8.—6
CONTENTS. PAOK INTRODUCTION .. .. .. .... .. .. j REVENUE .. .. .. .. .. .. .. .. j COMPARED WITH 1908-9 ...... .. a EXPENDITURE .......... ;i COMPARISON OF EXPENDITURE 1909-10 AND 1910-11 .. .. .. iii ANALYSIS OF INCREASE IN EXPENDITURE. 1910-11, AS COMPARED WITH PREVIOUS YEAR iv RESULTS OF THE YEAR'S OPERATIONS .. .. .. .. iv TREASURY BILLS .......... v PUBLIC WORKS FUND .. .. v TRANSFERS FROM REVENUE .. .. .. .. .. .. . v OUR PUBLIC DEBT .. .. .. .. .. .. .. .. . ANALYSIS OF THE DEBT .. .. .. .. .. .. .. vii WEALTH AND ASSETS OF THE DOMINION AND ITS PEOPLE .. .. .. x ; PRICE OF NEW ZEALAND STOCK .. .. .. .. .. .. .. rii PUBLIC DEBT EXTINCTION ACT .. .. .. .. .. .. .. . xii THE FIVE-MILLION LOAN .. .. .. .. .. .. .. .. .. xiii RAILWAY-CONSTRUCTION .. .. .. .. .. .. .. .. .. XT ROADS .. .. .. .. .. .. .. .. .. .. .. n, IRRIGATION x^ MINING .. .. xvi AGRICULTURE .. .. .. .. .. .. .. .. .. .. WATER-POWER .. .. .. .. .. .. .. .. .. .. xvii NATIONAL PROVIDENT FUND .. . . . . Xviii PUBLIC SERVICE CLASSIFICATION . .. .. .. .. .. xix PUBLIC TRUST OFFICE AUDIT .. .. .. xix PUBLIC SERVICE SUPERANNUATION FUND .. .. .. .. .. .. .. xj x POST AND TELEGRAPH DEPARTMENT'S OPERATIONS .. .. .. .. xx LAND AND INCOME TAX .. .. .. .. .. .. xx INCOME-TAX .. . . .. .. .. .. .. xx LAND-TAX .. .. .. .. .. .. .. .. .. .. xxi LAND AND INCOME TAX .. .. .. .. .. .. .. xxi LAND SETTLEMENT FINANCE ACT . . .. .. .. . . . . . . xx i LAND FOR SETTLEMENTS ACT . . .. .. .. . . .. . xxi NATIVE-LAND SETTLEMENT .. .. .. .. .. .. xxi MAORI LAND BOARDS .. .. .. .. .. .. .. xxi NATIVE LAND PURCHASE BOARD .. .. .. .. . .. xxii FEES Xlii DEFENCE .. .. .. .. .. .. .. ~ .. .. ixii THE NEW ZEALAND DREADNOUGHT .. .. .. .. .. ~ xxiii VOLUNTEERS .. .. Ixiii STATE-GUARANTEED ADVANCES DEPARTMENT .. .. .. . . . . xxiil ADVANCES TO SETTLERS .. .. .. .. .. .. .. . xxiii ADVANCES TO WORKERS .. .. .. .. .. .. .. xxii j WORKERS' DWELLINGS ACT .. .. .. .. .. .. xxiij ADVANCES TO LOCAL AUTHORITIES .. .. .. .. .. xxlii OUR TAXATION NOT HEAVY .. „ .. .. .. .. .. xxlv INHERITANCE-TAX .. .. .*. .. .. .. xxvji COST OF LIVING .. .. xxvii REMISSIONS .. .. .. .. .. .. .. .. .. .. . xxvij INSURANCE AGAINST UNEMPLOYMENT .. .. .. .. xxviii ENLARGEMENT OF SCOPE OF OLD-AGE PENSIONS .. .. .. .. .. xxviii ASSISTANCE TO WIDOWS xxviii OIL AND IRON WORKS .. .. .. .. .. .. .. xxviii FINANCE FOR WORKERS .. xxix FARMERS' CO-OPERATIVE BANKS .. .. .. .. xxix FINANCIAL ASSISTANCE TO FARMERS .. .. .. .. .. .. .. xxix STATE NOTE-ISSUE .. .. .. .. .. .. .. .. .. IXX REDUCTIONS AND INCREASES .. .. .. .. .. .. .. xxx REMISSIONS OF TAXATION AND CONCESSIONS IN CHARGES .. .. .. .. xxxi LAND-SUBDIVISION AND TAXATION OF LARGE ESTATES .. .. .. .. xxxi TRADE OF THE DOMINION xxlii FUTURE BORROWING xxxii FINANCE FOR 1911 I J .. .. .. .. xxxiii EXPENDITURE xxxiii REVENUE .. .. .. .. .. .. .. .. .. .. xxxi ii LOAN FOB PUBLIC-WOBKS PURPOSES .. .. .. .. .. .. .. xxxiv SUMMARY.. .. .. .. .. .. .. .. .. .. .. xxxiv CONCLUSION .. .. .. .. .. .. .. .. .. .. .. xix jv
8.—6
ERRATA. Page ix. Column " Percentage of Whole," for "58 per cent." read " 59-1 " ; for " 11 per cent." read " 9-4 "; and for "31 per cent." read " 313." Page x. In paragraph beginning " Taking the difference in population," sixth line, for " 12-8 per cent." read " 284 per cent." Page xxv. In penultimate paragraph, fifth line, for " £29 11s. Bd.—that is, lid.," read " £23 6s Bd.—that is, Bd." Page xxviii. In eighth line from bottom read " or " instead of " for " where it occurs first in the line. Note. —These corrections have been made since the Budget was delivered. J. W. POYNTON, Secretary to Treasury.
8.—6
1911. NEW ZEALAND.
FINANCIAL STATEMENT (In Committee of Supply, 8th September, 1911) BY THE MINISTER OF FINANCE, THE RT. HON. SIR J. G. WARD, BART., P.C., K.C.M.G.
Mr. ColviN, — I have the pleasure to submit to the Committee the budget of the year's finances as on the 31st March last. I shall also deal with matters affecting the current year's operations, and, as on former occasions, it will be my duty to submit subjects for consideration affecting the future that I feel sure will be recognized as of considerable importance to the Dominion. The abstract of the accounts showing the receipts and expenditure of the financial year will be found in the tables attached to the Statement. Last year I had the pleasure of announcing that a substantial balance of £432,31(5 was available at the end of the year. It is with much satisfaction that I state that the present year's results have exceeded that of any previous year in the history of the Dominion. EEVENUE. I proceed to give details of the revenue of the year just closed, which, I am pleased to say, was a record one, amounting to £10,297,023. The increase from Railways amounted to £225,492; from Customs, £356,708 ; stamps, £289,328. The total increase of revenue from Railways and Customs amounted to £582,200, and was due to the activity of trade in all its branches. The large increase in stamp revenue, bofch of the Stamp Department and the Postal Department, is due partly to the prosperous condition of the country, and to the alteration in stamp duties affecting deceased e-tates, of which a larger number than usual have been dealt with. The increase from stamp duties under all headings amounted to £289,328; so that the increase from the three Departments, Railways, Customs, and Stamps, was £871,528. As there has on former occasions been a desire expressed that more details should be given regarding our revenue and
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II
expenditure, I propose to set them out more fully than heretofore. Details are shown in table below : —
Compared with 1908-9. Revenue, 1908-9.. .. .. .. .. 9,001,185 Revenue, 1910-11 .. .. .. .. 10,297,023 Increase .. .. .. .. £1,295,838 EXPENDITURE. The estimated expenditure for the year was set down as £9,472,278, to which should be added an additional appropriation for railways, £233,755, making a total of £9,706,033. Of this amount £9,343,106 was spent, a saving of being effected. The permanent appropriations show a saving of £29,260, and the departmental expenditure is £333,667 less than the amount authorized, but of this amount Railways are credited with £192,496, being the balance unspent after the excess of revenue as allowed by law was added to the appropriation, so that if we eliminate Railways we have a direct saving for the year of £141,171 on our departmental votes. With the exception of the Legislative class, it will be seen by reference to the tables attached that every other class has been kept within the amounts voted by Parliament. Amount estimated:— £ £ Permanent charges .. .. .. 3,672,110 Annual appropriations .. .. .. 5,800,168 Additional appropriations for railways .. 233,755 9,706,033 Amount expended,— Permanent charges .. .. .. 3,642,850 Annual appropriations .. .. .. 5,700,256 9,343,106 Saving on appropriations .. .. £362,927
1910-11. 1909-10. Increase. i Decrease. I >nsolidated Fund— Ordinary revenue— Customs Stamps (Stamps Department) Stamps (Postal Department) Post and Telegraph cash receipt* Land-tax Income-tax Beer duty Railways Registration and other fees .. Marine Miscellaneous Territorial revenue Endowment revenue £ 3,027,829 819,839 816.306 211,261 628,723 407,235 118,100 3,483,755 100,026 45,933 327,123 255,032 55,861 £ 2,671,121 : J 1,346,817 190,535 642,270 316,835 i 115,369 i 3,258,263 ! 88,305 I 42,918 j 296,099 ! 202,587 : 67,142 £ £ 356,708 289,328 20,726 13,547 90,400 2,731 j .. 225,492 ! .. 11,721 3,015 I .. 31,024 52,445 I .. 11,281 1,083,590 24,828 24,828 Totals .. 10,297,023 9,238,261 1,058,762
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III
Comparison of Expenditure, 1909-10 and 1910-11.
1910-11. £ £ Permanent charges .. .. .. 3,642,850 Annual appropriations .. .. .. 5,700,256 9,343,106 1909-10. Permanent charges .. .. .. 3,514,409 Annual appropriations .. :. .. 5,476,513 8,990,922 Increased expenditure .. .. .. £352,184 As under— £ Increase, permanent charges .. . . . . 128,441 Increase, annual appropriations . . . . . . 223,743 Total .. .. .. .-. •• £352,184
Expenditure. Differe; ice. Year 1910-11. Year 1909-10. More. Lest. i Permanent appropriations — £ £ Civil List .. .. .. .. .. 34,373 33,730 Interest and sinking fund .. .. .. 2,458,452 2,397,461 Under special Acts .. .. .. .. 482,119, 452,491 Subsidies paid to local authorities .. .. ■ 108,017 94,208 Territorial revenue .. .. .. .. 40,397 36,400 Endowments .. .. .. .. 153,459 158,066 Old-age pensions .. .. .. ... 366,033 342,053 £ 643 60,991 29,628 13,809 3,997 £ 4,607 23,980 3.642.850 ! 3.514.409 3,642,850 3,514,409 133,048 4,60' Annual appropriations— Legislative Departments .. .. .. 37,611 28,634 Department of Finance .. .. .. I 48,023 36,773 Post and Telegraph Department .. .. 911,819 855,862 Working Railways Department.. .. .. 2,270,814 2,168,189; Public Buildings, Domains, and Maintenance of 81,103 86,729 Roads Native Department .. .. .. .. 21,661 18,874 | Justice Department .. .. .. .. 370,182 | 365,920 ! Mines Department .. .. .. .. 22,457 24,704 Department of Internal Affairs .. .. 262,142 | 256,466 Defence Department .. .. .. .. 212,939 194,050 Customs, Marine, and Inspection of Machinery De- 114,737 122,782 partments Department of Labour .. .. .. 22,725 24,212 Department of Lands and Survey .. .. 206,660 233,743 Department of Agriculture, Commerce, and Tourists 184,579 i 189,914 I Education Department .. .. .. 924,777 J 859,243 j Services not provided for .. .. .. 8,027 j 10,418 5,700,256 5,476,513 8,977 11,250 55,957 102,625 2,787 4,262 5,676 18,889 5,626 2,247 8,045 1,487 27,083 5,335 65,534 2,391 5,700,256 5,476,513 275,957 52,214 Totals .. .. .. .. 9,343,106 ' 8,990,922 409,005 56,821 56,821 9,343,106 8,990,922 352,184
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IV
Analysis of Increase in Expenditure, 1910-11, as compared with previous Year. £ 1910-11 .. .. .. .. .. 9,343,106 1909-10 .. .. .. .. .. 8,990,922 Increase .. .. .. .. £352,184 Accounted for as follows :— £ Interest and sinking fund .. .. 61,000 Under special Acts .. .. .. 2,000 Payments to local bodies .. .. .. 14,000 Old-age pensions .. .. .. 24,000 Public service superannuation .. .. 28,000 129,000 Legislative .. .. .. .. 9,000 Department of Minister of Finance .. 11,000 Postal Department .. .. .. 56,000 Working Railways .. .. .. 102,000 Native Department .. .. .. 3,000 Minister of Justice .. .. .. 4,000 Department of Internal Affairs .. .. 6,000 Defence Department .. .. .. 19,000 Education Department .. .. .. 65,000 275,000 404,000 Savings on— Department of Lands and Survey .. .. 27,000 Customs, Marine, and Inspection of Machinery 8,000 Minister of Public Works .. .. .. 6,000 Minister of Agriculture .. .. .. 5,000 Miscellaneous .. .. .. .. 6,000 52,000 £352,000 Results op the Year's Operations. £ Balance brought forward, Ist April, 1910 .. .. 432,316 Receipts duringjyear,— £ Revenue • .. .. 10,297,023 Other receipts .. .. 250 10,297,273 Expenditure during year,— Appropriations .. .. .. .. 9,343,106 Excess of receipts over expenditure .. .. 954,167 The credit balance, including £432,316, the amount carried forward at the beginning of |the financial year, amounts to'a surplus on the 31st March last of .. 1,386,483 From this I transferred to Public Works Fund .. 800,000 Leaving a balance on 31st March, 1911, to^begin the present financial year of .. .. .. £586,483 In the Budget of last year I estimated the surplus at £727,421, less amount required for supplementary is pleasant to announce that this estimate has been exceeded by so much. "The excess is, as I have already said, due largely to the widespread revival of trade both in and out of the Dominion.
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TREASURY BILLS. As will be seen, there were none outstanding on the 31st March last. These from time to time will have to be again resorted to, of course, in anticipation of revenue, for which the law rightly provides; but it must be satisfactory for honourable members to note that, as promised by me, the large amount for several years appearing under this head, and which had practically become part of our permanent debt, has disappeared. The position for eighteen years is shown by this table :— £ £ 1893-94 .. 811,000 1902-3 .. 700,000 1894-95 .. 810,000 1903-4 .. 700,000 1895-96 .. 735,000 1904-5 .. 700,000 1896-97 .. 730,000 1905-6 .. 700,000 1897-98 .. 730,000 1906-7 . . 550,000 1898-99 .. 710,000 1907-8 .. 400,000 1899-1900 .. 700,000 1908-9 .. 250,000 1900-1 .. 700,000 1909-10 .. 100,000 1901-2 .. 700,000 1910-11 .. Nil. As the whole of the £700,000 has been paid of! out of ordinary revenue since my Government took office in 1906, I think I may reasonably take credit for a satisfactory clearance of what had come to be regarded as part of our permanent debt. PUBLIC WORKS FUND. A community like ours, which is developing its heritage by the expenditure of public moneys, must look with interest on the condition of the fund available for construction of public works. The balance from last year was £312,366. During 1910-11 it received, as loan-moneys, £1,984,742 ; transfer from revenue, £800,000; other receipts, £6,506 : total, £3,103,614. The expenditure was— £ £ Under appropriations .. .. 1,892,851 Other charges .. .. .. 70,718 1,963,569 Balance at 31st March, 1911 .. .. 1,140,045 Balance loan-money to be received .. 181,650 Available public-works moneys to start the current year with .. .. .. .. £1,321,695 The balance to 31st March is made up as follows : — Cash in Public Account .. .. .. .. 381,259 Advances in hands of officers of Government .. 8,786 Invested at fixed deposit with Bank of New Zealand, London .. .. .. .. .. 750,000 £1,140,045 Transfers from Revenue. The total amount transferred from revenue to Public Works Fund s nee 1891 amounts to the large sum of £8,030,000. I give the actual amount for each year during that period:— Year. Amount. Amount. 1891-92 .. 30,000 1901-2 .. 500,000 1892-93 .. 200,000 1902-3 .. 200,000 1893-94 .. 250,000 1903-4 .. 350,000 1894-95 .. 250,000 .1904-5 .. 600,000 1895-96 .. 150,000 1905-6 .. 500,000 1896-97 .. 150,000 1906-7 . . 775,000 1897-98 .. 300,000 1907-8 .. 800,000 1898-99 .. 425,000 1908-9 .. 800,000 1899-1900 .. 450,000 1909-10 .. Nil 1900-1 .. 500,000 1910-11 .. 800,000 If the amounts transferred from revenue had been borrowed instead of being provided in this way, the interest paid thereon, reckoning it at 3 J per cent., would nave totalled £2,001,400 to date.
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VI
OUK PUBLIC DEBT. As in the case of taxation, which, as I have shown, is by comparif on with other countries very light indeed, so there is another popular delusion which in my opnion requires to be dealt with—that is, that our debt is a grievous burden, almost too great to be borne. It is nothing of the sort, and the true position must be stated again and again at the risk of appearing to be wearisome in iteration. Our gross debt is large, but so are our assets ; and in considering the position of any individual company or nation the debts must not be referred to alone. What has been done with the money borrowed ? Are there assets to represent it ? What percentage of it has been applied to increase the earning-power of the business ? These are some of the questions which must be answered before an opinion can be formed as to the heaviness or the lightness of the debt under consideration. Our debt may be examined in detail thus :— £ Total gross public debt .. .. .. .. 81,078,122 Less accumulated sinking funds .. .. .. 1,240,734 Net debt .. .. .. .. £79,837,388 The gross debt is shown in detail thus :— Borrowed for — £ Maori war .. .. .. .. 2,357,000 Defence .. .. .. .. .. 2,783,727 Railways .. .. .. .. .. 25,602,948 Roads and bridges construction .. .. 6,871,251 Public buildings .. .. .. .. 5,240,251 Telegraph and telephone lines .. .. 1,431,647 Harbours and lighthouses .. .. .. 573,683 Immigration .. .. .. .. 2,463,002 Lands for settlement .. .. .. 6,303,485 Government advances to settlers .. .. 6,974,935 Government advances to workers .. .. 964,765 Bank of New Zealand shares .. .. .. 500,000 New Zealand Consols .. .. .. 462,166 Purchase of Native lands .. .. .. 2,461,167 Tourist and health resorts .. .. .. 131,507 Development of goldfields and coal-mines .. 987,598 Loans to local bodies .. .. . . 4,882,000 State fire insurance .. .. .. .. 2,000 Reserve Fund securities J .. .. .. 800,000 Scenery-preservation .. . . .. 40,000 Deficiencies in revenue, charges and expenses of raising loans, increase by conversion, &c, provincial liabilities, and miscellaneous .. 9,244,990 £81,078,122 I desire to point out that there is now a sinking fund for all our existing loans, and every future loan has a sinking fund provided for it without introducing any separate legislation to establish the same. We are in this respect in a singularly strong position. No other country in the world occupies so satisfactory a position. The portions of the debt borrowed for advances to settlers and workers, for purchasing lands for settlement, Native lands, Bank of New Zealand shares, construction of railways, telegraph and telephone lines, and loans to local bodies pay their own interest. Other portions are partly or indirectly interest-bearing. I propose to give details regarding our debts, and to show how they are used.
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Analysis of the Debt. Railways, £25,602,948. The railways pay more than the interest on the moneys borrowed for their construction. The general taxpayer contributes nothing to their upkeep, but indirectly benefits by their existence. Advances to Settlers and Workers, £7,939,700. This money is lent out at higher rates than those at which it was borrowed. The difference more than pays the cost of working the Department, and makes provision for a special sinking fund to pay off the loans, together with a reserve fund for all possible losses. A considerable profit will in all probability ultimately go to the State. Like the construction of railways, the lending of this money indirectly helps the taxpayer by increasing settlement and contributing to the Dominion's prosperity, and has conferred widespread benefit on the settlers, and indirectly upon the traders of the Dominion. Lands for Settlements, £6,303,485. Large estates have been purchased with this money and closer settlement so brought about. The rents and other income from the lands purchased more than pay interest on the money borrowed for this purpose. The expenditure indirectly helps the taxpayer, and without this system being in operation a number of peop'e in the Dominion now in good positions could not have enjoyed the happiness they now experience. Telegraph and Telephone Lines, £1,431,647. This sum, too, finds its own interest, and provides necessary and efficient public conveniences, and we have undeniably a most efficient telegraph and telephone system in the Dominion, and which I hope to see still greatly improved. Bank of New Zealand Shares, £500,000. The money for the purchase of these shares was borrowed at 3J per cent. The State has to pay £18,133 per annum interest on this £500,000 and on the expenses of converting it into stock. But it receives in dividends much more than £18,133 per annum. Since 1904 the State has paid in interest £125,900, and has received in dividends £262,500, giving a net profit of £136,600 .in seven years. If the shares were now sold they would bring much more in the open market than the half-million paid for them. I think you will agree with me in saving that, apxrt from this being a profitable investment, the attachment of the Bank to the D.im'nion is as a matter of public policy a wise one. Loans to Local Bodies, £4,882,000. This money was borrowed to help local authorities. The interest is paid by the borrowing authority for twenty-six, thirty-two, or forty-one years, according to the rate of interest paid—4|, 4, or 3| per cent, per annum. The loans have been no burden to the taxpayer, although the principal will have to be repaid by the State, and not by the local bodies. The indirect benefit to the State has, however, been substantial. Local authorities can now obtain a sufficiency of funds to enable them to carry on with reasonable activity local works of great value and convenience to those whom they serve. Under the old system the work of the local bodies was cramped and restricted. Reserve Fund Securities, £800,000. This amount was borrowed, and as soon as possible invested in England in undoubted securities which can at any time be easily realized. The interest received almost equals that paid. The investment was created to form a reserve which can be drawn upon in case of some great emergency, peril, or national disaster. The creation of this reserve has the approval of the greatest experts in finance. I hope in the years to come that an additional £200,000 may be added to the present sum, making £1,000,000 in all. The advantage to this country by so doing would be very great.
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I now show the division of our debt:— Self-supporting, earning Interest. £ Amount expended on railways .. .. .. 25,602,948 Loans to local bodies .. .. .. .. 4,882,000 Telegraph and telephone lines .. .. .. 1,431,647 Keserve Fund securities .. .. .. .. 800,000 New Zealand Consols .. .. .. .. 462,166 Total .. .. .. .. £33,178,761 Profit-earning. £ Advances to settlers and workers .. .. .. 7,939,700 Lands for settlements .. .. .. .. 6,303,485 Bank of New Zealand shares .. .. .. 500,000 State fire insurance .. .. .. .. 2,000 Total .. .. .. .. £14,745,185 It will thus be seen that £47,923,946 of our debt pays interest, and some of this gives more than the interest paid for its use, being actually profit-producing. If from this is deducted the sum borrowed to help local bodies, which when due will be paid by the Dominion, there remains a sum 0fj£43,041,946, which is no burden, from the point of view of taxation, and never will be, to the taxpayer. Of the remaining portion of our public debt, some is indirectly interest-bearing, such as— Purchase of Native Lands, £2,461,167. This has been well spent. Some of the lands purchased have been sold, some leased, and some are still owned by the Crown. The returns to the State in the way of rent, moneys received for sales, and the assets still remaining would be more than sufficient to set off against the liability. Roads and Bridges Construction, £6,871,251. This may be considered indirectly -interest-bearing, though it is well known that a very large portion of it has been loaded on the land and is direct interest-bearing, but for present purposes I call it indirect interest-bearing. The physical configuration of our country, its deep gorges, high hills, and numerous large rivers, made it imperative that heavy expenditure should be incurred for intercommunication amongst its scattered settlements. Otherwise settlement in many parts of the country would have been next to impossible, as without facilities for transport thousands of our people would have been in a sorry state. Were money not freely spent on such works the development of the Dominion would have been seriously retarded. I shall, however, in the ultimate analysis consider it as non-interest-paying. Expended on Public Buildings, £5,240,251. This amount may be regarded as indirectly interest-bearing. Rent would have to be paid if the State did not erect its own offices. To the foregoing might be added the loans raised for immigration and tourist resorts, but it is safer to regard them as non-interest-bearing. I will now state the loans that are non-interest-bearing.
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Non-interest-bearing. Loans for— £ Roads ani bridges .. .. .. .. 6,871,251 Immigration .. .. .. .. .. 2,463,002 Maori war .. ... .. .. .. 2,357,000 Defence .. .. .. .. .. 2,783,727 Harbours and lighthouses .. .. .. 573,683 Development of goldfields and coal-mines .. .. 987,598 Tourist and health resorts .. .. .. 131,507 Scenery-preservation .. .. .. .. 40,000 Charges and expenses of raising loans, increase by conversions, &c, together with provincial liabilities taken over on the abolition of the provinces 9,244,990 Total .. .. .. .. £?5,45?,75S Percentage ot The public debt may be summarized thus :— £ Whole. (1.) Paying interest and making a profit .. 47,923,946 58 per cent. (2.) Indirectly interest-bearing .. .. 7,701,418 .11 „ (3.) Non-interest-bearing .. .. .. 25,452,758 31 If the period of the Dominion's borrowing is divided into two —that before 1891 as the first, and after that date the second—it will be seen that the burden of our debt is really decreasing, although the total has largely increased during the second term. The interest-bearing and non-interest-bearing portions of our debt up to 1891, and from 1891 to the present date, are— Before 1891. Interest-bearing. I Non-interest-bearing. Borrowed for— £ j Borrowed for — £ Railways .. .. 14,580,000 Maori wars .. .. 2,357,000 Public buildings .. 1,800,000 Defence .. .. 1,638,000 Telegraph and telephone Roads and bridges .. 5,106,000 line 3 .. .. 769,000 ; Harbours ai d lightPurchase of Native landw 1,546,000 houses . . .. 484,000 Loans to local bodies .. 325,000 Immigration.. .. 2,459,000 Goldfields and coalfields development .. 571,000 Costs of raising loans, di counts and conversion into stock, &c, provincial liabilities taken over .. 7,195,350 Total .. .. £19,020,000 j Total .. .. £19,810,350 In 1891 49 per cent, of the debt was directly or indirectly interest-bearing, and 51 per cent, non-interest-bearing.
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1891 to 1911. Since 1891 our debt has been increased from £38,830,350 to £81,078,122, but it will bj st. en that more than 86 per cent, of the increase is self-supporting :— Interest-bearing. Non-interest-bearing. Borrowed for— £ Borrowed for— £ Railways .. .. 11,022,948 Defence .. .. 1,145,727 Public buildings .. 3,440,251 Roads and bridges .. 1,765,251 Te'egraph and telephone Harbours and lightlines .. .. 662,647 J houses .. . . 89,683 Lands for settlements .. 6,303,485 ' Immigration.. . . 4,002 Advances to settlers . . 6,974,935 Tourist and hea'.th Advances to workers .. 964,765 ' resorts .. .. 131,507 Bank of New Zealand God elds and coalfields shares .. .. 500,000 development .. 416,598 New Zealand Consols .. 462,166 Scenery-preservation . . 40,000 Purchase of Native Costs of raising loans, lands .. .. 915,167 discounts, and converLoans to local bodies .. 4,557,000 sion into stock, &c. 2,049,640 State fire insurance .. 2,000 Reserve Fund securities 800,000 Total . . .. £36,605,364 Total .. .. £5,642,408 Percentage of increase that is interest- Percentage of increase that is not bearbearing, 86"7. I ing interest, 13-3. So that it will be seen that prior to 1891 49 per cent, of our debt was directly or indirectly interest-bearing, and from 1891 to 1911 the percentage of increase of the loans that were interest-bearing was 86 per cent., while prior to 18 '1 the loans that were non-interest-bearing was 51 per cent., and from 1891 to 1911 the percentage of increase of our loans that were not benring interest was only 183 per cent. These facts speak for themselves, and should be remembered by who are so ready to cry out against our financial position. The average rate of interest paid on our loans was considerably more in 1891 than it is now. On the 31st March, 1891, it was £4 10s. 3d. per £100. Since then it has dec , ' by about 17J per cent., and is now about £3 14s. €d. Taking the difference in population, the rate of interet per head on the non-interest-bearing poition of our debt is much less now than twenty years ago. That which is earning interest, it cannot be too often repeated, does not oprress the taxpayer at all. In 1891 the population of the Dominion was, exclusive of Maoris, 634,058. It is now 1,008,407, an increase of 59 per cent. The non-interest-bearing debt has, however, increased by only 12-8 per cent. In 1891 it was £19,810,350: it is now only £25,452,758. At the rate of interest paid on our loans in 1891 the annual sum to be paid on the £19,810,350 of non-interest-bearing debt would be £893,446 —that is, £1 Bs. per head of the population. At that same rate of interest the amount per head on the £25,452,758 of dead-weight debt now owing would be £1 25., but we are paying less interest now, and for the £25,452,758 non-interest-produc ; ng debt now owing the present amount of interest would be £946,842, or 18s. 7|d. per head only. If we regard the whole amount of our debt as a dead-we'ght one—that is, neither profitable nor self-supporting, as the greater portions of the national debts of many countries unfortunately are—it will be seen that it is not so onerous now as it was twenty years ago. The interest paid per head on the whole debt was, in 1891 £2 15s. 3£d. : it is now £2 10s s£d., a decrease of 8 per cent. But in 1911 only 31 per cent, of our debt can be said to be dead-weight, while in 1891 51 per cent, of t was of this nature, and the amount payable on it has fallen from £1 Bs. to 18s. 7£d. per head of the population, a decrease of 19-4 per cent.
