RUINOUS FINANCE.

Press, Volume L, Issue 8650, 27 November 1893, Page 5

RUINOUS FINANCE.

A CHALLENGE TO THE SEDDON MINISTRY BY MORTIMER DAVIE.

Whereas the Colonial Treasurer is reported to have stated at Mr Seddon'3 meeting at TattersalPs on Saturday night that the recent conversion of the half million 4 per cent, loan into £610,000 consolidated stock bearing interest at the rate of 3J> per cent, resulted in an increase of the public debt of £13,000 only, Thereby undertake to prove to the people of Christchurch that any such assertion is absolutely untrue, and thab the real present increase on this one transaction is £270,000, as clearly shown in tabulated statement published in Press newspaper of 24th instant. In confirmation of my statement I am prepared to submit the whole matter to any two or more of the following wellknown accountants, viz., Mr Ollivier, Mr Barns, Mr Craig, Mr McKellar and Messrs Cook and Gray, whose report will be based solely on the Colonial Treasurer's own statements as set ont in Hansard (volume 31 of late session.) I challenge any member of the Ministry now present in Christchurch or any of their -champions to select any two or more of the above - named gentlemen to report on the matter, and I will be satisfied with the choice made, provided the same is intimated to mc at my Committee rooms, Cashel street, by eleven o'clock this morning. If this invitation is ignored 1 -will have to make my own selection so as to have the accountants' report iv this evening's papers if possible. I know nothing of the Eolitics of the gentlemen named, and a-ve had no communication with them on the subject. It will be clear that the report of professional men whose business reputations are at stake will be far more" trustworthy than party statements made for electioneering purposes. So satisfied am I of the absolute correctness of my statements that I am prepared to forfeit £5, to be paid to the Christchurch Hospital, if found either incorrect or misleading.

CABLE NEWS.