CONTENTS.
Pagh INTRODUCTORY .. .. .. .. .. .. .. .. i REVENUE FOB 1907-8 .. .. .. .. .. .. .. i EXPENDITUBB FOB 1907-8 .. .. .. .. .. .. .. ii RESULTS OF THE YEAR 1907-8 .. .. .. .. .. .. .. iii TBEASUBY BILLS .. .. .. .. .. iii PUBLIC WOBKS FUND .. .. .. .. .. .. .. ..iii CONVERSION ACCOUNT .. .. .. ... .. .. .. ..iii LOANS TO LOCAL BODIES ACCOUNT .. .. .. .. .. .. iv PUBLIC DEBT .. .. .. .. .. .. .. .. iv LOANS MATURED.. .. .. .. .. .. .. .. v RESERVE FUND SECURITIES .. .. .. .. .. .. .. v CUSTOMS .. .. .. .. .. .. .. .. .. v LAND AND INCOME TAX .. .. .. .. .. .. .. .. vi POST AND TELEGRAPH DEPARTMENT .. .. .. .. .. vi TELEGRAPH AND TELEPHONE EXTENSION .. .. .. .. .. vi ADVANCES TO SETTLERS AND WOBKEES .. .. .. .. .. .. vii LAND BEVENUE .. .. .. .. ... .. .. •.. ..vii LAND FOR SETTLEMENTS .. .. ~ .. .. .. .. ..vii PUBLIC SERVICE CLASSIFICATION .. .. .. .. .. .. ..vii PUBLIC SERVICE SUPEBANNUATION .. .. .. .. .. .. viii NATIVE LAND COUBT .. .. ... .. .. .. .. .. viii MAOBI LAND BOARDS .. .. .. .. .. .. .. .. ix MINING, .. .. .. .. .. .. .. .. .. ix CHEAP CABLES .. .. .. . ..- * .. .. ... .. .. x ADOPTION OF POST AUDIT.. .. .. .. .. .. .. .. x WELLINGTON.MANAWATU RAILWAY .. .. .. .. .. .. x BRITISH NAVY .. .. .. .. .. .. .. .. .. xi ADVANCES TO SETTLERS .. .. .. .. .. .. .. xi ADVANCES TO WORKERS .. .. .. .. .. .. .. .. xii SUPERANNUATION .. ... .. .. .. .. .. ..xii NATIONAL SUPEBANNUATION .. .. .. .. .. .. ..xii LOCAL BODIES SUPEBANNUATION .. .. .. .. .. .. .. xiii SPECIAL LAND-SETTLEMENT .. .. .. ' .. .. .. .. xiii LOANS TO LOCAL AUTHORITIES .. .. .. .. .. .. .. xiv ROADING .. .. .. .. .. .. .. .. ..xv IRRIGATION .. .. .. .. .. .. .. .. ..xv RAILWAY-CONSTRUCTION .. .. .. .. .. .. .. .. xv RESTORING PARLIAMENTARY BUILDINGS .. .. .. .. .. .. xvi INDUSTRIAL MATTEBS .. .. .. .. .. .. .. .. xvi LOANS MATURING .. .. .. .. .. .. .. .. xvii WOOL-MARKET .. .. .. .. .. .. .. .. .. xvii FINANCE FOR 1908.. .. .. .. .. .. .. .. .. xviii EXPENDITURE .. .. .. .. .. .. .. .. .. xviii REVENUE .. .. .. .. .. .. .. .. .. xix ESTIMATED RESULTS .. .. .. .. .. .. .. .. xix ESTIMATES .. .. .. .. .. .. .. .. .. xx ADDITIONAL FUNDS .. .. .. .. .. .. .. .. xx RAILWAYS .. .. .. .. .. .. .. .. ..xx CONCLUSION .. .. .. .. .. .. .. .. ~ xxi
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1908. NEW ZEALAND.
FINANCIAL STATEMENT (In Committee of Supply, 7th July, 1908) BY THE MINISTER OF FINANCE, THE RIGHT HON. SIR J. G. WARD, P. C., K.C.M.G.
Mr. McKenzte, — The presentation of my Financial Statement this year is indeed a very pleasant duty, and I have again to congratulate the Committee and the country on the continued prosperity which we are enjoying. The progress which has characterized the Dominion since the Liberal party came into power in 1891 still continues. I took an early opportunity after the 31st March last to make the results of the year known to the country, and it was a great source of satisfaction to me to be able to announce that we had, after transferring £800,000 to the Public Works Fund, closed the year's accounts with a substantial credit balance of £767,849. The revenue for the year, as you are already aware, reached the sum of nine millions—a result that must be regarded as highly satisfactory, and emphatically demonstrating the progress of the Dominion. As the "Public Accounts for the year have been published, honourable members have no doubt made themselves acquainted with the figures. It is only necessary, therefore, for me to comment briefly on the various accounts before dealing with the proposals for the coming year. I purpose in this Statement to adhere principally to finance or matters closely allied therewith, and therefore I will not weary honourable members with details which will be found in departmental reports. EEVENUB. The revenue for the year just closed reached the record sum of £9,055,946, exceeding that of the previous year by £656,871. Every class of revenue, with one exception, has contributed to this splendid result: Customs show an increase of £162,525; Eailways, £143,999 ; and Stamps, £185,207. Compared with the previous year the details are as follows : — 1907-8. 1906-7. Increase. Decrease. £ £ £ £ Customs 3,103,565 2,941,040 162,525 Eailways 2,765,395 2,621,396 143,999 Stamps 1,550,934 1,365,727 185,207 Land-tax 537,846 447,342 90,504 Income-tax 304,905. 277,867 27,038 Beer duty 113,973 107,582 6,391 Registration and other fees 129,166 119,444 9,722 Marine 42,217 40,891 1,326 Miscellaneous 218,342 226,885 ... 8,543 Territorial revenue ... 289,603 250,901 38,702 665,414 8,543 8,543 Totals ... £9,055,946 £8,399,075 £656,871
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Dealing with the revenue as estimated, the results show an increase of £855,946. In framing last year's estimates it was considered prudent, in view of the concessions which it was proposed to make, and for other reasons stated at the time, to discount the previous year's revenue by the sum of nearly £200,000, and, though I recognised that my estimate was a very safe one, the wonderful resources of our country produced results beyond my most sanguine expectations. Of the increases Customs yielded no less a sum than £303,565, while Railways was responsible for an increase of i>215,395, and Stamps £210,934. . A comparative statement of revenue is as follows : — Difference. Estimated. Actual. More. Less. £ £ £ £ Customs ... ... 2,800,000 3,103,565 303,565 Eailways ... ... 2,550,000 2,765,395 215,395 Stamps „.. ... 1,340,000 1,550,934 210,934 Land-tax ... ... 515,000 537,846 22,846 . ... Income-tax ... ... 280,000 304,905 24,905 Beer duty ... ... 105,000 113,973 8,973 Registration and other fees 92,000 129,166 37,166 Marine... ... ... 41,000 42,217 1,217 Miscellaneous ... ... 221,000 218,342 ... 2,658 Territorial revenue ... 256,000 289,603 33,603 858,604 2,658 2,658 Totals ... £8,200,000 £9,055,946 £855,946
EXPENDITURE. Turning to the other side of the account I find the expenditure for the year amounted to £8,213,965, made up as follows : — £ Permanent charges ... ... ... ... ... 3,128,622 Departmental appropriations ... ... ... ... 5,085,343 or £439,039 more than the preceding year. Of this amount £90,602 has been spent under authority of special Acts, and £348,537 for departmental appropriations. It will be recognised that where the excess of revenue for the year was £855,946 an increased expenditure to produce it was to be expected, and the abnormal growth of the public business is at once its cause and its justification. Dealing with the permanent charges, I find interest is responsible for £15,327; payment to local authorities, £28,316; old-age pensions, £11,210; grant to Public Service Superannuation Board, £20,000. Of the excess in departmental appropriations, the Working Eailways cost us an additional £113,771, but to cover this they had an excess of revenue of £143,999 more than the previous year. Postal facilities required an additional £89,867, Education services needed £35,434, and Defence requirements are answerable for £23,661. The other chief increases were Marine and Harbours, £14,931; Labour Department, £12,799 ; Agriculture, £10,632 ; Police, £11,795 ; Industries and Commerce, £10,532. Comparing the estimated with the actual expenditure I find there was a saving of £20,986, made up as follows : — Estimated. Actual. £ £ Permanent appropriations ... ... ... 3,099,079 3,128,622 Departmental appropriations ... ... ... 5,135,872 5,085,343 Amount estimated ... .... ... ... 8,234,951 Actual amount expended ... ... ... 8,213,965 Difference ... ... ... ... ... £20,986 I have already mentioned that I was able to transfer to public works the sum of £800,000. This is the largest amount that has been transferred for this
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purpose in any one year, bringing up the total amount transferred from revenue in aid of public works since 1891 to £6,430,000, an amount which it would have been necessary to borrow had we not had such a buoyant revenue. In other words, had we not. been able to transfer this large sum from revenue we would have had to borrow £6,430,000 more than we have done, or to have reduced our public-works expenditure by that amount. The value of this course will be recognised when I say that interest at per cent, for one year on that sum would amount to £225,050, so that it may be justly said we are now saving at that rate per annum. RESULTS OF THE YEAR. The results of the transactions for the year may be summarised thus :— £ Balance brought forward, Ist April, 1907 ... ... ... ... 717,825 Receipts during year— Revenue ... ... *... £9,055,946 Other receipts ... ... ... 8,043 £9,063,989 Expenditure during year-— Appropriations ... ... ... 8,213,965 Excess of receipts over expenditure ... ... ... 850,024 1,567,849 Transfer Works Fund ... ... ... ... 800,000 Balance, 31st March, 1908 ... ... ... ... ... £767,849 It may be interesting to members at this stage to place before them the figures of the revenue and expenditure for the past five years for the purpose of comparison:— Excess of Year. Revenue. Expenditure. Revenue over Expenditure. £ £ £ 1907-8 9,055,946 8,213,965 841,981 1906-7 8,399,075 7,774,926 624,149 1905-6 7,584.359 7,122,340 462,019 1904-5 7,282,870 6,635,902 646,968 1903-4 7,021,386 6,434,281 587,105 The increase for five years in revenue is £2,034,560; the increase in expenditure, £1,779,684. TREASURY BILLS. It is very gratifying to me to be able to inform honourable members that I was able to see my way to further reduce the Treasury bills, which stood for so many years at £700,000, by the sum of £150,000. this, with the £150,000 paid off last year, making £300,000 in all, and leaving £400,000 outstanding on the 31st March last. PUBLIC WORKS EOND. This account had a balance of £359,400 to start the year with. £864,600 came to credit from loan-moneys ; £13,514 from premiums on sale of debentures ; £800,000 from Consolidated Fund; and from other receipts £1,640; making the total available for ways and means, £2,039,154. The expenditure out of these moneys amounted to £1,886,591, leaving a balance of £152,563 to the credit of the account. I would point out that the charges and expenses of raising loanmoneys amounted to £5,027, and that the premiums received not only paid the whole of the charges and expenses, but gave us a credit balance beyond that of £8,487. CONVERSION ACCOUNT. The dealings in the Conversion Account, though not so large as in the previous year, were still very important. For the conversion of debentures £340,676 of 3i-per-cent. stock was issued, and £332,700 debentures were converted. As all
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these debentures were carrying a 4-per-cent. rate a considerable saving of interest w 7 as effected thereby. £288,000 stock was inscribed for the redemption of debentures, and £5,000 issued for expenses. The particulars given in Table No. 1 concerning the transactions of other accounts speak for themselves, and do not require any further explanation by me. LOANS TO LOCAL BODIES ACCOUNT. The balance at credit of the Loans to Local Bodies Account on the 31st March, 1907, was £397. Debentures for £185,000 were created and issued during the year, and refunds of unexpended balances of grants amounting to £818 were received. Payments on account of loans made during the past year to local bodies amounted to £136,420, and towards opening up blocks of land for settlement, £38,524, leaving at the end of the year a balance of £11,271 to the credit of the account. Up to the 31st March last the total proceeds of debentures issued and carried into this account was £2,928,100, and the total disbursements have been £2,916,829, as follows: To local bodies, £2,314,772 ; to Lands and Survey Department, towards opening up blocks of land for settlement, £512,257; and to Public Works Fund, £89,800 in exchange for debentures under " The Boads and Bridges Construction Act, 1882." The reduction in the rates of interest on loans granted under the Amendment Act introduced by the Government last session has proved a great boon to the settlers, and has given general satisfaction to the ratepayers of the areas on which it has been necessary to make roads, bridges, and carry out other public works. The beneficial effects derived by local authorities from the Local Bodies' Loans Acts have been very considerable, and they are to be congratulated on the prompt and punctual manner in which they meet their half-yearly instalments of interest on the loans advanced to them. PUBLIC DEBT. The gross public debt on the 31st March, 1907, was £64,179,040. On the 31st March last it was £66,453,897, or an increase of £2,274,857. This may appear to be a very large increase, but so long as the policy to acquire land for close settlement, construction of railways, roads, and bridges, lending to local bodies, and making advances to settlers is approved of by Parliament the public debt of the Dominion must go on increasing, and it must not be forgotten that our assets, many of them direct interest-bearing, proportionately increase. A large portion of this increase of debt is devoted to expenditure of a reproductive character. Analysing the above figures I find that £864,600 was obtained for public works, £50,000 for improving the Hutt Kailway and Boad, £65,000 for railway improvements under the Authorisation Act of 1904, and debentures to the amount of £53,476 were issued in respect of the Waikaka Branch Railway, the money in this particular instance being in the first place found by the settlers of the district. For the purchase of estates we issued debentures, £440,690 ; for lending moneys to local authorities, £185,000 ; for making advances to settlers, £550,000 ; and for advances to workers, £185,000. In addition, £10,000 was obtained for scenery preservation, £214 was inscribed under the New Zealand Consols Act of 1904, and £34,877 was added as the result of conversion transactions ; but of this latter amount the Treasury will have about £20,000 at their disposal to devote to further redemption of debentures. £800,000 was raised under the Beserve Fund Securities Act of last session and used in terms of the Act for the purchase of gilt-edged securities, so that we have an interest-bearing asset for the amount which was given to provide stock under which the financial position of our country in England has been made so strong —a position that must be a source of very great satisfaction to the well-wishers of the Dominion.
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We paid off £40,000 of State coal-mines debentures from the profits of the Coal-mines Account, and redeemed £800,000 of Imperial guaranteed debentures from the accrued sinking fund, as well as £124,000 of consolidated-stock debentures issued against the accretions of the sinking fund of the Immigration and Public Works Loan. Of the new debt raised no less a sum than £2,360,904 may be set down as being of a directly interest-producing character, as follows : — £ For acquirement of lands for settlement ... ... ... 440,690 For additions to open lines ... ... ... ... ... 200,000 For loans to local authorities ... ... ... ... ... 185,000 For advances to settlers ... ... ... ... ... 550,000 For advances to workers ... ... ... ... ... 185,000 For investment in gilt-edged securities ... ... ... ... 800,000 For New Zealand Consols deposits ... ... ... ... 214 Total ... ... ... ... ... £2,360,904 leaving £877,953 as issued for general purposes ; therefore, if you allow for £964,000 of debt redeemed, no additional burden for interest has been cast on the taxpayers of the country in respect of this year's increase in the public debt. LOANS MATURED. During the past year no less a sum than £2,582,900 fell due, and honourable members will be pleased to know that I was able to very satisfactorily arrange for their renewal or payment. Of this large sum £887,600 was renewed, £569,100 was paid off, £196,500 was converted, and £924,000 was redeemed out of the accrued sinking funds, £5,700 is still outstanding. Owing to the redemption of the £800,000 guaranteed debentures, £124,000 consolidated-stock debentures, and the payment-off of £40,000 State coalmines debentures an immediate annual saving to the Consolidated Fund, in interest and sinking fund, of £61,740 was effected; as well as a direct saving of £2,000 per annum in interest made by the conversion and redemption of the other debentures, a result which must be highly gratifying to honourable members. RESERVE FUND SECURITIES. Honourable members will recollect that last session I obtained authority to issue debentures under the -Reserve Fund Securities Act, the proceeds to be invested in gilt-edged securities in London, to form a reserve fund which in times of emergency would be available to meet any unexpected financial contingency that might arise. The debentures were created and sold at 3£ per cent., and the proceeds were invested through the High Commissioner in the direction indicated by the Act. The operation was a most successful one. I desire to acknowledge the valuable assistance rendered to the Dominion by the Hon. W. P. Reeves in this important matter. The investment consists of first-class marketable securities on which I am quite satisfied advances can easily be obtained in time of financial pressure, so that our position in London is exceptionally strong. The nominal value of securities purchased is £856,119 13s. Bd., being a gain of £56,119 3s. Bd. in stock which, for the information of honourable members, I may say means that all these securities if held until maturity would return to New Zealand a profit of £56,119 3s. Bd., and in the meantime we receive about £26,631 per annum as interest, or an average of £3 ss. per cent, on the amount invested. We were fortunate in being able to secure the stocks at from 5 to 15 per cent, below what they would have stood at were the times really good in the stock-market. CUSTOMS. The working of the new tariff has been very satisfactory, most of the changes being of such a character as to facilitate the entering of goods at the Customhouse.
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The principal remissions did not take effect at once, but were postponed in the case of sugar, dried fruits, maizena, mustard, spices, cream of tartar, bicarbonate of soda, &c, until 31st October; and in the case of cottons, forfars, linens, glass, &c, until 31st December. Before these dates there was a great holding-back of the entering of goods, no more being entered than the actual demand warranted, and consequently the amount of duty received under these items was for a time abnormally low. Notwithstanding this, it is a matter for congratulation that, as already stated, the total revenue received during the financial year ended 31st March, 1908, was £162,525 more than that received during the previous year. A large number of items were added to the previously existing list of articles upon which a surtax was charged when of foreign origin ; but this extra source of revenue did not become operative until the 31st March, 1908. LAND AND INCOME TAX. The receipts from land-tax exceeded the estimate by £22,846, and were £90,504 in excess of the amount collected in the previous year. The income-tax receipts show an increase on the estimate of £24,904, and an increase of £27,037 on the collection of the previous year. The total receipts from both taxes therefore produced £47,750 more than was estimated, and £117,541 more than was collected in the previous year. The land-tax shows a steady increase, apart from the additional revenue resulting from the amending legislation of last year, and this notwithstanding the loss arising from subdivision of estates and the operations of the Land Purchase Department, which is very considerable. The increase in ordinary land-tax amounted to £28,991, which is altogether from increased values; the increase in graduated land-tax amounted to £60,070—this is partly from increased values, and increased rates owing to legislation of last session, and from the stoppage of evasions. The increase in absentee tax —£1,443 —is consequent upon the increase in graduated tax principally, upon which it is charged. I am glad to say that the new provisions in regard to the assessment of the graduated land-tax have proved highly efficient in preventing the extensive evasions of the spirit and intentions of the law which previously existed, and in causing the subdivision of large estates. POST AND TELEGRAPH DEPARTMENT. Notwithstanding the low postage and telegram rates in force in the Dominion, and the many concessions granted, to the public from the beginning of the present calendar year, the growth of the Post and Telegraph Department continues unchecked, the revenue for the past year having reached £822,639. At the present rate of progress the annual revenue will soon exceed one million pounds. I propose this year to reduce the rental for private boxes in the smaller towns where there is no letter-carriers' delivery from £1 to 10s. per annum. This should be a material convenience to the settlers. With a view to affording greater facilities to the public, I authorised the extension of the hours at the four principal post-offices, making them 8 a.m. to 8 p.m., instead of 9 a.m. to 5 p.m. as at present. TELEGRAPH AND TELEPHONE EXTENSION. The amount expended during the financial year 1907-8 on telegraphextension was £155,491; in addition to this sum there were liabilities amounting to £103,550 on account of material, new lines, &c. 9,656 miles of telegraph-line, and 29,344 miles of wire, were erected during the financial year. The length of submarine cables on 31st March, 1908, was 352 knots, an increase of 54 knots over the previous year. The number of telephone-exchange connections has increased to 23,981, and the revenue therefrom is £116,852 13s. lOd. 1,611 tele-
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graph and telephone offices were open on the 31st March, being an increase of 164 over the previous year. ADVANCES TO SETTLERS AND WORKERS. It is difficult to adequately appreciate the benefits that the Dominion has derived from the policy of making advances to settlers, which provides the means of enabling the settlers and workers to make the best use of the opportunities which have been placed within their reach by the beneficial legislation of the Government. About twenty-four thousand settlers and workers have been assisted, many of them to positions of affluence. About £8,000,000 has been granted to settlers, the average being only £348 each. Nearly one and a half million was granted to settlers and workers during the past year. The business transacted during the year has proved to be a record greatly in excess of any previous year. A very strong reserve fund and ample sinking fund is being built up out of profits, and no loss has been made up to the present time. The Workers' Branch of the Department has done good business since it began operations a little over twelve months ago ; 1,179 applications have been granted, amounting to £296,305. It has increased so rapidly that the authority to borrow £200,000 in any year is found to be insufficient, and, in order that the workers for whose assistance the Act was placed on the statute-book may receive the benefits to be derived from this institution, I propose to introduce legislation to amend the existing Act. LAND REVENUE. The gross revenue totalled £658,792 4s. 5d., the largest yet received by the Department. Of this amount territorial revenue amounted to £289,603 6s. 5d., and the rentals of land-for-settlements estates produced £230,357 4s lid. As bearing upon the revenue question, it is interesting to note that the total number of new settlers during the year under all tenures amount to 2,235, and the total number of Crown tenants of all descriptions now on the books number 24,096. The amount required to carry out the Government policy of an energetic reafforestation is £30,201. This is slightly less than last year, owing to the givingup of the nurseries at Seddon and Kurow, the dryness of the situation in each case making it imperative to take this action. Scenery preservation will require at least £9,275; but possibly more will have to be appropriated, as it is intended to expend £10,000 in securing the beautiful scenery along the Wanganui River from destruction. LAND FOR SETTLEMENTS. During the past year the purchase of sixteen estates has been completed. They comprise 126,868 acres, and the price paid was £565,728, which, with the costs incident to their settlement, and to the settlement of lands previously acquired (£47,968), make a capital sum invested of £613,696. The total area of land acquired and paid for to the end of last year is 1,122,135 acres, for which £4,807,369 was paid, and on which £409,885 has been spent in road-making and in preparation for settlement. The capital value of the estates acquired is thus £5,217,254. There was received by way of rent last year £230,357, and the net interest paid was £195,246. The area of land opened for selection under the Act during the year is 73,490 acres, and 114,150 acres were taken up by 420 tenants. The total area leased to 31st March, 1908, to 4,217 tenants, is 979,080 acres. Of this, 679,410 acres are held under leases in perpetuity, 67,107 under renewable lease, and 229,495 under small-grazing-run leases and miscellaneous tenures. The area not opened and still unlet is 131,266 acres, estimated to be worth a rental of £6,669.
