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 length come to an end. Last year's estimates have shown a surplus of 37,000l. The coming year has an estimated revenue of over four millions, with an anticipated surplus of 42,000l. This is accompanied by a diminution of the property tax to the amount of 24,000l. The population is increasing satisfactorily. Public works of much importance, and of a reproductive character, are being vigorously prosecuted; and those already carried out, are year by year becoming increasingly reproductive. The feeling of friendly regard and brotherly affection for the dear old mother country seems only to become accentuated as time rolls on. The signs of returning and permanent prosperity are everywhere apparent. Intellectual and mental life is vigorous; religion and learning are advancing; and on all sides, the outlook is hopeful and the signs fortuitous. It is to be hoped indeed that our New Zealand cousins are entering upon a new era of peaceful progress and steady advancement in everything that will tend to build up true national greatness, and help to preserve the unity, the peace, and the dignity of that great Empire of which their southern island home is one of the most beautiful and most fruitful dependencies.