing, that I should say the Government have not adoptedthe idea I shadowed forth duringthe recess of borrowing money to lend in small sums to farmers on freehold security. When I spoke on the subject I did so with reservations which I expressly made. On further examination, I found that the English Government had ceased to make direct advances for land improvements, and had substituted for it a system of authorizing the issue of mortgage debentures, for which the State was not liable. This system works excellently in Great Britain, far better than the old one of direct advances, whilst the State has no liability. A Bill will be submitted to the House for giving effect to this English system. It will, I think, go some way towards satisfying the demand for cheap money- for the securities of local bodies and for land improvements. The East and West Coast and Nelson Bailway of the Middle Island demands a few words. The Government are of opinion that this railway must be constructed, but they are still averse to making it at the cost of the colony. If further assistance be necessary they have no doubt that Parliament will consider how aid may be given without increasing the grants of land. They think it right to inform the Committee that they attach great importance to the construction of the line. SUMMABY AND CONCLUSION. Beference has been made to so many questions that it is desirable to summarise the salient points of the subjects and proposals I have brought before the Committee this evening, as well as to make clear some details. 1. That the operations of last year on the Ordinary Bevenue and Expenditure Account left a credit balance of £20,000. 2. That the Public Works expenditure amounted last year to £1,336,000, and that, taking into account the million and a half loan, there was at the end of March last about two millions to begin this year with, taking the advances outstanding in the hands of officers as cash. 3. That the negotiation of our loans has proved very satisfactory, and that for the last million and a half we netted more than did the Governments of 3—B. 1.
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Victoria, Queensland, and South Australia for loans floated at about the same time. 4. That the Act of last session dealing with loan conversions and with the sinking funds has proved a great success, and is free from any suspicion of having adversely affected the credit of the colony. That, through conversions effected under its authority, we have already been able to pay off £71,000 of the debentures created the first year to represent the growing accretions of the sinking funds. 5. That the financial machinery of the Westport and Greymouth Harbours Acts has proved successful. 6. That the Government highly appreciate the services of the Loan Agents and of the Bank of England. 7. That the Customs revenue requires to be revised, because of the satisfactory facts that it has become affected by the diminished consumption of spirits and by the increased local production of dutiable articles. 8. That it be adjusted on the principle that, whilst the primary object is to serve fiscal purposes, and whilst we by no means commit ourselves to State protection, we should not be unmindful of the services the tariff may render to local production. In this connection I may mention that after I had settled the tariff I said to Mr. Seed, the Secretary to the department, of whose ability honourable members are well aware, "Describe to me briefly what you consider to be its character." Long as I have detained the Committee, I must ask leave to read Mr. Seed's reply:— " The principles which have been kept in view, as far as practicable, in con- " sidering the proposed alterations in the Customs tariff have been, — " That the various articles named therein should be clearly and explicitly " described, so as to secure absolute uniformity in the levying of the duties at " the several customhouses in the colony ; " That moderate and revenue-producing, and not prohibitory, duties shall be " imposed on all articles which can be produced or manufactured in the colony; " That raw materials used in manufactures, and special articles required for " manufacturing purposes, which cannot at present be produced in the colony at " moderate cost, should be exempted from duty ; " That all free goods should be specifically enumerated; and " That unenumerated goods should be liable to ad valorem duty." 9. That the succession duties be increased, but still be kept less than they are charged in Great Britain, and that the present exemptions be retained. 10. That the stamp duties be increased in one particular, that of duties on conveyances, whilst precaution should be taken to guard the revenue from ingenious efforts to impair it. 11. That we cannot afford to part with population, and must recognize that the several classes of the community should help each other. 12. That road- and bridge-construction is essential to opening up the country, but that we cannot continue to throw the whole cost of it on borrowed money. 13. That the local bodies must manage their own affairs, and have a finance on which they can depend. That for this purpose the consolidated revenue shall be charged with a fixed subsidy for twenty-five years. 14. That to localize the direct taxation in the districts in which it is raised would not answer the conditions required to be met, as it would leave the least provided the bodies that most want help. 15. That the division should be made on a carefully-considered, selfadjusting scale. 16. That special assistance should be given to goldfields counties. 17. That manufactures are essential to the wealth of the country. 18. That we must attend to, and put to the best uses, the great resources the colony possesses in its forests and fisheries. 19. That we should introduce a moderate and gradual system of Civil Service classification.
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20. That the property-tax should be altered so as to effect a compromise between its advocates and the advocates for a land-tax and income-tax, and that for this year it shall be fixed at fd. 21. That we should pay off £50,000 at least of the £150,000-deficiency of 1883-84. 22. That, after that provision, the provision for subsidies to local bodies, and for the increased cost of defence and education, a surplus of £32,000 will remain, which will be subject to reduction by supplementary votes. 23. That we should not allow the favour in which our loans are held in the London market to induce us to borrow more than we consider to be wise. 24. That we should endeavour to fall into a system under which we should reduce borrowing for indiscriminate purposes. 25. That we should have three classes of railways in future: Main Trunk, District, and Forest Bailways ; the last to be charged to the State Forests, and half the annual charge of the District Bailways to be borne by the districts benefited. 26. That the expenditure upon permanent defence should be charged to loan. 27. That we should authorize a loan for one million, to be issued next year, to serve up to the end of the financial year 1886-87 ; that £250,000 of this loan should be for defence, £50,000 for immigration, £200,000 for roads and bridges, £100,000 for the purchase of Native land, and £400,000 for railways. 28. That we attach great importance to giving sufficient inducements to private capitalists to construct the East and West Coast and Nelson Bailway. 29. That, to meet the demand for cheaper money for land improvements and for loans to local bodies, we will submit a Mortgage Debenture Bill, which will embody the system which has been found to work advantageously in Great Britain, without entailing any liability on the State. Let me, in conclusion, say that I am sensible I have had to communicate most important views and proposals to the Committee. Probably I have not done so in felicitous language, but I stand in the justice and generosity of the Committee, and I ask honourable members not to take heed of faults of expression, but to consider the proposals I have submitted from the highest standpoint. lam far from deprecating the lines of party, but there are some subjects that may with advantage be considered with a temporary emancipation from party obligations. At any rate, the Committee will do justice to my desire to place before honourable members, free from all acerbity, views which I conscientiously believe are worthy of their consideration in the interests of the colony. I have the honour to move the following Besolutions: — Resolved, That in lieu of the duties of Customs now charged on the undermentioned articles, the following duties of Customs shall, on and after the twentieth day of June, one thousand eight hundred and eighty-five, be charged thereon on importation into New Zealand, or on being cleared from any warehouse for home consumption, namely : —-
XIX
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XX
Rai ;e of Duty. Spirits or strong waters, as defined by "The Customs Duties Consolidation Act, 1882 " £ s. d. Bitters Wine „ Sparkling „ Australian Tea Arrowroot, cornflower, farinaceous food, maizena, maccaroni, prepared groats, sago, tapioca, and vermicelli ... Bacon and hams Beef, salted Boots and shoes— Men's, No. 6 and upwards ... Youths', Nos. 2 to 5 Boys', Nos. 7 to 1 Women's, Nos. 3 and upwards Girls', Nos. 11 to 2 „ Nos. 7 to 10 Children's, Nos. 4 to 6, and slippers Women's " lasting " and " stuff" boots ... Goloshes of all kinds Slippers, men's, women's, and children's, from No. 7 and upwards Butter and cheese ... ... 0 14 6 0 14 6 0 5 6 0 6 6 0 4 6 0 0 6 the gallon. a a the'lb. 0 0 OJ 0 0 3 0 4 0 a the cwt. 0 17 6 "I 0 14 0 0 8 6 0 11 0 0 8 6 0 7 00 3 0 0 7 0 0 3 6 per doz. pairs. 0 4 0 0 0 2 the lb. Candles, tallow „ stearine „ paraffin or wax „ not otherwise enumerated 0 0 1 0 0 2 0 0 2f 0 0 2J the lb. or reputed package of that weight, and so in proportion for packages of greater or less reputed weight, the barrel. Cement ... Chicory, or any vegetable matter applicable to the uses of chicory or coffee ... Coals, landed Doors, plain „ glazed Fish, tinned, potted, or preserved 0 16 0 0 3 0 2 0 0 3 0 0 6 0 0 0 2 the lb. the ton. each. Fruit, pulp and boiled fruit, not otherwise enumerated ... Iron barbed wire ... ... Jams, jellies, marmalades, and preserves 0 0 2 0 2 0 0 0 2 the lb. or reputed package of that weight. Ditto, the cwt. the lb. or reputed package of that weight, the cwt. Paints, ground, in oil... „ mixed ready for use Paper, wrapping, brown „ „ other kinds „ bags Pickles 0 2 0 0 4 0 0 3 3 0 3 6 0 7 6 0 10 // n Eope and cordage, including houseline and marline Stearine, paraffin wax, and Japanese wax Soda, bicarbonate Sashes, plain „ glazed Soap, common 0 6 0 0 0 2 0 2 0 0 3 0 0 6 0 0 5 0 per doz. pints or reputed pints, and in the same proportion for larger or smaller sizes. the cwt. the lb. the cwt. the pair the cwt.
