V.—Revenue.

The receipts come under two heads, ordinary and territorial; the former consisting of customs duties in the proportion of three-fifths of the whole; and a statement of the latest year's revenue will be found in Table IV, showing the other receipts in detail. The territorial revenue is derived almost wholly from sales of crown lands, leases, &c. The following are the returns for the ten years :—

[000's omitted.]

The ordinary revenue amounts to 5l. 2s. 4d. per head of population.

The territorial revenue fluctuates from year to year, depending on the price of wool and grain, and other circumstances, and includes only the crown lands sold and leased by the Government, but does not indicate the progress of settlement on land purchased by individuals from the natives, who own the bulk of the north island, and from whom a large extent of land is purchased and leased annually.