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How can any one in view of these striking facts say that our debt is increasing our taxation, and is being piled up to such an extent as to be unbearable ? It is to be much regretted that statements of this kind should be so persistently spoken and written by those who should know better. Ignorance in connection with this subject is to be expected in ill-informed persons, but for public men and newspape -writers, who have access to the records of the Dominion, to make such misstatements ia inexcusable. They have d serious injury to our country, whether meant to do so or not. It is the duty of every person who speaks asone having authority in public matters to make himself acquainted with the truth respecting our debts. The more minutely they are examined the better. It will be found that they are a diminishing load for the tax-payer to bear, that they have been on the whole well expended, and that the inhabitants of the Do ninion have benefited enormously by them. The provision now established by which they will be wholly extinguished in seventy-five years from the pre:ent time should further relieve well-wishers of the country from any anxiety in respect of them. I have considered it desirable to go somewhat at length into the position of our indebtedness owing to the persistent misrepresentations made about the financial position during the last few months. There appears to have been almost a widespread conspiracy of defamation of our country's financial condition which has made the foregoing full analysis necessary. As in mechanical laws, so in politics, action and reaction are equal and opposite, and when erroneous statements are made often a recoil is to be expected. I shall return to this question again and as often as appears to be necessary. WEALTH AND ASSETS OF THE DOMINION AND ITS PEOPLE. There are so many wrong impressions conveyed regarding the general position of New Zealand that I think it will be recognized as of use to our people if I set out an estimate of the private wealth in 1911. Our position may be seen at a glance by comparing our liabilities with some of our ass2te. Liabilities, £79,837,388 (of which only £25,452,758 is deadweight debt). Assets— £ Crown lands .... .... '.... .... 22,000,000 Educational lands .... .... .... .... 5,038,615 Government railways open and under construction on 31st March, lHll .... .... 31,509,900 Other public works, telegraphs, lighthouses, harbours, water-supply on goldfields .... 6,000,000 Value of lands held as security for amounts borrowed for Advances to Settlers and Workers .... .... .... .... 20,000,000 Value of lands held under Land for Settlements Acts .... .... .... .... .... 6,000,000 Bank of New Zealand shares, say .... .... 2,000,000 Reserve Fund securities .... .... .... 8L)0,000 £93,348.575 j ■ This does not, of course, cover all our assets, private land and mortgages being taxable as against public debts. If we include all our wealth, such as land, live-stock, bank deposits, timber, &c, the total exceeds £650,000,000. The sales of land have shown that the valuations are very much below that of actual sales, so that no exception can be taken to the valuations under this head as they are well on the low side. I am not taking into account the incomes derived from salaries and professions which now approach about four million sterling per annum. Nor do I take into account the earnings of the wage-earners, the estimated total income of which is £16.000,000 per annum. The public and private wealth in the Dominion is over 050 millions sterling, and I would again call the attention of honourable members to the fact that for every million increase in the public
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debt the assets have increased vather more than ten millions, so that when the position of the country is being criticized by those who recognize that the future construction of railways and proper provision for the public service of the people requires borrowed money to do a portion of it, they should not shut their eyes to the other side of the ledger, a glance at which proves conclusively that, though our debt is increasing due to the expenditure of money on well considered proposals for the general benefit of the people, the financial stability both of the country and its people is beyond all question, and per capita of the population our assets and wealth to-day are the highest in the world. The large increase in the private wealth of the people of the Dominion from year to year shows that ovcs j>er capita wealth is increasing much faster than our indebtedness. PRICE OF NEW ZEALAND STOCK. A preat deal has been said from time to time as to our indebtedness affecting adverse'y the credit of the Dominion. The 1 est answer to this will be found in examining the price of our stock compared with that of other Dominions at latest quotations, wLich I now do. 3-per-cents. 3|-per-cents. 4-per-cents. £ s. d. £ s. (i. £ s. d. New Zealand .. .. 86 10 0 97 0 0 104 0 0 New South Wales .. 87 10 0 98 10 0 104 10 0 Victor a .. .. 84 10 0 98 0 0 102 0 0 South Australia.. .. 82 0 0 98 10 0 Queensland .. .. 86 10 0 98 0 0 102 0 0 West Australia .. .. 88 10 0 97 0 0 Tasmania .. .. 84 10 0 97 0 0 There are bound to be fluctuations from time to time. The law of supply and demand affects the price of money as of any other commodity, and I take latest quotations as a reasonable guide to our position. We sometimes find our stocks ruling higher than our neighbours' and sometimes lower, but it cannot be suggested that by giving the latest quotations I have attempted to select a favourable perkd, yet they compare well, and our position is a strong answer to those who expiess doubts as to our standing at the world's financial centre. PUBLIC DEBT EXTINCTION ACT The amount that will be required to be paid out of the Consolidated Fund for the liquidation of the public debt will, during this year, be £144,8-5. This is a large sum and a good beginning, but, as fully explained in last year's Budget, it will involve but little extra trouble to the taxpayer and will be sufficient to pay off our pres nt, national debt in seventy-five years. The amount will be made up as follows: Saved to the Consolidated Fund by the discontinuance of the contributions to provide a sinking fund for extinguishing old war and defence loans and for the r payment of moneys raised for lending to local bodies, £92,305. Interest to be received from the Public Trustee on the sum of £992,192 held by him and set aside under the Act as a permanent to assist in the repayment of the whole of our public debt, £39,691. Amount to be paid in addition out of the Consolidated Fund, £12,886. Thus, for an additional payment of £12,886 out of the Consolidated Fund more than' was paid last year the whole of out pre ent debt not provided with an internal reserve or sinking fund for its repayment will be entirely extinguished in seventy-five years. The scheme has come well out of the criticisms, friendly and otherwise, to which it has been subjected, and the more carefully it is examined the more satisfactory it will appear. I had the pleasure of fully explaining the system to financial experts in London, and I am glad to say it met with general approval. i Inquiries have been made about the system from the Commonwealth States and other countries. Like many of the good things first introduced by the New Zealand Legislature, it is certain to be adopted elsewhere. I note with regret that the old but most common objection to it is still feebly voiced occasionally—that is, that some future Parliament will repeal the Act and undo what has been done under
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it. This argument woulcTbe just as unsound T if urged against any legislation. The abolition of capital "punishment, offences, the freeing of slaves, or any other enlightened measure could have been opposed with a like contention. We cannot, of course, bind future Parliaments in matters of this kind ; but why should we assume that our successors will be less honest than we are ? The world is getting better fortunately, and repudiation of their financial obligations by modern States is becoming rarer than formerly, and no such idea has or ever will be enter; ained by this Dominion. The mischievous statements recently made with such persistency in this country about present and past Governments seizing, or, as it has been inelegantly termed, " collaring," sinking funds deserve the strongest censure. I assert with emphasis that at no time in the history of New Zealand has any Government improperly used one single penny of a fund set aside for the repayment of a loan. Where accumulated sinking funds have been liberated and used for public purposes this was done in every case with the full consent of the lender. When this fund has been in existence for some year 3it will have a beneficial effect on our finances, enable renewal transactions to be effected with advantage to the The amount saved in interest will go a long way to providing the annual instalments required to be paid under it, amounting to only 4s. sjd. per £100 of our debt. In such matters as this we must look beyond the present. For years I have anticipated the] establishment of a well-thought-out system by which the repayment of the our debts would be assured within a reasonalle time. In my Financial Statement for 1895 I said, — " The question of the extinction of our loans has given me much concern. The time is approaching when, in my opinion, it would add to the stability of the colony, and place it in the forefront of any country in the world, if we would resolve to make a moderate sacrifice in providing with our annual interest a small payment to enable the loan to be extinguished within a reasonable period. ... I fully recognize the fact that financial authorities urge that a borrowing country should not provide a sinking fund until it has ceased to borrow. Circumstances alter cases, and I say that, with the novel prospects of obtaining money at such a low rate as would enable us to provide for the gradual reduction and extinction of our debt without adding to our annual burdens, the provision of a sinking fund is a course that has much to commend it. While posterity has doubtless to reap the reward of the efforts of ourselves and those who have preceded us, and should bear a full share of the burdens created to make the country, still, as prudent men we should, while recognizing the necessities of the times in which we live, endeavour to make our legacy as light as possible for those who will follow us. I think there is much to be said for this proposal ; and I am seriously of opinion that it would give greater stability to this country were we, when the right time arrives, to adopt an effective system for the extinction of our indebtedness." This will prove to honourable members that I have long considered such a plan, and that it is not, as some critics have unkindly suggested, a sudden inspiration due to a desire to make the way easier for further borrowing. I feel great pleasure, therefore, in realizing that this long-chexished project is now in actual operation. THE FIVE-MILLION LOAN. 1 learned upon my return to the Dominion that there had been much criticism by those opposed to the Government concerning the flotation of the five-million loan. When in England I ascertained from various financial authorities that the operation was regarded as a most successful one, nor did the fact that the underwriters of the loan retain a large portion of it in any way weaken the credit or do any injury to the Dominion. The abnormal causes that led to the underwriters taking up so large a portion of the loan were well known to financial houses in England, and the fact that they were within a comparatively short time able to dispose of as much of their holdings as they desired to the investing public at a profit showed conclusively that the disparaging statements as to the success of the loan made at this end were without foundation in fact. Moreover, we obtained a higher price for our loan than any of the other countries that were borrowing for some months before or since that period. In consequence of the statements that I learned had been circulated daring my absence regarding the loan, I felt it necessary to cable to the High Commissioner, and
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I will now put on record his reply to each of the questions I put to him. I will give the questions and their replies in their sequence, so that they may be more easily understood. Copy of cable sent to the High Commissioner for New Zealnnd, dated Wellington, 2Gth August, 1911, and reply to each question from High Commissioner, dated London, 26th August, 1911:— Firstly. —lt is stated here that flotation five-million loan was a failure because of the fact that large proportion loan was not taken up by public but retained by underwriters. Please state facts in connection with this aspect matter. Reply. —Statements did not justify describing loan as failure after full experience of other issues and general conditions. Underwriters were not aware that little public response probable. Nearly every important financial institution had an opportunity to underwrite, and not one has been dissatisfied with his bargain of being unable to unload his stock if required. This is true test, and that loan was underwritten on most favourable terms. Secondly. —Further stated that credit Dominion was such as to account for underwriters having to retain so large proportion of loan. Reply.— Quite untrue and proved by fact that despite serious depreciation of gilt-edged investments consequent in part on huge capital creations over all world, Government of New Zealand able to place here some £5,000,000 during IV/08-9, and further £1,860,000 in April, 1910, nearly all converted to stock by investors by last November. Without highest credit such operations impossible. Thirdly. —Had amount loan anything to do with underwriters retaining amount they did ? Reply. —With regard to the public response, No. , size of loan necessitated like distribution underwriting, and enabled all important city interests to participate, many doing so for investment. The transaction of securities regarded rather in the nature of a sale to investors. Fourthlij. —Please state any facts in connection with flotation loan that you consider necessary. Reply. —But for serious political crises owing to breaking down Conference between both Houses of Parliament then sitting, probable that small premium while the list remained open, and as consequence some applications would have been attracted from speculators, who.would have immediately sold the loan at a premium. Had the Conference resulted in an agreement, and the same been known before list closed, a considerably different result might have been obtained. Fifthly. —Should be glad if you would state also how loans raised by other countries immediately prior to and since flotation New Zealand loan have fared, giving dates flotation and name country. Reply. —Particulars loans issued and percentages underwriters as follows :— April, 1910 .... South Australian 3|-per-cents : underwriters 07 per cent. „ „ .... Province of Manitoba 4-per-cents : underwriters 87 \ per cent. May, ~ .... Canada £5,000,000: underwriters 78 per cent.; over £2,000,000 was conversion. „ „ .... West Australian underwriters 88£ per cent. June, „ .... Port Bombay 4-per-cents : underwriters "J8 per cent. „ „ .... City Vancouver 4-per-cents : underwriters 80 per cent. July, „ .... Grand Trunk Pacific 3-per-cents: underwriters 75 per cent. „ „ .... Newfoundland 3£-per-cents : underwriters practically all. Oct., „ .... Straits Settlement : underwriters 93£ per cent. Dec, „ ....Province of Saskatchewan 4-per-cents: underwriters 88 per cent. Feb., 1911 .... West Australia underwriters conversion loan. March, „ .... India : underwriters 38 per cent. „ „ .... Port London 3|-per-cents : underwriters 50 per cent. April, „ .... Vancouver 4-per-cents : underwriters 77 per cent. „ „ .... Queensland HJ-per-cents : underwriters 91 per cent. June, „ .... Province of Ontario 4-per-cents: underwriters 73 per cent.
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Sixthly. —Have New Zealand stocks upon London money-market been in any way depreciated as outcome flotation five-million loan ? lieply. —As the result of issue there has been little or no depreciation of the form of issue whereby stock need not be created in excess of demand protected us in that respect. Just previous to the issue price ruled about 98J. Price to-day about 97. But it would be well to remember that during this period there had been adverse fluctuations in British Government securities ranging from '2 per cent, to 3 per cent. British Consols, New South Wales, Queensland, and Tasmania 3J have dropped one to two points since November. Seventhly. —ls it or is it not fact that large portion loan was taken by investors to hold as investors' stock? lieply. —lt is a fact that v.ry large amount underwriting arranged by bonds as investment, and are doing so. Recent years policy bankers and others been take this class security in preference to stocks long currency. Eighthly. —Prior to flotation loans, would publicity of intention to do so be injurious or otherwise to Dominion ? Reply. —ln large financial arrangements city any public discussion in advance would be detrimental to affect negotiation. Among other reasons is following: In accepting new liability for city houses often find it will be necessary and profitable to reduce in another direction. Without secrecy this would be often impossible. It will therefore be seen that the underwriters held large portions of all these countries' loans, and New Zealand secured a higher price than any of them, even those paying a higher rate of interest than we did. RAILWAY-CONSTRUCTION. The expenditure during the year on railway-construction and improvement amounted to over one million pounds. The year has witnessed the steady prosecution of new railway-construction in various localities. The completion of the main arterial lines is a principal objective, and the chief efforts in the way of construction have again been directed to this end. The Commission set up during the recess to consider the comparative merits of rival suggested routes for the main line north of Auckland has completed its investigation, and submitted a unanimous report recommending the adoption of what is known aa the western route to Mangakahia and thence to a point near Kaikohe. Construc-tion-work on this and other main lines has been vigorously pushed on during the year. Much remains to be accomplished before the system of arterial railways necessary to provide adequate transport facilities for the producers now on the land and to meet the needs of our ever-extending settlement can be said to be complete; but the Government is endeavouring, by the prudent expenditure of the funds at its command, to gradually extend the system so as to provide the necessary convenience to the settlers without sacrificing its value as a revenue-producing enterprise. Some i'urtl c ■ linens of branch iaiiways are necessary, and fresh authorizations will be asked for this se.sion. ROADS. The expenditure during the year on the formation of roads and tracks and the erection of bridges, to provide means of access to comparatively new settlements was hardly so heavy as was anticipated, principally owing to a dearth of labour during the summer months, when road-construction in the more remote districts can best be pushed on. The services of the County Councils and Road Boards throughout the Dominion have again been utilized to carry out the larger part of the expenditure under subsidy or grant, and in cases where the local bodies were unable or unwilling to undertake or supervise the works the Government's own staff was intrusted with the expenditure. Some minor difficulties were encountered when the system was initiated, but these are gradually being overcome, and it is probable that the local bodies will, during the current year, be intrusted with the expenditure oran increased proportion of votes available for roadworks. In many cases the settlers concerned have displayed a commendable willingness to rate their lands for loans to be expended on road-improvement, and in most instances of this kind the Go-
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vernment has assisted those who endeavoured to help themselves, by granting subsidies on the amounts provided by means of loans. Much of the road-construction work now in progress is in localities remote from the larger settlements, and in many places the climatic conditions and uncertainty of obtaining regular food-supplies make it difficult to keep the works manned during the winter months. IBEIGATION. Satisfactory progress has been made with the development of the scheme for irrigating the lands in Central Otago, the productive power of which has deteriorated during a succession of years of insufficient rainfall. Surveys, recently completed show that a large area of fertile land in the Ida Valley can be irrigated by gravitation at an annual cost to the landholders which would be returned many times over by the increase in the productive power resulting from bringing in an abundant watersupply. The scheme is a very promising one, but the co-operation of the settlers is required, and the Government is now placing definite proposals before them that should enlist their interest and permit of the enterprise being brought into successful operation. The irrigation of other areas in Central Otago is also proposed, and much necessary survey work in connection therewith has been undertaken. There is good reason to believe that in many places where the natural conditions are favourable, irrigation would be practicable and successful from an economic point of view, and would be the means of restoring prosperity to this old-settled district. MINING. The output of minerals for the year shows a slight decrease over that of the previous year. This decrease in other minerals is balanced by a large increase in the production of coal, so that the total value of the output of the underground wealth of the Dominion shows an increase for the year. The decrease in the production of gold and silver is largely attributable to the restricted operations of the Waihi Goldmining Company, but it is hoped that the check is only temporary, and that when the cheap power from the Horahora Falls is available the company will be in a position to profitably treat low-grade ores, which at present are of no value. New Zealand is not solitary in showing a decreased yield of gold, as most of the Australian States also show decreases. Notwithstanding the decrease the mines are showing well, and'the year under review witnessed considerable improvements in some and a brightening in the prospects of others. There is every justification for regarding the future with confidence, and for recording the conviction that with fair encouragement in the work of development an even more prosperous era than the industry has yet experienced is dawning. One mineral that shows a large increase in production is scheelite, which is being actively mined in Central Otago, also at Wairau Valley, in the Marlborough District. The driving of the deep-level crosscut at the Thames is being actively carried on, and the striking of good prospects in the course of the work encourages the hope that favourable anticipations will be realized. The production of coal continues to increase, and for the first time in the history of the Dominion the two-million-tons mark has been passed, 2,197,362 tons having been produced, as against 1,911,247 tons for the previous year. AGRICULTURE. The year has shown very gratifying progress in the work of the Department of Agriculture. This progress is very marked both in the activities of the Department and in the greater interest displayed in its undertakngs by the agricultural community. The all-important dairy industry has received particular attention, with the object of increasing the profit to the fanner, and to assure a still higher quality of the products of that industry, butter and cheese. Of these, the herd-testing associations are being highly appreciated by the farmer. They have become move than popular. The demand for the establishment of these associations is in excess of the capacity of the staff of the Division available for that purpose. These testing associations have demonstrated most remarkably the difference between the profitable and the unprofitable cow. These have been revelations to even the most skillful of the farmers who are
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occupied in that industry. The pasteurization of milk will have a most important bearing on the future of this industry. It will assure the provision of a better quality of our dairy exports, and further, in view of the latest scientific knowledge, this pasteurization assures the maintenance of the health of the farm animal, and very materially with that the health of the human consumer of meat and milk. In this there is one of the principal means that will ultimately provide control of the white plague, tuberculosis. The Government is taking into consideration the question of turning into profitable account the wasts products from our butter and cheese factories. The result of this will be an increased revenue to the dairy-farmers of the Dominion. The dairy industry occupies a large share of the work on the experimental farms; in fact, there was at one of these farms the initiation of milk-recording and herd-testing, and from these there have developed the associations already referred to. These farms make special experiments in forage crops especially suitable for milking-cattle, and every effort is being made to encourage the cultivation of that great plant for the dairy-fanner, lucerne. As agricultural education is one of the most important subjects affecting the country, at one of the farms (in Waikato) a number of youths and young men are established there for training in agricultural practice. At Waerenga, in the Auckland District, on land that was at one time considered useless but which by experiment was found suitable for fruit-growing, a series of small farms, each of about 25 acres in extent, have been prepared, cultivated, and planted in fruit-trees. These farms were lately offered for selection. They are ail taken up. The aggregate value of these farms is estimated at about £6,000, and they have been provided for from ordinary revenue. A community such as will ultimately be established at Waerenga would assist very materially in bringing about an organized export of fruit, and it is to this export that the fruit industry must seek its success. This Department has also undertaken very extensive work in the testing of certain in different parts of the Dominion —for instance, the pumice lands of the extensive Taupo plateau, the gum lands of the northern peninsula, the intractable lands on the west coast of the South Island; and it is making a series of experiments with the object of regrassing depleted pastoral lands of the central regions in the South Island. Associated with this work is the allimportant soil-survey of the Dominion. The Chief Agricultural Chemist and a surveyor are undertaking a soil-survey of the forest lands of Otago and Southland with a view of enabling the fanner to treat a,nd cultivate those lands on scientific lines. Surveys are in progress applying to a million acres in the North Island, where an affection of stock militates against successful occupation of the land. The experimental farm is in demand throughout New Zealand, and it will be gratifying to inform you that such an institution will be established in the South Island. This farm will be particularly useful as applying to conditions of climate and of soil that have so far rendered the work of those in the North Island hardly applicable in the South. With this will be associated plantbreeding at three different stations, and plant-breeding is probably one of the most useful of the undertakings on the modern experimental farm. In Sweden with cereals, in Germany and in America' with beet for sugar-making, the increase in the value of the crop by selection in breeding has been phenomenal. The Department in many of its undertakings and on the experimental farms has but experienced what has been so universally felt in all other parts of the world where similar undertakings exist. There is first the period of a criticism, next of some appreciation, and finally that of both appreciation and confidence. These farms, in addition to their great value to the agricultural community, have, I am glad to say, shown a profit on the operations for the year. WATEK-POWEIi. Important progress has been made in the direction of giving effect to the decision of Parliament to bring into profitable use the latent power in our rivers and streams by the development of electrical energy on a large scale. The Government has secured the services of Mr. Evan Parry, a professional gentleman of high standing,
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with considerable experience of hydro-electric power schemes, to act as Chief Electrical Engineer, and has appointed Mr. Lawrence Birks, another engineer with high professional credentials, as chief assistant to Mr. Parry in this work. It is satisfactory to note that the preliminary investigations and survey work carried out principally under the direction of the late Engineer-in Chief were in the right direction, and that the first schemes to be undertaken by the new engineers will be those evolved and advocated by the late Mr. P. S. Hay. The policy of the Government is to develop one large proposal first, and study results before embarking on a more extended programme. With this end in view, preparations are being made for developing a large scheme at Lake Coleridge, and conveying the power to Christchurch, Lyttelton, and surrounding districts, where there is likely to be a market for it from the outset. It is also hoped to demonstrate the advantages of electricity for haulage purposes on railways generally, apart from its value in special cases where conditions are unusually favourable. Inquiries are being made with a view to establishing within the Dominion new electro-chemical industries, which would obtain their power-supply from the Government mains. One of the most promising is the manufacture of chemical fertilizers, for which there is likely to be a large and increasing demand throughout the world. With the natural conditions obtaining in New Zealand it is probable that products of this nature could be manufactured on a large scale at a price which would make the industry profitable in itself and of benefit to the whole community. Another feature of the development of our water-powers on a large scale, which would have an important bearing on the social life of the people, is its possible influence in the home. The problem of assistance in carrying on domestic work under existing conditions is one which is steadily becoming more acute in most civilized countries. A practical solution seems difficult of attainment, but will doubtless ultimately be reached by reducing the amount of personal effort required to attain a given degree of domestic comfort. In mv cpinion, the dav is not far off in New Zealand when, with an abundant supply of electrical energy available at a cheap rate, it will be within the power of most people to utilize the new power for all the lighting, heating, and cooking required, without any trace of dust, dirt, or excess of heat. Under these conditions the kitchen would become as clean and as comfortable as the drawing-room, and domestic duties would no longer bear the stigma under which they labour while existing conditions prevail. The estimates of expenditure and revenue in connection with the Lake Coleridge project indicate possible prices for the supply of current which warrant the hope that such a consummation is within the range of practical achievement in New Zealand. The important question of electrifying the Lyttelton Tunnel, through which a large number of passengers travel annually, has given the Government careful consideration, and the Electrical Engineer, Mr. Parry, has been instructed to report upon this matter without delay, and to prepare the necessary plans with a view to the work being put in hand at an early date. He has also been instructed to furnish a report upon the utilization of Lake Waikaremoana for the supply of electrical power for lighting and industrial purposes in the North Island. This is expected to be available at an early date, and I am hopeful that the waste power latent there will, before long, be made available for the uses of the people. NATIONAL PKOVIDENT FUND. This fund, established by the Act of last session, commenced operations in March last, and the Department is now actively engaged in distributing information relating to the benefits and in corresponding with employers, local bodies, and industrial organ 1 'zations throughout the Dominion. The applications so far received show that all classes are desirous of enrolling— farmers, artisans, labourers, domestic and clerical workers of all grades—indicating, I think, that the scheme is based on right lines, and that by the time it is in full operation a considerable number of our workers, not otherwise provided for, will be enjoying the security of the fund. Interest in the working of our Act of last year has been much stimulated by the comprehensive scheme now before the Old Country, and based on compulsion, wherein it differs fundamentally from our voluntary system.
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One of the most striking features of the British proposals is the thorough manner in which the machinery of friendly societies is to be utilized, and it is clear that any scheme purporting to deal with this problem must take into account the work of these well-organized and deserving bodies. In considering any extension of our system, therefore, the interests of the friendly societies can be relied upon to bo cai-efully protected. There is no doubt that the compulsory policy in respect of this important social reform has in recent years made considerable headway in public opinion, and few students of the problem doubt its efficacy in the older countries where highly organized industrialism and extensive distress exist side by side. The extremes of poverty and wealth existing in European States, however, find no parallel, even comparatively, in our land, where we are still fortunately in the position of being able to forestall many of the evils so inherent in older social systems. There is, I think, the opportunity in this country to attain universality of sickness and health insurance by the most economic methods and at the same time on sound actuarial lines—that is, by enlisting the young into insurance and preventing them from lapsing from it throughout life. It should also be our aim to secure the gradual co-operation of the various organized bodies having kindred objects. The lines upon which the fund might enlarge its scope would be to provide for immediate sickness, and enter into the question of assisting local bodies to overcome their superannuation difficulties. By following the policy I have outlined it should be possible, without entailing heavy financial obligations on the State or the individual, eventually to arrive at as good results as would be attained by the adoption of an immediate compulsory system. The insurance against unemployment proposed in the British scheme is admittedly experimental and restricted. It is the first national scheme of its kind, and the developments will be watched with absorbing interest in those countries where the problem is under observation. PUBLIC SERVICE CLASSIFICATION. As was stated in the Financial Statement of last session, the amalgamation of Departments and extensive retrenchments upset in a great measure the classification which had been almost finished by the Board appointed under the Act of 1908. During the recess the Classification Board appointed a committee to draw up a scheme for the classification of the whole of the Public Service, excluding the Railways and the Post and Telegraph Departments, which are already classified, and the report of the Board will be presented to Parliament shortly. It will not be brought into force this year, and ample time will be given to all concerned to appeal if desired. Increases of salary w T ill be provided on the supplementary estimates. PUBLIC TRUST OFFICE AUDIT. At the request of the Public Trustee, arrangements have been made with the Auditor-General for taking over the inspection of the Public Trust Office branches and agencies which for some years has been carried out by the office itself. The services of the Travelling Inspectors of the Audit Department will be available for this purpose, and will insure an independent audit being made, which is much moro desirable than a departmental one. PUBLIC SERVICE SUPERANNUATION FUND. The income during the year ended 31st December, 1910, amounted to £156,008 14s. 7d., including £32,785 15s. 4d., being the value of the Police Provident Fund transferred on Ist April, 1910, and £22,500, annual subsidy by the Government. The amount contributed by members of the Fund during the year was £90,214 13s. 6d., not including £1,904 11s. Bd. which officers of the Police Force contributed to their Provident Fund during the three months immediately prior to the date of merging ; the balance of the income being made up of interest, £10,211 16s. 4d., and fines, £296 9s. sd. The total outgo for the year, of £46,608 16s. 3d., includes allowances to members and to widows and children of deceased members, £36,009 17s. 3d., as
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against £17,862 5s. 9d. for the previous year; contributions refunded, r £5,744 13s. 5d.; compensation, £3,197 Us. 7d. ; and expenses, £l,657£5s. The total value of the fund at the end of the year was £263,948, the greater part of which was invested by the Public Trustee at rates ranging from 4| per cent, to 5 per cent. The number of contributors at the beginning of the year was 7,323, and 1,520 new contributors have since joined, including the 773 members of the Police Provident Fund. The number of officers who ceased to contribute during the year by reason of having left the service, retired on pension, or died was 472, leaving a total of 8,371 effective members of the fund at the end of the year. The statutory triennial examination of the fund is being made. POST AND TELEGRAPH DEPARTMENT'S OPERATIONS. The returns of the Post and Telegraph Department indicate a very successful year. For the first time in the history of that Department the revenue has exceeded one million pounds, as will be seen by the table of revenue. The balance of revenue over expenditure for the year amounts to £123,196 9s. 5d. The Savings-bank deposits reached the large sum of £10,708,938 16s. 10d., bringing the balance to credit of depositors up to £14,104,989 19s. 2d. The turnover of the money-order and postalnote business for the year exceeded five and a half million pounds. These figures show a very healthy state of business in the Dominion. Steady progress has been made in connection with the extension of the telephone system to remote districts. The recent decision under which the Department takes half the risk of the estimated deficiency on telephone-lines applied for has been the means of providing communication to many places where the business would not have warranted such facilities unless on payment of a comparatively heavy subsidy by the settlers. At the same time the rate of interest hitherto charged on the capital cost of construction, on which the subsidy is based, has been considerably reduced, and minor charges have been abolished. The demand for trunk telephonelines between the larger towns continues. This class of service involves a heavy capital investment, but, as these facilities invariably result in a profitable business, the Department is endeavouring to cope with the demand as fast as means will allow. The construction-works carried out during the year amounted to 426 miles of poles and 2,456 miles of wire. There were 103 new telegraph-offices opened during the year. The experimental wireless station at Wellington has been of practical value in notifying the near approach of vessels installed with like apparatus. It is proposed to have the permanent station on a site on the South Tinakori Hills near Wellington, thus enabling communication to be held with vessels within a 300-mile radius. Sites have been selected at Awanui, north of Auckland, and at Awarua Plains, between Invercargill and Bluff, for the establishment of high-power stations having a radius of 1,250 miles. Contracts for the two latter works have been let, and it is anticipated that the Awanui Station will be in working-order early next year, and the Awarua Plains Station a few months later. Low-power stations at Gisborne and in the neighbourhood of Christchurch are expected to be in operation in the near future. LAND AND INCOME TAX. Both taxes were paid up very well, the percentage outstanding at 31st March being small. This branch of the revenue continues to be collected at a very low cost. The percentages of cost to revenue are as follows: Income-tax, 1.75 per cent.; land-tax, 2.71 per cent.; both taxes, 2.23 per cent. Income-tax. The amount collected for the year was £407,235, as compared with £316,835 for 1909-10, an increase of £90,400. The increase is due to the new graduated rates of taxation, which were in force during the period under review. The estimated result of £80,000 additional revenue due to the new scale was more than realized.
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Land-tax. The amount collected was £628,723, as compared with £642,270 for the previous year, a decrease of £13,547. Honourable members will recollect that this was anticipated in last year's Budget, as I estimated the probable revenue at £625,000. The reduction is owing chiefly to the subdivision of large estates, which necessarily reduces the' revenue, but the cause will be recognized as being most satisfactory. Land and Income Tax. I estimate the receipts for 1911-12 as follows: Income-tax, £410,000; landtax, £635,000. These figures are very little in excess of the collection of last year. I have before pointed out to honourable members we cannot expect a recurring increase of land-tax, as it is found the increase resulting from enhanced valuations made from time to time by the Valuation Department is equalled by the diminution in the graduated land-tax caused by the subdivision of estates which has necessarily followed this particular form of taxation. LAND SETTLEMENT FINANCE ACT. Very satisfactory progress has been made under this Act. The amendments introduced last session have somewhat simplified the procedure, but further amendments are required to complete the measure. The total number of associations incorporated or approved under the Act is eighteen, with a membership of 107, and an area of 14,965 acres, valued at £209,577, has been dealt with by them. In addition, there are five other associations under consideration, and eleven proposals [to rform associations and purchase lands have been declined for various reasons. The Board has had to exercise very considerable care in dealing with the formation of associations, as it is found that the members are apt to enter into an agreement without due consideration. The responsibilities which each member is supposed to undertake are not well understood, neither are the conditions of purchase in some instances being compiled with. Further safeguards are still very necessary. The system of land purchase and closer settlement provided for by the Act will have a great development when better understood. LAND FOR SETTLEMENTS ACT. There have been a considerable number of estates purchased during the year, of a total area of 14,399 acres, and valued at £158,796. The bulk of these have been taken delivery of, and satisfactorily settled. There is an increasing demand for land, both pastoral and agricultural. Every effort is being made to secure suitable areas at anything like a price that will leave a living-margin to the settler. NATIVE-LAND SETTLEMENT. The activity of the Native Land Court and its effect upon the progress towards settlement of Native lands during the past year has been most marked. During the year ended 31st March, 1911, the Native Land Court investigated the ownership of a total area of 186,679| acres hitherto unclothed with title, and dealt with 833 partitions, affecting an aggregate area of 503,829 acres. In addition to the foregoing, the Court confirmed forty-nine transfers, comprising 11,628 acres, and approved twenty-four leases, of a total area of 5,086 acres. These transfers and leases were in respect of lands not situate within a Maori Land Board district. MAORI LAND BOARDS. As to the general settlement of Native lands dealt with by the Maori Land Boards, the position is that during the year some 435 alienations by way of lease were approved, covering a total area of 116,498 acres, and 660 transfers, comprising 78,346 acres, were consented to; while, under Part XVIII of the Native Land Act, 1909, some thirty-seven transactions by way of sale and lease, covering 98,922 acres, were completed, making a total of 293,766 acres dealt with by these Boards by way of approval to arrangements made between Native owners and alienees. The various Boards administer as vested lands some 975,010 acres, of-which area they have issued 422 leases, of a total area of 282,402 acres, and twenty-four transfers, comprising 6,008 acres. The remaining areas are being surveyed into subdivisions, and also roading, &c, preparatory to being placed on the market.
