✨ Provincial Financial Statement
133
LOANS OF THE PROVINCE OF WELLINGTON.
The actual indebtedness of the Province of Wellington for loans repayable at long dates may therefore be stated at ... £218,633 14 6
For floating debt (bank overdraft authorised by law) ... 14,041 11 11
Total ... £232,675 6 5
To meet this indebtedness its assets may be estimated to realise as follows, viz.:
940,000 acres, less 80,000 given as security to the Colonial Government for the advance of £66,000, referred to in preceding return; estimated by the Crown Lands Commissioner at 10s per acre ... £430,000 0 0
Beneficial interest in land in course of reclamation ... 30,000 0 0
Provincial buildings, for which an offer has been made of ... 25,000 0 0
Total ... £485,000 0 0
That is to say, to use a trade expression, the estate of the Province of Wellington will, if wound up, be able to pay upwards of forty shillings in the £, which cannot be regarded as an unsatisfactory result for the assignees of an estate brought under compulsory sequestration.
This statement is exclusive of the value of those large and important blocks of land in the Province on which considerable sums have been already expended towards the extinguishment of the Native title, and the negotiations for several of which must now be all but completed. These would in the ordinary course of events have been handed over in due course to the Province; and such a consideration may fairly be taken into account in estimating assets in case of liquidation of a suspended estate.
The Superintendent cannot close this statement without expressing his opinion that none of those who from time to time have taken part in the management of the affairs of the Province need be ashamed of their work; and he takes this opportunity of bearing testimony to the public spirit and ability which have distinguished alike the officers of the Provincial service and the members of Provincial Councils in the discharge of their public duties through a long series of years.
WILLIAM FITZHERBERT,
Superintendent.
Printed under the authority of the Government of the Province of Wellington, by BLUNDELL BROS., Printers for the time being to such Government.
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Wellington Provincial Gazette 1876, No 21
✨ LLM interpretation of page content
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Provincial Secretary's Statement on Provincial Affairs
(continued from previous page)
🏛️ Governance & Central Administration15 June 1876
Provincial Council, Superintendent, Administration, Assets, Liabilities, Expenditure, Land Sales, Education, Public Works
- William Fitzherbert (Superintendent), Author of the statement
- William Fitzherbert, Superintendent