FINANCIAL STATEMENT (In Committee of Supply, 8th July, 1902) BY THE ACTING COLONIAL TREASURER, THE HON. SIR JOSEPH WARD, K.C.M.G.

Appendix to the Journals of the House of Representatives, 1902 Session I, B-06

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CONTENTS.

PACJE Results of 1901-2 :— i Revenue .. ii Expenditure Results at the close of 1901-2 Public Works Fund iv Land for Settlements Account The Conversion Account iv New Zealand Consols Account iv The Loans to Local Bodies Account.. The Public Debt . ■ ■ • • ■ • • ■ v Our Late Loan Transactions Government Advances to Settlers Office vii Valuation of Land Department The Natives and the Maori Councils Act viii Land for Settlements viii Crown Lands and Settlements viii Forests and Plantations .. ix The Health Department The Tourist Department.. x Old-age Pensions x Land-tax and Income-tax xi Gold-mining Proclamation of Rivers and Streams xi State Coal-mines xi Over-sea Trade Railways and Roads Construction xii Working Railways xiv Mortgage-tax xiv Railway Reductions xiv Easy Terms for Bush Settlement xv Concessions xv Concerning our Produce Financial Year 1902-3— xvi Expenditure xvii Revenue Estimated Results at the Close of the Current Financial Year .. •• •• xvm xviii New Loan xix Conclusion

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1902. NEW ZEALAND.

FINANCIAL STATEMENT (In Committee of Supply, 8th July, 1902) BY THE ACTING COLONIAL TREASURER, THE HON. SIR JOSEPH WARD, K.C.M.G.

Me. Guinness, — , —. ~ „ Owing to the presence in London of my colleague the Kignt Honourable the Premier and Colonial Treasurer, as the guest of the Imperial Government the duty of preparing this year's Financial Budget falls to me; and I trust'that in placing the position of the colony before honourable members they will give me credit for an earnest desire to do so fairly and impartially. It is unnecessary for me to say that in temporarily taking up the work of my distinguished chief I am undertaking no light task, but I approach it with confidence, relying on the consideration and courtesy which have always been extended to me by honourable members. The year has been an eventful one for the Empire. The South African War has been ended upon terms satisfactory to all parts of the British Dominions and the generous consideration to our former foes will, I feel sure, be justified by the event in hastening the time when they will forget the bitterness of the struggle and become loyal, prosperous, and contented subjects of the Grown. Such a result will be a full and sufficient reward for the sacrifices we made m The enthusiastic manner in which the people of New Zealand had set themselves to celebrate the coronation was unhappily marred by circumstances with which all are familiar, and upon which it is unnecessary for me to dwell further than to voice the deep sorrow and regret felt throughout New Zealand. Happily His Majesty is now reported to be progressing favourably—indeed, the latest announcement is that he is out of danger His complete recovery will be heralded by the people of New Zealand with pleasure equal to that felt in any other portion of the great Empire over which he rules. _ There have been no very remarkable occurrences to chronicle in our own colony Its position, whether viewed from the agricultural, pastoral, or commercial side, is a matter for congratulation. Our advantages m soil and climate Se great, and we have much to be thankful for in our immunity from drought Yet there is much to be done, especially for the settlers in the back blocks; but the development that has already taken place testifies to the energy and industry of our people, and gives promise of better things to come. EBSULTS OF 1001-2. Be venue. The revenue proper of last year exceeded six millions—the highest in the history ofTe coloiiy The actual figures are £6,053,070 Is 6d., or £234,451 m excess of the estimate and £200,364 9s. 6d. in excess of the revenue received

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during the year ended March, 1901. This has been obtained not only without extra taxation, but in spite of large concessions made in Customs duties, in railway rates and fares, and in the adoption of penny postage of letters. Such expansion is, T think, satisfactory evidence that our people are prosperous and our trade is flourishing. Table No. 2 attached to this Statement will show honourable members the exact results of the actual over the estimated revenue under the various heads : it is hardly necessary, therefore, to set the figures down here. I may, however, mention that Customs exceeded the estimate by £91,116, Eailways by £109,488, and, notwithstanding the gift to the colony of the penny postage, Stamps (which include the postal revenue) by £5,171. Comparing the actual revenue of last year with the figures of the preceding year, Customs show an increase of £20,254, Eailways of £148,847, and Stamps of £4,736. The land-tax and income-tax receipts for the year exceeded the estimate by £7,835 and £4,397 respectively, and the receipts of the previous year by £18,252 and £5,588. The only head of revenue which did not come up to the estimate or to the previous year's collections was the territorial revenue, which was £20,380 under the estimate, and £20,534 less than the amount received during the previous year. This is accounted for by a. falling-off of receipts from cash land-sales; but. as these receipts represent the realisation of our national assets, I do not deplore the falling-off. In addition to the revenue proper as above mentioned, further receipts were brought to credit as by law provided—namely. £57,000 proceeds of debentures issued against the increases to the Sinking Fund for the current year, and £42,768 19s. 6d. representing recoveries of expenditure charged during the preceding year, principally in connection with the cost of our contingents in South Africa. Total receipts from all sources reached £6,152,839 is., as compared with £5.906,916 3s. 9d. of the previous year. Expenditure. Our expenditure last year was abnormally large, reaching £5,895,914 12s. 2d. ; or £416,211 2s. 10d. in excess of the expenditure of the year 1900-1, but. £2,787 7s. lOd, within the estimates of the year to which the expenditure relates. The precise figures relating to the actual as compared with the estimates will be found in Table No. 2 herewith. It is an oft-told tale, but it is right to mention the exceptional cause of this large expenditure. I may therefore be forgiven for only briefly referring to it, but I shall confine my remarks to the principal increases in the expenditure of last year, as compared with the previous twelve months. Interest and sinking fund have gone up £58,323, which must be expected as long as it is necessary to raise loans for carrying out our public-works policy. Our old-age pensioners cost us £10,861 more than the preceding year. There was, however, a saving of £12,748 in subsidies. For all services the expenditure under permanent appropriations increased by £62,445 over the previous year. It is, however, in the annual appropriations that the large increases are to be found. In the Colonial Secretary's Department the expenditure increased from £110,555 to £229,717, giving an excess of £119,162, made up principally of the cost of the visit of the Duke and Duchess of Cornwall and York, the Imperial regiments, and costs incidental thereto, which may be set down at £87,000. The taking of the census also increased our expenditure by £18,000, and the increased volume of parliamentary and departmental work caused the Printing and Stationery Department to draw upon us for £4,000 extra. The two new Departments of Public Health and Tourists more than dispose of the further extra expenditure. In the Department of the Postmaster-General an increase of £47,453 is to be found, arising from the continued general expansion of the postal and telegraphic business and from additional cost involved by the introduction of the penny post. Our national system of education is answerable

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for an increase of ,£57,579, the result of increased grants in terms of the amended scale brought into force last year. In the Department administered by my colleague the Minister for Agriculture the expenditure increased by £26,408. The purchase of land for experimental farms, and the erection of necessary buildings thereon, and the cost of their upkeep, involve a large expenditure. These farms, however, are doing very good work, and it will not be long before they are self-supporting. The passing of "The Slaughtering and .Inspection Act, 1900," necessitated the engagement of additional veterinarians and assistants; and a considerable sum required to be expended in the purchase and importation of stud horses and cattle. My own Department of Working Eailways, I notice, is answerable for an increase of £135,939 over last year's figures. This additional expense had to be incurred in order to cope with the very largely increased traffic, to meet which some 445,000 extra train-miles had to be run. The visit of the Eoyal party necessitated heavy extra outlay to insure, by extra care and precautions, the safety of our Eoyal guests while travelling on the railway-lines. Twenty-three miles of new lines were added, and many additional train facilities were introduced for the comfort and convenience of travellers. All these items spell additional cost. Including services not provided for, the inoreased expenditure under the annual appropriations of last year over the previous year amounted to £353,766. Adding these last figures to the £62,445 increase under the permanent appropriations gives £416,211 of increased expenditure during last year, as I have already stated. In addition to the ordinary departmental -[expenditure a sum?of £19,000 was paid for the redemption of debentures at short currency issued under " The Land for Settlements Consolidation Act, 1900," and £500,000 were paid over to the Public Works Fund in accordance with the Budget Statement of last year and parliamentary authority duly obtained. EESULTS AT THE CLOSE OF 1901-2. The balance brought forward to commence the year amounted to £532,564 and the excess of revenue over expenditure for the twelve months resulted in an additional sum of £256,924; these sums together amount to £789,488, from which we have to deduct the transfer of £500,000 to the Public Works Fund and the £19,000 for debentures redeemed, leaving £270,488 as a surplus at the close of the year, which I am sure honourable members will agree with me in thinking is an exceedingly satisfactory result of the year's transactions. PUBLIC WOEKS FUND. My colleague the Minister for Public Works is desirous of presenting his annual Statement as early as possible, and will therein give you full details of the expenditure out of the moneys at credit of this fund. These, in conjunction with the statement of account already gazetted (a copy of which has been laid before you), render it quite unnecessary for me to go into any elaborate review in this place of the transactions within the fund. I may mention, however, that we received during the year the sum of £1,000,513 19s. 2d. from the sale of debentures under the authorising Act of 1900, and £1.062,666 13s. 4d. from the sale of stock and debentures issued under the Act of 1901. Besides the half-million transferred from the Consolidated Fund, moneys amounting to £1,615 12s. 2d. were received in connection with the Ellesmere and Forsyth Eeclamation and Akaroa Eeclamation Trust. These figures, added to the balance brought forward at the commencement of the year, amounting to £232,515 18s. Id., produced available ways and means for the year of £2,797,312 2s. 9d. The ordinary expenditure amounted to £2,143,252 14s. 9d. £200,000 in respect of advances obtained during the preceding year were paid off, thus leaving a balance in the fund at the close of the year of £454,059 Bs., which will be supplemented by the balance of the million loan to be received during the current year, roughly estimated at £100,000. I shall have something to say about the increased public-works expenditure when I am dealing with the proposals for the current year.

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LAND FOE SETTLEMENTS ACCOUNT. Full particulars connected with the receipts and expenditure within this account will be found in Table No. 1, which is appended hereto, and my colleague the Minister of Lands will supplement this information in his annual report to be laid before Parliament. THE CONVEESION ACCOUNT The transactions in this account were not very numerous or large. £324,900 of debentures were converted into 3-per-cent. Inscribed Stock, and £51,330 of debentures were paid off. NEW ZEALAND CONSOLS ACCOUNT. The operations in this account during the year were small, only £8,935 being deposited. Probably these restricted operations arose from the better rate of interest obtainable from investments in other Government securities. We may therefore look for larger deposits during the current year, when Government debenture securities are not likely to yield the investor quite as much as they did previously. THE LOANS TO LOCAL BODIES ACCOUNT. The transactions within this account have been numerous and large. Local authorities have been anxious to avail themselves of the very low rate at which they can obtain loans for public works, and a glance at the account, as exhibited in Table No. 1 herewith, will show how freely advantage has been taken of the opportunity of obtaining loans at the low rate of 3 J per cent., including sinking fund. The necessity for drainage-works imposed upon local bodies in the interests of public health, and the building of abattoirs, has compelled many local authorities to ask the Government to assist them by loans of cheap money. Up to the 31st March last the total amount of debentures created and issued and carried into this account was £1,744,100, and the total disbursements have been —to local bodies, £1,347,028; to Lands and Survey Department towards opening up blocks of land for settlement, £314,385; and to Public Works Fund, £89,800, in exchange for debentures under " The Eoads and Bridges Construction Act, 1882." In anticipation of " The Government Loans to Local Bodies Act Amendment Act, 1898," being repealed on the Ist April last, numerous applications for loans of large amounts have been received for the construction of waterworks. This accounts for the amount of grants far exceeding those of any other year since the Government Loans to Local Bodies Acts have been in force. Applications for loans under " The Public Health Act, 1900," for drainage and sanitary works, and also under " The Slaughtering and Inspection Act, 1900," for construction of abattoirs, are constantly being received. These grants, although proving of great benefit in respect of the public health, tend very materially to swell the amount it becomes necessary to borrow in order to provide loans authorised by these Acts. I deem it right to mention that, as the applications for loans from the Treasury have now reached such large figures—of late years they have more than doubled—it is quite clear that local authorities must be content with the existing borrowing-powers, and must not ask the Government to increase their facilities for obtaining money grants for local purposes. The balance at credit of the Loans to Local Bodies Account on the 31st March, 1901, was £27,973. Debentures for £213,200 were created and issued during the past year, and refunds of unspent balances of grants were received amounting to £2,107. Payments on account of loans were made during the year —to local bodies, £208,5H1, and towards opening up blocks of land for settlement, £31,979 —leaving at the end of last year a balance of £2,770 to the credit of the account.

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THE PUBLIC DEBT. The gross public debt on the 31st March, 1901, was .£49,591,245 ; on the 31st March last it was £52,966,447, or an increase of £3,375,202 for the year. The net public, debt on the 31st March, 1901, was £48,557,751, and on the 31st March last it was £51,837,631, or an increase of £3,279,880 for the year. The figures for the year were abnormally increased by the million really belonging to the preceding year's transactions, and by the necessity for providing money to pay for the purchase of lands acquired under " The Land for Settlements Consolidation Act, 1900." These two parcels of loan moneys amounted to £1,897,150. Reducing this amount by £350,000, representing the excess loan money for land-settlements purchase, the increase may be set down at a little over £1,800,000. It cannot be too often emphasized that we must take into consideration that our national debt is added to every year by loans which are of a directly remunerative character, and that the interest payable in respect of them is immediately recouped and is not made a burden upon the taxpayers : in this connection ,£500,000 of loan was obtained for the Advances to Settlers Office, £213,000 for loans to local bodies, £897,150 to acquire lands for close settlements, and £8,935 for deposits in our New Zealand Consols. These loans, which do not impose a burden on the taxpayer, amounted to no less a sum than £1,619,285: of this sum £340,000 were used to pay off advances previously obtained. £2,250,000 were raised under the Aid to Public Works Loan Acts of 1900 and 1901, and £200,000 of previous advances were paid off. £57,000, proceeds of sinking fund accretions debentures, were obtained, and the debt was further added to by £7,917, arising out of various conversion operations. £19,000 of " Land for Settlements Act, 1900," debentures were paid off. £250,000 of debentures issued under " The Aid to Public Works and Land Settlement Act, 1896," fell due on the Ist February last, and were converted into 3-per-cent. Inscribed Stock. OUE LATE LOAN TEANSACTIONS. " Our loan transactions last year were heavy, for we had to bring into the year 1901-2 loan moneys amounting to one million which really ought to have been raised in time to be included in the transactions of the year 1900-1, had the condition of the British money-market been favourable. " The Aid to Public Works and Land Settlement Act, 1900," authorised the raising of £1,000,000 ; but after the authority had been obtained the value of gilt-edged securities on the London money-market fell very considerably, a.nd our financial advisers did not think it would be wise to go upon the open market. In March, 1901, an offer to place £500,000 was made and accepted. The purchase-money (at par) was placed to the credit of the New Zealand Public Account on the Ist of April following. Currency was for two years, and rate of interest 4 per cent. ; the debentures to be convertible, at the option of the holders, at any time during their currency, into 3-per-cent. stock at 103. The price obtained was lj per cent, better than a very much older colony was able to get at about the same time. In my colleague's Budget of last year particulars of the raising of the second moiety of the 1900 loan were given at some length. Under the authority of " The Aid to Public Works and Land Settlements Act, 1901," the Government determined to place upon the London moneymarket one million of the loan so authorised, together with half a million authorised by " The Government Advances to Settlers Act, 1894." Applications were therefore invited by the Bank of England in November last for the purchase of 3-per-cent. Inscribed Stock to the amount of £1,500,000, the price of issue being at £94 per cent., and the first dividend to be for a full six months' interest, payable Ist April, 1902. The loan was underwritten at the market fee of 1 per cent. The applications were to be accompanied by a deposit of £5 per cent., and further payments were to be made of £19 per cent, on 6th December, 1901;