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In the year 1908-9 the commitments include eight estates, containing 101,634 acres, for which about £336,155 have to be paid; and there are several other large estates under consideration. The commitments for the current year and the negotiations in progress will require for land-purchases not less than £500,000. PUBLIC SERVICE CLASSIFICATION. As honourable members are aware, "The Public Service Classification Act, 1907," came into operation on the 25th November of last year, and by its provisions' all Departments of the Public Service (except the Post and Telegraph Department, the Police, and the Government Railways Department, which have separate classification schemes of their own) have to be classified. This was a boon long looked for by the service generally, and the fact of it becoming law has created a general feeling of satisfaction, not only among the permanent officials, but also among those who prior to the passing of the Classification Act had been employed as temporary officials and who had neither any claim to a pension nor any hope of their back service being of any use to them. All this has now changed, and all such temporary officers of five years' continuous service prior to the 25th November, 1907, have now become permanent officers of the Public Service. PUBLIC SERVICE SUPERANNUATION. The Public Service Superannuation Act, which came into operation on the Ist January, 1908, has also proved to be a popular measure judging by the number of public servants who have become contributors to the Superannuation Under this Act permanent officials, as also those temporary officials who have been continually employed for five years, become entitled to a retiringallowance after reaching a certain age, or after having served for so-many years. Provision is also made for a pension for their widows, as also a weekly allowance for each child under fourteen years of age. They were also allowed to count as service the years they had served as temporary officers, provided the service was continuous. The number of contributors up to the present amounts to 7 028. This must be considered distinctly satisfactory, as showing a desire on the part of the Government officers not only to contribute towards a retiringallowance, but as also evincing a wish to provide in some way for those dependent The revenue derivable from the deductions made from the salaries of contributors so far as can be ascertained at present, is over £40,000, and may safely be estimated at nearly £50,000 per annum—which, with the £20,000 contribution from the Consolidated Fund, should put the fund m a healthy condition. . A Board has been set up under the Act, consisting of a Minister of the Crown four persons nominated by His Excellency the Governor, and five persons elected by and from the contributors, and regulations have been carefully prepared by the Board and approved by the Governor in Council, which will no doubt be of service in carrying out the responsible duties of the Board. A certain number of amendments will be necessary to make the working of the Act more effective, and an amending Bill will be laid before the House shortly. NATIVE LAND COURT. During the period under review the work of the Native Land Court has shown an increase as compared with former years. There have been issued 147 notices of sittings of the Court, which notices have reference to a total of 16,799 cases. The Native Apellate Court has, during the same period, been called upon to deal with 267 appeals against decisions of the lower Court, and of these 213 have been disposed of. The work of coping with such a heavy press of business has taxed the judicial staff to a large extent; and for this reason, and for
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the reason also that it is necessary that sittings should be held in many places where there is an accumulation of business, the Government recently decided upon the appointment of another Judge. The volume of business shows no sign of slackening during the coming year, and it is hoped that this addition to the staff will have the effect of enabling the Court to sit at other places where there is an accumulation of work. The expenditure under the Native Land Court vote for the year was £15,438, while the Court and registration fees payable to the Department in the form of stamps totalled £4,380 15s. MAORI LAND BOARDS. The work of the Maori Land Boards has increased to a large extent during the year; and, as the trend of the recommendations of the Native Land Commission will in many cases be in the direction of vesting in the Boards the administration of lands set apart for settlement, it is expected that the current year will see a large increase in the volume of business transacted. In anticipation of this the Government recently decided upon the appointment of two additional presidents. During the year the Boards have not put upon the market any considerable area of trust lands, a fact which is largely attributable to the number of subdivisional surveys which require to be carried out before the land can be so dealt with. No considerable area of land has been vested in the Boards for administration of late, for the reason that it. has been considered advisable to await the reports of the Commission before deciding as to future action. I find that a total of 1,545 applications for formal approval of private dealings have been notified for consideration by the Boards during the year, and the greater number of these, being considered equitable and to the advantage of the Native alienors, have been approved. From their inception to the present date the Boards have leased on behalf of the Native owners an area of 165,585 acres, and have sanctioned private alienation of 1,089,020 acres, making a total area of 1,254,605 acres rendered available for settlement. This area is expected to be largely augmented on the completion of the work of the Commission, when the Department will be in possession of better information as to the way in which it is advisable that the respective blocks should be dealt with. The expenditure on account of the Boards for the year, after deducting fees collected and credited to revenue, was £1,810. MINING. The prosperous condition of the mining industry still continues. The export of gold, although slightly less than that of the previous year, is yet very considerable. The outlook for the future continues to improve ; arrangements for working the deep quartz levels at the Thames and the deep alluvial leads at Ross, in Westland, have been completed, and operations on a large scale are now being carried on by strong companies, assisted by subsidies from the Mines Department. It is confidently hoped that large yields of gold will be produced from these two places. The export of silver for the past year is a record one, being £25,912 greater than that of the previous year, and considerably in excess of any annual export so far recorded. The production of coal for the year was the largest ever raised, and the extent of the new coal-areas now being opened up both by the State and private companies is an indication that the industrial activity of the community is flourishing. Operations in the State coal-mines have been very satisfactory, and both of the mines have worked practically full time throughout the year. Depots for the sale of this superior household fuel are now established in the large centres readily served by shipping ports, and the trade done has steadily increased. There is no trouble in dealing with the output —in fact, at the present time, it is difficult to supply demands. It has therefore been decided to extend the scope of operations at the mines, and the construction of the extension of the railwayline at the Point Elizabeth Mine to open up the well-known coal-bearing areas
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in the country at the back of the present workings is now being actively carried on. The net profit of the two mines during the last financial year was £8,440 Bs. 3d., a detailed statement of which, together with the reports of the management, will be duly presented to Parliament. CHEAP CABLES. As regards Post and Telegraph matters beyond the Dominion, the most important recent event is the agreement between the Imperial and United States Post Offices to establish a penny-post between the two countries. A proposal of far-reaching importance, which will, it is hoped, receive the serious consideration of all parts of the Empire, is that of Mr. J. Henniker Heaton, M.P., to-establish a penny-a-word rate for cable messages. In my opinion, the scheme is feasible, and is, therefore, one which has my entire sympathy and support. With the Pacific cable in the hands of the Mothercountry, Canada, Australia, and New Zealand, it would not be difficult or, comparatively speaking, costly to extend the State-owned system by creating a land line across Canada and laying a special cable across the Atlantic. The application of modern rapid automatic instruments should enable the line to be worked to a payable capacity, and the control throughout under one Administration should result in such a greatly increased efficiency as to render the project a commercial success. From an Imperial, commercial, and social point of view the establishment, of a penny-a-word rate for cable messages throughout the Empire would be of inestimable value. ADOPTION OF POST AUDIT. The auditing of the public accounts is a matter of the very greatest importance, and every effort should be made to prevent even the possibility of criticism tending in any way to cast a doubt upon the reliability of the system now in operation, under which the auditing has at all times been carried out with integrity and efficiency by the gentlemen holding the responsible position of Controller and Auditor-General. Yet there has been expressed more than once a desire for fuller details than is possible under the present system, so that every one who runs may read. And the only feasible and practical way to accomplish this is, in my opinion, to abolish the system of pre-auditing and adopt one of post-auditing, similar to that in Canada and other British countries. I am therefore submitting a Bill for the consideration of honourable members making provision for this change to be given effect to. The name of every person to whom a payment is made, and every penny-piece of expenditure will be set out in detail and laid upon the table of the House. This must, of course, take time to prepare, and in all probability the full details for a financial year will not be completed until some months after its close. This is the experience of other countries. It does not, however, follow that the postauditing will be deferred by the Audit Department for any such purpose. This will be carried out upon every transaction as soon as it has been completed, and the House must not overlook the fact that if any irregularity exists it will be the duty of the Controller and Auditor-General to report it to Parliament at once. The matter is one of such importance that reasonable time should be given for careful consideration. I propose, therefore, to refer the Bill to the Public Accounts Committee for full investigation, consideration, and report. WELLINGTON-MANAWATU RAILWAY. Honourable members will recollect that an announcement was made in last year's Public Works Statement of the intention of the Government to acquire the Wellington-Manawatu Railway in the manner prescribed in the Railways Construction and Land Act, and in fulfilment of that intention the requisite formal twelve months' notice was duly served upon the company on 7th December
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last. The existing legislation on the subject seems to be defective in one respect, inasmuch as it does not provide for the railway vesting in the Crown on the maturity of the notice of intention to purchase. It seems to contemplate that the arbitration proceedings to determine the price to be paid for the line shall first take place, and, as these may occupy some time (and it would scarcely be fair to the company to hurry them, even if such a course were legally practicable), the date on which the Government would obtain possession of the railway, without an amendment of the Act, is very indefinite. In view of this, it is proposed to introduce a Bill to provide for the vesting of the line in the Crown on the expiry of the notice of intention to purchase—namely, on 7th December next. What is fair and just to the company will be done, as we have no desire to deprive it of what is its due. If the Bill passes it will have the effect of placing the whole railway between Auckland and Wellington in. the possession of the Government in time for the commencement of the fast through mail service, and will at the same time leave the company entirely unhampered as to when it will take the necessary steps to bring the question of the assessment of the price to be paid for its line before the arbitration tribunal provided for in the Act. BRITISH NAVY, The value of the British Navy for the preservation of the Empire to which we belong is generally recognised; and to show our goodwill, as well as our recognition of the immense services to this country that the British Navy affords, the Government some months ago advised the Secretary of State for the Colonies, through His Excellency the Governor, that we would increase our contribution to £100,000 per annum, at the same time advising the Home authorities that we recognised the importance of the ships of war being under the sole control of the Admiralty, either in times of war or peace, and that our contribution would be given unconditionally, so that should any necessity arise for these ships to be directed by the Admiralty elsewhere, that this should °be done without any assumed impression on the part of the authorities that it would be regarded as in any way distasteful to the law and people of New Zealand. ADVANCES TO SETTLERS. The active land-settlement that has been going on. throughout the country necessarily calls for a large amount of money by those acquiring sections. A number of the large holders have been placing the excess of their land upon the market, and to this fact I attribute to some extent the considerable demand that is being made throughout the country for financial assistance from that highly popular branch of the Public Service, the Advances to Settlers Department. It has worked so satisfactorily up to now —and the time has long since passed when any doubt can exist in the minds of the most sceptical as to its stability—that I feel justified in asking the House to increase the limits of borrowing for that Department from five millions to six millions. It may not be found necessary to utilise all, or indeed any portion, of the extra million, but I am sure honourable members will agree with me that it is desirable that many of our enterprising settlers who may look to this Department for advances should not be denied on account of the maximum amount now fixed. It will be gratifying to honourable members to know that the repayments made to the Department now total the large amount annually of £800,000, and the time is not far distant when the repayments will reach a million per year. I look forward with confidence to being able, without fresh extensions beyond the million now asked, to carry on the whole of the fresh requirements from this branch of the service out of the annual repayments. In any case, I am of the opinion that six millions should be the final limit for obtaining funds to meet the purposes of this Department. It seems scarcely fair that the total borrowings of the Advances to Settlers Department should be included as a part of the public debt, though strictly speaking it is so; but, as the moneys are used for the purpose of advancing upon landed security it is a question whether we should not consider
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the desirability of transferring the whole loan to the Advances to Settlers Board, making provision by law for the guarantee of the repayments. I am of opinion that this will not in any way weaken* the security of those who lend the money. It would place this useful Department of the Dominion upon a basis that would more strictly represent the true position. Supposing any outside commercial concern were carrying on such a business, and could show results similar to the Advances to Settlers Department, they would not include the money borrowed as part of the commercial concern's direct liability. In its present form it allows a wrong impression to be conveyed. ADVANCES TO WORKERS. While I am upon this subject I desire to point out that the system of making advances to workers is more satisfactory to the worker who desires to have a home than that of the Government purchasing land in the country, erecting houses upon sections and leasing them to workers; and lam of the opinion that this system of purchasing land and building homes can, without any disadvantage to the workers, be eased off, and that the operations for helping workers to obtain homes could more advantageously be conducted upon the systematic basis that the Advances to Workers provides. The total number of workers' homes throughout the Dominion is ninety-four. In one year under the Advances to Workers Act 1,179 homes have been provided for those who have availed themselves of its liberal conditions, while under the system of workers' dwellings only some twelve homes were established throughout the country last year. I am of the opinion that if we want to have a large body of our workers more contented and happy that much in this respect can be accomplished. It will likewise be a great factor in helping to solve the difficult rent problem, which is ever a source of anxiety to those whose necessities compel them to rent houses. I propose to increase the amount now authorised from £200,000 to £500,000 per'annum. SUPERANNUATION. A proposal will be submitted for assimilating as far as practicable the systems of the Police and Education Departments with that of the Civil Service Superannuation. While effecting these alterations I propose to ask the House to enable the men who went out on strike in the Railway Department in 1890 to count for continuous service under certain conditions. There was no law in 1890 making strikes illegal, and, though these men were misguided in the course they took, still I think the penalty for superannuation purposes of the loss of all prior service is too great. The Amalgamated Society of Railway Employees is willing to help them financially, and I will ask the House to make provision that on payment of £1,500 to the Railway Superannuation Fund the present disability will be removed. NATIONAL SUPERANNUATION. A Bill will shortly be introduced inaugurating a National Superannuation Fund, to which all New Zealand residents under the age of fifty-five will be at liberty to contribute. I propose-that the State shall also contribute towards the support of the fund, which will provide to the contributors, in return for moderate payments, pensions not exceeding £2 a week in any case, either on attaining the age of sixty or sixty-five, or on becoming permanently unable to work by reason of sickness or accident before reaching the pension age. The fund will also provide assistance to the widows and orphans of contributors. I propose that widows should receive £13 per year and their children ss. per week, orphans also ss. weekly, until each attains the age of fourteen years. I will also submit a supplementary scheme dealing specially with the low-wage earners with large families. lam of opinion that if we can establish a system by which
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the breadwinners can make sure of those dependent upon them being provided for in the event of sickness, accident, or death, much will be done to solve the present problem that creates a spirit of unrest which is largely due to the difficulty of reasonable provision being made for large numbers of our people, who see little brightness before them owing to the difficulty of bringing their families up respectably and making both ends meet. lam confident a National Superannuation Fund can be carried out successfully, with great advantage to our people, and at the same time with safety to the country. Under my proposals I should expect before many years pass by that a large decrease will be made in the amount we pay to the aged under the Old-age Pensions Act. This system will be administered by the Old-age Pensions Department making use of our valuable Postal Department, and paying it fairly for the work in this respect it performs. I will fully explain the proposals when submitting the Bill to the House. LOCAL BODIES SUPERANNUATION. A measure will be submitted for the purpose of enabling any local body to inaugurate a superannuation fund for its employees, each local body being allowed to arrange the details to suit its own circumstances, subject to the scheme being approved by the Minister of Finance. The funds will be administered by the local bodies but will be subject to periodical Government valuation, and each local body will be required to supplement the contributions of its employees by subsidising the fund from time to time as may be found necessary after actuarial investigation. SPECIAL LAND-SETTLEMENT. The large areas of lands that are now being put on the market by private holders calls for consideration from the standpoint of helping desirable settlers to acquire for settlement selections of the same areas as is provided for in the Land for Settlements Act upon the easiest possible financial conditions. The work of the Land for Settlements Act involves an expenditure of about half a million sterling per annum, which adds directly to our public debt, is meeting a great want, and should not in any way be curtailed. After careful consideration I am of the opinion that a departure in another direction should be made and a system of special settlement association established, so as to enable that great desideratum, the closer settlement of the land, to be carried out still more expeditiously. I therefore propose to submit proposals to the House this session making financial provision for special land settlement upon the following lines : — Upon application by any number, say ten or more, of intending bona fide settlers who have obtained from a private landowner an offer to sell the estate at a price fixed by him, the Land Purchase Board shall inspect the land to ascertain its suitability for settlement and the fairness of the price, and if the Board is satisfied on both points it will report to the Minister of Finance. The proposed settler will then submit a scheme of settlement, which must be consistent with the limitations and other conditions of the Land for Settlements Act. If the scheme is approved by the Land Purchase Board, the Advances to Settlers Department, through the Minister of Finance, will obtain the money required to purchase the estate at the lowest possible rate of interest, giving to the lender as security for such money a mortgage over the estate in the name of the settlers, who will also bind themselves as ordinary mortgagors by their own covenants, in addition to the security, and the Government will guarantee the repayment of capital and of interest to the lender. I propose to provide for a redemption fund by which the settlers would repay both principal and interest in 32J years. Honourable members will see that by adopting this course, the country's guarantee for capital and interest would be made absolutely safe, inasmuch as the reduction by way of sinking fund paid by the settlers themselves would, upon every payment,
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strengthen the security both for the lender and Government guarantee, and all improvements effected upon the special settlements would still further reduce the liability of the lender and improve the security of the State. Thus the guarantee of the Dominion would be steadily reduced and the value of the security steadily increased. The proposed settlers should have the same right of usage of the land as is now enjoyed, by land-for-settlement tenants. Honourable members will recognise that if any settlers now purchase land from private owners, the land as soon as they have paid off the purchase money becomes their own property, and this proposal does not take away from them the right in that respect that they would possess; on the contrary, it would give them great heart to work and develop their property, as under the terms I propose this would be done under very easy conditions. I feel sure that the proposal, which is one of great importance, should help immensely a number of men who intend to settle upon the land to obtain areas from private owners in different parts of the Dominion suitable to their requirements, and upon financial conditions that would make the acquirement of it comparatively easy. It will have the further advantage of preventing any direct addition to the debt of the Dominion—an important consideration in view 7 of the criticism that so frequently takes place with the moneys that are utilised for what I may term the people's social requirements. LOANS TO LOCAL AUTHORITIES. In various parts of the Dominion there is more than ordinary activity in the matter of settlement, and those portions of the country where the public requirements and conveniences of the people are yet but slightly established call for an increase in the amount of loans obtainable under the Loans to Local Bodies Act. The present limits are —for County Councils, £6,000 per annum; for Road Boards, £3,000; for Boroughs, £2,000; and for Town Districts, £300. Frequent representations have been made to me both in the House and in the country that these limits are insufficient to meet the requirements of the local bodies. I propose to submit legislation by which the limits for the local public bodies' loans may be removed in cases where the loans are obtained outside the Government, but with a State guarantee. If they borrow direct from the Government the present limits must remain. For these State-guaranteed loans security by special rate, and also a sinking fund, will be provided, and the proceeds paid to the Public Trustee, the Minister of Finance reserving the right of control as to what the amount of loan should be. The sinking fund should be 1 per cent., and of this amount I propose that the Government should pay J per cent, and the local body the other per cent. The money should, without difficulty, be obtained at 4 per cent., and under such a system, with the lenders secured by a guarantee of the Dominion, there would be an easy method of local bodies' finance, under which I venture to predict that public bodies would not require to levy at the outside more than half the maximum rates upon property-owners, that which they did levy being used chiefly for administrative purposes and the provision of a sinking fund. At present the tendency is that, when the full amount of an advance under the Loans to Local Bodies Act is made, the Government is asked to pay a subsidy of £1 for £1 upon its own advance under the Loans to Local Bodies Act, and it is impossible that such a system as this should be allowed to continue. The present system of roading by some of our local bodies is in the highest degree unsatisfactory. I was more than astonished to find upon my recent tour through the North that more than one important County Council carried on its w T ork without the services of an engineer. The result is, to put it mildly, that far from the best results have been obtained. The absence of road-metal owing to many difficulties renders many of the formed roads, during winter especially, perfect quagmires, making the lives of many of our settlers a misery. Every effort should be made to change this. I will submit to the House proposals to provide for a number of modern stone-crushers, to be sent where
