Colonial Despatches

Mr Cox
These are the returns from the Treasury for the 4th quarter of 1869. Compared with the same quarter of 1868 (6/11117/69) the figures stand thus:
Revenue—
for Quarter ending 31 December 1868 $145,222.92
————————————— 1869 115,535.11
Expenditure—
————————————— 1868 $251,381.98
————————————— 1869 193,887.50


The Revenue for the whole year stands thus:
1st quarter $ 84,050.87
2nd " $154,968.77
3rd " $173,965.78
4th " $115,535.11

1869 $528,520.53
1868 $585.610.—
1867 $483,105.—

The year 1868 was known to be an exceptional year, but the estimate for 1869 was $602,000. I annex a copy of the estimates for 1869, with the actual receipts filled in; every important item of Revenue was overestimated, and the Receipts from mining for 3 years shew a steady decrease.

The returns of expenditure are rather confusing, as there is some complication between net & gross expenditure: as far as I can make out from the blue book returns for 1868 it was—
1868
Arrears due from previous years 128,765.61
Overpayments 200.64
Sinking Fund 36,011.25
Real Annual Expenditure 432,778.95
Gross Expenditure $597,556.45

& from the 4 quarters of 1869 added
Real Expenditure $480,268.44
Sinking Fund 29,948.75
Temporary Loans 5,308.05
Home Govt Act Deposits &c 17,112.10
$532,636.34

The items of expenditure in 1869 do not seem to have differed much from the items in the estimates, with the exception of Temporary Loans; with regard to which it was of course impossible to pay off the $100,000 Govr Seymour had put in the Estimates, seeing that he had over estimated his revenue $75,000. If the arrears are all paid off now, the temporary loans & interest may be diminished soon, as the annual expenditure is otherwise well within the income.

Mr Herbert
Mr Round gives the result [of] his examination of these Returns.

All that we can do is to hope for the best.

Put by.

& to impress upon the Governor the absolute necessity of either diminishing expenditure or increasing revenue.

Mr Round
Mr Monsell means that we should avail ourselves of every opportunity that arises for pressing this necessity on the Govr but not to write on these returns.

The Estimates for 1870 of Rev. & Exp. have been already approved, & these returns relate to a time before Mr Musgrave assumed the Government.

Therefore put by.

Returns of revenue and expenditure for fourth quarter, 1869 (17 printed pages).