FINANCIAL STATEMENT (In Committee of Supply, 25th June, 1889) BY THE COLONIAL TREASURER, THE HONOURABLE SIR H. A. ATKINSON.

Appendix to the Journals of the House of Representatives, 1889 Session I, B-06

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1889. NEW ZEALAND.

FINANCIAL STATEMENT (In Committee of Supply, 25th June, 1889) BY THE COLONIAL TREASURER, THE HONOURABLE SIR H. A. ATKINSON.

Mit. Hamlin, — The accounts of the last financial year having been already published, honourable members are in a position to know that the task before me this evening, though not of course without difficulties of its own, is a far more pleasant one than either of those which fell to my lot on the last two occasions upon which it was my duty to present the annual Budget to this Committee. Our trade is reviving, our foreign markets have much improved, and our industries large and small, with hardly an exception, show increased activity and steady progress. The policy of retrenchment and strict economy sanctioned by Parliament in 1887, and since carried out by the Government to the best of their ability, has produced the result which sooner or later was bound to follow ; and I have to-night the pleasure, unusual for some years past, of announcing a surplus. That surplus is not, indeed, a very large one, but it is a surplus; and those only who have really entered into our financial difficulties for the last few years, and felt the responsibility of helping to meet them, can appreciate to the full extent the satisfaction of again finding the balance on the right side of the account. The Committee, I am sure, will feel as I do this satisfaction, and will, at the same time, join with me in the caution that we must now be doubly careful, lest with the return of increased prosperity there should be any return to unwise or unnecessary expenditure. CONSOLIDATED FUND. Expenditure for the Tear 1888-89 (Ordinary Bevenue). The estimated expenditure for the year 1888-89, including the votes taken upon the Supplementary Estimates and charges under special Acts, amounted to .£4,084,054. The actual'expenditure was .-£3,977,265; there was therefore unexpended of the amount authorised £106,789. Honourable members will find particulars of the unexpended appropriations in the tables attached to this Statement and in the Appropriation Account. I may, however, here mention that the nonpayment of any balance of subsidy due to local bodies arises entirely from their neglecting to make application according to law, and that tlie total liability of .£24,677 outstanding on the 31st March last is not unusual in amount, for in March, 1886, there was £51,736, and in March, 1887, c£69,390 outstanding, one moiety of which last two amounts was chargeable against the Consolidated Fund, and the other against the Public Works Fund. Honourable members will observe under Class 8, Education, that one vote —Public schools'—has been exceeded by nearly £6,000, and that art under-issue of nearly £7,000 has occurred on other votes, but chiefly on the vote for school-buildings. For the first time in our finance the vote for last year for school-buildings was charged entirely against the Consolidated Fund. .£30,000 was granted for that purpose, but, when the i—B. 6.

Accounts of last financial year already published.

Surplus announced.

Consolidated Fund. Table No- 2, Expenditure out of ordinary revenue, 1888-89: Estimated, £4,084,054; actual, £3,977,265.

For first time school-buildings charged entirely against Consolidated Fund.

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Government found that it was necessary to exceed the vote for carrying on the public schools by nearly £6,000, we, thinking it right not to exceed the large total voied —£379,093, —determined, as the only means of accomplishing this object, to proportionately diminish the amount to be spent upon buildings. This reduction in expenditure on buildings was made with much regret; but of two desirable objects we had to forego one. In the circumstances, I hope the Committee will approve of the action of the Government. The item is only a small one, but we were acting on the necessary rule that, at whatever temporary sacrifice, we must keep within our income if we wish to keep a sound finance. ' Be venue for the Year 1888-89 (Ordinary Bevenue). The total revenue estimated to be received during the year 1888-89 was =64,162,400; the actual amount received was £4,055,034, so that the revenue as estimated in the Financial Statement exceeded the actual receipts by £107,366. The Customs duties yielded less than the estimate by £55,392. This will probably not surprise members; it is certainly, under the circumstances, not an unreasonable margin of error, taking into account the great difficulty in forming an accurate estimate when something like a complete revision of the tariff takes place during the year for which the estimate is made. The Eailways also yielded less than the estimate by £38,865, but this was counterbalanced by a reduction in the expenditure of a still greater amount, so that the net revenue received was £360,016, instead of £358,162 as estimated. Stamps appear to have yielded less than estimated by £14,329. This arose through an error, which should not have occurred, of twice including in the estimate certain postal receipts, the result of a misunderstanding between the two departments which have to deal with the question of stamps estimates —namely, the Stamp and Postal Departments. Eegistration and other fees fell short of the estimate by £8,273; but the estimate included £11,500 for rates to be received under the District Eailways Purchasing Act, which, however, through the failure of the Bill introduced last year, did not come in. The only item of revenue in the receipts of the year which can be considered exceptional is a sum of £18,000, profit earned by the Public Trust Office. This by law is made revenue, but for some reason the amount has been allowed to accumulate in the office, and has not been paid into the Public Account year by year as it should have been. Of this amount, £2,567 was earned last year, so the latter sum was strictly revenue of the year, and the windfall was only .£15,433. We shall always have such exceptional items on both sides of the account: for instance, in this same year we had to pay a sum nearly as large—namely, £14,911 paid on account of abolition of offices in carrying out retrenchment. Land Fund Expenditure and Bevenue. The estimated expenditure of the Land Fund was £127,423. The actual expenditure proved to be £119,496. The expenditure was therefore less than the estimate by £7,927. Of the expenditure, ,£23,336 was paid to local bodies as contributions in respect of receipts from deferred-payment and perpetual-lease land, and £15,497 for rates on Crown lands. The estimated revenue of the Land Fund was £119,000. The actual receipts were £108,007, being £10,993 less than estimated. The amount received for land sold for cash was £11,008 more than estimated, while the amount received for de-ferred-payment land was £22,001 under the estimate. The deficiency of revenue, however, arose not from the fact of less land being taken up than was expected, for this was not the case, but partly because the perpetual-lease tenure was preferred to the deferred-payment, and chiefly because payment of instalments due was not enforced, the Government having refrained from doing so in fulfilment of their promise to Parliament consequent upon the rejection by the Legislative Council of the Fair Bent Bill. There was outstanding on the 31st March last a-sum of £46,526 due on deferred-payment instalments and perpetual-lease and other rents —£31,785 on the former, and £14,741 on the latter. I may say that Government have had all these holdings revalued, and steps have now been taken to recover the amounts due upon

Ordinary Revenue: Estimated, £4,162,400; actual, £4,055,034. Customs.

Railways: Net revenue estimated, £358,162; actual, £360,016. Stamps.

Eegistration and other fees.

Profit earned by Public Trust Office.

Land Fund Expenditure: Estimated, £127,423; actual, £119,496.

Land Sales: Estimated, £119,000; actual, £108,007.

Perpetual-lease tenure preferred to deferredpayment.

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the new valuation, leaving for the decision of Parliament the question ai to how the balances are to be dealt with. This question is surrounded witl difficulties, owing to the land having been taken up in many cases at far more than its value for -cultivation, and to the very low rates ruling (until quite lately for agricultural produce during the last few years. The Committee will be glac to learn that more settlement has taken place upon the Crown lands of bond fidt settlers during the past year than during any year since 1881. There have been 55,188 acres of land taken up on the deferred-payment system by 35' selectors, 204,642 acres on perpetual lease by 765 selectors, and 70,98^ acres by 653 cash purchasers. This, I think, honourable members will agree is a highly satisfactory record, and shows that, notwithstanding the temporal-} emigration of some of our population—about which I will say a few words presently —our people have not loosened their real hold upon this fine colony, but, on the contrary, have taken a firmer grip by 1,773 of them becoming proprietors oi 330,817 acres more land than was held the year before. It is also evident that the land taken up is passing into the occupation of the people, and not falling into the hands of a few. The expenditure of the Land Fund having been £119,496, as I have stated, and the revenue £108,007, there was a deficiency of £11,489 on the year's transactions. FINANCIAL BESTJLTS OF THE YEAB 1888-89. I have said that the total ordinary revenue received was £4,055,034, and that the total ordinary expenditure amounted to ,£3,977,265; there was, therefore, a surplus for the year of £77,769. This surplus, of course, includes the primage duty, amounting to £46,132; and I have, in accordance with the declared intention of the Government, and the implied sanction of the House, paid off £50,000 of deficiency bills, being part of the bills for £128,600 issued last year to meet the balance of the deficiency on the 31st March, 1888, which was not provided for by the debentures issued in March, 1888. The Committee will, I cam sure, think it a not unsatisfactory result of the efforts to live within our means made last session, and the session before, that the colony has not only raised within this year enough revenue to meet the whole of the necessary ordinary expenditure, including in that a sum of at least £52,000 for purposes which have hitherto been invariably provided for from loan, but has also been able to pay off £50,000 of debt, and still have a small surplus in hand ; and this satisfaction will not, I think, be diminished when honourable members come to critically examine the tables attached to this Statement, including the statement of liabilities and also the Appropriation Account. The statement of liabilities shows that the total amount on the 31st March last, including those of the Land Fund Account, was £152,551; while on the 31st March, 1888, the amount was £144,956 —a difference of about £7,600. But, if we restrict the comparison to the ordinary revenue account, we find that the liabilities on the 31st March last exceeded those of the previous year by £16,154. The liabilities of 1887-88 were, however, exceptionally low; they were far below the average of previous years —indeed, they were no less than £35,700 lower than the liabilities of any year since the present system was brought into operation in 1880-81. The comparison should, therefore, not be made with the previous year, 1887-88, but with the average since 1880-81. That average was £166,600, being about £24,000 more than the amount of the liabilities on the 31st March last. Then, again, if we take the total of the thirteen classes of the annual appropriations we find that the liabilities on the 31st March last were nearly £1,000 less than on the 31st March, 1888, and less by about £40,600 than the average liabilities of the last eight years. I have said that there is a small deficiency of £11,489 in the Land Fund Account, but this, as I have already pointed out, is more than accounted for by the non-collection of rents, and will certainly be made good during the current year. ~, Such, then, are the results of the year, and I venture to think they are results with which the colony may well be satisfied, especially when it is remembered that all this has been accomplished with a large decrease in the public-works expenditure (excluding charges and expenses of raising loans), which has been

; I Greatly 3 increased settlement upon 5 Crown lands.

t I Land passing . into occupation of the people.

Land Fund expenditure exceeded revenue by £11,489.

Financial results 1888-89. Table.No. 2. 1 Ordinary lle- [ venue Account, surplus of - 1 £77,709, including £46,132 primage duty. Have applied £50,000 towards deficit at 31st March, 1888.

Table No. 3. Liabilities, including those of Land Fund, £152,551;

Liabilities of Ordinary Revenue Account, £24,000 under average since 1880-81.

Deficiency of Land Fund due to non-collection of rents.

Eesults of the year satisfactory, in view of large decrease in public-works expenditure.

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for the last four years respectively : 1885-86, £1,239,828 ; 1886-87, £1,106,374 ; 1887-88, £906,711 ; and last year, £528,453 : and of these amounts there was spent within the colony in 1885-86 £1,013,338; in 1880-87, £1,060,474; in 1887-88, £802,711; and last year, £450,353. THE PUBLIC DEBT. The gross public debt on the 31st March, 1888, was £36,758,437 ; on the 31st March, 1889, it was £38,375,050, but deducting the sinking funds accrued, now amounting to £1,395,389, the net debt was £36,979,661, as against £35,545,610 on the 31st March, 1888. The addition to the permanent debt during the last financial year was £1,616,613. There were old loans paid off and new loans raised, the result of the year's operation on the Loan Account being an addition to the permanent debt of £1,616,613; but, on the other hand, it is material to note that by far the greater part of this sum, though borrowed, was not spent, but remained in hand, to the amount of £1,357,696, on the 31st March last. I shall first refer to the loans paid off. Debentures for £25,000 of the New Zealand Loan of 1856, clue Ist October, 1888, and £25,000 due Ist January, 1889, were redeemed by the trustees of the sinking fund of that loan ; debentures for £40,900 of the Consolidated Loan of 1867 drawn for redemption in 1888 were redeemed out of the sinking, funds provided for that purpose ; debentures for £131,600 issued under " The Consolidated Stock Act, 1884," for increases of the sinking funds, were redeemed with cash received by the Treasury from the Crown Agents after the drawing of 1888, as the holders of drawn bonds which had previously been converted; advances to the amount of £500,000, obtained on security of debentures of the North Island Main Trunk Eailway Loan, were repaid out of the proceeds of that loan; an odd sum of £87 under " The District Eailways Purchasing Act, 1885," was paid off out of the Consolidated Fund. The total amount of debt paid off was therefore £722,587. The loans raised were : the North Island Main Trunk Eailway Loan, £1,000,000; the loan authorised in 1888, £1,000,000; debentures created for increases of the sinking fund in 1888-89, £263,200; for Government loans to local bodies, £75,000 ; and for State Forests, £1,000. These new loans amount to £2,339,200 ; and, if we deduct the amount paid off, £722,587, we get £1,616,613 as above shown. In my Financial Statement of the 29th May, 1888, I drew attention to £250,000 falling due on the Ist November, 1888, under " The Colonial Inscribed Stock Act, 1882," and £49,500 on the 15th December following under " The General Purposes Loan Act, 1873;" and I remarked that it would be necessary to obtain the authority of Parliament to renew these loans. Subsequently it was found that they could be dealt with under " The Consolidated Stock Act, 1884 :" accordingly short-dated debentures for £299,500 were issued under that Act, pending the creation of stock, and the securities under the old Acts were surrendered and cancelled. Incidentally to my reference to the debentures for £131,600 redeemed last year with cash received from the Crown Agents after the drawing of Consolidated Loan debentures in 1888, I may inform the Committee that, at the " drawing " of 1889, converted bonds to the amount of £133,400 were drawn, which sum has been received and applied by the Treasury since the 31st March last to the redemption of debentures of the same amount issued under " The Consolidated Stock Act, 1884," for increases of the sinking funds. THE PUBLIC WOBKS FUND. Honourable members are aware that, for reasons mentioned in my last Financial Statement, and which it is unnecessary further to refer to, the Public Works Fund now consists of three separate and independent accounts. % No. 1 Account. The balance at credit of this account on the 31st March, 1888, was £200,391, including £150,000 temporarily raised under the Loan Act of 1887, in anticipation of the £500,000 authorised by that Act. It will be recollected that an

The Public Debt.

Table No. 4. Net public debt, £ 6,979,661.

£1,616,613 added to debt last year.

£1,357,696 in hand. Debt paid off, £722,587.

Loans raised, £2,339,200.

£133,400 debt paid off after drawing of Consols, 1889.

Public Works Fund. Table No. 1.

No. 1 Account.

