WELLINGTON GOSSIP.

Bruce Herald, Volume XVII, Issue 1758, 15 June 1886, Page 3

WELLINGTON GOSSIP.

(From our own correspondent.) June 5. Since the termination of the No-confidence debate, the political atmosphere has cleared wonderfully , and the House has settled down to real hard work. Laat evening the Municipal Corporations Bill, a measure containing 420 clauses, was considered in. Committee. With tbe exception of the schedules and a few clauses which were postponed, the Bill passed after several amendments had beon made. The second reading of the Counties Bill was then agreed to on the understanding that the debate on the policy and principles of the Bill should take place on the motion for committal. LENGTH OF THE SESSION. In my hearing, the Premier made a remarkably candid confession to the House a day or two ago. On the motion to go into Committee of Supply, be intimated that the Government were not prepared with their measures, and that under these circum-

stances he considered it would be unfair to members to keep them hanging about Wellington awaiting the convenience of the Ministry. He pointed out that as the present Parliament* would not expire till the 6th of August, 1887, he proposed asking hia Excellency to agree to an early prorogation on the understanding that the House would again be summoned at an early date next year to consider several important enactments relating to Representation, Civil and Criminal Procedure, and Local Government. If this were agreed to, he promised to have all these measures prepared during the recess. As the amount of remuneration you are pleased to allow your correspondent ia calculated according to yaur idea of the value of his productions, need I say that I was not sorry at the prospect of being relieved of such unprofitable employment at an early date. I hope you will not consMer me ungrateful when I say that the Premier's an nouncement filled my soul with exceeding gladness. This was destined to be short lived, however, for Sorrow returned with the dawning of morn, Aud the voice of my dreaming, &c, &c. I cannot account for the active operations of my imaginative faculties at the unearthly hour of four in the morning, but I presume an overdose of oysters and welsh-rarebit the evening before had something to do with it. You must understand I am not superstitious — not in the least. Yet I cannot help thinking there is something in that dream after all. It is now generally understood that the session will be brought to a close in four or five weeks, and the following motion which will be moved by the Premier on Tuesday next, very much strengthens my belief that another session of the present Parliament will be held early next year ; — " The Hon. Sir R. Stout to move that Government business have precedence on Wednesdays, and that the House meets on Mondays at 7.30 p.m. for Government business only." RETRENCHMENT. In my last letter, I prophesied the defeat of Mr Montgomery's amendment on tho ground that the majority of the House were satisfied that the Government would, during the recess, effect substantial and permanent reductions in the departmental expenditure, and I gave it as my opinion that the appointment of Mr Reynolds as a member of the Cabinet was the best possible criterion that this would be done. On this subject, the 'New Zealand Times ' says .- — "Although we are glad that, in the peculiar circumstances of the case, Mr Montgomery's motion was not carried, we should regret its rejection very seriously if this could be taken to mean a death-blow to all retrenchment for the session. But we do not think that this is the case. On the contrary, we have good reason to believe that Ministers secured their large majority mainly through very distinct private pledges that reductions should be effected. Nor was the accession of Mr Reynolds to the Ministry without its influence. That gentleman has long posed as the resolute champion of economy, and it was an ' open secret ' that he only accepted a seat iv the Cabinet on the express understanding that the work of retrenchment should be energetically taken in hand. We anticipate therefore that before the Estimates are passed some substantial reductions in various departments will bo proposed from the Ministerial benches." A SINGULAR COINCIDENCE. During the recent debate on the financial policy of the Government, the Colonial Treasurer spoke very strongly about the mischief which he said had been done to the colony by colonists themselves, who spoke and wrote of its affairs in gloomy and disparaging tones. He asserted that public men and public writers had slandered the Colony, and by their statements concerning its financial position had frightened away capital and depressed its credit at Home. Mr Bryce denied this most vigorously, and said that the slanders about the Colony were in reality nothing more than the truth, which it was the right and duty of every colonist to make known to the world. Speaking as a colonist who has just returned from England, and who, while there, had enquired iuto these matters, Mr Bryce declared that what had seriously injured the Colony's credit at Home, and prevented an influx of capital, was the news of the Colonial Treasurer's proposal to borrow ten millions of money. While Mr Bryce was speaking, a singular incident happened that had a remarkable bearing on the subject matter of the debate. The Premier took the unusual course of asking leave to lay a paper on the table, and leave being given to interrupt Mr Bryce for that purpose, the latest correspondence concerning the East and West Coast Railway was, presented. Strange to say, among the first letters in that correspondence is oue in which the Agent General describes the circumstances under which the negotiations for fl jating the railway company were almosc terminated. Among the causes, he mentions the disturbed state of politics in England, the commercial depression, &c, "but above all," he saya, " the persistent repetition of the rumor that the Government meant to bring out new loans to the extent of many millions " paralyzed the negotiations. "That alone," he goes on to say, " would have been quite sufficient to defeat the prospect of launching any fresh New Zealand enterprise." The immediate result was that the attempt to raise a subscribed capital of half a million for the railway had to be abandoned, and he succeeded after much difficulty in assigning the contract to a company with a subscribed capital of only £250,000. More startling or conclusive evidence of the literal accuracy of the views expressed by Mr Bryce, as to the baneful influence of the Treasurer's recess speeches, could not possibly be afforded. We have the plain fact that the immediate result of the alarm caused by his borrowing proposals was the reduction of the capital of the Midland Railway Company from half a million to a quarter of a million. It must be remember--1 ed that old colonists of high standing and

long experience were connected with this project. If then a huge borrowing policy was sufficient to make these men shy clear of the Colony as a field for investment, who^ can say how many other projected in vestments by persona wholly unacquainted with the Colony or of ita resources have been ohoked off from the same cause.