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The advantages of the assembled owners' provision (Part XVIII) have not yet received the full attention of the public, but every indication points to this important feature of the Native Land Act. 1909, being better availed of in the future. Although during the first six months practically no application under Part XVIII had been received, a considerable area was dealt with in the last half, and the settlement of 115,143 acres thereby determined. The Boards during the year issued requisitions for the surveys of 112,685 acres, which it is anticipated will be completed and lands offered during the current year. Native Land Purchase Board. The Board as constituted by section 361 of the Native Land Act held twelve meetings, and considered offers aggregating 902,074 acres. The purchase of 75,437 acres has been completed, while some 430,560 acres are under negotiation. Private alienation has been prohibited in respect of 271,058 acres, while the offers of 88,933 acres are held over pending appeals, &c. Only two offers, totalling 162 acres, were declined by the Board. Meetings of assembled owners in respect of several offers passed resolutions against the sales of a total area of 35,922 acres. Fees. During the year the fees paid into the Public Account were —by Native Land Court, the sum of £5,945 16s. 5d. ; by Maori Land Boards, £3,469 18s. 6d. ; other sources, £92 5s. : in all aggregating £9,507 His. lid. A study of these important figures will show that the settlement and occupation of Maori land is being proceeded with at a rapid rate. If it were to continue for a very few years, not one acre of Native land would remain. The area of land dealt with during the past year easily constitutes a record, and proves the value of the comprehensive legislation embodied in the Native Land Act, 1909. DEFENCE. The new Defence Act, which is now in operation, provides for the gradual military training of every male above the age of fourteen in New Zealand, and the enormous amount of work involved in connection with the putting into operation of this Act is, I think, quite apparent to honourable members. It is to be hoped that we shall eventually be able to build up a citizen army which, in its organization, training, and efficiency, will enable us to preserve our shores inviolable from invasion by a foreign foe. I would mention that a staff of specially selected officers has been engaged from the Imperial Army at Home, in order to assist in the carrying-out of the organization and training of the new force on the most modern and up-to-date lines, and it is very gratifying that such excellent headway has already been made towards placing our defences on a more secure footing. The authorizations asked for are within the amount I placed before the House when submitting the new Defence scheme for its consideration. To enable the necessary equipment to be provided, I propose to pay out of ordinary revenue the full amount required, which is estimated at £150,000. It is not desirable that equipment should be provided out of loan-moneys; and, holding this opinion, I am making the necessary provision to enable the course I am now indicating to be followed. The extremely practical outcome of the new Act, whereby all youths who are physically fit, and have attained the age of fourteen years, undergo a course of military training, will, I am confident, be of undoubted benefit to the individual in after-life. During his period of training he will be taught discipline and those habits of alertness of mind and body, also patriotism, which should be the qualities of a good citizen as well as of a good soldier. There is no need, I think, for me to further enlarge on the good results that will accrue by the adoption of universal military training in New Zealand. Special efforts are being made to ensure that the building-up of this force will be carried out with a minimum of inconvenience to employers and employees, and without in any way interrupting the ordinary routine of trade and commerce. The necessity of always being prepared to defend our shores is of paramount importance, and it behoves us all to do everything in our power to assist the scheme and endeavour to bring home to the people of this Dominion the great responsibility which rests with themselves, as the building-up of a citizen army on the most economical
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lines possible will depend in great measure upon the support and sympathy of the people, who must provide, in addition to the necessary funds, the spirit that will give it life. The New Zealand Dreadnought. Tn connection with the New Zealand Dreadnought battleship, I have the pleasure to inform honourable members that it has been duly launched, and it is anticipated that it will be in commission and ready for the Pacific by 1912. Volunteers. Last year you will no doubt remember ray mentioning the excellent work the Volunteers have done in connection with the defences of this Dominion, and I would like to take this opportunity of reiterating how thankful I am to all officers, non-commissioned officers, and men for their valuable services in the past. I am very glad that some of them will be able to continue in the good work, and lend their assistance towards making the new scheme a success. Until that day comes when nations will be persuaded to abandon their armaments and forego the right of moulding their own destinies at the expense of others, we must be prepared to make sacrifices in order to do our share towards helping to keep intact our great and glorious Empire, and it would be well to always remember the motto, " United we stand, divided we fall." I intend to ask Parliament to pass a resolution expressive of its appreciation to those who have served in the past. STATE-GUARAXTKKM ADVANCES DEPARTMENT. A DVANCES TO SETTLERS. The amount granted to settlers during the year whs ':1,204.3k), an increase over the previous year of £109,190. The number of applications received proves tlie large demand still existing for cheap money. Advances to Workers. This branch shows a record in business, the amount granted to workers for building or acquiring homes during the year being £407,700. Complete plans and spec fication. have now been printed. They are deposited for inspection at the Valuation Office in Auckland, Christchurch, and Dunedin, and at the principal postoffices in the Dominion. Copies are supplied to borrowers free of charge. They comprise eighteen different types of building of from tAvo to seven rooms costing from £120 to £750. They have been planned with a view to the maximum of convenience at a reasonable cost, and when availed of will do much to increase the comfort of workers and their families. Woekekk' Dwellings Act. I am glad to say that the system by which a worker can obtain a home for himself by paying a deposit of £10 is being largely availed of. Since the legislation passed last session, 1,800 applications under this beneficent scheme have been received. I think I may say that the three methods —of building workers' homes direct by the Government, of providing money to secure homes themselves, and of securing a home by depositing £10 as an initial payment —lias already done much and will do more in the future to solve the rent question. ■ Advances to Local Authorities. As anticipated, a large amount of business has been done in this branch. The total amount applied for during the year was £3,701,312. Of this, LI,857,394 was provisionally approved—that is, granted subject to sufficiency of security and validity of procedure. Applications lor 11,843,9IS were declined. Those for loans for recreation-grounds, installations of electric light, tramways, town halls, libraries, and municipal theatres were refused, as it was thought desirable to favour loans for roads, bridges, water-supply, drainage, and other more necessary works in preference. Loans for repayment of moneys already owing by local bodies were also refused. Apart from what is owing to the Government under Local Bodies' Loans Acts there is a sum of over £13,000,000 owing by local authorities in New Zealand. It is obvious that if the Advances Department were to begin advancing its funds at 3-| per cent, to repay such debts, the average rate of interest on which is about £4 12s. per cent., there would be little lei't for carry'ng out urgently needed new works. At present none can be spared for repayment of old loans, but it is^hoped
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that the existence of the Department will have a tendency to lower the average rate of interest paid on such loans. On first-class security such as is given by our local bodies the average rate of interest paid for loans outside of the Government should be less than it is. The procedure*for obtaining loans has been greatly simplified, as promised in my last Budget. After the ratepayers have approved the loan the Department does practically A pamphlet has been issued giving full instructions to applicants how to obtain an advance. Interest is charged only on moneys obtained from the office during the progress of the work, so there is a great saving of interest and costs, and avoidance of worry. Full details of the average amounts of the loans to settlers and workers on freehold and leasehold, and the provincial districts receiving them, are given in the already laid on the table of the House. The total amounts advanced, including repayments lent again, s nee the Department commenced business is—advances to settlers, £10,547.970; advances to workers, £1,277,765 ; advances to local authorities, £405,195 : total, £12.230.930. There can be no doubt that these large sums spread amongst so many borrowers at low rates of interest and on easy terms have contributed largely to the prosperity of the Dominion. Much of this money has been expended in assisting numerous settlers who would have been unable but for the Department to obtain homes for themselves. OUE TAXATION NOT HEAVY. I am of opinion that in the best interests of the country it is desirable to deal with the widely made and persistent statements that have been circulated in reference'to the taxation of this country, statements which have been the means of creating an erroneous belief as to the amount of taxation borne by our community. It is sometimes honestly but mistakenly stated that New Zealand is the most heavily taxed community in 'the British Empire, if not in the civilized world. This is far from being true. In comparing the taxation paid by individuals in different countries we are ] met with serious difficulties in getting the exact position. Some countries levy more from direct taxation than others. The revenue derived from property-tax, land-tax, estate duties, or incometax is collected in different ways by different Governments. In some countries there is no income-tax, in others no land-tax. In some inheritance-taxes are considerable, in others wholly absent. The incidence of taxation, direct and indirect, differs greatly in most systems, in some the poorest members of the][community paying an unreasonable proportion of the whole. It is necessary to distinguish between taxation and charges for services rendered by the State. In a country like New Zealand, which owns its railways, the income of the service is regarded as revenue, and it is an error to speak of this as taxation. If the total annual earnings of the railways of the United States of America (£580,680,445) or the United Kingdom (£120,174,052) were added to the revenue of those countries, as is done in New Zealand, the taxation would appear to be enormous; and so on with other State activities. Only by a careful analysis can the real amount of taxation be ascertained. A country with a small revenue per head mayj have a more oppress : ve system of taxation than much larger'per capvta'revenue. The status in civilization of a country may be gauged roughly by the proportion of its revenue applied to useful public purposes and. the equitable incidence of taxation— that is, the proportion of revenue collected from those best able tojbearfit. Judged by this standard New Zealand holds a high position indeed. Take a small business man, farmer, artisan, or labourer with four children in New Zealand owning land valued at not more than £500, and on which a borne an i busine s premises are erected at a value of £1,000, or even more, and in receipt of an income under £300 per annum. He pays no direct taxation whatever to the General Government, and may contribute very little through the Customs, if he is a teetotaler and nonsmoker. Even if he and his wife and children use the average quantity of dutiable goods, including silks, jewellery, and other articles deemed luxuries, he will pay onlv about £6 8s. 2d. per annum. If he consumes the average amount of tobacco and alcohol in addition, he will pay in all £10 5s. 9d. in indirect taxation. If they elect to go without what are considered luxuries, he and his family will pay hardly anything at all in the way of taxation. For the amount paid, supposing it is £10 5s. 9d. per annum, he gets much in return. His children receive a free education. At £5 8s. per annum, the cost of the education of each child from the age of five to fourteen, he receives from the State £21 12s. yearly. If his children are talented they can win their way to any position dependent upon a superior education. When his
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children begin to work they are looked after by Government officials to see that they have sanitary surroundings, get a minimum wage, sufficient air-space, and are not worked too long each day. He is also safeguarded in many ways during his workinghours, and, if he has been unfortunate, will at sixty-five receive a pension from the State for the rest of his life. His lot in respect of taxation and the benefits obtained therefrom will compare favourably with that of any worker anywhere in the world. In New Zealand no income-tax is paid on an income of less than £300. This is a very high exemption. In Britain it commences at £160 ; in Japan at £30, and it rapidly progresses there until at £10,000 per annum as much as 4s. in the pound is taken by the State. In Germany taxation on the poorer members of the community is much higher than in this Dominion. In addition to the heavy Customs duties on meat and other necessaries of life, the income-tax which they have to pay is, compared with outs, very severe. Here are some examples which should be studied In order to realize how fortunate we are in comparison. The amount of exemption varies in different States of the German Empire. In Prussia all incomes of £45 or over, earned or unearned, must pay income-tax. In some States the exemption is only £20 ; and, as the tax is assessed on the total earnings of the family and not those of the father only, few escape it. It is graded from \ per cent, to f per cent, on an income of £45, and increases as the income grows. Take the case of a servant girl in Saxony with a salary of £15 per year. Taxation on incomes begins in Saxony at £20, but income includes food, lodging, Christmas presents, and other gratuities. The employer is compelled by law to give the authorities a list of these items. Food, lodging, and other things will be, at the lowest computation, £23, making the income £38 per annum, bringing the girl under Class 3. The direct tax is 4s. per year, but|in Germany the local taxation is based upon the Imperial tax. In some towns it is the same, in others more : thus, in Frankfort-on-the-Main the local tax is 125 per cent, of the Imperial tax, in Duisburg 200 per cent, at Elberfeld 230 per cent., at Berlin 100 per cent. In some places it reaches 350 per cent. At Dresden the servant girl, in addition to the 4s. direct taxation, must pay for general purposes 3s., for church and school tax about 3s. 6d.; total, 10s. 6d. If the total income is £40 instead of £38 she is placed in Class 4, which applies to incomes of from £40 to £47 10s. She will then pay 18s. in direct taxes. Consider the position of a married couple in Dresden, each working, and together earning £100. They are taxed together, and will pay £4 10s. out of the £100. If in different occupations and separately earning only £50, each would have to pay income-tax amounting to £1 16s. But in New Zealand it is not only the poorer persons who are lightly taxed. Those who are members of what in other countries are called the middle classes are better off here than elsewhere. We will take the case of a man receiving £1,000 per annum in New Zealand, England, and Germany. In New Zealand he will pay £29 11s. 8d.—that is, lid. in the pound on £700—all in excess of the exemption of £300. A Londoner receiving £1,000, half of which is earned and half unearned, will pay on the £500 earned, at 9d. in the pound, £18 5s. ; on the £500 unearned, at Is. 2d. in the pound, £29 3s. 4d. : total, £47 18s. 4d. At Frankfort-on-the-Main a person in receipt of a similar income will pay £96 per annum. The German Empire is purposely taken for comparison. It is one of the greatest of world powers, in the front rank of civilization and prosperity. Were a poor or backward State referred to it might be said that the comparison was unfair. It is not necessary, however, to go as far as Europe to find a country where the small man is more heavily taxed than in New Zealand. In Tasmania incometax is payable as soon as the income reaches £80 per annum. The exemption begins to diminish at £110 and disappears at £400, so that on an income of £300, at which a New-Zealander pays nothing, a Tasmanian pays income-tax on £270 at in the pound—that is, £6 3s. 9d. There is no exemption for land-tax, which is payable on every pound of the unimproved value, and if he owns unimproved land worth £500 he will pay £2 Is. 8d. land-tax in addition.
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A glance may be taken at the direct-taxation systems of the other Australian States. ' In South Australia a man owning land of the value of £500, exempt from taxation in New Zealand, would pay Jd. in the pound =£1 os. 10d. Absentees beyond the Commonwealth pay 20 per cent. more. Tf his income is £300 and derived from personal exertion (exempt in New Zealand), he will pay 4|d. in the pound on income over the exemption of £200 =£1 17s. 6d. Tf his income is from property the rate will be 9d. in the pound—that is, £3 15s. In Victoria the unimproved-value tax on land is hd. per pound : the owner of £500 will pay £1 On. 10d., as in South Australia. Income-tax is at the rate of 3d. in the pound on an income of £300 per annum, if such income be derived from personal exertion (other than income arising from live-stock, wool, meat, milk, dairy-produce, fruit, fodder, and other crops arising from land under the unimproved value of £5,000, after allowing an exemption of £150), and 6d. in the pound if arising from any other source except income from interest on Government debentures, dividends from companies, &c. A person in receipt of an income of £300 per annum, at which a New-Zealander is exempt, will pay from £1 17s. 6d. to £3 15s. In Queensland there is no land-tax except that of the Commonwealth and local authorities' rating, but income from land exempt in New Zealand is taxable, with an exemption of £200 ; above £200 it is 9d. in the pound, so that an income of £300 per annum derived from land would pay £3 15s. in taxation. On income derived from personal exertion, the first £200 is exempt, and 6d. is payable on every pound over £200. It is interesting to compare the taxation on dividends of companies in Germany with that of New Zealand. Let us suppose that in this country a company with a capital of £100,000 makes £10,000 profit and distributes £8,000 in dividends. The taxation payable will be—lncome-tax on £8,000 at Is. 2d. in the pound, £466 13s. 4d. ; annual license fee at Is. per cent., £50 : total, £516 13s. 4d. A similar company in one of the German States—say, in Duisburg, where, the local taxation is twice that levied by the Imperial Government—will pay —Income-tax on £10,000 less 3| per cent, on the capital of the company, that is £10,000-£3,500 = £6,500, £260; to the city on a £10,000 trade license at 2 per cent., £200 ; income-tax, local, 8 per cent., £800 : total, £1,260. But on the £8,000 paid in dividends income-tax lias to be paid by the recipients. The amount will depend upon the total income of each of the shareholders, as the income-tax is graduated. If they are persons in receipt of incomes of £500 per annum they will pay to the State 3 per cent. —£240 : to the local authority, 6 per cent. —£480 ; to the church, 0-45 per cent. —£36 : total, £756 : bringing the total taxes on the £10,000 to £2,056. In New Zealand incometax is not, of course, levied on dividends received from companies, the one tax at the source only being collected. We hear a lot of complaints about our land-tax. This is not high until the graduated tax becomes payable ; but it must be remembered that our graduated land-tax is not imposed for revenue purposes, but with the intention of causing closer settlement by a subdivision of large estates, which will, of course, reduce the revenue derived from the graduated tax. In New Zealand an owner of land of the value of £500 or under is, as stated, exempt from land-tax, no matter what the value of his house or other improvements thereon may be. In many other countries not only is there a tax on land of small values and all improvements thereon, but a portion of the increase in values is also claimed by the State. Thus in England the duty on increased value is a tax of 20 per cent, levied on any increase in the sitevalue. It is to be paid whenever the land is sold or let on lease for more than fourteen years, and whenever it changes hands by death. The duty is £1 for every complete £5 of increment-value. Then there is the reversion duty, which is a special form of increment-tax payable on the determination of a lease of land payable to the owner or lessor. It is £1 for every £10 of increased value. Again, there is a duty on undeveloped land at the rate of for every £1 in value. There are certain special exemptions, of course, to all these taxes, but their existence shows how much better off the landowner is in New Zealand. In Germany, on all inhabited houses and landed properties that change ownership within a period of from twenty to sixty years a State tax of 1 per cent, and a local tax of 2 per cent, must be paid on
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the sale price—that is, 3 per cent., no matter whether it is sold at a loss or gain compared with the previous sale price. If there is a profit—that is, an increase over the previous sale price—there is a graduated scale of taxes amounting to 4 per cent, on the increase of from 25 per cent, to 30 per cent., and 1 per cent, on each increase of 5 per cent, above that. Inheritance-tax. There have been complaints without real justification made as to the amount that i.s obtained in this country From inherited estates, but I p , oj ose to'show that it is not excessive in New Zealand. It is increasing in all countries. Estates of £500 or under are exempt in New Zealand from estates duty. Those taking the inheritance pay according to the relationship of the successor to the deceased, strangers paying 10 per cent. Great care ha.s been taken in our legislation to protect the family. In some other countries not only is the succession duty as high as ours, but the interests of the wife and children of the deceased are not nearly so well guarded. In the United Kingdom estates of over £100 and under £500 pay 1 per cent., so that £4 would be payable. In this country there would be no tax. Succession duty is higher on collateral heirs in the United Kingdom than in New Zealand, and the maximum is the same —-10 per cent. In Western Australia the inheritance-tax would be, on an estate of £500, if the wife and children were at the date of decease bond fide residents in Western Australia, £2 10s. ; if not, £5. In Queensland the duty on an estate of £500 left to wife and children would be 1 per cent. —£5. In South Australia there is an exemption of £500 if the estate goes to wife and children ; strangers have to pay, as with us, 10 per cent. It is the same in Tasmania. Of the United States, all but ten levy inheritance-taxes. The tax varies greatly. In some of them the amount reaches 12 per cent., 15 per cent., and in one —New York—in the case of large estates and unrelated or distant persons inheriting, 25 per cent, is taken. The maximum estates duty (15 per cent.) and succession duty (10 per cent.) is the same in the United Kingdom as in New Zealand, but the higher duties are reached much sooner in New Zealand, while the smaller estates up to £3,000 are more lightly taxed here. If we look around the world and compare the taxation systems of this country with those of others, we must be impressed with the advantages our people enjoy in this respect. A man may own a home worth £500, receive an income up to £300 per annum, and he will not pay one penny of direct taxation during his life, nor will his estate on his death if it passes to his family. How many countries are there in the civilized world the inhabitants of which are in such a fortunate position ? COST OF LIVING. This has increased within the last few years in nil countries in the world to an alarming extent. It has resulted in much suffering and serious disturbances in many places. It is explained in different ways and is attributed to various causes, but authorities who have investigated it state that it is principally due to the increased production of gold, and in oonsequence a corresponding increase in the exchange value of goods purchasable by gold that is, more gold is required for purchases now than when gold was scarce. Whatever the cause, the effect is very serious, especially on the poorer members of the community. All right-thinking people arc anxious to Hud a remedy if possible, and with this object in view the Royal Commission bo inquire into an uneinploymentinsurance scheme will also fully investigate the matter as far as New Zealand conditions are affected, and I hope valuable suggestions will result therefrom. REMISSIONS. The condition of the revenue warrants concessions in our gift duty, as also those connected with estate duties when the disposition of the latter is to a stranger in blood, and I will ask the House to remove the duty on gifts up to £1,000 on gifts from husband to wife, and wife to husband, as also from parent to child, and up to £'200 on property left to a stranger in blood.
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INSURANCE AGAINST UNEMPLOYMENT. I am <>f opinion that the time has arrived when a practical .scheme of insurance against unemployment and sickness should be established in this country, and to enable it to be carried out on effective lines I propose to set up a Commission of representatives of employers and employees of the Dominion to examine into the scheme submitted to the British Parliament by the Right Hon. Mr. Lloyd George in order to adapt it to our circumstances and to make provision for relief on a scale that will meet the circumstances of those who either from sickness, incapacity, or other causes find themselves unable to obtain or avail themselves of work. The matter requires to be approached from a broad-minded standpoint, but at the same time with care and caution. My idea is that it should be associated with friendly societies throughout the Dominion, and that with the aid of the Government associated with those bodies a humane and practicable scheme can be adopted. ENLARGEMENT OF SCOPE OF OLD-AGE PENSIONS. The burden of life in old age falls most heavily on men and women who have to support in indigent circumstances a family of young children, and provision will be made that where a woman over fifty-five years of age, or a man over sixty, has two or more children below the age of sixteen I propose to ask the House to authorize a pension to be paid to her or him at a rate of 50 per cent, higher than now paid under the Old-age Pensions Act. I estimate this will cost about i!l(),000 per annum. Assistance to Widows. I propose to submit a system for the partial relief of widows with children left in poor circumstances. The amount to be paid will range from 7s. 6d. to 10s. for the widow weekly, it will be worked in conjunction with the old-age-pension system. At present there are about 7,600 widows between the ages of twenty-five and fifty-five in the Dominion. I estimate that over one-third of this number would be sufficiently provided for and would not require assistance, and as one marriage in five is infertile the number coming under the scheme would be about 3,000 —I estimate the amount required for this laudable purpose will be not more than £55,000 per annum. OIL AND IRON WORKS. It is recognized that New Zealand must do its best to promote the development of its oilfields and its minerals. The institution of these great industries is beset by many difficulties. Among these is the large amount of capital required, and I feel that all reasonable relief should be given to those trying to establish thes important undertakings. With this in view I propose, in connection with oil plant, either to admit it with the machinery for the development of our oilfields free of duty or to remit it by a provision on the estimates; or where such machinery can be locally made to meet the requirements of these industries, to give a bonus to our local manufacturers equal to the amount of the freight. Assistance must also be given to enterprise seeking to make our iron ore and sands available for profitable use, and State assistance will be given in these cases on condition that the State has the right of acquiring the iron works and fields on proper conditions if Parliament should deem such purchase desirable. At the present time the Government has an offer to establish the iron industry in New Zealand upon giving an annual contribution for a period of forty years. The condition asking for the contribution to be for a long period of years is one that the Government is of opinion should be reduced and provision made for giving the right to acquire such works by the Government on terms fair to the owners at any time on reasonable length of notice being given, for the alternative is to continue the subsidy for a longer period. lam of opinion that it is of great importance to the country that we should encourage the production of iron from our ores and ironsand, and have it supplied at a rate to our manufacturers that would enable them to successfully compete in the work of manufacturing articles against competition from beyond New Zealand. If such a work is put in hand I should expect in a few years to find at least ten thousand men employed in a great industry of the kind; and we need for our public purposes as well as for private requirements to have iron and steel
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available at much lower values than they can now be imported at. This would be encouraging a great local industry, with the advantage of keeping the money within the country, giving employment to a large number of men, and giving an impetus to our iron industry which at the present is recognized to be most necessary. Should, however, private enterprise not be attracted to the iron industry on the inducements I have stated, the Government will consider immediately the expediency of developing the iron resources of the Dominion as a State enterprise. FINANCE FOE WORKERS. Some amendments to the Advances to Workers Act will be submitted. The provision limiting an advance to a worker to the value of [his building will be abolished. To further assist the workers to provide homes for themselves, authority will be asked to increase the present amount authorized to be borrowed by £250,000 per annum, making £750,000 per year instead of £500,000 as at present. These alterations will further increase the usefulness of the measure. FARMERS' CO-OPERATIVE BANKS. It is desirable to enable small men or small associations of men to whom credit is not readily, if at all, accessible under our existing banking system to obtain it for productive purposes, or purposes insuring economy. This, in my opinion, can be done by the formation of farmers' associations of even comparatively small numbers. I propose to submit a scheme to enable this to be done. These will be incorporated and empowered to borrow money for purposes of loan to their members on such security as they think fit for productive purposes, l>ut repayment of the money so borrowed will be guaranteed under proper conditions by the State. This will enable it to be obtained at reasonable rates of interest from ordinary banks, and if not so available, then from other sources. Each member of the association will, subject to proper safeguards and conditions, be liable for the default of any one of their number. This last provision it is conceived will prevent waste or abuse of the system. The security for a loan to small farmers under such a scheme is not necessarily—as it is under present banking methods —the value of the property the small farmer can offer, but rather the industry, character, and skill of the farmer himself. Such a scheme provides for an expert test of the moral risk involved, in the personal knowledge the lending associations will have of the borrower, and for a watchfulness secured by a keen sense of collective responsibility of the capacity of the borrower to turn the loan to profitable account. Thus the qualifications of the small farmer for his business become in large measure the security on which he can borrow, and men with small or even no material security can obtain capital. Similar schemes have been found enormously beneficial by small farmers in several European countries. They have not only made capital available to struggling men, but greatly cheapened the rates at which it could be obtained. This, too, will tend to reduce any attempt at monopoly which might arise under our present banking system. In Germany 950 co-operative banks of one type alone keep about £100,000,000 steadily in circulation in credits in the country. Germany has indeed about twelve thousand of such banks in all, and by far the greatest number are employed in financing agriculture. I have every confidence in stating that as the result of close examination into the matter this can be done without risk to the Dominion or injury to our financial institutions. FINANCIAL ASSISTANCE TO FARMERS. The system of farmers' co-operative banks for certain specified purposes can be usefully employed by the family land settlements which I also propose to provide for. These settlements will be promoted on the following lines :— Lands now inaccessible, but well suited for settlement, will be acquired by the Crown. Of these there are considerable areas both with Native and European owners, as well as areas still Crown land. A scheme of public works will be submitted to provide communication to these areas by road or rail. Application for these lands will be called for. and (lie applicants may be of two kinds— (1) individual applicants ; (2) applicants as associated settlers. The latter will consist of not less than ten or more than twenty-five men, preferably married
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men or women with families. In neither of these two kinds of applications will there be allotment by ballot. A careful examination of the fitness of applicants will be made, and suitable areas allotted to them. Public works, consisting of roads or railways, will be promoted contemporaneously with these settlements, and where applicants are without the means necessary to enable them to carry on the work of bringing their farms into cultivation up to the reproductive point, such settlers will be offered work on the roads and railways for either a certain number of days a week or a certain number of weeks a month. By this means I anticipate that these settlers will be enabled to carry on until their farms are sufficiently productive to maintain their owners. Ample facility will be given, moreover, to these settlers to form farmers' co-operative banks, and so obtain capital to help the members of the associations. This proposal, by eliminating the ballot system, will remove much of the present discouragement in failure to draw an allotment, and will also check to some extent the traffic which has here and there arisen in selections under our Land Act. I intend this system to be applied to private lands voluntarily or compulsorily acquired from present owners, both Native and European, and also to large areas of Crown lands. It aims at promoting the dual purpose of public-works development and closer settlement. In order that these associated settlements may be made more attractive to settlers with young children a rural telephone system, connecting the settlers with a centre from which medical aid and other urgent needs may be obtained, will be supplied by the Government. STATE NOTE-ISSUE. I propose to ask the House to change the system of issuing bank-notes. These will in future, after reasonable notice is given, be issued by the Government, as is done in Canada and other places. It must be understood that this is not in any way a recognition of paper money in lieu of the present methods of currency and exchange. The proposal is to make a State monopoly of an operation hitherto carried out by private; institutions, and will be based upon the principles of the Canadian system, which have worked most satisfactorily for many years past. The value of the notes in circulation in New Zealand is about A'l,600,000. The tax on this is 8 per cent. This will, of course, be lost by the Dominion, but the State will gain in other ways. The banks will pay gold to the Treasury for the notes, and the State will not have to pay interest on moneys so received. The Treasury must keep a full reserve in gold coin to ensure stability of the notes issued. I will submit fuller details when submitting legislation. In case of loss or destruction of the notes, the Dominion will, of course, benefit. There are sound reasons for and against the change, but on the whole I am convinced that it is in the interests of the country that the issue of notes should be a function of the State. This can be done with much advantage to the people, and without injury or dislocation to the business of the banking institutions of the Dominion. KEDUCTIONS AND INCREASES. Owing to a heavy shrinkage of revenue in 1909, I asked the House to adjust the railway rates for long distances, and I think, in view of the satisfactory position of our revenue, these mayjiow be readjusted, and I propose to do so partly to the public and partly to the railway employees. With a view to facilitating and encouraging long-distance travel, I.propose to reduce the fares for all distances over 200 miles. The present rates are l$d. per mile for first class and Id. per mile for second class, irrespective of distance. Under the proposal I am submitting the rate per mile for all distances over 200 miles will be ljd. per mile first class and |d. per mile second class. The value of this concession on the basis of the existing traffic will be £50,000. The whole of the long-distance second-class carriages are being converted from the present longitudinal seats to reversible chair-seats, and this will greatly add to the comfort of the larger section of the travelling public. Proposals will also be submitted to the House for amendments to the Schedule to the Government llailways Act. This will provide for increases of
8.-6
pay to certain sections of railway workers (permanent and casual), and involve an expenditure of about £60,000 over and above the amount required to provide for the scale-increases accruing under the Act in the ordinary course. These scale-increases approximate £85,000, and, taken in conjunction with the amount stated above, the gross increase will be £95,000. The alteration in respect to casuals will be in the direction of a minimum payment at the rate of Is. 1 Id. per hour, equivalent to 9s. per day of eight hours. In keeping within the recent general improvement of pay in the Post and Telegraph Department, it is proposed to increase the minimum wage of daywages men from Is. to Is. I .Id. per hour, equal to 9s. per day for eight hours. REMISSIONS OF TAXATION AND CONCESSIONS IN CHARGES. It will be interesting to note what has been given by way of reduction in taxation and of concessions in the public service by the Government since 1891. In Customs the savings to the people during that period, and the loss of revenue to the Government, amount to the sum of £6,322,048. During the time 1 have had the honour of being head of the present Government the reduction in taxation upon the Customs amounted to the sum of £] ,764,070, and the increases to £360,523. I )educting this from the amount of the reductions, it will be seen that the net saving to the people by reductions of Customs amounts to the large sum of £1,403,547, which amount lias been saved to the people during my term of office as Prime Minister. Articles required for the breakfast-table, including coffee, cream of tartar, dried fruits, mustard, rice, salt, spices, and sugar, all of which were dutiable, have been placed entirely on the free list. Concessions in fares and freights of the Railway 1 )epartment to the amount of £1,150,000 have been granted, and out of this sum the agriculturists and pastoralists have benefited to the extent of £650,000. There has been no increase of rates, excepting for long-distance travel, and this I have already dealt with. In addition to the reductions referred to in these two important Departments, there have been concessions made to the public in the Postal and Telegraph Department to the amount of £378,745 per annum. The total reductions to the public in the three directions named during the period to which 1 have just referred amount to €6,850,793, so that those who are criticizing the Government in connection with its taxation sho-uld, in order to be fair, not overlook the enormous reductions that have been made. The amounts stated above have been carefully compiled by each of the Departments concerned, and can be relied upon as correct. I attach detailed returns of same to the Statement, which will well repay perusal of all who take an interest in the well-being of their fellow-men. I desire to further point out that during the same period the increases of pay and concession in hours of the Railway Department amounted to i'870,000, while in the other branches of the public service the annual increment of salaries during the period I have been head of the Government amounts to £348,530, so that I am fairly entitled to say that the public service has not been overlooked. LAND-SUBDIVISION AND TAXATION OF LARGE ESTATES. During the past five years, since I have been the head of the Government, the number of persons who selected Crown lands amounted to 8,300, and the area taken up by these settlers aggregates 2,692,200 acres. I am excluding from these figures all those who selected pastoral lands, and leases for short or temporary periods. They, however, include the selections of areas in estates purchased under the Land for Settlements Acts. Under these latter Acts the figures are 1,500 selectors placed upon 442,200 acres. The amount expended during the same period in purchasing and subdividing fifty estates for closer settlement was £1,646,000, and the area acquired was 266,872 acres. Notwithstanding the substantial progress which has been made in the subdivision and close settlement of the largest estates in the Dominion, the pace
XXXI
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XXXII
demands acceleration, and I think this can be best effected by an increase in the graduated land-tax on all estates where unimproved value exceeds 1 , 100,000. I propose, therefore, to increase the rates found in the present graduated scale on such estates by 25 per cent., and in order to allow owners reasonable time to cut up their estates themselves,to give them throe years before putting the increase into operation. TRADE OF THE DOMINION. Despite the fact that last year was a record one on the export trade of the Dominion, the year ending on the 31st March last showed an increase of j£52,091 in value over the previous one, the actual figures being—l 9] 1, £21,543,900; 1910, £21,491,809. The imports for the year were valued at £17,713,183, an increase of J82,859,604 over the previous year. The present prospects give me every reason to believe that this general improvement will be continued, and that the producers of the country and our traders may look forward with confidence to a steadily and surely growing progress in the trade of the Dominion. FUTURE BORROWING. As T pointed out during last session, the end of our public-works scheme, is now in sight. The main arterial systems of railways will not take many years to complete, and the cost of this and the future main roads of the Dominion can now be approximately ascertained. The whole should be completed within a period of fifteen or twenty years. There will be no importani departure from the plan as now laid down. The only question to be considered is this : Are the works to be completed out of revenue or by loans, or partly by one and partly by the other method ? Finished these necessary works must be. To discontinue them would be inconceivable folly. They are necessary for our development, and will go on. It would, in my opinion, be wrong to throw the whole burden of constructing them on the present generation. We will hand them on to our descendants, and some of the cost should be borne by them. The most businesslike method is to spread the cost over two or three generations, the moneys required to be borrowed for finishing them being repaid by the sinking fund now established. This is fair to us and those who will succeed us. We must remember that our great neighbour Australia is about to enter upon a vigorous policy of railway-construction and the carrying-out of other great public works involving the spending by its different States and the Commonwealth Government of perhaps thirty millions within the next ten years. If our works policy were slackened, it would mean the loss of many thousands of our best workers. To allow this while our own public works are so necessary in order to round off our system of intercommunication amongst our scattered communities would be national imbecility. The policy of the Government in this will be to borrow sufficient to push on as quickly as circumstances will permit the railways, roads, and other public works that are most urgently required, supplementing the loan-moneys each year by as much as can be transferred from the Consolidated Fund. A full statement will be made later as to the particular railways, roads, and other works now remaining to be constructed, and the estimated cost and the time required for completion of eacli. It would, in my opinion, be a good plan to have the question of what are necessary railways in each Island once and for all determined by a Commission of members and experts, and that only such works should be completed with borrowed moneys. Any further sums required in excess of a certain amount per annum should be found out of revenue. This method would give a finality to our scheme of railway-construction, and it is desirable from man) 7 points of view. By such a course the country would know what was necessary over a period of years, and an amount could then be devoted annually to this purpose. I wish to state emphatically that the Government will carry on a vigorous policy of railway-construction, recognizing as I do that they are reproductive, and that it is of the most vital importance to our settlers and our business
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XXXIII
people that the fullest possible facilities should be given for carrying on the work of those settled on our lands, and those intending to settle, are essentials to their successful existence, and that nothing helps to develop business more than transit facilities, and railways will, consistent with the amount of money that can be devoted to them yearly, be pushed on as rapidly as possible. FINANCE FOR 1911-12. There is every reason to hope that the year we are now in will be a good one. Prices for our staple products are on a satisfactory scale, and trade throughout the Dominion is active. There are comparatively few out of employment. From time to time fluctuations in the labour-market occur in all countries, and we may not unreasonably congratulate ourselves upon being comparatively free here. I therefore look forward hopefully to a successful year, and I am justified in anticipating that there should be a substantial surplus at the end of March next. EXPENDITUBE. The progress and prosperity of the country has made such strides that it is only natural with the increasing demand for further facilities in railways and postal services, education, and the establishment of universal training, that an increased expenditure of public moneys will be required. This I estimate at £10,136,566, an increase of £793,461 over that of last year. The increases will be as follows: Permanent charges, £227,741 ; departmental, £565,720. The permanent charges as the business of the country deve'ops and fresh railways, roads, &c, are provided must increase, but side by side with it the revenue has increased still more. The interest on each sum borrowed is, of course, a permanent increase. The principal increase is for- — Interest.. .. .. .. .. .. £205,104 Departmental expenditure will reach £6,265,975 being £565,720 in excess of that for 1910-11. The principal increases are, — £ Railways .. .. .. .. .. 104,187 Education . . .. .. .. .. 93,150 Defence.. .. .. .. .. .. 171,635 It should be noted that the large increases in these Departments are what must be expected. As the Dominion grows so will i,the expenditure for education, railways, and postal services. IiEVENUE. I estimate the revenue for 1911-12 to be £10,429,010, being £131,987 more than that for last year. I estimate the Railway revenue at £3,525,000; Customs at £3,000,000; Stamps, £860,000; Post and Telegraph revenue, £1,095,0C0 ; land-tax, £635,000; income-tax, £410,000; beer duty, £115,000; registration and ether fecn, £104,345; Marine, £45,C00; miscellaneous, £338,150; territorial revenue, £238,550: and endowment revenue, £62,365. The forecast may be summarized thus :— £ Balance from last year ... .. .. .. 586,483 Estimated revenue for 1911-12 .. . . .. 10,429,010 Total .. .. .. .. ..[11,015,493 From this, if the estimated expenditure is taken .. 10,136,566 There will be left a surplus of .. .. .. £878,927 Of course, from this will have to be taken the amount to be voted on the supplementary estimates and amount to be transferred to the Public Works Fund.
v—B. 6.
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XXXIV
LOAN FOB PUBLIC-WORKS PURPOSES. The works which should be gone on with during the next twelve months will require so much money that an additional loan will be necessary. The balance in the Public Works Fund on the 31st March last was £1,140,045. This will be strengthened by transferring £500,000 to it from the Consolidated Fund. As stated, however, this will not suffice for the prosecution of the urgently required works which must be vigorously pushed on, and I therefore propose to ask Parliament to authorize a loan of £1,500,0C0 for construction of railways, roads, bridges, and addition to open lines, and other public works. SUMMARY. T focus what is now proposed:— Remissions in railway fares, Assistance to widows, liailway emplo3'ees, Additional funds for workers' homes, Remissions in gift and estate duties, State assistance to iron and oil industry, Advantages to old-age pensioners, Government aid to farmers through co-operative banks, State note-issue, Electrification of Lyttelton Tunnel, Harnessing and utilization of Lake Waikaremoana, Purchase and settlement of Native lands, Irrigation, Prosecution of roads, Development of mining, .National provident encouragement, Public service classification, Defence on practical basis, Land for settlers under the Land Settlement Finance Act, Insurance against unemployment, Cheapening cost of living, Financial assistance to associations of farmers, Increases in salaries of the public service on supplementary estimates, Increase graduated land-tax on large estates, Land-settlement, Acquisition of private estates, Progressive railway, roads, and public-works policy, Advances to settlers, workers, and local public bodies, Promotion of agriculture throughout Dominion, Establishment of State farm in South Island, Maintaining stability of the Dominion's finance. CONCLUSION. I have now about finished my task. I sum up by pointing out that a strong financial position exists in the country. There is an abundant supply of money. The Dominion generally is very prosperous. The development of the country requires as much attention now as it has done for years past. Ways and means to enable the prosecution of our public works to be carried on vigorously but prudently are suggested, and these will be shown in detail by my colleague at an early date in the Public Works Statement. As railways, roads, bridges, and telephones are required in various parts of the country, it is obvious that until these are reasonably provided for our people further loan-money is necessary. So long as it is spent in reproductive works, which the great bulk of it is, there is no valid ground for fear. No one can deny that the money advanced to
B. 6
our settlers, workers, local public bodies, and tor the purchase of land for settlement is of great value to those for whom it is obtained. If the country is satisfied, and I feel sure, it is, that this policy is a good one to prosecute, then I ask, with confidence, that the proposals 1 have now the honour to submit may be agreed to. In that case Tarn confident that by carrying them out with courage and determination the prosperity of the Dominion will continue to increase on broad and solid lines. Such a policy, aided by the individual efforts of the people, will command success and demonstrate to our descendants the wise and strong faith we have in the future of New Zealand, ;i country that has already accomplished much and is destined by Providence to become a conspicuous star in the constellation of States that form tbe British Empire.
