No. 24, Financial

1. Resuming the subject treated of in my Despatch No 14 dated 1st
 March 1866, I have now the honor to enclose extracts from local
newspapers containing reports of debates in the Legislative Assembly
as to which I have no other means of information.

2. The Assembly appear in these debates to have confined their
attention chiefly to the abolition and reduction of taxation—in
other words, to the diminution of "Ways and Means."

3. They have passed Bills to repeal the Real Estate Tax and Salaries
Tax and to reduce Trades Licence and Liquor Licence Duties, and
import duties on milch cows.

4. By another bill they have however, imposed new import duties on
hay and lumber which will add little to the Revenue.

5. They have also passed two Bills authorizing loans respectively of
£50,000 ($242,500) and $100,000 (£20,618).

6. I have already in previous Despatches commented upon the measures
above detailed.

7. None of these Bills, one of which, the Real Estate Tax Repeal
Bill, was passed by the Assembly on the 12th instant, have as yet
been sent on to the Legislative Council for their consideration, and
it will be seen from the enclosed reports that in the event of the
Council rejecting the Bills affecting taxation the majority of the
Assembly contemplate "tacking" those Bills on to the Supply Bill and
so coercing the Council to pass those Measures.

8. I may state that since the date (22nd February 1866) of the last
debate in the Assembly of which I transmitted a report in my Despatch
above referred to, the Assembly has met nine times and on no less
than eight occasions has failed to meet owing to the absence of a
sufficient number (five) of Members to make a quorum.

9. On the 21st instant the Assembly adjourned for six days, the
Session having already lasted nearly four months and no portion of
the financial business of the Colony being completed.

10. It will be seen from the reports of the debates that the
proposal to place the Stipendiary Magistrate of Victoria under the
control of the Municipal Council has been abandoned, and that a like
proposal with reference to the Police Force having been carried, is
about to undergo a reconsideration.

11. The permission given in the Victoria Incorporation Bill to
foreigners to vote at municipal elections is a remarkable and
significant fact, one object of the supporters of that Bill being
avowedly to supersede as much as possible the general Colonial
Government by local municipal Government, and the majority of the
inhabitants being foreigners.