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required, to be either worked by the Roads Department and charged to the local body, or lent to the local body, with a charge for interest and depreciation, and worked by themselves. The employment of a local engineer should be made compulsory. To help this a reduction of 25 per cent, on the haulage of metal for local bodies will be made by the Railway Department. I feel confident that if the country is to have the full benefit of the work of the settlers, a great forward movement in these important matters should be made, and, with the assistance that I have sketched for financing local public bodies, and with an active, methodical, and well-controlled provision for the formation and metalling of roads in the interior of the country, I am justified in anticipating that within five or ten years a great transformation can be effected, and that within those periods a very large decrease in the amount of moneys required for roading purposes would take place. I should expect to find New Zealand in this respect as well roaded as any other country in the world. Honourable members will recognise that there would obviously be also a large decrease in the claims upon the central Government for road grants which are now made. I commend these proposals to the most careful consideration of honourable gentlemen. ROADING. The work of roading in different parts of this country is a matter of the greatest importance. And, in view of the energetic settlement that has gone on all over the Dominion, the time has arrived when greater steps than hitherto must be taken to provide roads for our settlers, especially in the backblocks ; and I propose this year to ask the House to provide for £650,000 for roads and bridges, and of this amount £250,000 will be specially devoted to roads in the backblocks, and will be continued for a period of four years, including the current year. A million in all will be expended for this laudable purpose. IRRIGATION. Provision, as honourable members know, was made last year for carrying on the important work of irrigation in Central Otago. This has not been neglected during the recess, as my colleague the Hon. Minister of Lands and myself made a personal tour through portions of the territory that required artificial means of insuring to the people a regular supply of water. The services of a highly qualified engineer will shortly be secured, and this important branch of the policy of the Government put actively in hand. RAILWAY-CONSTRUCTION. Full details of the various works that have been in hand during the last year, and of the proposals for the present year, will be given by my colleague in the Public Works Statement, which will be brought down at a very early date; but I may, perhaps, say a few words here with regard to one or two of the more important lines. First in importance, in every way, is the North Island Main Trunk Railway, and with regard to this great national work I am very pleased to be able to state that completion is now well in sight. The last girder of the great Makatote Viaduct was placed in position on 4th June ultimo, and the rails have since been laid over it. At the southern end the gap between the rail-heads is now under six miles. From present appearances it seems likely that the last rail will be laid about the middle of next month. Considerable work will, however, still remain to be done before the line can be regarded as completed, and before a fast express through mailservice can be run ; but there is every likelihood of honourable members representing northern electorates being able to travel by rail all the way from Wellington to Auckland without change of carriages at the conclusion of the present session, and it is also now probable that the regular express trainservice can easily be started by the Ist November next. Honourable members will, I am sure, agree with me that this is an announcement of a very satisfactory
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character, and that the Minister for Public Works is to be warmly congratulated, not only on the fulfilment of his promise, but on the accuracy of his forecast. I mentioned in my last year's Budget that the tender of Messrs. J. McLean and Sons had been accepted for the Arthur's Pass Tunnel on the Midland Railway. For a work of such magnitude considerable preparatory work was of course needed before actual boring operations could be begun ; but I am very pleased to be able to state that, at the invitation of the contractors, I fired the first blast in the actual tunnel on the sth May last, so that the work of providing this long-looked for connection between Canterbury and the West Coast is now well under weigh. RESTORATION OF PARLIAMENTARY BUILDINGS. The destruction by fire of Parliament Buildings necessitates their replacement, and honourable members will be asked to decide as to the site. When this has been done the requisite proposals will be submitted in the Public Works Statement. It is erroneous for any one to suppose that the policy of not insuring the public buildings of the Dominion is an unwise one. On the contrary, I am of the opinion that as a matter of business it is the cheapest, and consequently the wisest. In the light of experience it can easily be shown that the cost of the premiums would amount to far more than the aggregate amount of losses that have occurred, or may be expected to occur in the future. As for the suggestion which has been made in some quarters that they might with advantage be insured by the State Department, it will, I think, be clear to honourable members that to put one hand into one Government pocket to pay for the insurance of public buildings, and the other hand into the other Government pocket to take the money out in the event of fire, would be a delusive method of making provision for losses by fire. INDUSTRIAL MATTERS. I need not remind honourable members of the difficulties that have been experienced in connection with the carrying out of the industrial conciliation and arbitration system of the Dominion. Though the Act has been the subject of considerable criticism, it is, I think, beyond all question that it has conferred distinct benefits both upon, the employers and the employees. It has enabled uniformity of procedure to be adopted by the manufacturers and mercantile community throughout the Dominion, preserving them against the unfair competition of any unprincipled employer who might desire to adopt the system of undercutting or sweating so as to gain an advantage over his competitor, and it has assured to the workers a fairness of wages, hours and conditions of employment that has greatly improved their conditions. Those who remember the position in New Zealand anterior to this law being upon the statutebook can have anything but pleasant memories of the unsatisfactory position in which the workers at that period found themselves. Time brings changes, and what has up to a point been successful machinery has in the light of recent disturbances shown weakness in this direction that requires remedial legislation to try and put matters upon a more satisfactory footing. The matter has been fully considered and my colleague will submit to honourable members the proposals of the Government in this direction. Two objects must be kept before us: to do what is right to the workers and what is just to the employers. If the system of Conciliation and Arbitration is to stand we must insure that the awards of the Arbitration Court are respected by both sides. If we cannot achieve this, then inevitably the Acts must be repealed. . I should much regret to see the latter course followed, and I am sure that the country
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generally will indorse this sentiment. There are extremists, of course, on both sides —some who will not recognise the rights of labour, and by so doing add to the difficulties. On the other hand, there are those who, by extreme agitation, make a complicated matter yet more difficult of adjustment or administration. What occurred in Canterbury a short time ago when some seven thousand farmers were cited at the instance of a' small minority, should not be possible under a well-organized system of conciliation and arbitration. The farmers, on the other hand, must recognise that the conditions under which we are living have greatly changed, and that what is fair and equitable and just should be done to the workers whom they employ. Ido not say that this has not been done in the past. On the other hand, the conditions under which the perishable products of our country are obtained require to be not only considered but respected in doing what' is right and just to the farmers engaged in our country life. If the whole matter is approached by all parties from the standpoint of improving the conciliation and arbitration system of the Dominion, and making the law of such a nature that it can be carried out to meet the requirements of the people, then I hope we will succeed in legislation, so as to make the future path a more even one for all concerned to tread upon. * LOANS MATURING. It will be of interest to honourable members to have some definite information regarding the maturity of loans during the current year. I have already pointed out that £2,582,900 were successfully renewed, converted, or paid off during last year. During the current year the total amount of loans that fell and are to fall due amount to £3,133,238. I am sure it will be gratifying to you to know that satisfactory arrangements have already been made for the renewal of £1,750,000, and at no higher rate of interest than existed previously. Already the conversion of £500,000 of our debentures has been effected at a reduction of the interest which they were formerly bearing. Thus £2,250,000 out of the total already matured or maturing this year have been fully provided for. This leaves a balance of £883,238, concerning which I anticipate no difficulty in arranging for when the payments become due. I desire to assure honourable members that these important matters have received most careful attention in every instance long before the time of their maturing arrives. In this respect I may say I have already looked ahead to the year 1910, and I feel confident that successful renewals and conversions for such loans as will be falling due in that year will be satisfactorily arranged. In important financial matters of this kind it does not do to wait, and I have been looking well ahead. WOOL MARKET. Regarding the position of the wool market.a few words may not be out of place: — The estimated population of the world in 1882 was 1,433,887,000, and the last information that I can get a fairly accurate estimate from is for 1902, when the population had risen to 1,600,000,000, an increase in the twenty years of 166,113,000. It is fair to calculate that from 1902 to 1908 the increase has been another 60,000,000. Honourable members will see that I have calculated this at a considerably less rate of increase than for the preceding twenty years, so that the world's population has increased in twenty-six years by fully 226,000,000 of people. iii—B. 6.
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The most experienced men engaged in the wool business of the world recognise that the wool supplies have not increased anything in proportion to the increase of population, and some of the best judges are of opinion, that the fall in the value of wool which has taken place, due chiefly to the dislocation of the financial world in Germany and America, cannot long continue, so that we are at least warranted, without attempting to prophesy as to the future of this important staple product, in believing that the present low values must before long advance. To what extent that will take place no one can conjecture, but I mention this matter for the purpose of putting on record my opinion that the future of the wool market is not without hope. It should not be forgotten that, in years gone by, when New Zealand was in a much less satisfactory position than now, heavy drops in the value of wool have been experienced, our people then faced the situation with courage and hope, and I am sure that the same characteristics still prevail. FINANCE FOR 1908-9. I now come to the consideration of the expenditure and revenue for the current year. EXPENDITURE. The estimated expenditure for the present year amounts to £8,662,993, or £449,028 more than that of last year. Dealing first with the permanent charges, I find that interest and sinking fund will require an additional £78,000 to meet interest, due principally on the million loan and the debentures issued under the Reserve Funds Securities Act. In the latter case, however, most of the interest is recouped to the Consolidated Fund from the investment of the money raised under that Act. Under special Acts the increase on the total is small, and calls for no special remark. Coming to the departmental appropriations, there is an increase of £371,000 consequent on the growing requirements of the services. The Postal and Telegraph Department is responsible for £89,000 of this amount, the salaryvote showing an increase of £55,000, which is caused by the employment of additional officers and the payment of increments under the departmental Classification Act. Working Railways ask for an additional £56,700. Taking into account the increased expenditure involved on the coming into operation of the new Classification Act, the enhanced price of supplies generally, and the additional wages and expenses of working new lines that have to be taken over, the workingexpenses of the year cannot be placed at less than £2,020,000, and as the Department expects to earn £2,835,000 for the twelve months there will be a net return of £815,000 to the Consolidated Fund. The Lands and Survey Department shows an increase of £59,900, which is required for surveys and for providing and equipping additional surveyors, also to cover the cost of grass-seed and relief given to settlers consequent on the drought and bush-fires. Defence services need £38,000 more than was expended last year. Of this sum £14,000 is to cover the cost of the recent Easter manoeuvres held throughout the Dominion. The good results attained will, I feel sure, justify that expenditure. £10,000 is also required for equipment, ammunition, and warlike stores, and additional funds are needed for capitation and other services. Education Department asks for an additional £35,000, which to a great extent is due to natural increase of the services, further sums being required for technical education, training-colleges, and secondary education. Industries and Commerce and Tourist Department is responsible for an increase of £16,700. The chief cause of the increase is owing to the recoveries made by the Department being credited to revenue, as required by legislation passed last session, instead of to the vote as hitherto.
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Police Department shows an increase of £15,600, accounted for by the necessity to provide more police protection to localities that are insufficiently policed, and for the payment to members of the Force the increased rate of pay as fixed by regulation. The increase of £13,000 in Agricultural class is due chierly to the additional amount required for inspection of dairies and noxious weeds. The other classes call for no special comment other than that the small increases asked for are due to the increased work of the Departments, the outcome of the growth of the population. Full details of the expenditure will be found in the estimates, which will be placed in the hands of honourable members immediately. REVENUE. Turning now to our ways and means for the year, I find that, after giving the matter careful consideration, I am able to estimate our revenue from all sources as £8,985,000, or £70,946 less than the amount received last year. As the main source of our Customs revenue is the spending-power of the people, apart from the lower price of wool and flax, I have no reason to anticipate any falling-off in the revenue, except in so far as it will be affected by the tariff remissions made last session. On the contrary, the revenue has been so buoyant for several years that it is just a question whether the net remissions will not be compensated by the natural increase arising from increased population and the continued prosperity of the country. With these considerations in view, I estimate the amount *of Customs revenue will be £2,950,000, or £153,565 less than the collections of last year. Considering the steady increasing volume of railway business and the additional mileage of line now under construction, and which I expect will be taken over during the current year, I estimate that the gross earnings of the Railways for the twelve months may be safely put down as £2,835,000, or £69,605 more than the actual receipts of last year. I anticipate that Stamps will yield £1,573,000, or £22,066 more than the previous year, the increase being derived principally from postal revenue ; while the general prosperity of the community enables me to expect a revenue of £570,000 from Land-tax and £310,000 from Income-tax—an increase of £37,249 in the combined collections. Registration and other fees show a decrease of £14,166, consequent on the abolition of the sheep-tax. Miscellaneous revenue has been set down to yield an increase of £20,659 on last year, and beer duty £3,027, while the Marine revenue is estimated to be less by £2,217. Territorial revenue is estimated to produce £236,000, or £53,603 less, because this year the revenue derived from renewable leases—which takes the place of lease in perpetuity—and small grazing-runs will be credited to the National Endowment Account. ESTIMATED RESULTS AT CLOSE OF THE CURRENT FINANCIAL YEAR. Bringing the estimates of expenditure and revenue together, the position at the close of the current financial year may be set down as follows :— Estimated revenue ... ... ... ... ... 8 995 000 Estimated expenditure ... ... ... ... ... g 662993 Excess of revenue over expenditure ... ... ... 322 007 Add balance from last year ._.. ... ... 757 349 Total ... ... ... ... ... £1,089,856 From this amount I propose to set aside £800,000 for transfer to Public Works Fund, and £60,000 for additional contribution to British Navy, leaving a balance of £229,856 for such further appropriations as may be asked for in the supplementary estimates.
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ESTIMATES. I would particularly direct attention of honourable members to an alteration I have made in the estimates for this year in regard to the item Contingencies." Several new items have been introduced, so that recurrent expenditure which has hitherto been charged to " Contingencies is now provided for under separate items, and the item "Contingencies" in future will provide only for unforeseen expenditure incidental to the vote. As the outcome of the Public Service Classification Act of last session, certain officers hitherto classed as temporary have now been placed on the permanent staff, and their salaries have been provided for as such on the estimates. This will account for the number of officers and the amount of salaries beingmuch greater in some Departments than those of last year. The work of the classification of the Civil Service has not so far been sufficiently completed to enable the Board to send forward its report for presentation to Parliament. On that account the estimates submitted necessarily do not contain any provision for such recommendations as would m the ordinary course have been expected as the outcome of the classification of the Service. If the Board is unable to report before the end of the session, I will make provision for the various increases upon the supplementary estimates. In all cases the amounts of salaries shown on the estimates are those which the officers are now receiving, excepting those who are entitled to increments under classification or regulation. ADDITIONAL FUNDS. Having said so much, honourable members will be interested to know what provision is being made for ways and means for carrying on the public works of the current year. I have already informed you that £650,000 is to be expended upon roads, and of this amount £250,000 will be devoted to roads in the backblocks, the balance of the £650,000-viz., £400,000-bemg utilised for roads and bridges generally. £350,000 will be devoted to additions to open lines, making further provision for railway rolling-stock, &c. In order to enable the more vigorous prosecution of our railways to be carried on I propose this year to set aside one million sterling for this purpose. For public buildings, telegraph and telephone extension, it is proposed to set aside £350,000, this making a total of £2,350,000. In order to enable provision to be made for this sum, I propose to pay to the Public Works Fund from the Consolidated Revenue £800,000, and to raise a loan for these purposes of £1,250,000. This, with the £191,800 available from last year s loan, and the £200,000 authorised under the Post Office Savings-bank Fund Investment Account, out of which the erection of post-offices in Auckland and Wellington will be provided for, gives a total of ways and means for the current year of £2,441,800. RAILWAYS. Having intimated to honourable members the amount it is intended to set aside for the prosecution of railway-construction, I may mention that it is proposed to add some new lines to the list of those in hand at present By the end of March next three or four of the present lines that are in hand will have been completed. Full details of the proposals of the Government will be contained in the Public Works Statement which my colleague will before long have the pleasure of placing before honourable members.
XX
8.—6.
CONCLUSION. Honourable gentlemen will see that an effort has been made to do evenhanded justice to all classes of the Dominion, and I trust that by the means that I have outlined every section of this country will be brought into closer harmony for the one great purpose—namely, the promotion of our national well-being and happiness. In dealing with the financial requirements of our growing country, each year brings its additional responsibilities, and, at times, naturally its attendant anxieties. During portion of this year there was more than ordinary anxiety, brought about by causes not arising within the borders of New Zealand or under our own control—l refer to those disturbing elements which early in December last visited the United States of America, and for a time crossed over into the financial world of England. To meet the difficult financial position that had arisen in America, large sums of gold were quickly transferred to that country from England, with the inevitable result that, temporarily, financial tightness presented itself in the Old Land, not because money was scarce, but because the balance of the necessary reserves—owing to large exports of gold—was being reduced to below normal, and the Bank of England discount-rate ran up to the abnormally high one of 7 per cent. Fortunately for us, we had financially no connection with the United States of America—our own finance was arranged well ahead, and we were in a strong position. At such periods, .unhappily, there are those to be found who take fright, and fright, like fever, is catching. History shows that at such times, if enough people lose their heads, what is a strong and powerful position can easily bo converted into one of doubt and uncertainty, and even panic. It is just then that we require to be cool, and not allow our better judgment to be warped by the cry of the alarmists. It is satisfactory, looking at the critical time outside the Dominion to which I have referred, that we have been able to get along without any genuine cause for alarm. It is something to be able to tell you that the revenue for the first quarter this year shows an increase, even though it is not large, over that of the same period for last year; this notwithstanding the large concessions in revenue made to the public, and this, too, in spite of the reiterated statements of some people that we had started on a downward grade. Eight months have passed by since the financial difficulty in America and England was at its height, and our revenue for the last quarter, during which all the reductions were in operation, shows that we are still more than holding our own. Money is now easy and plentiful in England, and the Bank of England rate has for some time been down to 2j per cent. I have not at any time shut my eyes to the necessity for caution—l have always in connection with the country's finance been careful; but I do not subscribe to those who take the view that trouble and disaster are imminent in New Zealand because of every recurring change that from time to time presents itself on the horizon of other countries. I have now placed before honourable members particulars and information connected with our financial position which I, hope will be of interest to them and the people. With energy and enterprise, duly tempered by prudence—qualities for which New-Zealanders have never been found wanting—l am confident that the financial result of the current year will be as satisfactory as the last.
iv—B. 6.
XXI
TABLES TO ACCOMPANY THE FOREGOING STATEMENT.
Table No. *—A»««°t CW.Bm.ifm and Expenditure of the toucui Year ended 31st March, Table No. 2.-Comparativ E Statement of the Estimated and Actual Receipts and Expenditure of the Consolidated Fund for the Financial Year ended 31st March, 1908 27 Table No. 3.—The Public Debt on 31st March, 1908 ' * '* ' * • • • • 28 Table No. 4.-Statement of the Estimated Liabilities of the Consoltdated Fund outstand.no on 31st March from 1898 to 1908 inclusive .. .. v landing on Table No. 5.-Statement of the Estimated Liabilities of the Public Works Fund outstanding ok 31st March from 1898 to 1908 inclusive .. .. Os Table No. 0.-Statement showing the Total Ways and Means of the Public Works Fund'and the Total Net Expenditure to 31st March, 1908 Table No. 7.-Estimated Expenditure of 1908-9 compared with the Actual Expenditure of 1907-8 " 35 Table No. 8.-Estimate Revenue of 1908-9 compared with the Actual Revenue of 1907-8 3 g Table No. 9,-Statement showing the Amount charged to « Unaut„or lSE d »in each Financial Year from Ist July, 1875, to 31st March, 1908 .. .. *, * 36 Table No. 10.—Statistics for 1887-1897-1907 "•••■•••■••.. 36 Table No. 11.—Value of some of the Principal Exports •*••••.. 36 Table No. 12._ Trade Exchange between New Zealand and other Countries .. .. 37 Table No. 13.-Development.of Shipping trading to and from Places beyond New Zealand '." 37 Table No. 14.—Registered Vessels belonging to New Zealand Table No. 15.-Increases foe Two Decennial Periods, 1887-1897 and 1897-1907 ao • • ♦ • do
I—B. 6.
8.—6
2
Table No.1.
1906-1907. RECEIPTS, 19O7-1908 £ s. d. £ s. d. £ s. d. 1,405,531 4 9 37,749 1 1 43,828 18 9 718 8 7 966 16 11 Balance at beginning of Year,— Cash in the Public Account Advances in the hands of Officers of the Government, - In the Dominion In London On account of Imperial Pensions .. On account of other Governments 1,215,517 2 2 16,993 8 3 29,993 13 0 563 15 7 , 4,757 10 9 1,488,794 10 1 700,000 0 0 Less Treasury Bills outstanding 1,267,825 9 9 550,000 0 0 717,825 9 9 788,794 10 1 2,941,039 12 10 1,365,727 9 10 447,342 4 2 277,866 12 11. 107,582 2 10 2,621,396 3 6 119,444 11 11 40,891 1 7 226,884 15 2 Ordinary, Kevenue, — Customs .. .. .. ■ • • • Stamps, including Postal and Telegraph Cash Receipts Land-tax.. Income-tax Beer Duty .. .. .. .. • • Railways Registration and other Fees Marine Miscellaneous 3,103,564 15 7 1,550,933 10 10 537,846 5 9 304,904 14 5 113,972 19 9 2,765,395 4 i 129,165 9 3 42,217 2 8 218,342 7 0 8,148,174 14 9 8,766,342 9 7 37,308 13 0 2,461 15 2 211,129 17 0 Territorial Revenue, — Cash Land Sales .. .. .. .. .. .. £45,233 3 0 Deferred-payment Land Sales .. .. .. .. 2,255 1 0 Pastoral Runs, Rents, and Miscellaneous .. .. .. 242,115 2 5 289,603 6 5 250,900 5 2 9,055,945 16 0 Sinking Funds set free. — Applicable to the redemption of debentures issued under— " The Immigration and Public Works Loan Act, 1870 " " The Consolidated Stock Act, 1884 " 924,000 0 0 800,000 0 0 121,000 0 0 66,000 0 0 Debentures issued, — " The Consolidated Stock Act, 1884,"— In renewal of debentures matured 31st December, 1907 For Increases of Sinking Fund 385,500 0 0 385,500 0 0 13,873 3 7 8 8 2 Recoveries in respect of Expenditure of previous Years,— In respect of payments made on acoount of Cook Islands Refund of purchase-money of schooner " Countess of Ranfurly " Recoupment by Land for Settlements Account of interest paid on borrowed money In respect of payments made on acoount of South Africa Contingents 801 11 3 3,000 0 0 4,241 9 2 8,043 0 5 13,881 11 9 Totals £9,267,751 1 9 [£11,091,314 6 2
8.—6.
STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1908, compared with the Financial Year ended 31st March, 1907. REVENUE ACCOUNT.
3
1906-1907. EXPENDITURE. 1907-1908. £ s. d. £ s. d. £ s. d. 37,543 0 7 2,172,092 7 9 319,721 10 3 83,777 3 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— Payments under the Land Acts Payments under the Timber and Flax Royalties Act 35,690 17 8 2,187,419 0 0 357,221 ' 8 10 90,135 17 2 24,834 0 8 18,386 0 8 32,512 14 9 22,706 18 7 3,618 3 II 15,256 5 0 49,065 7 8 313,825 14 1 Endowments— New Plymouth Harbour Board Greymouth Harbour Board Westport Harbour Board Old-age Pensions 3,718 5 10 19,788 19 10 54,391 3 5 325,036 2 6 3,038,119 13 11 3,128,621 8 7 20,894 15 5 43,779 16 4 617,268 19 5 44,004 15 5 5,250 14 6 1,849,456 18 1 32,712 19 6 25,860 8 8 42,954 19 6 34,366 7 10 21,210 10 7 141,465 4 2 146,062 8 6 34,814 16 5 164,747 8 3 3,026 14 11 152,764 15 8 48,921 10 5 61,699 6 0 16,249 0 11 165.559 18 11 125,408 18 5 30,171 10 4 785,988 15 4 26,276 10 3 91,398 5 3 4,489 9 1 Annual Appropriations,— Class ' I.—Legislative Departments II.—Department of Minister of Finance -,.-.' •• •• . • III.—Post and Telegraph Department IV.—Industries and Commeroe and Tourist and Health Resorts Departments V.—Old-age Pensions Department VI.—Working Railways Department.. VII. —Public Buildings and Domains .. „ VIII.—Maintenance of Roads.. IX.—Printing and Stationery Department X.—Stamp and Deeds Department .. .. .. .. ,. XI. —Native Department „ XII. —Justice Department XIII. —Police Department XIV. —Mines Department XV. —Department of Internal Affairs XVI. —Crown Law Department .. .. .. ,. „ XVII.—Defence Department .. , XVIII. —Customs Department XIX. —Marine and Harbours and Inspection of Machinery Departments .. „ XX. —Department of Labour XXI.—Department of Lands and Survey „ XXII. —Department of Agriculture .. ... .. „ XXIII.— Valuation Department „ XXIV. —Education Department „ XXV.—Public Health Department „ XXVI. —Mental Hospitals and Hospitals and Charitable Departments Services not provided for 29,788 13 11 56,832 5 3 707,136 1 10 54,536 8 10 5,765 15 3 1,963,227 15 2 47,475 19 6 19,207 14 4 46,261 4 7 37,963 6 0 24,656 5 11 149,241 9 5 157,856 19 1 34,470 0 5 114,799 16 5 4,340 3 7 176,426 2 4 49,511 19 '5 76,629 19 5 29,047 10 7 172,825 16 11 136,041 8 3 33,096 5 11 821,423 2 0 33,252 18 11 99,395 4 8 4,133 3 3 4,736,805 18 1 5,085,343 11 2 Revenue transferred to the Public Works Fund 800,000 0 0 775,000 0 0 Debentures redeemed, — " The Immigration and Public Works Loan Act, 1870" matured 1st June, 1907 .. " The Consolidated Stock Act, 1884" due 31st December, 1907 800,000 0 0 124,000 0 0 924,000 0 0 Debentures renewed, — " The Consolidated Stock Act, 1884,"— Debentures due 3lBt December, 1907, renewed as per oontra 385,500 0 0 1,215,517 2 2 Balance at end of Year, — Cash in the Public Account Advances in the hands of Offioers of the Government— In the Dominion .. .. .. '.. In London On account of Imperial Pensions On account of other Governments 1,080,094 0 1 16,993 8 3 29,993 13 0 563 15 7 4,757 10 9 13,080 16 6 69,609 18 0 619 5 7 4,445 6 3 1,267,825 9 9 550,000 0 0 Less Treasury Bills outstanding .. 1,167,849 6 5 400,000 0 0 767,849 6 5 717,825 9 9 Totals .. .. !9,267,751 1 9 £11,091,314 6 2
8.—6.
Table No.1—continued.
4
RECEIPTS. 1907-1908. 1906-1907. . £ s. d. 700,000 0 0 Treasury Bills outstanding at beginning of Year £ s. d. £ s. d. 550,000 0 0 700,000 0 0 Treasury Bills issued during Year, — In renewal of Bills falling due 31st Deoember, 1907 550,000 0 0 Totals £1,100,000 0 0 £1,400,000 0 0 STATE FORESTS £ s. d. Balance at beginning of Year,— 20 488 5 6 Cash in the Public Account Advances in hands of Officers of the Government — 489 10 0 In the Dominion £ s. d. 16,379 6 5 £ s. d. 73 7 6 20,977 15 6 16,452 13 11 20,977 15 6 1,842 1 1 Rents from Lands set apart .. 18,584 0 3 Miscellaneous nr\ A nc 1 A 1,842 1 1 18,584 0 3 3,083 1 5 15,174 18 10 18,258 0 3 20,426 1 4 £41 .403 16 10 Totals 20,426 1 4 £34,710 14 2 £41,403 16 10 STATE COAL- £ s. d. Balance at beginning of Year, — 101,298 3 3 Cash in the Public Account Advances in the hands of Officers of the Government— 3,704 1 0 In the Dominion 1,876 15 2 In London £ s. d. 91,213 16 9 £ s. d. 4,613 7 5 95,827 4 2 106,878 19 5 • 161,214 1 10 Proceeds of sale of coal 222,583 0 4 161,214 1 10 " The State Coal Mines Aot, 1901,"— Debentures matured 1st April, 1907, renewed under " The New Zealand Loans Aot, 1904 " .. 100,000 0 0 £268.093 1 3 Totals £418,410 4 6 £268,093 1 3 SCENERY PRESERVATION i £ f. d. 2,777 18 10 Balance at beginning of Year,— Cash in the Public Account Advances in the hands of Officers of the Government— In the Dominion £ s. a. 3,678 2 0 £ s. d. 46 19 11 3,678 2 0 2,824 18 9 "The Scenery Preservation Act, 1903," — Proceeds of Debentures issued ! 10,000 0 0 10,000 0 0 £12,824 18 9 Totals £13,678 2 0
8.—6.
STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1908, compared with the Financial Year ended 31st March, 1907. TREASURY BILLS ACCOUNT.
5
1906-1907. EXPENDITURE. 1907-1908. £ s. a.I 700,000 0 0 ! Treasury Bills renewed during Year .. 150,000 0 0 Treasury Bills paid off during Year £ a. d. 550,000 0 0 150,000 0 0 £ s. d. 700,000 0 0 850,000 0 0 550,000 0 0 ! Treasury Bills outstanding at end of Year 400,000 0 0 £1,400,000 0 0 .400.000 0 0 Totals £1,100,000 0 0 ACCOUNT. £ s. d. Annual Appropriation, — Vote 123 —State Forests Branch .. .. .» £ s. d. | £ s. d. 24,951 2 11 25,831 6 4 16,379 6 5 Balance at end of Year, — Cash in the Public Account Advanoes in the hands of Officers of the Government — In the Dominion 8,487 9 4 73 7 6 391 18 6 —i 8,879 7 10 16,452 13 11 Totals £34,710 14 2 £41,403 16 10 MINES ACC( OUNT. ■ £ s. d. 125,951 10 1 . Annual Appropriation,— Vote 124—State Coal-mines £ s. d. £ s. d. 190,425 0 0 41,414 7 0 I Expenditure under section 110 of " Tho Coal-mines Act, 1905 ".. 39,717 8 8 4,900 0 0 I Interest on Debentures issued under " The State Coal-mines Aot, 1901 " .. 4,200 0 0 " The State Goal Mines Act, 1901,"— Debentures maturea, 1st April, 1907, paia off Debentures maturea, 1st April, 1907, renewea as per contra 40,000 0 0 100,000 0 0 140,000 0 0 91,213 16 9 Balance at ena of Year, — I Cash in the Public Account Aavances in the hanas of Officers of the Government— i In the Dominion r 44,060 14 6 7 14 44,067 15 10 4,613 7 5 95,827 4 2 I ! Totals £268,093 1 3 £418,410 4 6 ACCOUNT. £ s. d. 9,146 16 9 Annual Appropriation, — Vote 125 —Scenery Preservation £ s. d. £ s. d. 5,484 7 1 3,678 2 0 Balance at end of Year, — Cash in the Publio Account Advances in the hands of Offioers of the Government— In the Dominion 8,182 18 11 8,193 14 11 10 16 0 3,678 2 0 £12,824 18 9 Totals £13,678 2 0
8.-6.
Table No.1—continued.
6
1906-1907. RECEIPTS. 1907-1908. £ s. d. 10,934 13 1 Balance at beginning of Year, — Cash in the Public Account Advances in the hands of Officers of the Government — In the Dominion £ s. d. 15,814 11 0 88 5 9 £ s. d. 15,902 16 9 - 75 10 8 8,259 4 2 18,853 15 4 18,558 9 5 29,728 11 9 11,010 3 4 Revenue received for Local Bodies, — Fees, Fines, &c. Endowments of Land, &c.. Goldfields Revenue Gold Duty 8,940 12 10 22,070 19 2 18,247 13 6 30,684 17 10 79,944 3 4 75,400 0 8 Counties Separate Accounts, — Revenue of Counties in which " The Counties Act, 1886," is not in full operation 161 9 3 146 13 5 36,241 12 1 72 18 1 Advance Account, — Amount repaid by Local Bodies Ditto on account of Unauthorised Expenditure of previous years 46,665 15 5 62 12 8 46,728 8 1 36,314 10 2 £122,886 3 5 Totals £142,722 1 7 DEPOSIT £ s. d. 147,053 8 11 Balance at beginning of Year, — Cash in the Public Account Advances in the hands of Officers of the Government— In the Dominion In London £ s. d. 138,680 0 10 £ s. d. 2,272 9 7 58,444 16 9 131 3 2 61,129 16 0 207,770 15 3 199,941 0 0 47,298 19 8 50-0 0 824 5 6 278 3 9 66 12 3 400 0 0 74 8 4 946 3 4 81,199 2 2 107,940 9 3 1,283 19 3 9 10 6 11 5 0 158 2 0 47 9 3 155 8 8 205 3 6 48 8 9 69 7 0 79 6 9 46 8 3 164 10 0 98 12 3 187 12 6 35 13 0 1,173 2 6 97 10 0 7 10 0 47 0 0 Lodgments,— Emigrants' Deposits Fisheries Conservation Aot, 1884, and Amendment Acts General Assembly Library Fund Greymouth Harbour Board Act, 1884, Special Goal Rate Account Hospitals and Charitable Institutions Acts, 1885-86 Imperial Government (South Africa Contingents) Land Transfer Act, 1885 Maori Land Administration Suspense Account .. .. Maori Land Settlement Aot, 1905 Mining Districts Land Occupation Act, 1894 .. Miscellaneous Money-oraer Settlement Moiety of Rotorua Bath Fees Native Township of Hokio .. „ Karewa .. . • ... Parata Parawai „ Pipiriki Potaka „ Rotoiti Te Araroa Te Puia Te Puru Tokaanu Tuatine „ Waipiro Nelson Rifle Prize Fund New Zealand International Exhibition New Zealand University Endowment, Canterbury .. .. .. ... New Zealand University Endowment, Westland North Island Experimental Dairy School North Island Main Trunk Railway Loan Application Act 1886 Amendment Act, 1889 .. Public Trust Office Remittance Account Railways Tauranga Educational Endowment Reserves Act, 1896 Te Aroha Domain Board Thermal-springs Districts Act, 1881 Trustees Act, 1883 Unclaimed New Zealand Bonds Westport Harbour Board Act, 1884, Special Coal Rate Account 35,220 3 9 7 15 3 75 0 0 895 6 1 7 17 6 1,359 12 0 7,019 13 5 990 13 7 149,500 10 4 146,174 2 6 1,311 18 10 12 11 0 7 0 0 86 0 8 48 7 0 176 15 8 163 17 6 27 8 9 70 0 6 55 15 0 17 10 6 174 18 3 89 18 6 128 14 0 26 15 0 458 18 0 195 0 0 47 0 0 15,279 8 9 29,738 4 11 11,620 0 0 33 8 8 901 3 1 129 5 0 24,249 8 4 22,377 5 11 10,880 0 0 33 4 5 258 7 6 521 12 2 200 0 0 1,712 15 1 1,568 7 3 404,581 17 0 302,274 1 1 £510,044 16 4 Totals £604,522 17 0
8.—6.
STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1908, compared with the Financial Year ended 31st March, 1907. ACCOUNTS OF LOCAL BODIES.
7
1906-1907. EXPENDITURE. 1907-1908. £ s. d. 8,194 17 9 19,758 4 5 18,078 12 11 29,541 15 2 Revenue paid over to Local Bodies, — Fees, Fines, &c. Endowments of Land,!&c. Goldfields Revenue Gold Duty £ s. d. 9,232 3 0 21,550 19' 8 17,966 19 0 31,902 7 0 £ s. d. 80,652 8 8 75,573 10 3 Counties Separate Account, — Amount distributed amongst Local Bodies where "The Counties Act, 1886," is not in full operation 131 12 1 203 6 6 31,206 9 11 Advance Accounts, — Payments on behalf of Local Bodies 46,743 18 7 15,814 11 0 Balance at end of Year,— Cash in the Public Account Advances in the hands of Officers of the Government — In the Dominion 15,194 2 3 88 5 9 15,194 a 8 15,902 16 9 Totals j £122,886 3 5 ! £142,722 1 7 ACCOUNTS. £ s. d. 48,362 19 8 50 0 0 4 15 5 1,210 15 3 475 0 0 642 6 4 Withdrawals, — Emigrants' Deposits General Assembly Library Funa Hospitals ana Charitable Institutions Acts, 1885-86 Imperial Government (South Africa Contingents) Lana Transfer Acts, 1883-85 Maori Land Administration Suspense Account Maori Land Settlement Act, 1905 Mining Districts Land Occupation Act, 1894.. Miscellaneous Money-order Settlement Native Township, Parata .. „ Pipiriki Potaka Te Puru Tokaanu.. „ Waipiro Nelson Rifle Prize Fund New Zealand International Exhibition New Zealand University Endowment, Canterbury Ngatirahiri Compensation North Island Main Trunk Railway Loan Application Act 1886 Amendment Act, 1889 .. North Island Experimental Dairy School Public Trust Office Remittance Account Railways Tauranga Educational Endowment Reserves Act, 1896 Te Aroha Domain Board Thermal-springs Districts Act, 1881 £ s. d. 35,840 17 7 75 0 0 279 8 8 230 6 3 206 16 9 £ s. d. 503 14 5 108,879 15 9 81,340 9 8 41 8 0 163 11 7 169 17 6 760 7 3 535 12 10 174,048 14 2 99,424 2 6 195 1 6 20 0 0 2,844 17 10 126 4 10 200 4 3 11 6 7 84 9 0 312 14 8 63 6 6 458 18 0 3,142 13 10 , 15 9 19,508 1 10 6,247 0 7 26 5 7 20,696 9 8 13,859 2 10 36,747 0 0 4,859 10 0 800 0 0 3,172 10 8 112 1 4 42 17 6 310,103 16 4 356,674 5 7 138,680 0 10 131 3 2 61,129 16 0 Balance at end of Year, — Cash in the Public Account Advances in the hands of Officers of the Government — In the Dominion In London 244,909 18 2 40 11 11 2,898 6 4 199,941 0 0 247,848 11 5 £510,044 16 4 Totals £604,522 17 0
8.-6.
Table No.1—continued.
8
1906-1907. RECEIPTS. 1907-1908. £ s. d. 428,019 6 2 Balance at beginning of Year, — Cash in Public Account Advances in the hands of Officers of the GovernmentIn the Dominion In London Investment Acoount £ s. d. 323,071 0 0 £ s. d. 11,647 16 8 44,631 11 3 8,000 0 0 15,265 0 9 21,063 18 2 359,399 18 11 492,298 14 1 The Aid to Public Works and Land Settlement Act, 1900 — Provision for debentures matured 1st May, 1907 — Debentures sold Debentures renewed under " The New Zealand Loans Act, 1904 " 500 0 0 3,000 0 0 3,500 0 0 The Aid to Publio Works and Land Settlement Act, 1902,— Debentures issued for redemption of debentures matured 1st December, 1906 .. 200 0 0 The Aid to Public Works and Land Settlement Act, 1906, — Proceeds of scrip and debentures issued (balance £1,000,000 loan) Premium received 56,400 0 0 1,920 0 0 58,320 0 0 943,600 0 0 4,890 0 0 948,490 0 0 The Aid to Public Works and Land Settlement Act, 1907,— Proceeds of sorip and debentures issued (on acoount £1,000,000 loan) Premium received.. 808,200 0 0 11,594 0 0 819,794 0 0 Special Receipts in connection with the Ellesmere and Forsyth Reclamation and Akaroa Railway Trust 1,640 6 1 1,559 11 10 775,000 0 0 Revenue transferred from the Consolidated Fund in aid of Public Works 800,000 0 0 125,000 0 0 The Native Land Purchases Act, 1892,— Debentures matured 31st October, 1906, renewed under " The New Zealand Loans Aot, 1904 " The Aid to Public Works and Land Settlement Act, 1901,— Debentures matured 1st December, 1906, renewed under " The New Zealand Loans Act, 1904 " 1,000 0 0 657,700 0 0 10,000 0 0 1,704 0 0 The Aid to Public Works and Land Settlement Act, 1902,— Provision for Debentures matured 1st December, 1906— Debentures renewed under " The New Zealand Loans Act, 1904 " .. Debentures sold.. Premium received on sale and renewal of debentures 669,404 0 0 182,086 7 6 9,240 9 0 The Aid to Public Works and Land Settlement Act, 1905, — Proceeds of debentures and scrip issued (balance £1,000,000 loan) Premium reoeived 191,326 16 6 Totals 53,204,079 2 5 £2,042,854 5 0
B.— &.
STATEMENT of the RECEIPTS and EXPENDITURE of the PUBLIC WORKS FUND for the Year ended 31st March, 1908, compared with the Financial Year ended 31st March, 1907.
9
™-1906-1907. EXPENDITURE. 1907-1908. £ s. d. £ s. d. £ s. d. 16,710 5 7 1,227,834 2 1 4,663 15 1 226,917 18 9 4,503 17 8 42,270 13 0 14,352 9 0 347,469 16 4 11,064 9 5 9,135 6 9 114,068 3 3 695 1 2 14,873 15 10 5,605 4 6 Annual Aooronriations, — 710 5 7 Class XXVtl.—Public Works, Departmental 334 2 1 „ XXVIII.—Railways .. 363 15 1 , XXIX.—Utilisation of Water-power .. 317 18 9 „ XXX.—Public Buildings .. >03 17 8 » XXXI.—Lighthouses, Harbour-works, and Harbour Defences 270 13 0 . XXXn.—Tourist and Health Resorts.. .. .. .."-.. 152 9 0 „ XXXIII.—Immigration 169 16 4 „ XXXIV.—Roads .. .. .. .. .. .. • - .. )64 9 5 „ XXXV.—Development of Goldfields .. .. ; . L35 6 9 , XXXVI.—Purchase of Native Lands .. )68 3 3 . XXX VI I.—Telegraph Extension S95 1 2 „ XXXVIII.-Rates on Native Lands .. .. ... 573 15 10 „ XXXIX.—Contingent Defence !05 4 6 „ XL.—Lands Improvement .. .. .. .. ' ..- .64 18 5 18,027 1 3 1,056,925 17 4 314 13 6 219,148 1 11 6,862 19 10 45,026 11 1 9,130 17 7 323,716 19 4 8,631 12 2 2,190 9 2 155,491 8- 6 836 17 6 18,574 9 0 9,560-13 1 2,040,164 18 5 1,874,438 11 3 / Unauthorised, — .54 6 6 Services not provided for .'. .. .. 154 6 6 7,125 7 5 The Aid to Public Works and Land Settlement Act, 1900, — Debentures matured 1st May, 1907, redeemed ., - ., - ;; - —..- Debentures matured 1st May, 1907, renewed as per contra 500 0 0 3,000 0 0 3,500 0 0 10,000 0 0 657,700 0 0 The Aid to Public Works and Land Settlement Act, 1902,— 00 0 0 Debentures matured 1st December, 1906, redeemed .. .. 00 0 0 Debentures matured ljt December, 1906, renewed as per contra 200 0 0 200 0 0 667,700 0 0 00 0 0 1,000 ~o 0 The Aid to Public Works and Land Settlement Act, 1901,— 00 0 0 Debentures matured 1st December, 1906, renewed as per contra ._. ... 125,000 0 .0 The Native Land Purchases Act, 1892,— 00 0 .0 Debentures matured 31st October, 1906, renewed as per contra 721 3 7 8,586 16 5 1,351 18 7 Charges and Expenses, authorised by "The New Zealand Loans Act, 1904," in respect of loans raised under — 21 3 7 Aid to Publio Works and Land Settlement Aot, 1902 .. S6 16 5 Aid to Puhlic Woiks and L<nd Settlement Aot, 1905 .. 5118 7 Aid to Public Works and Land Settlement Act, 1906 .. .. .. .. Aid to Publio Works and Land Settlement Aot, 1907 641 18 10 4,385 8 8 5,027 7 6 10,659 18 7 59 18 7 323,071 0 0 Balance at end of Year,— fl 0 0 Cash in the Public Account Advances in the hands of Officers of the Government— 35 0 9 In the Dominion 33 18 2 In London in io il 124,769 0 0 15,265 0 9 21,063 18 2 13,654 4 8 14,139 14 2 152,562 18 10 359,399 18 11 )9 18 11 79 2 5 Totals 23,204,079 2 5 £2,042,854 5 0 2—B. 6.
