5

8.—15

the landowners of New Zealand own, on the average, ,£l,ooo-worth of land. Such is,>fche result given by Table No. 8, the number being 84,547 and the value of their lands £84,208,230. Another piece of information is that 20,752 of the owners-possess less than <£100-worth, their average being a little over ,£4O each; rather more than half —46,725 —own less than £300-worth, their average being slightly over £140; and 71,261 own less than £1,000-worth. The revenue collected by the department, and the cost, are stated for each year in a table at page 13. The expenditure includes the cost of supplying local bodies with rolls under the Rating Act, administering the Crown and Native Lands Rating Act, also paying subsidies under the Local Bodies' Finance and Powers Act, supplying valuations to the Stamp Department, also of preparing the statistics compiled from time to time. It is estimated that the tax for the year 1890-91 will be collected for an expenditure equal to £1 16s. 7d. on the revenue. J. Spebrey, Property-tax Department, Commissioner. Wellington, 13th June, 1890.

Table No. 1. ASSETS AND LIABILITIES OF THE COLONY. 1st March, 1886, and 31st March, 1889.

1886. 1889. ASSETS. £ & £ & Eeal Property 116,376,659 111,137,714 Personal Property 82,540,315 85,530,210 Eailways .. 13,453,363 14,875,187 Telegraphs 523,727 577,601 Lighthouses 150,895 153,255 Buildings 2,250,000 2,250,000 Harbours 2,500,000 3,000,000 Water-supply, Goldfields 500,000 509,996 19,377,985 21,366,039 Total £218,294,959 £218,033,963 LIABILITIES. 35,680,143 Debt of the Colony, deducting Sinking Fund .. 31,688,349 Debts of Local Bodies .. 5,616,273 6,668,889 Mortgages .. 31,821,109 30,502,231 Indebtedness, exclusive of Mortgages .. 20,365,593 16,661,466 Total .. 89,491,324 89,512,729 Surplus % £128,803,635 £128,521,234 Population (exclusive of Maoris) .7 March, 1886 .. 578,482 March, 1889 .. 610,156