, 1876-03-25

nueS to meet the Expenditure but he was sor~
ry to say. this does by far not exhaust the
whole unfortunate state of the finances. The
matter becomes still more grave when 1t be
remembered, that ola series OF 5 years, this Is
the fourth, in which a similar result shews 1T
self between the public Revenue and the
Expenditure. In the very favourable year
1~S7l-72, when the returns OF the crop OF to7l
gave in revenue S210,4 AIS, and the expenditure
was Sl75,25S, we had a surplus of S35,221 )
in the year 1928 the public revenue g.
mounted to SIG ,595 and the expenditure to
S167,O 900 again a surplus of $9,535. Those
two years gave q surplus of altogether
S44,7 S After that the change began. In
to 1913, 693; tho Expenditure to 9l64,4l6.
leaving deficiency of $40, 1928 in 1974-75
the Revenue was $ll7,1l7 and the Expendi-
ture Sl69,875, or a deficiency Of $62,75Sj this
is the most disastrous year the Island has ever
experienced tho accounts for 1S75-76 are
as yet not closed, but the result will also be a
deficiency, estimated at $4,000; then comes
the result of The coming year for which this
drafts submitted. The deficiencies already known
in figures amount then to S63,4Sl besides
$4,000, for the coming year, IN all S9O,4olg
deduct from that the surplus from the two tor
mer wears, S44,7S6, and we arrive at the sum
of S45,7 25 with which the Revenue has tailed
to cover the Expenditure. This, however, IS
not the only evil effects to the Colonial
Treasury. Losses have also been suffered
through Estates, whose crops have been IN
sufficient to cover the bureau-advanceS made
from the Treasury on Bureau Security. How
ever, as far as the actual loss IN this respects
concerned, it would not exceed more than
50 to 5000 for in the amount actually lost,
say 80, 900. must be made allowance for the
Interest gained. But there Is an amount
Of about S56, 900 still unpaid on advances IN
IS73-74 and l874-75, for which, however,
security has been obtained the worth OF TINS
security must, of course, depend upon the
more or less favourable turn the general affairs
of the Island will take hereafter but 1t causes
serious Inconvenience to have so large an
amount locked up, SO that the Administration
is unable to use it, and has to have recourse to
loans to an amount more than would otherwise be
necessary. AS this whole question OF Bureau
loans is of great importance to the Community
in general, and as the true nature OF the case
is but little known, be would now cause to be
circulated among the Councils Members
a detailed Statement showing the amounts
loaned. the interest accrulng thereon ana
the payments made, all since 1869, the first
wear. since the Colonial Law came INTO force, IN
which bureau-loans were granted from the
CoIonial Treasury. The Statement also con-
tains a modification Of the amounts still due
for 1S72-73 to 1874-75, and the security held
therefor. as also of the sums totally lost, or
which at least cannot be considered as being
secured. AS for the amounts advanced on the
present crop, viz. SOS, 900, it is expected that
by far the greater part Will Dc Repaid ana
that whatever loss might arise it will be covered
nv tbe gains of interest.-He then gave q
statement of the Liabilities and outstanding
of the Colonial Treasury. The LIablll-
les are. with the exception of the debt to the
life Insurance Company on the Immigration
oan, which is being gradually paid on all due
= tho Statetreasury IN Denmark, and amount
n The whole to about S132 900. Against this
ye have outstanding arrears of former bureau
$50 .26O, arrears of taxes tor 1877 $@'87Ss
1873 $5.470 and for 1874 $22'742' in all
s3I Os4. of which SO, 900 may be considered
rracoverable. leaving $4,000; add to this
,ureau-claims this year $65,OoO and the loan
q steam plough $40, 900 aud for q tannery
i. 200. together $1,000, we will be having in
q sum Of $3.50, 900 to set off against the
Liabilities. This, then, is the lamentabfe state
f affairs at present. The next matter for
onsideration is the causes that have ledsto that
tate of things, which has affected individuals
. we'll as the Community as a body. Its of the
inheritance in times of trouble to have
clear and full view not only OF the existing
acts Init also of the true causes which have lea
the trouble. and to avoid dsceiviHg ourselves
49, tN1s a -A..-Asnr A. rnrnHH and ETfH7&AN