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£25 per cent, on 21st February, £25 per cent, on 21st March, and £20 per cent, on 21st April, 1902. The instalments might, however, be paid in full on or after the 6th December, 1901, under a discount at the rate of £3 per cent, per annum. The Government were disappointed that the public applications did not fully cover this loan. The causes, however, are not far to seek. The times were dull, and the money-market was loaded with undigested stock of other colonies, in addition to which the Imperial Government were issuing loans, and the money-market was holding off for bargains. The chief consideration with us, however, was to secure the best price, and it was felt that the underwriters would take care to see that the bond fide investing public would apply as freely as possible. Having regard to all the circumstances telling against a successful flotation, the colony is, I think, to be congratulated at obtaining such a price as 94, for I am able to say that had the money-market been approached in the usual manner the issuing-price which would have been named, even with easy terms as regards payment of instalments, would have been not much, if at all, over 92. Although the public did not come in and take up the whole loan, it is satisfactory to know that there were no less than 519 applications, all from bond fide investors —a result which compares very favourably with previous loans. " The Aid to Public Works and Land Settlement Act, 1901," authorised the raising of £1,250,000, of which £1,000,000 were raised in London, as I have just described. With regard to the remaining £250,000, my colleague was advised to offer it for Treasury over-counter sales at 4 per cent., making the currency three years. This method of issue proved very popular, and was availed of to the extent of thirty applications, extending over a period of five months. As in the case of the local half-million loan issued under the Act of 1900, purchasers had the option of having the debentures domiciled either in this colony, Sydney, Melbourne, or London. Five parcels were made payable in Sydney, three in Melbourne, and two in London. The largest amount purchased was £150,000, and the smallest £100. The Government having decided to acquire large areas of land during the year for close settlement under the provisions of " The Land for Settlements Consolidation Act, 1900," it became necessary to finance in advance so as to have funds available for the purchase of estates in spot cash as soon as the conditions of purchase became completed. Treasury over-counter sales being successful, it was determined to issue three-years debentures at the rate of 4 per cent, per annum from date of lodgment of the purchase-money, the debentures having similar provisions respecting domicile of principal and interest to the debentures issued under the Act of 1901. These over-counter sales continued throughout the year, and have been largely taken advantage of. We sold £879,150 of debentures by this means without commission, advertising, or other usual flotation expenses. Fifty-six purchases were made, in sums ranging from £125,000 to £100; four parcels being made payable in London, eight in Sydney, and nine in Melbourne ; sales being at par, except in one case, where one-quarter per cent, premium was paid by the purchaser. With the advent of peace I anticipate a much easier money-market. Prices of our stock in London have already gone up appreciably, and when the Imperial authorities have placed their next loan I am of opinion that rates for money will drop. Under these circumstances I have discontinued the issue of 4-per-cent. debentures for these over-counter sales, and am substituting a 3|-per-cent. rate instead. Of course, this rate of interest will not be so popular, and diminished sales may possibly result. GOVBENMENT ADVANCES TO SETTLEES OFFICE. The business done during the past year was a little less in volume than in the previous year. For the sixth year in succession the Department is able to say that on the 31st March last no sum of either principal or interest was outstanding in respect of the year ended 31st March previous; and on the same date (31st March last) it had no properties on its hands.

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Since the establishment of the office a sum of £96,000, representing the 1-per-cent. sinking fund, has been paid to the Public Trustee to provide for the redemption of loans forty-three years hence. There has also been paid during the past year to the Public Trustee a sum of ,£23,000 to credit of an Assurance Fund (the balance of which is now £43,000) to provide against losses, of which none have yet been charged to the fund. The cost of raising loans has been written off to the extent of £30,000 out of profits. This amount, it will be found, is a fair proportion of the total sum charged under the heading " Charges, Expenses of raising Loans to 31st March last," chargeable to the seven years the office has been in existence, bearing in mind that as the mortgage-advances approach maturity the periodical instalments payable contain more principal and less interest. Some honourable members are inclined to think the Department has erred on the side of caution, but I agree with my colleague the Colonial Treasurer in considering that the Board is bound to exercise the utmost prudence and care in the investment of its funds. That the operations of the office have been successful even beyond expectation cannot be gainsaid. To this success the era of prosperity which has prevailed since the inauguration of the scheme has no doubt largely contributed, but prudent administration is also entitled to a fair meed of commendation. VALUATION OF LAND DEPARTMENT. The operations of this Department, round which a very fierce light generally shines, have been continued during the year, and the time is now within measurable distance when the values all over the colony will have been dealt with. Eeference to a Gazette issued prior to the 31st March will show the districts which were revised last year During the coming year it is intended to devote attention chiefly to the large cities and towns. The amounts chargeable to local authorities under the regulations issued last year have been somewhat reduced, and a better understanding now prevails on the subject of the cost and of the valuations generally. I am. aware that complete accord does not yet prevail, but it would be nothing short of miraculous should such a condition of affairs exist when the nature of the operations of the Department comes to be considered. The Department is, however, under the guidance of my honourable colleague, gradually winning its way into popular favour, so far as that is possible. THE NATIVES AND THE MAOEI COUNCILS ACT. I am glad to announce that a brighter page is unfolding for the Native race of this country. The last census shows that not only has their decadence been arrested, but that improvement has set in, and in many districts an increase in their numbers is observable. Their own capacity for advancement, in which lies their future hope, has been fully demonstrated in the excellent and effective manner in which they have administered and carried out the principles of local self-government conceded to them. Under " The Maori Councils Act, 1901," their social condition is improving, their villages and homes are brought under inspection, and regulations are made for insisting on a higher and purer standard of housing, of food and water-supply, of sanitation, and other health considerations, all of which are being done by themselves. I have every hope, strengthened by these facts, that the extinction of the race, which has so often been predicted, is not to be, but that the Native race will rise to high development. The different Native centres of the colony, especially Upper Wanganui, the East Coast, Bay of Plenty, Waikato, and Te Kuiti, have been visited during the recess by the Native Minister. Large meetings were held to discuss the objects and principles of the Maori Lands Administration Act, which constitutes a new departure in the administration of the Native lands more in keeping with the genius of the Native race and the requirements of the times. Great care and much time were necessary to instil into the Native mind a full understanding of the public policy involved, the new

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method of administration, and the machinery needed to give effect thereto. It is satisfactory to be able to say that the influence of the Minister among his people is producing most satisfactory results. In many cases deep-rooted prejudices have been overcome, and ignorance dispelled. Elaborate explanations have been given on every point or matter arising out of the consideration of the subject. The results have justified the patient steps which have been taken in securing the voluntary acceptance of the new law by the Native landowners. Large areas in the several districts have already been, and are now being, transferred to the Maori Land Councils for administration under the Act, which lands will be cut up and thrown open for settlement upon terms advantageous to both races. LAND FOE SETTLEMENTS. Including five estates on hand at the beginning of the financial year, twenty-eight estates, comprising 114,672 acres, were committed to the control of the Lands and Survey Department during the year, and of these, eighteen, containing 85,023 acres, were thrown open for selection, with the result that 69,929 acres were selected by 230 persons up to the 31st March last. The principal properties dealt with were the Hatuma (compulsorily acquired) and Manga-a-toro in Hawke's Bay, and the Glenham Estate in Southland. Four estates were opened under the workmen's homes system with fair success. The result of the year's operations is very satisfactory from a settlement point of view. The number of estates which have been placed on the market since the initiation of the land-for-settlements policy is ninety-seven, comprising 418,720 acres. The number of tenants is 2,033, occupying 386,529 acres, and paying £101,057 14s. annual rental. I have much pleasure in stating that the progress of the settlers generally is most satisfactory, and it is not too much to claim that the result of the policy has been of immense benefit to the selectors and their families, and to the colony at large. CEOWN LANDS AND SETTLEMENT. Land-settlement has been developed as far as practicable, though necessarily the failing supply of suitable Crown lands, and the great difficulty of extending roads into the more distant and inaccessible portions of the colony, tended to limit the actual area taken up and occupied under the various systems of the Land Act. Notwithstanding these drawbacks, 2,159 selectors took up 1,094,086 acres, of which 572,050 acres are comprised under pastoral runs, the greater portion of the balance being allotted mainly under the residential and improvements conditions of the Act. The land revenue collected by the Department amounted to £427,138, including £249,619 under the heading " Territorial." The total number of Crown tenants on the departmental registers is 18,521. Nothing can be of more importance to the colony than the well-being and prosperity of the land-holders, whether under the freehold or various leasehold tenures. It is satisfactory to note that the reports of the Land officers throughout the colony testify on the whole to the general improvement and increased productiveness of the Crown tenants' holdings. No efforts will be spared on the part of the Government to do all that is possible to aid and encourage the small settlers until they shall have attained an assured position. FOBESTS AND PLANTATIONS. In pursuance of the decision of the Government that the remaining areas of forest in the colony should be conserved and dealt with in a systematic manner, the Government have under consideration the whole question of how best to deal with this important matter. Special attention is being given to

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the reservation of all forest upon the mountains and higher table-lands, to insure the maintenance of rivers and streams, the gradual distribution of rainfall, the protection of the surface of the country from degradation, and the prevention of the destruction of lands in the valleys or their deterioration by the deposit of detritus, whilst maintaining the climatic equilibrium, protecting the native flora and fauna, and doing all that is possible to preserve the beautiful scenery for which the colony is famed. On a smaller scale scenic effect is being attended to by the reservation of forest lands in gorges and on river-banks and the higher portions of the colony, so as to preserve all places of natural beauty which serve to make New Zealand attractive, especially from a tourist point of view. The additional area reserved daring the financial year amounted to 195,587 acres, making a total area set aside of 2,552,067 acres. The revenue derived from the State forests during the year was ,£17,188, and the expenditure ,£10,334. The latter was chiefly devoted to the maintenance and extension of nurseries for the growth of trees for planting out upon selected areas. Additional information has been obtained as to the area of the remaining forests suitable for milling purposes, and a rough estimate has been made of the quantity of kauri and other timbers in the Auckland, Poverty Bay, and Westland districts, which, though more satisfactory than previous estimates, points to the conclusion that in a comparatively few years' time the great natural resources of the colony as represented in its wealth of forest .will fall lamentably short of requirements. In consequence the Government have in contemplation a large expansion of tree-planting operations ; and it is fortunate that we possess a large area of land in the central districts of the North Island which, though not well adapted for agricultural and pastoral purposes, is believed, as the result of trial plantations, to be well suited to the growth of vast forests of specially selected and valuable trees. The rapid growth which fortunately attends operations of this character in New Zealand indicates that, if the work is taken up with energy and carried out under the best expert advice, the colony would, in a comparatively short time, be in a position to maintain its timber-supplies for home and export purposes, and thus sustain the many industries dependent thereon. THE HEALTH DEPAETMENT. Although we have not been successful in preventing the occurrence of plague in the colony, yet I am glad to say the Health authorities have in each instance been able to so circumscribe the sphere of action of these cases that nothing in the nature of an epidemic has taken place. A system— upon which we are to be congratulated —has been arranged whereby the interference with trade consequent upon the usual quarantine regulations has been avoided, and a greater measure of safety against the introduction of infectious disease has been effected. The provision of hospitals for the reception of infectious diseases generally has at last been put upon a sound footing, the various local authorities having joined hands at the instigation of the Department. The unprotected state of our children against small-pox is a matter for' the very greatest regret. Provision has been made for the supplying of pure calf-lymph free of charge to all; and it is to be hoped that all parents will see their way to take full advantage of the assured purity of the lymph and the increased facility offered to have their children vaccinated. The constant intercommunication with countries infected with small-pox is an element of great danger. A systematic examination of the various foodstuffs is now being made, and already several prosecutions have taken place. We have been negotiating for the purchase of land and buildings for use as sanitoria for the scientific treatment of that greatest scourge of modern times, consumption. lam happy to say that negotiations have been brought to a close by the purchase for £4,000 of a property near Cambridge consisting of 1,000 acres of land, together with a residence containing twenty rooms. We may congratulate ourselves upon this purchase, which will be found most suitable in ii—B. 6.

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every way, and will be put to use without delay. I hope soon to complete arrangements for the establishment of another Sanatorium in the South Island. Several serious outbreaks of infectious diseases have been investigated, and a great deal of scientific work, having for its object the combating of preventable diseases, has been undertaken. The aim of the Department has been to lead public opinion wherever possible, and to coerce only when by no other course could the general safety of the colony be assured. THE TOUEIST DBPAETMENT. The Tourist Department was brought into existence in February of last year, primarily to develop the exceedingly valuable asset which the colony possesses in its natural scenery and thermal wonders, to bring these and the advantages of the colony generally more prominently under the notice of tourists, investors, and probable settlers ; also to give to travellers, residents in the colony, and inquirers abroad reliable information regarding the colony. Although not a direct revenue-producing department, it is hoped that as a result of its establishment the stream of tourist visitors will be considerably augmented and thereby increase the wealth of the colony by the money which will be spent in travel and accommodation. The revenue of the Railway, Post and Telegraph, Customs, and other departments will increase with the tourist traffic. The tourist and health resorts of Rotorua, Hanmer, Mount Cook, &c, have been placed under control of this Department. The receipts from these resorts for the past year amounted to ,£5,491, giving an increase of =£1,311 over the previous year. The Balnealogist has commenced his duties, and I feel quite sure that health-seekers and the general public who visit our thermal districts will be greatly benefited by his researches and advice. OLD-AGE PENSIONS. Last year the estimated amount required for old-age pensions was 56215,000, while the amount actually paid was £207,468. It is estimated that £215,000 will be sufficient to meet all claims this year. In his last Statement my colleague drew attention to the necessity for carefully guarding against imposition, especially on the part of those who act for Native applicants. During the year careful inquiries have been made into suspicious cases, with the result that a number of certificates improperly obtained have been cancelled. To further safeguard the Department a Bill will be introduced this session giving Magistrates greater powers in dealing with cases of fraudulent misrepresentation. As honourable members are probably aware, the two largest States of the Commonwealth have, by inaugurating old-age-pensions schemes, followed New Zealand's humane action of 1898. That those who during many years have helped to bear the public burdens and by their labour have played an important part in the building-up of a country should be allowed to claim State pensions as a right in their necessitous old age few, I think, are now prepared to deny ; and the recipients are grateful to the Legislature which has enabled to thus secure them independent means. LAND-TAX AND INCOME-TAX. The revision of land-values has been continued during the year, and, as a result of the year's work, I anticipate a further increase of £12,000 in the landtax receipts. The activity of the land-market, and the prices readily obtainable for land in most of the districts of the colony, justify the opinion expressed last year that the land-tax revenue would increase year by year until the valuations were finished, I estimate this year's revenue at £300,000. The increase is the more satisfactory as it has been obtained notwithstanding the acquisition by the Crown of many taxable estates for the purposes of "lose settlement.