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error in the 19th section of the Act prevented us from floating the loan. That Act was therefore repealed last session by a new Act similar in all respects to the one repealed except that the section containing the error was omitted. The loan was floated last year, and the account credited with £50O ? 000. Credit was also- given for £3,000 under the District Eailways Purchasing Acts 1885-86, and for £19,426 recoveries in respect of expenditure of previous years. These credits, with the balance at the beginning of the year, amount to £722,817, subject to the repayment of the temporary advance of £150,000 received in 1887-88, leaving £572,817. The expenditure during the year amounted to £240,258 for public works, and £28,758 for charges and expenses of raisingloans, including discount, making together £269,016, and leaving an unexpended balance of £303,801 at credit of this account on the 31st March last. The principal items of expenditure were: Eoads, £104,631; public buildings, £34,592; lighthouses, harbour works, and defences, £52,593 ; and telegraph extension, £12,047 —the amount expended on other services being £36,394. Further information regarding this expenditure, as well as the expenditure charged upon Accounts Nos. 2 and 3, will be afforded when my honourable colleague the Minister for Public Works makes his Statement. In addition to the balance of £303,801 at credit on the 31st March last, there is an available asset under " The Government Loans to Local Bodies Act, 1886," which authorises the conversion into a liability, under that Act, of debentures given by local bodies to the Treasury for advances out of the Public Works Fund, under " The Eoads and Bridges Construction Act, 1882." The Act of 1886 gave power to the Treasurer to issue debentures for the amount of the liability created by conversion, and to pay the proceeds into the Public Works Fund. That liability amounted at the 31st March last to £87,974, which, with the balance of £303,801 at credit, made £391,775 available for expenditure, subject to liabilities amounting to £165,273. No. 2 Account. The North island Main Trunk Eailway Loan of £1,000,000, authorised in 1882, was raised last year in conjunction with the million loan authorised last session. In anticipation of the raising of the loan there had been expended up to the 31st March, 1888, £478,000, leaving a balance of £522,000 unexpended. Last year there was expended £86,184, including £51,788 for charges and expenses of raising the loan, including- discount, leaving an unexpended balance of £435,818, subject to outstanding liabilities amounting to £28,972. No. 3 Account. At the 31st March, 1888, the balance at credit of this account was £546,244, including £150,000 temporarily raised under the Loan Act of 1887, in circumstances similar to those referred to in my remarks on No. !• Account. The loan of 1888, which authorised £500,000 to be raised for this account, having been floated last year, the amount available for expenditure, including the balance at the beginning of the year, was therefore £896,244. The expenditure during the year was : For railways £241,801, and departmental expenses £12,000. The charges and expenses of raising the loan, including discount, amounted to £24,365, thus making the total charges £278,166, leaving an unexpended balance of £618,078, subject to liabilities outstanding amounting to £174,394. SuiWMARY. The balance of the Public Works Fund, as a whole, on the 31st March, 1888, including the loans authorised but nnraised, amounted to £1,968,635. During the year this amount was augmented by £3,000 under the District Eailways Purchasing Acts 1885-86, and £19,426 recoveries on account of expenditure of previous years, making a total of £1,991,061. The expenditure on public works amounted to £528,453 ; but, including charges and expenses of raising the loans, including discount, £104,912, the total charge amounted to £633,365. The balance left at credit on the 31st March, 1889, was therefore £1,357,696 ; to which I add the asset of £89,974, referred to in my remarks on No. 1 Account,

Expenditure, £269,016 ; unexpended balance, £303,801.

Asset under • Government Loans to Local Bodies Act, £87,974.

Liabilities, £165,273. Table No. 0. No. 2 Account.

Expenditure, £86,184; unexpended balance, £435,818; liabilities, £28,972. Table No. 6. No. 8 Account.

Expenditure, £278,166; unexpended balance, £018,078 ; liabilities, £174,394. Table No. 6.

Summary.

Expenditure, £633,365 ; unexpended balance, £1,445,670; liabilities, £368,639,

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making together £1,445,670, subject to £368,639 of liabilities. The unexpended balance consisted of —■ _ Cash in the Public Account .... .... .... £515,090 Cash on fixed deposit in London .... .... 230,000 _ Temporary Investments, — Debentures of the loan of 1870 guaranteed by Imperial Government .... .... 476,000 Debentures under Government Loans to Local Bodies Act .... .... .... .... 25,000 Westport Harbour Loan debentures .... 55,000 In the hands of officers of the Government .... 56,606 1,357,696 Available under section 81 of " The Government Loans to Local Bodies Act, 1886 " .... .... 87,974 Total .... .... .... £1,445,670 GOVEBNMENT LOANS TO LOCAL BODIES. In last j^ear's Financial Statement I stated that up to the 31st March, 1888, £125,000 had been borrowed for the purpose of making loans to local bodies, under the provisions of " The Government Loans to Local Bodies Act, 1886 ; " that there had been paid over to local bodies £108,841 ; and that the engagements of the Treasury on account of loans not then fully taken up, or not at all, but with regard to which all the necessary steps under the Act had been taken by the respective borrowers, amounted to £29,224. I also stated that, in response to a notice published in the Gazette in January, 1888, under section 16 of the Act, applications to the amount of £78,330 had come in, nearly all of which had been provisionally granted. I have now to inform the Committee that during the past year a further sum of £75,000 was borrowed by the Treasury to make these loans, bringing up the total amount so borrowed to £200,000 on the 31st March, 1889 ; and that further sums to the amount of £83,475 were handed over to local bodies, making a total of £192,316. During the year refunds to the Treasury amounting to £940 were made under section 15 of the Act, which provides for the repayment of moneys borrowed in excess of the sum required to complete any public work; the balance at credit of the account at the close of the year was therefore £8,624. The engagements of the Treasury at the same date in respect of these loans amounted to £25,920, irrespective of applications for £2,775 from local authorities who had not completed all the necessary formalities. Of the total sum of £192,316 paid over, £174,381, including interest to date of inscription, had been inscribed up to the Ist February last, under the 32nd section of the Act, the Treasury having in all cases elected to inscribe the debts of local authorities in preference to requiring them to give debentures. The payments made between the Ist February and the 31st March carry interest at 4 per cent, until the Ist February, 1890, in accordance with the provisions of section 2 of the Amendment Act of 1887, at which date the amounts, with interest added, will be inscribed in the Eegister. Under the authority of sections 27 to 31 of " The Government Loans to Local Bodies Act, 1886," which provides for the conversion of debentures issued by local bodies under " The Eoads and Bridges Construction Act, 1882," into a debt under the former Act, debentures to the amount of £110,550 have been converted ; and on the 31st of March last the amount of debt inscribed in the Eegister in respect of such debentures stood at £87,974, which, together with the moneys lent under the Act, £174,381, made a total of £262,355 on the Eegister at the end of last financial year. In March last applications for further loans were invited by notice in the Gazette, resulting in applications for £63,311 being provisionally granted in April. Local bodies were, however, informed that a Bill would probably be introduced in the coming session of Parliament with a view to increase the rate of interest

Government Loans to Local Bodies. (Vide Papers B-12 and B-12A.)

£75,000 borrowed last year; £83,475 paid to local bodies. Total amount borrowed to 31st March, £200,000; £192,310 paid over.

Debentures for £110,550, Eoads and Bridges Construction Act, converted and inscribed.

Total debt inscribed, £262,355.

Introduction of Bill to raise interest.

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payable on loans made during the current financial year; and that the loans provisionally granted would, if accepted, be subject to such additional rate of interest as Parliament might see fit to impose, not exceeding- 6 per cent. ESTIMATED EXPENDITUEE FOB THE YEAB 1889-90. Ordinary Bevenue Account. I now come to the consideration of the expenditure and revenue of the current year; and, according to custom, I first deal with the expenditure. .The estimated total ordinary expenditure is £4,117,331. Of this, £1,613,205 is for interest. Honourable members will bear in mind that, of the £1,888,405 which appears as interest and sinking fund under the permanent Acts, about £275,200, although charged against revenue, is recouped to the Consolidated Fund by the issue of debentures under the Consolidated Stock Act of 1884. It is very necessary to remember this fact, as the larger sum is often spoken of as the amount of annual interest we have to pay, and so our financial position is assumed to be worse than it really is. Full details of the expenditure will be found in the estimates, which will be in the hands of honourable members immediately. There are no items requiring special remark, but I may call honourable members' attention to the increase in the education vote which is necessitated by the usual annual increase in children of the school-age. The estimates also include £25,000 for school-buildings. I must, however, point out that, although we have increased the salaries of officers receiving less than £200 a year by a total of £4,522, and of officers of higher grades, to rectify inequalities, which I last session announced should be inquired into, by £1,605, and have also increased the expenses of the Native Land Court by £3,000 to enable the Court to cope with the large increase of work coming before it —I say that, notwithstanding these increases, the proposed expenditure under the thirteen classes annually voted is £39,733 less than the amount granted last year. I hope that this fact will reconcile the Committee to the moderate increases which we have thought it fair to propose. Provision is also made for the continuation of the subsidies to the local bodies at the same rate as was paid last year. Land Fund. The estimated expenditure chargeable against the Land Fund is £122,000. This is a small increase upon the expenditure of last year, which was £119,496. This increase, however, arises from the management of roads having been transferred to the Survey Department from Public Works. Total Estimated Expenditure. The total estimated expenditure is therefore £4,239,331, being £4,117,331 chargeable against the ordinary revenue, and £122,000 against the Land Fund. ESTIMATED BEVENUE FOB THE YEAB 1889-90. Assuming the present taxation to remain unaltered, I estimate that we shall obtain for the year 1889-90 a revenue of £4,187,800. This amount includes the estimated sum of £275,200, which is paid as sinking fund to the Trustees of the Sinking Funds, out of revenue and investments of accrued sinking funds, and then recouped to the Consolidated Fund by the sale of an equivalent amount of debentures issued under the Act of 1884. I have estimated the receipts from the Customs at £1,550,000. I have reason to expec£ they will reach that amount; but trade has not yet become entirely settled and steady, and there are even yet, I am informed, stocks in hand cleared before the increased duties came into force. It is therefore impossible to make a very accurate estimate, and I wish to guard myself by pointing out the difficulties under which my estimate is made. With reference to the railway estimates, honourable members will see that an increase to the revenue is anticipated to the extent of about £28,800 ; but, as the expenditure is estimated at about £18,800 more than last year, the net revenue receivable is only increased from £360,000 to £370,000. It is natural and right that the Commissioners should not take too sanguine a view of affairs, but I certainly hope the result of the year's working will prove to be larger than they anticipate. It will be seen that there is a satisfactory increase

Estimated Expenditure, 1889-90. Table No- 7. Ordinary Ee-.-Venue Account, £4,117,331.

i i Estimates inI cludo £25,000 for 1 school-buildings.

Proposed expenditure under annual votes, £39,733 less than granted last year.

Land Fund Account, £122,000.

Total ,£4,239,331.

Estimated Revenue, 1889-90. Table No. 8. Ordinary revenue, £4,187,800.

Customs, £1,550,000.

Eailways estimated to yield net £370,000.

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of £36,683 under the heading of Depasturing Licenses and Bents: this arises from an increase in the rate of pastoral rents, and from the larger area taken up on the perpetual-leasing system —a system which is becoming popular, and which, nas honourable members are aware, gives the lessee the right to purchase within thirty years. I "Will presently make a few remarks about the property-tax, which, it is estimated, will yield under the new valuation £16,000 less a year upon the present penny rate than under the valuation of 1886. I shall also say a few words upon the subject of the Tariff of 1888. The Land Fund is estimated to produce £136,100 for the year 1889-90, particulars of which will be found in the tables attached to this Statement. * ESTIMATED RESULTS OF THE YEAB 1889-90. From what I have just said, honourable members will see that I estimate to receive a total revenue of .£4,323,900, against a total expenditure of £4,239,831; but excluding the Land Fund from both sides of the account we get a revenue of £4,187,800, against an expenditure of £4,117,331, thus showing a balance of £70,469 at the end of the year 1889-90, if my anticipations are realised. But to this amount I add what is left of last year's surplus of £77,769 after paying off £50,000 of the deficit of the year before—namely, £27,769—and get a surplus of £98,238, of which about £55,000 will be applied to the further redemption of floating debt, leaving a sum of £43,238 at the end of the current year, which is certainly not too large a margin to work upon, especially if the proposal the Government will make for the continuance of the Otago Central Eailway shall be adopted ; but I trust with careful management that it will prove sufficient. PBOPEBTY-TAX. I will now fulfil my promise, and say a few words about the property-tax. I have said that under the new valuation it is estimated that at the rate of one penny in the pound the tax will yield about £16,000 a year less than under the old valuation. This arises from the falling-off in the reputed value of real property, more or less, throughout the colony. There has been a fair increase in the value of personal property, but, as honourable members know, there has been a considerable fall in the reputed value of real property, speaking generally. This fail, although in one sense to be regretted, is, I venture to think, on the whole nothing but advantageous to the colony at large, for we all know that the price of land ruling throughout most parts of the coloixy was for a time and to a considerable extent its speculative value rather than its value for use : its value to the speculator—often nothing more than a mere gambler in land—not to the class of men whose well-being means the prosperity of the colony, the bond fide occupiers of the soil. We may well put up with a temporary loss of revenue caused by a return to a more wholesome state of things. I promised last session to consider carefully this question of the property-tax during the recess, and to give the House an early opportunity this session to discuss the question. The result of the consideration of the matter by the Government is that I shall propose certain modifications, which will require legislation to give them effect. This will enable the House to debate fully the whole question at an early date, as I propose to introduce the necessary measure to give effect to the proposed alterations in the course of a few days, and to ask for its early consideration. I-may here state, without going into unnecessary particulars, that we propose, amongst other things, to exempt from the tax all machinery, which, however, will be strictly defined; and to allow any owner, or the Property-tax Commissioner, to have properties revalued under reasonable restrictions without awaiting the triennial period. These remissions, and the fall in the new valuation, will cause an estimated loss to the revenue of about £20,000, as compared with the amount received from property-tax last year; but the Government do not propose to ask for any new tax to meet this falling-off, hoping that there will prove to be sufficient elasticity in the general revenue to make it good. Ido not now propose to enter into any arguments in favour of the property-tax, or of the remissions proposed, as they will come more appropriately when the Bill to which I have referred is before the House for consideration.

Depasturing licenses, rents, &c, estimated increase of £36,683.

Under new valuation, propertytax at present rate will yield £16,000 less.

Eevenue from land sales, £136,100.

Estimated Results, 1889-90. Table No. 9.

Surplus of £43,238, after further reduction of floating debt by £55,000.

Property-tax.

Yield estimated at £16,000 less under new valuation.

Certain modifications in the tax will be proposed, and necessary measure will be introduced.

Remissions and ■ fall in valuation will result in ' estimated loss of £20,000.