8.-6.
Table No.1—continued.
THE RAILWAYS IMPROVEMENTS AUTHORISATION ACT ACCOUNT
THE WAIKAKA BRANCH RAILWAY
STATEMENT of the RECEIPTS and EXPENDITURE of the CHEVIOT ESTATE ACCOUNT
10
I 19O6-19O7. RECEIPTS. 19O7-19O8. £ s. d. Balance at beginning of Year, — Cash in the Publics Account Advances in the hands of Officers of the Government— In London £ s. d. £ s. d. 88.982 7 0 12,074 8 2 9.050 0 0 12,074 8 2 48,032 7 0 " The Hutt Railway and Road Improvement Acts, 1908 and 1905 " — Proceeds of Debentures issued 50,000 0 0 Totals £48,0S2 7 0 £62,074 8 2
. £ . s. d. Balance at beginning of Year, — Cash in the Public Account £ 9. d. £ s. d. 93,526 10 10 175,483 5 10 ; "The Railways Improvements Authorisation Act, 1904," — Proceeds of Scrip and Debentures issued Premiums received 65,000 0 0 J 1,300 0 0 j * ■ . . Totals .. ! , 66,300 0 0 £159,826 10 10 £175,483 5 10
£ a. a. s. a. d. £ s. d. " The Waikaka Branch Railway Act, 1905 "— Proceeds of £53,476 3-per-cent. Debentures issued •.. 50,000 0 0 Total £50,000 0 0
£ s. d. Balance at beginning of Year, — Cash in Public Account Receipts under " The Cheviot Estate Disposition Act, 1898," — Bents from Lands £ s. d. £ s. d. 38,122 19 5 42,895 10 3 13,672 15 5 14,291 5 10 Totals £57,186 16 1 £51,795 H 10 I '
8.-6.
STATEMENT of the RECEIPTS and EXPENDITURE of the PUBLIC WORKS FUND for the Year ended 31st March, 1908, compared with the Financial Year ended 31st March, 1907. HUTT RAILWAY AND ROAD IMPROVEMENT ACCOUNT for the Year ended 31st March, 1908, compared with the Financial Year ended 31st March, 1907.
for the Year ended 31st March, 1908, compared with the Financial Year ended 31st March, 1907.
ACCOUNT for the Year ended 31st March, 1908.
for the Year ended 31st March, 1908, compared with the Financial Year ended 31st March, 1907.
11
19O6-19O7. EXPENDITURE, 19O7-1908. £ s. d. 35,957 18 10 Annual Appropriation,— Vote 129—Hutt Railway and Road Improvement £ s. d. £ s. d. 46,220 19 8 Balance at end of Year, — Cash in the Public Account 12,074 8 2 15,853 8 6 £48,032 7 0 Totals £62,074 8 2
£ s. d. 81,956 15 0 Vote 130—Railways Improvements £ s. d. £ s. d. 140,052 16 4 " The Railways Improvements Authorisation Act, 1904 " — Charges and Expenses authorised by "The New Zealand Loans Act, 1904 " 408 10 6 93,526 10 10 Balance at end of Year, — Cash in the Public Account 19,365 4 0 £175,483 5 10 Totals £159,826 10 10
£ s. d. Expenditure under the Act £ s. d. £ s. d. 36,608 12 10 Balance at end of Year, — Cash in the Publio Account Advances in the hands of Officers of the Government— In London 11.41S 18 6 13,391 7 2 1,975 8 8 Total £50,000 0 0
£ s. d. 8,866 2 6 34 2 1 Interest Surveys, Roading, &o. £ a. d. 8,866 2 6 6 8 0 £ s. d. 8,900 i 7 8,872 10 6 Balance at end of Year,— Cash in the Public Account 48,314 5 7 42,895 10 3 £51,795 14 10 Totals £57,186 16 1
8.—6.
Table No.1—continued.
12
1906-1907. RECEIPTS. 1907-1908. £ s. d. £ s. d. £ 9. d, 3,508 7 7 566 3 7 400,000 0 0 Balance at beginning of Year, — Cash in the Public Account Advances in hands of Officers of the Government— In London In the Dominion .. .. .. . • • • Investment Account .. .. .. .. .'. • .. 249,320 4 4 80,000 0 0 400,000 0 0 729,320 4 4 404,074 11 2 The Land for Settlements Consolidation Act, 1900,— For acquirement of estatesProceeds of scrip and debentures issued 530,040 0 0 390,690 0 0 Provision for debentures due 1st February, 1908, — Debentures sold Debentures renewed under " The New Zealand Loans Act, 1904 " .. 266,800 0 0 148,800 0 0 415,600 0 0 3,000 0 0 814,766 0 0 75,000 0 0 Provision for Debentures due 1906, — Debentures sold .. Debentures, due 31st October, 1906, renewed Debentures, due 1st December, 1906, renewed 5,445 10 0 Premium on debentures 2,924 0 0 1,428,251 10 0 Receipts on account of oapital value of land under " The Land Laws AmendmentAct, 1907 "— Subsection (7), section 16 .. Section 20 131 0 0 1,032 0 0 1,163 0 0 ...204,921 5 4 Receipts derived from Estates, — Rents, &o. ., .. .. .... 230,857 4 11 16,000 0 0 Other Receipts,— Interest on Securities held by the Land for Settlements Investment Acoount 18,814 0 5 131 0 5 0 12 6 351 4 2 476 10 0 156 9 10 Recoveries, — Kurow Estate Lindsay Estate Loughnan Estate Pareora Estate No. 2 Plunket Estate Selwyn Estate Toka ora Estate Wangapeka Estate 2 4 2 214 16 0 150 0 0 15 1 6 382 1 8 1,115 16 11 4 15 0 61 11 11 Credits in reduction, — Bickerstafle Fencourt Lyndon No. 2 Puhuka Estate Tablelands Estate 606 19 9 6 0 0 20 0 0 632 19 9 66 6 11 Carried forward ,054,429 10 4. 1,784,883 11 1
8.-6.
STATEMENT of the RECEIPTS and EXPENDITURE of the LAND FOR SETTLEMENTS ACCOUNT for the Year ended 31st March, 1908, compared with the Financial Year ended 31st March, 1907.
13
i-190 -1 £ s. d. 2,127 9 5 600 10 5 Annual Appropriations, — Vote 126—Land for Settlements Expenses Vote 127—Workers' Dwellings Expenses £ s. d. £ s. d. £ s. d. 3,879 15 6 2,487 1 8 £ s. d 6,866 17 2 2,727 19 10 Acquirement of Estates, — Purchase-money. Incidental Expenses. Total. Name of Estate. Total. 35 2 6 19 13 6 3 6 4 866'17 8 122 11 2 3,924 0 4 1617 0 52 2 6 2,512 14 3 9 18 8 3,070 16 6 1,540 6 8 6 9 8 50 0 0 4 13 6 4,617 4 11 417 7 2 277 12 9 12 19 1 2 9 6 134 5 1 11,462 18 1 97 3 0 3 12 61 11 10 22 13 3 21,819 5 0 5 5 0 10 0 0 1 0 0 7,011 15 8 100 0 0 Airedale (Hunter and Cameron, M. Mclntjre, J. R. Gilchrist) Annan Albury Ardgowan .. Argyll. .. .. . • Barnego -. Beaumont Bickerstafle Blind River Braco Braeburn Cadman Carrmgton Carroll .. . • Chamberlain Clandon Cradock Culverden Duncan Dyer (A. Martin) Eccleston Eccleston No. 2 Edendale Elsthorpe Epuni Fencourt Flaxbourne Glenliam (T. Hunter) Greenfield .. Hall-Jones Hatuma Hawtrey Heretaunga.. Hetana Highbank Hikawera Holworthy Horsley Downs Huinga Kaimahi Kanakanae (City of Glasgow Bank Assets Company) Kapuatohe .'. Karapiro .. Kinloch Kitchener Kumeroa Kurow Langdale Lawry Lindsay Linton Longbush Loughnan Lynch's Lyndon No. 1 Lyndon No. 2 Maerewhenua Mahora Mahupuku Makareao Manga-a-toro .. .. Mangapouri (Assets Realisation Board) Mangatahi (J. H. Brookes-Smith and F. G. S. Clerihew) Mangawhata Mangawhero (Assets Realisation Board) Matamata Maytown Mead Meadowbank Melling Merrivale (J. C. Ellis) Methuen Mills Momona Morioe .. .. .. • .. Normandale Ohakea Okauia Opouriao Orakipaoa .. .. . .* Otarakaro Otekaike (Robert Campbell and Sons, Limited) Patoa Pawaho Pitt Poerua 27,398 13 6 44,904 1 2 122 5 6 46 17 6 416 14 1 271 10 9 2 11 0 0 10 6 51 12 0 2 13 0 0 10 6 160 7 7 5 18 0 37 9 2 13 12 0 503 5 8 7 16 8 0 15 0 1 11 3 95 11 4 11 9 0 2,473 9 6 96 13 3 866 3 11 2 15 0 0 8 8 1,382 15 7 102 13 6 36 18 6 19 14 11 1,497 12 10 43 2 3 137 12 4 2 14 6 2 18 0 2 17 0 1,391 19 3 2 8 4 95 14 1 85 1 5 2,620 13 5 30 0 0 2 18 6 89 10 5 41 12 10 2,518 14 11 841 10 5 27,815 7 7 271 10 9 2 11 0 0 10 6 51 12 0 2 13 0 0 10 6 160 7 7 5 18 0 37 9 2 13 12 0 503 5 8 7 16 8 0 15 0 1 11 3 95 11 4 11 9 0 2,595 15 0 96 13 3 866 3 11 2 15 0 0 8 8 1,382 15 7 149 11 0 36 18 6 19 14 11 1,497 12 10 43 2 3 137 12 4 2 14 6 2 18 0 2 17 0 1,391 19 3 2 8 4 44,999 15 3 85 1 5 2,620 13 5 30 0 0 2 18 6 89 10 5 41 12 10 2,518 14 11 841 10 5 6,512 10 11 14 0 8,312 1 0 2,179 19 9 37 10 4 37 12 9 3,371 4 8 7 3 0 0 4 6 13 4 3 3 13 10 1 10 0 2 13 6 10 0 17 0 1,139 6 3 126 2 8 3 18 0 362 8 8 0 4 6 13 4 3 3 13 10 1 10 0 2 13 6 10 0 17 0 1,139 6 3 126 2 8 3 18 0 9,687 2 8 986' 6 3 66 13 1 809 5 6 9,324 14 0 845 7 4 1 19 9 1,852 8 9 313 3 9 79,284 0 0 3,297 7 10 507 0 0 1,017 10 10 105 7 10 14 12 5 5 17 0 72 14 7 113 12 9 54 9 3 146 4 1 3 9 5 82,581 7 10 507 0 0 18,457 15 1 105 7 10 14 12 5 5 17 0 72 14 7 113 12 9 279 9 3 146 4 1 3 9 5 17,440 4 3 397 1 4 225 0 0 152 5 10 191 2 3 15 7 0 919 4 5 12 15 6 97 11 2 12 0 6 2 14 6 2 18 3 7 15 0 0 7 6 0 10 782 2 2 2 12 6 0 5 0 97 11 2 12 0 6 2 14 6 2 18 3 7 15 0 0 7 6 0 10 98,141 12 11 2 12 6 5 0 83 0 2 97,859 10 9 0 5 0 41 6 2 110 0 i 10 o 85,439 0 3 Carried forward 276,105 6 8 23,876 3 1 299,981 9 9 6,366 17 2
8.—6.
Table No.1— continued.
14
1906-1907. RECEIPTS. 1907-1908. £ s. d. 2,054,429 10 4 £ s. d. £ s. d. 1,784,883 11 1 Brought forward I Totals ■ 12,054,429 10 4 £1,784,883 11 1
8.—6.
STATEMENT of the RECEIPTS and EXPENDITURE of the LAND FOR SETTLEMENTS ACCOUNT for the Year ended 31st March, 1908, compared with the Financial Year ended 31st March, 1907—continued.
15
1906-1907. EXPENDITURE. 1907-1908. £ s. d. 85,439 0 3 Brought forward .. .. .. 276,105 6 8 23,876 3 1 £ s. d. 276,105 6 8 £ s. d. 23,876 3 1 £ s. d. 299,981 9 9 £ s. d. 6,366 17 2 140 15 10 341 19 5 18,669 9 3 149 14 5 3 8 2 5 0 0 Acquirement of Estates— continued. Purchase-monev Incidental Name of Estate. •"' Expenses. Purchase-money. Incidental Expenses. 9 3 4 462 6 6 143 1 7 85 11 7 Total. Plumer .. .. .. .. .. .. 934 Plunket (R. Oliver'and J. B. Steele) .. .. 39,916 18 5 462 6 6 Pourerere .. .. .. .. .. .. 143 1 7 Prescot .. .. .. .. .. .. 85 11 7 Puhuka Pukekura .. .. .. .. Punaroa .. .. .. .. .. .. 0 10 0 Rangiatea .. .. .. .. .. .. 6 18 0 Raumati (L. Rathbone) .. .. .. 37,97110 0 1,024 9 10 Rewi (D. Moroney) .. .. .. .. 14,000 0 0 133 111 Riohmond Brook .. .. .. .. .. 42 19 8 Ringway .. .. .. .. .. .. 25 9 0 Rosewill .. .. .. .. .. .. 383 1 6 St. Helen's Selwyn (T. Freeman) .. .. .. 200 0 0 1,492 18 7 Spotswood .. .... .. .. .. 340 Starborough .. .. .. .. .. 3 17 6 Steward .. .. .. .. .. .. 5,446 9 8 Tablelands .. .. .. .. .. .. 0 4 6 Takitu .. .. .. .. .. .. 080 Tamai .. .. .. .. .. .. 50 1 6 Tarawahi .. .. .. .. .. .. 16 2 0 Taumata (J. Gibson) .. .. .. 16,649 9 10 14113 10 Tautari (J. Grice and W. Gorrie) .. .. 29,057 11 8 89 6 4 Tawaha .. .. .. .. .. ' .. 348 0 7 Teasdale .. .. .. .. .. .. 80 6 5 Te Arai (G. R. Johnston and J. Clark) .. 113,949 0 0 247 0 9 Te Mata (B. Chambers) .. .. .. 1,712 19 4 37 14 1 Toka-ora Tokarabi .. .. .. .. .. .. 266 Tomoana .. .. .. .. .. .. 0 13 6 Totara .. .. .. .. .. .. 196 1 1 Waari .. .. .. .. .. .. 98 13 5 Waddington .. .. .. .. .. 462 Walker (R. B. Wilkinson and M. O'Brien) .. 1,290 0 0 3 3 0 Waikakahi .. ., .. .. .. .. 750 Waimana (Assets Realisation Board and M. E. H. Beale) .. .. .. .. .. 18,592 0 0 1,807 19 2 Waimarama Wangapeka (Executors of John Tinline and Territorial Revenue (purchase of Crown land) 16,247 2 0 : 528 8 7 Wharenui .. .. .. .. .. .. 4 15 3 Wigan .. .. .. .. .. .. 95 6 8 Windsor Park .. .. .. .. .. . 112 6 Windsor Park No. 2.. .. .. .. .. 112 6 Wilford (Mudgway Estate Company, Limited) .. 36 0 0 56 12 6 Willows .. .. .. .. ... Windle .. .. .. .. .. .. 2,803 9 8 flP.fi 797 17 11 39 769. H H 39,916 18 5 9 3 4 40,379 4 11 143 1 7 85 11 7 6 13 8 4 16 2 37,971 10 0 14,000 0 0 0 10 0 6 18 0 1,024 9 10 133 1 11 42 19 8 25 9 0 383 1 6 0 10 0 6 18 0 38,995 19 10 14,133 1 11 42 19 8 25 9 0 383 1 6 1,851 18 7 5 12 6 8,019 16 0 27 3 7 200 0 0 1,492 18 7 3 4 0 3 17 6 5,446 9 8 0 4 6 0 8 0 50 1 6 16 2 0 141 13 10 89 6 4 348 0 7 80 6 5 247 0 9 37 14 1 1,692 18 7 3 4 0 3 17 6 5,446 9 8 0 4 6 0 8 0 50 1 6 16 2 0 16,791 3 8 29,146 18 0 348 0 7 80 6 5 114,196 0 9 1,750 13 5 2,879 4 0 46 12 4 81' 6 0 50 0 0 16,649' 9 10 29,057 11 8 276 8 3 6,680 0 0 113,949 0 0 1,712 19 4 8 11 10 32 19 8 2 6 6 0 13 6 196 1 1 98 13 5 4 6 2 3 3 0 7 5 0 2 6 6 0 13 6 196 1 1 98 13 5 4 6 2 1,293 3 0 7 5 0 50,332 10 3 190 4 8 888 12 7 1,290 0 0 16 10 11 586 2 4 4,964 2 0 18,592 0 0 1,807 19 2 20,399 19 2 46 7 9 32 9 0 394 2 4 16,247 2 0 528 8 7 4 15 3 95 6 8 1 12 6 1 12 6 56 12 6 16,775 10 7 4 15 3 95 6 8 1 12 6 1 12 6 92 12 6 649 3 8 70 14 0 5,386 10 5 36 0 0 2,803' 9 8 2,803' 9 8 565,727 17 11 188,277 19 10 565,727 17 11 39,7bii y K The Land for Settlements Consolidation Act, 1900, — Debentures redeemed — Matured 1st February, 1908 Matured 1st November, 1906 Debentures renewed— Matured 1st February, 1908, as per contra Matured 1st December, 1906, as per contra.. 39,762 9 3 605,490 7 2 605,490 7 2 266,800 0 0 3,000' 0 0 415,600 0 0 75,000 0 0 148,800 0 0 78,000 0 0 The Land for Settlements Act, 1892,— Debentures matured 31st October, 1906, renewed as per contra 45,276 0 0 The Land for Settlements Act, 1894,— Debentures matured 31st October, 1906, renewed as per contra 769,490 0 0 1,378 3 6 Charges and Expenses,— On issue of Debentures On renewal of Debentures On redemption of Debentures.. 956 6 11 15 18 4 865 14 6 1,837 19 9 1,378 3 6 188,012 13 0 Interest recouped to Consolidated Fund in respect of Debentures issued 209,060 14 8 Amount paid to the Publio Trustee in terms of section 5 of "The New Zea'and Loans Act Amendment Act, 1906," for the purpose of providing a sinking fund for repayment of securities issued under the Land for Settlements Acts 54,465 0 0 50,165 0 0 1,781 9 10 Unauthorised 249,320 4 4 so.ooo' 0 0 400,000 0 0 Balance at end of Year, — Cash in the Public Account Advances in the hands of Officers of the Government — In the Dominion .. In London Investment Account .. 89,645 17 11 1,001 6 4 1,415 8 1 400,000 0 0 492,062 12 4 729,320 4 4 Totals £2,054,429 10 4 £1,784,883 11 1
8.—6.
Table No.1—continued.
STATEMENT of the RECEIPTS and EXPENDITURE of the CONVERSION
16
19O6-19O7. RECEIPTS, 1907-1908. £ e. d. 135,988 7 4 Balance at beginning of Year, — Cash in the Public Account .. Advances in the hands of Officers of the Government— In the Dominion £ s. d, 95,687 7 0 £ s. d. 886 17 7 96,574 4 7 135,988 7 4 " The Maori Land Settlement Act Amendment Act, 1907 " — Proceeds of Debentures issued 50,000 0 0 65,975 0 0 1,000 0 0 " The Maori Land Settlement Act, 1905 " — Proceeds of Debentures and Scrip issued Premium received 66,975 0 0 £202,963 7 4 Totals .. .. .. £146,574 4 7
£ s. d. 8,377 14 5 485 4 6 Balance at beginning of Year, — Cash in the Public Account .. .. In the hands of Stock Agents — Cash In the hands of the High Commissioner— 3J-per cent. Stock for sale 266 8 8 102,000 0 0 £ s. d. £ s. d. 102,266 8 8 97,179 13 7 Less cash overdrawn 8,862 18 11 5,086 15 1 241,700 0 0 600,266 0 0 3£-per-cent. Inscribed Stock,— Issued for redemption of Debentures Issued for conversion of Debentures.. IsSiUed for expenses of conversion 288,000 0 0 340,676 10 0 5,000 0 0 633,676 10 0 841,965 0 0 75,555 11 1 10,580 0 0 1 3-per-cent. Inscribed Stock,— Issued for redemption of Debentures Issued for expenses of conversion ; 80,135 11 1 50 0 0 Premium received on sale of 3J-per-cent. Stock 106 5 0 4 Totals £937,014 10 C £638,869 10 1
8.—6.
