8.—2

4

authorized by this loan was appropriated as shown in tho Table which I now present:—

Defence and Otiier Purposes Loan Act, 1870. 30th June, 1875.

The five years have now expired for which the Defence vote was taken, and only £681,703 2s. 4d. has been spent out of the £790,000 authorized, and last year the Defence Loan estimates were relieved by one-half the sum required (£65,000) being charged against and paid out of revenue. The £37,000 appropriated for the redemption of Treasury Bills, and a balance of £9,563 out of the £173,000 for funding provincial debts, not being required for the purposes specified, have not been raised. The total unraised portion of this loan amounts to £179,700, of which, however, £52,700 has been hypothecated to the Bank of New Zealand for a nominal advance of £50,000 —a transaction to which I shall refer again presently. The total expenditure to the 30th June, 1874, being £845,139 14s. Bd., there is a balance of £154,860 ss. 4d. remaining. This balance is, however, subject to charges for liabilities outstanding on the 30th June, £29.545 4s. Od. The balance available for future expenditure will therefore amount to £125,315 Is. 4d., less the charges and expenses of raising. I postpone for the present the consideration of the Immigration and Public Works Loan, 1870, as it will be more convenient to consider the whole of the Immigration and Public Works loans together, and will now take

THE GENEKAL PUEPOSES LOAN", 1873. The following Table shows the appropriation of the £750,000 authorized to be raised by this Act:—

GENERAL PURPOSES LOAN ACT, 1873. 30th JUNE, 1875.

Service. Authorized. Expended to June 30, 1875. Balance. Liabilities. Balance Available. First Schedule :— Defence Serrices — 1870-71 ... 1871-72 ... 1872-73 ... 1873-74 1874-75 £ £ s. d. £ 3. d. £ s. d. £ s. d. 180,000 160,000 150,000 150,000 150,000 160,712 3 1 153,203 19 3 142,415 1 7 143,385 17 10 81,986 0 7 108,206 17 8 37,000 0 0 Redemption of Treasury Bills Second Schedule:— Auckland... ... £50,000 Taratiaki ... ... 6,000 Wellington ... 17,000 Otago ... ... 100,000 790,000 37,000 681,703 2 4 29,545 4 0 78,751 13 8 37,000 0 0 173,000 163,436 12 4 9,563 7 8 9,563 7 8 1,000,000 845,139 14 8 154,860 5 4 29,545 4 0 125,315 1 4

Sebvice. AtrmOEIZED. Expended to June 30, 1875. Balance. Liabilities. Balance Available. Repayment to Immigration and Public Works Loan for Interest and Sinking Fund paid or to be paid therefrom Repayment to Immigration and Public Worka Loan for Grants to Road Boards Grants to Road Boards, 1873-74 1874-75 Telegraph Extension ... Lighthouses ... ... Public Buildings Charges and Expenses raising Loan £ £ s. d. £ a. d. £ b. d. £ s. d. 300,000 218,500 0 0 81,500 0 0 81,500 0 0 150,000 50,000 50,000 50,000 35,000 115,000 50,000 0 0 25,000 0 0 48,712 11 1 3,658 19 11 68,539 2 3 5,168 9 8 150,000 0 0 150,000 0 0 25,000 0 0 1,287 8 11 31,341 0 1 46,460 17 9 Dr.5,168 9 8 1,287 8 11 31,341 0 1 46,460 17 9 -Dr. 5,168 9 8 25,000 0 0 Totals 750,000 419,579 2 11 | 330,420 17 1 223,920 17 1 106,500 0 0