8.—6

IX

THE TARIFF. I have had a series of tables prepared, for the information of honourable members, showing the results of the ten months of the year in which the tariff has been in force in imports and duties as compared with the imports and duties of the corresponding ten months of the year ending on the 31st March, 1888. The comparison is necessarily very imperfect, owing to articles being differently grouped, and to different rates of duty being charged on items that were before in the same group. I have examined the matter carefully, but, so far as I can'see,; it is unfortunately impossible at present to deduce any law, or even found cany satisfactory argument, as to the effects upon trade and industry produced by the tariff; the time has been far too short and the disturbing elements too large, especially the extensive speculative clearances made in May, 1888, in anticipation of the increased duties. One thing, however, I may point out, that the tariff has been successful in producing the revenue required of it. OTAGO CENTRAL RAILWAY. Last session I made a promise to the House that I would, with the Minister for Public Works, visit the country on the route of the Otago Central Eailway in order to judge for myself as to the desirability of continuing that work, and make a proposal in accordance with the conclusion I came to. In fulfilment of that promise the Minister for Eublic Works, the Minister of Defence, several members of tlie House, the Assistant Engineer-in-Chief, and myself visited the Central Otago district shortly before last Christmas. I was very much pleased with the country, and came to the conclusion without any doubt that the railway ought to be continued, if it could be done without infraction of the policy we are all agreed on —that is, without recourse to a new loan. We think it can be done, and a Bill to give effect to our proposal of at once continuing the line will be submitted for the consideration of Parliament. MIDLAND RAILWAY. I may here mention an important enterprise with which the South Island specially, and the colony as a whole, is deeply concerned—l mean the Midland Eailway. The company have now raised three quarters of a million as a further instalment of their capital. This, it is estimated, will enable them to make the stipulated expenditure at the Springfield and Nelson ends of the line, and to continue the line to Eeefton and towards Lake Brunner on the West Coast. It is matter for congratulation that this important work —colonial in its character —is now to be pushed forward with vigour. It is to the interest of both parties —of the colony not less than of the company —that it should be brought to a successful issue. To the colony, its success means not only the completion of the main trunk railway system from end to end of the Southern Island, including the connection of important centres now isolated, but also the permanent settlement of a large tract of country which, but for this railway, could only be settled very slowly and with difficulty. VILLAGE SETTLEMENTS. My colleague the Minister of Lands has visited the village settlements north of Auckland, in the Forty-mile Bush, and in the South, and I visited the one near Timaru. A most instructive return has been prepared, and will be laid upon the table of the House, giving much interesting detail of the settlers and settlements. The general conclusion to be drawn from our past experience is that village settlements supply a want, if formed of a small number of settlers in a neighbourhood where some work can be conveniently obtained, where the land is of good quality, and, most important of all, where the settlers are of the right sort. This general principle, we think, is clear, but its application in particular cases which we have had in view needs further consideration. I may state, however, that in newly-settled districts we have kept it in mind and have made suitable reserves. DISTRICT NORTH OF AUCKLAND. The country north of Auckland was visited during the recess by three of my colleagues, who had not been previously in that part of the colony. I much regret that time did not permit me also to visit it, as I had hoped to do. The : opinion they formed of the district generally was very favourable. The Minister ii—B. 6.

The Tariff. ) Tables Nos. 10 p to 13. Tables appended I showing results of new tariff.

I . Successful in producing 1 revenue required of it. Otago Central Railway.

Should be continued, if without recourse to new loan : think it can be done. Bill will be submitted. Midland RaUioay.

Matter for congratulation work now to be pushed forward.

Village Settlements.

Experience shows that in certain circumstances they supply a want.

District north of Auckland.

Proposals as to main trunk line north of Auckland, &c, will

8.—6

X

for Public Works, in his Public Works Statement, will state what we propose with regard to the main trunk line north of Auckland. He will also make a proposal with regard to utilising the Puhipuhi kauri forest. STATE AND PROSPECTS OF THE COLONY. - I "will now, Mr. Hamlin, with the permission of the Committee, call the attention of honourable members to some prominent and important facts relating to the condition and prospects of the colony. But before doing this I will say a few words on an apparently adverse fact—the only one of any significance I have met with —which has naturally excited a good deal of discussion. The colony has lost by emigration during the last two years 9,580 people—that is to say, 9,580 more people left than arrived in New Zealand. Of these, 4,476 were males above twelve years of age. This represents a diminished rate of increase, but not a decrease, of the population, as the natural increase of births in excess of deaths for the past two year's has been 26,192 —the births having been 38,037 and the deaths 11,845. The fact, however, that 9,580 people have left the colony must excite regret, and for it many remedies have been suggested. I have given the matter anxious consideration, for the Government recognised it as a duty to find a remedy if one was to be found; but I came to the conclusion that, in the circumstances of this colony and the neighbouring colonies, no remedy was possible that we could consent to apply; for the only effective remedy, in «my opinion, was the continuance of a large public-works expenditure. It is evident, I think, that during the many years that we have been continuously spending very large sums of money on public works—not the General Government only, but the local bodies also —a numerous class has sprung up who have been relying on the public expenditure as a means of livelihood, and many of whom do not care to live the life of an ordinary settler. In support of this view I would point to the fact that, as our expenditure on public works decreased, so the tide of intercolonial migration turned against us. Taking merely the expenditure within the colony itself, our expenditure out of loan for work done in the colony during the year 1886-87 was, in round numbers, £1,140,000, and for the year 1888-89 £423,000 ;so that we have been spending during this last year at the rate of £717,000 per annum less than we were spending two years ago. This, I take it, would in itself far more than account for the wages of the 4,476 males who have left us ; but, in addition to this, there has been a considerably decreased expenditure on public works by the local bodies. Of the total number who had been employed on public works some were no doubt absorbed by other industries, but the less versatile or more restless drifted away. There is no doubt that the recent exceptional discoveries of gold and silver in neighbouring colonies, and the extraordinary prosperity which the Colony of Victoria has enjoyed during the last two years —the same period during which we have been making the large reduction in our public-works expenditure—have also tended in a marked degree to induce many persons (who do not or perhaps cannot afford to look very far ahead) to try their fortunes on the other side. I have therefore come to the conclusion that a loss of a small percentage of our population was inevitable when we began seriously to contract our large publicworks expenditure, and that, looking at the circumstances of the case, we have passed through the ordeal remarkably well. To the reduction of public-works expenditure is also largely traceable a reduction which has recently taken place in our railway traffic ; and it is satisfactory to find that this is so, rather than that it should be due to a falling-off of the legitimate internal trade of the country. Now let us take the last half of the same period, the last of the same two years of which I have just been speaking, and see what our permanent industrial population has been doing so far as this is shown by our exports. Honourable members will find attached to this Statement a table showing in detail the exports for the last two years. From this it will be seen that in every article of importance, with one exception, there has been an increase during the last year, and in many of them a large increase. This table will well repay a careful study. It will be seen that the export of grain has increased from 3,630,843 bushels to 5,584,488 bushels ; grass seed, from 164,550 bushels to 274,772 bushels ; frozen meat, from 49,363,8881b. to 63,003,4721b.,—and it needs

"be stated in Public Work's Statement.

State and Prospects of the Colony.

Colony has lost by emigration last two years 9,580 people, of whom 4,476 males above fourteen years of age.

Great reduction in public-works expenditure more than accounts for wages of 4,476 males.

Also exceptional discoveries of gold and silver in neighbouring colonies, and prosperity of Victoria.

Table of exports for last two years appended. Table No- 14.

Increase in every important item, with one exception, and in many a large increase.

8.—6

XI

no prophet to say that this important industry will only reach its limit in quantity and in price when some efficient organization for its sale and distribution shal have been established in the United Kingdom. Butter has increased from 2,472,6241rj. to 3,631,3761b.; cheese, from 3,381,6161b. to 3,731,8401b.; and sawn timber, from 33,791,992ft. to 44,219,840ft. The flax industry may be said practically to have sprung into existence during last year, the export having increased during that period from 1,812 tons to 5,603 tons, and it is still rapidly increasing every month. But besides the increased quantity of our exports there has been also in the main items a marked increase in value. The value of the excess of exports, exclusive of wool, last year over those of the year before may be taken at not less than £992,000. The one exception to which I just referred is an important one—that is, wool—and it seems probable that there is a falling-off in the quantity exported, but to what extent it is difficult yet to say, as experience tells us that September is the only quarter in which an accurate estimate can be made. It is also satisfactory to know that the quantity of wool locally consumed in our mills has increased from 2,001,1551b. in 1887-88 to 4,079,5631b. in 1888-89, and this increase must be set off against any decrease of exports. The total exports for the year 1887-88 were of the value of £6,415,845, while those for the year 1888-89 were £7,345,185. I will not trouble honourable members with details of the products of our local industries for home consumption: they would, of course, be necessarily imperfect: but it will be seen from the figures I have just briefly given about our woollen manufactures to what a magnitude some of these industries have already grown ; while as to the quality of their products we have ample proof that they are steadily and deservedly gaining in public favour, and that a large number of the articles produced would do credit to any country in the world. The mining industry is, I am happy to say, in a more hopeful condition than it has been for some years. The yield of gold for the year ending on the 31st March last was 208,9020z., as against 191,9610z. for the previous year, being an increase of 16,9480z. Special machinery and appliances care being constructed, some of which are in operation, for working the auriferous beaches of the Middle Island, and, from trials already made, are believed to be likely to prove successful. By improved systems of hydraulic sluicing, also low-lying ground formerly unproductive, and drifts considered valueless, are now worked at a profit, and it is hoped that the improvements which are being made in machinery and appliances for the reduction and treatment of ores will solve the question of treating successfully the refractory ores of the North Island, and be the means of lodes being worked which hitherto have been considered non-payable. Our coal-mines are being gradually developed. The output last year was 613,895 tons, as against 558,620 tons for the previous year. Further extensive works in connection with this industry are contemplated, some of which are in progress; and, when completed, a large increase in the output of coal may be expected. Recent discoveries in Stewart Island show that tin-ore is distributed over a large extent of country, both in alluvium and in lodes, and it is inferred that rich deposits will be discovered there. Very little work, however, has been done as yet. That portion of the thrift of the colony which is represented by the assets: of friendly societies is steadily increasing- year by year. According to the last compiled tables there were, at the end of 1887, 24,928 members of registered friendly societies, and the value of their accumulated funds was £383,515. Without allowing for any increase of membership during 1888, it is fair to assume that the natural increase of the funds would be at the average rate of £1 per member. The value, therefore, of the funds may be stated approximately as £410,000 (inclusive of £15,600 in the Post Office Savings-Bank) at the end of 1888, and the increase for that year £25,000. In addition to these funds the assets of other societies registered under the Friendly Societies Act and of societies registered under the Trade Unions Act are, approximately, £10,000 and £3,000 respectively. In the savings-banks of the colony on the 31st December, 1886, the amount: held in deposit was £2,133,780; in 1887 it was £2,407,775, and in 1888 £2,691,692.

T ) Exports last year excluded) ' exceed previous G year by £992,000. V.

i *Falling-oS in quantity of wool ' exported; but i quantity used in , mills increased from 2,001,1551b. to 4,079,5631b.

Total value of exportslBB7-88, £6,415,845; 1888-89, £7,345,185.

L Mining industry . in more hopeful ' condition.

Output of ooal increased.

Discoveries of tin-ore in Stewart Island.

Friendly societies.

Savings-banks. Table No. 15.

8.—6

XII

In 1886 the depositors numbered 91,296; in 1887 the number was 97,496, and in 1888 it was 103,046. The average amount at credit of each depositor was in 1886 £23 3s, in 1887 £24 65., and in 1888 £26 Is.. Between 1886 and 1888 the amount of deposits increased by nearly £558,000, and the number of depositors by ll r 750. Of a total number of 84,488 depositors in the Post Office SavingsBank, 62,831 persons, or nearly three-fourths of the whole, had sums not exceeding £20 at their credit. I append to this statement a very interesting- table I have had prepared, showing a remarkably steady increase since 1886 both in the number of depositors and in the amount deposited, and I would particularly draw the attention of the Committee to this instructive fact: that the number of persons having deposits in the Post Office Savings-Bank not exceeding £20 increased from 57,368 in 1886 to 60,043 in 1887, and to 62,831 in 1888; and'this is irrespective of similar small deposits with the savings-banks established under " The Savings Bank Act, 1858," with regard to which I have not the data before me. The progress of the Government Insurance Department, and the position of its policies and business, may be viewed as affording further indication of the condition of that class of colonists (and it is a large one) who exercise prudent care and. forethought for themselves and their families. During the past year the new assurances amounted to nearly £800,000, showing an increase on the average of recent years, and approaching in amount the whole of the new business effected by the foreign life offices having branches in New Zealand. The average amount of the individual assurances was larger than in previous years, being close on £270, which is an increase of fully £50 per policy as compared with the average of the three years immediately preceding. The average amount of the policies discontinued is smaller than that of any year since the initiation of the office, while the policies surrendered have been smaller in their total amount than in the preceding year. The accumulated fund has been augmented by £123,000 during the year. This fund at the present moment exceeds a million and a half sterling, having doubled in amount during the last six years. It is instructive to compare the total ordinary life assurance of New Zealand with that of other countries. The population of New Zealand possess £24 of life assurance per head, whilst in Australia this average is £19 per head; in the United States it is £8, in Canada £9, and in the United Kingdom £12 per head. The number of policies possessed by every thousand of population in New Zealand is 80 ; in Australia, 65 ; in the United States, 15 ; in Canada, 24; and in the United - Kingdom, 26. The average amount of policy in the United Kingdom is £487 ; in Canada, £376 ; in Australia, £300; in the United States, £554; and in New Zealand, £295. It is gratifying to note that, while the average sum assured by each policy is less in New Zealand than elsewhere, the total number of policy-holders in this colony bears a larger proportion to its total population than is the case in any other English-speaking community; and that, though the individual policies average a less sum than elsewhere, the number is so much greater that the total sum assured divided amongst the whole population gives a larger sum per head here than anywhere else. This, coupled with the facts I have given concerning the savings-banks and friendly societies, means two important things: that, in the means of saving, and in the will to save, the people of New Zealand are at least not behind their kin in other parts of the world. The last fact I will mention is an important one- —the greatly-improved credit of the colony in London. I will give only a single instance. Eighteen months ago our 4-per-cent. stock was selling rather heavily at 96J; it is now worth from £105 to £106, with an active market. I venture to think we shall see a further rise when our true present position comes to be fully known, and a fair and unprejudiced comparison is made between New Zealand and the other Australasian Colonies. In concluding, Mr. Hamlin, I would say that in giving prominence to these encouraging facts I desire again to impress on honourable members what I said in the beginning of my Statement —that our public expenditure will still require the most watchful care. My object has been, whilst drawing attention to many satisfactory evidences of increasing production and improved values, to lead to the conclusion that it is by such means, aided by public and private

Increase of deposits in savings-banks, and number of depositors.

Progress of Government Insurance Department.

Greatly-im-proved credit of the colony in London.

Nevertheless public expenditure will still require watchful care.

8.—6

XIII

economy, rather than by large public expenditure, that the permanent prosperity of the colony will be secured. That, Sir, is all I have to say. I have, I believe, laid before the Committee Conclusion, all the information needed to enable honourable members clearly to understand the financial position of the colony, and to judge of its substantial and most satisfactory progress, especially in the occupation of the land, and the steady, I might say the rapid, development of its industrial enterprise. In 1887, in disclosing to the Committee the difficulties which then lay before it and the Government, I ventured to say that, with the necessary effort and sacrifice, those difficulties were well within our power to overcome. Parliament and the people took entirely the same view, and the facts and figures which I have just laid before you show, I trust beyond question, that they were right: right, I say, not only in the belief that we could overcome our financial difficulties, but in the deeper underlying belief on which the other rested—the assured belief in the vitality and resources of the colony.

iii—B. 6.

£.—6

* TABLES TO ACCOMPANY THE FOREGOING STATEMENT.