B.—l.
Agricultural implements and machinery, not otherwise enumerated ... Casks, empty, and shooks Duck, in the piece Garden lawn-mowers „ pumps ... ... ... „ rollers ... ... ... ... ... ... g „ syringes ... ... ... ... ... ... | Gasworks, machinery and material for, other than iron gas-pipes ... ... »g Iron bridges, and materials, not otherwise enumerated, for construction of bridges ... Oil, cod-liver ... ... ... ... ... ... ... I Paper, writing, for account-books, of sizes not less than the size known as " demy," [ when in original wrappers, and with uncut edges as it leaves the mill ... g Textile fabrics, not less than 18in. wide, of cotton, flax, hemp, or jute, or of mixtures ° thereof, the fair market value of which, as defined in section 40 of " The Customs Laws Consolidation Act, 1882," in the country whence the same were exported, is less than 4d. per yard Eailway plant, and materials, not otherwise enumerated, for the construction of railways and tramways ... Sulphuric acid Slates, roofing ... ... ... ... ... ....
Aerated and mineral waters ... ... ... ... Bags, flour and hessian ... Baskets and wickerware ... Bellows, other than blacksmiths' Bicycles and tricycles, and parts of same Brass cocks, valves, unions, lubricators, and whistles Building materials not otherwise enumerated Castings of metals not otherwise enumerated ... ... ... ... 8 * Chaff ... ... .... ... ... ... ... I Cork soles and socks ... ... ... ... ... ... -S Drain pipes and tiles ... ... ... ... ... ... s Glue ... ... ... ... ... ... ... 1 Iron bolt-ends, blank nuts and washers ... ... ... .., - „ gates and gate-posts... ... ... ... • ... ... g „ girders and columns for buildings ... ... ... ... ° Magic-lanterns, and all apparatus and appliances for same ... ... ... © Mouldings, gilt and other ... ... ... ... ... * Paper and-cardboard boxes (not containing goods ordinarily imported therein) ... H Perambulators Printed billheads, advertising posters, and printed papers not otherwise enumerated Provisions, preserved, not otherwise enumerated Pumps and other apparatus for raising water Upholstery Vegetables, preserved and dried Watch-cases and watch-movements ... ... «•*-.
Woollen manufactures, viz., coatings and trouserings; melton, buckskin, and^| . g kersey cloth; tweeds; shepherds' and clan plaids; serge ; shirtings; flannel; g g mantle and costume cloths, tweeds and serges; shawls, plaids, and travelling J-c- «**§ rugs ; carriage-cloth and saddlers' serge; knitted shirts, jerseys, jackets, pants, S » mufflers, hose and socks, wheeling, fingering and hosiery yarn ... ... J ft"§
Apparel and clothing of every description, not otherwise enumerated, whether wholly or partly made up Blankets and woollen rugs ... ... ... ... ... "§ | Carpets and drugget ... ... ... ••• ... .... -o._fc Carpet bags ... ... ... ■ • • •• • • ■ • S3 § Carriages and carriage-wheels ... ... ••■ ... "'■ o Fruits, bottled ... ... ... ••• ••• ...Jcq
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Resolved, That on all goods, wares, and merchandise not enumerated above, or in the table of duties of Customs annexed to " The Customs Duties Consolidation Act, 1882," and not included in the list of articles exempted from duty by subsequent resolution, there shall be charged a duty of ten per cent, ad valorem. Resolved, That, in the event of any of the duties hereby imposed not being confirmed, or of reductions being made in the rates specified above, the amounts levied, collected, and paid in excess of the duties, as may be imposed by the Customs Act based on these resolutions, shall be refunded to the persons who paid the same. Resolved, That the under-mentioned articles shall be exempt from duty on the importation thereof into the colony : —
Acid, boracic, carbolic, fluoric, muriatic, oxalic, and salicylic. Acids, for medicinal, chemical, or manufacturing purposes, not otherwise enumerated. Albo carbon. Ambergris. Anatomical preparations. Aniline dyes, crystal. Animal carbon. Animals, living. Annato and annato seed. Argol or crude tartar. Asbestos. Asphalte. Asphixiator for rabbit-killing. Axe and hatchet handles. Bamboos, unmanufactured. Bank notes. Barilla. Bass. Beche-de-mer. Belting, cotton, flax, and indiarubber. Bismuth. Bisulphide of carbon. Blacksmiths' bellows. Blocks, iron. Blue, ultramarine. Boats. Boiler, composition (rocket). Bones, crude, ground, or burnt. Books, printed, magazines, and newspapers. Bookbinders' thick vellum. Bootmakers' materials, viz., cashmere, felt, flushing, lasting, webbing, and royal cord for slippers. Boxes, cardboard, materials for, viz., gold and silver paper, plain and embossed; gelatine and coloured papers known as box papers. Brass rods and tubes. Brazil pebbles and pebbles for spectacles, rough. Brushmakers' corrugated brace braids. Brown-windsor and honey composition for soap manufacture. Bunting, suitable only for ships' flags. Candlenuts and candlenut kernels. Candle-wick. Carriage- and cart-makers' materials, viz., brass carriage-hinges, lamps, lining nails, and transfer ornaments, and American cloth in drill, duck, and moleskin, and in muslin when japanned on both sides.
Caoutchouc, crude. Casks, empty. Casts, plaster, for drawing models for schools. Caulking irons. Chains, iron. „ twisted, coil. Chloride of lime. Chronometers, ships', not being chronometer watches. , Church clocks, altar cloths, and furniture specially imported for places of public worship. Cocoa-butter. Cocoanuts. Cochineal. Composition, anti-fouling, for ships' bottoms. Copper, Brass or Bronze, in ingots, bars, tubes, or sheets. Copper rivets and washers „ sulphate of. Copra. Coral. Cork, unmanufactured. Cotterpins. Cotton, raw. Creosote, crude. Deck-sceapees and scrubs. Dextrine. Diamonds, glaziers'. Disinfecting fluid. Diving dress, apparatus, and fittings. Draining tools. Dye-stuffs and dyeing and tanning materials, crude. Electeic-light, apparatus & machinery. „ incandescent lamps. Emery cloth. Fibee, cocoanut. Files, blacksmiths'. Fire-brigade helmets, belts, axes, lamps, tools, hydrants, hose-nozels and couplings, and ladders. Fire-destroying liquid. Flax, unmanufactured. Flock. Fruits, green. Fullers' earth in bulk. Gaeden tools. Gas engines. Glassmakers' moulds. Glass globes for ships' masthead lights. Gold leaf.