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As regards the income-tax, I do not apprehend that the steady increase which has continued since its inception will be checked. I place this increase, however, at the moderate sum of £6,000, raising the estimated receipts to £185,000, which, with, the £300,000 of land-tax, makes a gross total of £485,000 —a sum greater than has ever been received from direct taxation. The buoyancy of the revenue under this heading proves conclusively the prosperous condition of our farmers and the productiveness of our soil, and, further, the soundness of business generally, as evidenced by the increasing profits of our merchants and others who contribute to the income-tax. GOLD-MINING. Gold-mining continues to make steady progress throughout the colony. Although there has been a decreased yield from some of the quartz-mining districts, this is more than compensated for by the steadily increasing yields from the Ohinemuri and Eeefton districts. The returns from alluvial mining and gold-dredging are still on the increase. During the past few years a large area of ground abandoned by the early goldminer has been taken up for dredging, and is now adding its quota to the wealth of the colony. Many of the companies which were floated daring a period of excitement have been liquidated, and the industry is now on a more stable basis. The anticipation in the last Statement that the yield of gold would exceed that of the previous year has been realised, as the gold exported for the year 1901 was the highest since 1873. PEOCLAMATION OF EIVEES AND STEEAMS. The proclamation of rivers and streams as watercourses into which tailings and mining debris could be discharged has been proceeded with as fast as circumstances would permit. The number of rivers and streams proclaimed during the year 1901 was thirteen, making a total of 136 now under the operation of the Mining Acts. STATE GOAL-MINES. In accordance with the decision of Parliament at its last session to establish State coal-mines, prospecting operations have been carried out on a portion of the land formerly held under lease by the late Westport- Cardiff Coal Company (Limited) at Seddonville. £t affords me pleasure to state that these operations have so far proved satisfactory. The coal leases formerly held by the Greymouth-Point Elizabeth Eailway and Coal Company, and the partially constructed railway, have been acquired by the Government. Prospecting operations for the purpose of furnishing data for the development of this property have been commenced. In the laying-out and working of the State collieries due consideration will be given to safety, economy, and the efficient extraction of the coal with the least possible waste. To insure this, it is absolutely necessary for the mines to be opened out on a systematic and comprehensive plan. OVEE-SEA TEADE. In March, 1901, a Trade Eepresentative for our colony was appointed, with instructions to proceed to South Africa, United Kingdom, India, China, and Japan, to report on the markets of those places, and advise the Government as to the possibilities of extending the colony's trade in those directions. Interim reports are to hand containing valuable information, and it is expected that from the information received good practical results will follow. The departmental report will contain full details. Tenders, closing on the 14th February, were invited for a steam service to South Africa, but unfortunately only two tenders were received; these tenders were practically counter-offers. As neither was on the exact lines of the

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specifications, unavoidable delay has resulted. The first and second proofs of the draft of the contract have been received, and have been carefully considered. Suggested alterations and amendments have been cabled to the Agent-General, and I have every reason to believe that the contract for a very satisfactory service will be signed almost immediately. Arrangements are being made by which a weekly report of prices current for produce in London will be cabled direct to the Department of Industries and Commerce. These reports will on receipt be promptly circulated throughout the colony. The House will be asked to make provision this session for the appointment of three Trade Eepresentatives—one in South Africa, one in Great Britain, and one in Australia. Their services can also be availed of for the purpose of helping the tourist traffic to our colony, particularly from England and Australia. RAILWAYS AND EOADS CONSTRUCTION. Substantial progress has been made with the several railway-construction works in hand during the late financial year, the expenditure thereon having been greater than for many years past. The expenditure during last year practically absorbed the whole amount voted for the purpose, the unexpended balance on the vote being only £813. I am not aware of any precedent for the expenditure on railway-construction so closely approximating to the amount voted for the purpose. An examination of the votes and expenditure for railway-construction purposes during the last twenty years shows unexpended balances at the end of the year ranging from £16,931 to £751,441, the smallest being in 1895-96, and the largest in 1884-85. Honourable members will recollect that the total of the detailed authorisations was £602,024, but the amount voted for expenditure during the financial year only amounted to £561,524. The progress made was especially marked in the case of the trunk lines, as is shown by the following table, giving particulars of the actual amounts voted for same, and the amounts expended thereon—first exclusive of permanent-way materials, and secondly with the value of the permanent-way materials issued to the line added : — Expenditure on Actual Expenditure Construction Line of Railway. Amount f qq with Value of v °* Construction. Permanent-way vote. Materials added. £ S £ North of Auckland ... ... 27,980 27,545 41874 • North Island Main Trunk Railway ... 149,236 155,979 184,561 Blenheim-Waipara ... ... 41,973 48,382 65824 Otago Central ... ... ... 93,271 93,779 103,273 The North of Auckland line includes both the Whangarei-Grahamtown and the Helensville Northwards Eailways. Similarly with regard to the construction of roads under the Department of Eoads and Bridges. I find that £337,643 was voted, and £338,669 was spent. My colleague was therefore obliged to ask for authority to charge "Unauthorised" with £1,026 to cover the excess of expenditure which has taken place. The work done comprises 579 miles of engineering survey 527 miles of dray-road, 268 miles of bridle-track, and 134 bridges (of a total length of 13,221 ft.) constructed; also 793 miles of dray-road and 83 miles of bridle-road improved, and 2,578 miles of dray-road and 1,247 miles of bridletrack maintained. In addition to this sum £47,906 was spent by the Mines Department for roads on goldfields, or a total expenditure (including cost of supervision) upon roads and bridges of £406,108. WORKING RAILWAYS. I desire to offer a few remarks concerning that great national asset, the railways. People have become so accustomed to the daily running of the 'railway system of the colony that very few take the trouble to institute a comparison between the present means of locomotion and those which existed prior to the

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establishment of the railway service. The enormous indirect value of our railways is not appreciated to its full. I have been at some pains to ascertain what was the cost by road and by rail of the conveyance of passengers and goods at two different periods —viz., 1875 and 1897. The information 1 have obtained shows that the rates now ruling for road carriage in those portions of the colony not yet served by railway vary but little from the rates ruling for road conveyance in the early days of the colony, and they are still from twice to three times as high as the existing railway rates for similar distances. In 1875 passenger rates were, for sixty-six miles, by road, £1; by rail for the same distance and between the same points they are now only ss. 7d. The road rates in this case were thus 258 per cent, greater than by rail. If similar road rates were now charged on railways the charges to passengers for using our railways would be £1,602,229. Goods were charged £5 2s. 6d. per ton, against £1 10s. Id. per ton respectively, or 241 per cent, more by road than by rail, and goods would cost for their carriage £2,676,485. The total cost for conveying passengers and goods being £4,278,714, from which deduct £1,250,000 for railway expenses, we obtain a balance of £3,028,714. This amount capitalised at 3 per cent, produces £100,957,133, which are huge figures. In 1897 the passenger rates were, for thirty-four miles, by road, 12s. 6d. ; by rail between the same points they are now 2s. lid., or 329 per cent, greater by road than by rail. If similar road rates were now charged on railways it would cost passengers £2,043,152 for the same distance. Goods were charged £2 ss. per ton, against 17s. 9d. per ton by rail, or 154 per cent, more by road than by rail; and under the same circumstances the cost of conveying goods would be £1,710,285. Continuing these results, and setting down the gross O'ist for carrying passengers and goods, as above, at £3,753,437, from which again deduct present railway expenses, £1,250,000, we obtain a balance in favour of the users of our railways of £2,503,437, which, capitalised at 3 per cent., gives £83,447,900. I have shown only for the purposes of comparison what capitalisation on a 3-per-cent. basis of the saving of both periods, 1875 and 1897, would be to the users of our railways. Our products are now being carried at far less than one-third the cost of land carriage by road-wagon, and our passengers at from one-quarter to one-sixth of the coaching-fares, and with vastly better accommodation, to say nothing of the saving of time and increase of comfort. The value to the country of its railways to-day is more than sufficient to cover our national debt. With regard to those who would starve the open railways, and who allege that all additions to open lines should be paid for from revenue: are these critics aware that for the fourteen years ending 1900 the railways of the United Kingdom increased their capital account by £348,000,000, and their mileage by 2,523 miles only, so that at least £300,000,000 was spent on improvements and additions to existing lines, charged to capital account during the fourteen years, or more than 25 per cent, of the total capital ? Thus, during some fourteen years at the same rate, New Zealand, to compare, would have spent over £4,000,000 of capital on improvements and additions. As the business of the colony increases, capital must be found to provide and work the railways so as to stand the strain of congestion. Working-expenses cannot, and should not, do so. The Railway Statement, already placed before honourable members, contains many interesting details. I desire merely to direct attention here to the growth of traffic in a few items only. Taking the years 1895 to 1902,1 find that the passenger traffic has increased by 3,450,558; sheep by 1,204,939; goods by 1,480,786 tons; and the revenue from £1,150,H5l to £1,874,586, an increase of £723,735. The expenditure for the same period has increased £520,077. The number of employees has increased from 4,957 to 8,313. The increase of traffic during the eight years represented by the figures quoted above is quite unprecedented in the history of car railways,

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and is all the more remarkable when considered in conjunction with the very liberal concessions in fares and freights made by the Government during the period in which the lines have been under their control. These reductions are estimated to have amounted to £470,000 up to the 31st March last, truly a stupendous amount to have given away in concessions by way of reductions to the users of the State railways. Train services have been materially improved, and additional facilities afforded for travel, the cost of providing which has amounted to a large sum annually. As the same healthy trade and labour conditions still prevail throughout the colony —the prosperity of which is, lam glad to say, unimpaired—l confidently anticipate that the results of working the railways during the financial year will be satisfactory. MOETGAGB-TAX. Honourable members will recollect that my colleague intimated, some time ago, the intention of the Government to reduce the mortgage-tax as soon as practicable. It will generally be conceded that any relief in this direction must tend to bring about an easing of the local interest-market—a result in which the Government, as well as private borrowers, are much interested. There is no good reason why in the course of time the ruling rate for issue of Government loans in the colony should exceed 3 \ or even 3 per cent., and every relief given to lenders will tend to bring this about. As a step in this direction I am glad to be able to say that it is our intention to concede a reduction of 25 per cent, off the mortgage-tax, equal to £25,000. I trust that honourable members will recognise that this abatement is a very substantial instalment towards the end which I have just indicated. EAILWAY EEDUOTIONS. It is with a great deal of pleasure that I intimate that the Government has decided to make further reductions this year upon wool freights and passengerfares ; also in rates for small lots of dairy produce, butter, cheese, eggs, bacon, poultry, and honey; in the minimum of artificial manures from 30 cwt. to 5 cwt. ; and in the extension of period of free return of stud horses, cattle, and sheep. •These concessions represent in round, figures a reduction in rates of at least £40,000 per annum. The chief direction that the passenger reductions will take will be for long-distance fares. It will generally be recognised that those who wish to travel the greater distances upon our railways should have some inducement held out to them to do so ; this, as a matter of business, is the correct policy to adopt. It is proposed to keep the universal system of charging that now prevails upon our railways in operation, with this material alteration: that after fifty miles the charge will be reduced, both for first and second class, by Jd. per mile for distances of fifty-one to a hundred miles, and then a further reduction of per mile for all distances of 101 miles and over. This is a very material reduction. I first contemplated a still further reduction of the long-distance fares, but I feel that as a matter of prudence it is desirable to give a reasonable trial to these amended rates and obtain the practical result of their working before going further —a course which will, I think, commend itself to those who think the matter out impartially. I am confident that these alterations, which are quite independent of the popular excursion rates (which will still be continued), will be appreciated by the public generally, and I have little doubt that the increased number of people who will avail themselves of train-journeying will make up for the reductions of the fares at a very early date. I do not anticipate, judging by the additional traffic which the former reductions in fares have brought to our railways, that the loss in this respect will be long continued; on the contrary, I expect to see the revenue increased from it rather than.otherwise within a reasonable time. EASY TEEMS FOE BDSH SETTLEMENT. In order to assist settlement it is proposed to introduce a Bill this session providing that in all future disposal of bush lands on settlement conditions the selectors, upon payment of the first half-year's rent, will not be called

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upon to make further payments of /rent for the period of from two to four years of their leases, according to the expense of clearing, the rents remitted being capitalised and interest charged thereon for a period of ten years from the date that the rent became payable. CONCESSIONS. For the information of those who take an interest in the concessions that have been made by the present Government since they have been in power it may be convenient to state them, including the reductions proposed in this Budget. Naming only four heads of revenue, the concessions are as follows: Railways, £510,000; mortgage-tax, £25,000; Customs, £738,000; Postal and Telegraph, £181,000: or a total of £1,454,000. As the whole of the land and' income tax collected in the colony in its highest year amounted to £492,000, some idea of the value of the concessions that have been given to the people of this country may be gauged from the foregoing figures. It certainly gives a flat contradiction to those who have declared that the burdens of the people have been added to by the present Government. The facts show quite the contrary, and I am quite confident that the people themselves are fully alive to the many advantages which have, by way of concessions, been conferred upon them, and which form but a portion of a policy that has in other ways done much to help them to more readily carry on the industries in.which they are engaged. CONCBENING OUE PEODUCE. The export of dairy produce is steadily increasing, and it is pleasing to note that the quality is acknowledged by the trade to be amongst the best imported into Great Britain. The frozen-meat market has been fairly good. Prices for wool have been extremely low, and considerable losses have resulted to exporters, but lately there is a decided upward tendency in the market. The harvest was a wet one, and in one or two localities portions of the crops were damaged; prices, however, are good, which will help to make up for the loss in quantity. The export of poultry to South Africa is new, and with a direct steamer service should increase to considerable dimensions. This branch of the work of the Department is making rapid strides, and it was impossible to cope last season with the demand for eggs and birds. Farms are now established at Ruakura, Momohaki, Burnham, and Milton, in the Auckland, Wellington, Canterbury, and Otago Provincial Districts respectively; also depots for the dressing and packing of poultry for export at Auckland, Wellington, Christchurch, and Dunedin. To meet the general wish of the settlers in the Waikato an experimental farm has been established at Ruakura, near Hamilton. Some 600 acres were purchased, to which a reserve that was vested in the Waikato County Council for the purpose of a model farm has since been added. The soil is in every way typical of the Waikato lands, and should in a few years, after it has been worked up, prove of great assistance to the settlers in determining the most suitable crops to grow. Arrangements are being completed to start the dairy school at Weraroa Farm, Levin. A considerable area of the farm has been cleared and stumped to enable the necessary cultivation to be carried out to provide fodder for wintering the cows successfully. The question of securing a suitable site in the Middle Island for one or two farms is receiving attention. At Wairangi, where the soil is of the poorest description, the growing of vines has been successfully demonstrated, and the vintage, both last season and this, is very encouraging. A further area of 700 acres has been secured for the purpose of planting with fruit-trees and vines. This it is proposed to lease in small areas to practical settlers on easy terms.

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FINANCIAL YBAE, 1902-3. Honourable members will be anxious to hear what our financial position is likely to be during this current year. I shall, therefore, without further preamble, give a forecast to the best of my ability. Expenditure. In framing the estimates for the present year I have been confronted with a task of considerable magnitude. The progress and prosperity of the country have made such strides that, as a corollary, we find demands being made for greater assistance, larger and increased facilities, and from all quarters applications, to Government departments which involve an increased expenditure of public moneys. As I have already said, the task of framing the estimates of expenditure has been by no means light, but I have insisted upon the most rigid economy being observed; and, although the total is large, I am quite satisfied that honourable members will find that if legitimate demands have to be met I am not asking for too much. The total estimated expenditure out of our ordinary revenue account is set down at £5,987,063, which is £91,149 in excess of last year's expenditure, and £88,361 more than last year's estimate. I append a table which gives in a concise form a comparison of the various heads of expenditure, with the actual figures for last year for similar services. I shall, however, as briefly as possible explain to you some of the principal differences between this year's estimate and last year's expenditure. Interest and sinking fund have increased by £89,000. The large amount of additional loan-money is responsible for this. Next we have an increase in the permanent charges under various Acts ; this amounts to £26,000. Out of this £21,500 have to be provided for the Australasian -Naval Squadron contribution, £8,000 for old-age pensions, and £4,000 for subsidies to local authorities. On the other hand, there is likely to be a saving of £5,000 in respect of subsidies to hospitals and charitable institutions, £2,000 on payments to the Westport Harbour Board on account of its endowments, and. £2,000 on " thirds " and " fourths " payable under the Land Act. Under the permanent charges we have thus some £116,500 of the total increase accounted for. In connection with the annual votes of Parliament there is much variation. Out of nineteen classes eight show a decreased expenditure amounting to £96,000, and eleven departments are obliged to ask for increases amounting to £74,000. A much larger decrease than £73,000 would have been made in the Colonial Secretary's Department had the necessity not arisen of providing £25,000 for expenses of the general elections. Eigid economy has cut down the expenses of the Customs, Marine, and Agricultural Departments by £15,000. The Defence Department is also reduced by £4,000, but until the Report of the Commandant has been received by my colleague and laid before the House it is not possible for me to say what further amount may be required. Turning now to the estimated extra expenditure, the Postal and Telegraph Department asks for £14,000. The large increase of the business in both branches of this service, the progress of settlement, and the consequent demand for increased facilities produce increased expenditure, and, like the Working Railways, it is a department which necessarily incieases with the progress of the country. For education an increase of £27,000 is asked for, and although our expenditure in this direction considerably exceeds half a million I am quite satisfied the money is being spent upon a purpose which commends itself to every rightfeeling colonist. I have endeavoured to keep down the Working Railways expenditure as low as is consistent with the prudent running of our trains, and it must always be borne in mind that the more money earned by our railways the more proportionately must be the expenditure. The increase for this year I have named as £19,000. About £14,000 covers the excesses in other departments.

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ESTIMATED Expenditure of the Consolidated Fund (Revenue Account) for 1902-3, compared with Actual Expenditure of 1901-2.