STATEMENT of the RECEIPTS and EXPENDITURE of the MAORI LAND SETTLEMENT ACT ACCOUNT for the Year ended 31st March, 1908, compared with the Financial Year ended 31st March, 1907.
ACCOUNT for the Year ended 31st March, 1908, compared with the Financial Year ended 31st March, 1907.
3—B. 6.
17
19O6-19O7. EXPENDITURE. 19O7-19O8. £ s. d. 1,604 7 5 Vote 128—Maori Land Settlement Expenses £ s. d. ■ £ s. d. 2,574 9 0 • 139,67113 2 94,731 1 7 Acquirement of Land 9,286 3 9 Unauthorised Charges and Expenses on issue of Debentures under authority of "The New Zealand Loans Act, 1904".. 767 10 0 Balance at end of Year, — Cash in the Public! Account Advances in the hands of officers of the Government — In the Dominion 4,299 5 3 95,687 7 0 886 17 7 28 17 2 96,574 4 7 4,328 2 5 Totals £202,963 7 4 £146,574 4 7
£ s. d. £ s. d. £ a. d. 68,000 0 0 100,000 0 0 Debentures redeemed, — Consolidated Loan Act, 1867, 5 per cent, (annual drawing) Immigration and Public Works Loan Act, 1870; matured 1st June, 1907 Aid to Public Works and Land Settlement Act, 1900; matured 1st February, 1908 Land for Settlements Consolidation Act, 1900— Matured 1st June, 1907 Matured 30th June, 1907 Matured 1st September, 1907 Matured 1st February, 1908 Aid to Public Works and Land Settlement Act, 1900; matured 1st April, 1906 .. Aid to Public Works and Land Settlement Act, 1902 ; matured 1st December, 1906 4,300 0 0 3,500 0 0 20,000 0 0 25,000 0 0 50,000 0 0 25,000 0 0 138,300 0 0 69,700 0 0 79,100 0 0 266,100 0 0 316,800 0 0 127,445 0 0 166,570 0 0 55,620 0 0 Amount Rate Premium Debentures converted into 3£-per-cent. In- converted. scribed Stock,— £ £ £ s. Immigration and Public Works Loan Act, 1870 196,500 102J 4,912 10 I Aid to Public Works and Land Settlement Act, ( 30,000 103 900 0 1 1900 .. .. .. •• .. 1 1,500 101 15 0 f Aid to Publics Works and Land Settlement Act, I 18,600 101 186 0 J 1904 .. .. .. •• .. t 10 ° 103 3 ° Aid to Public Works and Land Settlement Act, 1905 .. .. .. •• •• 7,000 103 210 0 Land for Settlements Consolidation Act, 1900.. j ° Government Advances to Settlers Act, 1894 Aid to Public Works and Land Settlement Aot, 1903 Hutt Bailway and Road Improvement Acts, 1903 and 1905 .. cpsq 7nn fin Q7R in 14,635 0 0 140,000 0 0 70,246 0 0 25,750 0 0 £332,700 .. £7,976 10 £332,700 £7,976 10 600,266 0 0 340,676 10 0 340,676 10 0 50 0 0 8,692 19 1 5,737 1 3 381 14 7 Expenses Account, — Brokerage and Commission Discount Stamp Duty .. • • ■ ■ ■ ■ • • .... Rent and Office Expenses Interest Law Costs 2,062 10 0 3,512 10 0 3,945 10 11 376 12 10 2,073 3 1 8 8 0 14,861 U 11 11,978 14 10 266 8 8 Balance at end of Year, — In the hands of Stock AgentsCash .. In the hands of High Commissioner — 3J-per-oent. Stock for sale 188 9 11 102,000 0 0 50,000 0 0 102,266 8 8 Less cash overdrawn 50,188 9 11 30,074 4 8 20,114 5 3 97,179 13 7 5,086 15 1 Totals £937,014 10 0 £638,869 10 1
8.—6.
Table No.1—continued.
STATEMENT of the RECEIPTS and EXPENDITURE of the GOVERNMENT ADVANCES TO WORKERS
STATEMENT of the RECEIPTS and EXPENDITURE of the LOANS TO LOCAL BODIES
18
19O6-19O7. RECEIPTS. 19O7' ■19O8. £ s. , d. £ s. a. £ s. d. 12,939 0 2 Balance at beginning of year,— Gash in the Public Account 171,952 7 7 Receipts, including Instalments, Interest, Sinking Fund, &o. .. 338,679 2 7 50,000 0 0 " The Government Advances to Settlers Act, 1906," — Proceeds of Debentures issued 310,000 0 0 90,365 10 8 Amounts transferred from the Government Advances to Settlers Account to the Public Account Totals £661,618 2 9 £312,317 18 3
£ s. a. a s. a. £ s. a. Balance at beginning of year,— Cash in the Public Account 15,543 8 8 61 17 6 Receipts, including instalments, interest, &c. .. 1,110 7 1 20,000 0 0 "The Government Advances to Workers Act, 1906," — Proceeds of Debentures issued 90,000 0 0 £20,061 17 6 Totals ... £106,653 15 9
& s. a. £ s. d. £ a. d. 779 12 2 Balance at beginning of Year, — Cash in the Public Account Advances in hands of Officers of the Government— In the Dominion 397 0 8 397 0 8 4 0 0 783 12 2 180,000 0 0 " The Looal Bodies' Loans Act, 1901," — Proceeds of Debentures issued 185,000 0 0 " The Government Loans to Looal Bodies Act, 1886 " — Debentures due 1st September, 1907, renewed under "The New Zealand Loans Act, 1904" 250,300 0 0 Repayments under sections 61 and 70 of " The Looal Bodies' Loans Act, 1901," — Counties — Clifton Clutha Kiwitea Stratford Wairarapa South 178 11 7 71 12 3 321 7 3 30 3 2 91 7 7 117 4 9 Road Boards— Manganui 324 5 1 144 7 7 Boroughs— Whangarei 152 5 9 818 2 3 613 2 9 Carried forward 181,396 14 11 436,515 2 11
8.—6.
STATEMENT of the RECEIPTS and EXPENDITURE of the GOVERNMENT ADVANCES TO SETTLERS ACCOUNT for the Year ended 31st March, 1908, compared with the Financial Year ended 31st March, 1907.
ACCOUNT for the Year ended 31st March, 1908, compared with the Financial Year ended 31st March, 1907.
ACCOUNT for the Year ended 31st March, 1908, compared with the Financial Year ended 31st March, 1907.
19
19O6-19O7. EXPENDITURE. 19O7-19O8, £ b. d. 64,864 9 3 Vote No. 136 —Office-management expenses £ s. d. £ t>. d. 60,658 7 0 234,514 8 10 Payments made on account of advances on mortgage 590,336 4 7 Amount transferred from the Public Acoount to the Government Advances to Settlers Aooount 10,623 11 2 12,939 0 2 Balance at end of Year— Cash in the Public Acoount Totals £661,618 2 9 £312,317 18 3
£ s. a. 347 12 10 Vote No. 137 —Office-management expenses £ s. d. £ s. d. 664 18 10 4,170 16 0 Payments made on account of advances on mortgage .. 94,097 3 7 Amount transferred from the Public Account to the Government Advances to Workers Account 11,891 13 4 15,543 8 8 Balance at end of Year — Gash in the Public Account £20,061 17 6 Totals £106,653 15 9
Grants under " The Looal Bodies' Loans Act, 1901,"— Counties — Akitio Bruce Clifton Clutha Collingwood Cook Bgmont Eketahuna Featherston Geraldine Grey Hawera Hobson Horowhenua Hutt Kairanga Kawhia Kiwitea Levels Mackenzie Manawatu Masterton Ohinemuri Opotiki Oroua Otamatea Pahiatua Patea Piako Pohangina Raglan Bangitikei Stratford Taieri Taranaki Tauranga Waiapu Waimarino Waimea Waipa Waipawa .. • • Wairarapa South Wairoa Waitotara Westland Whangarei Woodville £ s. d. £ s. d. £ s. d. 100 0 0 450 0 0 2-, 000 0 0 2,400 0 0 1,600 0 0 5,830 0 0 500 0 0 350 0 0 3,080 0 0 1,950 0 0 6,000 0 0 3,500 0 0 1,000 0 0 2,000 0 0 399 0 0 1,601 0 0 3,500 0 0 2,000 0 0 3,158 0 0 2,750 0 0 4,500 0 0 1,650 0 0 1,750 0 0 1,000 0 0 800 0 0 5,938 0 0 600 0 0 500 0 0 1,250 0 0 5,200 0 0 1,700 0 0 1,000 0 0 5,450 0 0 4,620 0 0 1,700 0 0 2,000 0 0 1,150 0 0 6,000 0 0 350 0 0 2,000 0 0 1,050 0 0 4,400 0 0 5,980 0 0 2,839 0 0 50 0 0 2,950 0 0 1,000 0 0 500 0 0 1,481 0 0 600 0 0 211 0 0 400 0 0 1,600 0 0 1,650 0 0 6,000 0 0 6,000 0 0 3,100 0 0 3,250 0 0 1,000 0 0 500 0 0 400 0 0 I 1,100 0 0 1,419 0 0 2,950 0 0 1,200 0 0 3,100 0 0 2,500 0 0 100 0 0 2,425 0 0 512 0 0 2,500 0 0 250 0 0 76,547 0 0 Carried forward 76,547 0 0 79,796 0 0
8.—6.
Table No.1—continued.
20
1906-1907. RECEIPTS. 1907-1908, £ s. d. 181,396 14 11 Brought forward £ s. d. £ a. d. 436,515 2 11 t * • Carried forward 181,396 14 11 £436,515 2 11
8.—6.
STATEMENT of the RECEIPTS and EXPENDITURE of the LOANS TO LOCAL BODIES ACCOUNT for the Year ended 31st March, 1908, compared with the Financial Year ended 31st March, 1907—continued.
21
1906-1907. EXPENDITURE. 1907-1908. £ s. d. 79,796 0 0 £ s. d. £ s. d. 76,547 0 0 Brought forward Grants under "The Local Bodies' Loans Act, 1901 "— continued. City Counoil— Christchurch 3,000 0 0 120 0 0 1,000 0 0 1,000 0 0 1,600 0 0 1,323 0 0 2,005 0 0 2,000 0 0 Boroughs— Akaroa Balolutha Birkenhead Carterton Cromwell Dannevirke Eketahuna Eltham Feilding Foxton Greymouth Hamilton Hokitika Kumara .. Maori Hill New Plymouth Oamaru Pahiatua .. •. • • . • ■ Petone Waihi Westport Woodville 380 0 0 2,800 0 0 700 0 0 1,000 0 0 1,000 0 0 600 0 0 2,800 0 0 600 0 0 2,449 0 0 5,000 0 0 1,300 0 0 500 0 0 1,750 0 0 4,000 0 0 1,200 0 0 3,100 0 0 4,000 0 0 2,000 0 0 350 0 0 2,000 0 0 1,500 0 0 2,000 0 0 23,348 0 0 26,729 0 0 500 0 0 2,000 0 0 500 0 0 1,000 0 0 600 0 0 250 0 0 1,000 0 0 200 0 0 1,700 0 0 700 0 0 200 0 0 1,715 0 0 Road Boards— Akaroa and Wainui Awatere Barrett Carrington .. ... Egmont Hangaroa Hunua Howick Township Kaukatea Manganui Mangawhero Mataongaonga Moa Okato Otaki ■• Parihaka Pukekohe West Ricoarton Tataraimaka Upper Wangaehu Waikohu Waimate .. .. .. ... Waipipi Waitara West Waiwakaiho Whangamarino 1,000 0 0 150 0 0 2,000 0 0 825 0 0 264 0 0 920 0 0 80 0 0 2,980 0 0 800 0 0 1,410 0 0 1,500 0 0 2,150 0 0 1,900 0 0 455 0 0 700 0 0 800 0 0 250 0 0. 278 0 0 2,000 0 0 2,000 0 0 175 0 0 1,500 0 0 50 0 0 19,808 0 0 Town Boards— Bull's Eketahuna Featherston Martinborough Otautau 14,744 0 0 300 0 0 70 0 0 1,300 0 0 200 0 0 200 0 0 2,000 0 0 200 0 0 270 0 0 5,000 0 0 River Board — Hutt 5,000 0 0 1,200 0 0 900 0 0 900 0 0 1,050 0 0 Drainage Boards — Eltham Fenoourt Hunga Hunga Makerua Ohaupo Pyramid Block Sef ton-Ashley Te Rapa Wainono West Taieri 400 0 0 3,000 0 0 3,000 0 0 2,000 0 0 657 0 0 400 0 0 300 0 0 8,400 0 0 5,407 0 0 133,629 0 0 Carried forward 136,420 0 0
22
B.—6
Table No.1—continued.
STATEMENT of the RECEIPTS and EXPENDITURE of the GOVERNMENT ADVANCES TO SETTLERS
STATEMENT of the RECEIPTS and EXPENDITURE of the GOVERNMENT ADVANCES
STATEMENT of the RECEIPTS and EXPENDITURE of the BANK OF NEW ZEALAND ACT,
19O6-19O7. RECEIPTS. £ s. a. 181,396 14 11 Brought forward £ 19O7-19O8. s. d. £ s. d. 436,515 2 11 £181,396 14 11 Totals .. £436,515 2 11
£ a. d. I £ s. d. £ s. d. " The Government Advances to Settlers Act, 1906," — 100,000 0 0l Proceeds of Debentures issued 100,000 0 0 Totals .. 240,000 0 0 £240,000 0 0 r £100,000 0 0 _ I —;
£ s. a. "The Government Advances to Workers Aot, 1906," — Proceeds of Debentures issued Total £ s. d. £ s. d. 95,000 0 0 £95,000 0 0
£ a. d. Balance at beginning of Year, — 500,000 0 0 Investment Aooount £500,000 0 0 Totals .. £ s. d. £ s. d. 500,000' 0 0 £500,000 0 0
8.-6.
STATEMENT of the RECEIPTS and EXPENDITURE of the LOANS TO LOCAL BODIES ACCOUNT for the Year ended 31st March, 1908, compared with the Financial Year ended 31st March, 1907—continued.
OFFICE LOAN ACCOUNT for the Year ended 31st March, 1908, compared with the Financial Year ended 31st March, 1907.
TO WORKERS LOAN ACCOUNT for the Year ended 31st March, 1908.
1903, ACCOUNT for the Year ended 31st March, 1908, compared with the Financial Year ended 31st March, 1907.
23
19O6-19O7. EXPENDITURE. 19O7-19O8. £ a. d. 133,629 0 0 £ s. d. £ s. d. 136,420 0 0 Brought forward 47,370 14 3 Annual Appropriation,— Vote 131 —Roads to open up Crown lands 38,524 2 6 " The Government Loans to Local Bodies Act, 1886 " — Debentures matured 1st September, 1907, renewed as per contra 250,300 0 0 397 0 8 Balance at end of Year, — Cash in the Public Account 11,271 0 5 397 0 8 Totals £181,396 14 11 £436,515 2 11 $.
£ s. d. 100,000 0 0 Amount paid over to Government Advances to Settlers Office Account £100,000 0 0 Totals £ 3. d. £ s. d. 240,000 0 0 £240,000 0 0
£ s. a. Amount paid over to Government Advanoes to Workers Office Account Total £ s. d, M a. d. 95,000 0 0 £95,000 0 0
£ s. d. Balance at end of Year, — Investment Account— 500,000 0 0 75,000 preference shares issued by the Bank of New Zealand £500,000 0 0 Totals £ s. d. £ b. d. 500,000 0 0 £500,000 0 0
8.—6.
Table No.1—continued.
STATEMENT of the RECEIPTS and EXPENDITURE of the NEW ZEALAND CONSOLS
The Treasury, Wellington, 25th April, 1908.
24
I9O6-I9O7. RECEIPTS. 19O7-19O8. £ s. a. " The Reserve Fund Securities Act, 1907,"— Proceeds of Debentures created .. £ s. d. £ s. d. 800,000 0 0 Securities purchased under authority of " The Reserve Fund Securities Act, 1907," as per contra 800,000 0 0 Total £1,600,000 0 0
£ s. d. Balance at beginning of Year, — Cash in Deposit Account .. Investment Account £ s. d. £ s. d. Ill 476,850 0 0 10 1 1 478,225 0 0 478,235 1 1 476,851 1 1 1,384 0 0 Deposits inscribed 214 0 0 £478,235 1 1 Totals £478,449 1 1
B.^-6.
STATEMENT of the RECEIPTS and EXPENDITURE of the RESERVE FUND ACCOUNT for the Year ended 31st March, 1908.
ACCOUNT for the Year ended 31st March, 1908, compared with the Financial Year ended 31st March, 1907.
ROBERT J. COLLINS, Secretary to the Treasury. B. B. VINCENT, Accountant to the Treasury.
4—B. 6.
25
I9O6-I9O7. EXPENDITURE. 19O7-1908. £ s. a. a s. d. £ s. d. " The Beserve Fund Securities Act, 1907,"— Purchase of Securities (face value, £863,876 17a. lid.) 800,000 0 0 I Balance at end of Year, — Investment Account 800,000 0 0 Total £1,600,000 0 0
£ a. d. 10 1 1 478,225 0 0 478,235 1 1 Balanoe at end of Year, — Cash in Deposit Account Investment Account £ 3. d. 74 1 1 478,375 0 0 £ s. d. 478,449 1 1 Totals £478,235 1 1 £478,449 1 1
8.—6.
Table No. 1— continued. SUMMARY of BALANCES on 31st MARCH, 1908.
26
Balances. Advances. Investments. Cash. Total. Consolidated Fund: — Ordinary Revenue Account* State Forests Account State Coal-mines Account Scenery Preservation Account .. Accounts of Local Bodies Deposit Accounts £ s. d. 1,167,849 6 5 8,879 7 10 44,067 15 10 8,193 14 11 15,194 2 3 247,848 11 5 & s. d. 1,492,032 18 8 Consolidated Fund :— Ordinary Revenue Account* State Forests Account State Coai-mines Account Scenery Preservation Account .. Accounts of Local Bodies Deposit Accounts £ s. d. 1,080,094 0 1 . 8,487 9 4 44,060 14 6 8,182 18 11 15,194 2 3 244,909 13 2 £ s. d. 87,755 6 4 391 18 6 7 14 10 16 0 £ s. d. £ a. d. 1,167,849 6 5 8,879 7 10 44,067 15 10 8,193 14 11 15,194 2 3 247,848 11 5 2,93818 3 Public Works Fond 152,562 18 10 Public Works Fund 1,400,928 18 3 91,104 0 5 1,492,032 18 8 124,769 0 0 27,793 18 10 152,562 18 10 Hutt Railway and Road Improvement Account The Railways Improvements Authorisation Act Account .. Waikaka Branch Railway Account Land fob Settlements Account Maori Land Settlement Act Account Cheviot Estate Account Loans to Local Bodies Account Conversion Account New Zealand Consols Account Reserve Fund Account Bank of New Zealand Act, 1903, Account Remittances to London Account 15,853 8 6 19,365 4 0 13,391 7 2 492,062 12 4 4,328 2 5 48,314 5 7 11,271 0 5 20,114 5 3 478,449 1 1 800,000 0 0 Hutt Railway and Road Improvement Account The Railways Improvements Authorisation Act Account .. Waikaka Branch Railway Account Land for Settlements Account Maori Land Settlement Act Account Cheviot Estate Account Loans to Local Bodies Account Conversion Account New Zealand Consols Account Reserve Fund Account Bank of New Zealand Act, 1903, Account Remittances to London Account 15,853 8 6 19,365 4 0 11,415 18 6 89,645 17 11 1,975 8 8 2,416 14 5 400,OOo' 0 0 15,853 8 6 19,365 4 0 13,391 7 2 492,062 12 4 4,299 5 3 48,314 5 7 11,271 0 5 Or. 30,074 4 8 74 1 1 28 17 2 50,188' 9 11 4,328 2 5 48,314 5 7 11,271 0 5 20,114 5 3 478,449 1 1 800,000 0 0 478,37o' 0 0 800,000 0 0 500,000 0 0 Z>r.l,000,000 0 0 Cr.1,000,000 0 0 500,000 0 0 500,000 0 0 0.1,000,000 0 0 Total 3,047,745 4 3 Totals 3,047,745 4 3 695,862 14 10 173,507 9 5 2,178,375 0 0 * Against this Treasury Bills amounting to £400,000 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, 1908.