XXXV
8.—6
TABLES TO ACCOMPANY THE FOREGOING STATEMENT. Page Tablk No. I.—Abstract of Receipts and Expenditure of thk Financial Yi:wt ended :11st March, 1911 2 Table No. 2.—Comparative Statement of the Estimated and Actual Receipts and Expenditure of the Consolidated Fund for the Financial Year ended 31st March. 1911 .. ..31 Table No. 3. —The Public Debt on 31st .March. 1911 .. .. .. .. .. ..32 Table No. 4.—The Debt transferred to the New Zealand State-guaranteed Advances Office at 31st March, 1911 .. .. .. .. .. .. .. .. 3H Table No. 5. —Statement of the Estimated Liabilities of the Consolidated Fund outstanding on 31st March from 1901 to 1911 inclusive .. .. .. .. .. 38 Table No. <i.—Statement of the Estimated Liabilities of the Public Works Fund outstanding on 31st March from 1901 to 1911 inclusive .. ■ .. .. .. .. ..39 Table No. 7.—Statement showing the Total Ways and Means of the Public Works Fund and the Total Net Expenditure to 31st March, 1911 .. .. .. .. ..40 Table No. B.—Estimated Expenditure of 1911-12 compared with the Actual Expenditure of 1910-11 41 Table No. 9.—Estimated Revenue of 1911-12 compared with the Actual Revenue of 1910-11 .. 41 Table No. 10. —Statement showing the Amount charged to " Unauthorized " in each Financial Year from Ist July, 1875, to 31st March. 1911 .. .. .. .. ..42
I—B. 6.
8.—6
2
Table No. 1.
19O9-191O. RECEIPTS. 191O-1911. £ a. d. Balance at beginning of Year, — 387,163 1 6 Cash in the Public Account Advances in the hands of Officers of the Government 42,287 4 0 In the Dominion 17 11 9 j On account of Imperial Pensions .. 4,853 2 2 On account of other Governments ! 434,320 19 5 i 250,000 0 0 Less Treasury Bills outstanding 184,320 19 5 £ s. d. £ s. d. 491,437 i 6 35,441 7 0 510 9 8 4,926 16 9 532,315 17 10 100,000 0 0 ; 1 432,315 17 10 432,315 17 10 . Ordinary Revenue, — 2,671,120 12 8 Customs .. 1 <Ufi Rifi 10 l ' Stamps (Stamp Department) 1,34b,81b U 1 - stamps (p osta i Department) 190,535 8 1 Postal and Telegraph Cash Receipts.. 642,270 111 Land-tax.. 316,835 3 11 Income-tax 115,368 11 4 Beer Duty 3,258,262 11 5 Railways" 88,304 14 7 Registration and other Fees 42,918 9 7 Marine .. 296,099 1 10 j Miscellaneous 8,968,531 14 5 .. 3,027,828 19 9 819,838 18 11 816,306 0 11 211,260 G 10 628,723 1 5 407,235 1 7 118,100 2 11 .. 3,483,754 19 5 100,026 6 0 45,932 8 11 327,123 0 0 9,986,129 6 8 Territorial Revenue, — 34,516 3 0 Cash Land Sales .. 895 15 3 Deferred-payment Land Sales 167,175 10 0 Pastoral Runs. Rents, and Miscellaneous 63,895 1 2 1,179 12 10 189,957 12 0 , 255,082 (i o 202,587 8 3 67,142 1 11 National Endowment Revenue 55,861 12 2 1 !lO,297,O23 4 10 9,238,261 4 7 Debentures renewed, — New Zealand Loans Act, 1908 — Defence and other Purposes Loan Act, 1870 — Debentures matured 1st July, 1910 25,000 0 0 The Dairy Industry Act, 1908,— Debentures matured let January, 1911 843 0 0 Recoveries on account of Expenditure of previous Years,— Repayment of Reticulation Loan by Christchurch City Council 1 13 9 Unauthorized .. .. .. .. .. 654 5 5 The Civil Service Act, 1866 655 19 2 250 0 0 250 0 0 ! i (£9,423.238 3 2 Totals £10,755,432 2 8, r<^
8.—6.
STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1911, compared with the Financial Year ended 31st March, 1910. ORDINARY REVENUE FUND ACCOUNT.
3
19O9-191O. EXPENDITURE. 191O-1911. fi 8. d. £ 3. d £ s. d. Permanent Appropriations,— 33,729 14 8 CivilList.. .. .. .. .. .. .. .. .. 34,878 i 8 2,307,46110 7 Interest and Sinking Fund.. .. .. .. .. .. .. 2,458,452 4 8 452,491 1 6 Under Special Acts of the Legislature .. .. .. .. .. 482,118 7 4 94,207 18 1 Subsidies paid to Local Bodies .. .. .. .. .. .. 108,016 11 6 Amounts paid over to Local Bodies and to Deposit Accounts— 29,657 11 6 Payments under the Land Acts .. .. .. .. .. .. 32,993 'J 7 6,741 19 8 Payments under the Timber and Flax Royalties Act .. .. .. 7,403 16 3 Endowments— 3,399 16 0 New Plymouth Harbour Board .. .. .. .. .. .. 4,587 18 8 21,509 0 1 Greymouth Harbour Board .. .. .. .. .. .. 25,040 8 7 66,015 (i 6 Westport Harbour Board .. .. .. .. .. .. 67,969 8 0 07,14-2 1 11 National Endowment Residue .. .. .. .. .. .. 55,861 12 2 342,053 8 6 Old-age Pensions .. .. .. .. .. .. .. .. 366.033 1 5 , 8,643,849 17 lo 3,514,409 3 8 Annual Appropriations,— 28,633 L8 H Class I.—Legislative Departments .. . .. .. .. 37,610 16 8 36,772 15 2 . II.—Department of Finance .. .. ■.. .. .. 48,023 9 1 855,861 11 4 . III.—Post and Telegraph Department .. .. .. .. 911,819 8 4 2,168,188 19 9 . IV.—Working Railways Department.. .. .. .. .. 2,270,813 10 1 86,728 19 2 » V.—Public Buildings', Domains, and Maintenance of Roads .. .. 81,103 8 9 18,874 9 2 . VI.— Native Department .. .. .. .. .. .. 21,661 .8 8 365,920 1 1 . VII.-Justice Department .. .. .. .. .. .. 370,18110 1 24,704 6 8 ,. VIII.—Mines Department .. .. .. .. .. .. 22,456 14 10 256,466 5 0 ., IX.—Department of Internal Affaire.. .. .. .. .. 262,141 14 4 194,050 1 2 „ X.—Defence Department .. .. .. .. .. .. 212,938 11 6 , XL —Customs, Marine and Harbours, and Inspection of Machinery Depait122,782 1 2 ments .. .. .. .. .. .. .. 114,736 9 11 24,212 8 10 , XII.-Department of Labour .. .. .. .. .. 22,725 3 4 233,743 5 4 „ XIII.—Department of Lands and Survey .. .. .. ..' 206,660 9 9 189,913 15 7, . XIV.—Department of Agriculture, Commerce, and Tourists .. .. 184,578 14 6 859,242 8 5! „ XV.—Education Department .. .. .. .. .. 924,777 7 11 10,418 1 7 Services not provided for .. .. .. .. .. .. .. 8,027 9 4 ' 5,700,256 0 8 5,476,513 1 8 Revenue transferred to the Public Works Fund .. .. .. .. .. 800,000 0 0 Debentures renewed, — New Zealand Loans Act, 1908— Defence and other Purposes Loan Act, 187(1 Debentures matured let July, 1910 .. .. .. .. .. .. 25,000 0 0 • The Dairy Induetry Act, 1908,— Debentures matured let January, 1911 .. .. .. .. .. .. 843 0 0 • ■ Balance at end of Year, — 491,437 4 5 Cash in the Public Account .. .. .. .. .. .. 564,20] 9 0 Advances in the hands of Officers of the Government — 35,441 7 0 In the Dominion .. .. .. .. .. .. .. 17,921 0 0 510 9 8 On account of Imperial Pensions .. .. .. .. .. .. 107 12 5 4,926 16 9 On aocount of other Governments .. .. .. .. .. 4,253 2 9 532,315 17 10 586,483 4 2 100,000 0 0 Less Treasury Bills outstanding 432,315 17 10 £9,423,238 3 2 Totals .. .. .. .. .. .. .. £10.755,432 2 8
4
8.—6
Table No. 1—continued.
19O9-191O. RECEIPTS. 19O9-191O. RECEIPTS. 1910-1911. £ s. d. 250,000 0 0 Treasury Bills outstanding at beginning of Year £ e. d. £ s. d. 100,000 0 0J 700,000 0 0 Treasury Bills issued during Year 200,000 0 0 Treasury Bills renewed during Year .. .. .. .. 783,000 0 0 333,000 0 0 1,116,000 0 0 900,000 0 0 £1,150,000 0 0 Totals £1,216,000 0 0 £1,216,000 0 0 STATE FORESTS £ s. d. Balance at beginning of Year,— 14,346 16 7 Cash in the Public Account Advances in hands of Officers of the Government189 17 0 In the Dominion 14,530 13 7 £ s. d. £ s. d. 16,921 7 7 853 15 10 [ 17,775 3 6 2,53>! 5 0 Kents from Lands set apart .. 12,892 5 4 Miscellaneous 15,425 10 i 3,099 15 4 11,771 I 14,870 1!) 7 Contribution from the Consolidated Fund towards cost of forest-tree growing and 10,000 0 0 planting .. 5,000 0 0 £39,962 3 11 Totals £37,646 3 0-i _ £87,646 8 0 __^_^^_^^___ »- STATE COAL- £ s. d. Balance at beginning of Year, — 17,950 8 11 Cnsh in the Public Account Advances in the hands of Officers of the Government— 9,070 19 1 In the Dominion 27,021 8 0 £ s. d. £ b. a. 54,348 5 5 7,210 15 2 61,559 0 7 241,883 9 7 Proceeds of Sale of Coal 226,864 13 3 The Coal-mines Act, 1908,— 30,000 0 0 Debentures issued The Appropriation Acts, 1909 and 1910, section 22,— Amount transferred in respect of interest on the oost of construction of the 1,896 0 0 Greymouth and Point Elizabeth Railway .. 24,989 15 0 Amount transferred in respect of the oost of construction of the said railway .. I ,869 16 1 1,362 16 1 26,885 15 0 £325,790 12 7 Totals £325,790 12 7 £325,790 12 7 Totals £289,786 11 11 £289,786 9 11 SCENERY PRESERVATION £ f. d. Balance at beginning o£ Year, — 2,370 13 10 Cash in the Publio Account Advances in the hands of Officers of the Government— 57 15 11 In the Dominion 2,428 9 9 The Scenery Preservation Act, 1908,— 10,000 O 0 Debentures issued £ a. d. : £ s. d. .. ( 6,652 16 8 6,652 16 3 L £12,428 9 9 Totals £6,652 16 3 j . -J £6,652 16 3 ™^^^™^^^^^"™: : ' —)
5
8.—.6
STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1911, compared with the Financial Year ended 31st March, 1910—continued. TREASURY BILLS ACCOUNT.
19O9-191O. EXPENDITURE. 191O-1911. £ s. a. 200,000 0 0 Treasury Bills renewed during Year .. 850,000 0 0 Treasury Bills paid off during Year £ s. d. £ s. d. 333,000 0 0 883,000 0 0 1,216,000 0 0 1,050,000 0 0 ■ 100,000 0 0 Treasury Bills outstanding at end of Year £1,150,000 0 0 Totals .. £1,210,000 0 0 ACCOUNT. ACCOUNT. ■ £. s. d. £ s. d. £ s. d. £ s. d. Annual Appropriation,— 22,187 0 6 Vote 12*0—S'tate Forests Branch -3,446 3 10 23,446 3 10 ♦ Balance at end of Year, — 16,921 7 7 Cash in the Public Account Advances in the hands of Officers of the Government— 853 15 10 In the Dominion 14,116 3 8 83 15 11 14 1QO, 1Q Q 17,775 8 5 i4,iyy iy u 14,199 19 2 £39,962 3 11 Totals £37,646 3 0 ; £37,646 3 0 MINES ACCOUNT. £ s. d. Annual Appropriation,— 260,550 7 1 Vote 121—State Coal-mines % £ s. d. £ s. d. 257,667 16 1 3,681 4 8 Interest on Debentures 4,550 0 0 Balance at end of Year, — 54,348 5 5 Cash in the Public Account Advances in the hands of Officers of the Government— 7,210 15 2 In the Dominion 27,302 12 2 266 1 8 fti K*CQ n 7 27,568 13 10 61,559 0 7 61,559 0 7 £325,790 12 7 Totals £325,790 12 7 £289,786 9 11 £289,786 9 11 ACCOUNT. ACCOUNT. £ s. d. Annual Appropriation,— 5,775 13 6 Vote 122—Scenery Preservation £ s. d. £ h. d. 3,730 16 5 » Balance at end of Year, — 6,652 16 3 ! Cash in the Publio Acoount £12,428 9 9 Totals 2,921 19 10 £6,652 16 3 £6,652 16 3 i • ——-——_—._■_—__ —\ i i I
8.—6
6
Table No. 1—continued.
19O9-191O. RECEIPTS. 191O-1911. £ s. d. The New Zealand Loans Act, 1908,— Naval Defence Act, 1909— Advances on the security of Debentures issued under the Act Instalments received in respect of £1,250,000 Loan authorized £ s. d. £ b. d. 342,000 0 0 1,120,250 0 0 _^^_^_^_ 1,462,250 0 0 .. •• Total £1,462,250 0 0 ACCOUNTS OF £ s. d. Balance at beginning of Year, — Dr. 979 0 1 Cash in the Public Account Advances in the hands of Officers of the Government— 18 2 In the Dominion £ s. d. £ a. d. Dr. 4,708 18 9 18 6 0 Dr. 977 11 11 Dr. 4,690 12 'J Revenue received for Local Bodies,— 9,861 1 7 Fees, Fines, &c. .. 18,840 15 2 Endowments of Land, &e... 17,636 15 5' Goldfields Revenue 29,806 17 8 Gold Duty 10,072 10 7 21,074 3 8 18,047 4 2 27,967 4 8 76,145 9 10 77,161 3 1 Counties Separate Account, — 129 6 8 ' Revenue of Counties in which the Counties Act, 1908, is not in full operation .. 139 9 5 Advance Accounts, — 20,148 10 1 Amount repaid by Local Bodiet 68 16 5 Ditto on account of Unauthorized Expenditure of previous years 20,217 6 0 £95,514 11 1 Totals 28,299 8 6 73 13 8 28,372 17 1 £100,982 16 10 £ s. d. Balance at beginning of Year, — 191,601 12 5 Cash in the Public Account Advances in the hands of Officers of the Government — 1,212 11 2 In the Dominion j 192,814 3 7 DEPOSIT £ s. d. 196,816 11 1 £ s. d. 14 0 0 196,830 11 1 Lodgments,— 11,659 10 0 Emigrants'Deposits 8 17 7 Fisheries Act, 1908 145 0 0 General Assembly Library .. 2 14 2 Hospitals and Charitable Institutions Acts, 1908 94 9 7 Imperial Government (South Africa Contingents) Land Act, 1908— 1,531 11 2 Mining Districts Land Occupation Account 129,682 17 11 National Endowments 505,355 0 8 Miscellaneous .. 154,471 5 6 Money-order Settlement Account 35 12 6 Nelson Rifle Prize Fund .. 0 15 6 New Zealand University Endowments, Taianaki New Zealand University Endowments, Westland 234 5 0 North Island Experimental Dairy School North Island Main Trunk Railway Loan Application Act 1886 Amendment Act, 20,481 17 3 1889 .. Otago University Reserves Act, 1904 24,280 12 4 Permanent-way Material Account .. .13,172 9 4 Public Trust Office Remittance Account 1,278 0 0 Railways 150 15 8 Rates on Workers' Dwellings 55 5 5 Tauranga Educational Endowment Reserves Act, 1896 230 2 6 Thermal Springs Districts Act, 1908 980 4 8 Trustee Act, 1908 2,186 13 1 Westport Harbour Board Act, 1884, Speoial Coal Rate Account 866.043 19 fi 10,327 4 3 10 4 7 125 0 0 ■ 1* 8 9 1,565 17 0 90,315 3 1 153,961 5 4 38 0 0 210 4 6 2 18 4 197 5 0 24,288 2 4 256 7 5 21,071 3 11 978 0 0 184 6 1 253 15 9 48 14 2 1,998 4 7 305,841 5 1 866,043 19 5 1,058,858 3 0 Totals £1,058,858 3 0 £502,671 16 2
8.-6.
STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1911, compared with the Financial Year ended 31st March, 1910—continued. NAVAL DEFENCE ACT ACCOUNT.
7
19O9-191O. EXPENDITURE. 191O-1911. 191O-1911. £ e. d. t s. d. £ s. d. Expenditure under the Act .. .. .. .. .. .. .. ., 489,289 0 0 The Naval Defence Act, 1909,— Temporary Advanoes repaid .. .. .. .. .. .. .. 342,000 0 0 : Ttie New Zealand Loans Act, 1908,— Charges and Expenses .. .. .. .. .. .. .. .. 431 .[ 9 Balance at end o£ Year, Cash in the Public Account .. .. .. .. .. .. 309,818 16 3 Advances in the hands of Officers of the Government— In London .. .. .. .. .. .. .. .. 70,711 0 0 Investment Account .. .. .. .. .. . .. 250,000 0 0 630,529 16 3 •_• Total .. .. .. .. .. .. .. £1,462,250 0 0 LOCAL BODIES. LOCAL BOI £ s. d. Revenue paid over to Local Bodies,— £ p. d. £ s d 9,866 J!) 0 Pees, Pines, &c. .. .. .. .. .. .. .. .. 9,438 6 8 17,689 19 5 Endowments of Land, &o. .. .. .. .. .. .. .. 21*607 13 11 18,695 1 1 Goldfields Revenue .. .. .. .. .. . .. 18 048 14 3 30,208 12 0 Gold Duty 26,694 10 11 £ s. d. 9,866 19 0 17,689 19 5 18,695 1 1 30,208 12 0 76.460 11 f> 75,789 5 4 76,460 11 6 IO,<fcOU II O Counties Separate Account, — Amount distributed amongst Local BodieR where the Counties Act, 1908, is 140 16 11 not in full operation .. .. .. .. .. .. .. .. 132 19 8 140 16 11 Advance Accounts, — 20,303 15 5 Payments on behalf of Local Bodies .. .. .. ,. .. 28,067 0 6 3,300 0 0, Payments on behalf of Local Bodies, unauthorized .. .. .. .. .. 20,303 15 5 3,300 0 0 ,« K 28-0e7 0 6 HB,OUB 10 t> 23,603 15 5 Dr. 4,708 18 9 I 18 6 0 Br. 4,690 12 '9 Ralance at end of Year,— Dr. 4,708 18 9 I Cash in the Public Account .. .. .. .. .. .. Dr. 8,079 16 0 Advances in hands of Officers of the Government18 6 0 In the Dominion .. .. .. .. .. . 78 7 4 Dr. 4,690 12 "9" Dl ' 8 '°° 6 8 8 _ £95.514 11 1 Totals .. £100,982 16 10 £95,514 11 1 ACCOUNTS. £ s. d. Withdrawals, — n j p ■, 14,839 10 0; Emigrants'Deposits 10 096 4 3 Fisheries Act, 1008 .. .. .. .. .. .. 22 16 3 f>0 0 0 General Assembly Library .. .. .. .. \ . \\ 270 0 0 10 6 2 Hospitals and Charitable Institutions Acts, 1908 Imperial Government (South Africa Contingents) .. 7 f) (1 Land Act, 190810R t$ 5 , m ,n Mining Districts Land Occupation Account 865 13 8 19b,824 19 10 ! National Endowments .. 973 4 2 Maori Land Settlement Act, 1905 .... l<57 1 q 488,551 3 0: Miscellaneous " " 112 413 4 8 142,557 1 6: Money-order Settlement Account .. .. .. 161 '745 7 10 67 11 2 Nelson Rifle Prize Fund .. '.[ 56 5 0 Now Zealand University Endowments—Taranaki .. .. .. .. 203 15 6 North Island Main Trunk Railway Loan Application Act 1886 Amendment Act, 1,008 18 0 1889 .. .. .. .. .. .. .. .. .. 10,000 5 6 North Island Experimental Dairy School .... . 5 10 0 11,424 7 6 Public Trust Office Remittance Account .. 21905 11 9 4,214 12 8 Railways \ 2 6 Tauranga Educational Endowment Reserves Act, 1896 .. .. .. 500 0 0 7 17 10 Thermal-springs Districts Act, 1908.. .. 18 R 2 062 18 7 Trustee Act, 1908 .. .. .. .. " .. .. ." 930 4 _ 862,027 11 11 ■ ! 322 ' 500 U 6 Balance at end of _ear, — e 196,816 11 1 Cash in the Public Account .. .. .. .. .. 180,108 8 5 Advances in the hands of Officers of the Government 14 ° ° In the Dominion .. .. .. ,, ., 62 16 8 196,830 11 1 " 1 1R0 ' 171 4 8 £1 ' 058 ' 858 3 _" Totals ..
8
8.—6
Table No. 1 continued.
19O9-191O. 19O9-191O. RECEIPTS. 191°19 11. « .. d. I * s - d - ___ , J" £ s. d. £ 9. d. 223,211 18 8 £ e. a. Balance at beginning of Year,— 223,21113 8 Cash in the Public Account .. .. •• •■ •• •• wi,i<u. '" Advances in the hands of Officers of the Government30,497 16 0 In the Dominion .. .. ■• • •• •• •■ ' ,w& 130,000 0 0 Investment Account .. .. . • •• •• •• ■■ JJ 30,497 16 0 130,000 0 0 383,709 9 8 383,709 9 8 312,366 6 1 The Aid to Public Works and Land Settlement Act, 1910,— Instalments received in recpect of £1,750,000 Loan authorised.. .. .. l,u68,350 0 0 Temporary advances on the security of Debentures issued .. .. ■• ISO,000 U 0 1,718,350 0 (I The Aio to Public Works and Land Settlement Act, 1909, - 500,000 0 0 Proceeds of Scrip and Debentures issued .. .. ■• •• •■ bUO.uou o 400,000 0 0 3$-per-cent. Stock created .. .. •■ ■■ •• ■• •• •• t>00,000 0 0 900,000 0 0 900,000 0 0 I The Finance Act, 1909,— Proceeds of Scrip and Debentures issued .. .. •• ■• .. u o Interest on overdue instalment .. .. • • • • • • ■ " ? ' 000,000 0 0 Temporary advance on the security of Debentures .. .. •• •• 1,250,002 3 7 ,000,000 0 0 ,000,000 0 0 I nnn.noo o o uuu,uou u u The New Zealand Loans Act, 1908,— . 3*-per-cent. Inscribed Stock creattd to cover expenses of raising £l,b50,000 Loan under the Aid to Public Works and Land Settlement Act, 1909, and the Finanoe Aot, 1909 •: 66 ' 390 ° ° 3J-per-cent. Inscribed Stock created to cover expenses of raising part £1.000,000 12,000 0 0 Loan authorized .. .. •• •• ■■ •• ••' " 66,890 0 0 12,000 0 0 12,000 0 0 12,000 0 0 Revenue transferred irom the Consolidated Fund in aid of Public Works 800,000 0 0 Recoveries on Account of Expenditure of Previous Years,— Muddy Terrace Sluicing Company—Reduction of mortgage under the Mining i ooo 0 0 Wes°tland Hospitals and Charitable Aid Board (quarter cost of Hokitika Hospital! 945 0 0 Amount advanced to Elsie Wallace pending completion of purchase of Kapiti No. 4 Blook, now refunded .. • • • • • • • • • • •? " " Aotea District Maori Land Board—Reduction of Ohutu mortgage .. .. suo u o Aotea District Maori Land Board—Survey liene on account of Wharetoto and Tauakira subdivisions .. .. •• ■• •• •■ ■■ 1 >"° l " ' Ikaroa District Maori Land Board—Reduction of Horowhenua mortgage .. o< •■> u Sale of traction-engine, &c, formerly in use on Marton - Te Awamutu railwayconstruction 6jl 16 2 I - 1,000 0 0 4,883 0 9 r\/\r\ f\ f\ 1,000 0 0 1,000 0 0 Special Receipts in connection with the Ellesmere and Forsyth Reclamation and 1,607 9 9 Akaroa Railway Trust Account 1,622 15 2 1,607 9 9 The New Zealand Loans Act, 1908,— The Aid to Public Works and Land Settlement Act, 1900— 200 000 (I 0 Debentures issued for redemption of Debentures matured 1st April, 1909 54300 0 0 Debentures issued for redemption of Debentures matured 1st May, 1909 95*300 0 0| Debentures matured 1st May, 1909, renewsd .. -- •• •• 200,000 0 0 54,300 0 0 95,300 0 0 •iAo e.etc\ fl C\ 349,600 O O 349,600 0 0 The Aid to Public Works and Land Settlement Aot, 1901— 45,000 0 0 I Debentures isbued for redemption of Debentures matured 1st April, 1909 .. 45,000 0 0 The Aid to Public Works and Land Settlement Act, 1903— •J,'2r, 0 0 Debentures issued for redimption of Debentures 25 o 0 Debentures matured 1st January, 1909, renewed .. .. .. • • • • 225 0 0 25 0 0 ■ * iv * ■ ■• fc« m - ** *■' "-" — —»- -_- T - — — V 250 0 0 250 0 0 The Aid to Public Works and Land Settlement Act, 1909,— 50 000 0 0 Debentures issued in respect of £1,250,000 Loan authorized .. .. 100 000 0 0 Debentures issued for redemption of Debentures matured 1st April, 1909 .. | jj 50,000 0 0 100,000 0 0 . » 150,000 0 O 150,000 0 0 The District Railwaye Purchasing Act 1885 Extension and Amendment Act, 1886,— 40 000 0 0 Debentures matured 1st July, 1909, renewed 40,000 0 0 ■ossaififi 19 s Totals £4,758,614 5 7 £2,883,166 19 5
9
8.-6
STATEMENT of the RECEIPTS and EXPENDITURE of the PUBLIC WORKS FUND for the Year ended 31st March, 1911, compared with the Financial Year ended 31st March, 1910.
2—B. 6.
19O9-191O. £ s. d. EXPENDITURE. 1910-1911. 191O-1911. 41,175 11 3 i 1,103,410 6 8 2,434 10 6 276,715 16 8 16,682 13 I 14,507 10 0 17,002 8 10 J . . . . |_ \~ ~ ~ , A £ s. d. £ .. ,1 Annual Appropriations,— Class XVI.—Public Works. Departmental ao too ]fi Q XVII.—Bailways .. .. .. .. ,, 1 104 070 17 10 ! XVIII.—Development of Water-power .. .. . • i Q20 h 2 XIX.—Irrigation and Water-supply .. r*562 8 1 ub ''?, Buildi "f s •• '■'■ '.'. 32S;612 11 10 i XXI.—Lighthouses, Harbour-works, and Harbour Defences .. 8 426 15 1 XXII.—Tourist and Health Resorts .. .. -r/gil J.9 6 XXIII.—Immigration .. .. .. . '[ ; 440 15 1 ; XXIV.—Construction, Maintenance, and iiupervision of Roads, Bridges, and other Public Works .. . . .. _ _' 254 163 5 I XXV.—Develooment of Goldfields ... Ws41 <! i AAVl.—Telegraph Extension .. .. :'- 111 867 13 XXVII.—Contingent Defence .. .. .. 6070 18 4 „ XXVIII.—Lands Improvement .. .. .. 11125 9 4 Vote, Customs „ Purchase of Native Lands Services not provided for .. .. . . 200 0 0 1,892,851 ) 11 338,762 9 11 18,597 14 3 123,421 17 1 4,977 0 3 4,475 3 1 233 3 1 30,566 10 11 207 13 4 ; 1,993,170 11 11 The Aid to Public Works and Land Settlement Act, 1910 — Temporary Advances repaid .. .. .. , ifl(J q q The Aid to Public Works and Land Settlement Act, 1909, Debentures matured 31st March, 1910, redeemed .. .. 500 000 0 0 The Finance Act, 1909,— Temporary Advances repaid .. .... l.OOO'.OOO 0 0 The New Zealand Loans Act, 1908,— The Aid to Public Works and Land Settlement Act, 1903 — Debentures matured 1st January, 1909. redeemed .. 25 0 n Debentures matured lbt February, 1909, redeemed .. .. 200 0 0 Debentures matured let January, 1909, renewed 25 0 0 25 0 0 - ... -■ "226 6 0 2,479 4 7 397 7 4 84 7 2 876 14 4 13,876 5 6 17 6 Charges and Expenses in respect of loans raised under, — Aid to Publio Works and Land Settlement Act, 1900 .. .. .. I 4 5 0 Aid to Public Works and L<nd Sertlement Act, 1901 Aid to Public Works and Land Setll-merit Act, 11)03 Aid to PuWic Works and Land Settlement Act, 1908 .... 2 5 6 Aid to Public Works and Land Sattlement Act, 1909 ... .. .. '21,024" 14 5 Finance Act, 1909.. .. .. .. .. 43801 10 2 New Zealand Loans Act, 1908 .. . .. .. _[ 0 u __ 66,366 14 1 17,715 6 5 The Ellesmere and Foreyth Railway Trust Account,Expenditure .. 150 0 0 The Rotoiti Validation Act, 1909, section 3, — Expenditure .. .. .. .. .. .. I 2j97ti ,, (| The Appropriation Act, 1910, section 27, — Subsidy granted to Woodville County Council, applied in reduction of £3,000 loan 1.000 0 0 200,000 0 0 54,300 0 0 95,300 0 0 The Aid to Public Works and Land Settlement Act, 1900— Debentures mature i 1st April, 1909, redeemed .. .. . . I Debentures matured 1st May, 1909, redeemed .. .. ; \ ,-] Debentures matured 1st May, 1909, renewed •'. i -~ i . . 349,600 0 0 ■ The Aid to Public Works and Land Settlement Act, 1901 Debentures matured 1st April, 1909, r. deemed ... Debentures matured 1st December, 1908, redeemed 45,000 0 0 300 0 0 45,300 0 0 100,000 0 0 The Aid to Publio Works and Land Settlement Act. 1908,— Debentures matured 1st April, 1909, redeemed 24,989 15 0 40,000 0 0 The District Railways Purobasing Act 1885 Extension and Amendment Act, 1886,— Debentures matured 1st July, 1909, renewed :. ... .." Transfer to State Coal-mines Account under seotion 22 of the Appropriation Act, 1909, in respect of the cost of construction of the Grejmouth and Point Elizabeth Railway Balance at end of Year,— : • ■-■: '•'■ Cash in the Public Account .. .. .. .. .. i 381,258 12 10 Advances in the hands of Officers of the Government— In the Dominion .. .. .. .. .. , i 8,786 13 9 Investment Account .. .. .. .. ., .. 0 0 — 1,140,045 6 7 304,741 1 11 7,625 4 2 1,140,045 6 7 312,366 6 1 ;£2,883,166 19 5 Totals .. .. .. .. .. .. .. '£4,753,614 5 7 £4,753,614 5 7
10
8.-O
Table No. 1 continued.
19O9-191O. RECEIPTS. 1910-1911. 6 b. d. * s - d - - »• '*■ Balance at beginning of Year, — 18,902 1 7 Cash in the Public Account .. .. .. .. .. •■ •• 12.210 3 9 I The Hutt Railway and Road Improvement Act, 1907.— &'2.590 0 0 Debentures iRsuod .. .. .. .. ■ •• •• . 8,110 0 0 The Hutt Railway and Road Improvement Act, 1910, — Debentures issued .. .. .. .. .. .. ■• 34,490 0 0 £71,492 1 7 Total* .. .. .. .. .. .. •• £39,810 5 9 £39,810 6 9 THE RAILWAYS £ s. d. Balance at beginning of Year,— i »■ d. £ B. d. 2-2,940 3 2 Cash in the Publio Account .. .. .. .. .. .. .. 18.197 11 0 The Government Railways Act. 1(K)8.1,600 i> 0 Scrip and Debentures issued .. .. .. .. .. . 3,800 0 0 Debentures issued for Redemption of Debentures .. .. .. .. 10,000 0 0 Debentures matured 30th June. 1910, renewed under the New Zealand Loans Act. 1908 .. .. .- .- .. • 1,000 (I 0 '_[ : 90,800 ii ii 1,600 0 0 ! The Finance Aot, 1909,— The Government Railways Aot, 1908— 74,900 0 0 Scrip and Debentures issued .. .. .. .. .. .. .. 100 0 0 The Government Railways Act Amendment Act, 1910,— Debentures iRsued .. .. .. .. .. .. .. .. ;>ii.yoit 0 0 £99,446 3 2 j Totals .. .. .. .. .. .. . £95,997 11 0 iSSSSSSSSSEta^^BMHi^Maa^ THE WAIHOU AND OHINEMURI £ B , a. £ s. d. : i s. a. : The Waihou and Ohinemuri Rivers Improvement Act, 1910, — Debentures issued .. .. .. ■• •• .... .. loo.ooo 0 0 ,, Total .. ...... .. .. .. £100,000 0 0 £100,000 0 0 STATEMENT of the RECEIPTS and EXPENDITURE of the CHEVIOT ESTATE ACCOUNT 4 id. Balance at beginning of Year,— & a. d. | £ s. d. 6,413 2 11 Cash in the Public Account .. .. .. .. .. 58,810 0 9 47 000 0 0 ! Investment Acoount __.__! i 58.810 0 9 i 53,413 '2 11 ! Receipts under the Land Aot, 1908, - 13.212 9 4 ! Rents from Landp .. .. .. .. .. .. .. 12.4HC 6 1 Other Receipts,— 1135 18 t Interest on Securities held by Investment Aooouut .. .. .. .. 366 17 0 * . : i £67,761 10 5 ' "" Totals .. .. .. .. .. .. .. £71,653 3 10 j STATEMENT of the RECEIPTS and EXPENDITURE of the NATIVE LAND .TIVE LAND j £ i. d. £ ! 9 . d. £ 6, d. I Amount received from the State-guaranteed Advances Office In terms o( section 94 of the New Zealand State-guaranteed Advances Act, 1909 .. .. .. I 181,600 0 0 Amount reoeived iu respeot o( Survey Liens •241 17 4 : i I ; Total _ i U81.841 17 4 i= 1
11
B.— 0.
