E.—3

14

favourable account to be given next Session of the works executed during the year we have just entered upon. I shall now, Mr. Speaker, only add a short statement of the expenditure under all heads by the Public Works Department. Up to the 30th June, 1873, there was a total expenditure by the Public Works Department, exclusive of Immigration, of £1,649,921 2s. lid., and the expenditure during the year 1873-74 was £1,554,446 4s. lOd. There are outstanding liabilities in England and the Colony of £1,873,688 16s. 4d.; making a total of expenditure and liabilities of £5,078,056 4s. Id. These are large figures, but, Sir, we have large results; and there are few who will be found now to assert that any of the railways which are proposed or undertaken will not, from the moment they are opened, return more than working expenses, and a fair depreciation fund, and, if economically worked will considerably contribute in course of time towards paying interest on the outlay. And with regard to the roads in the North Island, Ido not imagine any one will deny the vast service they have been in opening up and bringing about the settlement of the country. The Colony has undertaken a gigantic work, and it is incumbent on the Assembly to see that it is carried out to its legitimate end, and, Sir, I have no fear as to the result.