* Includes £155,332 te'id. Post and t Includes £215,395 is. 4d. additional appropriation authorised by " The Public Bevenues Acts Amendment Act, 1900, section fa. RESULTS OP YBAE. £ s. <3. ± s. d. Actual receipts, 1907-8 .. : 9.063,988 16 5 Actual expenditure, 1907-8 .. ■ • ■ • ■ • 8,213,964 19 9 Excess of reoeipts over expenditure .. .. •• ■• •■ B ?J'®? 1 q q Balance, 31st March, 1907 .. . • • ■ • ■ • ■ •■'■ n<,wo Total 1,567,849 6 5 Transferred to Public Works Fund .. 800,000 0 0 31st March, 1908 £767 ' 849 6 5
27
>IFFERENCES. Estimated. Actual. More Less than Estimate, than Estimate. RECEIPTS. Revenue Account: — Customs Railways Stamps* Land-tax Income-tax Beer Duty .. .. Registration and other Fees Marine Miscellaneous Territorial Revenue £ s. d. 2,800,000 0 0 2,550,000 0 0 1,340,000 0 0 515,000 0 0 280,000 0 0 105,000 0 0 92,000 0 0 41,000 0 0 221,000 0 0 256,000 0 0 £ s, d. 3,103,564 15 7 2,765,395 4 4 1,550,933 10 10 537,846 5 9 304,904 14 5 113,972 19 9 129,165 9 3 42,217 2 8 218,342 7 0 289,603 6 5 £ s. d. 303,564 15 7 215,395 4 4 210,933 10 10 22,846 5 9 24,904 14 5 8,972 19 9 37,165 9 3 1,217 2 8 £ s. d. 2,657 13 0 33,603 6 5 9,055,945 16 0 858,603 9 0 2,657 13 0 2,657 13 0 Recoveries on account oi Expenditure of previous years 8,200,000 0 0 855,945 16 0 8,043 0 5 8,043 0 5 Totals 8,200,000 0 0 9,063,988 16 5 863,988 16 5 EXPENDITURE. Revenue Account :— Permanent Appropriations, — Civil List Interest and Sinking Fund Under Special Acts Subsidies paid to Local Bodies Territorial Revenue Endowments Old-age Pensions £ s. d. 34,900 0 0 2,189,809 0 0 328,370 0 0 81,000 0 0 50,000 0 0 80,000 0 0 335,000 0 0 £ s. d. 35,690 17 8 2,187,419 0 0 357,221 8 10 90,135 17 2 55,219 13 4 77,898 9 1 325,036 2 6 £ s. d. 790 17 8 28,851 8 10 9,135 17 2 5,219 13 4 £ s. d. 2,390 0 0 2,101 10 11 9,963 17 6 3,099,079 0 0 3,128,621 8 7 43,997 17 0 14,455 8 5 Annual Appropriations, — Legislative Department of Minister of Finance .. Postmaster-General Industries and Commerce and Tourists Old-age Pensions .. Working Railways .. ... t Minister for Public Works Printing and Stationery Commissioner of Stamps .. . • Native Department Minister of Justice.. Police Department Minister of Mines Department of Internal Affairs Crown Law Department Defence Department Commissioner of Trade and Customs .. Marine and Harbours, &c. Department of Labour Department of Lands and Survey Minister of Agriculture Valuation Department Education Department Public Health Mental Hospitals and Hospitals and Charitable Departments Services not provided for 31,284 0 0 57,865 0 0 708,278 0 0 65,929 0 0 7,680 0 0 2,050,087 0 0 74,437 0 0 46,307 0 0 36,772 0 0 31,104 0 0 152,772 0 0 161,026 0 0 38,406 0 0 119,054 0 0 4,575 0 0 223,681 0 0 51,798 0 0 80,599 0 0 25,744 0 0 210,852 0 0 147,444 0 0 34,817 0 0 840,658 0 0 40,091 0 0 29,788 13 11 56,832 5 3 707,136 1 10 54,536 8 10 5,765 15 3 1,963,227 16 2 66,683 13 10 46,261 4 7 37,963 6 0 24,656 5 11 149,241 9 5 157,856 19 1 34,470 0 5 114,799 16 5 4,840 3 7 176,426 2 4 49,511 19 5 76,629 19 5 29,047 10 7 172,825 lb 11 136,041 8 3 33,096 5 11 821,423 2 0 33,252 18 11 1,191 6 0 1,495 6 1 1,032 14 9 1,141 18 2 11,392 11 2 1,914 4 9 86,859 4 10 7,753 6 2 45 15 5 6,447 14 1 3,530 10 7 3,169 0 11 3,935 19 7 4,254 3 7 234 16 5 47,254 17 8 2,286 0 7 3,969 0 7 3,303 10 7 38,026 3 1 11,402 11 9 1,720 14 1 19,234 18 0 6,838 1 1 110,007 0 0 99,395 4 8 4,133 3 3 4,133 3 3 10,611 15 4 5,351,267 0 0 5,085,343 11 2 8,627 19 10 274,551 8 8 Totals 52,625 16 10 289,006 17 1 52,625 16 10 236,381 0 3 8,450,346 0 0 8,213,964 19 9
8.—6.
Table No. 3. The PUBLIC DEBT of NEW ZEALAND on 31st March, 1908.
28
Amount outstanding. Due Date. Sinking Funds. Indebtedness. Amount. Annual, Charge. When payable. Kemarks. Bate. Int. j S.F. \ New Z-ealand Loan Aot, 1863 £ ■ £ 266,300 15 July, 1914 £ 193,986 £ 72,314 5 /O 1 £ 15,978 15 Jan. and 15 July. ' i Canterbury Loan Ordinance, 1862 1 3,000 12,200 } 15,200 ( 2 Jan., 1915 \ 2 July, 1916 I 18,616 Cr. 3,416 6 ' 1 1,064 ] 30 June . 31 Dec. j Consolidated Loan Act, 1867 13,000 15 April, 1913 13,000 4 j 520 ! 15 April „ 15 Oct. 14,520 : 15 April „ 15 Oot. 1,256 15 April . 15 Oct. Immigration and Public Works Loan Aot 1870 | 363,000 27,900 [ 390,900 J15 April, 1913 (15 April, 1913 363,000 27,900 4 , I . Defence and other Purposes Loan Act, 1870 \ 25,000 75,000 ! 100,000 ( Uuly, 1910 115 April, 1913 25,000 75,000 4 1,125 \ 30 June „ 31 Dec. 3,000 : 15 April „ 15 Oct. General Purposes Loan Act, 1878 .. \ 17,400 10,800 54.700 82,900 15 Oct., 1913 15 May, 1914 28 Nov., 1914 17,400 10,800 54,700 4 4 | 5 I 696 15 April „ 15 Oct. I 432 15 May . 15 Nov. | 2,735 15 May . 15 Nov. I District Railways Purchasing Acts, 1885-86 40,000 Uuly, 1909 40,000 6 j 2,400 1 April . 1 Oct. 55,713 1 Mar. . 1 Sept. fThe Sinking Fund is payable on £2,893,100 (2 per cent. 1,166,012 1 May „ 1 Nov. on £1,754,509, 1J per cent. 335, 324 J IJan. „ Uuly. on £95,277, 1 per cent, on 289,799§ 1 April „ 1 Oct. £1,043,314). {£4,900 of this amount re1,950 I M „ coverable from the Govern3,500 f iluar - - i »ept. m ent Advanoes to Settlers 6,797 1 Feb. „ 1 Aug. Office. 13,493 Mar. „ 1 Sept. §£89,700 of this amount recoverable from the Govern4,375 30 April „ 31 Oct. ment Advances to Settlers Office. Government Loans to Local Bodies Act, 1886 250,300 1 Sept., 1914 250,300 34 t Consolidated Stock Act. 1877 .. 29,150,302 9,580,674 9,659,980 1 48,390,956 I 1 Nov., 1929 • 1 Jan., 1940 1 April, 1945 29,150,302 9,580,674 9,659,980 4 34 3 Consolidated Stock Act, 1884— t Colonial Issue .. .. .. -I 65,000 100,000 194,200 385,500 I 744,700 ( 4 Jan., 1909 j 4 Jan., 1909 1 1 Feb.,1912 (31 Dec, 1914 65,000 100,000 194,200 385,500 3 3J Native Land Purchases Act, 1892 (Benewed under "The Aid to Public Works and Land Settlement Act. 1899," and " The New Zealand Loan Act, 1904") 125,000 31 Oct., 1912 125,000 34 I | Lands Improvement and Native Lands Acquisi- j tion Aot, 1894 \ 117,000 283,000 I 400,000 J 1 Sept., 1908 (30 Sept., 1908 117,000 283,000 3. 4 4,095 1 Mar. „ 1 Sept. 11,320 31 Mar. „ 30 Sept. New Zealand Consols Act, 1894 478,449 51,297,705 1 Feb., 1910 478,449 3. 16,746 | 1 Feb. „ 1 Aug. Carried forward .. 212,602 51,085,103 1,952,850 •
8.—6.
Table No. 3— continued. The PUBLIC DEBT of NEW ZEALAND on 31st March, 1908— continued.
29
' Annual Charge. Amount outstanding. Due Date. Sinking Funds. Net Indebtedness .te. S.F. Amount. When payable. Remarks. Int. Brought forward .. .. .. ! Land for Settlements Act, 1894, and Amend- ( ment Act, 1897 j £ 349,000 62,000 £ 51,297,705 | 411,000 ( 1 April, 1909 1 1 April, 1909 £ 212,602 £ 51,085,103 349,000 62,000 % 8} 34 /o £ 1,952,850 13,088 1 April and 1 Oct. 2,170 1 April „ 1 Oct. Land for Settlements Consolidation Act, 1900 5,700 10,000 13,000 814,766 5,000 250,000 230,650 106,450 38,500 263,350 337,400 7,000 185,800 400,000 187,800 99,600 8,600 171,850 50,165 82,800 39,500 45,300 50,000 183,500 77,475 214,815 168,700 293,550 39,950 27,400 45,000 4,453,621 ' 1 Feb., 1908 1 Jan., 1909 1 Jan., 1911 31 Oct., 1912 1 Jan., 1915 1 April, 1908 1 Aug., 1908 1 Jan., 1909 1 April, 1909 1 May, 1909 1 May, 1909 1 July, 1909 30 Sept., 1909 IJan., 1910 -j 1 Feb., 1910 1 Jan., 1911 1 Nov., 1911 1 Jan., 1912 1 Jan., 1912 1 Feb., 1912 1 April, 1912 1 May, 1912 1 April, 1913 30 June, 1914 1 Jan., 1915 1 Feb., 1915 1 Jan., 1921 1 Jan., 1922 1 Jan., 1922 1 Feb., 1922 [ 1 April, 1922 5,700 10,000 13.000 814,766 5,000 250,000 230,650 106,450 38,500 263,350 337,400 7,000 185,800 400,000 187,800 99,600 8,600 171,850 50,165 82,800 39,500 45,300 50,000 183,500 77.475 214,815 168,700 293,550 39,950 27,400 45,000 4 34 34 34 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 350 IJan. „ Uuly. 455 1 Jan. „ 1 July. 28,517 30 April . 31 Oct. 175 i 1 Jan. „ 1 July. 10,000 ! 1 April , 1 Oct. 9,226 i 1 Feb. „ 1 Aug. 4,258 ' Uan. „ Uuly. 1,540 1 April „ 1 Oct. 10,534 IMay „ 1 Nov. 13,496 1 Mav . 1 Nov. 280 1 Jan. , 1 July. 7,432 31 Mar. . 30 Sept. 16,000 IJan. , Uuly. 7,512 1 Feb. „ 1 Aug. 3,984 Uan. „ Uuly. 344 1 May . 1 Nov. 6,874 j Uan. „ Uuly. 2,007 I 1 April „ 1 Oct. 3,312 ! 1 Feb. „ 1 Aug. 1,580 1 April „ 1 Oct. 1,812 IMay „ 1 Nov. 2,000 1 April „ 1 Oct. 7,340 30 June . 31 Deo. 3,099 Uan. „ Uuly. 8,593 Uan. „ Uuly. 6,748 1 Feb. „ 1 Aug. 11,742 Uan. , Uuly. 1,598 1 April „ 1 Oct. 1,096 1 Fab. , 1 Aug. 1,800 1 April „ 1 Oct. Debentures not presented at due date. I Aid Jto Public Works and Land Settlement Act, 1896 15Aug.,1921 I 500,000 34 • 17,500 15 Feb. . 15 Aug. [ 20,000 352,400 120,000 149,600 3,000 500 500,000* 20,000 352,400 120,000 149,600 3,000 500 'Loan may be paid off at any time on six months' notice being given. Aid to Public Worksl and Land Settlement Act, -I 1900 645,500 /1 April, 1908 1 April, 1908 1 April, 1909 1 May, 1909 1 May, 1912 V 1 Feb., 1915 4 4 4 4 4 4 800 1 April „ 1 Oct. 14,096 1 April „ 1 Oct. 4,800 1 Jan. . 1 July. 5,984 IMay „ 1 Nov. 120 1 May „ 1 Nov. 20 1 Feb. „ 1 Aug. Carried forward ■7,307,826 2,185,132 212,602 57,095,224
8.—6.
Table No. 3— continued. The PUBLIC DEBT of NEW ZEALAND on 31st March, 1908— continued.
30
Amount outstanding. Due Date. Sinking Funds. Net Indebtedness. Annual Charge. Rbmabks. Rate. Int. I S.F. Amount. When payable. Brought forward Aid to Publio Works and Land Settlement Aot, -I 1901 j £ 15^000 152,700 17,900 63,400 1,000 £ 57,307,826 I 250,000 / 1 Jan., 1909 lDec, 1908 J IJan., 1909 I lDec, 1911 [ l'Dec, 1912 £ 212,602 •• £ 57,095,224 15,000 152,700 17,900 63,400 1,000 ( 3,000 \ 125,000 ( 542,900 342,500 % 34 4 4 4 4 % £ 2,185,132 525 6,108 716 2,536 40 ; 1 Jan. and 1 July. 1 June „ 1 Dec. 1 Jan. , 1 July. 1 June „ 1 Dec. 1 June „ 1 Dee. *" Aid to Public Works and Land Settlement Act, I 1902 • I 3,000 667,900 | 670,900 I 1 Dec, 1906 ( 1 Dec, 1912 V 1 Jan., 1909 \ 1 Feb., 1909 ( 1 Feb., 1924 1 Jan., 1912 j 1 July, 1916 | 1 Jan., 1921 I IJan., 1912 1 Dec, 1912 1 Jan., 1917 1 Jan., 1922 flJan., 1915 \ Uan., 1922 (lJan., 1923 j 5 June, 1908 (23 Oct., 1912 23 Oct., 1912 \ 6 Feb., 1915 (23 Mar., 1915 1 Jan., 1912 1 Aug., 1908 • IJan., 1911 ( Uan., 1916 II Jan., 1909 1 Mar., 1911 1 Jan , 1909 1 June, 1911 1 April, 1912 f 31 Mar., 1912 "(30 Sept., 1912 ( 1 May, 1911 \ 1 May, 1915 ) • 34 4 4 4,375 21,716 13,700 [ 1 June and 1 Dec. Debentures not presented at due date. Aid to Public Works and Land Settlement Act, j 1903 | Aid to Public Works and Land Settlement Act, 1904 Aid to Public Works and Land Settlement Act, ( 1905 1 Aid to Public Works and Land Settlement Act, \ 1906 I 342,500 200,200 299,800* 500,000 439,000 99,800 40,000 5,000 855, 200 [ 842,500 569,500 I 939,000 [-1,000,000 500,000 569,500 500,000 439,000 99,800 40,000 5,000 j 500,000 ( 355,200 16,100 f 200,000 \ 178,600 413,500 80,000 300,000 450,000 100,000 50,000 205,000 4 4 4 4 4 4 4 34 4 4 34 4 4 34 34 34 t t 34 20,000 22,780 20,000 17,560 3,992 1,600 200 17,500 14,208 644 7,000 7,144 16,540 2,800 10,500 15,750 3,500 1,750 7,175 1 Jan. „ 1 July. 1 Feb. „ 1 Aug. 1 Jan. „ 1 July. 1 Jan. „ 1 July. 1 Jan. „ 1 July. 1 Jan. „ 1 July. 1 Dec. „ 1 June. 1 Jan. „ 1 July. 1 Jan. „ 1 July. 1 Jan. „ 1 July. 1 Jan. „ 1 July. 1 Jan. „ 1 July. 1 Jan. , 1 July. 1 Jan. „ 1 July. 1 June „ 1 Dec. 1 June „ 1 Dec. 1 June , 1 Dec. 6 Feb. , 6 Aug. 23 Mar. „ 23 Sept. 1 Jan. „ 1 July. * Loan may be paid off at any time after 1st February, 1909, on six months' notioe being given. Aid to Public Works and Land Settlement Act, J 1907 | 16,100 378,600 413,500 I 808,200 1 J Government Advances to Settlers Act 1894 Ex- ( tension Act, 1901 I Government Advances to Settlers Aot, 1906 80,000 300,000 450,000 100.000 50,000 | 380,000 [ 600,000 f Rate varying, calculated at 34 per cent. Government Advances to Workers Act, 1906 Dairy Industry Act, 1898 .. .. \ Local Bodies' Loans Act, 1901 .. .. -I 205,000 -• 438 S43 500 735,000 416,000 55,000 50,000 [ 1,781 ! 1,256,000 - 1,781 735,000 416,000 55,000 50,000 100,000 34 34 34 4 4 34 62 25,725 14,560 2,200 2,000 3,500 1 Feb. „ 1 Aug. 1 Mar. „ 1 Sept. 1 Mar. „ 1 Sept. 1 Mar. „ 1 Sept. 1 June „ 1 Dec. 1 April , 1 Oct. State Coal-mines Act, 1901 Paeroa-Waihi Railway Act, 1903 Hutt Railway and Road Improvement Acts, 1903 i and 1905 " I 53,476 26,738 100,000 50,000 100,000 I 80,214 I 150,000 ■• I - 80,214 3 34 2,406 5,250 31 Mar. „ 30 Sept. 1 May » 1 Nov. 150,000 State Fire Insurance Act, 1903 2,000 1 May, 1911 ( 1,500 { 500 34 4 52 • 20 1 May „ 1 Nov. 1 May „ 1 Nov. Carried forward 65,162,921 212,602 64,950,319 2,481,266 I
8.—6.
Table No. 3—continued. The PUBLIC DEBT of NEW ZEALAND on 31st March, 1908-continued.
31
Annual Charge. Amount outstanding. Due Date. Sinking Funds. Net Indebtedness. .-te. Remarks. When payable. Int. S.F. £ I £ i 65,162,921 30,000 212,602 £ 64,950,319 30,000 % % £ 2,481,266 1,050 Brought forward Scenery Preservation Act, 1903 .. " Railway Improvements. Authorisation Act, 1904 \ Maori Land Settlement Act, 1905 .. J Maori Land Settlement Act Amendment Aot, 1907 Waikaka Branch Railway Act, 1905 Reserve Fund Securities Act, 1907 .. .. 17,500 75,000 65,000 50,000 150,000 | 157,500 | 200,000 1 May, 1911 (30 June, 1910 ] 30 June, 1914 ( IJan., 1922 j Uan., 1911 ( 1 Jan., 1921 1 Jan., 1921 1 May, 1915 1 Aug., 1912 I ■• •• I ■; 92,500 65,000 34 4 4 3,700 2,600 1 May and 1 Nov. 30 June „ 31 Dec. 1 Jan. „ 1 July. 200,000 4 8,000 1 Jan. . 1 July. 50,000 53,476 800,000 66,453,897 ■■ 50,000 53,476 800,000 34 3 1,750 1,604 28,000 IJan. „ Uuly. 1 May . 1 Nov. 1 Feb. , 1 Aug. Add Sinking Fund in respect of— The Government Loans to Local Bodies Acts The Government Advances to Settlers Office Account The War and Defence Loans The Land for Settlements Loans Investments in Securities included above on account New Zealand Consols Investment Account Investment in Securities held under the Reserve Fund Securities Act, 1907 Bank of New Zealand Preference Shares held by Government 212,602 66,241,295 600,183 " 269,204 80,717 105,655 - 360,575 800,000 500,000 Totals .. .. .. I 66,453,897 | 2,716,334 I 2,928,936 63,524,961 I 2,527,970 Treasury bills amounting to £400,000 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, 1898, 1899, 1900, 1901, 1902, 1903, 1904, 1905. 1906, 1907, and 1908.