XXII
Grain musk. Grindstones. Guano. Gypsum. Grindery, viz., lasting-tacks, brass and iron rivets; brass, iron, and copper cutbills; steel points and spar-row-bills ; wrought, cut, and malleable hobnails, Hungarian nails, wrought and cut tip nails, bristles, shoemakers' hemp and flax, eyelets and hook-eyelets, tingles, copper toes, punching and eyeleting machines; sole, steel, stiffening, and toe-cap knives; heel balls and burnishing ink, and rivetting stands for iron lasts. Gutter bolts and nuts, galvanized. Haie, unmanufactured. Hair cloth for hop kilns. Handles, wooden, for artificers' tools. Hay-forks. Hatmakers' materials, viz., hat linings and ventilators. Hemp. Hides and skins, undressed. Hones and whetstones. Hooks and thimbles, iron. Horns and hoofs. Horse-rasps. Hose, indiarubber and canvas. Indiaeubbee, sheet, for engine-packing. Indigo. Iron, angle and T. „ gas and water pipes. „ range screws. „ rails for railways and tramways. „ wire not otherwise enumerated. „ tubes, tees, elbows, bends, and crosses for water and gas pipes. Isinglass, purse, for brewers. Ivory and vegetable ivory, unmanufacfactured. Ivory black. Jabs, containing vinegar or sulphuric and other similar acids. Jute. Knitting machines. Lamps, safety, for collieries. Leather dressing. Lemon and lime-juice, unsweetened. Lighthouse apparatus. Limbs, artificial. Lithographic stones. Machineby for— Biscuit-making. Boot- and shoe-making. Candle-making. Cheese-making. Confectionery-making. Fleshing pelts. Hat-making. Lead-pipe-making. Leather-splitting. Meat-freezing. Perforating paper. Sugar-making and refining. Threshing. Tinsmiths. Magnets.
b,-i.
Manchester yellow, for soap-colouring. Manures. Marble and stone, unwrought. Meerschaum, unmanufactured. Medals. Memorial tablets. Metal sheaves for blocks. Millstones. Models of inventions or improvements, but not such as can be fitted for use. Music, printed. Naphtha. Needles. Oakum and junk. Oars, ash. Orange, lemon, and citron peel, not preserved with sugar. Paintings, drawings, casts, statuary, works of art, philosophical apparatus or instruments, specimens of coins, medals, gems, and curiosities, presented to or imported by any museum, public library, or other public institution for use therein, or for public exhibition. Passengers' baggage and cabin furniture ; also household furniture and personal effects, not imported for sale, belonging to passengers arriving in the colony for the first time, or to New Zealand settlers who have died out of the colony. Plants, bulbs, shrubs, and trees. Plate, communion. Plates, iron, for malt-kilns. Plaster of Paris. Plumbago. Potash, crude. Precious stones, uncut. Provisions and stores, military and naval, required for Her Majesty's land or sea forces. Pulu. Quicksilver. Battans, split or unsplit. Beaping, and binding, and threshing machines. Bennets. Eifles and other military small arms, ordnance, and other war material other than rifle ammunition, gunpowder, and explosives, imported for the service of the colony and at the public charge. Bosin. Botten-stone. Saddlees' ironmongery and materials, viz., stirrup-irons, trace chains cut or uncut, back bands, bits, clouttacks, and articles of iron or metal required to complete riding or driving harness for horses. Sal ammoniac. Salt. „ rock. Scientific apparatus. Seeds, not otherwise enumerated, for a r - cultural and horticultural purposes.
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Seeds of forest trees. Shells (fish), crude. Ship-chandlery, not otherwise enumerated. Ships' fittings, which have been used on voyage. Silver plates, plain, rolled, and unadorned. Soda nitrate. „ silicate. Solder. Specie and bullion. Specimens of natural history, mineralogy, or botany, and antique curiosities. Spelter. Spirits, methylated. Statues and pictures, imported for places of public worship or convent chapels. Staves, oak Steam-hammers. Steel, bar, rod, and plate, and steel rails for railways and tramways. Straw-plait for bonnet-making. Sulphur, crude. Sumach. Surgical instruments. Surgical operating tables. Surveyors' instruments. Tamaeinds. Teasels. '
I Telephones. Tinfoil. Timber, baulk or sawn, viz., ash, blackwood, box, cedar, ebony, lancewood, mahogany, oak, rosewood, sandalwood, and satinwood. Tow. Turtle and tortoise shell, unmanufactured. Vegetables, fresh. Venetian-blind cord, tape, and webbing. Vices, blacksmiths' and bench. Watchmakees' materials not otherwise enumerated, and unfinished parts of watches. Wagon-cover and rick-cover canvas. Whalebone, unmanufactured. Windows, stained glass and memorial, imported for places of public worship or for public buildings. Wire cloth for quartz-crushing machinery. „ rope. „ gold-beaded and galerie. Woollen felt, plain, unprinted, for horsecloths. Yaen, flax and Italian. 1 Zinc, chloride of.
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TABLES TO ACCOMPANY THE FOREGOING STATEMENT.
PAGE Table No. I.—Abstract of Receipts and Expenditube ov the Financial Year ended 31st March, 1885 2 Table No. 2.—Statement of the Revenue of the Consolidated Fund for the Financial Years 1880-81 to 1884-85 .. .. .. .. .. .. .. .. 13 Table No. 3. —Statement of the Estimated Liabilities of the Consolidated Fund outstanding on 31st March, 1881, 1882, 1883, 1884, and 1885 .. .. .. .. ..14 Table No. 4.—The Public Debt on 31st March, 1885 .. .. .. .. .. .. 15 Table No. s.—Statement showing the Total Ways and Means of the Public Works Fund and the Total Net Expenditure to the 31st March, 1885 .. .. .. .. .. 17 Table No. 6. —Statement of the Estimated Liabilities of the Public Works Fund outstanding on 31st March, 1881, 1882, 1883, 1884, and 1885 .. .. .. .. .. 18 Table No. 7. —Total Expenditure on Roads and Bridges out of Loan and Revenue during Years 1876-77 to 1884-85 .. .. .. .. .. .. .. ..18 4—B. 1.
2
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Table STATEMENT of the RECEIPTS and EXPENDITURE of the ORDINARY REVENUE
LAND FUND
RECEIPTS. Balance on 31st March, 1884,— Cash in the Public Account Advances in the hands of Officers of the Government, — In the Colony In London £ s. d. 14,249 18 8 28,190 18 4 £ s. d. 203,447 4 5 £ s. d. 42,440 17 0 245,888 1 5 Ordinary Revenue, — Customs Stamps (including " Postal " Cash Receipts) Property-Tax Beer Duty Railways Telegraphic Registration and other Fees Marine Miscellaneous 1,411,102 8 11 510,018 14 7 145,379 12 1 55,714 13 10 1,050,742 18 6 95,787 18 11 36,449 8 3 13,393 6 4 57,729 16 3 Territorial Revenue, — Depasturing Licenses, Rents, &c. Miscellaneous 3,376,318 17 8 185,241 1 9 7,934 4 1 193,175 5 10 Debentures issued under " The Consolidated Stock Act, 1884," — Eor accretions of Sinking Eund for the current year Por redemption of Debentures of " The General Purposes Loan Act, 1873 " .. .. .. 247,700 0 0 3,569,494 3 6 20,900 0 0 268,600 0 0 Receipts in Aid, — Deficiency Bills issued under the Public Revenues Acts, — To provide for the deficit of the Year 1883-84 On account of the current year 3,838,094 3 6 150,000 0 0 200,000 0 0 350,000 0 0 Total £4,433,982 4 11
Balance on 31st March, 1884, — Cash in the Public Account Advances in the hands of Officers of the Government, — In the Colony In London. 5,212 8 0 77 10 3 75,157 8 3 5,289 18 3 Land Sales, — Por Cash On Deferred Payments 80,447 6 6 92,431 19 7 68,536 17 7 160,968 17 2 Total £241,416 3 8
B— 1.
No. 1. CONSOLIDATED FUND for the Financial Year ended 31st March, 1885. ACCOUNT.
ACCOUNT.