Revenue . I anticipate a revenue for the year ending 31st March next of £6,026,000, to which has to be added proceeds of debentures authorised to be raised by "The Consolidated Stock Act, 1884," amounting to £57,500, issued against the accretions of sinking fund. These figures will give total receipts amounting to £6,083,500, and, compared with similar receipts last year amounting to £6,110,070, are not unsatisfactory. I have placed the Customs duties at £2,220,000, which will be nearly £19,000 in excess of last year's revenue. The trade of the colony is keeping up well, and it must not be lost sight of that the value of crossbred wool has appreciably increased, and that the prices of dairy and agricultural produce are exceptionally good and likely to continue so. Although I have thought it well to keep the estimated revenue from stamps (£898,000) some .£lO,OOO below the amount which was received last year, I shall be disappointed if it does not reach the previous figures, £908,000. Land-tax and income I have set down at £300,000 and £185,000, and as I refer to them in a separate paragraph I will pass on to other heads. Beer duty, £92,000, I estimate at nearly £2,000 more than last year's receipts. For our working-railways revenue I have set down £1,875,000, as against £1,869,500 received last year, and for which I estimated £1,760,000. lam quite satisfied that we shall reach the figures I have set down, notwithstanding the liberal concessions already made, and further reductions to which I shall refer later on. Registration and other fees I estimate at £70,000, as against £76,000 received, arising from a smaller amount of valuation fees being recoverable from the Land-tax Department. Marine, £31,000, is substantially the same as the receipts of last year. iii—B. 6.

Estimate ! Actual Differences. lor lor ; 1902-8. 1901-2. T Increase. Decrease. Differences. Revenue Account. £ £ £ £ 33,100 32,258 ! 842 1,893,194 1,803,939 ; 89,255 587,933 561,472 j 26,461 Civil List Interest and Sinking Fund Under special Acts 2,514,227 2,397,669 116,558 Annual Appropriations,— Legislative Departments Colonial Secretary's Department Colonial Treasurer's Department Justice Department Postal and Telegraph Department Customs and Marine Department Stamps and Deeds Department Education Department Lunacy and Charitable Department Department of Labour Mines Department Department of Agriculture Working Railways Department Public and School Buildings and Domains Defence Department Police Department Lands and Survey Department Valuation Department Rates on Crown lands 21,105 22,382 156,291 229,717 42,554 41,537 131,823 131,457 477,775 463,817 86,179 89,405 26,948 27,106 529,976 502,873 67,554 65,343 9,585 9,933 19,481 21,159 89,383 101,285 1,300,000 1,280,772 47,900 47,852 189,232 193,184 j 123.867 120,932 j 125.868 120,180 26,415 25,407 900 418 1,017 366 13,958 27,103 2,211 19^228 48 2,935 5,688 1,008 482 1,277 73,426 3,226 158 348 1,678 11,902 3,952 Services not provided for 3,472,836 3,494,759 74,044 95,967 3,486 3,486 Total 190,602 99,453 99,453 ■ 5,987,063 5,895,914 91,149

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Miscellaneous, £125,000, as against £133,700 received last year, shows a falling-off of some £8,000, occasioned by loss of interest derived from the £500,000 Bank of New Zealand preferred shares, and which the bank repurchased, and upon which interest ceases to be paid. The territorial revenue requires to be reduced by. nearly ,£20,000. I estimate the receipts for the present year at £230,000, as against the revenue of last year amounting to £249,619. This shrinkage arises from the fact that whereas perpetual-lease holders, if they desired to convert their leaseholds into freeholds, were required to do so before the expiration of twelve years, they have now this privilege extended to the full currency of their leases, and in consequence, for some few years hence, these conversions, and the receipts derived from them, will fall off very considerably. Summarising the estimated revenue for the present year, the total of which, as I have before stated, is set down at £6,026,000, I find that it is £27,000 less than the actual revenue received last year, but is £187,000 more than the total estimated revenue for the preceding year, which was stated at £5,839,000. Debentures created for the purpose of restoring the amount paid as sinking fund were in 1901-2 £57,000 ; for this year the Controller and Auditor-General has approved £57,500. I subjoin a table which will show at a glance the several estimates of revenue which 1 have made, and the comparison with last year's actual figures.

ESTIMATED Revenue of the Consolidated Fund (Revenue Account) for 1902-3, compared with the Actual Revenue of 1901-2.

ESTIMATED EESULTS AT CLOSE OF THE CUERBNT FINANCIAL YEAE. Having placed before honourable members the figures relating to our estimated expenditure and revenue for the current year, it only now remains for me to bring the two sides together, and state what I hope will be the results at the close of the year. The expenditure is set down at £5,987,063, and the receipts at £6,083,500; we therefore have excess of receipts over expenditure amounting to £96,437, to which amount has to be added the sum of £270,488 brought forward from last year. These two sums added together amount to £366,925, which will be available to meet transfers to the Public Works Fund, and such further appropriations in the supplementary estimates as honourable members will place at our disposal. NEW LOAN. The Government have very carefully considered the financial position, and also the imperative need to bring our railway works which are in course of construction to a paying-point. We are assailed on all sides by demands that

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Estimate for 1902-3. Actual for 1901-2. Increase. Differences. Decrease. Rkvenub Account. £ £ £ £ Customs Railways Stamps .. .. ■ Land-tax Income-tax Beer Duty Registration and other Pees Marine Miscellaneous Territorial Revenue 2,220,000 1,875,000 898,000 300,000 185,000 92,000 70,000 31,000 125,000 230,000 2,201,116 1,869,489 908,671 312,835 179,397 90,234 76,492 31,456 133,761 249,019 18,884 5,511 1,766 101671 12,835 6,492 456 8,761 19,619 -Debentures for Sinking Fund increases.. 6,026,000 57,500 6,053,070 57,000 31,764 500 58,834 32,264 Total 6,083,500 6,110,070 26,570

8.—6.

more energy should be shown in prosecuting works which are in hand ; but it must be admitted that we cannot continue a public-works policy without being properly provided with the always-necessary pounds, shillings, and pence. I have, at some length and at the risk of wearying yon, endeavoured to place before you our true financial position, and you will be able to recognise that we have, as before, maintained a very strong finance, albeit that the calls upon the public purse have been of late exceptionally large. Our position this year is just as firm and satisfactory, and in every direction the steady onward progress of our colony is shown. Our revenue is buoyant and increasing, and can easily bear the strain of further interest charges without in any way imposing further taxation upon the people. Under these circumstances, and after very careful consideration, the Government have come to the conclusion to ask the authority of Parliament for a loan of £1,750,000, to be allocated for the following purposes :— For the construction and completion of trunk and other lines of £ railway ... ... ... ... ... ... ... 750,000 For the construction of roads, tracks, and bridges... ... ... 450,000 For the cost of additional rolling-stock and the relaying of permanentway ... ... ... ... ... ... ... 450,000 For the purpose of developing the goldtieids ... ... ... 50,000, For telegraph extension ... ... ... ... ... 50,000 £1,750,000 There can be no question as to the propriety of the public purposes I have enumerated; and I feel quite certain that the expenditure of the money will be more than justified by the beneficial results to our colonists which must ultimately ensue. It will be seen that the greater proportion of the moneys to be raised will at once earn interest upon their expenditure, and no additional taxation will be required. Experience has shown that a portion of the money can be borrowed locally, and this is the course which will be followed. It has the advantage of insuring the retention of the interest in the colony, and of effecting a very large saving in the cost of raising. I feel sure the House will have no hesitation in authorising the amount I have named. CONCLUSION. My task is now completed. The facts, figures, and information which have been placed before you will, I trust, enable you to form deliberate judgment as to the financial position and the material progress of the colony. It is, I take it, the duty of the Government to control and direct our public affairs in a manner that will promote, as far as possible, the best interests of the people, and to do so consistently with a policy which one may term " safe." The resources of New Zealand are almost illimitable. Its greatest strength is to be found in the wonderful fertility and productiveness of its soil. lam confident that all will agree with me in saying that the best interests of the country can be promoted by the exercise of a judiciously progressive policy ■ —such a policy as will make provision for the constructing of roads in the interior, pushing forward our railways (particularly the trunk lines), by assisting the mining, agricultural, and other great industries so as to insure the highest possible return to the individuals engaged in them, and thereby adding to the financial resources of the public exchequer. If one and all will approach the many-sided questions which are ever presenting themselves for solution in a reasonable spirit, I feel certain that, as the years go by, the properly directed efforts of our people will result in bettering the condition of themselves and promoting the general wellbeing of our colony.

XIX

I-β. 6.

TABLES TO ACCOMPANY THE FOREGOING STATEMENT,

Page Table No. 1. —Abstbaot of Receipts and Expenditure of the Financial Yeab ended 31st March, 1902 .. .. .. .. .. .. .. .. .. .. 2 Table No. 2.—Comparative Statement of the Estimated and Actual Receipts and Expenditure of the Consolidated Fund for the Financial Year ended 31st March, 1902 .. 17 Table No. 3.—The Public Debt on 31st March, 1902 .. .. .. .; .. 18 Table No. 4.—Statement of the Estimated Liabilities of the Consolidated Fund outstanding on 31st Mabch, from 1893 to 1902, inclusive .. .. .. .. .. 20 Table No. 5. —Statement of the Estimated Liabilities op thb Public Works Fund outstanding on 31st March, from 1893 to 1902, inclusive .. .. .. .. .. 21 Table No. 6.—Statement showing the Total Ways and Means of the Public Works Fund and the Total Net Expenditure to 31st March, 1902 .. .. .. .. 22 Table No. 7. —Statement showing the Amount charged to " Unauthorised " in bach Financial Year from Ist July, 1875, to 31st March, 1902 .. .. .. .. ..23

8.—6.

Table No. 1.

2

19OO-19O1. RECEIPTS. 19O1-19O2. £ s. d. 605,351 14 6 Balance at beginning of Year £ s. d. £ s. d. 532,564 8 11 2,180,861 11 4 903,934 17 11 294,583 15 6 173,808 18 10 85,170 10 0 1,720,640 19 5 67,537 7 10 29,553 6 10 126,410 18 7 Ordinary Revenue, — Customs Stamps, including Postal and Telegraph Cash Receipts Land-tax Income-tax Beer Duty Railways Registration and other Fees Marine Miscellaneous 2,201,116 1 7 908,671 8 0 312,835 9 11 179,397 7 7 90,233 9 6 1,869,488 13 6 76,491 15 11 31,456 0 11 133,760 13 1 5,582,502 6 3 5,803,451 0 0 78,793 18 5 10,575 1 1 180,834 6 3 Territorial Revenue, — Cash Land Sales Deferred-payment Land Sales Pastoral Runs, Rents, and Miscellaneous £59,576 0. 8 8,434 11 3 181,608 9 7 249,619 1 6 270,203 5 9 6,053,070 1 6 5,852,705 12 0 Receipts in Aid, — Debentures issued under " The Consolidated Stock Act, 1884," — For Increases of Sinking Fund 57,000 0 0 52,800 0 0 1,410 11 9 Recoveries in respect of Expenditure of previous years,— Unauthorised (purchase of oats, &c.) South Afrioa Contingents 5,777 12 6 36,991 7 0 42,768 19 6 6,512,267 18 3 " The Dairy Industry Act, 1898 "— Proceeds of debentures issued under the above Act 6,685,403 9 11 1,781 0 0 £6,514,048 18 3 Totals £6,685,403 9 11 TREASURY BILLS 224,000 0 0 476,000 0 0 Treasury Bills outstanding at beginning of Year, — In anticipation of Revenue In redemption of Guaranteed Debentures .. 224,000 0 0 476,000 0 0 700,000 0 0 700,000 0 0 370,000 0 0 700,000 0 0 Treasury Bills issued during Year, — In anticipation of Revenue In renewal of Bills matured 440,000 0 0 940,000 0 0 1,380,000 0 0 1,070,000 0 0 £1,770,000 0 0 Totals £2,080,000 0 0

8.—6.

STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1902, compared with the Financial Year ended 31st March, 1901. REVENUE ACCOUNT.

3

19OO-19O1. EXPENDITURE. 19O1-19O2. £ a. d. £ s. a. £ a. d. 29,172 19 1 1,745,615 12 6 200,908 4 5 76,218 4 7 34,233 1 4 6,507 16 9 19,092 15 1 26,867 18 6 196,606 17 4 Permanent 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 Payments under the Land Acts Endowments— New Plymouth Harbour Board Greymouth Harbour Board Westport Harbour Board Old-age pensions .. .. .. .. .. .. 32,258 9 1 1,803,939 2 4 198,455 0 10 63,470 3 10 30,483 2 7 4,801 11 10 20,993 4 10 35 799 13 8 207,468 8 5 2,335,223 9 7 2,397,668 17 5 25,265 0 0 110,555 14 8 39,147 19 3 126,741 2 2 416,363 15 4 87,037 16 4 26,255 15 11 445,293 15 9 64,511 16 4 7,977 13 9 17,487 16 8 74,876 5 0 1,144,831 13 3 46,851 10 4 206,565 1 10 117,522 5 0 137,565 3 5 23,579 12 5 530 16 10 25,519 5 6 3.144.479 19 9 25,265 0 0 110,555 14 8 39,147 19 3 126,741 2 2 416,363 15 4 87,037 16 4 26,255 15 11 445,293 15 9 64,511 16 4 7,977 13 9 17,487 16 8 74,876 5 0 1,144,831 13 3 46,851 10 4 206,565 1 10 117,522 5 0 137,565 3 5 23,579 12 5 530 16 10 25,519 5 6 Annual Appropriations,— Class I.—Legislative II.—Colonial Secretary „ III.—Colonial Treasurer „ IV.—Minister of Justice V.—Postmaster-General „ VI.—Commissioner of Trade and Customs VII.- Commissioner of Stamps VIII.—Education Department „ IX.—Lunacy and Charitable Aid Department „ X.—Department of Labour „ XI.—Minister of Mines XII.—Minister for Agriculture XIII.—Working Eailways XIV.—Minister for Public Works „ XV.—Defence Department .. „ XVI. —Police Department „ XVII.—Minister of Lands „ XVIII.—Valuation Department „ XIX.—Kates on Crown Lands Services not provided for 22,382 8 2 229,717 7 2 41,537 0 1 131,456 13 7 463,817 2 0 89,404 14 8 27,106 5 2 502,872 15 6 65,343 4 8 9,932 14 10 21,158 18 5 101,284 12 9 1,280,771 10 8 47,852 5 9 193,183 18 8 120,932 9 7 120,180 3 1 25,407 2 3 418 0 9 3,486 7 0 3,144,479 19 9 3,498,245 14 9 500,000 0 0 Amount transferred to the Public Works Fund in terms of section 17 of " The Appropriation Act, 1901 " .. 500,000 0 0 500,000 0 0 Debentures redeemed— "Land for Settlements Consolidation Act, 1900" 19,000 0 0 532,564 8 11 P. S1Q «R7 10 a 532,564 8 11 Balance at end of Year 270,488 17 9 6,685,403 9 11 18 3 1,781 0 0 6,512,267 18 3 " The Dairy Industry Act, 1898,"— Amount advanced to Dairy Companies 1,781 0 0 £6,514,048 18 3 Totals £6,514,048 18 3 £6.685,403 9 11 ACCOUNT. 370,000 0 0 700,000 0 0 Treasury Bills paid off during Year Treasury Bills renewed during Year .. 440,000 0 0 940,000 0 0 1,070,000 0 0 Treasury Bills outstanding at end of Year, In anticipation of Revenue In redemption of Guaranteed Debentures 1,380,000 0 0 224,000 0 0 476,000 0 0 224,000 0 0 476,000 0 0 700,000 0 0 700,000 0 0 Totals £1,770,000 0 0 £2,080,000 0 0

8.—6.

Table No. 1— continued.