32
31st March, 1898. 31st March, 1899. 31st March, 1900. 31st March, 1901. 31st March, 1902. 31st March, 1903. 31st March, 1904. 31st March, 1905. 31st March, 1906. 31st March, 1907. 31st March, 1908. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. ; £ s. d. £ s. d. £ s. d. £ s. d. Revenue Account. Permanent Appropriations, — Civil List Interest and Sinking Fund Under Special Acts of the Legislature Subsidies payable to Local Authorities Under the Land Acts, payable to Local Authorities 950 0 0 214 8 0 991 15 0 731 14 11 505 0 0 930 1 4 793 6 6 881 7 0 622 14 5 15,000 0 0 36 3 4 588 12 11 1,284 3 9 951 4 11 859 10 4 372 14 8 460 7 6 " 895 6 1 287 8 8 849 11 8 332 0 8 2,541 18 6 631 5 0 160 17 11 867 12 6 136 18 0 313 1 0 126 0 0 174 0 0 760 0 0 1,045 0 0 1,824 17 2 1,824 0 6 1,757 0 1 1,757 0 1 3,328 19 5 1,757 0 1 1,757 0 1 1,757 0 1 1,757 0 1 1,757 0 1 3,112 13 8 1,757 0 1 1,757 0 1 3,803 16 9 3,940 10 0 3,654 0 5 5,675 19 3 Annual Appropriations,— Legislative Department of Minister of Finance* .. ■ Postmaster-General Industries, Commerce, and Tourist Departments Working Railways Public Buildings Maintenance of Roads Printing and Stationery Office Commissioner of Stamps Minister of Justice! Minister of Defence! Minister of Mines Department of Internal Affairs Commissioner of Customs Minister of Marine Minister of Labour Minister of Lands Minister for Agriculture Valuation Department Minister of Education Public Health Department Mental Hospitals and Hospitals and Charitable Departments 3,620 10 2 [ 1,984 18 5 4,348 2 6 3,744 14 7 17,541 17 10 87 4 11 45 5 10 33 19 4 51 1 2 : 85 11 8 91 10 2 85 16 2 76 1 5 7 12 6 184 3 9 64 1 9 812 6 11 22,689 3 2 785 18 4 17,830 0 0 908 7 9 21,247 0 0 2,933 0 4 28,276 0 0 365 9 5 34,029 0 0 440 9 9 32,902 0 0 491 12 3 28,750 0 0 553 1 0 28,481 0 0 1,142 3 11 34,910 0 0 1,280 11 1 36,725 0 0 62 14 2 43,550 0 0 74,818 16 6 2,556 5 4 66,169 16 11 74,911 6 6 185 0 0 90,777 9.3 81 0 0 95,972 4 10 312 16 6 109,375' 4 0 470 5 7 11,170 17 8 109,146 17 3 1,294 0 5 1,206 11 11 108,054 11 6 724 11 5 1,614 17 2 103,381 3 5 723 15 11 5,342 12 5 119,289 0 0 850 14 3 1,746 8 1 3,438 0 4 2,194 9 8 5,742 5 0 3.950 6 4 2,976 16 6 156,471 0 0 848 18 10 1,297 17 5 3,818 7 0 1,301 4 1 2,673 9 3 4,368 1 7 346 1 0 3,605 0 0 7,580 0 0 149 19 7 3,083 0 0 6,218 8 4 745 3 11 3,789 12 2 4,500 0 0 56 2 8 2,247 17 3 4,564 12 3 ■• 529 16 8 2,397 14 3 9,925 0 0 42 9 0 6,583 4 6 4,646 10 9 .. 506 14 2 2,542 4 7 44,050 0 0 6 0 11 12,893 9 7 5,750 17 1 1,054 9 7 2,155 10 5 21,856 8 9 2,033 16 0 10,604 5 11 3,662 1 1 473 15 7 1,901 0 7 10,740 12 3 1,591 14 6 925 4 11 2,516 11 8 6,816 5 1 37 0 0 866 4 11 533 16 0 1,558 15 3 130 12 8 2,498 14 5 5,392 0 1 1,117 18 2 15 0 406 12 10 1,274 6 4 1,456 4 5 1,944 7 11 12,854 8 4 2,417 15 10 1,061 0 5 1,778 13 11 11,009 13 7 15,008 10 10 2,521 16 10 •• 10,175 11 4 2,633 18 10 460 0 0 651 17 4 4,908 10 5 4,335 1 5 600 0 0 1,970 19 7 112 19 6 9,587 1 9 3,202 6 2 980 0 0 1,724 2 11 390 14 2 2,131 2 4 3,673 5 6 836 17 11 1,411 10 7 6,991 15 7 2,990 19 6 629 15 4 I 6,029 1 10 8,390 2 0 811 19 2 724 11 8 2,070 7 1 198 2 2 1,571 15 8 292 10 2 5,250 14 2 8,794 0 0 856 14 11 j 3,794 16 9 203 15 0 1,662 13 1 351 3 9 1,710 1 5 4,419 1 4 675 8 1 3 0 11 449 14 10 3,655 18 1 370 17 8 4,293 5 4 485 2 0 4,561 5 9 5,210 0 0 794 10 4 2,638 3 0 479 18 7 2,314 0 8 170 9 3 2,730 0 8 1,185 7 10 18,811 17 4 4,190 0 0 786 15 5 327 4 10 449 5 2 I 418 0 0 1,575 4 8 ! ! 378 3 0 156 2 6 378 9 6 1,224 3 7 1,715 10 6 250,113 2 3 133,225 0 2 203,474 7 5 180,575 4 8 182,963 3 0 175,710 2 3 I ! :177,390 15 7 171,695 1 4 204,456 15 3 783 19 3 Services not provided for 139,894 13 5 114,655 16 10 ! •• 3 7 6 25 0 0 -■ 21 9 0 6 11 10 Totals jl43,515 3 7 137,576 10 2 206,828 6 10 jl84,319 19 3 200,505 0 10 179,513 19 0 il81,331 5 7 255,795 13 4 !ll6,640 15 3 1174,829 4 0 208,894 14 11 * Includes Rates on Crown Lands and Old-age Pensions. t Includes Nativ ® and Crown Law. t Includes Police.
33
B.-6
Table No. 5. STATEMENT of the Estimated Liabilities chargeable on the Public Works Fund outstanding on the 31st March, 1898, 1899, 1900, 1901, 1902, 1903, 1904, 1905 1906 1907, and 1908.
STATEMENT of the Estimated Liabilities chargeable on the undermentioned Accounts outstanding on the 31st March, 1898, 1899, 1900, 1901 1902 1903 1904 1905 1906 1907, and 1908.
5—B. 6
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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, 1908.
34
WAYS AND MEANS. NET EXPENDITURE. Loans: — Immigration and Public Works Loan, 1870 Immigration and Public Works Loan, 1873 Immigration and Public Works Loan, 1874 General Purposes Loan Act, 1873 New Zealand Loan Act, 1876 New Zealand Loan Act, 1877 New Zealand Loan Act, 1879 New Zealand Loan Act, 1882 New Zealand Colonial Inscribed Stock Loan Act, 1882 North Island Main Trunk Railway Loan Act, 1882 .. New Zealand Loan Act, 1884 New Zealand Loan Act, 1886 District Railways Purchasing Acts, 1885 and 1886 .. 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 Act, 1896 Aid to Public Works and Land Settlement Amendment Act, 1897 Aid to Public Works and Land Settlement Amendment Act, 1898 Aid to Public Works and Land Settlement Act, 1899 Aid to Public Works and Land Settlement Aot, 1900 Aid to Public Works and Land Settlement Act, 1901 Aid to Public Works and Land Settlement Act, 1902 Aid to Public Works and Land Settlement Act, 1903 Aid to Public Works and Land Settlement Act, 1904 Aid to Public Works and Land Settlement Act, 1905 Aid to Public Works and Land Settlement Act, 1906 Aid to Public Works and Land Settlement Act, 1907 Midland Railway Petitions Settlement Acts, 1902-3.. Paeroa-Waihi Railway Act, 1903 .. £ 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 0 500,000 0 0 1,000,000 0 0 £ s. d. Expenditure on — £ s. d. Immigration .. .. .. .. .. 2,186,711 17 2 Publio Works, Departmental .. .. .. 568,385 7 6 Railways, including Surveys of New Lines .. 24,176,384 6 3 Roads* .. .. .. .. .. 7,861,467 17 5 Land Purchases .. .. .. .. 2,035,748 5 9 Development of Goldfields .. .. .. 786,656 9 3 Telegraph Extension .. .. .. .. 1,479,736 3 6 Public Buildings .. .. .. .. 3,804,597 3 0 Lighthouses, Harbour Works and Defences .. 1,024,519 10 9 Contingent Defence .. .. .. .. 888,168 8 6 Rates on Native Lands.. .. .. .. 68,644 15 10 Thermal Springs .. .. ' .. .. 14,599 13 2 Tourist and Health Resorts .. .. ..' 158,567 10 9 Lands Improvement .. .. .. .. 24,575 0 1 Charges and Expenses of raising Loans .. .. 1,235,641 9 11 Coal-mines .. .. .. .. .. 10,835 8 0 Interest and Sinking Fund .. .. .. 218,500 0 0 Payment to Midland Railway Bondholders .. 150,000 0 0 Utilisation of Water-power .. .. .. 8,347 18 11 ,702,087 5 9 £ s. d. 250,000 0 0 500,000 0 0 1,000,000 0 0 1,005,500 0 0 1,250,000 0 0 1,750,000 0 0 1,000,000 0 0 750,000 0 0 1,000,000 0 0 1,000,000 0 0 808,200 0 0 150,000 0 0 75,000 0 0 I " 39,442,887 7 11 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 6,430,000 0 0 56,000 0 0 264,657 16 4 19,963 1 3 ! i ■ 4,963 7 4 60,616 3 0 ■ 38,904 2 9 . 2,257 1 9 | ' 27,581 5 0 506,819 19 3 Balance on 31st March, 1908, — Cash in the Public Account .. ..' .. 124,769 0 0 Advances in the hands of Officers of the Government 27,793 18 10 J 7,411,762 16 8 £46,854,650 4 7 152,562 18 10 £46,854,650 4 7 * Has be< reduced b; received under section 31 if ' The Goveri tment Loans to Local Bodies Act, If
8.—6.
Table No.7. Estimated Expenditure of the Consolidated Fund (Revenue Account) for 1908-9, compared with Actual Expenditure of 1907-8.
Table No.8. Estimated Revenue of the Consolidated Fund (Revenue Account) for 1908-9, compared with the Actual Revenue of 1907-8.
35
'erences. Estimate for 1908-9. Actual for 1907-8. Increase. Decrease. Revenue Account. £ 34,900 2,265,448 909,995 £ 35,691 2,187,419 905,512 £ £ Civil List Interest and Sinking Fund Under special Acts 78,029 4,483 791 791 3,210,343 3,128,622 82,512 Annual Appropriations,— Legislative Departments Department of Minister of Finance Postal and Telegraph Department Industries and Commerce and Tourist Departments Old-age Pensions Department Working Railways Department Public Buildings and Domains Maintenance of Roads Printing and Stationery Department Stamp and Deeds Departments Native Department Justice Department Police Department Mines Department Department of Internal Affairs.. Crown Law Department Defence Department Customs Department Marine and Inspection of Machinery Departments Labour Department Lands and Survey Department Agriculture Department Valuation Department Education Department Public Health Department Mental Hospitals and Hospitals and Charitable Departments 30,074 57,588 796,638 71,289 7,772 2,020,000 52,637 25,000 46,270 38,391 28,222 148,957 173,499 38,650 120,061 4,578 214,470 52,148 82,680 27,162 232,744 149,033 34,501 856,842 38,910 104,534 29,789 56,832 707,136 54,537 5,766 1,963,228 47,476 19,208 46,261 37,963 24,656 149,241 157,857 34,470 114,800 4,340 176,426 49,512 76,629 29,048 172,826 136,041 33,096 821,424 33,253 99,395 285 756 89,502 16,752 2,006 56,772 5,161 5,792 9 428 3,566 15,642 4,180 5,261 238 38,044 2,636 6,051 284 1,886 59,918 12,992 1,405 35,418 5,657 5,139 - 5,452,650 5,081,210 373,610 2,170 Services not provided for 4,133 4,133 8,662,993 8,213,965 456,122 7,094 7,094 Total 449,028
Diffe: •ences. Estimate for 1908-9. Actual for 1907-8. Increase. Decrease. Revenue Account. £ 2,950,000 2,835,000 1,573,000 570,000 310,000 117,000 115,000 40,000 239,000 236,000 £ 3,103,565 2,765,395 1,550,934 537,846 304,905 113,973 129,166 42,217' 218,342 289,603 £ £ 153,565 Customs Railways Stamps Land-tax Income-tax Beer Duty Registration and other Fees ... Marine Miscellaneous Territorial Revenue 69,605 22,066 32,154 5,095 3,027 14,166 2,217 20,658 53,603 9,055,946 152,605 223,551 152,605 Total 70,946 8,985,000
8.—6.
Table No.9. Statement showing the Amount charged to "Unauthorised" in each Financial Year from 1st July, 1875, to 31st March, 1908.
Table No. 10. Statistics for 1887, 1897, and 1907. Population (exclusive of Maoris and annexed Pacific Islands) : — 1887 ... ... 603,361 Per Cent. As compared with 1897 ... ... 729,056 ... Increase 20-83 1887 1907 ... ... 929,484 ... „ 27-49 1897 Imports and Exports : — £ 1887 ... ... 13,111,684 1897 ... ... 18,072,216 . Increase 37-83 1887 1907 ... ... 37,371,818 ... „ 167-92 1897 Imports, Total Value : — 1887 ... ... 6,245,515 1897 . . ... 8,055,223 ... Increase 28-98 1887 1907 ... ... 17,302,861 ... „ 114-80 1897 Exports, Total Value : — 1887 ... ... 6,866,169 1897 ... ... 10,016,993 ... Increase 45-89 1887 1907 ... ... 20,068,957 ... „ 100-35 1897
Table No.11. Value of some of the Principal Exports.
36
Financial Year. Consolidated Fund.—Revenue Account. Other Accounts. i Public Works Fund. Total. S6r yided n ior Pr °" ExceBS oi Votes - 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 .. 1902-1903.. 1903-1904 .. 1904-1905 .. 1905-1906 .. 1906-1907 .. 1907-1908 .. £ s. d. .. | 13,167 4 8 .. j 18,397 17 1 .. ! 19,079 12 6 .. j 11,413 16 1 .. I 5,818 9 9 .. ! 6,151 13 9 .. ; 3,899 16 3 .. I 4,473 15 8 .. j 7,293 9 9 .. ' 5,981 17 8 .. ' 9,337 11 2 .. I 14,337 19 7 .. I 7,303 17 10 .. I 3,521 18 2 .. I 4,412 5 3 .. ! 10,610 1 0 .. I 2,288 3 2 1,741 7 10 2,350 7 0 8,985 3 7 .. 22,422 16 10 3,188 17 7 2,258 19 7 3,305 15 11 .. 11,187 13 8 .. 26,367 18 6 3,836 7 0 9,027 5 4 3,344 11 0 6,215 4 8 8,576 16 7 .. ! 4,989 9 1 .. j 4,133 3 3 £ s. d. 19,195 17 1 13,398 7 0 58,709 17 2 47,466 4 5 18,466 2 1 37,825 6 6 38,474 18 9 64,631 0 2 45,284 2 6 39,039 17 11 47,106 10 3 38,117 13 5 42,104 15 10 35,157 16 5 43,257 1 0 76,778 5 11 21,026 16 4 28,283 15 11 7,376 7 4 9,148 0 5 16,229 5 9 24,195 2 9 39,314 13 4 36,468 0 10 60,652 13 7 62,788 3 2 68,866 10 9 101,076 10 4 47,775 11 4 22,109 12 2 52,385 3 7 28,559 6 2 37,713 8 11 £ 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 9 110,103 15 8 51,120 2 4 28,324 16 10 60,962 0 2 33,548 15 3 41,846 12 2 £ s. d. 3,155 9 2 3,490 6 1 653 6 5 3,938 14 8 1,005 3 10 13,443 11 3 13,590 6 10 12,343 2 2 9,003 18 7 7,163 15 3 13,965 10 1 6,212 16 7 27,821 16 11 13,506 2 8 23,631 7 1 5,459 18 11 9,183 10 6 4,754 17 10 522 12 2 1,890 7 5 16,995 9 9 24,726 3 6 4,743 17 10 2,304 8 10 £ s. d. 63,875 11 8 2,197 4 5 22,009 14 0 32,179 1 1 17,096 9 9 34,133 17 3 2,217 9 8 8,137 17 11 31,741 17 10 872 0 11 6,465 17 5 28,633 10 8 30,407 2 3 18,633 2 10 12,287 18 10 7,097 19 9 7,594 1 2 11,149 14 2 1,335 12 11 330 8 1 33,245 2 4 7,051 0 8 53,648 14 0 8,222 10 6 7,990 18 7 17,518 3 7 6,955 4 10 12,837 3 6 9,584 9 11 31,862 8 3 19,965 16 2 55,556 14 10 80,170 3 3 £ 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 99,966 4 9 50,300 16 1 79,831 5 10 107,336 12 10 79,911 11 5 123,140 19 2 62,952 18 9 73,734 16 8 104,884 6 2 101,973 0 9 122,446 4 5 662 7 7 253 8 10 200 0 0 2,248 6 6 13,547 11 7 23,956 9 10 12,867 10 8 429 9 0
Article. 1887. 1897. 1907. Wool .... Frozen meat Butter ... Cheese ... Timber ... Flax, New Zealand Gold ... Gum, Kauri- £ 3,321,074 455,870 54,921 54,562 128,729 25,094 747,878 362,434 £ 4,443,144 1,566,286 402,605 150,517 154,169 30,674 980,204 398,010 £ 7,657,278 3,420,664 1,615,345 662,355 311,862 832,068 2,027,490 579,888
37
B.—6
Table No. 12. Trade Exchange between New Zealand and other Countries.
Table No. 13. Development of Shipping trading to and prom Places beyond New Zealand. Inwabds. Outwabds. Vessels. Tonnage. Vessels. Tonnage. 1887 ... 653 489,754 ... 675 493,583 1897 .. 600 686,899 ... 587 675,333 1907 ... 645 1,254,266 ... 615 1,225,382 Totals Inwabds and Outwabds. Vessels. Tonnage. 1887 ... 1,328 980,337 1897 ... 1,187 1,362,232 38-53 per cent, increase as compared with 1887. 1907 ... 1,260 2,479,648 82-03 „ . „ 1897. Development of Coasting Trade. Inwabds. Outwabds. Vessels. Tonnage. Vessels. Tonnage. 1887 ... 17,531 3,636,181 ... 17,218 3,640,361 1897 ... 20,268 5,463,273 ... 20,078 5,446,149 1907 .... 25,273 11,241,607 ... 25,097 11,169,029 16-11 per cent, increase in number of vessels oomparing years 1887 and 1897. 24-85 „ „ „ „ 1897 and 1907. 49-93 per cent, inorease in tonnage of vessels comparing years 1887 and 1897. 105-42 „ „ 1897 and 1907.
Table No. 14. Registered Vessels belonging to New Zealand.
Increase'or Inorease 1887. 1897. Decrease as com- 1907. as compared pared with 1887. with 1897. Imports. Imports from Jnited Kingdom Australia South Africa ... India and Mauritius European countries Jnited States of America Dther places ... £ £ Per Cent. £ Per Cent. 4,173,497 5,392,738 Increase 29-21 10,278,019 Increase 90-59 1,030,094 1,001,003 Decrease 2-82 3,127,553 „ 212-44 10,088 i 87 „ 99-14 1,073 205,183 215,041 Increase 4-80 384,118 „ 78-63 99,476 252,313 „ 153-64 719,366 „ 185-11 298,736 628,044 ., 110-23 1,425,596 „ 126-99 428,441 565,997 „ 32-11 1,367,136 „ 141-54 Totals... 6,245,515 8,055,223 Increase 28-98 17,302,861 Increase 114-80 i ' i Exports to United Kingdom Australia South Africa ... European countries United States of America Other places ... Exports. 4,847,413 8,168,123 Increase 68-50 16,533,493 1,457,782 1,323,784 Decrease i 9-19 2,221,260 6,795 Increase EP... 63,727 2,895 6,894 „ 138-13 120,424 409,480 375,096 Decrease 8-40 714,063 148,599 ! 136,301 „ 8-28 415,990 Increase 102-41 67-80 90-37 205-20 Totals... 6,866,169 10,016,993 Increase 45-89 20,068,957 Increase 45-89 20,068,957 Increase 100-35 Increase 100-35
1887 1897 1907 Vessels. 557 506 628 Tonnage. 94,027 119,713 197,001 Average Tonnage, 169 . 237 314 3—B. 6.
B.—6
38
Table No. 15. Increases for Two Decennial Periods, 1887-1897 and 1897-1907.
looi— ioy/. ±ovi —±uui. Population (excluding Maoris and residents of Cook and other Pacific islands) ... ... ... 125,695 No. 200,428 No. Occupied holdings ... ... ... ... 26,016 „ 12,608 „ Land in cultivation (including sown grasses) ... 4,159,811 acres 3,770,925 acres Horses ... ' ... ... ... .. 65,452 No. 99,998 No. Cattle ... ... ... ... ... 355,807 „ 607,134 „ Sheep ... ... ... ... ... 4,452,393 „ 1,295,464 „ Postal: Money-orders issued ... ... ... £415,087 £802,760 Telegraph revenue (including telephones) ... £20,010 Railways (Government) open for traffic ... ... 302 miles 419 miles „ " receipts ... ... ... £381,165 £1,385,930 ■ Shipping—Vessels (inwards) ... ... ... 197,145 tons 567,367 tons. „ ' „ (outwards) .'.. ... ... 181,750 „ 550,049 „ Export of — Wool ... ... ... ... ... £1,122,070 £3,214,134 Frozen meat ... ... ... ... £1,110,416 £1,854,378 Butter ... ... ... .. ... £347,684 £1,212,740 Cheese ... ... ... ... ... £95,955 £511,838 Phormium fibre ... ... ... ... £5,580 £801,394 Gold ... ... ... ... ... £232,326 £1,047,286 Provisions, tallow, timber, &c. ... ... £131,155 £1,545,101 Exports, New Zealand produce ... ... £3,045,186 £10,186,871 Imports ... ... ... ... ... £1,809,708 £9,247,638 Output of coal ... ... ... ... 282,093 tons 990,296 tons. Banks : Deposits (average of four quarters) ... £3,258,898 £9,226,599 Savings-banks Deposits ... ... ... £3,112,304 £7,304,983 By Authority : John Mackay, Government Printer, Wellington.—1908.
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Bibliographic details
FINANCIAL STATEMENT (In Committee of Supply, 7th July, 1908) BY THE MINISTER OF FINANCE, THE RIGHT HON. SIR J. G. WARD, P. C., K.C.M.G., Appendix to the Journals of the House of Representatives, 1908 Session I, B-06
Word Count
29,265FINANCIAL STATEMENT (In Committee of Supply, 7th July, 1908) BY THE MINISTER OF FINANCE, THE RIGHT HON. SIR J. G. WARD, P. C., K.C.M.G. Appendix to the Journals of the House of Representatives, 1908 Session I, B-06
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