PAGE Table No. I.—Abstract op Beceipts and Expenditure op the Financial Year ended 31st Mabch, 1889 2 Table No. 2.—Comparative Statement op the Estimated and Actual Eeceipts and Expenditure op the Consolidated Fund por the Financial Year ended 31st March, 1889 .. 17 Table No. 3. —Statement op the Estimated Liabilities op the Consolidated Fund outstanding on 31st March, 1882, 1883, 1884, 1885, 1880, 1887, 1888, and 1889 .. .. .. 18 Table No. 4.—The Public Debt on 31st March, 1889 .. .. .. .. .. .. 19 Table No. 5. —Statement showing the Total Ways and Means op the Public Works Fund and the Total Net Expenditure to 31st March, 1889 .. ~ .. .. .. 21 Table Np. 6. —Statement op the Estimated Liabilities op the Public Works Fund outstanding on 31st March, 1882, 1883, 1884, 1885, 1886, 1887, 1888, and 1889 .. .. .. 22 Table No. 7. —Estimated Expenditure op the Consolidated Fund por 1889-90 compared with the Actual Expenditure op 1888-89 .. .. .. .. .. .. .. 23 Table No. 8. —Statement op the Estimated Eevenue op the Consolidated Fund por 1889-90 compared with the Actual Bevenue op 1888-89 .. .. .. .. .. .. 23 Table No. 9.—Estimated Eevenue and Expenditure op the Consolidated Fund por the Financial Year ending 31st March, 1890 .. .. .. .. .. .. 24 Table No. 10.—Articles upon which Increased Bates op Duty were levied under the Tariff of 1888 .. .. .. .. .. .. .. .. .. .. 25 Table No. 11.—Articles upon which no Increased Bates were levied under the Tariff op 1888 .. 27 Table No, 12.—Articles upon which Decreased Bates were levied under the Tariff of 1888 .. 27 Table No. 13.—Articles grouped in Classes for Purposes op Comparison under the Tariff op 1888 28 Table No. 14. —Quantities op Principal Articles (the Produce and Manufacture op the Colony) exported during the financial years 1887-88 and 1888-89 . . . . . . 30 Table No. 15. —Classified Balances at Credit op Depositors on 31st December, 1888, in the Post Office Savings Bank .. .. .. .. .. .. .. .. 30

8.—6.

Table STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND ORDINARY REVENUE

LAND FUND

2

RECEIPTS. 1888-89. 1887-88. Balances to begin the Year with, — Cash Advances in the hands of Officers of the Government, — In the Colony In London £ s. d. 758,292 16 6 9,137 19 5 15,314 5 6 £ s. d. 158,176 6 9 8,502 13 7 20,126 17 4 782,745 1 5 186,805 11 8 Ordinary Revenue, — Customs, including Primage Duty £46,132 5s. 8d. Stamps, including Postal and Telegraph "Cash Receipts Property-tax Beer Duty Railways Registration and other Pecs Marine Miscellaneous 1,459,608 0 8 600,370 16 6 373,830 19 4 51,050 17 6 1,001,134 5 10 39,226 2 8 17,557 11 9 64,338 7 0 1,251,651 8 0 587,318 12 0 376,576 12 10 52,000 12 2 981,826 4 0 35,596 5 1 16,899 2 1 35,860 10 1 Territorial Revenue, — Depasturing Licenses, Rents, and Miscellaneous 3,607,117 1 3 184,716 16 3 3,337,72'J 6 3 183,761 0 10 Other Receipts,— Debentures issued under " The Consolidated Stock Act, 1884 " — For increases of Sinking' Fund Debentures issued under " The Public Revenues Act, 1887 (No. 3)," to provide for estimated deficit on 31st March, 1888 Sinking Funds set free, — " Consolidated Loan Act, 1807 " Deficiency Bills outstanding I 3,791,833 17 6 3,521,490 7 1 263,200 0 0 258,184 0 0 400,000 0 0 131,600 0 0 512,900 0 0 778,000 0 0 907,700 0 0 1,436,184 0 0 Totals £5,482,278 18 11 £5,144,480 4 'J

Land Sales, — For Cash On Deferred Payments Recovery on account of expenditure of previous years 58,007 18 2 49,998 14 11 32,516 1 6 46,039 0 11 832 5 5 Part proceeds of Deficiency Bills transferred from the Ordinary Revenue Account to cover deficit at 31st March, 1888 108,000 13 1 79,387 7 10 133,350 2 1 3alan.ce at end of Year, — Cash overdrawn .. .. .. .. .. .. Less Advances in the hands (?>J Officers of the Government 11,010 6 9 2,526 10 6 135,115 9 1 1,765 7 0 11,489 16 3 133,350 2 1 j Totals £252,846 11 5 £212,737 9 11

8.—6,

No. 1. for the Year ended 31st March, 1889, compared with the Financial Year ended 31st March, 1888. ACCOUNT.

ACCOUNT.

* Includes £23,811 153. 10.1. for School Buildings hitherto charged on Loan. f Includes £40,092 6s, for Stock Branch hitherto charged to Class 11., Colonial Secretary.

3

EXPENDITURE. 1888--89. 1887-88. Perman ent Appropriations, — Civil List Interest and Sinking Fund Under Special Acts of the Legislature .. ' ' Subsidies paid to Local Bodies Amounts paid over to Local Bodies and to Deposit Accounts in respect of Rents under the Land Acts Endowments, — New Plymouth Harbour Board Greymouth Harbour Board Westport Harbour Board £ s. d. 24,265 0 8 1,833,494 0 0 162,654 13 0 28,630 4 6 - £ s. d. '27,833,'! 4 4 1,765,067 11 10 191,913 10 4 46,071 12 10 7,875 5 1 3,103* 0 10 376 11 4 14,590 7 0 13,370 19 11 254 11 5 11,585 4 7 8,864 0 1 2,085,257 1 7 2,055,893 0 3 Annual Appropriations, — Class I.—Tjegislative ,, II. —Colonial Secretary .. .. .. ,, III.—Colonial Treasurer ,, IV.—Minister of Justice ,, V.—Postmaster-General .. ,, VI.—Commissioner of Trade and Customs ,, VII.— Commissioner of Stamps .. ,, VIII. —Minister of Education ,, IX.—Minister of Native Affairs ,, X. —Minister of Lands and Mines ,, XI.—Working Railways XII.—Minister for Public Works „ XIII.—Minister of Defence Services not provided for .. 14,899 11 0 100,598 17 2 41,573 11 2 107,777 9 1 260,230 15 7 62,454 6 0 22,507 9 0 377,858 8 1* 15,970 14 0 56,179 7 3f 641,118 3 2 29,340 12 9 157,855 1 8 3,496 18 2 10,269 18 5 151,838 8 10 35,131 4 6 114,608 0 8 208.282 14 3 69,217 8 8 24,996 0 11 368,798 0 5 16,801 16 10 20,630 4 4 099,750 8 5 23,248 14 6 209,998 11 8 7,170 4 8 1,891,921 4 7 2,026,741 17 1 Debentures redeemed, — Consolidated Stock Act, 1884 (Colonial issue) District Railways Purchasing Act, 1885 Deficiency Bills redeemed 131,600 0 0 87 7 11 778,000 0 0 279,100 0 0 909,687 7 11 279,100 0 0 Part proceeds of Deficiency Bills transferred to Land Fund Account to cover deficit therein at 31st March, 1888 133,350 2 1 Balance at end of Year, — Cash in the Public Account Advances in the hands of Officers of the Government, — In the Colony In London On account of Imperial Pensions 411,833 8 5 13,045 11 9 27,710 16 0 9,473 6 7 758,292 16 6 9,073 5 3 15,314 5 6 04 14 2 462,063 2 9 782,745 1 5 Totals £5,482,278 18 11 £5,144,480 4 9

Balance to begin the Year with, — Cash overdrawn .. .. .. .. .. .. .. 135,115 9 1 56,239 14 10 Less Advances in the hands of Officers of the Government .. .. 1,765 7 0 1,976 11 9 133,350 2 1 54,263 3 1 Permanent Appropriations, — One-third of Proceeds of Land sold on Deferred Payments paid over to Local Bodies and to Deposit Accounts ., .. .. .. 23,336 9 2 11,586 13 2 New Plymouth'Harbour Board Endowment .. .. ' 2,953 4 11 4,914 10 7 Annual Appropriations, — Class XIV.—Minister of Lan*s .. .. ... .. .. 77,703 13 7 101,247 0 9 „ XV.—Rates on Crown Lands .. .. .. .. .. 15,496 16 8 40,723 10 4 Services not provided for .. .. .. .. .. .. .. 6 5 0. 260 54,263 3 1 119,496 9 4 158,474 6 10 158,474 6 10 Totals .. .. .. .. .. .. £252,846 11 5 £212,737 9 11 9 11

8.-6,

Table STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND STATE FORESTS

ACCOUNTS OF

4

RECEIPTS. 1888-89. 1887-88. Debentures created under " The New Zealand State Forests Act, 1885 " Rents from Lands set apart Miscellaneous £ s. a. 1,000 0 0 93 17 6 2,344 15 6 £ s. d. 5,500 0' 0 3,772 12 11 Balance at end of Year, — Cash overdrawn Less advances in the hands of Officers of the Government, — In the Colony 3,438 13 0 9,272 12.11 117 4 2 42 15 3 74 8 11 Totals £3,438 13 0 £9,347 1 10

ialance to begin the Year with, — Cash in the Public Account Advances in the hands of Officers of the Government, — In the Colony 5,516 4 11 5,516 4 11 tevenuo received for Local Bodies, — Fees, Fines, &c. Endowments of Land, &e. Goldfields Revenue Gold Duty .. 2,037 3 9 9,986 14 1 20,202 1 6 20,869 6 9 2,152 3 4 7,629 7 6 15,151 1 4 20,038 13 11 Jounties Separate Accounts, — Revenue of Counties in which " The Counties Act, 1886," is not in full operation 1,541 14 7 325 0 f> udvance Account, — Amount repaid by Local Bodies .. .. .. £167,597 9 5 Ditto on account of unauthorised expenditure of previous years .. .. .. .. .. .. 18,638 8 1 186,235 17 6 1,224 2 11 Ialance at end of Year, — Cash overdrawn Less advances in the hands of Officers of the Government, — In the Colony 240,872 18 2 5,717 1 4 46,520 9 6 17,044 17 7 109 4 2 476 19 11 Totals 5,607 17 2 16,567 17 8 £240,480 15 4 £08,604 12 1

5

B.—G

No. 1—continued. for the Year ended 31st March, 1889, compared with the Financial Year ended 31st March, 1888. ACCOUNT.

LOCAL BODIES.

EXPENDITURE. 1888-89. 1887-88. Balance to begin the Year with, — Cash overdrawn • .. Less advances in the hands of officers of the Government, — In the colony s s. a. 117 4 2 ' £ >. d. 1,478 11 2 42 15 8 Annual Appropriations,— Class XVI. —Minister of Lands 74 8 11 1,478 1.1 2 2,783 15 4 7,671 13 0 Permanent Appropriations,— Interest on Debentures 391 0 7 196 17 8 Balance at end of Year, — Cash in the Public Account Advances in the hands of Officers of the Government, — In the Colony 3,174 15 11 7,808 10 8 55 14 13 133 13 3 189 8 2 Totals .. * .. .-£3,438 13 0 .€9,347 1 10

Balance to begin the Year with, — Cash overdrawn Less advances in the hands of officers of the Government, — In the Colony 17,044 17 7 470 19 11 1« r.RT 17 Q 16,567 17 8 16,567 17 8 Revenue paid over to Local Bodies, — Fees, Fines, &c. .. .. .. .. .. .. .. ! Endowments of Land, &c. Goldfields Bevenue Gold Duty 2,074 5 11 : 9,309 14 8 20,218 9 3 21,092 10 1 2,130 3 6 7,234 8 4 13,958 10 0 20,306 2 9 Counties Separate Accounts, — Amount distributed amongst Road Boards whers " The Counties Act, 1880," is not in full operation .. .. .. .. .. 52,694 19 11 1,241 11 1 43,629 5 1 386 18 11 Advance Account, — Payments on behalf of Local Bodies .. .. .. .£'170,503 5 2 Unauthorised .. .. .. .. .. 5,473 1 6 175,976 6 8 229,912 17 8 24,638 8 1 229,912 17 8 Totals .. .. .. .. .. .. £246,480 15 4 £68,604 12 1 £246,480 15 4 £68,604 12 1

13.—6,

Table STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND DEPOSIT

Treasury, Wellington, 9th April, 1889. Examined and found correct as regards the Eailway receipts. J. P. MAXWELL, W. M. HANNAY, New Zealand Eailway Commissioners. Examined and found to agree with the Collectors' Cash-books. H. S. McKELLAB, Secretary and Inspector of Customs.

6

RECEIPTS. 1888-89-1887-88. Balance to begin the Year with, — Cash in the Public Account Advances in the hands of Officers of the Government, — In the Colony In London £ s. d. 59,121 2 1 £ s. d. 62,657 13 8 463 7 0 1,558 12 8 3 2 3 14,022 15 5 A 76,683 11 4 61,143 1 9 Lodgments,— Auckland Museum Endowment Emigrants' Deposits General Assembly Library Fund Hospitals and Charitable Institutions Act, 1R85 Indian and Colonial Exhibition Account Miscellaneous Moeraki Harbour Fund Investment Account Money Order settlement Native Land Act, 1878 (No. 2) Native Land Purchases Nelson Rifle Prize Fund New Zealand University Endowment, Canterbury New Zealand University Endowment, Taranaki New Zealand University Endowment, Westland - North Island Main Trunk Railway Loan Application Act, 1886 .. Permanent-Way Material for Open Lines of Railway Post Office suspense Thermal-springs Districts Act, 1881 Trustees Act, 1883 Westland Loan Act 1873 Redemption .. 1,550 0 0 255 i 8 8.1,289 1 3 21,247 18 1 227 10 0 751 14 6 65 2 9 373 10 0 0,792 13 6 120 0 0 300 3 6 67 0 8 40,140 14 2 525 0 0 102 10 0 1,449 3 2 66 0 0 75 0 0 23 18 6 15 5 0 1,338 11 7 38,854 16 7 19,133 5 10 31 1 5 833 6 4 6 19 2 15 5 0 1,165 19 8 175 11 2 143 8 0 75 4 0 Totals 105,023 12 8 57,707 2 10 £226,766 14 5 £134,390 14 2

7

8.—6

No. 1—continued. for the Year ended 31st March, 1889, compared with the Financial Year ended 31st March, 1888. ACCOUNTS.

JAMES C. QAVIN, Secretary to the Treasury. JAMES B. HEYWOOD, Assistant Secretary and Accountant. Examined and found correct, except as regards the " Customs" and " Bailway " receipts, which arc not now audited by the Audit Office. JAMES EDWABD FITZGEBALD, Controller and Auditor-General.