4

19OO-19O1. RECEIPTS. 19O1-19O2. £ s. d. 23,558 16 2 Balance at beginning of Year, — Cash in the Public Account Advances in hands of the Officers of the Government, — In the Colony M s. d. 31,823 2 3 £ s. d. 31,823 2 3 206 10 0 23,765 6 2 Rents from Lands set apart Miscellaneous 4,170 9 3 10,744 16 0 6,430 17 9 10,757 13 8 17,188 11 5 14,915 5 3 Totals £49,011 13 8 £38,680 11 5 ACC UNTS OF 4,479 16 6 Balance at beginning of Year, — Cash in the Public Account Advances in the hands of Officers of the Government, — In the Colony 11,611 19 5 15 2 4 11,627 1 9 4,479 16 6 3,703 7 6 14,285 1 0 30,725 14 11 16,401 19 9 Revenue received for Local Bodies, — Fees, Fines, &c. Endowments of Land, &c. Goldfields Revenue Gold Duty 7,524 5 7 17,455 13 10 28,064 14 2 19,785 1 10 72,829 15 5 65,116 3 2 Counties Separate Accounts, — Revenue of Counties in which " The Counties Aot, 1886," is not in full operation 586 14 5 563 3 3 55,882 7 6 128 8 5 Advance Account, — Amount repaid by Local Bodies Ditto on account of Unauthorised Expenditure of previous years 31,230 13 1 114 8 4 31,345 1 5 56,010 15 11 Totals £126,169 18 10 £116,388.13 0 DEPOSIT 153,780 19 0 1,500 0 0 29,367 11 2 Balance at beginning of Year, — Gash in the Public Account .. .. .. .. Advances in the hands of Officers of the Government, — In the Colony In London 157,129 12 6 18,841 11 9 52,999 6 3 228,970 10 6 184,648 10 2 Lodgments,— Cyanide Process Gold-extraction Act, 1897 Emigrants' Deposits General Assembly Library Fund Hospitals and Charitable Institutions Act, 1885-1886 Imperial Government (South Africa Contingents) .. ■ Imperial Government (Balances, Fourth and Fifth Contingents) Imperial Government (Purchase of Oats) Land Transfer Act, 1885 Mining Districts Land Occupation Act, 1894 Miscellaneous Money-order Settlement Moiety of Rotorua Bath Fees Native Land Purchases Native Township of Parata „ Pipiriki Potaka „ Te Araroa Te Puia „ Tokaanu » Tuatine .. .. .... Nelson Eifle Prize Fund .. .. .. .... New Zealand Midland Railway .. .. .... New Zealand University Endowment, Canterbury New Zealand University Endowment, Taranaki New Zealand University Endowment, Westland North Island Experimental Dairy School North Island Main Trunk Railway Loan Application Act 1886 Amendment Act. 1889 .. .. ...... Publio Health Aot, 1900 .. .. .. '.'. .'. " .', Public Trust Office Remittance Account Railways Tauranga Educational Endowment Reserves Act, 1896 Thermal-springs Districts Act, 1881 Trustee Aot, 1883 998 4 10 10,632 7 3 75 0 0 4 17 1 211,663 8 7 879 4 2 14,049 15 1 75 0 0 19 1 5 325,834 0 2 24,422 2 9 264,307 4 2 3,170 10 6 651 12 4 16,715 6 1 37,400 0 0 694 7 6 332 10 2 51 11 10 154 1 6 65 6 3 42 19 9 3 10 0 155 4 9 24 9 0 35 11 0 117,773 8 0 779 5 0 267 10 5 59,011 4 5 48,931 13 5 333 18 1 42 11 9 124 9 0 58 3 9 31 17 9 24 16 3 208 19 7 15 11 0 42 5 0 8,467 7 10 129 11 0 261 7 6 7 10 0 41 10 9 129 11 0 306 9 10 41 10 9 9,449 7 8 8,238 12 5 300 0 0 18,987 16 1 5,220 0 0 16 1 2 717 4 2 212 16 4 12,886 5 5 720 0 0 49 6 9 2,682 11 9 473 2 5 723,253 10 2 486,187 12 3 Totals £670,836 2 5 £952,224 0 8

8.—6.

5

No. 1—continued. FUND for the Year ended 31st March, 1902, compared with the Financial Year ended 31st March, 1901. ACCOUNT.

I i 19OO-19O1. EXPENDITURE. 19OO-19O1. 19O1-19O2. 19O1-19O2. £ s. d Annual Appropriations,— 6,857 9 2 Vote 109—State Forests Branch £ s. d 6,857 9 2 £ s. d. £ s. d. 10,334 13 7 £ s. d. £ s. d. 10,334 13 7 Balance at end of Year, — 31,823 2 3 Cash in the Public Account Advances in the hands of Officers of the Government,— In the Colony .. 91 S09 o a 31,823 2 3 38,299 8 2 377 11 11 38,677 0 1 38,299 8 2 377 11 11 38,677 0 1 31,82b '2 3 £38,680 11 5 Totals 31,823 2 3 £49,011 13 8 £49,011 13 8 £38,680 11 5 LOCAL BODIES. Revenue paid over to Local Bodies, — 3,742 10 0 Fees, Fines, &c. .. 6,674 18 7 Endowments of Land, &c. .. 31,690 0 7 Goldfields Revenue 16,158 12 5 Gold Duty 58,265 16 7 Counties Separate Accounts, — Amount distributed amongst local bodies where "The Counties Aot, 1886," 520 14 7 I is not in full operation Advance Accounts, — 55,756 5 11 Payments on behalf of Local Bodies 6,902 6 6 13,675 5 8 26,508 11 8 19,673 0 4 66,759 4 2 624 15 8 31,292 6 1 Balance at end of Year,— 11,611 19 5 i Cash in the Public Account Advances in the hands of Officers of the Government, — 15 2 4 In the Colony 17,700 14 8 11 12 5 17 719 1 1 11,627 1 9 11,627 1 9 ■ 17,712 7 1 £126,169 18 10 Totals £126,169 18 10 ■ £116,388 13 0 £116,388 13 0 ACCOUNTS. Withdrawals, — 10,552 7 3 Emigrants'Deposits 75 0 0 General Assembly Library Fund 4 17 1 Hospitals and Charitable Institutions Act, 1885-1886.. 179,204 14 9 Imperial Government (South Africa Contingents) Imperial Government (Balances, Fourth and Fifth Contingents) 117,773 8 0 1 Imperial Government (Purchase of Oats) 676 10 0 Land Transfer Act, 1883 110 0 8 Mining Districts Land Occupation Act, 1894.. 55,905 11 3 Miscellaneous 43,724 16 5 Money-order Settlement .. 331 14 4 Native Land Purchases 190 16 0 j Native Township, Pipiriki .. Potaka .. 0 17 4 „ Tokaanu.. 47 0 0 Nelson Rifle Prize Fund Nelson Rifle Prize Fund Investment 12,524 2 10 New Zealand Midland Railway 2 14 9 Ngatirahiri Compensation North Island Main Trunk Railway Loan Application Act 1886 Amendment Act, 7,486 2 11 1889 .. 12,049 2 4 Public Trust Office Remittance Account 2 0 10 Railways .. .. .. ......... 1,203 15 2 Thermal-springs Districts Act, 1881.. Trustee Act, 1883 .. 441,865 11 11 13,659 15 1 75 0 0 5 18 5 333,990 12 8 24,422 2 9 264,307 4 2 1,961 10 6 180 13 9 41,796 19 6 26,606 17 0 350 5 6 139 11 1 88 0 3 217 17 6 44 16 0 20 2 10 11,011 9 9 14,563 11 11 717 19 2 562 3 11 527 13 9 735,250 5 6 441,865 11 11 Balances at end of Year, — 157,129 12 6 Cash in the Public Account Advances in the hands of Officers of the Government, — 18,84111 9 IntheColony .. 52,999 6 3 In London 228,970 10 6 £670,836 2 5 Totals 128,303 1 10 60,858 17 1 27,811 16 3 216,973 15 2 £952,224 0 8

8.—6.

Table No. I— continued.

STATEMENT of the RECEIPTS and EXPENDITURE of the CHEVIOT ESTATE

6

19OO-19O1. RECEIPTS. 19O1-19O2. £ s. d. £ s. d. £ s. d. 90,782 17 3 Balance at beginning of Year, — Cash in Public Account Advances in the hands of Officers of the Government, — In the Colony .. .. .. .. .. •• 42,845 4 5 In London 181,679 7 3 7,991 6 5 25,710 6 3 23,256 2 6 224,524 11 8 232,515 18 1 139,749 6 0 The Aid to Public Works and Land Settlement Acts, — Prooeeds of sale of £500,000 4-per-cent. Debentures issued under the Act of 1900 (London issue) Proceeds of sale of £500,000 4 per-oent. Debentures issued under the Act of 1900 (Colonial issue) .. Proceeds of sale of £250,000 4-per-cent. Debentures issued under the Act of 1901 (Colonial issue) Instalments in respect of £1,000,000 Loan 3-per-cent. Stook issued under the Act of 1901 Temporary advances on security of short-dated Debentures Proceeds of short-dated Debentures issued under the Act of 1899 Amount of 3-per-cent. Inscribed Stock created 500,000 0 0 500,513 19 2 250,000 0 0 865,000 0 0 500,000 0 0 35,000 0 0 812,666 13 4 200,000 0 0 1,400,000 0 0 2,263,180 12 6 Amount transferred from the Consolidated Fund in terms of section 17 of " The Appropriation Act, 1901" .. 500,000 0 0 500,000 0 0 Special Eeceipts in connection with the Ellesmere and Porsyth Reclamation and Akaroa Eailway Trust 1,615 12 2 1,787 13 9 Totals £2,041,536 19 9 £2,997,312 2 9

£ s. d. Balance at beginning of Year, — Cash in Public Account £ a. d. £ s. d. 6,452 1 0 11,680 16 6 14,121 7 4 45 0 0 Receipts under " The Cheviot Estate Disposition Act, 1893," — Bents from Lands Interest on Advances Miscellaneous 14,007 14 6 45 0 0 8 6 2 14,061 0 8 - 14,166 7 4 Totals £20,618 8 4 £25,741 17 2

8.—6.

STATEMENT of the RECEIPTS and EXPENDITURE of the PUBLIC WORKS FUND for the Year ended 31st March, 1902, compared with the Financial Year ended 31st March, 1901.

ACCOUNT for the Year ended 31st March, 1902, compared with the Financial Year ended 31st March, 1901.

7

19OO-19O1. EXPENDITURE. 19O1-19O2. £ a. d. £ s. d. £ s. d. 12,932 18 9 717,722 11 7 121,363 19 2 6,516 15 8 214 0 9 315,741 9 2 15,907 8 1 28,687 11 6 50,100 19 7 672 15 8 37,650 11 9 Annual Appropriations,— Class XX.—Public Works, Departmental XXI.—Eailways .. XXII.—Public Buildings .. XXIII. —Lighthouses, Harbour-works, and Harbour Defences .. XXIV.—Tourist and Health Resorts .. „ XXV.—Immigration XXVI.—Roads „ XXVII.—Development of Goldfields .. „ XXVIII.—Purchase of Native Lands XXIX.—Telegraph Extension „ XXX.—Rates on Native Lands „ XXXI.—Contingent Defence „ XXXII.—Lands Improvement 16,404 5 1 1,333,940 13 1 145,599 11 8 12,158 17 0 11.260 0 10 139 14 2 402,260 4 4 15,325 6 11 18.261 9 10 31,728 16 2 570 9 4, 146,875 13 1 1,677 7 1 1,307,511 1 8 2,136,202 8 7 50 0 0 Unauthorised, — Services not provided for 1,430 8 2 500,000 0 0 1,460 0 0 The Aid to Public Works and Land Settlement Acts, — Temporary advances repaid Charges and expenses of raising loans 400,000 0 0 5,619 18 0 405,619 18 0 501,460 0 0 7,991 6 5 Balance at end of Year, — Cash in the Public Acoount Advances in the hands of Officers of the (lovernment, — In the Colony In London 405,922 16 5 42,845 4 5 181,679 7 3 5,544 11 3 42,592 0 4 232,515 18 1 454,059 8 0 Totals £2,041,536 19 9 £2,997,312 2 9

£ s. d. 8,866 2 6 71 9 4 Interest Surveys, Roading, &o. £ a. a. 8,866 2 6 15 0 0 £ s. a. 8,881 2 6 8,937 11 10 / Balance at end of Year, — Cash in the Public Account 11,680 16 6 16,860 14 8 Totals £20,618 8 4 £25,741 17 2

8.—6.

Table No. I—continued.

8

RECEIPTS. 19O1-19O2. 19OO-19O1. £ s. d. £ a. d. £ s. d. 53,381 8 4 Balance at beginning of Year, — Cash in the Public Account Advances in hands of Offioera of the Government, — In the Colony 92,021 8 7 1,328 3 7 93,349 12 2 8 2 0 53,389 10 4 219,000 0 0 Proceeds of Scrip and Debentures created under, — The Land for Settlements Consolidation Act, 1900— Amount issued Premium received 897,150 0 0 15 0 897,151 5 0 Eeceipts derived from Estates, — Rents and Lease-fees 90,053 5 6 72,781 8 2 Recoveries, — Hatuma Estate, on account of purchase-money Fencourt and Whitehall, on account of purchase-money Tokarahi, in reduction of expenses .. 224 14 9 '5 17 2 10 0 0 224 14 9 15 17 2 • Credits in reduotion, — Paparangi Estate Rangiatea Estate 36 15 6 0 8 6 37 4 0 I I Totals • £1,080,816 1 5 Totals £345,186 15 8

8.—6.

STATEMENT of the RECEIPTS and EXPENDITURE of the LAND FOR SETTLEMENTS ACCOUNT for the Year ended 31st March, 1902, compared with the Financial Year ended 31st March, 1901.