STATEMENT of the RECEIPTS and EXPENDITURE of the PUBLIC WORKS FUND for the Year ended 31st March, 1911, compared with the Financial Year ended 31st March, 1910—continued. WELLINGTON-HUTT RAILWAY AND ROAD IMPROVEMENT ACCOUNT.
19O9-191O. EXPENDITURE. 191O-19U. £ s. <J. Annual Appropriation,— £ s. d. £. a. d. 59,281 IS 10 Vote 126—Hutt Railway and Road Improvement .. .. .. .. .. 34,996 1 0 Balance at end of Year,— l>2,210 5 '.» Oesh in the Publio Aocount .. .. .. .. .. .. .. 4,814 1 9 £71,492 1 7 Totals .. .. .. .. .. .. .. £39,810 5 9] £71,492 1 7 £39,810 5 9 IMPROVEMENTS ACCOUNT. £ s. d. Annual Appropriation,— t s. d. £ s. d. I HI,237 14 a Voto 126—Railway Improvement* .. .. ■■ •• ■■ .. .. 60,846 U> »3 ' The Government Railways Aot, 1908,Debentures matured 30th June, 1910, redeemed . .. . ■ 16,000 0 0 Debentures matured 30th June, 1910, renewed under the New Zealand Loans Aot, 1908 .. .. .. .. .. •• •• •• 1,500 0 0 . 17.n0<i 0 II The Finanoe Aot. 1909,The Government Railways Aot, 1908— 10 18 0 Charges and Expenses authorized by the New Zealand Loans Aot, 1908 .. ., .» I Balanoe at end of Year, — 18,197 11 0| Cash in the Public Aocount .. .. .. .. .. .. .. 18,146 3 -I £99,446 3 2 Total* .. .. . . .. .. .. .. £95,997 11 0 ■! I """ " \ RIVERS IMPROVEMENT ACCOUNT. t s. (i. Balance at end of Year, £ e. A. £ ». d. Canh in the Public Acoount .. .. .. .. .. .. .. 100,000 0 0 Total .. .. .. .. .. .. •• £100,000 0 0 : for the Year ended 31st Maboh, 1911, compared with the Financial Year ended 31et Makch, 1910. ' £ s. d. H ». d. 6 B. d. H,866 2 6 Interest paid in reepoct, of Debentures isMied .. .. .. .. .. 8,866 2 6 85 7 2 Surveys, Roading, &c. .. .. .. .. .. .. .. 15 5 S 8,«81 8 i 8,951 9 8 i : Balance at end of Year, - 58,810 (l 9 Cash in the Public Account .. .. .. .. .. •• •• 62,77115 8 ! £67,76110 5 Totals .. .. ' .. .. .. .. .. £71,653 3 10 SETTLEMENT ACCOUNT for the Year ended 31st Maboh, 1911. ' ' 1 ■" ' ~ : ~ ' i t b. d. Annual Appropriation,— £ 6. d. £ s. d. i Vote 136—Native land Purcbaee .. .. .. .. 123 10 6 ! Kxpenditure under the Aot .. .. .. .. .. .. .. .. 135.334 7 7 Payment lo the New Zealand State-guarau&eed Advances Office under section 96 of the New Zealand State-Ruarantecd Advances Act, 1909 — Interest .. .. .. .. .. .. .. .. 24o 'J 7 Sinking Fund .. .. .. .. .. .. .. .. 1,816 0 0 . 2,061 9 7 Balance at end of Year, — Cash in the Publio Aooount ,, .. .. .. .. .. 44,300 17 8 Advances in the hands of Officers of the Government— In the Dominion .. .. % . .. .. .. 21 12 0 j J 44,322 9 8 j Total .. •■ £181,841 17 i
12
8.-6
Table No. 1— continued.
19O9-191O. RECEIPTS. . -91O-1911. 19O9-191O. £ b. d. £ B. a. £ s. d. I £ b. d. Balance at beginning of Year, — 20,604 '2 0 Cash in the Public Account .. .. .. .. .. • • 202,885 '.) 10 Advances in the hands of Officers of the Government1,816 2 4 1 In the Dominion .. .. .. .. .. ■ 111 IT I 301,500 15 7 j Investment Acoount •j<j. .->()! -2 0 ■ 1,816 2 i 301,500 16 7 ' 202.497 7 -2 323,820 19 11 Amount received from the New Zealand State-guaranteed Advances Office in terms of Seotion 89 of the Nnw Zealand State guaranteed Advances* Act. 1900 .. . . 38,000 0 0 The Land for Settlements Aot, 1908, and the New Zealand State-guaranteed Advances Act, 1910.— Debentures mat >red 1st January, 1911, reuewed .. .. .. .. 84,175 d 0 Dubentures issued for redemption of Debentures matured 1st January, 1911 .. 26,425 0 0 j: 112,600 0 0 Receipts on account of capital value of land under the Land Aot, 190*. 1, i£! 5 4 , Section 191 .. .. .. .. .. . . . 1,955 13 8 10,216 12 1 Section 177 .. .. .. .. .. .. .. .. 11,543 16 11 I 18.499 10 7 11,653 17 5 ■• Receipts derived from Estates, — ' 257,684 14 8 ; Rents, &o. .. .. .. .. .. .. .. .. .. 271,199 7 7 . i Other Reoeipts,— '2,708 0 5 ; Interest on Securities held by the Investment Account .. .. 482 3 11 8,771 12 5 ; Profits on sale of Securities held by the Investment Acoount .. 11,479 12 tO Credits in reduoiion.— 2 18 9 No. 2 .. 31 4 6 Heretaunga .. . . .. .. .. .. .. .. 21 3 3 1 13 4 j Huinga Lawry .. .. .. .. . . .. .. . . . . 313 IS t 98 13 8 Makareao 0 10 2 Walker 20 3 11 : Windle .. .. .. .. .. .. .. .. .. 26 17 u ! ! • S61 18 7 155 4 4 j ! The Laud for Settlements Act, 1908,— 915,735 0 0 Scrip and Debentures issued .. .. .. 385 7 6 Premiums received 400 0 0 Debentures matured 1st January, 1909, renewed ■239,500 0 0 Debentures matured 1st April, 1909, renewed 181,800 0 0 Debentures matured 1st May, 1909, renewed 128,300 0 0 1 Debentures matured 30th September, 1909, renewed .. 100,000 0 0 Debentures matured 1st January, 1910, renewed ' .. I 135,000 0 0 : Debentures matured 1st February, 1910, renewed : . , 2,001,120 7 6 2,605,914 16 8 Carried forward .. .. .. .. .. . .. .. 633 640 7 10 633,640 7 10
8.—6
STATEMENT of the RECEIPTS and EXPENDITURE of the LAND FOR SETTLEMENTS ACCOUNT for the Year ended 31st March, 1911, compared with the Financial Year ended 31st March, 1910.
19O9-191O. EXPENDITURE. £ e. d. Annual Appropriations,— fe s. d. 3,002 0 6 Vote 123—Land for Settlements Expenses 4,295 12 9 Vote 124-Workers'Dwellings Expenses 7,297 13 3 191O-1911. E s. d. £ 8. d. £ s. d. S,238 19 0 630 9 10 i _ 9,869 8 10 Acquirement of P.stiiteF. *nd expenses incidental thereto, — Name of Eatate I'urcbaee-tiioney 391 5 5 Airedale 6 13 6 Albury • ■ Allanholm (Allan, A.) . .. .. 24,160 1 9 27 2 6 Annan 3 4 0 Ardgowan 92 19 9 Argyll 2 0 0 Ashley Gorge Aviemore (Cameron, H.) .. .. .. 'ISO 0 u 34 7 0 Barnego 2 8 6 Beaumont 88 5 10 Bickerotaffe 32 3 5 Blind River 0 1 0 Braoo 840 3 4 Braeburn .. 3,061 9 11 Buddo 1 6 3 : Cadman L.76O 15 10 Carrington .. 1 6 3 Carroll 5 5 6 Chamberlain 0 15 11 Clandeboye (MoOully, VV.) .. .. .. 14,476 8 2 Clandeboye No. 2 (Rolleston, E. M.) .. .. 8,192 16 0 Clandon 14,213 6 8 Clydebank 0 6 2 Cradock 1,001 5 9 Culverden .. B 18 11 Duncan Dravton (Bailey, J.) .. .. .. . • 21,296 5 8 368 18 1 Dyer .. 18 16 11 Earnscleugh 0 4 0 Eccleston No. I .. .. .. .. • Eccleston No. 2 174 lv 7 Edendale •2 17 0 Elderslie 27 1 0 Elsthorpe .. 102 0 0 Epuni 11,970 16 0 Ermedale (Thomas, D.) .. .. .. 17 H s Epworth 4 9 8 Pencourt 190 8 6 Plaxboiirne 38 7 11 Forest Gate 8,327 8 6 Fyvie 13 2 9 Glenham .. •2 8 0 Greenfield . . 1 13 0 Hall-Jones .. 107 2 9 Hatuma .. 1 Iβ 1 Hawtrey 4 7 0 Hekeao 21 13 6 Heiana 17 i i Highbank .. Hornby (Amyes, J. O., and Leslie, J.). . .. 8,696 o o 4 18 0 Horsley Downs Huinga 0 1 10 Kaimahi .. 30 15 10 Kanakanaia 30 18 t> ; Kapua Kapuatohe 145 0 9 Karapito .. 135 13 10 KaurooHill 0 4 0 Kereta Kinlooh 0 6 2 Kitchener .. ■■i 6 10 Kohika KohikaNo. 2 (Corrigan, M. J.) .. ..' 6,897 8 5'' 81 9 7 Kumeroa .. 60 0 9 Kurow LI, 274 11 3 Ladbrook .. 282 9 1 Lawry .. 699 17 3 , Lindsay J 10 0 Longbush .. Lougbnan 3 7 6 Lyndon No. 1 1 4 0 Lyndon No. 2 3 8 0 If aerewhenua 22 8 2 Mahora 2 16 6 ilahupuku Makareao t>3 4 7 Manga-a-toro 30 11 0 Mangapouri 68 7 0 j Mangatahi 27 5 0 Mangawhata 3 1 10 Mangawheco 2 0 0 Marawiti 3,531 6 8 Matakanui.. 17 16 6 Matamata 4 10 0 i Maungaraki 1 7 6 \ Maytown Incidental T . , Expenses. lotal 404 6 2 404 6 2 12 8 6 12 8 6 1 18 0 24,151 19 9 •27 12 6 27 12 6 7 8 0 7 8 0 HO 12 4 60 12 4 1 18 0 1 18 0 950 0 0 •2 10 0 2 10 0 12 11 8 1 12 11 8 U 7 0 34 7 0 100 6 0 100 6 0 122 7 0 122 7 0 39 11 10 39 11 10 813 0 10 813 0 10 13 3 13 3 3 8 6 3 8 6 388 5 7 14,864 13 9 109 0 10 8,301 15 10 2 ', 2 7 8 894 10 5 894 10 5 11 3 3 11 3 3 8 ii '• 6 0 0 :i0 9 6 -21.326 15 0 1 10 0 1 10 0 0 4 0 0 4 0 13 15 3 I 13 15 3 121 3 10 121 3 10 3 9 0 3 9 0 •21 16 1 -21 16 1 7 15 6 7 15 6 347 14 -2 364 17 10 0 7 6 0 7 G 30 12 8 30 12 8 •229 9 8 229 9 8 18 1 3 18 1 8 15 6 15 6 I! 9 9 14 9 9 , 0 7 6 o 7 ii 83 9 I 83 9 4 16 7 0 16 7 0 16 6 4 6 6 55 6 11 .55 6 11 7 4 0 7 4 0 155 OS 3,850 0 2 3 18 2 3 18 2 2 13 1 -2 13 1 0 16 0 0 16 0 28 17 10 23 17 10 0 10 0 0 10 0 0 9 0 0 9 0 6 2 8 6 2 8 1.277 18 9 1.277 18 9 0 18 0 0 18 0 8 17 6 8 17 6 13 1 13 1 1 13 8 1 13 8 SO 16 4 6,478 4 9 9 10 11 9 10 11 L69 8 10 169' 8 10 110 6 7 HO 6 7 2 0 0 2 0 0 8 10 0 3 10 0 1 10 6 1 10 6 1 19 0 1 19 0 II 9 0 11 9 0 9 16 9 9 16 9 85 17 8 85 17 8 24 19 8 24 19 8 5 12 6 ' 5 12 6 34 13 6 !4 13 6 ; 2 10 0 2 10 0 16 5 8 16 5 8 3 2 6 3 2 6 II 17 6 81 17 6 98 4 1 98 4 1 1 12 0 1 12 0 1 12 0 j 1 12 0 89,391 1 2 89,391 1 2 J Carried forward .. .. .. 79,175 2 6 6,292 15 11 85,467 18 5 8,869 8 10 I 6,292 15 11 85,467 18 S 8,869 8 10 .1
8.—6.
14
Table No. 1 continued.
19O9-191O. £ s. d. 2.605.914 16 8 RECEIPTS. Brought forward t 191O-1 911. B. d. i e. d. 683.640 7 10 i v <* 2,605,914 1C 8 1 Carried forward .. 633,640 7 10
15
8.—6
STATEMENT of the RECEIPTS and EXPENDITURE of the LAND FOR SETTLEMENTS ACCOUNT for the Year ended 31st March, 1911, compared with the Financial Year ended 31st March, 1910—continued.
! 19O9-191O. EXPENDITURE.. I 19O9-191O. £ s. ,1. 1910-1911. t i, a. ' e b. d 8.869 8 10 £ 8. d. fc s. d. £ s. d. 7,-297 18 8 7,297 18 8 Brought forward .. —, Name of Estate. Furclmse-moiHy. Incidental Expenses. Total Acquirement <>f Estate?, and expenses incidental 89,891 1 2 thereto— continued .. .. .. 79.17-5 2 G 6 12 6 Mead 848 2 0 ! Meadowbank Meadows (Martin, A., Jun.) .. .. ■• 13.651 15 2 19 -1 11 Melling 1 14 0 1 Merrivale .. 5 4 8' Metliuen 6 5 8 Mills .. .. .. * .. 56 10 8 '. Moritie 77.623 9 0 Ngatapa (Gibson. M . ami Judd, SY. J.) .. 42 10 0 29 8 8 Normandale •24 3 11 Northbank (Crown Landei .. . . .. r>54 0 0 3 4 2 Okauia 40 16 1 Omaka 0 5 3 Opouriao 5 1 6 Orakipaoa 0 6 0 Otaio 1.262 16 7 Otekaike .. 0 19 6 Papaka 1 10 0 Paparangi 0 14 0 Pareora No. 1 2 14 6 Pareora No. 2 1 0 0 Patoa 0 1 11 Pawaho 14 6 0 Pitt 92 2 11 Plainer 8 13 4 Plunket 18 0 0 Poerua 16 0 Pomahaka . il 11 0 : Pouparae . . 3 18 5 , Pourerere .. ; Prescot 1 18 6 I Puhipuhi Puhuka 0 15 0 ! Puketapu 2 10 0 Punaroa 0 16 0 ' Rainclifl 10 16 3 : Rainford .. 5 5 0 Rakitairi 8 3 9 Rangiatea .. 2 9 0 Rapuwai 1,669 7 7 I Raumati 8 11 4 Raureka 1 10 0 Kautawiri 55 6 7 Eewi 14 15 6 Richmond Brook 11 8 11 Bingway Roimata 1 14 6 Rosebrook 98 3 9 Rosewill RuapunaNo. 2 (Palmer, G. J. F.I .. .. 89,822 5 0 Rugged Ridges (Palmer. .T.I .. .. .. S80 0 0 77 16 5 Selwyn 17 14 0 Spotswood .. r>98 10 8 ' Starborongli •181 7 7; Steward Stoke (Ruddenklau, F. W.I .. .. .. 18,137 i 0 40 6 6 ; Stronvar 3 10 0 Tablelands 14 0 Takitu 14 12 8 Tamai 16 4 Tarawahi 379 4 11 Taumatn. 750 7 9 Tautari 3 0 0 Tawaha ■2,811 9 9 Te Arai 1,025 6 1 Teaxdale .. 231 2 1 Te Mata Tokaora 4 9 0 Tokarahi 4 7 10 Tomoana 48,450 8 1 i Tongoio 2 18 6 Totara 52.737 10 7 Tripp (Tripp, 0. H. and L. H.| .. .. 11 9 6 7 13 9 Waari .. .. .. .'. .. .. 4 5 4 I Waddington 2 1 6 I Waiapi 30 3 11 , Waikakahi .. 254 8 8 Wainians, .. 6 3 9 Waimarie .. 4 12 8 Waipapa .. Waitakaruru No. 5B (Graham, R.J.) .. . 6,522 2 7 12 11 0 Wangapeka.. 0 10 Wharenui 6 3 8 Whitehall .. 37 6 0 Wigan H50 0 0 Wilford 10 16 5 Willows 15 5 0 Windsor Park No. 1 .. 2 4 0 Windsor Paik No 2.. 8,292 15 11 2 1 6 14 14 6 106 L6 9 5 15 9 4 0 2 1 19 0 3,145 4 1 20 18 3 13 3 4 2 10 0 24 1 5 24 10 11 16 19 3 0 11 0 293 19 8 2 0 0 0 12 0 1 19 6 1 14 0 6 10 0 2 0 2 206 17 0 1 13 10 8 18 0 10 16 10 : 11 11 8 ■ 3 16 5 4 8 9 0 15 8 3 7 0 0 4 2 18 8 1 2 12 0 11 13 11 1 10 0 20 10 2 4 5 7 1 7 6 33 8 6 15 17 11 85,467 18 5 2 1 6 14 14 6 13.758 10 11 5 15 9 4 0 2 1 19 0 3,187 14 1 20 18 3 567 3 4 2 10 0 24 1 5 24 10 11 16 19 3 0 11 0 293 19 8 2 0 0 0 12 0 1 19 6 I 14 0 6 10 0 2 0 2 206 17 0 1 13 10 8 18 0 10 16 10 11 11 8 8 16 6 4 8 9 0 15 8 3 7 0 0 4 2 18 3 1 2 12 0 11 13 11 1 10 0 20 10 2 4 5 7 1 7 6 33 8 C 15 17 11 6 8 o 6 8 0 86 16 2 428 5 10 7816 7 3 4 10 347 9 8 39 13 0 142 19 3 86 16 2 40.250 10 10 880 0 0 78 16 7 3 4 10 847 9 8 39 13 0 18.280 8 8 1 10 0 1 15 8 33 10 6 I 10 6 115 8 83 10 6 14 0 59 13 8 1 10 0 926 18 1 ! 395 17 1 2 5 8 3 13 4 4 16 6 0 19 3 2,555 9 3 1 12 0 768 16 9 46 19 4 174 5 4 2 10 0 54 16 3 56 3 11 9 16 3 12 1 5 3 6 10 0 10 7 17 10 80 4 5 21 10 0 15 11 10 1 2 6 1 4 (i 59 13 8 1 10 0 I 926 18 1 396 17 I 2 5 e 8 13 4 4 16 6 0 19 B 2.555 9 3 1 12 0 780 6 3 46 19 4 174 5 4 2 10 0 54 16 3 56 3 11 9 16 3 12 1 5 6,522 2 7 3 6 10 0 10 7 17 10 80 4 5 21 10 0 15 11 10 1 2 6 279,238 3 0 Totals.. .. .. .. 158,796 8 9 16,720 1 0 175.516 9 9 175,516 9 9 286,535 16 8 1 Carried forward 184,385 18 7
8.-6.
Table No. 1—continued.
16
1 1909-1 91O. RECEIPTS. 1910-1911. £ s. d £ e. d. £. «. a. • 2,605,911 Iβ S Brought forward .. .. .. .. .. I 633,640 7 10 • - J _ ; £2.605,914 16 8 Totals .. .. .. .. .. .. .. £633,640 7 10 £2.605,914 16 8 STATEMENT of the RECEIPTS and EXPENDITURE of the MAORI LAND SETTLEMENT £ s. d, Balance at beginning of Year,— £ B . d. 6 s. d. \ 4.645 0 8 Cash in the Public Account .. .. .. .. .. .. 4.2.49 19 K Advances in the hands of Officers of the Governmeni 92 11 1 In the Dominion .. : — ' — 1,399 19 8 4,737 11 I The New Zealand Loans Act, 1908,— The Maori Land Settlement Act, 1905,— Debentures issued for redemption of Debentures matured 1st Jsuuary, 191) .. 26,050 U 0 Debentures matured 1st January, 1911. renewed .. ■• .. .. 24,650 0 0 . , 30,700 (I 0 ! \ ; £4,737 11 i'' Totalis .. .. .. .. .. .. .. . £54.999 19 8; I i ' £54.999 19 8
17
8.—6
STATEMENT of the RECEIPTS and EXPENDITURE of the LAND FOR SETTLEMENTS ACCOUNT for the Year ended 31st March, 1911, compared with the Financial Year ended 31st March, 1910-continued.
19O9-191O. EXPENDITURE. 191O-1911. £ s. a. e i. a. g b. d. 286,535 16 8 ; Brought forward .. .. .. .. .. .. .. .. 184,385 18 7 The Land for Settlements Aot, 1908,— Debentures redeemed— Matured 1st January, 1911 .. .. .. .. .. .. .. 2g lag n o 418,950 (i 0 Matured 1st May, 1909 ■210,000 0 0 Matured let April, 1909 (1894-97) .. 7.000 0 0 Matured 1st July, 1909 57,600 n 0 Matured 30th September, 190<) 52,800 0 0 Matured 1st February, 1910 .. .. .. .. .. '' * Debentures renewed— Matured 1st January, 1911 .. .. .. .. .. .. . 84 175 o n ■201,000 0 (i Matured 1st April, 1909 (1894-97) .. 38,800 0 0 Matured 1st April, 1909 181,800 0 0 Matured 1st May, 1909 ]'28,300 0 0 Matured 30th September, 1909 400,000 0 0 Matured 1st January 1910 .. 185,000 0 0 Matured 1st February, 1910 .. .. .. .. .. .. " 400 0 0 Matured 1st January, 1909 .. .. .. .. .. .. .. \\ ; 112,600 0 0 1,831,250 0 0 Charges and Expenses,— •2,725 '2 2 On issue of Debentures .. .. .. .. .. ,. 33 13 7 4,133 9 On renewal of Debentures .. .. .. .. .. .. .' 035 2,830 0 0 On redemption of Debentures — 38 17 U 9,688 11 7 9,688 11 7 217,068 15 '.) Interest paid to Consolidated Fund in respect of Debentures issued .. .. .. 224,037 S 9 95 8 4 Interest under subsection (8) of section 191 of the Land Aot, 1908 .. .. .. 106 1 3 Sinking Fund under section 90 of the New Zealand State-guaranteed Advuices Act, 1909.. .. .. .. .. .. .. .. .. 59,079 7 7 ! 58,778 17 7 Sinking Fund £1 per cent, on amount issued .. Balanoe at end of Year, — 202,880 9 10 Cash in the Public Account .. .. .. .. .. .. .. 53,097 11 8 Advances in the hands of Officers of the Government— 111 17 4 In the Dominion .. .. .. .. ,. .. .. .. 300 0 0 i 53,397 14 8 202,497 7 2 £2,605,914 16 8 Totalfl .. .. .. .. .. .. .. £633,640 7 10 £633,640 7 10 ACT ACCOUNT for the Year ended 31et Maiich, 1911, compared with the Financial Year ended 31st March, 1910. £ s. d. The New Zealand Loans Act, 1908,— £ 1. d. £ s. a. The Maori Land Settlement Act, 1905 — Debentures matured January, 1911, redeemed .. .. .. .. 26,050 0 0 Debentures matured 1st January, 1911, renewed - .. .. .. .. 24,650 0 0 50.700 0 0 144 18 11 Vote—Maori Land Settlement Expenses 292 12 9 ' Acquirement of Land .. Balance at end of Year, 4,299 19 8 Cash in the Public Account .. .. .. .. .. .. .. .. t, 299 19 8 £4,737 11 4 . Totals .. .. .. .. .. .. .. £54,99'.) 10 S £54,999 L9 8 3— i>. 6.
18
8.—6
Table No. 1—continued.
,909-1910. RECEIPTS. £ a. a. Balance at beginning of Year,— 9 948 12 11 Cash in the Public Account Advanci s in the hands oj Stock Agents— 444 l 7 Cash .. 191O-1911. i, s. d. £ s. d. Dr. 859 13 1 700 4 2 Dr. 159 8 11 10,387 14 6 34-per-ceiit. Inscribed Stock,— 129 560 0 0 Issued for conversion of Debentures 10000 0 0 Issued for expenses of conversion .. 772 800 0 0 Issued for redemption of Debenture? .. 3.323,660 0 0 25,610 0 0 '■- 3,349,270 0 0 912,060 0 0 I I £022.447 14 6 Totals t£3,349,U0 11 1 !£3,349,U0 11 1 i<122.447 14 6
B.—B
STATEMENT of the RECEIPTS and EXPENDITURE of the CONVERSION ACCOUNT for the Year ended 31st March, 1911, compared with the Financial Year ended 31st March, 1910.
19
19O9-191O. EXPENDITURE. • 191O-1911 ~ s - d. Amount ,, t p™n ■ £ 8. d, i: s. il Scrip and Debentures converted into 3i-perceiit. converted. " ale - rrenimin. Inscribed Stock,— £ £ l> Aid to Public Works and Land Seti lenient Act, 1910 .. .. .. .. .. 1,359,400 102 27,188 Naval Defence Act, 1909 .. .. .. 296,500 102 5,930 Finance Act, 1909 .. .. .. .. 1,002,100 102 20,042 Aid to Public Works and Land Settlement Act, 1909 .. .. .. .. .. 600,000 102 12,000 Aid to Public Works and Land Settlement Act, 1904 .. .. .. .. .. 500 par Aid to Public Works and Land Settlement Act, 61,200 0 0 1908 .. .. .. 2,060 0 0 Land for Settlements Act, 1908 Wellington-Manawatu Railway Purchase Act, 66,300 0 0 1908 129,560 0 0 3,258,500 .. 65,160 129,560 0 0 . 1 j 3,323,660 0 0 ! 3,323,660 0 0 Kxpenses Account, — 12,348 5 0 Brokerage and Commission .. .. .. .. .. .. 1,056 10 0 22,725 1 0 Discount.. .. .. .. .. .. .. .. .. 237 4 0 7,569 2 6' Stamp Duty .. .. .. .. .. .. .. .. J 1,565 19 6 404 14 11 Rent and Office Expenses .. .. .. .. .. .. .. 436 17 2 23,296 10 6 43,047 3 5 Debentures redeemed, — 520,000 0 0 Aid to Public Works and Land Settlement Act, 1908 230,000 0 0 Wellington and Manawatu Railway Purchase Act, 1908 750,000 0 0 Balance at end of Year,— Dr. 859 18 1 Cash in the Public Account .. .. .. .. .. .. Dr. 13,321 8 4 Advances in the hands of Stock Agents— 700 I - 2 Cash .. .. .. .. .. .. .. .. .. 475 8 i) In the hands of the High Commissioner— 3$-per-eent. 8tock for Sale .. .. .. .. .. .. 15,000 0 0 — ■ 2,154 0 S Dr. Dr. 159 8 11 159 8 11 £922,447 14 6 Totals .. .. .. .. .. .. .. !£3,349,11O 11 1
8.—6
20
Table No. 1—continued.
19O9-191O. RECEIPTS. 191O-1911. £ g. d. £ s. a. e e. d. Balance at beginning of Year, — 2,406 'J 10 Cash in the Public Account Advances in hands of Officers of the Government— 544 17 5 In the Dominion 28,876 l> I) 2,951 7 3 28,876 0 0 The Lnoal Bodies' Loans Act, 1908,325,000 0 0 Debentures issued Debentures matured 1st March, 1911, renewed.. 325,000 0 0 70,000 0 0 416,000 0 0 — 486,000 (I 0 Advances under section 77 of the New Zealand State - guaranteed Advances Aot, 1909 39,820 I) 0 Refunds under sections 64 and 72 of the Local Bodies' Loans Aot, 1908.— Counties— Cook Hokianga Kiwitea 400 0 0 Patangata Pohangina Waikohu .. .. .. .. ' .. 98 19 10 Woodville ■227 8 3 1 13 11 92 9 10 18 10 1 100 0 0 320 15 0 L,000 0 0 Boroughs— 74 11 10 ' Akaroa 36 C 9 Poxton Mataura Sumner Temuka 187 10 0 Whangarei Woodville 29 9 9 101 16 2 30 2 3 89 13 8 81 19 8 Road Board— 42 12 7 Heathcote .. Town Board— Hunterville 8 9 0 Drainage Board— Ellesmere Land 273 4 (I Kltham Hopelands 55 4 8 . 9 11 9 1,113 6 0 2,162 3 7 329,064 12 3 Carried forward .. .. .. .. . 329,064 12 3 551.858 S 7 551,858 8 7
8.—3
STATEMENT of the RECEIPTS and EXPENDITURE of the LOANS TO LOCAL BODIES ACCOUNT for the Year ended 31st March, 1911, compared with the Financial Year ended 31st March, 1910.
21
19O9-191O. EXPENDITURE. 191O-1911 191O-1911. 11. £ s. d. Loann under the Local Bodies' Loans Aot, 1908, — Counties— 2,000 0 0 Akaroa 3,000 0 0 Akitio 5.000 0 0 Amuri 300 0 0 Bruce 1,600 0 0 Castlepoint Clifton 6,000 0 0 Cook 600 0 0 Dannevirke 600 0 0 Eketahuna 3,00) 0 0 Geraldine 5,100 0 U Hawke's Bay 1,500 0 0 Hobson 2,550 0 0 Horowhenua 500 0 0 Hokiunga 3,000 0 0 Kaikoura 2,450 0 0 Kawhia 3,163 0 0 Kiwitea 2,000 0 o Lake 4,284 0 o Levels 550 0 0 Mackenzie 200 0 0 Manawatu 6,300 0 0 Masterton ■2,000 0 0 Opotiki 750 0 0 Oioua 986 0 0 Pnhiatua 3,500 0 I) Piako 662 0 0 Pohangina iSO 0 0 Raglan 6,000 0 0 Rangitikei 2,000 0 0 Selwyn 1,250 0 0 Southland 3,753 0 0 Stratford 720 0 0 Taranaki 2,500 0 0 Tauranga 2,000 0 0 Waiapu 'JO0 0 0 Waikohu 1.000 0 0 Waikato 1,200 0 o Waimarino 2,680 0 0 Waimate West 6,385 0 0 Waipa 3,000 0 0 Waipawa 2,109 0 0 Wairoa 1,000 0 0 Waitomo 1,690 0 o Whangamomona 1,100 0 0 Whangarei 2,871 0 0 Whakatane 3,122 0 0 Woodville ::i £ a. d. 300 0 0 565 0 0 200 0 0 500 0 0 1,000 0 0 400 0 0 2,000 0 0 1,116 0 0 100 0 0 2,290 0 0 1,400 0 0 1,500 0 0 5,079 0 0 50 0 0 2,500 0 0 l.OOO 0 0 1,000 0 (I 750 0 0 260 (I (I 150 0 0 500 0 0 500 0 0 £ s. d. 28.160 0 0 115,425 0 0 City Oounoil— 3,000 0 0 Ohristohuroh 2,000 0 0 i Boroughs— 350 0 0 J Birkenhead 200 0 0 Carterton 1,000 0 0 Dannevirke 895 0 0 Eketahuna 2,000 0 0 Eltham 10,718 0 0 Feilding 665 0 0 Poxton 1,500 0 0 Hokitika 2,000 0 0 Kaiapoi 50 0 0 Kumara 2,600 0 0 Levin .. .. .. , Lower Hutt 10,000 0 0 Lyttelton 1,040 0 0 Maori Hill 1,300 0 0 Mataura 3.000 0 0 Newmarket t 1,000 0 0 35 0 0 2,000 0 0 1,000 0 0 1,000 0 0 10,000 0 0 1,250 0 0 ' 2,000 0 0 37,318 0 0 118,425 0 0 Carried forward 18,285 0 0 25,160 0 0 18,285 0 0 25,160 0 0
8.-6.
22
Table No. 1 - continued.
19O9-191O. 19O9-191O. RECEIPTS. 191O-1911. £ B. d. 339,064 12 3 Brought forward j> s. d. £ 8. d. 551.858 8 7 1 > tata « 329,064 12 3 Carried forward « 551,858 3 7
23
B.— ti
STATEMENT of the RECEIPTS and EXPENDITURE of the LOANS TO LOCAL BODIES ACCOUNT for the Year ended 31st March, 1911, compared with the Financial Year ended 31st March, 1910-continued.
19O9-I91O. EXPENDITURE. 191O-1911. £ s. (1. 118,425 o ii Brought forward £ a. d. £ a. d. ■25.160 0 0 Loans under the Local Bodies' Loans Act, 1908 — continued. :)7.31S (I 0 Boroughs— cmt-.wied .. .. .. . 2,000 o ii Northcote 400 o 0 Onslow J, 000 0 0 Palmeraton 1,000 0 0 Petone 2,500 0 0 Pioton 2,0 (J 0 o Stratford 2,000 ii ii Sumtier 1,800 ii 0 Temuka 3,000 o 0 Tnames 10,900 0 0 Waipawa 10,000 0 0 Whangarei 2,654 0 0 Woodville 18,285 0 0 2.000 0 0 •2.000 0 0 250 0 0 2,000 0 0 7,000 0 0 77,572 0 0 31,535 0 0 i Road Boards— 500 0 0 Aroha 3,000 0 0 Huntly 1,638 0 o Hunua 8,000 0 0 Kirikiriroa 500 0 0 Mangawhero 1,200 0 0 MataongaotiRR 1,150 0 0 Moa .. .. .. : Moturoa 150 0 0 Oero 750 0 o Okato Okain's Bay 250 0 0 Okotuku •200 0 0 Otaki 50 0 0 Papakura 556 0 0 Parihaka 100 0 0 i Paparoa 550 0 0 ' Pelorus .. : 1,722 0 0 Picton 1,000 0 0 Pukekobe East 2,575 0 0 Pukekohe West 3,090 0 0 Riccarton 550 0 0 Tamahere 1,500 0 0 I Turanga 895 0 0 Waipipi Wairoa 100 0 0 Waitara West ■2,200 0 0 Waiuku 300 0 0 Werekino I 2,000 0 0 1.000 0 0 200 0 0 ' 232 0 0 350 0 0 250 0 0 ■MO 0 0 310 0 0 ■2,375 0 0 2,182 0 0 411 0 0 800 0 0 308 0 0 1.800 0 0 12.71K 0 0 12,718 0 0 '27,826 0 0 I ... I 1 \J V Towu Boards100 0 0 Featherston 149 0 0 Frankton 300 0 0 Hunterville 291 0 0 Lethbridge '200 0 0 Ohakune .. .. .. Opotiki 800 0 0 Te Awamutu 300 0 0 300 0 0 300 0 0 1,340 0 0 •jyjyr \j \j '225.163 0 0 Carried forward 225.163 0 0 ... 69.713 0 0 69,713 0 0
8.—6
24
Table No. 1—continued.
