8.—2

1873. NEW ZEALAND.

FINANCIAL STATEMENT, (In Committee of Ways and Means, July 29, 1873) BY THE COLONIAL TREASURER, THE HONORABLE JULIUS VOGEL.

Mr. Seymour,— The Committee will, I hope, excuse my not prefacing by introductory remarks the Statement I am about to make. I will only say that it gives me much pleasure to be able to communicate to Parliament information which must satisfy honorable Members that New Zealand has never been in a more sound and prosperous condition. I place before the Committee various Statements and Tables in continuation of those with which honorable Members are familiar. An examination of them will, I am sure, prove interesting; but it is not necessary that I should now detail the results which they make apparent. To some of them I shall no doubt have occasion to refer. THE TEAK 1871-72. I will briefly ask the attention of the Committee to the actual results of the Financial Year 1871-72. It will be recollected that, in making the Financial Statement last year, I anticipated a surplus of £10,562 3s. 3d. with which to commence 1872-73; but that I guarded myself by stating that it was probable further outstanding amounts in respect of 1871-72, might subsequently come in. When, at a later period of the Session, I made a Supplementary Statement, I explained to the Committee that an error amounting to £9,373 9s. lid. had been discovered—that amount, due from Confiscated Lands, having been treated as an asset of the Consolidated Revenue, instead of the Defence Loan. I also explained that £13,372 lls. lid. of additional liabilities, less £2,500 which it was estimated would be saved on the whole of the liabilities, had come in for payment; making a total of £20,246 Is. 10d., and converting the anticipated surplus of £10,562 3s. 3d. into a deficit of £9,683 18s. 7d., with which to commence 1872-73. Those results included assets amounting to £247,471 19s. 9d., less the error of £9,373 9s. lid. before stated. There was thus left a total of £238,098 9s. lOd. estimated assets, of which various items amounting to £232,878 Bs. 6d. have been realized, leaving £6,860 4s. Sd. unrealized. It must not, however, be supposed that that amount is lost; on the contrary, we count upon its being fully recovered, as follows: —Transferable from Consolidated Loan Account, £4,734 175.; from the Province of Auckland, on account of Domain Reserves, £2,101 35.; and from the Province of Wellington, £24 4s. Bd. Apart from these sums, there would be a deficit upon 1871-72 of £16,238 2s. Bd.; but on taking them into account, the deficit will be

New Zealand never more prosperous. Tables appended.

Results of 1871-72. Anticipated surplus of £10,562 3s. 3d.,;

was converted into deficit of £9,683 183. 7d. at commencement of 1872-73 ; but, including assets,