9

19OO-19O1. EXPENDITURE. 19O1-19O2. £ s. d. £ s. S. £ s. d. £ s. d. £ s. d. 3,584 10 11 4,234 18 1 Annual Appropriations,— Vote 110 —Land for Settlements Expenses Acquirement of Estates, — Name of Estate. Purchase-money. Purchase-money. Expenses. 30 16 2 781 1 1 22 10 0 292 2 2 Expense! 38. Total. 30 16 2 781 1 1 22 10 0* 292 2 2 185 1 3 524 6 0 3 19 3 459 1 1 7 13 36 7 9 3,125 15 0 821 2 5 262 12 0 142,026 13 9 1 10 0 52 10 8 272 0 8 95 2 0 248 0 5 15,849 4 11 0 19 3 468 17 3 2,351 15 10 160 2 10 2,818 2 6 6,755 5 4 5,256 14 0 2 12 0 9 5 0 13 11 .0 40 3 0 8 7 11 138 0 8 100 3 6 463 13 0 27 9 2 Albury Aorangi .. .. .. • .. Ardgowan Barnego Beaumont Blind Biver Cradock (G. A. W. Chambers) .. .. 1,000 0 0 Earnscleugh .. .. .. Elderslie „ . <(&. S. Mason) .. .. .. 8,86112 6 ) E P um {(A.Forrest) 285 0 0 j Fencourt Forest Gate (Trustees, Colonel Harriok) .. 4R.521 0 0 Georgeton Glenham (Otago and Southland Investment Co.) 37,100 0 0 Hatuma Hetana (W. P. Hoffman) .. .. .. 4,898 14 8 Highbank Horsley Down Janefiald Kaimabi (W. Perceval) .. .. .. 4,700 0 0i Kapuatohe (A. B. Cambridge) .. .. 2,249 3 1 Karapiro Kitchener (T. Ching) .. .. .. 876 9 8 Kohika (T. Teschmaker) .. .. .. 28,093 4 3 Kohika No. 2 Kurneroa (see note) .". .. .. .. 28,685 0 0 Langdale (A. A. Elder) .. .. .. 30,669 10 0 Lyndon Lyndon No. 2 (Duncan and McFarlane) .. 43,326 5 0 Maerewhenua Mahora Makareao (Waihemo Grange) Manga-a-toro (Assets Realisation Board) .. 88,118 4 3 Mangawbata (M. Morrison) .. .. .. 16,129 8 6 Maytown (MoGoverin and Hardie) .. .. 5,286 12 0 Maungaraki Merrivale Metbuen (P. Gallagher) .. .. .. 3,528 16 10 Momona (Myrtle Bank) North Bank Ohakea .. ... Okauia Omaka Opouriao .. .. Otahu Otaio Papaka (Levels Valley) Paparangi Pareora No. 2 Pawaho Plumer (Bank of New Zealand and T. Roberts) 888 0 0 Pomahaka Pouparae Puhuka (T. Hawley).. .. .. .. 989 4 4 Punaroa (Three Springs) Raincliff (New Zealand Trust and Loan) .. 2,424 5 0 Rakitairi (Arowhenua) Rapuwai (J. Sullivan) .. .. .. 8,990 5 6 Raureka Rautawiri (Rural Section 3106) Richmond Brook Ringway (Murray, Roberts, and Co.) .. .. . 8,000 0 0 Roimata Rural Section 36278 (F. E. Parker) .. .. 483 17 9 Starborough Takitu (Clarksfleld) .. .. Tamai Tarawahi Toka-ora (J. Livingstone) .. .. .. 31-, 616 11 0 Te Matua .. Tokarahi Waari (W. E. Bruce) .. .. .. 855 8 0 Waikakahi .. .. .. .... Waimarie Waipapa Run Wharenui .. Whitehall .. Willows 406.576 11 11 1,000 0 0 8,861 12 6 285 0 0 4R.521 0 0 37,100 0 0 4,898 14 3 4,700 0 0 2,249 3 1 876 9 8 28,093 4 3 28,685 0 0 30,669 10 0 43,326 5 0 88,118 4 3 16,129 8 6 5,286 12 0 3,528 10 10 i 2 i 44 2 5 82 8 2 885 8 8 90 12 10 688 1 6 17 19 0 412 13 4 2,944 1 9 26 11 0 20 0 0 7 2 6 52 5 2 44 15 7 607 10 1 19 16 3 866 8 0 621 15 4 262 4 4 542 9 0 6 16 4,461 17 1 641 3 10 468 19 2 20 16 0 774 14 4 1 9 10 0 12 6 251 11 11 30 1 781 22 1 292 44 82 885 90 1 688 17 1 412 1 2,944 26 1 20 7 52 44 1 607 1 19 1 866 621 1 262 542 6 4,461 1 641 468 1 20 1 774 1 1 0 1 251 1 20 1 19 24 i 10 330 1 103 1 38 1 2 99 1 247 1 64 1 167 1 2 1 653 1 121 1 3 1,635 1 171 94 1 131 1 389 1 45 5 5 2 193 40 1 20.614 1 L6 2 1 1 10 0 2 2 2 5 8 2 8 8 12 10 1 6 L9 0 13 4 1 9 11 0 0 0 2 6 5 2 15 7 10 1 L6 3 8 0 15 4 4 4 9 0 1 6 17 1 3 10 L9 2 16 0 14 4 9 10 12 6 LI 11 10 0 0 8 2 0 5 9 6 0 LI 0 L7 3 19 7 7 6 L5 6 13 6 18 0 L9 8 7 6 5 8 17 6 17 1 3 0 16 6 0 2 14 8 19 0 18 8 1 10 5 0 8 0 7 6 7 11 0 0 0 7 18 0 1,000 0 0 44 2 5 82 8 2 10,032 1 2 90 12 10 49,209 1 6 17 19 0 37,512 13 4 2,944 1 9 4,925 5 3 20 0 0 7 2 6 4,752 5 2 2,293 18 8 876 9 8 28,700 14 4 19 16 3 29,551 8 0 31,291 5 4 262 4 4 43,868 14 0 6 16 4,461 17 1 88,759 8 1 56,598 7 8 5,307 8 0 774 14 4 1 9 10 3,528 16 10 0 12 6 251 11 11 20 10 0 19 0 8 24 2 0 20 10 0 19 0 8 24 2 6 15 9 10 6 0 330 11 0 103 17 3 15 9 10 6 0 330 11 0 103 17 3 888 0 0 33 19 7 2 7 6 1,088 19 10 247 13 6 2,489 3 0 888 0 0 33 19 7 2 7 6 99 15 6 247 13 6 64 18 0 3 5 4 989 4 4 226 16 5 2,424 5 0 'i 19 0 8,990 5 6 167 19 8 2 7 6 15 8 653 17 6 121 17 1 9,158 5 2 2 7 6 15 8 653 17 6 8,121 17 1 3 4 0 59 7 4 257 8 5 8,000 0 0 0 10 0 483 17 9 3 3 0 1,635 16 6 171 0 2 94 14 8 131 19 0 389 18 8 487 0 9 1,635 16 6 171 0 2 94 14 8 131 19 0 32,006 9 8 979 0 7 221 1 9 573 8 1 2,857 10 0 31', 616 11 0 26 11 11 5 5 9 45 1 10 5 5 0 5 8 0 2 7 6 193 7 11 40 0 0 10 7 45 1 10 860 13 0 5 8 0 2 7 6 193 7 11 40 0 0 10 7 855 8 0 72 8 1 7 11 9 8,337 12 7 34 12 7 46 14 8 3 11 0 196,303 9 11 406,576 11 11 20,614 18 0 427,191 9 11 4UD,0VD ±± 11 Interest recouped to Consolidated Fund in respect of Debentures issue ed 2U,O1S J io u 427,191. 9 11 66,834 18 6 50,910 2 6 Repayment of Advances made on security of short-dated Debentures 200,000 0 0 388 13 0 Charges and Expenses on issue of Debentures under the Act 512 15 10 Balance at end of Year, — Cash in the Public Account Advances in the hands of Officers of the Government, — In the Colony Investment Account 32,070 19 1 92,021 8 7 1,328 3 7 621 7 2 350,000 0 0 382,692 6 3 93,349 12 2 £345,186 15 8 Totals £ 1,080,816 1 5 1—TC (\

8.—6.

Table No. I—continued.

STATEMENT of the RECEIPTS and EXPENDITURE of the NEW ZEALAND CONSOLS

10

19OO-19O1. RECEIPTS. 19O1902, £ s. d. £ s. d. £ s. d. 39,538 9 1 363 2 10 Balance at beginning of Year, — Cash in the Publio Account In the hands of Stock Agents— Cash .. .. .. .. •• - •• 3,706 19 3 180 5 4 3,887 4 7 39,901 11 11 13,000 0 0 5,000 0 0 3-per-oent. Inscribed Stock, — Issued for redemption of Debentures Issued for payment of conversion expenses Issued in exchange for Debentures .. 50,000 0 0 7,000 0 0 327,147 0 0 384,147 0 0 18,000 0 0 3J-per-cent. Consolidated Stock Debentures (Colonial Issue), — Issued in exchange for Debentures 509,500 0 0 Totals £567,401 11 11 £388,034 4 7

19OO-19O1. RECEIPTS. 19O1-19O2. £ s. d. £ s. d. £ s. d. 87 6 11 441,400 0 0 441,487 6 11 Balance at beginning of Year, — Cash in Deposit Account .. Investment Account 2,989 7 1 456,400 0 0 459,389 7 1 17,902 0 2 Deposits inscribed 8,935 0 0 £459,389 7 Totals £468,324 7 1

8.—6.

STATEMENT of the RECEIPTS and EXPENDITURE of the CONVERSION ACCOUNT for the Year ended 31st March, 1902, compared with the Financial Year ended 31st March, 1901.

ACCOUNT for the Year ended 31st March, 1902, compared with the Financial Year ended 31st March, 1901.

11

EXPENDITURE. 19019O2. 19OO-19O1. £ s. d. £ s. a. £ s. d. 50,400 0 0 290 0 0 Debentures redeemed, — Consolidated Loan Act, 1867, 5 per cent. .. .. •• •• •• Naval and Military Settlers and Volunteers Land Act, 1892, due 81st Ootober, 1899 Otago Loan, 1862, 6 per cent. 50,900 0 0 30 0 0 400 0 0 51,330 0 0 50,690 0 0 "Government Loans to Local Bodies Act, 1886," debentures, due 31st December, 1900 509,500 0 0 Debentures converted into 3-per-cent. Inscribed Stock,— Amount Kate premium converted. per Cent. Land for Settlement, Act, 1894 .. .. 39*900 .. 1OB .. 1,197 Aid to Public Works and Land Settlement Act J 25o'000 ..• Par 324,900 2,247 327,147 0 0 45 0 0 450 0 0 1,550 2 0 946 7 10 220 7 6 112 10 0 327,147 0 0 Expenses Account, — Brokerage and Commission Discount .. • • • • • ■ • • • • ■ Stamp Duty Interest (including overlap of interest) Office Expenses Bents Law charges Honorarium to officers .. .. • • ■ • • • 135 0 0 1,690 1 0 838 12 9 1,458 4 7 231 5 6 90 0 0 62 8 0 348 0 0 4,853 11 10 3,324 7 4 * Balance at end of Year, — Cash in the Public Account In the hands of Stock AgentsCash .. In the hands of the Agent-General— Cash .. 901 0 8 3,706 19 3 180 5 4 1,910 3 1 1,892 9 0 4,703 12 9 3,887 4 7 Totals £388,034 4 7 £567,401 11 11'

EXPENDITURE. 19O1-' 9O2. 19OO-19O1, £ si a. £ s. a. £ s. a. 2,989 7 1 456,400 0 0 Balance at end of Year, — Cash in Deposit Account.. Investment Account 224 7 1 468,100 0 0 468,324 7 1 459,889 7 1 Totals £468,324 7 1 £459,389 7 1

8.—6.

Table No. I—continued.

12

19OO-19O1. RECEIPTS. 19O1-19O2. £ s. d. £ s. d. £ s. d. 6,982 2 4 13,611 2 11 Balance at beginning of Year, — Cash in the Public Account Advances in hands of Officers of the Government— In the colony 20,881 9 0 7,091 2 6 27,972 11 6 20,593 5 3 176,000 0 0 Debentures created, — Under " The Government Loans to Local Bodies Act. 1836 " .. Under " The Local Bodies' Loans Act, 1901 " 213,200 0 0 141,200 0 0 72,000 0 0 76 1 1 325 18 1 68 8 4 838 9 0 Repayments under section 8 of "The Government Loans to Local Bodies Act Amendment Act, 1896," — Counties, — Kiwitea Manawatu Masterton Pohangina Rangitikei .. Stratford .. .. .. .. ,. ... Wanganui Road Boards, — Ngatapa Taratahi-Carterton Borough— Stratford Town Board, — Bull's 59 7 4 998 6 5 220 5 8 421 11 4 619 10 1 100 0 0 5,797 5 0 66 2 10 241 2 10 2,106 16 5 7,725 11 7 204,318 16 10 Carried forward 243,279 7 11

8.—6.

13

No. 1—continued. ACCOUNT for the Year ended 31st March, 1902, compared with the Financial Year ended 31st March, 1901.

19OO-19O1. EXPENDITURE. 19O1-19O2. £ s. d. Grants under " The Government Loans to Local Bodies Act, 1886 " — Counties — 800 0 0 Bruce 855 0 0 Clifton 3,000 0 0 Clutha 1,000 0 0 Cook Coromandel 650 0 0 Eketahuna .. .. •' 1,650 0 0 Hawera Hobson 550 0 0 Horowhenua Inangahua 3,710 0 0 Kiwitea 2,000 0 0 Lake 6,000 0 0 Manawatu .. Masterton 330 0 0 Pahiatua Patangata 5,626 0 U Pohangina 3,050 0 0 Bangifcikei 5,990 0 0 Stratford Taieri 2,000 0 0 Waiapu Waipa .. .. .. .. 1,600 0 0 Waipawa 300 0 0 Wairarapa South 2,500 0 0 Waitotara 11,611 0 0 Road Boards— 1,172 0 0 Arai .. .. .. Arch Hill 1,000 0 0 Avon Drury 300 0 0 Castlepoint Eden Terrace 1,000 0 0 Featherston 250 0 0 Frankley 70 0 0 Hunua Manawatu 2,994 0 0 Manchester 990 0 0 Manganui 690 0 0 Moa 1,250 0 0 Ngatapa Okato Opaheke Otaki Parapara 2,807 0 0 Parihaka Porangahau Seatoun 970 0 0 Upper Wangaehu 3,000 0 0 Waimate Waipipi Wairau Waitara West .. .. ... Waitotara-Momohaki Waiuku 750 0 0 Waiwakaiho Weber 1,252 0 0 Wirokino 18,495 0 0 Boroughs— Akaroa Feilding 200 0 0 Foxton Grey Lynn Hastings 2,000 0 0 Hawera Lyttelton Masterton Napier 1,500 0 0 Palmerston 190 0 0 Petone Port Chalmers Stratford 300 0 0 Te Aroha Temuka 10,000 0 0 Thames Westport Whangarei Woodville 41,611 0 0 £ s. d. £ ' s. d 2,700 0 0 1,350 0 0 l,5u0 0 0 1,700 0 0 1,000 0 0 2,025 0 0 1,850 0 0 320 0 0 4,000 0 0 8,000 0 0 5,900 0 0 6,000 0 0 4,950 0 0 1,218 0 0 6,000 0 0 5,789 0 0 6,000 0 0 6,000 0 0 5,777 0 0 6,000 0 0 600 0 0 1,736 0 0 150 0 0 80,565 0 0 1,454 0 0 500 0 0 600 0 0 3,000 0 0 800 0 0 300 0 0 2,786 0 0 1,650 0 0 830 0 0 500 0 0 - 1,500 0 0 100 0 0 500 0 0 3,000 0 0 1,200 0 0 2,750 0 0 700 0 0 2,910 0 0 100 0 0 400 0 0 100 0 0 650 0 0 1,200 0 0 650 0 0 2,000 0 0 997 0 0 31,177 0 0 379 0 0 3,000 0 0 1,400 0 0 2,000 0 0 5,500 0 0 5,000 0 0 350 0 0 2,000 0 0 2,500 0 0 1,100 0 0 500 0 0 14,190 0 0 23,729 0 0 14,190 0 0 74,296 0 0 Carried forward 135,471 0 0 74,296 0 0 135,471 0 0

£.—6.

Table No. I—continued.

STATEMENT of the RECEIPTS and EXPENDITURE of the GOVERNMENT ADVANCES TO SETTLERS

14

19OO-19O1. RECEIPTS. 19O1-19O2. £ g. d 204,318 16 10 £ s. d. £ s. d. 243,279 7 11 Brought forward I ■ ■ £204,318 16 10 Totals Totals £243,279 7 11

19OO-19O1. RECEIPTS. 19O1-19O2. £ s. a. £ s. d. s s. a. 140,000 0 0 The Government Advances to Settlers Act, 1894, — Instalments received in respect of £500,000 3-percent. Stock Loan issued in London .. .. .. .. .. .. .. Temporary Advanoes on Seourity of Short-dated Debentures .. .. .. j Received from Advances to Settlers Office to pay off Advanoes 3-per-cent. Stock oreated 406,333 6 8 180,000 0 0 140,000 0 0 726,333 6 8 240,000 0 0 380,000 0 0 Totals £380,000 0 0 £726,333 6 8

8.—6.

15

No. 1—continued. ACCOUNT for the Year ended 31st March, 1902, compared with the Financial Year ended 31st March, 1901— continued.

OFFICE LOAN ACCOUNT for .the Year ended 31st March, 1902, compared with the Financial Year ended 31st March, 1901 . — i

JAMES B. HEYWOOD, Secretary to the Treasury. BOBERT J. COLLINS, Accountant to the Treasury.

19OO-I9OI. EXPENDITURE. 19O1-19C 02. £ s. d. ■ £ s - A - 74,296 0 0 Brought forward Town Boards— Clyde .. .. .. •■ •• •• 300 0 1 Haloombe .. .. .. .. •• 300 0 0 Otautau .. .. .. •■ •• •• 210 0 0 360 0 0 Waipawa Drainage Boardfi — 2,000 0 0 Aorangi .. .. •• ■• •• •■ 100 0 0 Berwick .. .. .. .. ■• •• 400 0 0 200 0 0 I Mangahoe .. .. . • ■ • • • • • 300 0 0 Maungatua .. .. ... .. •• •• 800 0 0 Otakia .. .. .- •■ ■■ •• 200 0 0 ' £ s. d. 135,471 0 0 810 0 0 1,800 0 0 2,200 0 0 River Boards — 5,000 0 0 Olive Henley .. .. .. .. •■ •■ 500 0 0 5,000 0 0 Hutt .. .. .. .. •• ■• 5 . 000 0 0 5,500 0 0 10,000 0 0 : Water-supply Boards Manukau .. .. .. ■• •• •■ Grants under "The Government Loans to Local Bodies Act Amendment Act, 1898" — Counties — 3,000 0 0 Wairarapa South Boroughs— ■200 0 0 Akaroa .. .. .. .. •• •• 3,100 0 0 26,400 0 0 Hawera Lyttelton .. .. .. •• •• ■• .10.000 0 0 19,500 0 0 Masterton .. .. .. •• •• •• 2,000 0 0 2,000 0 0 Palmerston Petone .. .. .. •• ■• •• 2,500 0 0 Stratford .. .. .. •• •• •• 3,600 0 0 Westport .. .. .. •• ■• •• 9.000 0 0 Whangarei .. .. ... •• •• ■• 10,100 0 0 Woodville .. .. ■• •• 3,650 0 0 . 48,100 0 0 19,000 0 0 2,000 0 0 43,950 0 0 Water-supply Boards— 1,000 0 0 Manukau Appropriations,— 37,390 5 4 Vote 111.—Roads to open up Crown lands Balance at end of year,— 20,881 9 0 Cash in the Public Account .. .. .. •• •• 1,254 6 11 Advances in hands of Officers of the Government, — 7,091 2 6 In the Colony .. .. .. •• •• •• 1,515 10 4 27,972 11 6 £204,318 16 10 Totals .. .. .. •• ■• •• i 208,531 0 0 31,978 10 8 2,769 17 3 £243,279 7 11 \ £243,279 7 11

19OO-19O1. EXPENDITURE. 19O1-19O2. £ s. d. £ s. d. £ s. d. Amount paid over to Government Advances to Settlers Office Account — 240,000 0 0 In respect of 3-per-oent Stock sold .. .. .. .. ■• 140,000 0 0 ! In respect of Temporary Advances .. 226,333 6 8 180,000 0 0 380,000 0 0 Temporary advances repaid 406,333 6 8 320,000 0 0 £380.000 0 0 Total £380,000 0 0 £726,333 6 8

16

8.—6.

