B.—No. 2b

8

FINANCIAL STATEMENT.

£ s. d. The Engineer's estimate of. the total cost of the Eailways authorized, but not yet contracted for, is ... ... 2,005,110 0 0 From which may be deducted the above estimated cost of rails ordered or contracted for on account of lines not yet begun or contracted for ... ~. 289,168 0 0 £1,715,942 0 0 From this has also to be deducted the above balance available, of 451,321 2 10 Leading the amount of ... ... £1,264,620 17 2 yet to be provided; besides, the cost of raising, Departmental charges, and any Interest and Sinking Fund, vhich may be capitalized. Looking at these facts, and the contingencies, always attachable to Engineer's estimates, I think I am not far from the mark in estima jng that the Colony will have to provide at least an additional million and a-half before it can complete the Railway works already authorized. This position of affarfe I would, however, have the Committee to understand does not require to be dealt with at present. The balance of cash on hand, £845,096 17s. 6d., is sufficient not only to carry on, during the current year, the works already contracted for, but also to enable the Government during the current year, to initiate and push forward others of the various works authorized by Parliament. What those may be, the Minister for Public Works will inform the House. Meanwhile, during the recess, it will be the duty of the Government to carefully mature their plans as to the prosecution- of the lines authorized by Parliament, or any other lines which they may consider requisite for the development of the country, and to lay proposals before Parliament next Session for that purpose. We fully recognize that the policy of Railways and Public Works already entered upon cannot be reversed ; and that to be a benefit to the Colony it must be carried oh vigorously, though at the same time with prudence, judgment, and economy. THE IMMIGRATION FUND stood thus on the 10th September :-— Or. £ s. d. The amount authorized to be raised was ... ... ... 1,000,000 0 0 Dr. £ s. d. The expenditure of 1870-71, less credits, was ... 2, 638 7 5 1871-72, „ ... 39,588 12 0 £42,226 19 5 The estimated liabilities up to 31st December, 1872, as given by the late Public Works Minister ' ... ... ... ... 84,058 18 0 Estimated cost of raising £1,000,000, at \ per cent. ... ... ... ... ... 5,000 0 0 131,285 17 5 Leaving a balance of ... ... ... £868,714 2 7 to carry on further operations, and to meet Departmental expenses. THE GOLD FIELDS WATEB SUPPLY FUND stood thus, on the 10th September, 1872 :— Or. £ s. d. £ s. d. Amount authorized to be raised... ... ... 300,000 0 0 Dr. Expenditure, 1870-71 ... ... ... ... 409 0 0 1871-72 ... ... ... ... 2,206 10 6 Estimated total cost, including ironwork, of Thames Water Eace ... ... ... ... 51,495 0 0 Advances to Private Water Eace Companies ... 12,534 0 0 Estimated cost of raising £300,000, at -§■ per cent. ... 1,500 0 0 68,144 10 6 Leaving a balance of ... ... ... ... ... £231,855 9 6 available for further works and Departmental expenses.