EXPENDITURE. 1888-8.9. 1887-88. Withdrawals, — Auckland Museum Endowment Canterbury Surplus Land Fund Emigrants' Deposits General Assembly Library Fund Hospitals and Charitable Institutions Act, 1885 Miscellaneous Moeraki Harbour Board Fund Money Order settlement Native Land Act, 1878 (No. 2) Native Land Purchases Nelson Rifle Prize Fund New Zealand University Endowment, Taranaki North Island Main Trunk Railway Loan Application Act, 1886 .. Permanent-way material for open lines of Bailway Receiver-General's Account Thermal-springs Districts Act, 1881 Trustees Act, 1883 Waimakariri Bridge Westland Loan Act 1873 Redemption Working Railways Account .. £ s. d. 463 7 3 1,800 0 0 205 16 0 94,577 1 1 4,500 0 0 185 0 0 707 3 0 66 0 0 23 18 6 £ s. a, 336' 18 6 0,542 13 0 120 0 0 344. 7 11 5.1,820 15 3 1,500 0 0 202 10 0 1,898 5 3 06 0 0 20,979 17 5 1,000 0 0 130 5 11 312 16 2 10,000 0 0 7 0 4 49 18 0 077 0 0 46 15 8 35 7 6 5 0 0 125,482 11 4 73,247 12 5 Balance at end of Year, — Cash in the Public Account Advances in the hands of Officers of the Government, — In the Colony In London 85,350 18 11 59,121 2 1 83 4 2 15,900 0 0 463 7 0 1,558 12 8 Totals 101,284 3 1 61,143 1 9 £220,706 14 5 £134,390 14 2

8.-6

8

Table STATEMENT of the RECEIPTS and EXPENDITURE of the PUBLIC WORKS FUND

RECEIPTS. 1888-89. 1887-88. Balance to begin the Year with, — Cash in the Public Account Advances in the hands of Officers of the Government, — In the Colony In London Temporary advances to Part II. Investments £ s. d. 177,208 13 8 £ - s. .a. 1,570 8 0 16,607 7 4 ■1,727 1 9 44,298 3 4 331,383 15 10 587,643 12 3 5,000 0 0 Less cash drawn against Investments 968,052 13 2 470,807 0 8 "Now Zealand Loan Act, 1838," — Moiety of One Million Loan in 4-per-cent Inscribed Stock " District Railways Purchasing Act, 1885," — Balance o£ Debentures issued for purchase of Waimea Plains Railway Recoveries in respect of expenditure charged to " Services not provided for " in previous years 200,391 4 0 491,245 12 6 500,000 0 0 3,000 0 0 19,426 11 6 Temporary advance from Part III. . . 150,000 0 0 522,426 11 6 150,000 0 0 722,817 15 6 ! £641,245 12 6 Totals Part II. Balance to begin the Year with, Gash in the Public Account Advances in the hands of Officers of the Government, — In the Colony In London 9,716 10 9 2,043 5 8 10,240 0 0 5,698 13 0 " North Island Main Trunk Railway Loan Act, 1882," — Proceeds of Loan in 4-per-eent. Inscribed Stock Temporary advances on short-dated Debentures 21,999 16 5 5,698 13 0 1,000,000 0 0 000,000 0 0 Totals 1,021,999 16 5 £505,698 13 0

9

B.—G

No 1—continued. for the Year ended 31st March, 1889, compared with the Financial Year ended 31st March, 1888.

2—B. 6.

Part I. EXPENDITURE-1888-89. 1887-88. ' Annual Appropriations,— Class I.—Immigration II. —Public Works, Departmental „ 1 II. — Railways IV.—Roads .. „ V. —Waterworks on Goldfields „ VI. —Purchase of Native Lands, North Island .. „ VII. —Telegraph Extension „ VIII.—Public Buildings „ IX.—Lighthouses, Harbour Works, and Defences X.—Rates on Native Lands .. „ XI. —Thermal Springs „ XII. —Charges and Expenses of raising Loan ,-s s. a. 8,791 4 4 6,458 0 8 4,761 14 11 104,031 15 3 54 10 6 , 5,088 11 8 i 12,047 4 5 i 34.592 0 7 : 52.593 5 4 10,304 0 0 935 8 0 28,758 6 0 & s. a. 15,597 14-10 6,000 5 2 1,408 5 4 198,347 15 8 1,015 11 5 1,514 f) 0 22,984 0 1 90,328 15 0 70,825 5 6 8,190 8 1 2,999 3 C 269,010 7 8 425,223 19 6 Services not provided for .15,630 9 0 Advances from Part III. in 1887-S8, repaid Balanoe at end of Year, — Cash in the Public Account Advances in the hands of Officers of tiro Government, — In the Colony In London Investments 160,000 0 0 140,407 18 0 177,208 13 8 8.100 15 2 30,232 14 8 125,000 0 0 1,575 8 0 16,607 7 4 5,000 0 0 200,391 4 0 Totals 303,801 7 10 £■722,817 15 G -C0H,215 12 0 | — - - Part II. Temporary advances repaid 500,000 0 0 331,383 15 10 Annual Appropriations,— Class I. —Public Works, Departmental II. —Railways „ III.—Roads .. „ IV.—Purchase of Native Lands . . V. —Charges and Expenses of raising Loan 3.000 0 0 25,513 10 1 1,897 13 1 3,983 4 8 51,788 1 2 5,000 0 0 102,770 5 1 20,410 1 0 24,128 14 8 80,182 15 0 152,315 6 9 Balance at end of Year, — Cash in the Public Account Advances in the hands of Officers of the Government, — In the Colony .. .. »• -.- * In London Investments 258,633 16 G 1,188 4 11 9.710 10 9 2,043 5 8 10,240 0 0 170,000 0 0 435,817 1 5 21,999 16 5 Totals £1,021,999 16 5 £505,098 13 0

13.—6.

Table STATEMENT of the RECEIPTS and EXPENDITURE of the PUBLIC WORKS FUND

CONVERSION

10

'ar <w RECEIPTS. 1888-89. 1887-88. I I Balance to begin the Year with, — Cash in the Public Account Advances in the hands of Officers of the Government, — In the Colony In London Investments £ s, d. 221,790 4' 6 £ ■ b.. a. 463,546 17"''5 4,282 15 5 20,171 0 11 300,000 0 0 4,541 8 7 22,587 7 2 130,058 10,11 546,244 0 10 020,734 4 1 " New Zealand Loan Act, 188G,"— Proceeds of Loan in 4-per-cent. Inscribed Stock " New Zealand Loan Act, 1888,"— Moiety of the One Million Loan in 4-per-cent. Inscribed Stock Temporary advances Temporary advance made in 1887-88 to Part T. repaid 500,000 0 0 391,300 0 0 BOO,000 0 0 150,000 0 0 050,000 0 0 I 691,300 0 0 * Totals £1,190,244 0 10 £1,312,034 4 1

Balance to begin the Year with, — Cash in the Public Account Advances in the hands of— Stock Agents Crown Agents 89,874 15 6 15,239 18 11 86,300 0 0 191,414 14 5 Proceeds of Sale of 4-per-cent Inscribed Stock Debentures issued under " The Consolidated Stock Act, 1884 " — Colonial issue 24,900 0 0 299,500 0 0 324,400 0 0 45,000 0 0 45,000 0 0 Balance at end of Year, — Cash overdrawn Less advances in the hands of— Stock Agents Crown Agents £1,006 5 10 ' 300 0 0 12,125 4 6 1,306 5 10 10,818 18 8 Totals .. £324,400 0 0 £247,233 13 1

11

8.—6

No. 1- continued. for the Year ended 31st March, 1889, compared with the Financial Year ended 31st March, 1888.

ACCOUNT.

Part in. EXPENDITURE. 1888-J89. 1887-88. i ! Annual Appropriations,—Class I.—Public Works, Departmental „ II.—Railways .. „ III. —Charges and Expenses o£ raising Loan i £ s. d, 12,000 0 0 241,801 12 1 24,364 13 8 -'& ,a. d. 14,000' 0 0 299 ,542 8 5 59,447 14 10 278,160 5 9 372,990*8 3 Proceeds of District Railway Debentures for £243,800 converted into 4-per-cent. Inscribed Stock, and sold with Loan of £1,325,000, now paid over Temporary advance to Part I. Temporary advance made in 1887-88 repaid 300,000 0 0 242,800 0 0 150,000 0 0 Balance at end of Year, — Cash in the Public Account Advances in the hands of Officers of the Government, — In the Colony In London Investments 300,000 0 0 392,800 0 0 115,987 10 2 221 1790 4 (i 9,114 9 2 7,975 15 9 485,000 0 0 4,282 15 5 20,171 0 11 300,000 0 0 • 018,077 15 1 ! 540,244 0 10 £1,312,034 4 1 Totals .. .. .. .. ,. £1,190,244 0 10

Balance to begin the Year with, — Cash overdrawn Less advances in the hands of — Stock Agents .. .. .. ..' .. £1,000 5 10 Crown Agents .. .. .. .. .. 300 0 0 12,125 4 6 1,300 5 10 Four-and-a-half-por cent. 5-30 Debentures ealled in for payment on 1st August, 1886 Five-per-cent. 5-30 Debentures called in for payment on 15th January, 1885 .. Stock created under "The Now Zealand Colonial Inscribed Stock Loan Act, 1882," due 1st November, 1888, redeemed Debentures issued under " The General Purposes Loan Act, 1873," duo 15th December, redeemed 10,818 18 8 300 0 0 100 0 0 235,000 0 0 250,000 0 0 49,500 0 0 Expenses Account,— Discount Commission Brokerage .. .. Stamp Duty.. Interest .. .. .. .. .. .. .. Office expenses 00 0 0 150 0 0 10,600 0 0 264 1 6 299,900 0 0 518 15 0 3,496 6 8 1,752 0 4 1,482 10 6 3,958 11 5 1,025 9 2 235,000 0 0 Balance at end of Year, — Cash in the Public Account Advances in the hands of— Stock Agents 11,074 1 6 12,233 13 1 1,654 15 6 952 4 4 Totals 2,006 19 10 £324,400 0 0 £247,283 13 1

13.—6

12

Table STATEMENT of the RECEIPTS and EXPENDITURE of the PUBLIC WORKS FUND LOANS TO LOCAL

RECEIPTS. 1888-89. 1887-88. £ s. d. £ s. d. Balance to begin the Year with, — Cash in the Public Account .. 16,159 0 0 34,730 0 0 " The Government Loans to Local Bodies Act, 1880," — Debentures created 75,000 0 0 75,000 0* 0 Refunds under Section 15 of "The Government Loans to Local Bodies Act, 1886,"— Clutha County .. .. .. .. .. £120 0 0 Thames County .. .. .. .. .. 287 5 6 Kiwitea Road Board .. .. .. .. .. 508 8 0 Whareama Road Board .. .. .. .. 24 0 10 989 14 4 » % Carried forward 92,098 14 4 109,730 0 0 . < ft

13

8.—6

No. 1—continued. for the Year ended 31st March, 1889, compared with the Financial Year ended 31st March, 1888. BODIES ACCOUNT.

EXPENDITURE. 1888189. 1887-88, Payments to, — Counties, — Amuri Ashburton Bruce Clutha Geraldine Grey Hawke's Bay Hobson Horowhenua Inangahua Kaikoura Patangata Piako Rangitikei Selwyn Southland Thames Waihemo Waimea Waipawa Wairarapa North Wairarapa South Wallace Wanganui • • [ £ s. d. 800 0 0 2,750 0 0 2,075 0 0 3,000 0 0 2,000 0 0 1,300 0 0 3,000 0 0 1,050 0 0 4,460 0 0 3,650 0 0 6,000 0 0 1,300 0 0 2,500 0 0 3,800 0 0 800 0 0 1,000 0 0 39.085 0 0 £ ''s. d. 2,300 0 0 3,500 0 0 3,050, 0 0 3,345 0 0 3,000 0 0 1,250 0 0 0,000 0 0 5,890 0 0 3,000 0 0 1,650 0 0 400 0 0 6,000 0 0 2,380 0 0 5,400 0 0 1,500 0 0 6,000 0 0 1.250 0 0 300 0 0 Eoad Boards, — Alfredton Castlepoint Olive Eden Terrace Egmont Eketahuna Featherston Howiek Township Kiwitea Le Bon's Bay Maharahara Manawatu Manchester Mangaatua Manganui.. Mangawhero Mangorei Masterton Moa Mount Eden Pahiatua Taratahi-Carterton Town of Raglan Upper Taueru Upper Wangaehu Waipipi Waipukurau Waiuku Waiwakaiho Whaingaroa Whakatane Whareama Whataupoko Wirokino OH, uoo u u 050 0 0 150 0 0 250 0 0 3,000 0 0 700 0 0 8,000 0 0 500 0 0 1,000 0 0 3,000 0 0 3,000 0 0 500 0 0 960 0 0 3,000 0 0 3,000 0 0 1,400 0 0 1,700 0 0 350 0 0 000 0 0 3,000 0 0 200 0 0 2,000 0 0 1,000 0 0 2,300 0 0 3,000 0 0 89,085 0 0 50,215 0 0 050 0 0 150 0 0 340 0 0 250 0 0 3,000 0 0 2,500 0 0 740 0 0 3,000 0 0 700 0 0 1,500 0 0 48 0 0 1,908 0 0 1,000 0 0 8,000 0 0 500 0 0 1,000 0 0 3,000 0 0 3,000 0 0 500 0 0 3,000 0 0 960 0 0 3,000 0 0 3,000 0 0 1,400 0 0 1,700 0 0 350 0 0 1,500 0 0 300 0 0 1,700 0 0 600 0 0 1,110 0 0 3,000 0 0 3,000 0 0 000 0 0 3,000 0 0 200 0 0 800 0 0 1,400 0 0 350 0 0 3,000 0 0 300 0 0 800 0 0 500 0 0 2,000 0 0 1,000 0 0 2,300 0 0 3,000 0 0 38,260 0 0 38,260 0 0 32,456 0 0 Boroughs,— Akaroa i — i 800 0 0 800 0 0 800 0 0 Town Boards, — Inglowood .. .. Taraclalc Waipawa .. 800 0 0 300 0 0 000 0 0 800 0 0 300 0 0 800 0 0 800 0 0 000 0 0 78,745 0 0 600 0 0 Carriea forward 78,745 0 0 90,071 0 0

£.—6.

14

Table

STATEMENT of the RECEIPTS and EXPENDITURE of the PUBLIC WORKS FUND LOANS TO LOCAL

RECEIPTS. 1888-89. 1887-88. Brought forward £ s. d. 92,098 14 4 £ s. a. 109,730 0 .0 A Totals £92,098 14 4 £109,780 0 0

15

8.—6

No. 1-continued. for the Year ended 31st March, 1889, compared with the Financial Year ended 31st March, 1888. BODIES ACCOUNT-continued.

EXPENDITURE. 1888 89. 1887-88. Brought forward £ s. d. 78,745 0 0 -£ s. a. 90,071 /K 0 Payments to, — River Boards, — Benmore-Limehills Dipton Henley Makarewa-Hedgehope Mangaone Waipawa West Taieri Winton 1,250 0 0 730 0 0 1,000 0 0 750 0 0 1,000 \) 0 500 0 0 500 0 0 1,000 0 0 1,000 0 0 Unauthorised, — County of Selwyn 4,730 0 0 3,000 0 0 500 0 0 Balanco at end of Year, — Cash in the Public Account 8,623 14 4 16,159 0 0 Totals £92,098 14 4 £109,730 0 0

16

8.—6

Table No. 1— continued. SUMMARY of BALANCES on the 31st MARCH, 1889.

Treasury, Wellington, 16th April, 1889. JAMES C GAVIN, •" a ' 1 ' Secretary to the Treasury. JAMES B. HEYWOOD, Assistant Secretary and Accountant. Examined and found correct. JAMES I 1 DWABD FITZGERALD, Controller and Auditor-General.

Consolidated Public Works Fund. Fund. Suspense Account. Total. Funds. Balances. 1 £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Consolidated Fund :— Ordinary Eevenue Account Land Fund Account State Forests Account Accounts of Local Bodies Deposit A ccounts 462,003 2 9 Dr. 11,489 16 3 189 8 2 Dr. 5,607 17 2 101,284 3 1 Cash Advances Investments Remittances to London 477,506 14 2 i 525,367 14 6 68.932 0 5 ! 57,559 4 0 .. | 786,000 0 0 618 2 3 "• - . 1,003,492 10 11 126,491 10 5 780,000 0 0 575,000 0 0 Cr. j Public Works Fund :— Part I. „ II. „ III. Conversion Account Loans to Local Bodies Account Uitij-toi? vj i i ! i 303,801 7 10 435,817 1 5 618,077 15 1 2,606 19 10 8,623 14 4 1,368,926 18 6 Suspense Account Remittances to London Account 618 2 3 Dr. 575,000 0 0 Totals i ! 1,340,984 1 4 546,439 0 7 1,368,926 18 6 i 618 2 3 1,340,984 1 4 Totals

17

8.~-6

Table No. 2. COMPARATIVE STATEMENT of the Estimated and Actual Receipts and Expenditure of the Consolidated Fund for the Financial Year ended 31st March, 1889.