3
EXPENDITURE. Permanent Appropriations, — Civil List Interest and Sinking Pund Under Special Acts of tho Legislature .. .. Ellesmere and Forsyth Reclamation and Akaroa Railway Trust Endowments under " The Greymouth Harbour Board Act, 1884" Endowments under " The Westport Harbour Board Act, 1884" £ s. d. 31,597 17 4 1,570,988 11 10 61,943 12 1 59 18 7 £ s. d. £ s. d. 2,420 0 0 670 0 0 1,667,679 19 10 Annual Appropriations, — Class I.—Legislative ,, II.—Colonial Secretary ,, III. —Colonial Treasurer ,, IV. —Minister of Justice ,, V. —Postmaster-General „ VI. —Commissioner of Trade and Customs ,, VII. —Commissioner of Stamps .. „ VIIL—Minister of Education „ IX.—Minister of Native Affairs .. ,, X.—Minister of Mines „ XL—Minister for Public Works.. „ XII.—Minister of Defence 66,943 5 11 251,762 18 2 58,166 11 11 117,404 14 2 255,160 15 3 80,978 10 10 25,964 1 11 334,196 17 6 17,933 16 0 15,585 9 2 714,845 14 6 182,586 9 2 Services not provided for .. Debentures of " The General Purposes Loan Act, 1873" redeemed Deficiency Bills redeemed 2,121,529 4 6 5,981 17 8 3,795,191 2 0 20,900 0 0 398,000 0 0 Balance on 31st March, 1885, — Cash in the Public Account Advances in the hands of Officers of the Government,— In the Colony In London 14,457 17 11 19,035 13 2 186,397 11 10 219,891 2 11 33,493 11 1 Total £4,433,982 4 11
Permanent Appropriations, — One-third of proceeds of land sold on Deferred Payments paid to Local Bodies New Plymouth Harbour Board Endowment Ellesmere and Forsyth Reclamation and Akaroa Railway Trust 18,802 12 3 3,132 0 4 4,053 2 3 25,987 14 10 Annual Appropriations, — Class XIII. —Minister of Lands ,, XIV. —Rates on Crown and Native Lands.. 145,444 19 4 37,585 2 3 183,030 1 7 467 0 0 Services not provided for .. .. .. ... Balance on 31st March, 1885,— Cash in the Public Account Advances in the hands of Officers of tho Government, — In the Colony In London 209,484 16 5 27,792 0 6 3,429 6 9 710 0 0 4,139 6 9 31,931 7 3 Total £241,416 3 8
B-l.
Table STATEMENT of the RECEIPTS and EXPENDITURE of the ACCOUNTS OF
DEPOSIT
Treasury, Wellington, 22nd April, 1885.
4
RECEIPTS. Balance on 31st March, 1884, — Cash in the Public Account £ s. d. £ s. d. £ s. d. 4,604 9 11 Revenue appropriated to Local Bodies, — Fees, Fines, &c. Gold Fields Revenue Gold Duty .. Harbour Board Endowments 3,246 4 7 17,790 16 0 23,255 17 10 3,694 9 3 47,987 7 8 Counties Separate Accounts, — Revenue of Counties in which "The Counties Act, 1876," is not in full operation 306 19 2 48,294 6 10 Total £52,898 16 9
Balance on 31st March, 1884,— Cash in the Public Account Advances in the hands of Officers of the Government, — In the Colony In London 500 0 0 19 095 8 0 54,575 4 9 19,595 8 0 Lodgments,— Armed Constabulary Reward Fund Auckland Museum Endowment Consolidated Stock Act, 1884, Conversion Coromandel Gold Fields, European General Assembly Library Fund Miscellaneous Nelson Rifle Prize Fund New Zealand University Endowment, Canterbury New Zealand University Endowment, Westland Te Aroha Gold Fields, European Thames Gold Fields, European Thames Gold Fields, Suspense.. Thermal-Springs Districts Act, 1881 Westland Loan Act Redemption 151 9 10 959 0 0 359,500 0 0 19 10 0 100 0 0 74,790 16 6 61 2 5 150 0 0 15 5 0 89 18 6 831 7 0 11 14 0 592 10 0 93 10 0 74,170 12 9 437,366 3 3 Total .. .. .. .. .. £511,536 16 0
5
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No. 1 — continued. CONSOLIDATED FUND for the Financial Year ended 31st March, 1885. LOCAL BODIES.
ACCOUNTS.
JAMES 0. GAVIN, Secretary to the Treasury. JAMES B. HEYWOOD, Accountant to the Treasury. Examined and found correct: JAMES EDWARD FITZGERALD, Controller and Auditor-General.
EXPENDITURE. Revenue paid over to Local Bodies, — Fees, Fines, &c. Gold Fields Revenue Gold Duty .. Harbour Board Endowments £ s. d. 3,223 18 8 18,248 14 6 24,921 0 0 113 19 0 £ s. d. £ s. d. 46,507 12 2 Counties Separate Accounts, — Amount distributed amongst Road Boards where "The Counties Act, 1876," is not in full operation 196 9 2 Advance Account, — Net amount paid on behalf of Local Bodies 25 10 3 Balance on 31st March, 1885 — Cash in the Public Account Advances in the hands of Officers of the Government, — In the Colony 46,729 11 7 6,168 1 11 13 3 6,169 5 2 Total .. £52,898 16 9
Withdrawals, — Armed Constabulary Reward Fund Auckland Museum Endowment Canterbury Surplus Land Revenue Consolidated Stock Act, 1884, Conversion Coromandel Gold Fields, European General Assembly Library Fund .. .. Miscellaneous Nelson Rifle Prize Fund New Zealand University Endowment, Taranaki Otago Educational Reserve Receiver-General's Deposits Te Aroha Gold Fields, European Thames Gold Fields, European Thames Gold Fields, Suspense Thermal-Springs Districts Act, 1881 Westland Loan Act Redemption Working Railways Deposits 122 0 4 911 16 3 202 9 10 356,500 0 0 19 10 0 100 0 0 71,492 11 10 115 10 0 32 17 4 3,128 17 9 3,000 0 0 89 18 6 900 0 6 423 14 4 515 0 0 119 17 6 23 14 0 Balance on 31st March, 1885, — Cash in the Public Account Advances in the hands of Officers of the Government, — In the Colony .. .. .. .. ,. In London 46,931 14 8 437,697 18 2 330 12 8 26,576 10 6 26,907 3 2 73,838 17 10 Total £511,536 16 0
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Table STATEMENT of the RECEIPTS and EXPENDITURE of the PUBLIC ORDINARY LOAN
THE MAIN ROADS
6
RECEIPTS. Balance on 31st March, 1884, — Cash in the Public Account Advances in the hands of Officers of the Government, — In tho Colony In London £ s. d. £ s. d. 142,428 8 5 £ s. d. 45,940 14 7 156,543 8 10 202,484 3 5 Investments, — Imperial Guaranteed Debentures, unissued Treasury Bills, 1879 and 1880, 5 per cent. Scrip convertible into 4 per cent. Duntroon and Hakateramea Railway Company Debentures 50,000 0 0 74,000 0 0 20,000 0 0 144,000 0 0 New Zealand Loan Act, 1882, — Balance of Second Million Loan Instalments on account of Third Million Loan 389,000 0 0 845,000 0 0 488,912 11 10 Deficiency Bills issued under " The Public Revenues Act, 1884 " Special receipts under section 9 of " The Railways Construction Act, 1878 " .. Temporary advances 1,234,000 0 0 100,000 0 0 4,113 0 10 500,000 0 0 1,838,113 0 10 Total £2,327,025 12 8
£ s. a. £ s. d. £ s. d. Amounts transferred, — From Vote No. 109, Class V., Roads Under section 3 of " The Roads and Bridges Construction Act, 1882 109,674 18 3 120,178 10 7 10,503 12 4 Debentures due 1st May, 1884, — Paid by Counties, — Bruce Clutha Cook Manawatu Oroua Piako .. .. .. ... Rangitikei Taranaki Thames Waihemo Waikato Waipa Wairarapa East Wairarapa West 57 2 6 282 15 0 292 11 0 322 16 0 167 5 6 109 6 6 189 2 9 56 5 0 313 7 0 75 0 0 175 9 11 21 11 6 235 4 10 73 7 0 Paid by Boroughs,— Hamilton Paid by Road Boards, — Eden Terrace Howick Paparoa Pokeno Pukekohe Wairoa 2,371 4 6 8 9 0 1 17 6 1 17 6 18 15 0 37 10 0 7 10 0 3 15 0 75 19 0 2,450 18 6 Carried forward 122,629 9 1
B.—l.
No. 1-continued. WORKS FUND for the Financial Year ended 31st March, 1885. ACCOUNT.
