FINANCIAL STATEMENT

15

B.—No. la,

I now beg to move the following Besolutions :— 1. That in order to simplify the relations between the Colonial and Provincial Governments, to remove uncertainty from Provincial Finance, and to facilitate the ultimate reduction of taxation, it is expedient, that the system of Provincial Charges on the General Revenue be abolished, that the Consolidated Fund be at the disposal of the General Assembly, and be charged generally with the Interest and Sinking Fund on the Colonial and Provincial Loans, and with the expenses of the Colonial Government, including the maintenance of the Harbour establishments. 2. That in order to equalize the effect of the above change as between the several Provinces, a sum of £90,000 oiit of the proceeds of the accrued Sinking Funds realized by the operation of the Consolidated Loan Act, be paid to the Province of Nelson, and a sum of £15,000 to the Province of Wellington, and that an annual sum of £12,000 be deducted from the Territorial Eevenue of the Province of Southland in aid of the Consolidated Fund, until the repayment of the Consolidated Loan shall be effected. 3. That annual appropriations in proportion to population be made to the several Provinces and other divisions of the Colony for the maintenance of Gaols and Police. 4: That the above arrangements be brought into operation on the Ist January, 1869; and that leave be given to bring in a Bill for giving effect to these Bt'Bolutions.