SUMMARY of BALANCES on 31st MARCH, 1902.

Balances. Cash. Advances. Investments. Total. £ s. a. ■ £ s. a. £ s. a. £ s. d. £ s. d. £ s. d. Consolidated Fund :— Ordinary Revenue Account .. 9' State Forests Account .. i Accounts of Local Bodies .. ] Deposit Accounts .. .. 2] 970,488 17 9* 38,677 0 1 17,712 7 1 216,973 15 2 170,488 38,677 17,712 116,973 ,243,852 0 1 J" Consolidated Fund :— Ordinary Revenue Account State Forests Account Accounts of Local Bodies Deposit Accounts 858,625 4 9 38,299 8 2 17,700 14 8 128,303 1 10 61,863 13 0 377 11 11 11 12 5 88,670 13 4 50,000 0 0 970,488 17 9 38,677 0 1 17,712 7 1 216,973 15 2 1,243,852 0 1 1,042,928 9 5 150,923 10 8 50,000 0 0 Public Works Fund 454,059 8 0 Public Works Fund 405,922 16 5 j 48,136 11 7 454,059 8 0 •• Cheviot Estate Account Land for Settlements Account Conversion Account Loans to Local Bodies Account New Zealand Consols Account Totals 16,860 14 8 382,692 6 3 4,703 12 9 2,769 17 3 468,324 7 1 Cheviot Estate Account , Land foe Settlements Account Conversion Account Loans to Local Bodies Account New Zealand Consols Account I 16,860 14 8 32,070 19 1 901 0 8 1,254 6 11 224 7 1 621 7 2 3,802 12 1 1,515 10 4 350,000 0 0 16,860 14 8 382,692 6 3 4,703 12 9 2,769 17 3 468,324 7 1 468,100 0 0 2,573,262 6 1 Totals 204,999 11 10 868,100 0 0 1,500,162 14 3 2,573,262 6 1 * Against this Treasury Bills amounting to £700,000 are outstanding.

8.—6.

Table No. 2. COMPARATIVE STATEMENT of the Estimated and Actual Receipts and Expenditure of the Consolidated Fund (Revenue Account) for the Financial Year ended 31st March, 1902.

£ s. d. £ s. d. Surplus, 31st March, 1901 .. .. .. .. 532,564 8 11 Less— Amount applied in aid of Public Works Fund .. .. 500,000 0 0 32,564 8 11 Actual receipts, 1901-2 .. .. 6,152,839 1 0 Actual expenditure, 1901-2 .. .. .. .. 5,895,914 12 2 256,924 8 10 Debentures paid off out of Consolidated Fund .. .. 19,000 0 0 237,924 8 10 Surplus at 31st March, 1902 .. .. .. £270,488 17 9 3—B. 6.

17

DlFFEBENCES. Estimated. Actual. More Less than Estimate, than Estimate. RECEIPTS. Revenue Account :— Customs Railways Stamps Land-tax Income-tax Beer Duty Registration and Pees Marine Miscellaneous Territorial Revenue £ s. d. 2,110,000 0 0 1,760,000 0 0 903,500 0 0 305,000 0 0 175,000 0 0 86,000 0 0 76,000 0 0 26,200 0 0 127,300 0 0 270,000 0 0 £ s, d. 2,201,116 1 7 1,869,488 13 6 908,671 8 0 312,835 9 11 179,397 7 7 90,233 9 6 76,491 15 11 31,456 0 11 133,760 13 1 249,619 1 6 £ s. d. 91,116 1 7 109,488 13 6 5,171 8 0 7,835 9 11 4,397 7 7 4,233 9 6 491 15 11 5,256 0 11 6,460 13 1 £ s. d. 20,380 18 6 5,839.000 0 0 57,000 0 0 6,053,070 1 6 57,000 0 0 234,451 0 0 Sinking Fund Increases 234,451 0 0 20,380 18 6 20,380 18 6 Recoveries in respect of Expenditure of previous years 214,070 1 6 42,768 19 6 42,768 19 6 Totals 5,896,000 0 0 6,152,839 1 0 256,839 1 0 EXPENDITURE. Revenue Account :— Permanent Appropriations,— Civil List Interest and Sinking Fund Under Special Acts Subsidies paid to Local Bodies Territorial Revenue paid over Endowments Old-age Pensions Annual Appropriations, — Legislative Colonial Secretary Colonial Treasurer Minister of Justice Postmaster-General Commissioner of Trade and Customs Commissioner of Stamps Minister of Education Lunacy and Charitable Department of Labour Minister of Mines Minister for Agriculture Working Railways Public Buildings Defence Department Police Department Department of Lands and Survey Valuation Department Rates on Crown Lands Services not provided for £ s. d. 33,100 0 0 1,819,225 0 0 211,155 0 0 66,500 0 0 35,000 0 0 54,500 0 0 215,000 0 0 22,300 0 0 234,839 0 0 47,728 0 0 134,950 0 0 451,345 0 0 93,062 0 0 27,091 0 0 516,396 0 0 69,544 0 0 10,040 0 0 28,071 0 0 97,014 0 0 1,185,352 0 0 47,800 0 0 217,677 0 0 122,866 0 0 131,689 0 0 25,658 0 0 800 0 0 £ s. d. 32,258 9 1 1,803,939 2 4 198,455 0 10 63,470 3 10 30,483 2 7 61,594 10 4 207,468 8 5 22,382 8 2 229,717 7 2 41,537 0 1 131,456 13 7 463,817 2 0 89,404 14 8 27,106 5 2 502,872 15 6 65,343 4 8 9,932 14 10 21,158 18 5 101,284 12 9 1,280,771 10 8 47,852 5 9 193,183 18 8 120,932 9 7 120,180 3 1 25,407 2 3 418 0 9 3,486 7 0 £ s. d. 7,094 10 4 82 8 2 12,472 2 0 15 5 2 £ s. d. 841 10 11 15,285 17 8 12,699 19 2 3,029 16 2 4,516 17 5 7,531 11 7 5,121 12 10 6,190 19 11 3,493 6 5 3,657 5 4 13,523 4 6 4,200 15 4 107 5 2 6,912 1 7 4,270 12 9 95,419 10 8 52 5 9 24,493 1 4 1,933 10 5 11,508 16 11 250 17 9 381 19 3 3,486 7 0 122,893 1 10 125,680 9 8 122,893 1 10 Totals 5,898,702 0 0 5,895,914 12 2 2,787 7 10

8.—6.

Table No. 3. The PUBLIC DEBT of NEW ZEALAND on 31st March, 1902.

18

Annual Charge . I Amount outstanding. Due Date. Sinking Funds ACCRUED. Indebtedness. When payable. Remarks. Rate Int. j S.F. Amount. £ 266,300 ' 15 July, 1914 £ 137,880 £ 128,420 o/ /o 5 % 1 £ 15,978 15 Jan. and 15 July. New Zealand Loan Act, 1863 .. .. • ■ Consolidated Loan Act, 1867 288,400 Ann. drawing 288,400 5 14,420 Quarterly, 15 Jan., &c. Immigration and Public Works Loan Act, 1870 .. I 1,000,000* 1 June, 1907 705,703 294,297 4 2-4 64,000 1 June and 1 Dee. Sinking Fund payable 13 Mar. and 13 Sept. Canterbury Loan Ordinance, 1862 .. j 3,800 12,200 I 16,000 j 2 Jan., 1915 { 2 July, 1916 } 13,470 2,530 6 1 1,120 30 June . 31 Dec. ♦Only £200,000 has actually been issued to the public; the unsold debentures are available for the purpose of obtaining temporary advanoes from time to time. Consolidated Loan Act, 1867 13,000 15 April, 1913 13,000 4 520 15 April „ 15 Oct. Immigration and Public Works Loan Act, 1870 j Defence and Other Purposes Loan Act, 1870 j General Purposes Loan Act, 1873 .. •! District Bailways Purchasing Acts, 1885-86 j 363,000 27,900 25,000 75,000 17,400 10,800 54,700 40,000 97,100 J 390,900 [ 100,000 1 82,900 I 137,100 115 April, 1913 115 April, 1913 I Uuly, 1910 115 April, 1913 (15 Oct., 1913 \ 15 May, 1914 (28 Nov., 1914 I 1 July, 1909 { 1 April, 1905 363,000 27,900 25,000 75,000 17,400 10,800 54,700 40,000 97,100 4 i 4 4 5 6 4 14,520 1,256 1,125 3,000 696 432 2,735 2,400 3,884 15 April „ 15 Oct. 15 April „ 15 Oct. 30 June „ 31 Dec. 15 April „ 15 Oct. 15 April „ 15 Oct. 15 May „ 15 Nov. 15 May „ 15 Nov. I 1 April „ 1 Oct. Government Loans to Local Bodies Act, 1886 Consolidated Stock Act, 1877 .. .. \ Consolidated Stock Act, 1884— 29,150,302 6,161,167 8,032,957 250,300 1 43,344,426 1 Sept., 1907 ( 1 Nov., 1929 -I 1 Jan., 1940 ( 1 April, 1945 250,300 29,150,302 6,161,167 8,032,957 3J 4 3 t 31,104 1,166,012 215,641 240,988} 1 Mar. „ 1 Sept. 1 May „ 1 Nov. 1 Jan. „ 1 July 1 April „ 1 Oct. fThe Sinking Fund is payable on £1,744,100 (1J per cent, on £1,354,514, 1 per cent. on £15,675, and J per cent, on £373,911); the Land Assurance Fund is also charged with J per cent, as a contribution towards Sinking Fund. I£82,200 of this amount will be recouped by the Government Advances to Settlers Office. Colonial Issue .. .. .. j 214,500 509,500 I 724,000 ( 1 Sept., 1905 \ 31 Dec, 1907 I 724,000 3i 25,340 1 Mar. , 1 Sept. Native Land Purchases Act, 1892 (Renewed under the Aid to Public Works and Land Settlement Act, 1899) 125,000 31 Oct., 1906 125,000 3J 4,375 30 April „ 31 Oct. Land for Settlements Act, 1892 (Renewed under the Land for Settlements Acts Amendment Act, 1899) 45,276 31 Oct., 1906 45,276 1,585 30 April „ 31 Oct. 3* Carried forward 46,783,602 1,811,131 857,053 45,926,549

8.—6.

Table No. 3 — continued. The PUBLIC DEBT of NEW ZEALAND on 31st March, 1902— continued.

19

Amount outstanding. Dun Date. Sinking Funds accrued. Net Indebted- „ ness. Kl Int. I 1 Annual Charge. e. When payable. Remarks. ,te. S.F. £. 46,783,602 £ 857,053 45,926,549 % % £ 1,811,181 Brought forward •• 30 April and 31 Oct. 1 April „ 1 Oct. 1 April „ 1 Oct. 1 April „ 1 Oct. 1 April „ 1 Oct. 1 April „ 1 Oct. 1 May „ 1 Nov. 1 May „ 1 Nov. 1 Feb. „ 1 Aug. 31 Mar. . 30 Sept. 31 Mar. „ 30 Sept. f Land for Settlements Acts, 1894,1897, 1899, and j 1900 769,490 349,000 62,000 260,100 56,000 10,000 527,950 21,000 338,200 1 !-2,393,740 f 31 Oct., 1906 I 1 April, 1909 1 April, 1909 1 April, 1902 -J 1 April, 1905 1 April, 1906 1 May, 1904 1 Nov., 1904 t 1 Feb., 1905 769,490 349,000 62,000 260,100 56,000 10,000 527,950 21,000 338,200 I 283,000 "( 117,000 3| 4 4 4 4 4 4 26,932 13,088 2,170 10,404 2,240 350 21,118 840 13,528 11,320 4,095 I ] Lands Improvement and Native Lands Acquisition Aot, 1894 400,000 30 Sep., 1908 New Zealand Consols Aot, 1894 r 500,000 15,000 150,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 65,000 465,000 500,000 250,000 438 843 500 468,324 1 Feb., 1910 C15 Aug., 1921* 31 Oct., 1903 4 Jan., 1904 15 Jan., 1905 15 Feb., 1905 15 Mar., 1905 17 April, 1905 15 May, 1905 "* 15 June, 1905 16 July, 1905 15 Aug., 1905 15Sept.,1905 15 Oct., 1905 1 Apr., 1903 1 Apr., 1904 (. 1 Dec, 1904 ( 1 Aug., 1908 \ lJan., 1911 [ 1 Jan., 1916 1 Feb., 1911 1 Jan., 1909 468,324 500,000 15,000 150,000 34 31 16,391 17,500 525 5,250 1 Feb. „ 1 Aug. 15 Feb. „ 15 Aug. 1 Feb. „ 1 Aug. 1 Feb. „ 1 Aug. I 500,000 [ 465,000 "Loan may be paid off at any time after 15th February 1907, on six months' notice being given. Aid to Public Works and Land Settlement Acts, 1896, 1897,1898, 1899, 1900, and 1901 2,845,000 H 17,500 16,275 23 April „ 23 Oct. f One-quarter per cent, over bank rate: varying interest, calculated at 3J per cent. s 31 Mar. „ 30 Sept. Dairy Industry Act, 1898 .. .. j 465,000 500,000 250,000 4 4 . 18,600 20,000 10,000 1 April „ 1 Oct. 1 April „ 1 Oct. 1 June „ 1 Dec. Government Accident Insurance Act, 1898 Local Bodies' Loans Act, 1901 1,781 2,000 72,000 [ 1,781 2,000 72,000 52,109,394 271,763 3i 3i 62 70 2,520 1 Feb. „ 1 Aug. 1 Feb. „ 1 Aug. 1 Mar. „ 1 Sept. I Eepresents the accrued Sink ing Fund in respect of the total amount issued under " The Government Loans to Local Bodies Act, 1886," of which £1,421 ,800 has been converted into Consolidated Stock. Less accrued Sinking Fund in respeot of the Government Loans to Local Bodies Acts 271.763J Totals 52,966,447 -I 1,128,816 51,837,631 2,041,909 Treasury bills amounting to £700,000 are not included.

8.— 6.

Table No. 4. STATEMENT of the Estimated Liabilities chargeable on the Consolidated Fund (Revenue Account) outstanding on the 31st March, 1893, 1894, 1895, 1896, 1897, 1898, 1899, 1900, 1901, and 1902.

