The Press. THURSDAY, DECEMBER 16. 1886.

Press, Volume XLIII, Issue 6625, 16 December 1886, Page 2

The Press. THURSDAY, DECEMBER 16. 1886.

The election of Mr. Monk for the District of Waitemata by an overwhelming majority is, at the present juncture, a significant event. That gentleman has hitherto taken no active part in general politics. In his election speeches he has been careful not to identify himself with any of the existing parties in the House. " He " has," says the New Zealand Herald, " no creed or theory of local reform " or financial jugglery by which all w all things are to be made new, and "prosperity and credit to be restored. " JButJie hat one clear platform, and "there can be no mistaking hie posi- " tion on that! He thinks we have " been borrowing too much, taxing too " much, until our credit is gone; until' " we have learned extravagant" habits,: " and we are grinding down by exces- " stye burdens the. producers in the v community. Aβ to how a right state *' of. things' ifl to be restored his "ideas are simple and' primitive. " We must not expect to go ahead "by r leapa and boiinds, , and " must not talk about' 4 giving the "colony another'chance'by another " reckless gambling pluoge. We " must simply economise. We must " reduce 1 expenditure in every direct '• tion. Public works must be cur- , tailed, and we oast not start works " merely" tcr keep men employed when " these men should be producing food " far themselves and others out of the "soil. Extravagant expenditure on " the Legislature must be cut down," The above ia a clear and straightforward programme, and it appears to have met with the approval' of the' Waitemata electors, what is more, it is almost certain to meet with the approbation of the electors throughout the colony when they are called upon to express their opinions at the polling booths. "What Mr Monk has been Bkving to his Waitemata constituents is being said privately by thousands throughout the colony at the present time. There is evidently a growing conviction in all directions that the days of extensive borrowing and extravagant expenditure are at an end. Even Ministers are compelled to admit as much. They are anxious' to have" it understood that they are retrenching, as much as possible. We were told at Xawrenee the other day that "the Government are making it an object to retrench as far as possible in all directions the expenditure of the colony." They have come to the conclusion that the " House will consider it wise for come time to come to carry only to completion the railways which are now authorised, and to abstain as far as possible from going on the London market for fresh loans." In other words Ministers have not been slow to take note of the signs of the times. They recognise that a complete change ! has come over public opinion of late, and they are prndentfy striving to convince the electors that they are the proper persons to be entrusted with tie carrying out of the new policy. The rapid growth in the Strength of the party of prudence and economy is worthy of special notice. Those who only a short time age iuged that policy were looked »pon as the enemies of the colony, and they yate denounced in most unmeasured teriii. All this has changed. First of all ihe Premier took up the view that retrenchment was necessary,

and on more than one occasion during the last recess gave utterance to his views in clear and unmietafceable language. At length we,find the Colonial Treasurer following on the same lines. In his Lawrence speech, from which we hare quoted above, he gave in bis adhesion to the policy of economy, or rather gave it as his opinion that the Housa would insist on euch a policy being adopted. This is, of course, moat encouraging. When our public men begin to strive with each other for the honour of leading the parly of economy and prudence, there is some chance %ftyra.ll nf unmfl usefulwori being done* What we are chiefly concerned about is that the comfort, well-being and prosperity of the people of the colony shall be ensured. We are firmly con vinced that borrowing and wasteful! expendi ure will have exactly the opposite effect, and we therefore i accept this change in the attitude of some of our public men as most welcome. There will be some who will say that this sudden conversion to economy is somewhat suspicious, and that such professions sit somewhat badly on them. That is a question which need not be now discussed. A fitting opportunity will no doubt present itself for ; smb. a discussion, when we may have : a word or two to say on the matter. In the meantime our desire is that the public should clearly understand that those in power recognise the propriety of preaching awi, we hope, of also practising economy in the ordinary expenditure, as well as the expediency of abstaining from going to the London market for fresh loans.

There is one danger, however, to be guarded against. It is evident that if the Government can see their way they may propose next session a rearrangement of the tariff, apparently in the interests of tbe protectionists. During the last few weeks the subject has been frequently referred to, and at the present time the public pulse is being anxiously felt regarding it. Ministers are, however, rather chary of committing themselves. Protectionist views have been given utterance to with a good deal of reservation. Such a policy, we are warned, can only be introduced gradually, so as to give time for the protected industries to get on their legs. Protectionists are consequently informed that they must not expect too much. They must have patience. In other j words, if it is found expedient to propose any additions to the tariff, they will be of a moderate character, ao as not to create any needlese alarm and opposition. The protectionists will be, invited to give their support and ajdt to such a scheme as a step in the* direction they desire the colony to go. ; That means that, with the aid of the protectionists, fresh taxation will be imposed, and additional revenue wrung from the pockets of the people. Ihe taxation will be certain, the protection, to say the least of it, very gradual. But it ie by no means car-" tain that the Government will venture to propose anything of the kind. Ministers may prudently determine to put into practice the doctrines they have been preaching. They may 1 re* eolve to economise to such an extent ac to render fresh taxation unnecessary. Much will depend upon th» attitude of the public during the next few months. If the electors generally, like those of Waitemata, make it per* fecfly plain that they will not submit to fresh taxation under any guise whatever, then there is every possibility of a determined effort Deing made to arrange the finances of the. colony in such a way is to render such taxation unnecessary.