ACCOUNT.
7
EXPENDITURE. Annual Appropriations,— Class I.—Immigration ,, II.—Public Works, Departmental ,, III. —Railways „ IV. —Surveys of New Lines ,, V. —Roads ,, VI. —Waterworks on Gold Fields ,, VII.—Land Purchases .. ,, VIII. —Telegraph Extension IX.—Public Buildings „ X.—Lighthouses and Harbour Works .. „ XL—Charges and Expenses of raising Loans £ s. d. 57.148 9 2 30.149 11 5 645,212 4 6 17,851 3 1 167,060 19 3 8,029 1 9 70,571 13 0 25,799 4 9 117,361 2 0 34,033 7 0 13,521 8 5 £ s. d. £ s. d. Services not provided f or .. Transfers under " The Roads and Bridges Construction Act, 1882,"— From Vote 109, Class V., Roads Under section 3 of the Act Under section 21 of the Act 1,186,738 4 4 6 18 9 123,075 9 2 10,503 12 4 16,403 0 4 149,982 1 10 Balance on 31st March, 1885, — Cash in the Public Account Advances in the hands of Officers of the Government, — In the Colony In London 527,992 3 1 1,336,727 4 11 14,248 11 7 237,158 18 1 251,407 9 8 Investments, — Imperial Guaranteed Debentures, unissued 4 per cent. Consolidated Stock Stock Agents Conversion Account, London, Advances in respect of Conversion into 4 per cent. Stock Duntroon and Hakateramea Railway Company Debentures 15,000 0 0 121,000 0 0 54,898 15 0 210,898 15 0 990,298 7 9 £2,327,025 12 8 20,000 0 0 Total
Payments to Counties, — Akaroa—In respect of Grant of Ashburton ,, „ Bay of Islands ,, ,, ,, ,, ,, Bruce ,, ,, ,, ,, ,, ,, 5, ,, ,, ,, ,, Clutha ,, ,, Cook „ ,, ,, ,, ,, Geraldine ,, ,, ,, 5, 5, Grey Hawera ,, ,, II JJ 5, J, JJ ; JJ JJ JJ JJ Hawke's Bay „ „ jj jj jj Hobson ,, ,, Hutt „ Inangahua „ ,, Kaikoura ,, ,, Lake „ „ Mackenzie „ ,, Manawatu „ „ jj jj j, jj jj jj jj jj jj jj jj jj Maniototo „ „ jj jj jj jj jj jj Mongonui „ „ Oroua „ ,, jj jj jj £750 £430 £253 £759 £640 £375 £253 £132 £11,292 £1,084 £10,316 £1,000 £159 £92 £2,938 £470 £3,301 £320 £929 £400 £570 £180 £650 £454 £51 £876 £750 £363 £900 £1,350 £75 £75 £40 £2,812 £600 £750 £750 £323 £314 £ s. d. £ s. a. £ s. a, 750 0 0 430 0 0 253 0 0 441 0 0 640 0 0 375 0 0 253 0 0 132 0 0 5,270 17 10 1,084 0 0 694 0 0 1,000 0 0 159 0 0 92 0 0 2,938 0 0 470 0 0 2,430 11 4 320 0 0 929 0 0 400 0 0 570 0 0 180 0 0 650 0 0 454 0 0 51 0 0 552 0 0 750 0 0 363 0 0 900 0 0 1,350 0 0 75 0 0 75 0 0 40 0 0 1,903 7 4 520 15 0 750 0 0 750 0 0 323 0 0 314 0 0 Carried forward .. 29,632 11 6
8.-l.
8
Table STATEMENT of the RECEIPTS and EXPENDITURE of the PUBLIC THE MAIN ROADS
RECEIPTS. Brought forward .. £ s. a. £ s. a. £ s. a. 122,629 9 1 Carried forward .. 122,629 9 1 t 9
B.—l.
No. 1—continued. WORKS FUND or the Financial Year ended 31st March, 1885. ACCOUNT— continued.
s—B. 1.
9
EXPENDITURE. Brought forward £ s. d. 29,632 11 6 £ s. a. £ s. d. j Payment to Counties — continued. Patea —In respect of Grant 'of £264 Piako „ i) £514 £400 £1.875 £400 Rangitikei „ „ £6,255 „ „ „ £43 £562 10s. £650 10s. £660 £290 £1,120 Rodney „ „ £306 Southland „ „ £15,799 Taieri „ „ £1,877 £377 Taranaki ',', ',', £2,350 £750 Tauranga „ „ £4,038 £962 Thames „ „ £11,534 £1,000 Tuapeka ,, „ £6,767 £1,240 Vincent „ „ £1,472 £750 Waihemo „ „ £3,000 £1,735 £653 Waikato ,, ,, £563 £1,713 £1,474 Waikouaiti ,, ,, £397 £750 £2,250 Waimate ,, „ £8,173 £135 £825 £585 Waimea „ „ £2,000 Waipa „ ,, £863 £642 Waipawa „ ,, £577 „ „ „ £633 Wairarapa East „ „ £9,40915s. ld. .. £494 £858 Wairarapa West „ ,, £2,930 £329 £1,307 £1,247 Wairoa ,, ,, £1,988 £2,050 „ „ £41 Waitaki „ „ £277 £1,057 £695 " „ ,. £756 Waitemata ,, ,, £716 Wallace „ „ £776 £3,937 Wanganui ,, ,, £1,240 „ „ „ £360 Westland „ „ £747 Whangarei „ ,, £810 Clutha—Refund in respect of Debenture paid 1st May, 1884 264 0 0 114 0 0 840 0 0 400 0 0 375 0 0 400 0 0 3,276 17 8 45 0 0 562 10 0 650 10 0 660 0 0 200 0 0 1,000 0 0 306 0 0 3,809 0 0 1,877 0 0 377 0 0 2,250 0 0 T50 0 0 4,038 0 0 962 0 0 9,830 8 0 527 0 0 3,206 0 9 1,200 0 0 757 7 8 750 0 0 1,381 1 0 1,338 0 0 514 0 0 563 0 0 263 0 0 150 0 0 103 11 10 750 0 0 2,250 0 0 2,512 4 9 135 0 0 767 16 0 353 0 0 1,699 0 0 213 0 0 642 0 0 577 0 0 633 0 0 5,000 0 0 494 0 0 858 0 0 1,061 15 11 329 0 0 561 0 0 200 0 0 1,084 5 0 600 0 0 41 0 0 277 0 0 800 0 0 695 0 0 260 0 0 716 0 0 744 0 0 2,656 0 0 640 0 0 360 0 0 747 0 0 810 0 0 0 9 0 102,839 1 Payments to Boroughs,— Blenheim— In respect of Grant of £169 £281 Gisborne „ „ £1,500 Greymouth „ „ £5,000 Kaiapoi „ „ £1,266 „ ., £3,234 Maori Hill „ „ £1,700 £800 " „ ,, £30 North-East Valley „ „ £1,171 169 0 0 281 0 0 1,000 0 0 5,000 0 0 1,266 0 0 2,910 0 0 1,700 0 0 800 0 0 30 0 0 1,171 0 0 Carried forward 14,327 0 0 117,166 9 1
B.—l.
Table STATEMENT of the RECEIPTS and EXPENDITURE of the PUBLIC THE MAIN ROADS
Treasury, Wellington, 22nd April, 1885.
10
RECEIPTS. Brought forward .. £ s. d. £ s. a. s. a. a. 122,629 9 1 Total £122,629 9 1 THE DI iTRICT RO DS AND Amounts transferred from Vote 109, Class V., Roads Under section 21 of " The Roads and Bridges Construction Act, 1882" .. 13,400 10 11 16,403 0 4 29,803 11 3 Debentures due 1st May, 1884 — Paid by Counties — Rangitikei Paid by Road Boards — Cambridge Carrington No. 4 .. Clinton Hamilton Kiwitea Manchester Masterton Sandon and Carnarvon Tamahere Waitara 90 0 0 36 0 0 315 0 0 31 10 0 312 11 11 1,623 0 0 638 7 0 289 10 7 45 0 0 18 0 0 27 0 0 3,398 19 6 3,425 19 6 1 t Total £33,229 10 9
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11
No. 1— continued. WORKS FUND for the Financial Year ended 31st March, 1885. ACCOUNT— continued.
