8.—6.

: CONTENTS. ■ PAGE Introduction .. .. .. . v .. . , . . , .. i Revenue ... . . .. .. .. ... .. . , , , i Expenditure .. .. .. .. .. .. .. , . ~ ii Increases in Expenditure .. .. .. ~ .. . , , . iii Result of the Year's Operations .. .. .. . . .. .. , iii Treasury Bills .. .. .. .. .. ~ .. ~ . iv Consolidated Fund .. .. .. .. . . . . . . . . . iv Public Works Fund .. .. .. .. .. .. . , .. . . iv Aid to Water-power Works Account .. .. .. ~ ~ , . v Irrigation and Water-supply Account . . . , .. .. . . . , v State Forests Account .. .. .. . , .. . . . . . . v State Coal-mines Account .. .. .. . . ~, . , , . , . v Scenery Preservation Account .. .. '. . .. .. .. . . v Naval Defence Act Account .. .. .. .. . . . . .. . . v Wellington-Hutt Railway and Road Improvement Account . . . . . . . . vi Railways Improvement Account .. .. . . . . ~ . . , vi Waihou and Ohinemuri Rivers Improvement Account .. . . . . . ... . vi Native Land Settlement Account .. .. . . . . . , . . vi Maori Land Settlement Account .. .. . . , , . . . . . vi Land for Settlements Account .. .. .. . , .. . . ~ vii Loans to Local Bodies Account .. .. .. .. .. , . .. vii Opening up Crown Lands for Settlement Account . . . . . , . . '. vii Hauraki Plains Settlement Account .. .. .. .. ~ ~ . vii Rangitaiki Land Drainage Account . . .. , . . , . . . , , , vii New Zealand State-guaranteed Advances Account . . . . . . , . . . vii Comparison of the General Financial Position . . . . .. .. . , . , viii Public Debt .. .. .. .. . . ~ .. .. .. i x Increase in Indebtedness .. .. . . . . , . . . . . , . x Finance .. .. .. .. .. .. .. .. .. ;. xi Comparison of last Two Loans .. .. .. . . .. .. .. xii Allocation of £3,000,000 Loan .. .. .. .. .. .. xii Loans falling due .. .. . . . . .. ... .. .. xii Charges for Inscription of Stock .. .. .. .. .. .. ... xiii Proceeds of Land Sales .. .. . . . . .. .. . . .. xiii Post Office Savings-bank . . .. .. .. . . .. , , . . xiii Comparison of Post Office Investments in Government Securities . . . . . . xiii Public Debt Extinction .. .. .. .. . . .. .. , . x iy Closing Accounts .. .. .. .. .. .. .. .. .. xiv Public Seivice Reform . . . . .. .. .. .. .. .. xiv Public Service Superannuation Fund .. .. .. .. .. .. . xiv Teachers' Superannuation Fund .. .. .. .. .. .. . w Railways Superannuation Fund ... .. .. .. .. .. . xv Legislative Council Reform .. .. . . .. .. .. .. . . xv Electoral Reform .. .. .. .. .. .. .. .. . . xv State Advances Office .. .. . . .. .. .. .. . . xv Local Bodies-' Loans Act .. .. . . . . . . .. ■ . . . . xvii Local Government Reform .. .. . . .. .. .. .. . . xvii Post and Telegraph Department .. .. .. .. .. .. . . xvii Railways .. .. .. .. .. .. .. .. .. . xvii Stamp Department .. .. .. .. .. .. .. .. . xviii Land and Income Tax .. • .. . . . . .. . . .. xviii Remarks as to Current Revenue .. . . .. .. .. . . xix Agriculture .. .. .. .. . . .... .. .. xix Agricultural Colleges and Experimental Farms . . .. .. .. xx Industrial Matters .. .. .. . . .. .. .. .. . . xx Workers' Dwellings .. .. .. . . . . .. .. .. . . xx