20

Slst March, 1893. (1st March, 1894. 31st March, 1895. 31st March, 1896. 31st March : 1897. 31st March, 1898. 31st March, 1899. 31st March, 1900. 31st March, 1901. 31st March, 1902. Revenue Account. Permanent Appropriations, — _." Civil List .. .. Under Special Acts of the Legislature Subsidies payable to Local Authorities Under the Land Acts, payable to Local Authorities £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. 150 0 0 370 0 0 370 0 0 437 0 0 350 0 0 894 11 8 950 0 0 ' 991 15 0 505 0 0 193 6 6 82 0 0 22 18 10 - 22 18 10 9 4 6 155 2 0 163 4 6 I 214 8 0 731 14 11 930 1 4 881 7 0 1,042 0 0 897 16 4 I 897 16 4 I 959 3 10 1,170 3 0 651 15 0 j i 631 5 0 160 17 11 867 12 6 136 18 0 313 1 0 2,693 6 1 3,967 6 1 I 2,553 2 1 : 3,843 17 3 2,553 2 1 I 2,553 2 1 2,553 2 1 4,228 7 1 2,553 2 1 1,824 17 2 1,824 0 6 1,757 0 1 1,757 0 1 3,328 19 5 1,757 0 1 ; 3,843 17 3 3,958 10 5 4,262 13 3 3,620 10 2 1,984 18 5 4,348 2 6 3,744 14 7 Annual Appropriations,— Legislative Colonial Secretary Colonial Treasurer Minister of Justice Postmaster-General Commissioner of Customs Commissioner of Stamps Minister of Education Minister of Labour Minister of Native Affairs Minister of Mines Minister for Agriculture Working Railways Public Buildings Minister of Defence* Minister of Lands Rates on Crown Lands Valuation Department 16 6 6 1,456 18 7 136 2 6 2,477 16 4 10,426 2 5 2,954 0 0 618 4 8 3,267 12 5 ; 222 10 0 10 13 0 3,081 17 6 ! 2,689 17 9 100 0 0 150 0 0 5,109 5 7 2,525 6 2 12,601 13 2 ! 19,460 0 0 2,584 13 7 ! 2,837 0 1 207 17 10 : 282 17 0 3,734 19 11 : 2,333 8 7 15 17 7 3,876 19 10 23 9 0 3,974 13 2 15,912 0 0 3,936 1 8 219 2 7 1,268 8 9 6,430 5 9 2,550 0 0 3,590 0 0 17,452 0 0 3,469 1 2 451 2 0 1,361 4 7 ! 87 4 11 45 5 10 3,083 0 0 2,247 17 3 812 6 11 50 0 0 3,605 0 0 3,789 12 2 22,689 3 2 17,830 0 0 6,218 8 4 4,564 12 3 346 -1 0 745 3 11 418 0 0 651 17 4 33 19 4 6,583 4 6 70 0 0 2,397 14 3 21,247 0 0 4,646 10 9 529 16 8 1,970 19 7 51 1 2 12,893 9 7 2,653 0 0 2,542 4 7 28,276 0 0 5,750 17 1 506 14 2 1,724 2 11 112 19 6 85 11 8 10,604 5 US 87 0 4' 2,155 10 5 34,029 0 0 3,662 1 1 1,054 9 7 1,411 10 7 390 14 2 150 0 0 3,357 2 0 76 14 11 57 7 4 1,815 4 4 ! 1,936 10 7 56,669 5 0 J 61,912 6 2 742 10 0 413 12 3 1,875 0 0 j 1,000 0 0 8,000 1 2 ' 6,535 0 0 138 8 4 184 4 7 815 10 5 2,037 4 3 52,542 7 4 108 14 4 4,000 0 0 6,659 0 0 100 0 0 213 10 10 2,266 17 3 65,971 3 1 181 14 9 3,463 0 0 4,142 10 9 60 0 0 149 19 7 56 2 8 2,521 16 10 2,633 18 10 74,818 16 6 66,169 16 11 2,556 5 4 7,580 0 0 4,500 0 0 15,008 10 10 : 10,175 11 4 735 18 4 460 0 0 42 9 0 4,335 1 5 74,911 6 6 185 0 0 9,925 0 0 4,908 10 5 838 7 9 600 0 0 6 0 11 3,202 6 2 90,777 9 3 81 0 0 44,050 0 0 9,587 1 9 280 0 4 980 0 0 2,033 16 0 3,673 5 6 I 95,972 4 10 312 16 6 I 21,856 8 9 j 2,131 2 4 j 278 9 1 i 836 17 11 ; 55,399 16 1 665 0 0 8,800 0 0 4,282 0 0 444 0 0 94,451 1 6 96,960 1 4 102,328 3 6 814 2 9 420 4 9 95,489 8 11 111,602 10 2 139,894 13 5 114,655 16 10 133,225 0 2 203,474 7 5 ] 180,573 4 8 Services not provided for 522 8 0 3 7 6 25 0 0 ! 1 Totals 98,418 7 7 101,618 1 4 106,706 18 8 99,717 16 0 116,387 11 5 206,828 6 10 184,319 19 3 143,515 3 7 116,640 15 3 137,576 10 2 • Includes }'olie< liabilities

8.—6.

Table No. 5. STATEMENT of the Estimated Liabilities chargeable on the Public Works Fund outstanding on the 31st March, 1893, 1894, 1895, 1896, 1897, 1898, 1899, 1900, 1901, and 1902.

STATEMENT of the Estimated Liabilities chargeable on the undermentioned Accounts outstanding on the 31st March, 1894, 1895, 1896, 1897, 1898, 1899, 1900, 1901, and 1902.

21

31st March, 1893. 31st March, 1894. 31st March, : 31st March, 1895. 1896. 31st March, 1897. 31st March, 1898. 31st March, ' 31st March, 1899. 1900. 31st March, 1901. 31st March, 1902. ' ______ Annual Appropriations — Immigration Railways Roads Waterworks on Goldfields Telegraph Extension Tourist and Health Resorts Public Buildings Lighthouses and Harbour-works Rates on Native Lands Contingent Defence. Miscellaneous £ s. d. £ s. d. £ s. a. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. 248 0 0 101,436 0 0 104,581 9 7 1,795 17 8 6,716 0 0 103,344 1 8 116,237 18 10 900 0 0 9,581 0 0 127,972 16 10 96,998 2 11 60,101 7 10 34,886 17 0 7,860 19 7 15,265 10 10 13.987 0 0 4,000 0 0 106,312 8 4 85,552 6 0 29,910 16 10 16,283 0 0 77,167 7 4 268,798 12 2 7,135 6 7 11,722 0 0 155 19 4 I 77,870 15 4!l03,638 4 6 310,764 9 3 316,562 16 9 6,625 15 8' 5,375 9 5 i 20,273 0 0 591,995 19 0 447,388 4 5 2,010 15 0 26,989 0 0 113,537 8 2 100,224 16 3 8,116 5 7 43,873 0 0 2,579 5 6 27,812 6 11 902 9 1 370 19 8 17,832 13 2 1,025 3 0 13,635 0 0 763 0 0 185 0 0 12,407 0 0 954 0 0 185 9 7 29,336 15 11 33,044 18 3 3,626 8 3 6,573 19 2 287 14 5 110 0 0 24,180 7 10 1,884 2 2 110 0 0 11,550 0 0 14,806 5 2 3,229 12 9 439 1 2 11,129 0 0 28,030 0 0 44,346 9 _ 3,826 0 0 3,988 19 10 715 18 11 554 5 8 18,450 0 0 73,375 2 4 10,313 16 7 22 14 8 140,000 0 0 .. • • Totals 243,173 2 10 190,879 8 2' 229,360 7 3 ' 243,609 10 1 190,879 8 2 : 275,783 1 2 394,427 5 2 446,282 19 2|494,895 4 10 1,292,095 12 0 316,274 7 4

31st March, 1894. 31st March, 1895. 31st March, 31st March, 1896. 1897. 31st March, 31st March, 1898. 1899. 31st March, 1900. 31st March, 1901. 31st March, 1902. £ s. d. £ s. d. £ s. A. £ s. d. State Forests Account Cheviot Estate Account Land for Settlements Account Loans to Local Bodies Account Lands Improvement Account Native Lands Purchase Account .. £ s. d. ! £ s. a. £ s. d. £ s. d. £ s. d. 3,000 0 0 2,4o6' 0 0 400 0 0 101,121 0 0 574 9 7 454 19 7 723 17 7 130 0 0 3,492 16 0 160,171 19 9 104,951 15 11 21,833 16 1 ! 3,671 6 4 21,058 9 8 27,238 1 2 34,717 16 6 113,988 2 6 128,304 5 1* * 25,768 13 3 j 31,549 11 4 302 8 6 2,405 5 4 32,034 4 10 1,067 16 0 4,820 11 0 33,259 0 4 * 251 16 4 990' 4 3 1,125 5 5 '.'. 131,379' 9 2 24,137 7 2 * * * * Now included in Public Works Fund.

8.—6.

Table No. 6. STATEMENT showing the Total Ways and Means of the Public Works Fund and the Total Net Expenditure to the 31st March, 1902.

22

WAYS AND MEANS. NET EXPENDITURE. Expenditure on — £ p. d. Immigration .. .. .. .. .. 2,147,858 10 6 Publio Works, Departmental .. .. .. 477,087 7 11 Railways, including Surveys of New Lines .. 18,501,966 11 10 Roads .. .. .. .. .. 5,966,209 6 7*1 Land Purchases .. .. .. .. 1,983,230 18 10 Development of Goldfields .. .. .. 701,678 14 7 Telegraph Extension .. .. .. .. 937,887 2 3 Public Buildings .. .. .. .. 2,655,249 9 6 Lighthouses, Harbour- works, and Defences .. 977,771 18 11 Contingent Defence .. .. .. .. 696,835 17 0 Rates on Native Lands.. .. .. .. 64,796 13 6 Thermal Springs .. .. .. .. 14,599 13 2 Tourists' and Health Resorts .. .. .. 11,260 0 10 Lands Improvement .. .. .. .. 1,741 7 10 Charges and Expenses of raising Loans .. .. 1,063,390 14 1 Coal-mines .. .. .. .. .. 10,835 8 0 Interest and Sinking Fund .. .. .. 218,500 0 0 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 Stook 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 Native Land Purchase Act, 1892 Lands Improvement and Native Lands Acquisition Act, 1894 Aid to Public Works and Land Settlement Acts Temporary, advances on security of short-dated debentures £ s. d. 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 0 479,487 7 11 1,000,000 0 0 149,700 0 0 £ s. a. £ s. d. 2,147,858 10 6 477,087 7 11 18,501,966 11 10 5,966,209 6 7* 1,983,230 18 10 701,678 14 7 937,887 2 3 2,655,249 9 6 977,771 18 11 696,835 17 0 64,796 13 6 14,599 13 2 11,260 0 10 1,741 7 10 1,063,390 14 1 10,835 8 0 218,500 0 0 £ s. a. 500,000 0 0 4,348,180 12 6 10,899 15 4 465,000 0 0 Receipts in Aid: — Amount transferred from Consolidated Fund Contributions of Canterbury Province for Railways.. Stamp Duties to 31st December, 1876 Transfer from Confiscated Lands Liabilities Account Proceeds of Railway Material handed over to Cook County Council Special Receipts under section 9 of " The Railways Construction Act, 1878 " Special Receipts under the Ellesmere Lake Lands Acts, 1888 and 1893 Special Receipts under " The Railways Authorisation and Management Act, 1891" Special Receipts under " The North Island Main Trunk Railway Loan Application Act, 1886 " Sinking Funds released .. I 32,717,368 0 5 3,205,000 0 0 56,000 0 0 264,657 16 4 19,963 1 3 J • 4,963 7 4 60,616 3 0 29,732 9 0 2,257 1 9 • Balance on 31st March, 1902, — Cash in the Public Account .. .. .. 405,922 16 5 Advances in the hands of officers of the Government 48,136 11 7 17,581 5 0 506,819 19 3 4,167,591 2 11 454,059 8 0 £36,884,959 3 4 i £36,884,959 3 4 * Has been redi eed by £89,800 received under section 31 if " The Government Loans to Local Bodies Act, 1886."

B.—6

23

Table No. 7. STATEMENT showing the Amount charged to Unauthorised in each Financial Year from 1st July, 1875, to 31st March, 1902.

By Authority: John Mackay, Government Printer, Wellington.—1902.

Financial Year. Consolidated Fund.—Kevenue Account. i ' Other i Public Wokks Accounts. Fund. ruE Account. Other Accounts. Public Wokks Fund. Total. 1875-76 .. 1876-77 .. 1877-78 .. 1878-79 .. 1879-80 .. 1880-81 .. 1881-82 .. 1882-83 .. 1883-84 .. 1884-85 .. 1885-86 .. 1886-87 .. 1887-88 .. 1888-89 .. 1889-90 .. 1890-91 .. 1891-92 .. 1892-93 .. 1893-94 .. 1894-95 .. 1895-96 .. 1896-97 .. 1897-98 .. 1898-99 .. 1899-1900 .. 1900-1901 .. 1901-1902 .. Services not pro- ExcesB o f Votes. Total, vided for. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. 13 167 4 8 19,195 17 1 32,363 1 9 3,155 9 2 63,875 11 8 18'397 17 1 13,398 7 0 31,796 4 1 3,490 6 1 2,197 4 5 19*079 12 6 58,709 17 2 77,789 9 8 653 6 5 22,009 14 0 11 413 16 1 47,466 4 5 58,880 0 6 3,938 14 8 32,179 1 1 5*818 9 9 18,466 2 1 24,284 11 10 1,005 3 10 17,096 9 9 6*151 13 9 37,825 6 6 43,977 0 3 13,443 11 3 34,133 17 3 3*899 16 3 38,474 18 9 42,374 15 0 13,590 6 10 2,217 9 8 4 473 15 8 64,631 0 2 69,104 15 10 12,343 2 2 8,137 17 11 " 7*293 9 9 45,284 2 6 52,577 12 3 9,003 18 7 31,74117 10 5*981 17 8 39,039 17 11 45,021 15 7 7,163 15 3 872 0 11 9 337 11 2 47,106 10 3 56,444 1 5 13,965 10 1 6,465 17 5 14*337 19 7 38,117 13 5 52,455 13 0 6,212 16 7 28,633 10 8 7 303 17 10 42 104 15 10 49,408 13 8 27,821 16 11 30,407 2 3 3*521 18 2 35,157 16 5 38,679 14 7 13,506 2 8 18,633 2 10 4*412 5 3 43,257 1 0 47,669 6 3 23,631 7 1 12,287 18 10 10 610 1 0 76,778 5 11 87,388 6 11 5,459 18 11 7,097 19 9 2*288 3 2 21,026 16 4 23,314 19 6 9,183 10 6 7,594 1 2 1*741 7 10 28,283 15 11 30,025 3 9 4,754 17 10 11,149 14 2 2*350 7 0 7,376 7 4 9,726 14 4 522 12 2 1,335 12 11 8*985 3 7 9,148 0 5 18,133 4 0 1,890 7 5 330 8 1 22 422 16 10 16,229 5 9 38,652 2 7 16,995 9 9 33,245 2 4 3 188 17 7 24,195 2 9 27,384 0 4 24,726 3 6 7,051 0 8 2*258 19 7 39,314 13 4 41,573 12 11 4,743 17 10 53,648 14 0 3*305 15 11 36,468 0 10 39,773 16 9 2,304 8 10 8,222 10 6 11187 13 8 60,652 13 7 71,840 7 3 .. 7,990 18 7 26 367 18 6 62,788 3 2 89,156 18 662 7 7 17,518 3 7 3 836 7 0 68,866 10 9 72,702 17 9 253 8 10 6,955 4 10 Total. £ s. d. 32,363 1 9 31,796 4 1 77,789 9 8 58,880 0 6 24,284 11 10 43,977 0 3 42,374 15 0 69,104 15 10 52,577 12 3 45,021 15 7 56,444 1 5 52,455 13 0 49,408 13 8 38,679 14 7 47,669 6 3 87,388 6 11 23,314 19 6 30,025 3 9 9,726 14 4 18,133 4 0 38,652 2 7 27,384 0 4 41,573 12 11 39,773 16 9 71,840 7 3 89,156 1 8 72,702 17 9 £ s. d 3,155 9 2 3,490 6 1 653 6 5 3,938 14 8 1,005 3 1C 13,443 11 a 13,590 6 1C 12,343 2 S 9,003 18 1 7,163 15 i 13,965 10 ] 6,212 16 ■; 27,821 16 1] 13,506 2 t 23,631 7 ] 5,459 18 1] 9,183 10 ( 4,754 17 1( 522 12 i 1,890 7 I 16,995 9 i 24,726 3 ( 4,743 17 II 2,304 8 II 662' 7 ' 253 8 li \. £ s. d. 2 63,875 11 8 1 2,197 4 5 5 22,009 14 0 8 32,179 1 1 0 17,096 9 9 3 34,133 17 3 0 2,217 9 8 2 8,137 17 11 7 31,741 17 10 3 872 0 11 1 6,465 17 5 7 28,633 10 8 1 30,407 2 3 8 18,633 2 10 1 12,287 18 10 .1 7,097 19 9 6 7,594 1 2 .0 11,149 14 2 2 1,335 12 11 5 330 8 1 9 33,245 2 4 6 7,051 0 8 10 53,648 14 0 L0 8,222 10 6 7,990 18 7 7 17,518 3 7 L0 6,955 4 10 £ s. d. 99,394 2 7 37,483 14 7 100,452 10 1 94,997 16 3 42,386 5 5 91,554 8 9 58,182 11 6 89,585 15 11 93,323 8 8 53,057 11 9 76,875 8 11 87,302 0 3 107,637 12 10 70,819 0 1 83,588 12 2 99,946 5 7 40,092 11 2 45,929 15 9 11,584 19 5 20,353 19 6 88,892 14 8 ! 59,161 4 6 I 99,966 4 9 j 50,300 16 1 79,831 5 10 107,336 12 10 ' 79,911 11 5