3—B. 6.

DjFFEBENCES. Estimated. Actual. Mora Less than Estimate, than Estimate. RECEIPTS. Ordinaby Revenue Account :—• Customs Stamps Property-tax Beer Duty Railways Registration.. Marine Miscellaneous Depasturing Licenses, &c. £ s. d. 1,515,000 0 0 614,700 0 0 375,000 0 0 51,000 0 0 1,040.000 0 0 47,500 0 0 17,000 0 0 46,000 0 0 193,000 0 0 £ s. d. 1,459,608 0 8 600,370 16 6 373,830 19 4 51,050 17 6 1,001,134 5 10 39,226 2 8 17,557 11 9 64,338 7 0 184,716 16 3 £ a. d. 50 17 6 £ s.,A. 55,391 19 4 14,329 3 6 1,169 0 8 38,865 14* 2 8,273 17 4 557 11 9 18,338 7 0 8,283 3 9 Sinking Fund increases 3,899,200 0 0 263,200 0 0 3,791,833 17 6 263,200 0 0 18,946 16 3 126,312 18 9 Totals 4,162,400 0 0 4,055,033 17 6 18,946 16 3 126,312 18 9 18,946 16 3 Land Fund Account: — Land Sales,— For Cash On Deferred-payments ■ 11,007 18 2 107,366 2 6 22,001 5 1 47,000 0 0 72,000 0 0 58,007 18 2 49,998 14 11 Totals 119,000 0 0 108,006 13 1 11,007 18 2 22,001 5 1 11,007 18 2 10,993 0 11 EXPENDITURE Obdinaey Revenue Account :— Permanent Appropriations,—■ Civil List Interest and Sinking Fund Under Special Acts Subsidies Territorial Revenue paid over to Local Bodies Endowments 26,300 0 0 1,838,539 0 0 152,317 0 0 53,700 0 0 24,265 0 3 1,833,494 0 6 162,654 13 0 28,630 4 6 10,337 13 0 2,034 19 9 5,044 19 6 25,069 15 6 500 0 0 19,100 0 0 7,875 5 1 28,337 18 3 7,375 5 1 9,237 18 3 Annual Appropriations, — Legislative Colonial Secretary Colonial Treasurer Minister of Justice Postmaster-General Commissioner of Trade and Customs Commissioner of Stamps Minister of Education Minister of Native Affairs Minister of Mines Working Railways Public Buildings Minister of Defence 2,090,456 0 0 2,085,257 1 7 26,950 16 4 32,149 14 9 14,210 0 0 109,929 0 0 50,231 0 0 106,102 0 0 278,440 0 0 68,600 0 0 24,911 0 0 379,093 0 0 13,384 0 0 53,613 0 0 681,838 0 0 45,050 0 0 108,197 0 0 14,899 11 0 100,598 17 2 41,573 11 2 107,777 9 1 260,230 15 7 62,454 6 0 22,567 9 0 377,858 8 1 15,970 14 6 56,179 7 3 641,118 3 2 29,340 12 9 157,855 1 8 689 11 0 1,675 9 1 9,330 2 10 8,657 8 10 18,209 4 5 6,145 14 0 2,343 11 0 1,234 11 11 2,586 14 6 2,566 7 3 40,719 16 10 15,709 7 3 10,341 18 4 1,993,598 0 0 1,888,424 6 5 7,518 1 10 112,691 15 5 Services not provided for District Railway Debentures paid off .. 3,496 18 2 87 7 11 3,496 18 2 87 7 11 3,584 6 1 3,584 6 1 Totals 4,084,054 0 0 3,977,265 14 1 38,053 4 3 144,841 10 2 38,053 4 3 Land Fund Account: — Under Special Acts Crown Lands and Survey Departments.. Rates on Crown Lands • Services not provided for 18,800 0 0 87,223 0 0 21,400 0 0 28,289 14 1 77,703 13 7 15,496 16 8 6 5 0 7,489 14 1 106,788 5 11 9,519 6 5 5,903 3 4 '6 5 0 Totals 127,423 0 0 119,496 9 4 7,495 19 1 15,422 9 9 % 7,495 19 1 ! 7,926 10 8 I Obdinaey Revenue Account ;— Actual receipts Actual expenditure £4,055,0i 3,977,21 13 17 6 >5 14 1 La: [d Fund Account :— Actual receipts Actual expenditure .. £108,006 13 1 119,496 9 4 Surplus £77, It Deficit £11,489 16 3 £11,489 16 3 £77,768 3 5

8.-6.

18

Table No. 3. STATEMENT of the Estimated Liabilities chargeable on the Consolidated Fund outstanding on the 31st March, 1882, 1883, 1884, 1885, 1886, 1887, 1888, and 1889.

31st March, 1832. 31st March, 1883. 31st March. 1884. ! 31st March, 1885. j 31st March, 1880. I 31st March, 1887. 31st March, 1888. 31st March. 1889. Ordinary Bevenue Account. Permanent Appropriations, — Civil List Interest and Sinking Fund Under Special Acts of the Legislature Subsidies payable to Local Authorities Endowments Rents under the Land Acts, payable to Local Authorities £ s. d. 168 0 0 24,000 0 0 £ s. a. 105 0 0 4,470 0 0 957 0 0 £ s. a. 421 0 0 584 0 0 £ s. d. 350 0 0 684 0 0 £ s. d. 383 0 0 490 6 10 25,863 0 0 4,049 7 0 1,311 13 6 £ s. d. 430 0 0 2,719 12 11 9,069 13 6 34,695 0 0 £ s. a. 448 9 9 7,072 1 10 3,221 9 3 £ s. d. 491 18 8 t 4,220 3 0 24,677 4 8 4,365 7 3 2,462 18 6 24,108 0 0 5,592 0 0 1,005 0 0 1,034 0 0 32,102 7 4 46,914 6 5 15,107 8 1 31,852 4 10 Annual Appropriations, — Class I.—Legislative „ II. —Colonial Secretary „ III. —Colonial Treasurer „ IV»i—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 Lands and Mines „ XI. —Working Railways „ XII.— Public Buildings „ XIII. —Minister of Defence 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 0 719 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 j 82,735 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 j 2,437 0 0 103,169 0 0 17,174 0 0 1,295 0 0 3,111 0 0 5,882 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 16,314 18 1 12,461 10 6 2,686 6 6 10,134 8 2 8,925 17 4 2,307 6 7 - 2,251 0 0 1,000 0 0 6,284 0 0 87,797 10 5 112 15 8 9,160 16 0 971 13 8 3,172 12 5 5,352 10 1 4,043 3 4 540 6 7 5,780 0 0 657 0 0 5,977 5 10 86,294 19 1 106 15 6 6,158 6 5 467 19 2 2,440 1 11 6,546 14 4 2,215 6 3 1,218 4 8 3,646 0 0 729 3 4 3,081 18 0 51,298 14 0 21,107 4 1 12,066 3 8 59 4 1 7,100 0 11 1,573 11 3 3,830 13 1 22,574 18 6 5,474 12 7 402 13 3 2,500 0 0 800 0 0 4,528 0 0 47,831 18 8 10,452 8 6 2,948 2 9 19,578 0 0 35,500 0 0 19,831 0 0 14,888 0 0 13,013 5 10 12,474 18 8 139,875 0 0 170,938 0 0 165.752 0 0 160,933 0 0 158,176 8 5 134,538 1 4 111,077 11 4 110,142 3 7 Services not provided for 351 0 0 5 7 10 343 14 1 Totals, Ordinary Bevenue Account 164,394 0 0 176,530 0 0 166,757 0 0 161,967 0 0 190,283 18 7 181,452 7 9 126,184 19 5 142,338 2 6 Land Fund Account. Annual Appropriations, — Class XIV. —Minister of Lands „ XV. —Colonial Treasurer 11,805 0 0 13,331 0 0 10,072 0 0 7,610 0 0 12,362 0 0 23,258 0 0 11,937 8 3 18,700 0 0 3.454 5 3 8,556 19 0 3,634 0 0 2,400 0 0 3,082 15 2 1,350 0 0 Special Appropriations, — Subsidies paid to Local Bodies, 1880-81 One-third of Land Sales on Deferred Pa3inents New Plymouth Harbour Board Ellesmere and Forsyth Beclamation and Akaroa Railway Trust .. Local Bodies' Finance and Powers Act, 1885, section 7 11,805 0 0 13,331 0 0 23,082 0 0 35,620 0 0 30,637 8 3 12,011 4 3 6,034 0 0 4,432 15 2 13,384 0 0 14,109 0 0 9,895 0 0 10,495 0 0 2,054 0 0 12,129 16 9 1,582 19 7 10,527 16 5 1,498 13 9 12,254 16 11 483 11 11 5 ? 780 19 9 1,830 0 0 244 14 3 122 1 3 Totals, Land Fund Account 13,384 0 0 14,109 0 0 9,895 0 0 14,379 0 0 14,079 11 10 12,026 10 2 12,738 8 10 5,780 19 9 25,189 0 0 27,440 0 0 33,577 0 0 49,999 0 0 44,717 0 1 24,037 14 5 18,772 8 10 10,218 14 11 » State Forests Account. Annual Appropriations, — Class XV. —State Forests 850 0 0 370 0 0

8.—6.

Table No. 4. The PUBLIC DEBT OF NEW ZEALAND on 31st March, 1889.

19

Annuai. Charge. Amount outstanding. Due Date. Sinking Funds accrued. 1> KT ; Indebted- I ,, . mess. ■KateAmount. When payable. Remarks. » I ] Int. | S.F. £ £ £ £ o/ /o % £ S . New Zealand Loan Act, 1856 .. J 50,000 50,000 50,000 [ 150,000 (1 July, 1889 - 1 Oct., 1889 (l July, 1894 1 171,910 Cr. 21,910 I /The accumulations of the j sinking fund of this loan ) I now enable the Trustees i h not only to dispense with ' j further contributions from j the Treasury, but to pay • j , the interest of the loan. i New Zealand Loan Act, 1860 1 74,100 1 July, 1891 80,319 Cr. 6,219 New Zealand Loan Act, 1863 .. J Consolidated Loan Act, 1867 Immigration and Public Works Loan Act, 1870.. 378,800 500,000 154,800 188,400 73,800 I 1,295,800 fl5 July, 1914 1 Nov., 1915 -j IS Mar., 1891 15 June, 1891 U-5 Dec, 1891 87,507 208,591 291,293 291,409 6 5 4 J 6 1 2 2 2 4,446 1 Jan. and 1 July 22,728 j 15 Jan. „ 15 July 20,000 j 1 May „ 1 Nov. 12,384 j 15 Mar. „ 15 Sept. 15,072 j 15 June „ 15 Dec. 5,904 | 15 June „ 15 Dec. I ) 359,375 57,625 ! 1,310,400 1,000,000 Ann. drawing 1 June, 1907 141,725 198,151 1,168,675 801,849 5 ! 6 I 6 1 6 ] 1 2-4 2 2 1 1 "246,081 i Quarterly, 15 Jan., &c. 64,000 ! 1 June and 1 Dec. . 1 .. Sinking Fund payable 13 Mar.! and 13 Sept. Auckland Loan Act, 1863 Lyttelton and Christchurch Eailway Loan, 1860 Canterbury Loan Ordinance, 1862 Otago Loan Ordinance, 1862 •• 31,600 77,700 22,800 116,700 1 June, 1896 Various! VariousJ 1 July, 1898 19,901 63,177 5,449 59,284 11,699 14,523 17,351 57,416 ! _ 2,528 ! 1 April „ 1 Oct. 6,216 ; 30 June „ 31 Dec. 1,596 \ 30 June „ 31 Dec. 8,169 ' IJan. „ 1 July *6% on £7,283,100 = £436,986 I Less Interest at 5 % on £3,818,100, representing bonds converted .. 190,905 I £246,081 j Ordinance of Legislative Council Consolidated Loan Act, 1867 .. .. J 64,000 13,000 311 Presentation < 1 Jan., 1893 (15 April, 1913 311 64,000 13,000 ■ i | 77,000 5 4 3,200 IJan. „' 1 July 520 [ 15 April „ 15 Oct. t£28,700 due 1 July, 1893. 21,300 due 1 July, 1894. 18,500 due 1 Jan., 1896. 9,200 due I'jan/, 1S97. Immigration and Public Works Loan Act, 1870 j 372,100 27,900 j 400,000 f 15 April, 1913 (15 April, 1913 372,100 27,900 4 4A 14,884 ! 15 April „ 15 Oct. 1,255 ; 15 April „ 15 Oct. Defence and Other Purposes Loan Act, 1870 ' j 100,000 f Uuly, 1910 (15 April. 1913 £77,700 25,000 75,000 ■ 25,000 75,000 4 1,125 i 30 June „ 31 Dec. 3,000 j 15 April „ 15 Oct. \ j |£10,600 due 2 Jan., 1915. 12,200 due 2 July, 1916. £22,800 Carried forward 4,656,411 I j 3,261,022 I 1,395,389 j 433,108 i I * s j

20

8.—6

Table No. 4 — continued. The PUBLIC DEBT of NEW ZEALAND on 31st March, 1889— continued.

Annual Charge. . ! I ! Amount outstanding. Due Date. Sinking Funds accbued. NET Indebtedness. Kemabks. Eate. Int. S.F. Amount. When payable. Brought forward £ £ 4,656,411 £ 1,395,389 £ 3,261,022 % % £ 433,108 I General Purposes Loan Act, 1873 .. \ 12,300 18,500 54,700 I 85,500 (15 May, 1914 J15 Oct., 1913 (28 Nov., 1914 12,300 18,500 54,700 4 5 492 740 2,735 15 May and 15 Nov. 15 April „ 15 Oct. 15 May „ 15 Nov. . ! Westland Loan Act, 1873 Nelson Loan Act, 1874 New Zealand Loan Acts, 1876-77 New Zealand Loan Act, 1879 District Railways Purchasing Act, 1885 New Zealand State Forests Act, 1885 Government Loans to Local Bodies Act, 1886 .. Public Eevenues Act, 1886 .. .. I Public Eevenues Act 1887 (No. 3) 50,000 15,000 2,207,300 388,000 114,000 8,000 200,000 15 April, 1894 23 Mar., 1896 1 Mar., 1918 1 Nov., 1889 1 April, 1905 1 Mar., 1898 1 Mar., 1892 (10 Oct., 1891 (10 Oct., 1891 1 Mar., 1893 50,000 15,000 2,207,300 3S8,000 114,600 8,000 200,000 100,000 50,000 400,000 5 7 5 5 4 5 5 5 4 2,500 1,050 110,365 19,400 4,584 400 10,000 4,500 2,500 16,000 15 April „ 15 Oct. 1 Mar. „ 1 Sept. 1 Mar. „ 1 Sept. 1 May „ 1 Nov. 1 April , 1 Oct. 1 Mar. „ 1 Sept. 1 Mar. „ 1 Sept. 10 April „ 10 Oct. 10 April „ 10 Oct. 1 Mar. „ 1 Sept. Known as the 10-40s. Balance of Five-million Loan. i 100^000 50,000 | 150,000 I Consolidated Stock Act, 1877 Consolidated Stock Act, 1884 — 400,000 24,564,255 1 Nov., 1929 24,564,255 4 982,570 1 May „ 1 Nov. | Convertible into stock at 107. Convertible into stock at 110. I English Issue .. .. .. | 4,214,100 43,600 I 4,257,700 (15 April,1892 (15 Jan., 1892 4,214,100 43,600 5 5 210,705 2,180 Quarterly, 15 Jan., &c. 15 Jan. and 15 July Colonial Issue .. .. .. i 231,000 797,284 250,000 [ 1,278,284 (28 Nov., 1891 -! 28 Nov., 1891 { 1 Nov., 1895 231,000 797,284 250,000 5 5 10,395 39,864 12,500 28 May „ 28 Nov. 28 May . 28 Nov. 28 May . 28 Nov. I I. i i Totals 38,375,050 I 1,866,588 1,395,389 36,979,661 The whole of the Imperial Guaranteed Lean of 1870 is included herein, although only £200,000 has actually been raised ; the unsold debentures are used for the purpose of obtaining temporary advances from time to time. Deficiency bills amounting to £512,900 are not included.

