8.—2

8

Consolidated Revenue, 1875-76, and 1876-77; shows

Increase of £238,276 6s. 2d.

It will be perceived that, as compared with the previous year, the falling off in the Customs Revenue was but small; that, with three exceptions, there was an increase in every item; and that, notwithstanding the decrease on the items referred to, the revenue of the Consolidated Eund, including the Revenue assets of the year outstanding, shows an increase of £238,276 6s. 2d., as compared with the year preceding. LAND FUND. The receipts of Land Eund for last year (exclusive of Gold Duty) were £1,039,242 4s. Bd., or £419,003 15s. 3d. more than the average for the preceding seven years. Since the Ist January, when the Einancial Arrangements Act came into force, the receipts have been £544,454 6s. 9d., the estimate was £322,610, so that the estimate was exceeded by £221,884; but I regret to say, that although there is a very large increase on the whole, the deficiency is larger than was provided for by the Einancial Arrangements Act. The sales in Canterbury show an enormous excess, while those sales in Auckland, Taranaki, Hawke's Bay, Westland, and Otago, have proved to be less by £83,000 than the sum estimated. In consequence of this deficiency, the whole of the Treasury Bills authorized under the Einancial Arrangements Act, amounting to £150,000, have been issued, and an additional sum of £53,005 19s. 9d. has had to be advanced from the Consolidated Eund in aid of the Land Eund. THE PUBLIC TRUST EUND. The business done by the Post Office Savings Bank has been satisfactory; the number of depositors increasing yearly. The operations of the calendar year are fully set forth in the annual return already in the hands of the Committee. On the 30th June last the total deposits amounted to £720,102 9s. 4d., as against £715,693 10s. 3d. on 30th June, 1876. With regard to the Government Insurance Account, as I propose to bring in a Bill to establish a Board of Management instead of leaving the direction in the hands of a Commissioner, I need not now trouble the Committee with any remarks except to say that the year's transactions have been most satisfactory, and reflect great credit upon all connected with the Department. The rest of the Trust Eunds do not require to be specially brought under the notice of the Committee. EXPENDITURE FOR THE YEAR 1877-78. I now come to the consideration of the Expenditure for the present financial year. We have, through amalgamation and simplification, reduced the cost of most of the departments, although in many cases the work has nearly

Land Fund receipts, 1875-8 (excluding Gold Duty), £1,039,242 4s. Bd.

Treasury Bills and other aids.

Post Office Savings Banks.

Annuities and Insurance Department.

Expenditure, 1877-8.

Heads of Receipt. Revenue of the Year 1875-76. Revenue of the Year 1876-77. Increase. Decrease. Customs—Duties, Rents, Seizures, &c. Bonded Stores Fees, Marine Act, Light Dues, &c. ... Pilotage Rates, Harbour Dues, &c. (6 months)... Stamp Duties Postal Telegraphic Judicial ... Fees —Registration of Land... „ „ Deeds „ „ Births „ Crown Grants Fees and Fines, Sheep Inspection (6 months) ... Fees, Miscellaneous Incidental Receipts £ s. d. 1,225,766 5 5 5,343 3 9 16,591 2 2 £ s. d. 1,199,378 15 0 5,536 19 2 15,806 3 10 4,940 2 9 122,670 18 9 86,547 14 0 63,983 13 1 41,982 13 3 13,646 15 5 16,482 12 6 4,757 3 9 4,053 14 9 3,548 8 6 3,694 15 3 27,552 0 3 £ s. d. £ s. a. 26,387 10 5 193*15 5 4,940 2 9 8,241 9 8 5,891 13 3 13 2 10 3,256 4 9 1,167 19 2 750 5 6 88 1 9 784 18 4 114,429 9 1 80,656 0 9 63,970 10 3 38,726 8 6 12,478 16 3 15,732 7 0 4,669 2 0 4,447 16 7 394* 1 10 3,415 15 4 51,677 10 10 3,548* 8 6 278 19 11 24,125 10 7 Railways (Provincial Lines —6 months only) ... 1,637,904 7 11 63,939 6 2 1,614,582 10 3 285,220 3 10 28,370 3 6 221,280 17 8 51,692 1 2 Revenue Assets 1,701,843 14 1 11,606 11 4 1,899,802 14 1 51,923 17 6 40,317* 6 2 Total Consolidated Revenue 1,713,450 5 5 1,951,726 11 7 289,968 7 4 51,692 1 2 Net Increase ... 238,276 6 2