7

8.—6

opening up land and carrying on settlement. Many of the surveys have been for years in arrear, and the growing demand to open up sufficient country both in the North and South Islands can only be met by providing for a large increase in the staff of field surveyors. A considerable portion of this expenditure will take place in consequence of the cutting-up of runs in the South Island for settlement purposes. The department had before it the responsibility of either increasing the estimate for the surveys or leaving the survey work undone. This question was carefully considered by the Government, and they had no hesitation in coming to the conclusion that the interests of the country required that the surveys should proceed at an equal pace with the demand for settlement. The estimated revenue for the current year consists of cash sales .£44,000, and sales on deferred payments £55,000. The total amounts to £99,000. This is less than the estimate for last year, and less than the actual revenue received, which amounted to £103,241. It would not be safe to estimate for a larger revenue than I have done unless the policy of sacrificing the land for cash is resumed—a policy the Government have not thought it right to pursue. In deference to the opinions expressed last session in the House, I have not amalgamated the Land Fund Account with the ordinary revenue, and the anomaly remains of having to provide for a deficiency in this department out of the consolidated revenue. The excess of expenditure over revenue, it will be seen, amounts to £35,162, which will have to be made good by a transfer from the Ordinary Kevenue Account. I think the time is not far distant when this separate account will have to be absorbed in the ordinary revenue, and the annually-recurring deficit effaced from the estimates. There is less reason now to keep them distinct, as the larger portion of the work done by the Survey Department, and debited to the Land Fund Account, is in connection with perpetual leases; the revenue derived from these being credited as territorial revenue in the Ordinary Revenue Account of the Consolidated Fund. OEDINAEY EEVENUE FOE THE YEAE 1892-93. I have estimated the ordinary revenue for the current year at the sum of: £4,045,800, which, with debentures to be issued against sinking fund increases,: £280,300, brings the total estimated revenue up to the sum of £4,326,100, against £4,361,085 of actual revenue (including £282,300 sinking fund debentures) received last year. I have not. thought it advisable to estimate the Customs duties at the same amount as they actually realised last year. lam thus acting on the side of! caution in estimating the receipts as I have done in consequence of the large amount of imports which came to hand towards the end of the last financial year, and I have thought it advisable to base my calculations upon the actual receipts of the first half of last year. The Stamp revenue is estimated at £622,000, against the actual receipts last year amounting to £600,050. Some large estates of deceased persons will be dealt with in the present year, and the increase is principally in the way of legacy duty. The Railways have been put down at £1,140,000, instead of £1,121,990 : received last year, or an increase of about £18,000. The Commissioners have gone carefully into the prospects of the railways, and they put down this increase as the least that may be expected from this source of revenue. It will be remembered that the increase in the expenditure was" £9,814. The Depasturing Licenses and Rents, termed " Territorial Revenue," are esti- '. mated this year at £195,000, against £206,196 received last year. The decrease of no less than £11,196 in this item may be briefly said to be due—(l) to rents paid in advance early in March of the last financial year; (2) to the selection by the Midland Railway Company of some of their Canterbury area; (3) to temporary loss on runs resumed in Canterbury, Otago, and Southland, which may not be relet or disposed of during the current financial year. There will be an increase in small-grazing-run and perpetual-lease rents, which will partly compensate for the loss, but on the other hand the miscellaneous territorial revenue will be smaller.

Estimated revenue, £99,000.

Not safe to estimate larger revenue.

Table No, 9, Estimated revenue, £4,326,100 for 1892-93.

" Customs " not estimated on actual receipts of last year.

Stamp revenue.

Railways.

Territorial.