8.—6

21

Table No. 5. STATEMENT showing the Total Ways and Means of the Public Works Fund and the Total Net Expenditure to the 31st March, 1889.

WAYS AND MEANS. NET EXPENDITURE. £ s. a. £ s. d. Loans :— Immigration and Public Works Loan, 1870 Immigration and Public Works Loan, 1873 Immigration and Public Works Loan, 1874 General Purposes Loan Act, 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 North Island Main Trunk Railway Loan Act, 1882 .. New Zealand Loan Act, 1884 New Zealand Loan Act, 1886 District Railways Purchasing Acts, 1885-86 New Zealand Loan Act, 1888 £ s. a. £ s. a. 4,000,000 0 0 2,000,000 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 1,000,000 0 0 1,500,000 0 0 1,325,000 0 0 357,487 7 11 1,000,000 0 0 Expenaiture on — Immigration .. .. .. '.. 2,142,460 1 4 Public Works, Departmental .. .. .. 329,611 2 2 Railways, including Surveys of New Lines .. 13,634,500 18 4 Roads .. .. .. .. .. 3,469,989 16 9 Land Purchases .. .. .. .. 1,150,359 14 11 Waterworks on Goldfields .. 559,996 1 5 Telegraph Extension .. .. .. 574,010 6 2 Public Buildings .. .. .. .. 1,722,493 0 4 Lighthouses, Harbour Works, and Defences .. 869,718 1 9 Contingent Defence .. .. .. 429,718 19 3 Rates on Native Lands .. .. .. 43,889 6 2 Thermal Springs .. .. .. .. 11,748 5 11 Charges and Expenses of raising Loans .. .. 1,021,472 6 9 Coal Mines .. .. .. .. 10,835 8 0 Interest and Sinking Fund .. .. .. 218,500 0 0 Receipts in Aid :— Contributions of Canterbury Province for Railways .. Stamp Duties to 31st December, 1876 Transfer from Confiscated Lanas Liabilities Account Proceeds of Railway Material handed over to Cook County Council Special Receipts under section 9 of " The Railways Construction Act, 1878 " Sinking Funds released I 56,000 0 0 264,657 16 4 19,963 1 3 27,132,487 7 11 26,189,303 9 3 4,963 7 4 1 1 .i -i a z o Balance on 31st March, 1888 — Cash in the Public Account .. .. .. 515,089 4 8 Advances in the hands of officers of the Government 56,606 19 8 Investments .. .. .. .. 786,000 0 0 1,357,696 4 4 60,616 3 0 8,311 17 9 414,512 5 8 £27,546,999 13 7 £27,546,999 13 7

8.—6,

Table No. 6. STATEMENT of the Estimated Liabilities chargeable on the Public Works Fund outstanding on the 31st March, 1882, 1883, 1884, 1885, 1886, 1887, 1888, and 1889

22

31st March, 1882. 31st March, 1883. 31st March, 1884. 31st March, 1885. 31st March, 1886. 31st March, 1887. 31st March, 1888. 31st March, 1889. Annual Appropriations. £ s. d. £ s. a. 1. j £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. ,& s. d. PART I. 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 7,554 11 8 110 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 7,554 11 8 3 3 3 1 3 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 10,661 17 2 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 Class I.—Immigration II. —Public Works, 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, Harbour Works, and Defences .. „ XL —Rates on Native Lands „ XII. —Thermal Springs Contingent Defence Miscellaneous Public Works 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 7 119,220 6 11 7,000 0 0 5,000 0 0 718 16 11 56 8 2 386,345 8 9 1,364 17 11 1,246 12 9 254,350 0 11 173,630 12 6 238,600 0 0 120,144 0 0 14.963 0 0 1,485 10 1 3,700 0 0 3,983 0 0 23,255 5 9 55,161 2 9 164,410 10 3 ! 80,724 0 0 10,663 0 0 2,500 0 0 i 3,800 0 0 1,033' 9 2 119,120 10 2 1,068 2 6 54 10 6 3,004 0 0 29,610 19 7 36,431 12 1 11,000 0 0 200 0 0 1,200 0 0 5,793 4 3 120,857 10 3 3,911 8 4 41,752 10 10 15,138 2 4 3,591 0 0 23,453 18 10 6,466 2 3 761 0 9 761 0 9 Totals 880,276 9 10 1,171,100 7 9 1,282,843 4 8 1,036,641 5 9 1,094,589 15 4 454,767 11 5 1205, 323 4 0 165,273 3 11 I PART II. Class I.—Eailways .. „ II. —Eoads « III. —Land Purchases 158,360 5 9 70,075 12 6 1,549 1 1 4,279 15 11 27,296 4 1 87 14 0 1,587 15 4 29,621 0 0 Totals 187,981 5 9 75,904 9 6 28,971 13 5 PAET III. I Class I.—Eailways .. „ II. —Costs and Contingencies 326,290 6 0 360 13 6 190,467 12 9 ,"174/394 2 10 -• Totals 326,650 19 6 |190,467 12 9 174,394 2 10 ! I

23

8.—6

Table No. 7. ESTIMATED Expenditure of the Consolidated Fund for 1889-90, compared with Actual Expenditure of 1888-89.

Table No. 8. STATEMENT of the Estimated Revenue of the Consolidated Fund for 1889-90, compared with the Actual Revenue of 1888-89.

Differences. Estimate for 1889-00. Actual of 1888-89. Increase. Decrease Okdisaey Revenue Account. £ 26,300 1,888,405 248,761 2,163,466 £ 24,205 1,833,494 227,498 & 2,035 54,911 21,203 Civil List Interest and Sinking Fund Under special Acts 2,085,257 78,209 Annual Appropriations,— Legislative Departments .. .. .. Colonial Secretary's Department Colonial Treasurer's Department Justice Department Postal and Telegraph Department Customs and Marino Department Stamps and Deeds Department Education Department Native Affairs Department Mines and Lands Department Working Railways Department Public Buildings and Domains Department Defence Department .. 14,330 113,022 33,163 107,678 282,328 69,888 22,777 309,382 17,397 47,309 600,000 50,275* 160,316 1,953,865 14,900 100,599 41,574 107,777 260,231 62,454 22,567 377,858 15,971 50,179 641,118 29,341 157,855 1,888,424 12,423 ,, 22,097 7,434 210 * 570 8,411 99 1,426 8,476 18,882 26,934 2,401 8,' 870 ! » 91,867 26,426 Services not provided for District Railways Purchasing Act Debenture redeemed 3,497 87 3,497 87 Total expenditure 4,117,331 3,977,265 170,076 30,010 30,010 Land Fund Account. Under special Acts Crown Lands and Survey Departments Rates on Crown lands Services not provided for 140,006 5,489 20,800 85,602 15,598 20,289 77,704 15,497 6 71898 101 G 122,000 119,496 7,999 5,495 5,495 ' Total Consolidated Fund 2,504 4,239,331 4,090,761 142,570 * Includes £25,000 for school-buildings, charged last year in " Education Department."

Estimate for 1889-90. Actual of 1888-89, Differences, Increase. Decrease. i i " Ordinary Bevenue Account. £ 1,550,000 605,000 353,000 50,000 1,030,000 40,000 19,200 44,000 221,400 £ 1,459,008 000,371 373,831 51,051 1,001,134 39,226 17,557 64,338 184,717 £ £ 90,392 : 4,629 ' I 20,831 1,051 28,800 i 774 | 1,043 : 20,338 36,683 j Customs Stamps Property-tax Beer Duty Railways Registration and other Fees Marine Miscellaneous Depasturing Licenses, Rents, &c. Debentures for Sinking Fund increases.. 3,912,600 275,200 3,791,833 263,200 162,987 12,000 174,987 42,220 42,220 4,187,800 4,055,033 132,767 Land Fund Account. 7,992 20,102 Gash Sales Deferred-payment Sales 66,000 70,100 58,008 49,998 130,100 108,006 28,094 Total Consolidated Fund.. 4,323,900 4,163,039 100,801

24

8.—6

Table No. 9. ESTIMATED Revenue and Expenditure of the Consolidated Fund for the Financial Year ending the 31st March, 1890.

Note.—Ordinary Revenue Account— i Surplus at 31st March, 1889 .. .. .. .. .. .. ..£77,769 Deduct amount since applied towards reduction of deficit at 31st March, 1888 .. 50,000 £27,769 Estimated revenue in excess of expenditure, as above .. .. .. .. .. 70,469 , £98,238 Proposed to be applied in further reduction of deficit of 31st March, 1888 .. .. .. .. 55,000 £43,238

REVENUE. Ordinary Revenue Account :— Customs Stamps Property-tax Beer Duty Eailways Registration and other Fees Marine Miscellaneous Depasturing Licenses, Rents, &c. £ 1,550,000 605,000 353,000 50,000 1,030,000 40,000 19,200 44,000 221,400 £ 4,187,800 EXPENDITURE. Ordinary Revenue Account :— Civil List Interest and Sinking Fund Under Special Acts Legislative .. Colonial Secretary's Departments Colonial Treasurer's Departments Minister of Justice Departments Postmaster-General's Departments Commissioner of Customs' Departments Commissioner of Stamps' Departments Minister of Education Departments .. Minister of Native Affairs Department Minister of Mines and Lands Departments Working Railways Public Buildings and Domains Department Minister of Defence Departments & 26,300 1,888,405 248,761 14,330 113,022 33,163 107,678 282,328 69,888 22,777 369,382 17,397 47,309 660,000 56,275 160,316 £ Debentures for Sinking Fund increases 3,912,600 275,200 Land Fund Account :— Lana Sales, — For Cash On Deferred Payments ; 66,000 70,100 4,117,331 i: 136,100 Land Fund Account :— Payments to Local Bodies Crown Lands and Survey Departments Bates on Crown Lands 20,800 85,602 15,598 122,000 Balance :— Excess of Revenue, — In Ordinary Revenue Account In Land Funa Account 70,469 14,100 84,569 - £4,323,900 £4,323,900

8.—6.

Table No. 10. Articles upon which Increased Rates of Duty were levied under the Tariff of 1888.

4—B. 6.

25

Articles. Increase in Quantity or Value. Decrease in Increase in Quantity or Value. Duty. Decrease in Duty. £ 175 82 £ Acia, acetic Aerated and mineral waters Ale, porter, beer, cider, and perry, bulk Apparel" Bags, flour.. BagsN.O.E. Baskets and wickerware Bicycles and tricycles, &c. Bitters and cordials Blacking and boot-gloss Black lead.. Blankets Blocks, wooden tackle Blue Boilers, land and marine Boots and shoes Boot- and shoe-uppers, &c. .. .. ' .. Brass cocks, valves, whistles, &a. Brass manufactures N.O.E. Brooms, brushes, and brushware Buckets and tubs, wood Candied peel Candles Carriages, carts, drays, &c. Carriage-shafts, spokes, &c, N.O.E. .. Cartridges and cartridge-cases Cement Chaff-cutters, &c. .. .. .. » .. China, porcelain, and parianware Cigars and cigarettes Clocks Confectionery N.O.E. Copper manufactures Cordage and. rope N.O.E. Cotton piece-goods N.O.E Cutlery Drapery N.O.E. Earthenware, &c. Fancy goods Fire-bricks.. Fireworks Fish, dried, pickled, and salted Fish, potted and preserved Fruit, fresh Fruit, preserved in syrup Fruit, pulp Furniture and upholstery Galvanised-iron manufactures N.O.E. Gas-pipes Glucose Glue and size Haberdashery Hair-brnshes and combs Hardware, ironmongery, and holloware Hats and caps Hosiery Ink, writing Iron bridges Iron, wire fencing and apparatus Iron columns, &c. Iron, plain galvanised sheet and hoop Iron pipes and fittings, wrought Iron tanks Jams, jellies, and preserves Jewellery Lead in sheets Leather Leather manufactures Limr- and lemon-juice, sweetened Machinery N.O.E. .. Maizcna and cornflour Marble, granite, &c, rough Marble, granite, &c, dressed Matches Meats, potted and preserved.. Milk, preserved Millinery Musical instruments —Organs, harmoniums, and pianos Mustard Oil, olive Opium Paints, ground in oil Paints, mixed % 11,8401b. £817 5,152 gallons ... "l26 £157,520 51,932 712 601 130 265 365 17 51 514 52 25 61 5,414 £1,722 £10,373* £1,148 411 gallons £422 ../' £583 £238 £20 .. ' • 69,9601b. £367 £25,514 £540 £1,058 £822 £280 68 273 449 58 40,9281b. 349,3601b. £695 £21 .. 21.4 1,104 £827 20,133 barrels.. 306 121 262 2,693 83 563 1,805 95 £1,402 4,9311b. £503 £1,663 37 £118 31 253 6,540 1,060 £31,738' £2,668 £2,465 £317,367 35|272 £3,943 1,813 462 50 129 773 1,009 3,037 233 21 £13,820 £26 .. £893 926cwt. 294,9601b. £998 27,2621b. £14,181 "291 296 i'l70 £841 £1,848 346,0801b. 5,3441b. £28,385 "269 "323 3,539 £602 £19,650 £9,972 £267 £730 £11,144' 132 2,808 5,069 4,006 112 146 32,970cwt. "395 £35 .. 7,553cwt. 7 1,046 306 390 £4,315 100 number .. 123,3601b. 800 633 856 657 481 £533 885cwt. £2,201 13,2001b. £577 £16,958 67,6001b. £1,369 1,191 169 18 512 1,008 44 91 1,474 63 £1,662 " £5,473 " £3 .. £1,147 £631 £7,445 18,4801b. 9,252 gallons .. 2,0241b. 2,813cwt. 145cwt. "267 429 349 i'316 77 400

26

8.—6

Table No. 10— continued. Articles upon which Increased Rates of Duty were levied— continued.