RIVER WORKS ACCOUNT.
JAMES 0. GAVIN, Secretary to the Treasury. JAMES B. HEYWOOD, Examined and found correct: Accountant to the Treasury. JAMES EDWARD FITZGERALD, Controller and Auditor-General,
EXPENDITURE. Brought forward .. Payments to Road Boards, — Ashley—In respect of Grant of ,j " Eden Terrace ,, Howick Town ,, ,, Hunua ,, ,, Kiwitea ,, ,, JJ ,r ,r Manawatu ,, ,, ,, jj jj Mount Albert „ ,, Opaheke „ ,, Oxford ,, „ ,, j, " Pakuranga ,, „ Papakura ,, ., Paparoa ,, ,, Pokeno „ „ Pukekohe East ,, „ ,, ,, " Waipipi „ ,, Wairoa South „ ,, JJ rr rr Waiuku ,, ,, £194 £124 £30 £57 £92 £200 £335 £156 £156 £960 £92 £22 £78 £178 £69 £54 £750 £1,500 £92 £184 £300 £92 £84 £40 £ s. d. 194 0 0 124 0 0 30 0 0 57 0 0 92 0 0 175 0 0 300 0 0 156 0 0 156 0 0 960 0 0 92 0 0 22 0 0 78 0 0 178 0 0 69 0 0 54 0 0 599 0 0 1,400 0 0 27 6 0 184 0 0 300 0 0 92 0 0 84 0 0 40 0 0 £ s. d. 117,166 9 1 £ s. d. 122,629 9 1 5,463 0 0 Total £122,629 9 1
Payments to Counties, — Ashburton —In respect of Grant of £1,200 Bruce ,, » £833 Clutha „ ,, £3,500 Rangitikei ,, ,, £300 Southland „ „ £1,305 1,200 0 0 833 0 0 831 11 9 300 0 0 438 0 0 3,602 11 9 Payments to Road Boards, — Carrington No. 4—In respect of Grant of £200 Clinton „ „ £3,500 Epsom „ ,, £515 Featherston „ ,, £650 £600 Karioi „ ,. £367 Kiwitea „ „ £3,473 7s. 93. .. Manawatu „ ,, £700 £800 Manchester „ „ £18,033 2s. 6d .. Masterton „ „ £70 8s. £995 £48 £1,240 £7,190 3s. 4d. .. £306 £1,408 Ngaire „ „ £1,000 Oero „ „ £400 Sandon and Carnarvon ,, ,, £3,217 Taotaoroa ,, . » £200 Taratahi-Carterton ,, ,, £1,651 Waitara West No. 11 „ „ £200 200 0 0 1,159 0 0 153 12 0 400 0 0 600 0 0 367 0 0 2,973 7 9 700 0 0 800 0 0 11,534 0 0 70 8 0 700 0 0 48 0 0 1,240 0 0 2,540 14 11 306 0 0 1,408 0 0 500 0 0 225 17 10 719 18 6 200 0 0 1,651 0 0 130 0 0 Payments to Town Boards, — Kihikihi —In respect of Grant of £200 Payments to River Boards, — Pukaka—In respect of Grant of £845 18s. Spring Creek „ „ £600 28,626 19 0 33,229 10 9 200 0 0 200 0 0 600 0 0 800 0 0 Total £33,229 10 9
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12
Table No. 1— continued, SUMMARY of Balances on 31st March, 1885.
Funds. BALANCES. Consolidated Public Wobks Fund. Fund. Suspense Account. Bills Receivable. Totals. £ s. d. £ s. d. £ s. d. 267,289 8 11 64,541 4 3 £ s. d. 527,992 3 1 251,407 9 8 £ s. d. 1,289 1 6 £ n. d. Or. 1,700 0 0 £ s. d. 794,870 13 6 315,948 13 11 Consolidated Fund :— Ordinary Revenue Account Land Fund Account .. Accounts of Local Bodies Deposit Accounts 219,891 2 11 31,931 7 3 6,169 5 2 73,838 17 10 331,830 13 2 Cash Advances Investments — Imperial Guaranteed Debentures 4-per-cent. Consolidated Stock .. Advances to Stock Agents' Conversion Account Duntroon and Hakateramea Railway Company Debentures 15,000 0 0 121,000 0 0 54,898 15 0 15,000 0 0 121,000 0 0 54,898 15 0 Public Woeks Fund :— Ordinary Loan Account 990,298 7 9 20,000 0 0 20,000 0 0 Suspense Account Bills Receivable 1,289 1 6 Dr. 1,700 0 0 Totals Total .. 1,321,718 2 5 331,830 13 2 990,298 7 9 1,289 1 6 Cr. 1,700 0 0 1,321,718 2 5
13
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Table No. 2. STATEMENT of the Revenue of the Consolidated Fund for the Financial Years 1880-81, 1881-82, 1882-83, 1883-84, and 1884-85.
Table No. 3. STATEMENT of the Estimated Liabilities chargeable on the Consolidated Fund outstanding on the 31st March, 1881, 1882, 1883, 1884, and 1885.
1880-81. 1881-82. 1882-83. 1883-84. 1884-85. Customs Stamps Land-Tax Property-Tax Beer Duty Railways Postal Telegraphic Judicial Registration and other Fees Land and Deeds Transfer Marine Miscellaneous £ s. a. 1,307,634 19 3 142,803 8 4 56,428 5 9 219,716 1 0 45,986 19 8 838,622 10 8 149,097 12 7 67,465 8 8 56,222 2 11 32,205 11 3 40,082 19 7 14,220 5 3 69,574 18 8 £ s. a. 1,470,107 18 8 161,115 11 8 1,427 3 7 250,974 17 3 58,555 17 11 884,733 7 8 152,516 9 6 77,555 8 6 58,486 10 5 34,076 8 1 40,740 15 5 15,133 8 5 94,243 13 3 £ s. d. 1,494,463 8 9 444,389 2 0* 157,793 9 4 62,639 8 3 954,740 3 1 £ s. a. 1,396,686 12 11 471,858 18 1 268,774 0 9 57,016 8 2 963,118 19 0 £ s. d. 1,411,102 8 11 510,018 14 7 145,379 12 1 55,714 13 10 1,050,742 18 0 93,135 3 4 92,871 14 4 95,787 18 11 59,690 8 4 37,291 8 0 36,449 8 3 15,656 10 6 49,169 11 11 15,943 0 5 35,578 11 1 13,393 6 4 57,729 16 3 Territorial Revenue, exclusive of Land Sales 3,040,061 3 7 130,163 19 1 3,299,067 10 4 188,502 17 2 3,331,677 5 6 138,573 7 5 3,339,139 12 9 154,519 3 4 3,376,318 17 8 193,175 5 10 Total 3,170,225 2 8 3,488,170 7 6 3,470,250 12 11 13,493,658 16 1 '3,569,494 3 6 * Includes Postal, Judicial, Native Land Duties, and Land and Deeds Revenue.
