THE COLONIAL TREASURER ON CONVERSION.

Press, Volume L, Issue 8650, 27 November 1893, Page 4

THE COLONIAL TREASURER ON CONVERSION.

Ms. Ward in his ehorb speech on Saturday evening charged the Press with misrepresenting the financial operations of the Government, more especially what had been done in converting the 1863 guaranteed -debentures. Mb. Ward prudently confined himself to a bare denial of our statements, for the very excellent reasou thab he cannot controvert them. If he could he wouJd nob havo* allowed the opportunity to pass. We say it is deplorable when a Minister of the Crown has to resort to misrepresentation before a public meeting unacquainted with the facts ia order to win votes for his supporters. Will Mr. Wabd deny that when the £500,000 loan was converted, there were accrued sinking funds in connection with that loan of £256,000 i This sum, less

£90 000 issued under the Act a t 1884, was the amount which couS go m reduotion of the debt i other words the colony only \J\ £340 000 of the half '_«,& JJ* But the Government issued debentnM. to the amounb of £610,000 | n JSJ to geb possession of the »{»s* fund. £610,000, minus £UoZt leaves £270,000, the «_S?°g whioh the debt was increase? Yet Mr. Ward, without a blush on hi. countenance, told the aadienoe j„ lattersall's ou Saturday uighfc that the debt had only been increased hi £13,000! Is it not deplorable 5 repeat, that a Minister of the Crowa will iv this barefaced manner endeavour to mislead the public in order to secure to his supporters a few votes on polling day ?