19O9-191O. RECEIPTS. 191O1911. RECEIPTS. £ s. d. t s. d. £ s. d. 329,064 12 3 Brought forward .. .. .. .. .. .. 851,858 8 7 • ■ ' ! £329,064 12 3 Totals .. .. .. .. .. .. £551,858 3 7 .£329,064 12 3 £551,8.W 8 7 ItfUAJU f *J\J J- A *J ** ■*»■»•■* ■» '- -- -- -- r — ~j — ' STATEMENT of the RBOEIPTS AND EXPENDITURE of the OPENING UP CROWN a p. d. t s. ri. a s. d. Advances under seotion 77 of the New Zealand State-guaranteed Advances Aot, 1909 .. 54,266 l> 0 Total .. .. .. .. .. .. £64,265 0 0 4
25
B.— (J
STATEMENT of the RECEIPTS AND EXPENDITURE of the LOANS TO LOCAL BODIES ACCOUNT for the Year ended 31st March, 1911, compared with the Financial Year ended 31st March, 1910—continued.
4—B. 6.
19O9-191O. EXPENDITURE. 1910-1911. . •225,163 0 0 Brought forward .. .. .. .. .. .. 69,713 0 0 £ s. d. 225,163 0 0 £ s. d. I £ s. d. 69,713 0 0 River Board— 1,500 0 0 Hutt 1,500 0 0 Drainage Boards— 8,000 " (i Ellesmere Lands .. .. .. .. .. .. 2.935 0 0 500 0 0 Eltham 2,500 0 0 Hautapu 8,000 0 0 Hunga Hunga .. .. .. .. .. .. 1,000 0 0 2,100 0 0 Makerua .. .. .. .. .. .. .. 500 0 0 2,100 0 0 Moutoa .. .. .. .. .. .. .. 2.800 0 0 75 0 0 Pukekohe 1,579 0 0 Sef ton-Ashley 2,715 0 0 Sluggish River 150 0 0 South Hautapu .. .. .. .. .. ..I 150 0 0 I Te Rapa 825 0 0 Tumu-Kaituna .. .. .. .. .. .. 225 0 0 ; 7,460 0 0 iH r.Qi n n 3,000 0 0 500 0 0 2,500 0 0 3,000 0 0 2,100 0 0 2,100 0 0 75 0 0 1,579 0 0 2,715 0 0 150 0 0 150 0 0 825 0 0 2.983 u 0 1.000 0 0 500 0 0 2.800 0 0 « - r/ « , \** 225 0 0 7,460 0 0 18,694 0 0 245,357 0 0 Total Loans .. .. .. .. .. .. 77,173 0 0 18,694 0 0 245,357 0 0 77,173 0 0 The Local Bodies' Loans Act, 1908 — Debentures matured 1st March, 1911, renewed.. .. .. .. .. 416.000 0 <> 41ii.n0(i 0 (i Amount transferred to Opening up Grown Lands for Settlement Account .. .. Mil, 8-20 O 0 Mil, 8-20 (I 0 40,307 0 2 Vote, Roads to open up Crown Lands.. 40,307 0 2 200 7 0 200 7 0 Unauthorized .. 324 5 1 324 5 1 Repayment to Manganui Road Hoard of Loan erroneously refunded Amount transferred to Hauraki Plains Settlement Account under section ■) of 19,000 0 0 the Hauraki Plains Act. 190ft 19,000 0 0 28,876 0 (» Balance at end of Year, — 28,876 n O Cash in the Public Account .. .. .. .. .. .. 1H.865 M 7 1H.865 M 7 £329,064 12 3 i Totals .. .. .. .. .. £551,858 3 7 £551,858 3 7 6329,064 12 y LANDS FOR SETTLEMENT ACCOUNT for the Year ended 31st March, 1911. £ f, d. Annual Appropriation,— £ s. d. £ 3. d. Vote 127—Koads to open up Crown Lands .. .. .. .. .. 45,690 10 4 Balance at end of Year, — Cis'n in the Public Account .. .. .. .. .. 7.212 17 i Advances in the hands of Officers of the Crovprnment— In the Dominion .. .. .. .. .. .. 1,361 12 5 j i I 574 l t s Total .. .. .. .. .. .. £54,265 0 0
8.—6
26
Table No. 1— continued.
19O8-191O. RECEIPTS. 191O-1911. t s. a. £ s. a. t b. a. £ s. d. Balance at beginning of Year,— 327 14 6 Oash in the Public Account .. .. .. .. .. 5,387 6 1 Advances in the hands of Officers of the Government— In the Dominion .. .. .. .. .. .. 1,705 5 l> 327 14 6 7,092 11 7 327 14 fi 327 14 6 ■yj.1 14 o .. Receipts under section 8 of the Hauraki Plains Act. 1908, — Land Sales .. .. .. .. .. .. .. 2,263 0 0 Perpetual Leases .. .. .. .. .. .. 3,710 18 10 Miscellaneous .. .. .. .. .. .. 40 15 10 10,000 0 0 l'J,000 0 0 10,000 0 0 Advances under section 84 of the New Zealand State-guaranteed Advances Act. l'.HUi .. 10,000 0 0 Amount transferred from Loans to Local Bodies Account under section i of the 19,000 0 0 Hauraki Plains Act, 1008 £29,327 14 6 Totals .. .. .. .. .. .. £53,107 1 3 £29,327 14 6 STATEMENT of the RECEIPTS and EXPENDITURE of the NATIONAL £ p. a. £ s. d. £ p. d. Balance at beginning of Year, — Cash in the Public Account .. .. .. .. .. .. .. 55,861 19 2 146,469 9 8 Rents, &c, from National Endowment Lands .. .. .. .. .. .. 96,88] 0 9 _ £146,460 9 8! TotalB .. .. .. .. .. .. .. . £151,192 v> II \ STATEMENT of the RECEIPTS and EXPENDITURE of the NEW ZEALAND STATE- £ e. d. £ s. a. £ s. d. The New Zealand State-guaranteed Advances Act, 1909-1910,— Advances to Settlers— Instalment received in respect of £1,675,000 Loan authorized .. ..: 1,501,135 0 0 Temporary advances on tie security of Debentures issued .. .. 250,000 0 0 1,751.135 0 0 Advances to WorkersInstalment received in respect of £325,000 Loan authorized .. .. .. 291,265 0 0 Temporary advances on the security of Debentures issued . . .. .. 250,000 0 0 541,265 0 0 Total .. .. .. .. .. .. .. 12,292,400 0 0 £2,292,400 0 0 STATEMENT of the RECEIPTS and EXPENDITURE of the RANGITAIKI *! b. fl- £ s. a. £ s. d. Advances made by the New Zealand State-guaranteed Advances Office under section 5 of the Land Drainage Act, 1910 .. .. .. .. .. 25,000 0 0 Receipts under section 7 of the Rangitaiki Land Drainage Act, 1910 .. .. 715 10 10 Total .. . .. .. .. .. £25,715 10 10 £25,715 10 10 ■ ■ • - ■ ■ ■ • • • ■ ■ ■ - ■ J- — ' ' y I Xtf ±.\J X\J
27
8.—6
STATEMENT of the RECEIPTS and EXPENDITURE of the HAURAKI PLAINS SETTLEMENT ACCOUNT for the Year ended 31st March, 1911, compared with the Financial Year ended 31st March, 1910.
19O9-191O. EXPENDITURE. 191O-1911. £ s. d. £ s. d. £ 8. d. 22,235 2 11 Expenditure under the Act .. .. .. .. .. .. .. .. 29,607 4 5 Payment of Principal and Interest under section 84 of the New Zealand State guaranteed Advancefl Act, 1909 .. .. .. .. .. •. •. s: < 1 B (S Balance at end of Year,— 5,887 (i 1 Cas)< in the Public Account .. .. . .. .. .. 22,044 II 3 Advauces in hands of Offioers of the Government 1,705 5 6 In the Dominion .. .. .. .. .. .. .. 620 17 1 _ 2:4,660 8 4 7,092 11 7 7,092 11 7 t\ —\t-\ ■».-» rw 4 a #-> in . t ft W A I *\ £29,327 14 6 Totals .. .. .. .. .. .■ .. £53,107 1 3 £29,327 14 6 £53,107 1 8 ENDOWMENT ACCOUNT tot the Year ended :Jlst March, 1911, compared with the Financial Year ended 31st MaboH, 1910. £ s. d. Annual Appropriation,— £ *. d. £ s. d. 4,974 19 9 Vote 128 —Roads to open up National Endowment Lands .. .. .. .. 5,619 B 8 85,682 17 '.) Expenditure under the Land Ant, l>KM .. .. .. .. .. .. 123" 16 3 Balance at end of Year, — J61 12 i Ca«h in trie Publio Account .. .. .. .. .. .. .. 66,14>J 8 0 £146,46>J 'J 8 Totals .. .. .. .. .. .. .. £151,192 12 11 £146,46>J 9 S I ,192 12 11 GUARANTEED ADVANCES LOAN ACCOUNT for the Year ended SU( Maboh, 1911. £ s. :l. t B. d. £ ,. d. I Amount paid over to the Advances to Settlers Office Account on account of Loan .. .. 1,251,135 0 (I Amount paid over to the Advances to Workers Office Account on aooount of Loan.. .. 41,265 0 0 The New Zealand State-guaranteed Advances Act, 1909, — Temporary Advances repaid— Advances to Settlers .. .. .. .. .. .. .. 500,000 0 0 Advances to Workers .. .. .. .. .. .. .. 500,000 0 0 ; 1,000,000 0 0 Total .. .. .. .. .. •■ .. £2,292,400 0 0 LAND DRAINAGE ACCOUNT tor the Year ended 31st March, 1911. • £ 8. d. £ s. d. £ s. d. Balance at end of Year, — Cash in the Publio Acoount .. .. .. .. .. .. .. 25,715 10 10 Total .. .. .. .. .. .. .. £25,715 lo 10 £25,715 10 10
8.--c
28
Table No. 1—continued.
19O9-191O. RECEIPTS. 191O-1911. £ s. d. £ s. d. JE s. d. Balance at beginning of Year,— 500,000 0 0 Investment Account .. .. .. . .. .. .. .. 500,000 0 0 i £500,000 0 0 Totals .. .. .. .. .. .. .. I £500,000 0 0 £500,000 0 0 STATRMENT of the RECEIPTS and EXPENDITURE of the RESERVE £ s. d. £ s. d. I £ s. d. Balance at beginning of Year, — 800,000 I) 0 Investment Account .. .. .. .. .. .. .. .. 800,000 0 0 £800.000 0 0 Totals .. .. .. .. .. .. .. £800,000 0 0 £800.000 0 0 ! STATEMENT of the RECEIPTS and EXPENDITURE of the NEW ZEALAND CONSOLS li s. d. £ s. d.! £ s. d. Balance at beginning of Year,— s 1 1 Cash in Deposit Account .. .. .. .. .. 7,359 0 11 478,565 0 0 Investment Account .. . . .. 402,765 0 0 I—— 410,124 0 11 £ s. d. £ s. d. 7,35!) 0 11 402,765 0 0 478,573 1 1 New Zealand Consols Act, 1908,— 399,861 14 0 Consols due 1st February, 1910, renewed .. .. .. .. .. .. 145 0 0 410,124 0 11 145 0 0 9,078 0 0 Deposits inscribed .. .. .. .. . .. .. . .. 53,145 0 0 53,145 0 0 1 ; £887,512 15 1 Total? .. .. .. .. .. .. .. £463,414 0 11 ; £887,512 15 1 £463,414 0 11
29
8.-c
STATEMENT of the RECEIPTS and EXPENDITURE of the BANK OF NEW ZEALAND ACT, 1903, ACCOUNT for the Year ended 31st March, 1911, compared with the Financial Year ended 31st March, 1910.
I9O9-I91O. EXPENDITURE. 191O-1911. I9O9-I91O. 191O-1911. £ s. d. £ s. d. £ s. d. Balance at end of Year, — 500,000 0 0 Investment Account .. .. .. .. .. .. .. .. 500,000 0 0 £500,000 0 0 Totals .. .. .. .. .. .. .. £500,000 0 0 £500,000 0 0 FUND ACCOUNT for the Year ended 31st March. 1911. compared with the Financial Year ended 31st March, 1910. i f s. d. & s. d. £ a. d. Balance at end of Year, — 800,000 0 0J Investment Account .. .. .. .. .. .. .. .. 800,000 0 0 £800,000 0 0 TotalH .. .. .. .. .. .. .. £800,000 0 0 ACCOUNT for the Year ended 31et March, 1911, compared with the Financial Year ended 31st March, 1910. £ 8. d. £ s. el. £ s. a. New Zealand Consols Aot, 1908— 399,86114 0 Consols due 1st February, 1910, renewed .. .. .. .. .. 145 0 0 77,527 0 2 Consols due 1st February, 1910, redeemed .. .. .. .. .. 1,102 6 11 I ' 1/247 6 11 477,388 14 3 Balance at end of Year,— 7,359 0 11 Cash in Deposit Account .. .. .. .. .. .. .. 1 14 0 402,765 0 0 Investment Account . .. .. .. .. .. .. 482.165 0 0 i — 462,166 14 0 410,124 0 11 £887,512 15 1 Totals .. .. .. .. .. .. .. £463,414 0 11
8.—6
30
Table No. 1— continued. SUMMARY of BALANCES on 31st MARCH, 1911.
' _ Balances. Cash. Advances. I Investmknts. Total. J £ s. d. i. s. a. Consolidated Fond :— Ordinary Revenue Account .. 586,483 4 2 State Forests Account .. 14,199 19 2 State Coal-mines Account .. 27,568 13 10 Soenery Preservation Account .. 2,921 13 10 Naval Defence Aot Account .. 630,529 16 3 Accounts of Local Bodies .. Dr. 3,006 8 8 Deposit Accounts .. .. 180,171 4 8 1,43*,. SOB 9 :-; £ s. d. £ s. d. £ r. d. £ s. ci. Consolidated Fund: — Ordinary Revenue Account .. 564,201 9 0 22,281 15 2 .. 586.483 4 2 State Forests Account.. .. 14,116 3 3 83 15 11 .. 19 2 State Coal-mines Account .. j 27,302 12 2 266 1 8 .. 27*568 18 10 Scenery Preservation Account .. 2,921 19 10 .. 2921 19 10 Naval Defence Act Account .. 30!), 818 16 3! 70,711 0 0 250,000 0 0 630'529 1C 3 Accounts of Local Bodies .. Cr. 8.079 16 0 73 7 4 .. Or. 3,006 8 8 Deposit Accounts .. .. 180,108 8 5 62 16 3 .. 180,171 4 8 1,095,389 12 11 j 93,478 16 4 250,000 0 0 | 1,438,868 9 3 250,000 0 0 1,438,868 9 3 ! Public Works Fond .. .. .. 1,140.045 6 7 Public Wokks Fund .. .. 381,258 12 10 8,786 13 9| 750,000 0 0 1,140,045 6 7 „, Wellington-Hutt Railway and Road Improvement Account . .. 4,814 4 9, The Railways Improvements Account .. .. .. .. 18,146 3 2 The Waihou and Ohinemuri Rivers Improvement Account .. .. 100,000 0 0 Native Land Settlement Account .. 44,322 9 8 Land fob Settlements Account.. .. 53,397 14 8 Maori Land Settlement Act Account .. .. . .. 4,299 19 8 Cheviot Estate Account .. .. 62,771 15 8 Loans to Local Bodies Account .. 18,865 3 7 Opening dp Crown Lands fob Settlement Account .. .. .. 8.574 9 8 Hauraki Plains Settlement Account .. .. .. .. 22,665 8 4 National Endowment Account .. .. r>0.149 8 0 Bangitaiki Land Drainage Account .. .. .. .. 25,715 10 10 Conversion Account .. .. .. 2,154 0 5 New Zealand Consols Account.. .. 462,166 14 0 Reserve Fund Account. . .. .. 800,000 0 0 Bank of New Zealand Act, 1903, Account .. .. .. .. 500.000 0 0 Wellington-Hutt Railway and Road Improvement Account .. 4.814 4 9 .. .. • 4 314 4 y The Railways Improvements Account .. .. .. 18,146 3 2 .. .. 18.146 3 2 The Waihou and Ohinemuri Rivkes Improvement Account .. 100,000 0 0 - .. .. 100 000 0 0 Native Land Settlement Account 44,300 17 8 21 12 0 '.'. 44322 9 8 Land for Settlements Account. . 53,097 14 8 300 0 0 .. 53397 14 8 Maori Land Settlement Act Account 4,299 19 8 .. .. 4,299 19 8 Cheviot Estate Account .. 62,771 15 8 .. .. 62 771 15 s Loans to Local Bodies Account 18,865 3 7 .. .. 18 865 3 7 Opening up Crown Lands for Settlement Account .. .. 7.212 17 3 ] 361 12 5 3 574 <> r Hauraki Plains Settlement Account .. .. 22,044 11 3 620 17 1 .. 22,665 8 4 National Endowment Account .. 66,149 8 0 .. 66 149 8 0 Rangitaiki Land Drainage Ac- ' count 25,715 10 10 .. .. 25,715 10 10 Conversion Account .. .. Cr. 13.321 8 4 ' 15 475 8 9 2 154 0 5 New Zealand Consols Account.. 1 14 0 .. 462,165 0 0 462' 166 14 0 Reserve Fund Account .. j ann nnn n n ann' mn n ,i Bank of New Zealand Act, 1903, " " Account .. 500,000 0 0 500 000 0 0 Ghnbral Skrvicbs Account .. Or. 61,684 17 10 61,684 17 10 Totals £1,829,062 0 1 £181,729 18 2 £2,762,165~W £4,772y956~18 IT Totals .. .. .. .. £4,772,956 18 3
31
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, 1911.
RESULTS OF YEAR. £ s. d. £ s. d. Actual receipts, 1910-11 .. .. .. .. 10,297,273 410 Actual expenditure, 1910-11 .. .. .. .. 9,343,105 18 fi Excess of receipts over expendituiv .. .. .. .. .. 954,167 6 4 Balance, 31st March, 1910 .. .. .. .. .. .. 432,31. r ) 17 10 Total .. .. .. .. .. .. 1,386,483 4 2 Transferred to Public Works Fund .. .. .. .. .. 800,000 0 0 Balance, 31st Maroh, 1911 .. .. .. .. .. .. £686,483 4 2
Differences. KsTUHTKIi. Actual. More Legs than Estimate, than Estimate. RECEIPTS. Revenue Account :— S. s. d. Customs .. .. .. .. 2,850,000 0 0 Railways .. . .. 3,250,000 0 0 Stamps .. .. .. .. 726,500 0 0 Post and Telegraph .. .. .. 1.005,000 0 0 Land-tax .. . .. .. 625,000 0 0 Income-tax.. .. . .. 325,000 0 0 Beer Duty .. .. .. .. 115,000 0 0 Registration and other Fees .. .. 83,355 0 0 Marine .. .. .. .. 43,100 0 0 Miscellaneous .. .. .. 299,720 0 0 Territorial Revenue .. .. .. 233,000 0 0 Endowment Revenue .. .. 55,900 0 0 £ s d. £ s. d. £ s. <J. 3,027,828 19 9 177,828 19 9 3,483,754 19 5 233,754 19 5 819,838 18 11 93,338 18 11 1,027,566 7 9 22,566 7 9 628,723 1 5 3,723 15 407,235 1 7 82,235 17 118,100 2 11 3,100 2 11 100,026 6 0 16,671 6 0 45,932 8 11 2,832 8 11 327,123 0 0 27,403 0 0 255,032 6 0 22,082 6 0 55,861 12 2 .. 38 7 10 9.611,575 0 0 10,297.023 4 10 085,486 12 8 38 7 10 10,297.023 4 10 085,486 12 8 as i in 38 7 10 as 7 in 38 7 10 JO I ±\J Recoveries on account of Expenditure of previous yeaw 685,448 4 10 250 0 0 250 0 0 685,448 4 10 250 0 0 250 0 0 Totals .. .. .. 19,611,575 0 0 10,297,273 4 10 | 685,698 4 10 10,297,273 4 10 685,698 4 10 EXPENDITURE. Revenue Account: Permanent Appropriations,- £ s. d. Civil List .. .. .. .. 35,500 0 0 Interest and Sinking Fund .. .. 2,472,788 0 0 Under Special Acts .. .. 485,653 0 0 Subsidies paid to Local Bodies .. 105,000 0 0 Territorial Revenue .. .. 54,096 0 0 Endowments .. .. .. 150,831 0 0 Old-age Pensions .. .. .. 368,242 0 0 3.672.110 0 0 £ s. d. £ s. d. £ s. d. 34,373 4 8 .. 1,126 15 4 2,458,452 4 8 .. 14,335 15 4 482,118 7 4 .. 3,534 12 8 108,016 11 6 3,016 11 6 40,397 5 10 .. 13,698 14 2 153,459 2 5 2,628 2 5 366,033 1 5 i .. 2,208 18 7 3.642.849 17 10 5.644 13 11 34.904 16 1 £ a. a. 34,373 4 8 2,458,452 4 8 482,118 7 4 108,016 11 6 40,397 5 10 153,459 2 5 366,033 1 5 £ s. d. £ s. d. 1,126 15 4 14,335 15 4 3,534 12 8 8,016 11 6 13,698 14 2 2,628 2 5 2,208 18 7 3,672,110 0 0 3,642,849 17 10 5,644 13 11 34,904 16 1 Annual Appropriations,— Legislative .. .. .. 34,573 0 0 Department of Minister of Finance .. 51,961 0 0 Postmaster-General .. .. 923,672 0 0 Working Railways .. .. * 2,463,310 0 0 Minister of Publio Works .. .. 89,993 0 0 Native Department .. .. 22,257 0 0 Minister of Justice.. .. .. 378,939 0 0 Minister of Mines .. .. .. 26,439 0 0 Department of Internal Affairs .. 274,885 0 0 Defence Department .. ..j 218,716 0 0 Commissioner of Trade and Customs I .„„ ..,„ - „ -vr -, n , o 126,588 0 0 Marine and Harbours, &c. .. I Deparumut of Labour .. .. 24,000 0 0 Department of Lands and Survey .. 271,422 0 0 Minis;er of Agriculture, Commerce, and Tourists .. .. .. 190,176 0 0 Education Department .. .. 931,042 0 0 Services not provided for .. .. ... 6,033,923 0 0 34,573 0 0 51,961 0 0 923,672 0 0 2,463,310 0 0 89,993 0 0 22,257 0 0 378,939 0 0 26,439 0 0 I 274,885 0 0 218,716 0 ii 3,b42,treU 17 1U 0,D44 13 11 34, 'JU* ID 1 37,610 15 8 8,087 16 8 48,023 9 1 .. 3,937 10 11 911,819 3 4 .. 11,852 16 8 2,270,813 10 1 .. 192,496 <J 11 81,103 8 9 .. 8,889 11 3 21,661 8 8 .. 595 11 4 370.181 10 1 .. 8,757 9 11 22,450 14 10 .. 3,982 5 2 262,141 14 4 .. 12,743 5 8 212,938 116 .. 5,777 8 6 U4,73(i 9 11 .. 11,801 10 I 22,725 8 4 .. 1,274 16 S 206,660 9 9 .. 64,761 l() 3 184,578 14 6 .. 11,597 5 6 924,777 7 11 .. 6,264 12 1 8,027 9 4 8,027 9 4 5,700,256 0 8 11,065 4 7 344,732 3 11 37,610 15 3 48,023 9 1 911,819 3 4 '2,270,813 10 1 81,103 8 9 21,061 8 8 870,181 10 1 22,450 14 10 262,141 14 4 212, 'J38 11 6 3,087 LS •■! 3,937 10 11 11,852 16 8 192,496 <J 11 8,889 11 3 595 11 4 8,757 9 11 3,982 5 2 12,743 5 8 5,777 8 6 126.538 0 0 U4,73(i 9 It 11,801 10 I 24,000 0 0 271,422 0 0 22,725 3 4 206,660 9 0 1,274 16 8 64,761 10 3 196,176- 0 0 931,042 0 0 184,578 14 6 924,777 7 11 8,027 9 4 11,597 5 6 6,264 12 1 8.027 9 4 6,033.923 0 0 5,700,256 0 8 11,065 4 7 344,732 3 11 j ■ Totals .. .. .. 9,706,033 0 0 j ■ 16,709 18 6 i 379,637 0 0 9,343,105 18 6 .. 362,927 1 6 16,709 18 6 i 379,637 0 0 ■ ' " — ~^~' \ iOj I \J*j In O 9,706,033 0 0 9,343,105 18 6 362,927 1 6 " Includes i'233,754 19s. 5d. additional appropriation authori: >propriation authorii ized by the Public Keveuues Act, 1908. section 39. zed by the Public Bi iveuuefi Act, 1908. section H9.
8.—6
Table No. 3. The PUBLIC DEBT of NEW ZEALAND on 31st March, 1911.
32
Annual Ohah<4K. AMot'N'i or ITWTAHDUiO. 1)1 K DATK. f= '« Bate. (KMAKKs. tiHHARKR. Canterbury Loan Ordinance, 1862 I Amount. When payable. Int. S.F. 6 1 1,064 30 June and 31 Deo. 3,000 12.200 t - 0) i 2 Jan., 1915 i 1 "'- U " , 2 July, 1916 I 40,000 1 July, 1919 125,000 31 Oct., 1UI2 1 400 000 ■■' 30 Se P'- 1915 1 wo ' w,, [30 Sept..1915 \ (1 May, 1911 I 1 May, 1915 .„ J 1 Feb., 1917 ■ .yj.-uo m 1May 1915 1 Feb.. 1917 I I 1 Jan.. 1922 ) , 1 Jan.. 1918 stnn nun ■ ! J an.. 1911 \ *m< 000 ' i j an .. 1918 ) I 1 Jan., 1921 50,000 1 Jan., 1921 1 ISO 000 ' 1 A P ril - 1912 M j 1 April. 1910 I . 1 Aug., 1915 I ■' I Uan., 1910 130 June, 1915 30 June, 1914 1 Mar., 1915 . o 07 500 ' 30June,1915 *«,MXJ i Aug.. 1915 I 1 Feb., 1917 ; 30 June. 1917 ' V Uan.. 1922 \ ,30 June, 1915 1 Mar., 1915 75.000 J 1 Feb., 1917 1 Fell., 1922 I 1 Feb., 1928 1 ( 1 Feb., 1917 i „ ! Uan., 1918 5b,900 - 1 peb 1917 I ( 1 Jan., 1918 1,700,871 . £ £ •Jl,fi40 Or. 6,440 40,000 125,000 398,000 2,000 100,000 117,000 42,590 10,000 12,600 17,300 25,650 450 23,900 150,000 50,000 100,000 30,000 1,781 110,000 75,000 1,600 30,000 2,000 3,300 17,500 68,100 50,000 1,200 20,600 1,500 1,700 50,350 1,150 3,000 2,400 21,640 1,679,231 ... District Railways Purchasing Acts, 1885-86 Native Land Purchases Act, 1892 Lands Improvement and Native Lands Acqnisi j tion Aot, 1894 ( Hutt Railway and Road Improvement Acts, 1903, 1905, 1907, and 1910 398,000 2,000 100,000 117,000 42,590 10,000 17,300 25.650 4o0 23,900 150,000 I .. 1,600 j 1 Jan. . 1 July. 3J .. 4,375 :S0 April 31 Oot. 34 I .. 13,930 31 Mar. .. 30 Sept. t '.. 80 31 Mar. 30 Sept. I .. 3,500 1 May .. 1 Nov. 34 .. 4,095 I 1 May „ 1 Nov. 3| .. 1,491 1 Feb. , I Aug. 4 .. 400 1 May , 1 Nov. 4 i .. r>04 1 Feb. .. 1 Aug. 4 .. 692 1 Jan. . 1 July. 898 1 Jan. . 1 July. 1 .. .. .. Debentures not presented at 4 .. 956 j 1 Jan. and 1 July. due date. I .. 6,000 1 1 Jan. . 1 July. :'.', .. 1.750 1 Jan. , 1 July. 34 .. 3,500 ' 1 April .. 1 Oct. 34 .. 1,050 1 April . 1 (Jet. 3J .. 62 1 Feb. . 1 Aug. Maori Laud Settlement Aot, 1905 Maori Land Settlement Act Amendment Aot, 1907 Goal-mines Act, 1908 Dairy Industry Act, 1908 100,000 30,000 438 1,343 110,000 75,000 1,600 30,000 2,000 3,300 17,500 68,100 50,000 1,200 20,000 1,500 1,700 50,350 1,150 3,000 2,400 Government Railways Act, 1908 — Railways Improvements Authorization Acts, 1904-7 ( Finance Act, 1909 34 .. 3,850 30 June 81 Dec. 4 .. 3,000 30 June „ 81 Dec. 4 .. 04 1 Mar. „ 1 Sept. 4 .. 1.200 j 30 June „ 31 Deo. 1 .. 80 1 Feb. .. 1 Aug. 4 .. 132 I 1 Feb. ,. 1 Aug. 4 .. 700 30 June ., 31 Dec. I .. 2,724 1 Jan. .. 1 July. 34 .. 1,750 -30 June .. :(1 Dt> ■. 1 48 1 Mar. . 1 Sept. 4 .. 824 1 Fell. „ i Aug. 1 .. 60 I 1 Feb. . 1 Aug. J .. 68 1 Feb. . 1 Aug. 34 .. 1,762 1 Feb. 1 Aug. 34 .. 40 1 Jan. 1 July. I .. 120 1 Feb. „ 1 Aug. 1 .. 96 1 -Jan. „ 1 July. 62,465 I I Government Railways Amendment Act, 1910 ; Carried forward 1,679,231
8.—6
Table No. 3—continued. The PUBLIC DEBT of NEW ZEALAND on 31st March, 1911— continued.
s—B. 6
33
Anndal Charge. Amount outstanding. Ddf. Date. Sinking Funds. Net Indebted- „„,,, NESS. nate. Iut. S.F. Amount. Wueu payable. Hkmarkk. £ £ £ £ % Brought forward .. .. .. .. 1,700,871 .. 21,640 1,679,231 .. ; Local Bodies' Loans Aot, 1908— Government Loans to Local Bodies Act, 1886.. .. ' 250,300 1 Sept., 1914 .. 250,300 3^ 1250,000 \ 1 Mar., 1915 .. 250,000 3£ 790,000 I 1 Jan., 1916 .. 790,000 3J 395,000 1,901,000 i 1 Mar., 1916 .. 395,000 3$ 416,000 i 1 Mar., 1918 .. 416,000 3* , 50,000 I I 1 June, 1911 .. 50,000 i~ New Zealand Consols Act, 1908.. .. • 46o'366 I * 62 > 166 1 Feb., 1925 . .. ! 460*366 ' 4* New Zealand Loans Act, 1908— New Zealand Loan Act, 1863 .. •• .. 266,300 15 July, 1914 226,802 39,498 5 Consolidated Loan Act, 1867.. .. •• .. 13,000 15 April, 1913 .. 13,000 4 I 8,100 i ( lJuly, 1917 .. 8,100 3J Defence and other Purposes Loan Act, 1870 75,000 100,000 \ 15 April, 1913 .. 75,000 4 16,900 ) ( Uuly, 1917 .. 16,900 4 Immigration and Public Works Loan Act, 1870 ( j 115 April, 1913 .. 363,000 i^ I 17,400 I 15 Oct., 1913 .. 17,400 4 General Purposes Loan Aot, 1878 .. i 10,800 \ 82,900 j 15 May, 1914 .. 10,800 4 { 54,700 I (28 Nov., 1914 .. 54,700 5 (■29,150,302 I ( 1 Nov., 1929 .. 29,150,302 4 Consolidated Stock Act, 1877.. .. \ 14,607,950 50,359,067* ] 1 Jan., 1940 .. 14,607,950 3* I 6,600,815 ) ( 1 April,1945 .. 6,600,815; 3 I 194,200 ( 1 Feb., 1912 .. 194,200 3J Consolidated Stock Act, 18R4.. .. i 3S5,500 - 744,700 -131 Dec, 1914 .. 385,500 3$ , ( 165,000 I ( 1 Jan., 1'JlO .. 165,000 3J Aid to I'ubliu Works and Land Settlement Ait, 1896 .. .. .. .. .. .. 500,000! 15Aug., 1921 .. 500,000 ! 3J / 5d,500 . / : 1916 .. 56,500 3J 200,000 I 1 April, 1912 .. 200,000 3J Aid to Public Works and Land Settlement Act, ' 3,000 m J 1 May, 1912 .. 3,000 I 4 1900 500 ' ao6 ' wu j 1 Feb., 1915 .. • 500 4 41,C00 i 1 May, 1916 .. 41,600 ' 4 V 51,500 I UJIiy, 1923 .. 51,500 \ 4 Carried forward .. .. .. .. 57,124,304 .. 248,442 56,875,862 % 1 £ 62,465 8,761 1 Mar. and 1 Sept. 8,750 1 Mar. „ 1 Sept. 27,650 1 Mar. „ 1 Sept. 13.825 1 Mar. 1 Sept. 14,560 1 Mar. „ 1 Sept. 2,000 1 June 1 Dec. 63 1 Feb. . 1 Aug. 18,415 1 Feb. „ 1 Aug. 15,978 15 Jan. , 15 July. 520 15 April „ 15 Oct. 284 1 Jan. ., 1 July. 3,000 15 April 15 Oct. 676 1 Jan. „ 1 July. H.520 15 April . 15 Oct. 1,256 15 April .. 15 Oct. 696 15 April .. 15 Oct. 132 15 May . 15 Nov. 2,735 15 May . 15 Nov. 1,166,013 1 May , 1 Nov. "Does not include £952,172 511,278 1 Jan. „ 1 July. SJ-per-cent. and £3,059,165 198,024 1 April 1 Oct. 3-percent, stock taken over 6,797 1 Feb. 1 Aug. by the State-guaranteed Adla,493 1 Mar. . 1 Sept. vances Office. 5,775 1 Mar. „ 1 Sept. 17,500 15 Feb.. . 15 Aug. fLo&n "»&y be paid off at 1,977 1 May „ 1 Nov. any time on six months' 7,500 1 Apiil „ 1 Oct. notice being given. 120 1 May „ 1 Nov. 20 1 Feb. „ 1 Aug. 1,664 1 May , 1 Nov. 2,060 1 May . 1 Nov. 2,128,807
8.—6
34
Table No. 3— continued. The PUBLIC DEBT of NEW ZEALAND on 31st March, 1911— continued.