31st March, 1881. 31st March, 1882. 31st March, 1883. 31st March, 1884. 31st March, 1885. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Obdinaby Revenue Account. Permanent Appropriations, — Civil List Interest and Sinking Fund Under Special Acts of tho Legislature 300 0 0 22333*' 0 0 168 0 0 24,000 0 0 165 0 0 4,470 0 0 957 0 0 421 0 0 584' 0 0 350 0 0 684,' 0 0 525 0 0 24,168 0 0 5,592 0 0 1,005 0 0 1,034 0 0 Annual Appropriations,— Class I. —Legislative II.—Colonial Secretary „ III.—Colonial Treasurer IV.—Minister of Justice „ V.—Postmaster-General „ VI. —Commissioner of Customs „ VII.—Commissioner of Stamps „ VIII. —Minister of Education.. „ IX. —Minister of Native Affairs X.—Minister of Mines „ XI. —Minister for Public Works „ XII. —Minister of Defence .. 22,490 0 0 2,164 0 0 5,110 0 0 8,160 0 0 4,334 0 0 521 0 0 3,550 0 0 1,267 0 0 7,820 0 0 86,596 0 0 22,971 0 0 25 0 0 14,881 0 0 767 0 0 3,305 0 0 12,939 0 0 1,849 0 0 1,150 0 0 2,340 0 0 2,737 0 0 8,550 0 0 71,754 0 0 19,578 0 0 719 0 0 16,604 0 0 6,480 0 0 3,010 0 0 9,920 0 0 3,394 0 0 1,326 0 0 2,500 0 0 1,939 0 0 6,805 0 0 82,735 0 0 35,500 0 0 19,802 0 0 1,765 0 0 2,610 0 0 3,856 0 0 4,310 0 0 1,871 0 0 4,686 0 0 1,415 0 0 2,437 0 0 103,169 0 0 19,831 0 0 17,174 0 0 1,295 0 0 3,111 0 0 5,862 0 0 2,689 0 0 2,122 0 0 3,578 0 0 700 0 0 3,270 0 0 106,244 0 0 14,888 0 0 164,989 0 0 139,875 0 0 170,938 0 0 165,752 0 0 160,933 0 0 Services not provided for .. 351 0 0 Totals, Ordinary Revenue Account 165,514 0 0 164,394 0 0 176,530 0 0 166,757 0 0 161,967 0 0 Land Fund Account. Annual Appropriations, — Class XIII.—Minister of Lands .. „ XIV. —Colonial Treasurer .. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. 8,956 0 0 11,805 0 0 13,331 0 0 16,072 0 0 7,610 0 0 12,362 0 0 23,258 0 0 8,956 0 0 11,805 0 0 13,331 0 0 23,682 0 0 35,620 0 0 Special Appropriations, — Subsidies paid to Local Bodies, 1880-81 One-third of Land Sales on Deferred Payments New Plymouth Harbour Board Ellesmere and Forsyth Reclamation and Akaroa Railway Trust 100 0 0 12,620 0 0 15,619 0 0 13,384 0 0 14,109 0 0 9,895 0 0 10,495 0 0 2,054 0 0 267 0 0 1,830 0 0 Totals, Land Fund Account 28,606 0 0 13,384 0 0 14,109 0 0 9,895 0 0 14,379 0 0 37,502 0 0 25,189 0 0 27,440 0 0 33,577 0 0 49,999 0 0
14
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Table No. 4. The PUBLIC DEBT of NEW ZEALAND on 31st March, 1885.
Annual Charge. Sinking Funds Debentures and Stoc: in Circulation. accrued (including Estimate for Net Loans. Interest. Sinking Fund. Indebtedness. h Qua 1885). Rate. Amount. Total. Amount. When redeemable. Rate Amount. Under Acts of the Colonial Government :— £ £ £ s. d. £ s. d. p. cent. £ s. d. p. cent. £ s. d. £ *. d. Ordinance of Legislative Council ... 3" On presentation 311 0 o New Zealand Loan Act, 1856 ... < 375,°oo 25,000 50,000 50,000 >- 500,000 January, 1888 October, 1888 October, 1889 June, 1894 >• 492,281 o o 7,719 o o 20,000 o o 20,000 o o New Zealand Loan Act, i860 93,100 1 July, 189 1 84,869 10 4 1 8,230 9 8 6 5,586 o o 2 1,862 o o 7,448 o o r New Zealand Loan Act, 1863 ... -, I 488,000 500,000 201,500 236,000 93,900 1 i- 1,519,400 15 .My, 19'4 1 November, 1915 15 March, 1891 15 June, 189 1 15 December, 1891 f 628,203 o ° 891,197 o o f S 4 ■ 6 6 I 6 24,400 o o 20,000 o o 12,090 o o 14,160 o o 5,634 o o 1 2 4,880 o o 5,000 o o 4,030 o o 4,720 o o 1,878 o o 29,280 o o 25,000 o o 16,120 o o 18,880 o o 7,512 o o J 2 2 Consolidated Loan Act, 1867 ... < 7,283,100 64,000 13,000 f 7,360,100 36 years from issue 1 January, 1893 15 April, 1913 r 5 5 4 5 . 41 4 4 I 4i I 4 I. 4i 364,155 o o 3,200 o o 520 o o 1 72,831 o o 436,986 o o 3,200 o o 520 o o Defence and Other Purposes Loan Act, 1870 -{ 50,000 25,000 75,000 I- 150,000 J 31 December, 1885 1 July, 1910 15 April, 1913 2,500 o o 1,125 o o 3,000 o o ... 2,500 o o 1,125 o o 3,000 o o 1,717,360 o o 6,594,140 o o r Immigration and Public Works Loan Act, 1870") 372,100 27,900 200,000 201,400 1 }- 801,400 J 15 April, 1913 15 April, 1913 1 June, 1907 I Feb., 1904 (5/30) 14,884 o o 1,255 I0 o 8,000 o o 9,063 b o "2* 14,884 o o 1,255 IO o 28,000 o o 9,063 o o 714,600 o o 20,000 o o I Immigration and Public Works Loan Act, 1873 714,600 1 Feb., 1904 (5/30) 4i 3 2>'57 ° o 32,157 o o Carried forward 11,138,911 656,930 10 o 2,922,713 10 4 8,216,197 9 8 541,729 10 o 115,201 o o * On the whole of the one millii of Imperial Guaranteed Debentures.
15
B.—l.
Table No. 4 — continued. The PUBLIC DEBT of NEW ZEALAND on 31st March, 1885— continued.
Annual Charge. Debentures and Stock in Circulation. Sinking Funds Net Loans. Indebtedness. Interest. Sinking Fund. accrued. Total. Amount. When redeemable. Rate. Amount. Rate. Amount. Brought forward £ £ 11,138,911 £ s. d. 2,922,713 10 4 £ s. d. 8,216,197 9 8 p. cent. £ s. d. 541,729 10 o p. cent. £ s. d. 115,201 o o £ s. d. 656.93° I0 o Under Acts of the Colonial Government — continued. 12,300 49,500 18,500 6,200 54.700 }■ 141,200 15 May, 1914 15 December, 1888 15 October, 19 13 15 October, 1885 28 November, 1914 15 April, 1894 1 Feb., 1905 (5/30) 1 Mar., 1918 (10/40) 1 Mar., 1918, (10/40) 1 November, 1929 1 November, 1889 SI J J 141,200 o o r General Purposes Loan Act, 1873 .,. ■{ Westland Loan Act, 1873 ... Immigration and Public Works Loan Act, 1874 New Zealand Loan Act, 5876 New Zealand Loan Act, 1877 New Zealand Consolidated Stock Act, 1877 New Zealand Loan Act, 1879 New Zealand Colonial Inscribed Stock Loan Act, 1882 New Zealand Consolidated Stock Act, 1884 f 4 5 • 4 4* I 5 5 4i 5 5 4 5 492 o o 2,475 o ° 740 o 0 279 o o 2,735 o o 2,500 o o 91.354 10 o 50,000 o o 125,000 o o 585,400 8 10 26,200 o o ... ... ... i ••• 492 o o 2,475 o ° 740 o o 279 o o 2,735 ° ° 2,500 o o 91,354 10 o 50,000 o o 125,000 o o 585,400 8 10 26,200 o o I '•• 50,000 2,030,100 1,000,000 2,500,000 524,000 50,000 o o 2,030,100 o o 1,000,000 o o 2,500,000 o o i4> 635> 011 o o 524,000 o o 250,000 359.5°° 1 November, 1888 28 November, 1891 250,000 o o 359,500 o o 5 4* 12,500 o o 16,177 10 o 12,500 o o 16,177 IO ° Under Acts or Ordinances of the late Provincial Governments: — Auckland Loan Act, 1863 ... Wellington Loan Act, 1866 Nelson Loan Act, 1874 Lyttelton and Christchurch Railway Loan Ordinance, i860 ... Canterbury Loan Ordinance, 1862 Otago Loan Ordinance, 1862 31,600 13.5°° 15,000 J 32,906,022 1 June, 1896 1 July, 1886 14,460 o 7 9,288 15 1 17,139 19 5 4,211 4 11 15,000 o o 6 8 7 1,896 o o 1,080 o o 1,050 o o 2 2 632 o o 270 o o I I 2,528 o o 1,350 o o 1,050 o o 77,700 22,800 116,700 30 years from issue 50 years from issue 1 July, 1898 46,600 16 7 45> I38 "'I 31.099 3 5 19,078 16 11 71,561 8 1 6 6 6 4,662 o o 1,368 o o 7,002 o o 1,474,640 18 10 2 1 1,554 ° o 228 o o 1,167 ° ° 6,216 o o 1,596 o o 8,169 o o 1.593.692 18 10 1 Advances on Security of Debentures: — Immigration and Public Works Loan Act, 1870 1 June, 1907 3,041,922 17 7 29,864,099 2 5 119,052 o o 785,000 33,691,022 785,000 o o 1,474,640 18 10 1.593,692 18 10 Totals 30,649,099 2 5 119,052 o o 3,041,922 17 7 * Rate of interest varies, as the debentures are employed fc Note. — The above total of £33,691,022 is exclusive of £450,000 for Di ir temporary borrowing, sficiency Bills temporarily issued.
