My hon. friends say ' Hear, hear.' Well, we are lucky people when we can make the two go hand in hand. We have received for the current year to the 10th of March, this present month as revenue $38,047,685.82. Having regard to the receipts of the corresponding period a year ago ; to the amount which was received from this date to the end of that fiscal year, and to the anticipation in which I indulge that there will be some increase ; I am of opinion that we shall have at the close of this current year a revenue of $56,800,000 (in round numbers) as against an actual revenue last year of $52,514,701. There will thus be a probable increase in our revenue this year to the amount of $4,285,298.
Now with regard to the expenditure. We have expended this year up to the 10th of March, $30,133,502.76; and taking into account the amount which we expended last year from this date to the 30th of June, and making allowances for a probable increase during the present year-because there will be some increase-I am of opinion that at the close of the year we shall have an expenditure in all, probably of nearly $51,000,000 in round numbers. I make it a shade below that, but for convenience we may call it $51,000,000. That will be an increase in the expenditure, over the expenditure on consolidated account for the past year, of $4,133,632. It will be observed that I estimate an increase of revenue of $4,285,298, and an increase of expenditure of $4,133,632. The two sums would nearly balance one another. If they exactly balanced one another they would leave us with the same surplus as last year, namely, $5,648,333; but as the increase of revenue is a little more than the increase of expenditure, I think I am warranted in saying that the surplus for the current year will be a little larger than that of last year and will amount to $5,800,000.
As to the capital expenditure of the present year, it is exceptionally large; the largest we have had for some years. I anticipate that at the close of the year, we shall have a charge for capital and special expenditure of $14,250,000, as against $11,116,000 last year.
Subtopic: THE PUBLIC DEBT.