Articles. Increase in Quantity or Value. Decrease in Quantity or Value. Increase in Duty. (Decrease in Duty. Paper bags Paper, wrapping, brown Paper, wrapping, other kinas Patent medicines Peas, split Photographic goods and chemicals Pickles Plate, gold and silver Platedware Portmanteaux, bags, &o. Provisions N.O.E. .. Pumps Putty Railway- and tramway-plant Eice Bugs, woollen, opossum, and other Saccharine Saddlery. Salt Sauces Sausage-skins Silks Snuffs Soap, common .. .. .. ... Soda, ash Soda, crystals Spices, unground Spices, ground Spirits (exclusive of bitters ana coraials, and methylated) Spirits, methylated Starch Stationery Steam-engines, ana parts of .. Stearine and wax Tarpaulins Tea Textile piece-gooas Tinware Twine N.O.E. Umbrellas and parasols Varnish Vegetables Watches Waterworks pipes, iron Wine, sparkling Wine, Australian Wine, other kinds Zinc, tiles, ridging, &c. Zinc manufactures N.O.E. Baking -powder Capers Carraway seeds Catsup Chutney Coffee, essence of Curry-powder and paste Drained peel Essences, flavouring Fish-paste Furniture, knife, and plate powder Gelatine Harness oil, composition, and leather-dressing Olives Oysters, preserved Pepper, Cayenne Easpberry vinegar .. Soap-powaer, extract of soap, dry and soft soap Syrups Washing-powder 90ewt. £1,797 £900 £1,208 l,122cwt. l,330cwt. 224cwt. £3,920 4,287 doz. pints £167 £ 276 104 280 1,964 67 309 328 20 768 213 276 289 151 9 646 625 7 116 3,177 £ * £1,779" 71cwt. £8,029 6,097cwt. £3,010 28oz. 1,396 toits £2,967 " 4,560 doz. pints 640 10,865 64 6 £747 £40,351 1201b. 878cwt. "l35 l,489owt. 3,640cwt. 157 279 615 97 32,363 151 3,651 1,657 290 321 166 51,9201b. 21,087 gallons 595 gallons 2801b. 26,9041b. £5,307 £2,658 7,0401b'.' £421 £39,842' £2,345 1,093,2001b. .. 11,265 757 1,010 1,471 919 315 "740 £6,303 " 840 gallons £1,521 £2,124" £2,775 £1,860 " 498 10 597 68 364 gallons 1,504 gallons .. 11,169 gallons 1,877 £30 .. £196 6 93 £2,508 500 Totals 185,473 46,217

Article. Increase in Quantity or Value. Decrease in Increase in Quantity or Value. Duty. Decrease in Duty. Cocoa-beans Plaster of Paris Precious stones, unset Tobacco, sheep-wash Sulphur Woolpockets * 5,7921b. 559 casks £815 £ £ 20 25 24 3 12 21 1,393 cwt. 2401b. 96 doz. Ill

8.—6.

Table No. 11. Articles upon which no Increased Rates were levied under the Tariff of 1888.

Table No. 12. Articles upon which Decreased Rates were levied under the Tariff Act of 1888.

27

Articles. Increase in Quantity or Value. Decrease in Quantity or Value. Increase in Decrease in Duty. Duty. £ £ 310 640 133 50 16 10 123 346 '42 Acid, tartaric (vide cream of tartar) .. Ale, portS, beor, cider, in bottle Almonds, in shell Almonds., shelled Bacon and hams Biscuits, plain Biscuits, other kinds Boiled sugars Caps, percussion Cards, playing Carpets .. Chicory Chocolate and cocoa Coffee, raw Coffee, roasted Composition and lead piping Corks, bottling Cream of tartar {vide tartaric acid) .. Doors Drugs and druggists' wares Firearms Floorcloth Fruits, dried Glass, window Glass, plate, &c. Glassware Grain, barley Grain N.O.E. Grain, ground, N.O.E. Hops Iron, galvanised corrugated Iron nails Isinglass Lamps and lanterns Maize Malt Mats Matting Musical instruments N.O.E. Nails N.O.E Nuts N.O.E. Oil, mineral Oil, vegetable, in bulk, N.O.E. Oil, vegetable, in bottle Oil N.OE. Paintings Paperhangings Perfumery Perfumed spirits Picture-frames Pipes, tobacco Powder, sporting Sacks other than cornsacks Shot Soap, scented and fancy Soda, carbonate and bicarbonate Sugar Timber, sawn, rough Timber, sawn, dressed Timber, shingles and laths Timber, palings Timber, posts Timber, rails Tobacco Tobacco, unmanufactured Treacle and molasses Turpentine Twine, binder Vinegar .. .. ... Whiting and chalk Woodware Woolpacks.. 74,4001b. 8,533 gallons .. 15,9001b. 4,0001b. 1,9201b. .: 66cwt. 14,7601b. 41,5201b. 1,040,000 No. .. 1,680 packs £4,054 " "608 35,9201b. 3,9201b'.' 49 9,7601b'.' 449 "*22 1,4401b'.' 30 51cwt. £160.. 9 24 78,2401b. ",326 70 No. £1,649 7 247 £167 £1,127 25 169 93,3601b. 162,000ft. "778 162 £1,293 £1,026 194 154 9,681 centals .. 2,613 centals .. 12,440 centals 22,6401b. 27,180cwt. 362 98 622 566 2,718 lOcwt. 1 £227 '' 119 9 34 £794 240 centals 690 bushels .. £366 £34 .. 69 55 5 £1,485 " 193cwt. "223 29 250,200 gallons 9,480 gallons .. 1,8001b'.' 6 j 255 237 15 25,920 gallons £667 £320 "648 100 48 £1,593 " £1,244 434 gallons £480 239 311 455 72 £2,387 9,5201b. £20 .. 358 238 3 390owt. "l95 £1,524 320cwt. "381 16 193,000ft. 895,2001b. "l93 1,865 1,000ft."' 250,000 No. .. 2 25 60,000 No. .. 250 No. 60 1 7,000 No. 21,3141b. 14 3,730 8,0201b. 144,9601b. 13,120 gallons 802 302 328 £3,426 16,320 gallons 2,860cwt. 514 408 143 £2,853 " 428 912 dozen "ll4 Totals 12,686 15,799

8.—6

28

Table No. 13. Articles grouped in Classes for Purposes of Comparison under the Tariff of 1888.

1888-89. 1887-88. Articles. Value entered for Home Consumption. Duty. Value entered for Home Consumption. Duty. Apparel -. Collars and cuffs Furs Cotton dress-prints, &c. Cotton piece-goods Drapery Shawls Textile piece-goods, including woollens and linens Hosiery Millinery Feathers Haberdashery £276,976 4,472 896 696 £ 69,244 \ 1,118 I 224 J 174 J £125,520 £ 18,828 89,400 241,795 1,355 96,855 50,205 8,835 4,096 14,375 21,967 26,458 10,340 42,430 3,470 10,510 785 48,124 105,959 34,898 7,395 19,689 2,182 10,340 7,790 1,045 801 60,485 J 8,940 48,359 ) 271 J 19,371 10,041 1,767 I 1,174 j" 2,875 40,668 16,380 2,457 -" 564,027 84,604 54,040 40,233 8,106 6,035 . 27,307 4,096 Sewing-cotton, silks, and thread Blankets Hats and caps Bugs, woollen, cotton, opossum, &c. Umbrellas and parasols Materials for manufacture of Silks, &e. .. Calico Coloured cotton shirtings .. .. ) Union shirtings .. .. .. j Moleskin Corduroy Forfar dowlas, &c. Hessians Waterproof material Leather cloth Tailors' trimmings 2,068 8,486 694 2,102 42,760 3,519 20,876 10,360 22,780 460 4,207 6,414 1,554 3,417 69 631 12,081 7,773 85,084 1,166 34,031 10,759 832 "I Under textiles. 47,449 Boots and shoes, &o. Children's 0 to 3 .. Gum-boots .. .. £1,205,224 188,939 !£1,165,065 137,377 £85,345 1,039 4,652 17,069 | £116,550 11,655 £91,036 17,069 £116,550 11,655 Carriages, &c. 764 j Carriage materials, wooden .. £3,820 807 3,317 3,732 4,924 121 £3,053 1,462 (free) .. 828 \ 3,312 J 458 „ iron, <&c. Axle-arms and boxes, free .. J 10,502 458 £16,600 885 £19,157 Brassware Brass cocks, &c. Brass tubing, stamped Cutlery Iron pipes and fittings £2,285 340 107 13,195 6,120 5,920 14,550 74,775 113 625 35 2,180 115 710 730 35 1,648 299 1,486 1,266 1,096 3,184 868 230 457 68 Free 2,639 306 296 2,910\ 14,955 17 125 7 I 327 f 23 142 146 11 412 £1,227 184 10,527 1,805 4,702 i'579 Free. gas .. Metal manufactures Hardware, ironmongery, and holloware Copying-presses Iron doors for safes Mantelpieces Weighing-machines .. - Iron weighbridges Lawn-mowers Iron bridges and material Iron columns Galvanised-iron manufactures Corn-riddles and sieves Forges Rivets and washers Tacks Tinware Japanned ware Wire mattresses and webbing 104,973 14,574 807 15,746 Free. 121 796 ) 217 J 46 1,707 256 Iron, galvanised, corrugated .. „ plain sheet.. Iron, black sheet £131,912 23,896 £138,885 17,765 69,980 owt. 13,947 „ 14,200 „ 6,998 1,046 Free 97,160 cwt. 21,500 „ . 17,020 , 9,716 Free. 98,127 cwt. 8,044 135,680 cwt. 9,716

29

8.—6.

Table 13 — continued. Articles grouped in Classes for Purposes of Comparison under the Tariff of 1888— continued.

s—B. 6.

1888-89. 1887-88. Articles. Value entered for Home Consumption. Value entered for Home Consumption. Duty. Duty. Chinaware, &c. Earthenware Flooring-tiles Gas-retorts Fire-brieka Filters .. ] £7,055 £ 1,411 £5,653 848'' 23,610 4,722 19,667 2,950 250 205 50 41 276 Under earthenware Free. , Machinery N.O.E. .. Steam-engines, and parts of Free .. Boilers, land and marine Boiler-tubes Flour-mills roller Agricultural Portable and traction engines Dairying Electric Mining Oil-refining and boring Refrigerating and meat-preserving .. Under section 13 .. Locomotives £5,900 1,450 197 305 764 6,948 71,311 9,321 1,795 5,728 11,410 122 4,247 10,028 1,800 1,182 290 ) 61 £23,601 4,108 672 4,337"' 38,704 495 2,633 10,874 Free. 13,056' 6,490' £131,326 1,533 £104,970 Free. Harness Saddlery Whips Saddlers' ironmongery Saddle-trees £610 10,610 1,493 10,294 696 "I 122 ) 2,122 ■ 224 £15,680 2,352 11,316 Stationery, manufactured N.O.E. .. „ school £23,703 2,468 £26,996 2,352 £16,376 16,700 1,965 4,094 1 2,505 j £33,967 5,095 £35,041 6,599 £33,967 5,095 Leather manufactures £6,535 1,307 £4,787 718 Drugs and druggists' sundries Apothecaries' wares Patent medicines £16,427 8,773 19,644 2,464 ) 1,316 j4,911 J £50,187 7,528. Chicory Coffee £44,844 8,691 £50,187 7,528 3,440 1b. 259,840 ,, 43 3,248 7,360 1b. 269,600 „ 92 3,370 Candied peel Drained peel 263,280 1b. 3,291 276,960 1b. 3,462 35,712 lb. 69,040 „ 744 863 76,640 Under oilmen's stores 958 Free. 104,752 1b. 1,607 958 Leather 76,640 394,360 cwt. £2,451 2,555 Free 407,760 cwt. £2,819 1,699 Free. Fish, potted and preserved Sardines 433,440 1b. 103,680 „ 3,612 1 864 f 832,080 1b. 3,467 Stearine Paraffin, &c, wax .. 537,120 1b. 4,476 832,080 1b. 3,467 4,800 1b. 135,200 „ 30 1 845 j" 132,9601b. 554 140,000 1b, 875 132,960 1b. 554 Spirits, bitters „ cordials Liqueurs Spirits and strong waters, in case .. „ in bulk* .. Spirits, medicated, in case „ in bulk Spirits, mixed or sweetened, in case „ in bulk 824 gallons .. 75 „ 195 150,442 , .. 187,316 661 „ 95 „ 13,646 „ .. 737 „ .. 659 1 60 j" 156 \ 120,354 140,487 529 y 71 10,917 553 / 488 gallons.. 382,005 „ .. 354 240,704 353,991 gallons.. 273,786 332,493 gallons.. 241,058

8.—6

30

Table No. 14. QUANTITIES of Principal Articles (the Produce and Manufacture of the Colony) exported during the Financial Years 1887-88 and 1888-89.

Table No. 15. Classified Balances at Credit of Depositors on 31st December, 1888, in the Post Office Savings-Bank.

By Authority : George Didsboby, Government Printer, Wellington.—1889.

_ Articles. 1887-88. 1888-89. Increase in 1888-89 unless marked "Beer." Wool* .. Tallow Hides .. Sheepskins Leather Babbitskins ' Gold .. Silver Coal .. Other minerals Flour Bran and sharps Wheatt Barleyf Malfcf .. Oatsf Oatmeal Potatoes .. Hops Grass seeds Butter Cheese ... Bacon and hams Salt beef ■Preserved meats Frozen meat Fish Kauri gum Phormium Cordage Sawn (and hewn) timber Fungus.. Ale and beer Soap 1b. tons .. number .. number owt. .. number oz. oz. tons tons tons tons .. bushels .. bushels .. bushels .. bushels owt. tons owt. .. bushels lb. lb. cwt. owt. cwt. lb. owt. tons tons cwt. feet cwt. .. gallons cwt. 92,485,828 7,132 43,358 441,995 9,456 12,125,871 203,883 20,309 48,410 1,632 1,581 8,127 666,237 88,840 26,113 2,849,653 24,971 15,502 2,169 164,550 2,472,624 3,381,616 8,987 14,908 39,354 49,363,888 5,001 7,263 1,812 348 33,791,992 8,050 17,381 3,527 87,077,030 7,358 46,232 315,967 19,619 12,593,177 211,764 22,179 64,863 5,213 7,606 15,556 2,745,784 114,308 1,294 2,723,102 28,979 13,047 2,124 274,772 3,631,376 3,731,840 7,195 16,171 46,562 63,003,472 7,290 8,533 5,603 668 44,219,840 9,975 20,966 4,161 Doer. 5,408,798 226 2,87.4Decr. 126,028 10,163 467,306 7,881 1,81* 16,453 3,581 6,025 7,429 2,079,547 25,468 Deer. 24,819 Deer. 126,551 4,008 2,545 Deer. 45 110,222 1,158,752 350,224 Deer. 1,792 1,262 7,208 13,639,584 2,289 1,270 3,791 320 10,427,848 1,925 3,585 634 ♦ Of the decrease in the quantity exported in 1888-89, about 2,001 lurchased for the woollen mills in ]888 on the quantity purchased in If I- All grain—Bushels : 1887-88, 3,030,843 ; 1888-89, 5,684,488 ; increase 1,! XOOOlbs. are accounted for by the increase in the quantity 87. 053,645.

Year. Not exceeding £20. Between £20 and £50. Between £50 and £100. Between £100 and £200. Between £200 and £300. Between £300 and £400. Between £400 and £500. Over £500. Total Number all Accounts. 1886 57,368 8,243 4,852 3,112 883 219 117 77 74,871 1887 60,043 9,140 5,381 3,631 1,021 266 140 102 79,724 1888 62,831 9,918 5,690 4,082 1,279 372 194 122 84,488