13.—1.
Table No. 5. STATEMENT showing the Total Ways and Means of the Public Works Fund and the Total Net Expenditure to the 31st March, 1885.
16
WAYS AND MEANS. NET EXPENDITURE. £ s. d. £ s. d. Immigration and Public Works Loan, 18Y0 Immigration and Public Works Loan, 1873 Immigration and Public Works Loan, 1874 General Purposes Loan, 1873 New Zealand Loan Act, 1876 New Zealand Loan Act, 1877 New Zealand Loan Act, 1879 New Zealand Loan Act, 1882 New Zealand Colonial Inscribed Stock Loan Act, 1882 New Zealand Loan Act, 1884 £ s. d. £ s. a. 4,100,000 0 0 2, JO,000 0 0 4 000,000 0 0 750,000 0 0 750,000 0 0 2,200,000 0 0 5,000,000 0 0 3,000,000 0 0 250,000 0 0 1,500,000 0 0 Immigration Public Works Department Railways, including Surveys of New Lines Roads Land Purchases Waterworks on Gold Fields Telegraph Extension Public Buildings Lighthouses and Harbour Works Charges and Expenses Contingent Defence Coal Mines Interest and Sinking Fund 2,093,942 1 11 227,596 3 8 11,616,754 8 1 2,273,129 15 9 992,264 6 3 542,228 12 8 484,017 2 0 1,420,914 7 5 462,619 10 3 808,933 0 6 392,218 19 3 10,835 8 0 218,500 0 0 SO,000 0 0 Receipts in Aid :— Contributions of Canterbury Province for Railways .. Stamp Duties to 31st December, 1876 Transfer from Confiscated Lands Liabilities Account Proceeds of Eailway Material handed over to Cook County Council Special Receipts under section 9 of " The Railways Construction Act, 1878 " Deficiency Bills Temporary Advances 56,000 0 0 264,657 16 4 19,963 1 3 4,963 7 4 Roads and Bridges Construction Aot, 1882 — Transferred — To Main Roads Account To District Roads and River Works Account 209,774 18 3 46,605 13 8 ,1 ,543,953 15 9 256,380 11 11 50,048 10 6 100,000 0 0 500,000 0 0 •5,632 15 5 Balance on 31st March, 1885— Cash in the Public Acoount Advances in the hands of officers of the Government Advances to Stock Agents Imperial Guaranteed Debentures Four per Cent. Inscribed Stock Duntroon and Hakateramea Railway Debentures .. 527,992 3 1 251,407 9 8 54,898 15 0 15,000 0 0 121,000 0 0 20,000 0 0 21,800,334 7 8 Balance of Loan of £3,000,000 to be received New Zealand Loan Act, 1884 990,298 7 9 155,000 0 0 1,500,000 0 0 ,298 7 9 £24,445,632 15 5 £24,445,632 15 5 * Subject to redemption of Deficiency Bills £100,000, and repayment of Temporary Advances £500,000, and subject to accounting for advances in the bands of officers.
B.—l.
Table No. 6. STATEMENT of the Estimated Liabilities chargeable on the Public Works Fund outstanding on the 31st March, 1881, 1882, 1883, 1884, and 1885.
Table No. 7. TOTAL EXPENDITURE on Roads and Bridges (including Grants to Municipalities and Road Boards, als Subsidies under Financial Arrangements Acts) out of Public Works and Consolidated Funds Year by Year since 1876-77 (Nine Years).
By Authority : George Didsbury, Government Printer, Wellington.—lBBs.
17
31st March, 1881. 31st March, 1882. 31st March, 1883. 31st March, 1884. 31st March, 1885. Annual Appeopeiations :— Class I.—Immigration „ II. —PublicjWorks, Departmental „ III.—Railways „ IV.—Surveys of New Lines of Railway ,, , V. —Roads „ VI.—Land Purchases.. ,, VII. —Waterworks on Goldfields „ VIII. —Telegraph Extension IX.—Public Buildings „ X.—Lighthouses and Harbour Works Contingent Defence Miscellaneous Public Works £ s. tl. 664 1 6 647 18 3 428,687 1 8 406 6 8 74,411 2 5 997,725 0 0 11,029 17 8 £ s. d. 110 8 3 255 11 1 320,019 11 10 234 15 0 117,840 15 2 338,876 10 3 6,665 16 9 3,500 0 0 84,457 9 1 £ s. d. 20,565 0 0 902 7 5 533,243 16 7 1,600 14 6 186,365 15 8 309,299 0 0 16,659 14 2 9,000 0 0 82,862 2 3 £ s. d. 51,000 0 0 619 6 9 728,955 12 5 8,197 10 9 144,397 8 7 285,400 0 0 7,382 13 0 £ s. d. 8,000 0 0 778 14 3 496,593 3 11 931 15 11 214,124 3 2 173,200 0 0 7,369 0 0 6,000 0 0 10,424 1 7 33,249 18 5 41,752 10 10 100 0 0 7,554 11 8 761 0 9 10,661 17 2 15,138 2 4 119,220 6 11 38,591 8 10 Totals 1,585,512 15 5 880,276 9 10 1,171,160 7 9 1,282,843 4 8 1,036,641 5 9
Consolidated Fund. Defence and Other Purposes Loan. Public Works Fund. Roads and Bridges Construction. Grants to Municipalities and Road Boards. Subsidies under Financial Arrangements Acts. Total. 1876-77 1877-78 1878-79 1879-80 1880-81 1881-82 1882-83 1883-84 1884-85 £ s. d. 42,271 15 1 37,451 17 2 15,987 4 6 17,825 11 5 7,066 2 6 4,031 9 11 1,635 15 3 4,543 12 0 £ s. d. 7,023 4 3 5,720 15 11 £ s. d. 16,003 9 10 81,111 6 11 185,307 4 8 135,436 7 7 230,844 17 10 145,948 15 5 210,605 9 11 222,243 9 7 167,060 19 3 £ s. d. £ s. d. 53,846 15 7 £ s. d. 158,870 19 4 191,708 19 6 270,735 6 2 84,354 4 10 99,686 15 2 £ s. d. 76,873 9 8 287,974 17 3 414,468 1 4 422,158 18 3 333,024 14 1 252,701 13 1 214,636 19 10 330,277 14 11 321,586 13 1 106,398 10 1 149,982 1 10 Totals .. 130,813 7 10 12,744 0 2 1,394,562 1 0 256,380 11 11 53,846 15 7 805,356 5 0 2,653,703 1 6
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Bibliographic details
FINANCIAL STATEMENT (In Committee of Ways and Means, Friday, 19th June, 1885.) BY THE COLONIAL TREASURER, THE HONOURABLE SIR J. VOGEL., Appendix to the Journals of the House of Representatives, 1885 Session I, B-01
Word Count
21,046FINANCIAL STATEMENT (In Committee of Ways and Means, Friday, 19th June, 1885.) BY THE COLONIAL TREASURER, THE HONOURABLE SIR J. VOGEL. Appendix to the Journals of the House of Representatives, 1885 Session I, B-01
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