#
£
75
$12,000 to be made up out of current revenue in the course
of the next few years. If this sum of $12,000 is added to
the sum of $751,500 set forth above, the total expenditure
on all public works anticipated in the near future will
reach the sum of $763,500.
13. If this total expenditure of $763,500
is deducted from the total receipts of $1,700,000 referred
to in paragraph 11 above, the balance of $936,500 shews the
estimated excess of proceeds of land sales during the next
four years over the expenditure on extraordinary works
chargeable against revenue during the same period. If the
total anticipated receipts from Land sales during the next
four years viz.,$1,700,000 be apportioned, the estimated an-
nual yield from land sales during the period of construe-·
tion of new Govt. Offices will be $425,000, whereas the Land
sales during 1898 are put down at $255,000 and during 1897
produced $224,500. From this it appears probable that a sum
not exceeding $250,000 per annum to be derived from Land
Sales will suffice to maintain an excess of revenue over
expenditure: and if the forecast of the Director of Public
Works is correct,it is clear that Land sales will on an
average during the next four years bring in a revenue exceed-
ing by about $185,000 per annum the average of the actual
and estimated receipts on that account during the years
1897 and 1898 respectively. Those figures tend to justify
the opinion expressed in paragraph 9 of this report.
14.