Annual Change. Brought forward I New Zealand Loans Aot, 1908— continued. Kivkix Net Amount outstanding. Dot Date wJJsUI Indebteh- „„, i-CNDh. NESS Kate. Int. S.P. £ £ £ £ <J 57,124,304 .. 248, 442 56,875,802 Remarks. Amount. when payable. 2,128,807 Remarks. Aid to Public Works and Land Settlement Aet,1901 Aid to Public Works and Land Settlement Act, ' 1902 I Aid to Public Works and Land Settlement Aot,1903 Aid to Public Works and Land Settlement Act 1904 .. 32,600 , Uan., 1916 •• 32,600 34 45,000 I 1 Apr., 11)12 .. 45,000 3j 73,400 ,,.,- ,,,„, I lDec.,1911 .. 73,400 4 72,700 W,UW ■■JO Dec, 1911 .. 72,700 4 1.000 I I 1 Dec, 1912 .. 1,000 4 300 ' \ 1 Jan., 1916 . 300 j 4 125,000 11 I 1 Deo., 1912 .. 125,000; 3£ 542,900 670,900 J 1 Dec., 1912 •• 542,900 4 3,000 IJ I I Jan., 1922 .. 3,000 4 61,525 f 1 Jan., 191li .. 61,525 3J 25,000 I 29 Deo., 1911 .. 25,000 4 r>.000 J 1 Jan., 1912 •■ 5,000 4 1,000 j 1 Jan., 1914 .. 1,000 4 25,000 I 30 June. 1914 .. 25,000' 4 1.000 I- s ... , „ H UaV., 1915 .. 1,000 1 198,465 ' I Uan., 1916 .. 198.465 4 200,000 ! 1 Feb., 1916 ■• 200,000 4 12,900 1 Jan., 1922 * .. 12,900 4 12,500 1 Jan., VMS ■■ 12,500 4 299,800* j 1 Feb., 1924 .. 299,800 4 566,200 1 Jan., 1912 .. 566,200 4 , .. 1,141 Uan. and 1 July. 1,687 1 April „ 1 Oct. 2,936 1 June ., 1 Dec. 2,908 29 June . 29 Dec. 40 1 June . 1 Dec. 12 1 Jan. „ 1 July. 4,375 1 June „ 1 Dec. 21,716 1 June „ 1 Dec. 120 1 June , 1 Dec. 2,153 1 Jan. . 1 July. 1,000 j 29 June , 29 Dec. 200 1 Jan. ,. 1 July. 40 1 Jan. „ 1 July. 1.000 30 June „ 31 Dec. 40 ; 1 Jan. ., 1 July. ' 7,938 1 Jan. .. 1 July. . 8,000 1 Feb. .. 1 Aug. 516 1 Jan. „ 1 July. 500 ! 1 Jan. ,. 1 July. 11,992 ! 1 Feb. . 1 Aug. 'Loan may be paid oft at anytime on six months' notioe 22,648 1 Jan. . 1 July. being given. Aid to Public Works and Land Settlement Act, 1905 i Aid to Public Works and Land Settlement Aot, 1906 Aid to Public Works and Land Settlement Act. 1907 Aid to Public Works and Land Settlement Act. 1908 { Carried forward 500.000 i „..,, nnn I 1 July. 1916 •■ 500,000 1 439,000 I J " iJ - uuu l Jan., 1921 .. 439,000 4 500,000 i / 1 Jan., 1922 .. 500,000 3J 99,800 I • J Uan., 1912 .. 99,800 4 40,000 ■ 1,000,000 1 Dec. 1912 .. 40,000 4 5,000 1 Jan., 1917 .. 5,000 4 355,200 I I Uan.. 1922 .. 355,200 4 200,000 I (Uan.. 1922 .. 200,000 3} 16100 i nmnnn 1 Jan.. 1915 .. 16,100 4", .. 178.900 I,uou - " UU Uan., 1922 .. 178,900: 4 1105.000 I I Uan., 1923 .. 605,000 I 50,000 I I 1 April, 19J6 .. 50,000 3J .. 100,000 250,000 1 April, 1912 .. 100,000 8} .. 100,000 ) 113 Nov., 1913 .. 100,000 4 .. 62,617,594 .. 248,442 62,369,152 20,000 1 Jan. 1 July. 17,560 J 1 Jan. .. 1 July. 17,500 ! 1 Jan. ., 1 July. 3,992 1 Jan. , 1 July. 1,600 1 June „ 1 Deo. 200 : 1 Jan. .. 1 July. 14,208 j 1 Jan. . 1 July. 7,000 ; 1 Jan. ,. 1 July. 644 I 1 Jan. ,. 1 July. 7,156 1 Jan. . 1 July. 24,200 Uan. , 1 July. • 1,750 1 April „ 1 Oct. 3,750 1 April .. 1 Oct. 4,000 13 May ., 13 Nov. 2,343,329
35
B.—fi
6—B. 6,
Table No. 3— continued. The PUBLIC DEBT of NEW ZEALAND on 31st March, 1911— continued.
I I Annuai. Charge. Amoumt o\ Nkt UTSTANDIMO. Due Date. Kcnds° Indebted- Kate. Int. S.P. i Amount. When payable. I1H.MA11KI • E Brought forward Aid to Puulio Works and Land Settlement Act, 1910 The Naval Defence Act, 1909 Finance Act, 1909 Public Revenues Act, 1908 (Reserve Fund Securities Act, 1907) Post and Telegraph Act, 1909 Public Works Act, 1908— Paeroa-Waihi Railway Aot, 1903 .. 26*738 Waikaka Branch Railway Act, 1905 .. .. .! Scenery Preservation Aot, 1908 .. ?o'()00 State Fire Insurance Act, 1908 Wellington-Manawatu Railway Purchase Aot, 1908 Waihou and Ohinemuri Rivers Improvement Act, 1910 .. .. .. The Publio Debt Extinction Act, 1910 .. (52,617,594 .. 218,442 62,369,152 208,950 31 Deo., 1914 .. 208,930 3£ 823,750 31 Dec, 1914 .. 823,750: 3J 1 247,900 1 April, 1915 .. 247,900 3* B00, 000 1 Aug., 1912 .. 800,000 8J 200,000 1 July, 1915 i .. 200.000 3i I -, „,. [3lMar.,19ia s() .,.. : I 80,214 130 Sept ,1912 If •• S0 ' 2U 3 r>3.476 1 May, 1915 .. 53,476 8 .. 1 in onn ' 1 MiV ' 19n ! 40 ooo V, ,(),00 ° i 1 Nov., 1916 i ■• ■ 4U,OlU "* •• ■) nno 1 M»v 1Q11 I 1.500 3 J .500.000: 1 Mar., 1916 i .. 500,000 4 100,000 1 A'i<r.. 1918 .. 100,000 3J 65,673,884 248,442 65,425,442 % £ 2,343,329 3J 1 7,313 78,831 8,677 1 Jan. and 1 July. 1 Jan. „ 1 July. Sinking Fund payable on 1 Jan. . 1 July. £1,250,000. Sinking Fund payable on £1,250,000. 3j 3J 28,000 7,000 . 1 Feb. . 1 Aug. 1 Jan. . 1 July. 3 2,406 31 Mar. . 30 Sept. 3 1,604 1 May ,. 1 Nov. 3i 1,400 j 1 May . 1 Nov. i 3J 4 52 20 J May .; 1 Nov. i 1 May . 1 Nov. 1 1 20,000 8,500 144,885 1 Mar. „ 1 Sept. 1 Feb. „ 1 Aug. i On £65, 000 , 000 for 191 1-12. Add Sinking Fund in respect of— The Government Loans. to Local Bodies Acta .. The War and Defence Loans Investments in Securities inoluded above on account Ne.v Zealand Consols Investment Account Investments in Seourities held under the Publio Revenues Aot, 1908 (Reserve Fund Securities Act, 1907) .. Bank of New Zealand Preference Shares held by Government .. Totals 799.001 192,691 335,^40 800,00(1 500,000 2,627,532 65,673,884 .. 2,875,974 62,797,910 2,627,532 62,797,910 2,647,017
8.—6
36
Table No. 4. Particulars of the Public Debt transferred to the New Zealand State-guaranteed Advances Office, and Loans raised by, or on behalf of, that Office for which the Dominion is indirectly liable, as at 31st March, 1911.
jj . Annual Charge. Amount outstanding. T)ne Date. Indebtedness. Bate, j Amount. ; When payable. RAISED BY TREASURY AND TRANSFERRED. The Land for Settlements Act, 1908. £ f £ : % ! £ 814,766 31 October, 1912 814,766 j 3£ ; 28.516 30 April and 31 October. 5,000 1 January, 1915 5,000 3£ ' 225 1 January and 1 July. 10,000 1 February, 1915 10,000 :)l 450 ; 1 February and 1 August. 650 1 August," 1915 650 3£ 28 1 February and 1 Aujiiisi 76,150 1 January, 1916 76,150 3| '■ 2,665 1 January and 1 July. 62,000 1 April, ' 1916 62,000 3£ : 2,170 1 April and 1 October. 27,000 1 May, 1916 27,000 8$ ' 945 1 May and 1 November. J 4,925 1 January, 1918 44,925 3£ 1.572 1 January and 1 July. 345,400 1 April, 1912 ; 345,400 ! 3| 12,952 1 April and i October. 7,700 1 January, 1916 7,700 I 3f 589 ] January and 1 July. 99.000 1 October, 1911 99,000 4 3,960 1 April and 1 October. 8,600 1 November, 1911 8,600 14 344 1 May and 1 November. 171,850 1 January, 1912 171,850 , 4 6,873 ] January and 1 July. 50,165 1 January, 1912 50,165 4 2,006 1 April and 1 October. 82,800 1 February, 1912 82,800 ; 4 3,312 : 1 February and I August, 39.500 1 April, 1912 39,500 4 1,580 1 April and 1 October. 45,300 1 May, 1912 45,300 4 1,812: 1 May. and 1 November. 50,000 1 April, 1913 50,000 ; 4 2,000 1 April and 1 October. 281,500 30 June, 1914 i 281,500 4 11,260 : 30 June and 31 December. 84,300 ■ 1 July, 1914 84,300 . 4 3,372 , 1 January and 1 July. 77,475 1 January, 1915 77,475 ' 4 3,099 [ 1 January and 1 July. 308,990 1 February, 1915 ! 308,990 4 12,359 1 February and 1 August. 10,000 1 March. 1915 10,000 4 400 1 March and 1 September. 91,550 1 August, 1915 91,550 ; 4 3,661 j 1 February and 1 August. 158,985 1 January, 1916 158,985 : 4 6,359 j 1 January and 1 July. 60.120 1 February, 1916 60,120 ; 4 2,404 j 1 February and 1 August, 38J5OO 1 April, 1916 38,500 4 1,540 j 1 April and 1 October. 28,700 1 May, 1916 28,700 4 1,148 ! 1 May and 1 November. 128,300 30 September, 1916 ; 128,300 4 5,132 i 31 March and 30 September. 413,000 1 January, 1917 [ 413,000 4 16,520 ! 1 January and 1 July. 135,000 1 February, 1917 j 135,000 4 5,400 j 1 February and 1 August. 67,675 1 January, 1918 67,675 4 2,707 1 January and 1 July! 38,000 1 February, 1920 38,000 • 4 1,520 | 1 February and 1 August. 168,700 1 January" 1921 168,700 4 6,748 \ 1 January and 1 July. 422,700 1 January, 1922 422,700 I 16,908 1 January and 1 July. 39,950 1 January. 1922 39,950 I 1,597; 1 April and 1 October. 27,400 1 February, 1922 27,400 : 4 1,096 1 February and 1 Augusi . 45,000 1 April, 1922 45,000 , 4 1,800 1 April and 1 Octol er. 100,000 1 August, 1922 100,000 j 4 4,000 1 February and 1 August. 83,950 1 January, 1923 83,950 i 4 3,357 1 January and 1 July. 40,000 1 April, " 1923 40,000 ; 4 1,600 1 April and 1 October. 126,000 1 May, 1923 126,000 4 5,040 J 1 May and 1 November. 77,000 L5 March, 1925 77,000 I 4 3,080 j 15 March and 15 September. 4,993,601 The Government Advances to Settlers Act, 1894. Extrusion, 1901. 300,000 23 October, 1912 300,000 3.1 10,500 1 June and 1 December. 80,000 5 June, 1915 80,000 8j 2.800 1 June and 1 December. 380.000 The Government Advances to Settlers Act, 1908. 450,000 23 October, 1912 450,000 I 3J 15,750 1 June and 1 December. 105,000 1 June, 1915 105,000 3i 3,675 i 1 June and 1 December. 676,100 1 April, 1912 676,100 3| 25,354 ! 1 April and 1 October. 275,000 1 December, 1911 275,000 4 11,000 | 1 June and 1 December. 117,300 29 December, 1911 117,300 4 4,692 i 29 June and 29 December. 85,000 15 January. 1912 85,000 4 3,400 15 January and 15 July. 100,000 13 November, 1913 100,000 1 4,000 13 May and 13 November. 12,900 1 January, 1914 12,900 1 516 ! 1 January and 1 July. 17,500 15 January, 1914 17,500 4 700 15 January and 15 July. 100,000 1 March, 1916 '■ 100,000 4 4,000 1 March and 1 September. 45,000 1 July, 1922 45,000 4 1,800 ' 1 January and 1 July. 1,983,800
37
8.—6
Table No. 4- continued. Particulars of the Public Debt transferred to the New Zealand State-guaranteed Advances Office, and Loans raised by, or on behalf of, that Office for which the Dominion is indirectly liable, as at 31st March, 1911- continued.
* The sum of £4,011,337 is charged as follows :— Land for Settlements Account —■ £ Advances to Settlors Account — £ 3-per-cent. Stock .. .. 89,166 3-per-cent. Stock .. .. 2,990,000 :U „ .. .. 812,172 3J .. .. 140,000 3,130,000 881,337 £881,337 J Total .. .. £4,011,337 Note. —Under section 30 of the New Zealand State-guaranteed Advances Act, 1909, a sinking fund of 1 per cent of capital moneys raised for the purposes of each branch is invested with the Public Trustee.
Amount outstanding. Dm- Date. •w 4. Annual Net Indebtedness. Rate. I Amount. Charge. When payable. RAISED BY TREASURY AND TRANSFERRED— continued. The Government Advances to Workers Act, 1908. £ £ £ % £ j 205,000 1 January, 1912 205,000 3.'. 7,175 1 January and 1 July. 25 000 1 June, * 1915 25,000 3| 875 1 June and 1 December. 1 April, 1912 133,500 3f ; 5,006 j 1 April and 1 October. 15,000 1 July, 1922 15,000 4 600 1 January and 1 July. 378,500 The Consolidated Stock Act, 1877. 952,172 1 January, 1940 952,172 3£ 33,326 1 January and 1 July. 3,059,165 1 April, 1945 3,059,165 , 3 : 91,775 1 April and 1 October. ■— 4,011,337*1 ! I I The New Zealand State-guaranteed Advances Acts, 1909-10. (Advances to Settlers.) 1,501,135 31 December, 1914 1,501,135 3£ , 52,540 j 1 January and 1 July. 1,501,135 (Advances to Workers.) 29L265 31 December. 1014 291,265 3£ 10,195 1 January and 1 July. 291,265 Total 13,539,638 — i i RAISED BY SUPERINTENDENT. The New Zealand State-guaranteed Advances Acts, 1909-10. (Advances to Settlers.) 100.000 1 October, 1848 100,000 3£ j 3,500 1 April and 1 October. 100,000 I (Advances to Workers.) 75 ) 0O0 1 June. 1917 75,000 4 3,000 1 June and 1 December. 100,000 30 June. 1925 100,000 4 4,000 30 June and 31 December. ! 175,000 I (Local Authorities Branch.) t00 000 1 April, 1947 400,000 3£ 14,000 1 April and 1 October. 475000 1 October. 1947 475,000 3J- 16,625 1 April and 1 October. 100000 1 April, 1948 100,000 M, 8,500 1 April and 1 October. 1 October, 1948 400,000 I 3£ 14,000 1 April and 1 October. — 1.375,000 S I (Land for Settlements Branch.) 33,000 1 April 1918 ! 33,000 4 1,320 I 1 April and 1 October. — 33,000 I (Native Land Settlement Branch., 20 000 I October, 1947 20,000 700 1 April and 1 October. 16L600 1 October. 1948 3J 5,656 | 1 April and 1 October. —- 181,600 Total 1,864,600
B.— 6
38
Table No. 5. Statement of the Estimated Liabilities chargeable on the Consolidated Fund (Revenue Account) outstanding on the 31st March, 1901, 1902, 1903, 1904, 1905, 1906, 1907, 1908, 1909, 1910, and 1911.
31st March, 1901. 31st March, 1902. 31st March, 1903. 31st March, 1904. 31st March, 1905. 31st March, 1906. 31st March, 1907. 31et March, 1908. 31st March, 1909. 31st March, 1910. 31st March, 1911. Bevenue 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 Land Act National Endowments £ s. d. 505 0 0 930 1 4 136 IS 0 1,757 0 1 a.asm 19 s £ s. d. 793 6 6 881 7 0 £ s. d. 622 14 5 15,000 I) 0 36 3 4 I £ s. d. 588 12 11 1,284 3 '.) £ s. d. 951 4 11 859 10 4 372 14 8 i E s. d. 4(>0 7 6 li 1 t s. d. 287 8 8 j 849 11 8 £ a. a. i ■m2 0 8 8,541 18 6 k B. d. 663 15 10 6,324 6 0 S, s. d. ! £ b. d. 765 18 4 ; 753 11 8 3,939 B 9 I,*68 11 K) 318 1 0 120 ii 0 174 0 0 760 0 0 J 1,046 0 0 •■ 1,757 0 1 1,757 n I 1,757 0 1 1,757 o 1 1,757 0 1 1,757 (i 1 1,757 0 1 2,787 11 3 •• •• 17,541 17 10 3,803 16 9 3,654 0 5 5,675 19 3 6,988 1 10 7,492 13 4 i 2,212 3 6 7,492 13 4 '< 2,212 3 6 Annual Appropriations,— Legislative Department of Minister of Pinance* Postmaster-General Working Railways Public Buildings Maintenance and Improvement of Roads 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 of Agriculture Minister of Education 0 3,3ZB J.» D 51 1 2 4,419 14 6 28,276 0 0 90,777 9 »3 SI 0 0 2,542 4 7 44,050 0 0 6 0 11 12,893 9 7 15,750 17 1 112 l'J 6 9,587 1 9 3,202 0 2 1,724 2 11 ana A.1& 7 fi 3,328 19 5 3,744 14 7 3,940 10 0 3,112 13 8 3,654 0 5 51 1 2 II 8 I ill 1(1 2 85 16 2 76 15 7 \> 6 184 3 9 lit 1 9 ' 38 19 6 62 3 5 176 2 0 4,419 14 6 28,276 0 0 90,777 9 -3 SI 0 0 2,256 16 11 34,029 0 0 95,972 4 10 312 16 6 l,7'2O 4 6 32,902 0 0 109,375 4 0 470 5 7 2,534 15 4 28,750 0 0 t09,146 17 3 1,294 0 5 2,866 0 4 2,878 12 5 28,481 0 0 34,910 0 0 108,054 11 6 103,381 3 5 724 11 5 723 15 11 1,990 18 9 2,102 11 8 12,807 17 6 10,685 15 10 4,269 11 1 36,725 0 0 119,289 0 0 850 14 3 2,150 13 8 43,550 0 0 156,471 0 0 848 18 10 2,308 0 9 41,703 0 0 191,727 0 0 832 0 4 1,600 11 3 1,780 15 0 42,545 0 0 49,039 0 0 129,131 0 0 143,363 0 0 663 9 4 ■ 1,543 1 9 2,542 4 7 44,050 0 0 6 0 11 12,898 9 7 } 5,750 17 1 2,323 11 2 21,688 8 0 2,033 16 0 10,601 5 11 2,097 12 10 10,544 0 0 2,559 3 5 6,773 13 4 37 0 0 3,242 15 3 f 533 16 0 |1,558 15 3 130 12 8 2,498 14 5 16,562 17 9 15 0 1,746 8 1 6,071 19 1 3,620 12 3 1,297 17 5 3,097 8 4 3,944 2 6 1,690 16 1 3,027 5 9 10,583 14 7 1,912 5 10 0,765 16 7 236 10 8 I 3,312 2 2 ! 1,002 8 5 ! 5,924 14 2 j 8,428 13 4 I 50 2 6 I 3,611 7 6 448 0 0 6,733 2 11 6,788 1 3 7.398 6 2 3,152 2 10 30 16 8 7,477 2 11 11,549 i 5 112 19 6 9,587 1 9 3,202 0 2 1,724 2 11 203,474 7 5 3,662 1 1 390 14 2 2,131 2 4 3,673 5 6 1,411 10 7 180,575 4 8 ■■ ! 6,991 IS 7 2,990 19 6 629 15 4 6,029 1 10 8,390 2 0 724 11 8 5,076 0 7 7,040 16 11 198 2 2 203 15 0 1,571 15 8 1,662 13 1 292 10 2 351 3 9 5,250 14 2 1,710 1 5 10,000 11 11 6,033 18 6 3 0 11 8,798 0 7 370 17 8 4,293 5 4 485 2 0 4,561 5 9 10,552 12 5 2,638 3 0 8,297 3 4 170 9 3 2,730 0 8 1,185 7 10 18,811 17 4 7,166 16 6 327 4 10 1 8,309 10 2 2,469 19 1 959 8 9 412 5 5 4,761 16 5 6,768 15 8 2,818 1 9 4,044 10 7 255 18 5 1,979 15 7 182,963 3 0 175,710 2 3 177,390 15 7 171,695 1 4 204,456 15 3 783 19 3 250,113 2 3 280,144 10 8 211,357 15 8 1233,514 11 7 ■1 Services uot provided for 25 0 0 203,474 7 5 25 0 0 . ! 21 9 0 6 11 10 10,922 12 3 647 9 1 Totals .. .. 2 200,828 6 10 200,828 6 10 184,319 19 3 200,505 0 10 179,513 19 0 181,331 6 7 174,829 4 0 208,894 14 11 255,795 13 4 287,132 12 6 229,773 1 3 1236,374 4 2 ■ I ! lative and Crown * Includes Rates oi irown Lands. f Includes Law.
8.—6
39
Statement of the Estimated Liabilities chargeable on the undermentioned Separate Accounts outstanding on the 31st March, 1901, 1902, 1903, 1904, 1905, 1906, 1907, 1908, 1909, 1910, and 1911.
Table No. 6. Statement of the Estimated Liabilities chargeable on the Public Works Fund outstanding on the 31st March, 1901, 1902, 1903, 1904, 1905, 190 6, 1907, 1908, 1909, 1910, and 1911.
31st March, 1901. 31st March, 1902. 31st March, 1903. 31st.March, 1904. 31st March, 81st March, 1905. 1906. 31st March, | 1907. 3lBt March, 31st March. ; 31st March, 1908 1909. 1910. 31st March 1911. i. I t Annual Appropriation Public Woiks, Departmental Railways Utilization of Water-power .. Development of Water-power Irrigation and Water-supply Public Buildings Lighthouses and Harbour-works Tourist and Health Resorts Immigration Roads Development of Goldiiuldti .. Native Lands Purchases Telegraph Extension Rates on Native Lands Contingent Defence Lands Improvement MisoellaneouR £ B. d. £ s. d. 1 . I £ s. a. ; £ s. d. £ s. d. £' B. d. £ s. a. £ s. (1. £ s. d. £ s. £ s. d. 97 18 4 761,628 0 5 £ s. d. 47 3 3 687,004 6 2 t s. d. 34 0 0 636,640 12 11 591,995 19 0 113,537 8 2 217,089 1" 113,057 16 6 1 210,656 18 10 196,099 10 88 1 11 3 18 (i 210,242 III 1 97 18 4 47 3 797,179 18 4 761,628 0 5 687,004 6 73,375 2 4 10,313 l<1 7 27,812 6 11 902 9 1 2,579 5 6 .. 84,596 9 o 1,760 7 11 1,186 8 0 36,338 8 3 506 6 5 4.911 14 5 .. 38,887 18 5 01,907 11 8 316 5 5 158 10 8 2,285 6 3 39,046 16 7 34,813 6 4 637 0 0 21,805 19 8 667 4 1 109,681 12 2 2,616 18 3 .. 60,328 4 8 52,457 9 5 200,406 17 83 10 1 793 6 3 286 0 12,446 16 2 7,369 12 9 5,142 4 7 15 0 2,857 14 0 159 0 132,260 17 2 155,275 0 4 69,553 9 4,101 12 1 4,400 10 8 2,290 16 52,457 9 5 793 6 3 7,369 12 9 2,857 14 0 155,275 0 4 4,400 10 8 200,406 17 3 286 0 7 5,142 4 4 159 0 0 69,553 9 4 2,290 16 2 212 13 6 1 0 0 221,135 14 6 347 5 7 442 1 9 22 0 0 157,326 0 0 2,034 4 7 447,388 i 5 2,010 15 0 100,224 16 3 8,116 6 7 249,281 1 9 300 0 0 4,566 0 0 27,409 0 0 355 '2 2 72 II 0 80,787 i 7 2,038 14 7 7,298 0 0 43,877 0 0 355 15 8 4,240 0 0 11 7 6 98,326 1 7 139,080 6 4 1,794 16 3 2,886 10 5 4,580 11 8 51 5 4 30,114 0 0 83,295 0 0 300 0 0 360 0 0 38,151 0 0 13,329 0 0 ! 381 0 5 : 393 9 4 j 26,989 0 0 22 14 8 140,000 0 0 43,873 0 0 370 19 8 17,832 13 2 75,110 5 1 669 15 0 65 13 0 828 11 8 103,550 0 0 68,837 0 0 39 310 0 11 0 0 iiAo r\ a ,')ni i Q 68,837 0 0 303 9 8 407 11 11 39 310 0 0 221 18 9 574 14 11 71,904 0 0 33 5 10 1,973 12 0 303 9 8 221 18 1,155 6 7 407 11 11 574 14 1,025 3 0 I •• •• .. • • • • i • ■ .. • • Total:425,802 0 9 526,671 19 6 1,111,124 15 1 1,054,427 13 91,004,996 10 9 1,092,106 10 8 1,292,095 12 0 316,274 7 4 586,565 19 3 293,422 7 11 ]457,139 4 4 I I
1 31st March, 31st Maroh, 31st March, 31st March, 1901. 1902. 1903. 1904. £ B. d. £ s. d. £ s. d. £ s. d. I 1,067 16 0 251 16 4 780 1 8 217 0 2 | 331 19 0 3l8t March, 1905. 31st Marcb, 1906. 31st March, 1907. 31st March, 1908. 31st March, 31st March, 1909. 1910. 31st March, 1911. State Forests Account State Coal-mines Account .. Scenery Preservation Account Land for Settlements Account Maori Land Settlement Act Aocount Loans to Local Bodies Account Hauraki Plains Settlement Account Paeroa-Waihi Railway Account Wellington-Hutt Railway and Road Improvement Account Waikaka Branch Railway Account Railways Improvements Account Cheviot Estate Account State guaranteed Advances Account Public Truetee's Account Government Life Insurance Account Government Aocident Insurance Account State Fire Insurance Account National Endowment Account Opening upCrown Lands for Settlement Account Native Land Settlement Account Rangitaiki Land Drainage Account .. £ s. d. 527 4 8 18 19 1 £ s. d. 225 19 0 £ s. d. 1,730 15 10 £ s. d. 1,326 3 4 £ a. a. £ s. d S81 17 1 161 8 4 £ s. d. 161 8 4 13,606 4 9 113 7 0 1,664 14 5 £ 8. d. 559 1 0 14,547 3 9 83 8 0 2,849 17 1 4,820 11 0 990 4 3 3,540 9 1 8,076 13 7 33,259 0 4 1,125 5 5 3 189 0 0 3,038 5 6 8,636' 2 11 16 8 3 6,194 3 8 53 18 8 4,900 0 10 747 4 7 2,656 2 8 682 0 4 3.455 18 3 6 12 9 5,499 11 6 13,606 4 i 18 'J 1 113 7 ( 2,544 3 8 1,664 14 I 150 7 0 5,978 4 7,645 12 i 551 17 3 759 7 S 3,505 9 2 6,087 13 6 7,645 12 8 759 7 9 21 19 2 '.'. '.'. '.'. 4,29615 11 896 2 10 7,851 17 8 19,707 1 6 8,422 0 0 8,671 0 0 520 17 10 20,304 0 0 19,638 0 0 15,320 0 < 15,320 0 0 15,324 0 0 '.'. 23 18 0 7,85611 8 33,809 0 0 22,494 0 0 19,277 0 ( 6 12 0 129 12 7 355 7 I 7,756 8 7 1,213 14 9 2,553 7 I 682 1 11 614 14 ■ 632 9 L0 790 18 I 19,277 0 0 31,352 0 0 48 12 9 28 7 2 103 19 4 132 4 10 24,871 10 0 326 11 0 562 6 4 355 7 6 318 11 5 .. 1,238' 5 4 1,019 3 6 1,06915 2 2,553 7 0 614 14 4 790 18 0 725 5 0 432 10 0 543 18 4 904 15 10 4,945 3 0 10,376 0 0 178 18 3 142 15 3 '.'. '.'. 1,214 0 6 450 0 0 88' 6 8 •• •■ 725 5 i .. .. i
8.—6
40
Table No. 7. STATEMENT showing the Total Ways and Means of the Public Works Fund and the Total Net Expenditure to the 31st March, 1911.
I WAYS AND MEANS. £ s. d. NET EXPENDITURE. Loans;— £ s. d. j Expenditure on— i; s. d. t b. d. Immigratiou and Public Works Loan, 1870 .. 4,000,01)0 0 0 Immigration .. .. .. .. .. 2,228,23111 6 Immigration and Public Works Loan, 1873 .. 2,000,000 0 0 Publio Works, Departmental .. .. .. 676,805 18 3 Immigration and Public Works Loan, 1871 .. 4,000,000 0 0 Railways, including Surveys of New Lines .. 27,500,996 8 3 General Purposes Loan Act, 1873 .. .. .. 750,000 0 0< Roads* .. .. .. .. .. 8,924,941 9 1 New Zealand Loan Act, 1876 .. .. .. 750,000 0 Land Purchases .. .. .. .. 2,069,103 6 6 New Zealand Loan Act, 1877 .. .. .. 2,200,000 0 0! Development of Goldfields .. .. .. 846,958 10 8 New Zealand Loan Act, 1879 .. .. .. 5,000,000 0 0 Telegraph Extension .. .. .. .. 1,878,058 7 10 New Zealand Loan Act, 1882 .. .. .. 3,000,000 0 0j Public Buildings .. .. .. .. 4,691,942 10 3 New Zealand Colonial Inscribed Stock Loan Act, 1882 250,000 0 0 Lighthouses, Harbour Works and Defences .. 1,068,846 5 0 North Island Main Trunk Railway Loan Act, 1882 .. 1,000,000 0 0; Contingent Defence .. .. .. .. 909,98118 5 New Zealand Loan Act, 1884 .. .. .. 1,500,000 0 0| Rates on Native Lands.. .. .. .. 68,67116 10 New Zealand Loan Act, 1886 .. .. .. 1,325,000 0 0 Thermal Springs .. .. .. .. 14,599 13 2 District Railways Purchasing Acts, 1885 and 1886 .. 479,487 7 11 Tourist and Health Resorts .. .. .. 203,272 10 5 New Zealand Loan Act, 1888 .. .. .. 1,000,000 0 0i Lands Improvement .. .. .. .. 62,152 1 7 Native Land Purchase Act, 1892 .. .. .. 149,700 0 O Charges and Expenses of raising Loans .. .. 1,241,906 13 9 Lands Improvement and Native Lands Acquisition Coal-mines .. .. .. .. .. 10,835 8 0 Act, 1894 .. .. .. .. .. 500,000 0 0j Interest and Sinking Fund .. .. .. 218,500 0 0 Aid to Public Works and Land Settlement Act, 1896 1,000,000 0 0. Payment to Midland Railway Bondholders .. 150,000 0 0 Aid to Public Works and Land Settlement Amend- ! Utilization of Water-power .. .. .. 9,368 10 1 ment Act, 1897 .. .. .. •• 280,000 0 0; Irrigation and Water-supply .. .. .. 1,562 8 1 Aid to Public Works and Land Settlement Amend- ; 52.836,735 7 8 ment Act, 1898 .. .. .. .. 500,000 0 0 Aid to Public Works and Land Settlement Act, 1899 1,000,000 0 0 Aid to Public Works and Land Settlement Act, 1900 1,013,100 0 0 Aid to Public Works and Land Settlement Act, 1901 1,250,000 0 0 Aid to Public Works and Land Settlement Act, 1902 1,750,000 0 0 Aid to Public Works and Land Settlement Act, 1903 999,090 0 0 Aid to Public Works and Land Settlement Act, 1904 750,000 0 0 Aid to Public Works and Land Settlement Act, 1905 1,000,000 0 0 Aid to Public Works and Land Settlement Act, 1906 1,000,000 0 0 Aid to Public Works and Land Settlement Act, 1907 1,000.000 0 0 Aid to Public Woiks and Land Settlement Act, 1908 1,250,000 0 0 Aid to Public Works and Land Settlement Act, 1909 1,000,000 0 0 Aid to Public Works and Land Settlement Act, 1910 1,568,350 0 0 The Finance Act, 1909 .. .. .. .. 1,250,000 0 0 The Post and Telegraph Act, 1908 .. .. 200,000 0 0 Midland Railway Petitions Settlement Acts, 19O2-;i.. 150,000 0 0 Paeroa-Waihi Railway Act, 1903 .. .. .. 75,000 0 0 Waikaka Branch Railway Act, 1905+ .. .. 50,000 0 0 44,960,327 7 11 Receipts u> Aid: — Amount transferred from Consolidated Fund .. 8,030,000 O u Contributions of Canterbury Province for Railways.. 56,000 0 0| Stamp Duties to 31st December, 1876 .. .. 264,657 16 4 Transfer from Confiscated Lands Liabilities Account 19,963 1 3 Proceeds of Railway Material handed over to Cook County Council ' .. .. .. .. 4,968 7 4 Special Receipts under section 9 of the Railways Construction Act, 1878.. .. .. .. 60,616 8 0 Special Receipts under the Ellesmere Lake Lands Acts, 1888 and 1893 .. _.. .. .. 48,594 13 5 Special Receipts under the Railways Authorization and Management Act, 1891 .. .. .. 2,267 I 9 Balanoe on 81st March, lull. Special Receipts under the North Island Main Cash in the Publio Aocount .. .. .. 381,258 18 10 Trunk Railway Loan Application Act, 1886 .. 27,581 5 0 Advances in the hands of Offioers of the Government 8,786 13 9| Sinking Funds released .. .. .. .. 506,819 19 3 Investment Acoount .. .. .. .. 750,000 0 0 _ 9,016,453 6 4 1,140,045 0 7 [ £53,976, 7e0 14 3 858,976,780 14 8 • Has been reduced by £ 89,800 recoived under seotion 31 of the Government Loans to Local Bodies Act, 1 t Receipts and expenditure under the Wnikaka Brancli Railway Act. 1905, now inoluded.
