The Press. SATURDAY, MAY 3, 1890.

Press, Volume XLVII, Issue 7541, 3 May 1890, Page 4

The Press. SATURDAY, MAY 3, 1890.

It is highly satisfactory to find tha c the hint thrown out by one ofoo r j Wellington contemporaries in favor another loan has produced only one result. It has called forth universal I condemnation from one end of the colony to the other. No one has a word to Bay for it, and the subject has consequently been allowed to drop. There was, we admit, much in the proposal which was calculated to attract persons anxious to Bee anew era of fiotitious prosperity brought about. It laid hold of the idea that the settlement of the country was of primary importance; that the now areas of Native land just acquired needed to be opened up with roads aud bridges, and that funds for that purpose were therefore urgently needed. The notion evidently was that as the people in various parts of the colony had expressed themselves favorable to the vigorous settlement of the land, they might be prepaved to sanction another loan if the proceeds were to be devoted to that phase of colonisation. It was known, also, that the project of connecting Wellington and Auckland by means of a railway has longbeen warmly cherished in the North island. At one time the scheme had the hearty sympathy oE the iuhabitants of the South Island as well. There was a time in the histQry of our relations with the Native race when it was regarded as a matter of national policy that the railway should be made, as a means of settling finally and for ever the Native difficulty. On that understanding the North Island Trunk Railway Loan was authorised as long ago aa 1882, but for reasons which need not be again repeated here nothing was done in the matter for several years afterwards. Theu, after the railway had been commenced at both ends and a considerable expenditure incurred, it was discovered that the original estimate of its cost was entirely fallacious, and that, instead of costing a little oyer a million, it would involve an outlay of double that sum. Moreover, the colony was by that time in entirely different circumstances. The people had come to the conclusion that borrowing under any circumstancea could no longer be, tolerated. Moreover, the Native difficulty had been solved. The Maoris are now entirely at peace with their European neighbors, and the existence or non-existence of a railway can in no way affect the relations of the two races. With these facts before it the House had simply to settje the problem of how best to use the balance of the loan availablej and by general consent it was agreed that the first thing to be done was to acquire as much of the land as possible within the area affected by the rail-

way. It was hoped that the above plan would be generally acceptable to those directly interested in the line, and we believe that such is the case. As was s! own by an extraot published by us the other day from the columns of' our Auckland contemporary, the New Zealand Herald, this is the view entertained in the North. j and notwithstanding what our Wellington contemporary has said, it is, we are convinced, the opinion of the rural districts of Wellington also. We have reason to know that the Wellington country representatives are as strongly opposed to borrowing now as they have conspicuously shown themselves to be in the past. Whatever opinions may be entertained as to details regarding the spending of the trunk loan, we are convinced that there will be a general agreement that anything which may in any way tend in the direction of fresh borrowing will be vigorously opposed by those gentlemen. We are glad to be able to make the announcement, because it might have been - supposed by some that our remarks on the subject of borrowing a few days ago applied to the Wellington country members. 9ucb was certainly not our intention. We sought to convey a word of warning to the people of the Cjty of Wellington, whom we supposed might have some sympathy with the remarks on the subject of borrowing which appeared in a j journal published in that city. But if there ' ever was any idea entertained that another loan would be acceptable to the people of the colony, that idea is now entirely abandoned. In this connection there ia one point which is worth the consideration of those who take a deep interest in this question, All over the colony, as we have said, there is evidently a wide-spread conviction that under no circumstances must borrowing be mentioned at the next general election. This expression of opinion has been made chiefly by the newspapers. Several members have also spoken, and they have committed themselves unreservedly to the same policy. There are, however, various public bodies, representing large sections of public opinion, which might with propriety pass resolutions on the subject. We have, for example, Chambers of Commerce, Industrial Associations, and so forth, which embrace a large membership. As the general elections are not far off, these bodies might do much to emphasise public opinion on the borrowing question by discussing the question and passing resolutions. We look upon it of the most vital importance that when the next election is over, we should be able to announce to the English public that the people of New Zealand, after three years , trial of the policy of economy and prudence, have unanimously decided that it shall be the settled policy of the country.