41
8.—6
Table No. 8. Estimated Expenditure of the Consolidated Fund (Revenue Account) for 1911-12, compared with Actual Expenditure of 1910-11.
Table No. 9. Estimated Revenue of the Consolidated Fund (Revenue Account) for 1911-12, compared with the Actual Revenue of 1910-11.
Estimate Actual for for 1911-12. 1910-11. Oiffe Increase. Differences. Decrease. Rbvknuk Account. £ £ Civil List .. .. .. .. .. .. 35,500 34,373 Interest and Sinking Fund .. .. .. ..: 2,663,556 2,458,452 Under special Aots .. .. .. .. .. 1,171,535 11,150,025 1,127 205,104 21,510 £ 3,870,591 J 3,642,850 3,642,850 227,741 227,741 Annual Appropriations,— Legislative Departments .. .. .. .. 27,587 37,611 Department of Finance .. .. .. .. 45,584; 48,023 Post and Telegraph Department .. .. .. 1)60,070 911,819 Working Railways Department .. .. .. 2,375,000,2,270,813 Public Buildings, Domains, and Maintenance of Roads .. j 91,477 [ 81,103 ! Native Department .. .. .. .. .. 21,434 | 21,662 Justice Department .. .. .. .. .. 376,830 370,182 Mines Department .. .. .. .. ..! 27,186 22,457 Department of Internal Affairs.. .. .. .. 325,118 1 262,142 Defence Department .. .. .. .. . 384,574 212,939 Customs, Marine, and Inspection of Machinery Depart- 123,832 ; 114,736 ments Department of Labour .. .. .. .. 22,316 22,725 Department of Lands and Survey .. .. .. 251,888; 206,660 Department of Agriculture, Commerce, and Tourists .. 215,202 184,579 Education Department .. .. .. .. 1,017,927 924,777 6,265,975 5,692,228 37,611 48,023 911,819 2,270,813 81,103 ! 21,662 370,182 22,457 262,142 212,939 114,736 48,251 104,187 10,374 6,648 4,679 62,976 171,635 9,096 45,228 30,623 93,150 586,847 48,251 104,187 10,374 6,648 4,679 62,976 171,635 9,096 10,024 2,439 228 4 22,725 206,660 184,579 924,777 45,228 30,623 93,150 409 5,692,228 586,847 13,100 Services not provided for .. .. .. .. .. 8,027 8,027 8,027 i 814,588 21,127 aid Ash H14, 0HH Ol 107 21,127 Total .. .. .. .. 10,136,566 9,343,105 9,343,105 793,461 21,127 793,461
KKtimate for 1911-12. Actual for 1910-1!. £ 3,027,829 3,483,755 819,839 1,027,567 628,723 407,235 118,100 100,026 45,933 327,123 255,032 55,861 Differences. Increase. Decrease. £ t 27,829 41,245 40,761 67,433 , 0,277 2,765 3,100 4,319 : 933 11,027 ' 16,482 6,504 180,331 48,344 48,344 j Revenue Account. Ordinary Bevenue, — Customs Railways Stamps Postal and Telegraph Land-tax Income-tax.. Beer Duty Registration and other Pees .. Marine Miscellaneous Territorial Revenue Endowment Revenue s. 3,000,000 I 3,625,000 860,600 1,095,000 635,000 I 410,000 115,000 104,345 I 45,000 ' 338,150 .. I 238,500 : 63,866 Total 10,429,010 10,429,010 131,987 1 10,297,023 ] ■ •
B.—R
Table No 10. Statement showing the Amount charged to "Unauthorized" in each Financial Year from 1st July, 1875, to 31st March, 1911.
42
Consolidate t» Fund.—Reve; iCE Account. Financial Ykak. Excess of Votes. Other Xrrol'NTS. Public Woiiks i Punp. i Total Services not provided for. 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 .. J904-1905.. 1905-1906.. 1906-1907.. 1907-1908. . 1908-1909. . 1909-1910. . 1910-1911.. £ a. d. 13,167 4 8 18,397 17 1 1 19,079 12 6 11,413 16 1 , 5,818 9 9 6,151 13 9 ! 8,899 16 3 i 4,473 15 8 7,293 9 9 5,981 17 8 9,337 11 2 14,337 19 7 7,303 17 10 3,521 18 2 4,412 5 3 10,610 1 0 2,288 3 2 1,741 7 10 2,350 7 0 8,985 3 7 22,422 16 10 3,188 L7 7 2,258 19 7 3,305 15 11 11,187 13 8 I 26,367 18 6 ! 3,836 7 0 9,027 S 4 i 3,344 11 0 6,215 4 8 8,£76 16 7 4,989 9 1 4,133 3 8 14,127 8 1 15,324 5 7 10,427 9 4 £ 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 H 47,106 10 3 38,117 13 5 42,104 15 10 35,157 16 5 43,257 1 0 715,778 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 50,890 5 1 23,100 14 0 27,200 14 6 £ s. d. £ a. d. 32,363 1 9 3,155 9 2 31,790 4 1 3,490 6 1 77,789 9 8 653 6 5 58,880 0 6 3,938 14 8 24,284 11 10 1,005 3 10 43,977 0 3 13,443 11 3 42,374 15 0 13,590 6 10 69,104 15 10 12,343 2 2 52,577 12 3 9,003 18 7 45,021 15 7 7,163 15 8 56,444 1 5 13,965 10 1 52,455 18 0 6,212 16 7 49,408 13 8 27,821 16 11 38,679 ]4 7 I 13,506 2 8 47,669 6 3 23,631 7 1 87,388 6 11 5,459 18 11 23,314 19 6 , 9,183 10 6 30,025 8 9 4,754 17 10 9,726 14 4 522 12 2 18,133 4 0 . 1,890 7 5 38,652 2 7 : 16,995 9 9 27,384 0 4 i 24,726 3 6 41,573 12 11 4,743 17 10 39,773 16 9 2,304 8 10 71,840 7 3 89,156 18, 662 7 7 72,702 17 9 253 8 10 110,103 15 8 200 0 0 51,120 2 4 2,248 6 6 28,324 16 10 13,547 11 7 60,962 0 -2 ' 23,956 9 10 33,548 15 8 12,867 10 8 41,846 12 2 429 9 0 65,017 18 2 15,257 11 1 58,424 19 7 3,500 7 0 37,628 3 10 1,009 9 7 1 £ B. 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 1 6,955 4 10 12,837 3 6 1 9,584 9 11 31,862 8 3 19,965 16 2 ] 55,556 14 10 ] 80,170 3 3 ] 16,641 15 7 11,638 18 8 12,833 7 5 £ 8. d. 99,394 2 7 ! 37,483 14 7 100,452 10 1 ' 94,997 16 3 12,886 5 5 91,554 8 9 58,182 11 (i 89,585 15 11 93,323 8 8 53,057 11 9 76,875 8 11 87,302 0 8 107,637 12 10 70,819 0 1 88,088 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 6 123,140 19 2 62,952 18 9 73,734 16 8 104,884 6 2 101,973 0 9 122,446 4 5 96,916 19 10 53,564 5 3 51,471 0 10
7—B. 6,
B.—fi
APPENDIX.
45
8.—6
Return showing the Loss of Revenue sustained upon Importations into New Zealand from 1st January, 1891, to 31st December, 1910, owing to Remissions in Tariff.
W. B. Montgomery, Secretary of Customs. Department of Trade and Customs, Wellington, 6th[September, 1911.
B—B. 6.
Reduced Tariff Rate Items. Ypproximate Duty remitted. From To Belting, other than leather Candlis Carriages, car-chassis Coffee, raw Cotton piece-goods .. .. Cream of tartar Drugs, chemicals, &o. .. Fruits, dried Glass, plate, other kinds Glass, window Iron pipes and fittings.. Laces Linen piecegnode Machinery, Bgricultural, dairying, gasniaking, mining, wood-working, and w>ollen-mi'ling Mate ea Mustard .. .. O.ls, kerosene.. Oils, other kinds Paperhangings Bice Salt .. Sheep-shears .. Spines, unground Sugar Tea .. Turpentine Wax, paraffin, and stearine Wire fencii'g .. Wool packs All other items Loss through drawback 20 per cent, ad valorem 2d. per lb. 20 per cent. 3d. per lb. .. "" 20 per cent, and 10 per cent. Id. per lb. 40 per cent, and 25 per cent. 2rl. per lb. 15 per cent. .. • 29. per 100 sup. ft... 5 per cent. 25 . 1 :: " .. 20 . ■ / ■ " '.. 5 per*cent. and 20 per cent. Free ljd. perlb. Free 20 per oent. ad valorem • Free £ 43,749 90,744 112,586 41,536 194,652 21 ,549 113,219 396,507 18,553 17,248 26,790 10,697 22,430 95,228 - 20 per cent. Free Is. 4d. and 2s. per gross boxes 2d. per lb. 6d. per gallon Gd. 15 per cent. 4s. per cwt. 10s. per ton 20 per cent. 2d. per lb. id. . 6(1. „ 6d. per gallon ljd. per lb. Is. and 2s. per cwt. 2a. 63. per dozen Various Is. and Iβ. 4d. per gross boxes Free .. .. 13,276 1,500 1,073,159 .46,912 22,717 201,085 83,864 9,343 16,930 752,453 1,357,361 40,962 52,076 183,953 82,313 142,154 86,500 5,322,048 2d. per lb. and free Free Id. per lb. and jd. per lb. .. Free Various Total ..
B.'= i -6;
46
Return showing the Total Loss of Customs Revenue in New Zealand on Tariff Items altered by Tariff Act, 1907, during each successive Year.
W. B. Montgomery, Secretary of Customs. Department of Trade and Customs, Wellington, 6th September, 1911.
Tariff Item. Reduction in Bate of Duty. "3 I 4 Eds Jl 5 "otal Lose to ilsOlarcta, 1911. Acid, tartaric Soda, carbonate and bicarbonate Motor cnr chassis .. Cortm piece-goods, uncnumeruted 1H. per lb. to frfe .. Is. jxrcwt. to free .. £ 203 450 £ 622 668 £ 51? 811 £ 628 944 £ 1,96.") 2,873 £ 107 173 £ 2,072 3,046 20% pins 10% to free 20% and 10% to fr.e j 13,779 ; 7,000 38,374 57,490 24,53-'' 57,90: J 39,110 79,254 115,798 201,652 10,817 20,283 132,615 221,035 Laces Kihbons anff crape .. Crtam of taitar 25% t" 20% •25% to 20% Id. pli.s Jd. per lb. to f ee Jn , . per lh. to free .. 15% to free Id. and 2d, per lb. to fre 20% plus 10% to free 2e. |lun Is. per 100 flip. ft. to free 20% to <ice 20% to free 2d. per lh. to free .. 25% to 20% Various 15% pill- 7J% to fre. 2d. per lh, to free .. 25% to 20% •id. p- r II). told.perlii. Jd p»r lh. to free .. 10% t - free Is 61. percwt. to'ree 20% to free plus 10% 5% to free Various .. 4,43: 3,012 3,200 2,188 2,972 2,757 10,607 7,957 761 738 11,458 8,(380 Ma : z~na and cornflour Fooris, farinaceous Fiuits, dried - 650 8,001 1,650 2,508 56,724 6,556 1,731 2,247 67,341 6,992 1,8-2 2,221 63,308 21,540 5,!>1'.' 7,081 227,592 1.54C 372 769 14,808 23,095 6,291 7,805 242,400 40i219 GlasR, plate, other kinds Glass, window 6,361 7,455 5,67f) 3,795 6,517 5,998 18,553 17,248 1,646 1,427 20,199 18,675 Stflples, fencing I.ineti piece-goods .. Mustard .. Aiticles made up from textileOils Paperhanpings Spice*, ui ground .. Silks Bue S'gar Eleo'ric macliinery Lead, in sbtets C rk , cut.. Iron i iprs and fittings Oihfrit niR By drawback 944 1,000 1,500 459 2,102 2.(00 2,700 553 59,557 8fi7 354 1,762 3,190 3,000 10,000 a, 737 7,16f 1.828 1:109 13,Oir 7,02* 6,41: 2.850 1,14' 207,725 minus 483 l,50r 8,405 10,00: J 7,000 12,500 1,61P 7,694 1,98.'. i.r-8 13.223 5,9!):. 4,02! 2.OR4 l>075 246,38'. 2,521 7,576 2,045 1.2-2P 15.805 7,702 3,784 2,950 1, ' 05 238,782 7,820 23,430 7.358 3,1)77 44,80!) £2.717 16,980 7,803 4,278 752,458 434 4,017 8,870 30.5S0 23,637 22,000 1,621,437 155 1,990 40!) 352 4,208 1, 15n l,108i 1,017 2-12 58,12.5! 1.1C8 324 444 2,665 9,466I 211 8.275 25,420 7.7K7 4,829 49,012 23,873 18,098 8,910 4,515 ! 810,578 1,602 5,241 9.814 33,245 I 33,103 22,521 1,76' l,06 c 7,158 6,064 1,204 1,785 9,620 7,573 Totals 152,889 472,953 478,823 516,772 I 142,637 I 1,764,074
8.—6.
Return showing the Increase of Revenue collected on Items on which the Rates of Duty were increased by the Tariff Act, 1907, for the Years 1907, 1908, 1909, 1910, and the March Quarter, 1911.
W. B. Montgomeby, Secretary of Customs. Department of Trade and Customs, Wellington, 7th September, 1911.
47
Items. Increase Increase d villi,' during 1907. 1908. Increase dnr ng 1909. Increase during 1910. T"tal fncrease to 31st Dec, 1910 Increase during March Quarter, 1911. Total Incrnase to Slst M«.r-h, 1911. Cartridges and cartridge-cases Boots and shoes Brushes, brubhware, and brooms Candles.. G >coa and chocolate Confect'i nery C rk, cut Butt r and oViees"-cloth .. Drugs, ohemicals, medicinal preparations .. Fruv, bottled and preserved Furniture-, knife-, and plate-powder, &o. .. Hosiery Iron pipes and fittings .. Instruments, musical Ma hinery— C ish- registering maobines Electric Mining Pr nting Other kinds—locomotives, steam-engines, and unenumerated Matches Metal manufactures Mouldings and panels Oils Toilet preparations Provisions Photographic goods S"ap Stationery Handbills Tobacco pipes and cases .. TIT £ 881 1,547 1,231 1,555 £ 3,337 16,925 4,032 3,984 448 421 692 353 9,596 1.049 261 11,960 2,170 1,381 4,056 i 12.618 ! 2,267 5,256 683 678 1,290 750 9,081 1,802 414 7,742 2,014 I 881 £ 4,411 19,223 2,670 4,731 799 841 1,483 740 11,845 2,235 497 8,201 1,792 1,142 £ 12,685 50.313 10,200 15,526 1,930 1,840 3,465 1,843 34,697 5,086 1,172 32,389 6,689 4,0S5 £ 1,687 6,2G2 796 626 170 215 339 107 2,487 510 61 2,619 971 203 £ 14,342 56,575 10,996 16,152 2,100 2,055 3,804 1,950 37,134 5,f>'.'6 1,233 8"i,O08 7,660 4,288 3 [575 4,480 713 681 178 280 2,179 634 514 3,050 468 ! 45S J 4,868 1,123 3,134 717 539 3,056 2,095 8,363 1,819 997 10.154 215 632 176 11 1,306 2,310 8,995 1/J95 1,008 11,460 116 2*114 130 425 203 304 15,571 912 1,612 372 644 139 505 2,759 2,881 1,213 2,041 578 20,218 725 2,569 845 2,535 739 J 632 511 944 2,947 1,877 1,223 2,0'J8 706 9,908 I 1,680 3,375 810 3,088 1,091 601 778 1,425 3,213 1,731 1.5S6 3,202 1,443 16,891 2,709 21,645 2,992 7,438 2,202 1,877 1,428 2,874 8,919 7,432 4.022 - 8,304 2,787 52,340 438 683 231 451 228 128 178 266 501 308 362 515 257 4,287 3,147 22,896 3,223 7,8-*9 2,430 2,005 1,606 3,140 9,480 7,740 4,384 8,819 3,044 56,627 943 963 Wax .. Woodenware Other items 5,323 Totals 22,944 111,571 87,709 ! 110,093 332,317 28,206 360,523
8.-6
48
MEMOBANDUM OF EAILWAY EEDUCTIONS, CONCESSIONS, AND IMPBOVEMUNTS FBOM THE YEAE 1895 TO THE YEAB 1911. The concessions made by the Government in connection with the railway fares and freights include reductions of ordinary and suburban passenger-fares, season-ticket rates, travellers' ticket rates, inauguration of workers' 2s. tickets on suburban lines, granting of concessions to newspaperreporters, to delegates of religious bodies, judges attending shows, pupils attending schools, the extension of concessions in regard to passengers' luggage, commercial passengers' luggage, theatrical companies' luggage, reduction of the rates on parcels, racehorses, hounds, hunters, poloponies, milk, bicycles, abolition of additional charge for goods carried over branch lines, abolition of the rate previously charged over the Biinutaka Incline, reduction of the rate on store stock, show stock, frozen meat, grain, wool, butter, cheese, artificial and other manures, guano, manure salt, rock salt, lime, flax, linseed, flour, peas, corn-sacks in bales and bundles, sheep-dip, stock-foods, and numerous articles of everyday use by all classes of the community, which are, however, too numerous to particularize in the brief space that can be allotted in the Budget. New stations have been erected at many of the principal towns, and, in addition, large sums have been spent in improving the station - buildings and erecting verandahs at a considerable number of the less importaut stations. Siding and yard accommodation generally has been improved and enlarged materially. The safety of the public has been increased by the establishment of interlocking, installation of the electric-tablet and lock-and-block apparatus, equipment of rolling-stock with Westinghouse brake, relaying of track, respacing of sleepers, strengthening bridges, and replacement of wooden bridges with up-to-date iron and steel structures. Tractive power of locomotives and carrying capacity and efficiency of rolling-stock have been greatly increased, train services increased and speeds accelerated, workshops enlarged, and equipment improved by gradual installation of up-to-date machinery and appliances. The policy of building within the Dominion in the railway and private engineering establishments the whole of the rolling-stock required, propounded in 1900 and 1901, has been rigidly adhered to since that date, thus finding steady employment for a large number of skilled artisans, and circulating among the tradespeople of the country large sums of money that would under the policy of previous Governments have been sent out of the country to pay 'for foreign rolling-stock. No imported stock has been placed on our lines since 1902. The amount expended by the Government since 1890 in providing additional accommodation, establishing interlocking, block, tablet-working, telegraph, rolling-stock, and equipping same with Westinghouse brake amounts to over four millions and a quarter, and, in addition, the sum of two millions and a half has been spent in relaying track and respacing sleepers. When the lines were taken over from the Commissioners in 1895 the wages paid to the staff were found to be very low. The Government at once took the matter in hand and passed legislation resulting in improvement of conditions. Further improvements were made in 1897 and 1899. The effect of these was that in four years the low-paid men of the Bailway service received an addition of £51,542 to their wages. The position was further improved by Classification Acts of 1901 and 1907. Cadets' salaries were increased from a minimum of £30 to a minimum of £50, with increments to £200 per annum in twelve years. The wages of junior platelayers, porters, and labourers have been increased from 3s. per day (with increments of 6d. per day to a maximum of 6s. 6d.) to a minimum of 55., with increments rising to Bs. in five years. In 1895 it took a junior eight years to reach 6s. 6d. per day. To remove the disabilities under which the Second Division men and casual employees laboured in respect to pay when off duty, these men were brought under the operation of the Workers' Compensation for Accidents Act, and given the benefits thereof. A Superannuation Fund was established in 1903, the contributions being fixed at a low rate, the State guaranteeing the sufficiency of the Fund. From Ist April, 1903, to 31st March, 1911, 1,341 persons have been placed on the Fund, and of this number 1,061 were receiving the benefits of the Fund at 31st March last, the annual charge on the Fund at that date amounting to £54,144, and the accummulated fund, £207,243. Epitomized, the position since the Government took control of the railways in 1895 is— £ Concessions in fares and freights ... ... ... ... 1,150,000 (Benefits accruing to agriculturists and pastoralists from reduced fares and freights included in above, £650,000) Concessions in pay and hours of railway staff ... ... 870,000 Additional train-services, many of which have been laid on to give increased facilities and conveniences to the people of the Dominion ... ... ... ... ... ... 1,250,000 £3,270,000 T. Bonayne, General Manager. Head Office, Railways, Wellington, 6th September, 1911.
B.—ft.
49
Return showing the Value of the Concessions made to the Public by the Post and Telegraph Department from 1891 to 31st August, 1911. £ On postages .. . • •■• • • • • • • • 224,304 On parcels-post .. . • • • • • • • • • • ■ 21,569 On telegrams .. .. • • ■ ■ • • ■ ■ • ■ 77,438 On cables .. •• 25,113 On telephone-exchanges .. .. • • • • • • • • 6,021 On money-order and postal-note commission .. . ■ . • 21,600 On private-box rentals .. .. • ■ •• • ■ •'■ 1,700 On account of reduced charges for rural telephones .. .. .. 1,000 £378,745 D. Robertson, Secretary. General Post Office, 6th September, 1911.
Post and Telegraph Concessions from December, 1890, to 31st August, 1911.
Date. Nature of Concession. Nature of Concession. i Reductions in Postage. _ 1891—Jan. Oct. 1901—Jan. 1906—Nov. 1908—Jan. Letters. For the United Kingdom, from 6d. per £ oz. to 2|d. per \ oz. For all countries beyond New Zealand, except Australia and South Sea Islands, from 6d. to Is. 2d. per £ oz. to uniform 2£d. per \ oz. Establishment of universal penny post. .. ! Reduction on inland rate from Id. per \ oz. for each 4 oz. Reduetionjof inland rate to Id. for 4 oz. and £d. for each 2 oz. thereafter. 1893 1901—Jan. Letter-cards. Introduction of. .. From l£d. to Id. - Post-cards. , 1891—Oct. 1898—Feb. 1901—Jan. 1907—Oct. Der. For the United Kingdom, from 2d. to ljd. per card. For other British and foreign countries, except Australia : formerly not admitted, rate made l|d. per card. Increased size of, to in. byj3|in. .. From ljd. to Id. Sending a post-card not bearing a communication of thej nature of a letter at printed-paper rates. All post-cards may bear writing on the address side. Labels giving the addresses of the sender and receiver may be attached. Cards with Christmas and New Year wishes limited to five words may be sent at the printed-paper rate. Reduction of postage inland from Id. to'^d. 1907—Dec. Reply-paid Post-cards. Reduction of postage, if in Dominion, from 2d. to Id. 1891—Oct. Commercial Papers (Including Accounts, <fec). For delivery in town in which posted, from Id. per \ oz. to Jd. up to £ oz. For other places within the colony, also Australia, from 2d. per \ oz. to Id. up to 4 oz. (For Australia subsequently altered to 2£d. up to 10 oz. and £d. for eachjjadditional 2 oz.). ! For other countries, including United Kingdom, from 6d. to Is. 2d. per \ oz., reduced to 2Jd. up to 10 oz. 1891—Oct. Books, Printed Papers, &c. For places within New Zealand, from 8d. per pound to 4d. per pound. For foreign countries from between Is. 4d. and 2s. 8d. per pound to 4d. per pound.
8.—6
50
Post and Telegraph Concessions from December, 1890, to 31st August, 1911— continued.
Date. Nature of Concession. Newspapers. 1891 —Oct. .. For foreign countries, from between Is. 4d. and 2s. 8d. to 4d. per pound. 1904 —March .. Reduction in rate of postage to United Kingdom and all British Possessions in the penny-postage scheme to Id. per newspaper. Australia limits to 20 oz. Nov. .. Reduction in rate of postage to Natal and Ceylon'to Id. per newspaper. Dec .. Reduction in rate of postage to Id. per newspaper to Federated Malay States, Johore, Malta, Sarawak, Straits Settlements, Transvaal, and Trinidad. Registered Magazines. 1899 —Jan. .. Establishment of at Id. for first 8 oz. and |d. for each succeeding 4 oz., as against Id. per 2 oz. as printed paper, gft 1908 —Jan. .. Reduction of postage to Id. per pound. Registered Letters. 1908—Jan. .. Reduction of fee from 3d. to 2d. Redirected Correspondence (of all classes, except parcels). 1891 —Oct. .. Redirection-charge abolished. Stamped Envelope. 1904—Mar. .. j For reply with sample a stamped envelope may be enclosed. Unclaimed Letters. 1904 April .. , Return to writers of certain classes of unclaimed letters made earlier. Reply Coupons. I ;•< '7 Oct. : Issue of, to prepay a reply'to a letter addressed to a place abroad. Letter-carriers , Deliveries. 1908— Jan. .. Increase of frequency in business portions of four large centres. Post-office Attendance,. 1908 —1st Sept. Extension of hours of attendance to public at four principal post-oftioes. from (to take effect 9 a.m.-5 p.m. to 8 a.m.-8 p.m. from) Private Boxes. I'.' ,,1 - , 1st Jan. Reduction of rental at places where there is no letter-carrier's delivery, from £1 (to take effect to 10s. per annum, from) Embossed Envelope. I'.ioh Oct. .. New envelope at Id. for business and social correspondence. Sold at rate of 11 for Is. or 5 for 6d. Call-box System. 1909—Jan. .. Call-box system introduced on 1st January, 1909. Reduction of Inland Postage Rate for Registered Magazines. 1910 —Oct. . . Inland postage rate for registered magazines reduced to " Each copy not exceeding 8 oz. Jd.; every additional 8 oz, or fraction, Insured-letter System. 1910 —Dec. .. The insured-letter system inaugurated with the United Kingdom. 1911- 1st July .. Letters addressed to European and many other countries may be insured if sent via London and by the Suez route only. The charge is at the rate of 8d. for each £12 of insured value. Parcels. 1891 —Jan. .. For inland delivery, from 7d. to 6d. for the first 1 lb. and 3d. each succeeding 1 lb. 1907 —Jan. .. For inland delivery, reduced to 4d. for first 1 lb. and 2d. each succeeding 1 lb. 1891 —Oct. .. For Australia, from Is. 2d. and Is. 6d. for first 2 lb. and 7d. and 9d. each succeeding 1 lb., to 8d. for first 1 lb. and 6d. each succeeding 1 lb., the different rates to different States.
51
B.—o
Post and Telegraph Concessions from December, 1890, to 31st August, 1911 — continued.
Date. Nature of Concession. ! Parcels —continued. 1897—Jan. .. For the United Kingdom, from Is. 6d. up to 2 lb. and each additional Lib. 9d.,- to Is. for 1 lb. and 6d. each succeeding 1 lb. 1899 —April .. Arrangement with United Kingdom for delivery free of Customs charges. 1901—Jan. .. For the United Kingdom. Is. up to 3 lb. ; 2s. to 7 lb. : 3s. to 11 lb. 1899—April .. Establishment of insured-parcel system. 1907 —Oct. .. Increase of maximum amount up to which a post-parcel to certain countries may be insured from £50 to £400. Money-orders, die. 1904 —Oct. and ■ Increase of maximum amount of single order for United Kingdom, Fiji, Hong Nov. Kong, Natal, and Transvaal to £40. Dec. .. Increase of maximum amount of single order to Australia to £40. 1907 —July . . Introduction of advico-of-payment system. 1908 —Jan. .. ' Reduction in rates of commission. 1897 .. I Introduction of telegraph money-order system between Australian Colonies and New Zealand. 1893 —Sept. .. J Currency of postal-notes made unlimited. 1908—Jan. .. j Postal-note poundage reduced. 1904 —June .. Sale of British postal orders introduced. I'wtt-Oflice Savings-Bank. 1904—Jan. .. ; Removal of limit oi amouni of interest-bearing deposits : non-mercantile societies. May .. Deposits made on 2nd of month to bear interest for that month when 1st is a Sunday or Post Office holiday. Aug. .. Acceptance of deposits without pass-book from Education Boards for credit of School Committees. 1907 —Jan. . . Increase of limits of interest-bearing amounts to £30(1 and £600. Sept. . . Nomination by depositor of payee on his behalf. 1908—Nov. .. Home savings-bank safes to be issued to depositors on application. Telegraph. 1892 —Feb. .. Inland ordinary telegrams formerly Is. for first ten words and Id. for each additional word (address and signature free up to ten words). Maximum number of words in inland telegrams (with free address and signatures up to six words) increased from ten to twelve in text for minimum rates. Aug. .. Maximum number of words in text and signature for minimum charge made eighteen. 1896 —June .. Inland telegraph-rates further reduced to 6d. for first twelve words, and Id. for each additional word, address and signature being charged for. Delayed telegrams (half former rates for ordinary telegrams) abolished at same time. 1906 —Nov. . . Rate for ordinary inland telegrams reduced to \d. per word, with minimum charge of 6d. Urgent rates made double the reduced charge for ordinary messages. 1908 —Jan. .. Extension of free telegram-deliver}'. 1909 —Jan. .. Copies of Press telegrams supplied for fee 6d. per 100 words plus search-fee of Is. or 2s. 6d. Mar. .. Rate of Press messages lodged at Wakapuaka between 11 p.m. and midnight reduced to 8d. per 100 words. April .. Rate on Press messages and cable news for morning newspapers handed in between 8 a.m. and midnight amended by allowing a margin of a total of seven words in excess of the 100 charged for in classes 3, 5, and 6 of tariff rates in Post and Telegraph Guide. Aug. .. Press cable rate to United Kingdom reduced from Is. to 9d., and rate to United States America and Canada reduced in corresponding manner. 1909 —Nov. .. Press telegrams for evening papers received between 8-10 a.m. Mondays, at 6d. per 100 words in place of Is. per 100 words between 5-5.30 p.m. on Sundays. 1895 —Dec. .. Introduction of system of transmission of telegram to or from any telephonesubscriber by telephone. 1904—Sept. .. Reduction of postage and registration charges on telegrams from one country to another from 5d. to 2£d. 1907 —May .. Fee for delivery of telegrams for unregistered code addresses reduced to 6d. 1908 —Jan. .. Telegram forms embossed with 6d. stamp. Feb. .. Fee for books of interleaved, telegram forms reduced from Is. to 9d. 1907 —Aug. .. Charge for Press telegrams for evening papers on departmental holidays reduced from Is. to 6d. for each 100 words or fraction thereof.
8.—6
52
Post and Telegraph Concessions from December, 1890, to 31st August, 191 1— continued.
D. Robertson, Secretary. General Post Office, 6th September, 1911.
Authority : John Mackat. Government Printer, Wellington.—l9ll.
Date. Nature of Concession. 1893—Jan. 1902—June Dec. 1904—Sept. Cable Telegrams. International rate reduced from 10s. 6d. to 5s. 2d. per word. Intercolonial rate reduced from 9s. 6d. for first ten words and Is. each additional word, to 3s. for first ten words and 5d. each additional word. Intercolonial Press cable rate (New Zealand - Australian cable) reduced from 3d. to Id. per word. Ordinary rate to Great Britain reduced to 3s. 4d. a word. Ordinary rate to Great Britain reduced to 3s. a word. Reductions also made on foreign messages. " Code " extended to include words, real or artificial, which are capable of pronunciation in any of the admitted languages. Letter cipher may be used in private telegrams, five letters to a word. Groups, such as "fga" (foreign general average), counted five letters to a word. Reduction of charges to places beyond the Dominion from 3 to 2 rates for New Zealand lines when telegrams marked " Urgent N.Z. Lines." Convention Regulation XVII c : Request for repetition of suspected error in cable messages now charged for actual number of words to be repeated at single rate —tariff charge for one way only. Nov. 1909—July 1891—Oct. Telephone Exchange. Telephone-exchange subscriptions reduced froni £10 and £9 per annum the first year and £8 the second, £7 second connections, to one uniform rate of £5 for first half-mile for business connections and one mile for private-residence connections, and £1 each subsequent mile or fraction of a mile, with £1 entrancefee. 1897—April (Note. —Rates raised at exchanges which give a continous (all day and all night) service to £7 per annum for business connections ; 10s. each additional quarter of a mile after first half-mile for business connections or one mile for privateresidence connections.) Where number of connections justifies continuous attendance, such attendance may be obtained at an all-round subscription of £6 per annum in the place of £7 for business connections and £5 for private connections. Hours of attendance fixed at 8 a.m. to 8 p.m. when number of subscribers reaches fifty. Abolition of fee of £5 5s. per annum for telephoning telegrams to nearest telegraphoffice at country places, and reduction to £1 per annum or 3d. per message of same fee in principal towns. Premises of any hospital or any benevolent or charitable institution duly acknowledged by Minister of Telegraphs may be connected with a telephone exchange at half the regulation rates or charges : but in the event of new lines being required for such institutions the institutions shall ;i;i v the cost of the new lines in addition to the half-rates herein mentioned. Charge for telephoning telegrams abolished at all but chief post-offices. Charges for bureau-communications assessed minute by minute, with a minimum charge for three minutes, in lieu of charging a fixed fee per period of three minutes or fraction thereof. Half-rates charged for bureau-communications between 8 p.m. and 8 a.m. l<107 May 1908— Juno Jan. 1909—May Dec. Nov. Nov. 1911—Mar. Telephone-extensions. Only half-deficiency on telephone-lines to be guaranteed by settlers instead of whole deficiency as before ; interest on cost of construction calculated at 3£ per cent, instead of 5 per cent., and charge for stationery not included in estimated expenditure. 1904—Mar. Debentures. Sale of Government 4-per-cent. debentures through the Post Office.
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Bibliographic details
FINANCIAL STATEMENT (In Committee of Supply, 8th September, 1911) BY THE MINISTER OF FINANCE, THE RT. HON. SIR J. G. WARD, BART., P.C., K.C.M.G., Appendix to the Journals of the House of Representatives, 1911 Session I, B-06
Word Count
44,197FINANCIAL STATEMENT (In Committee of Supply, 8th September, 1911) BY THE MINISTER OF FINANCE, THE RT. HON. SIR J. G. WARD, BART., P.C., K.C.M.G. Appendix to the Journals of the House of Representatives, 1911 Session I, B-06
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