THE TREASURER AT DUNEDIN.

Press, Volume LII, Issue 9013, 28 January 1895, Page 5

THE TREASURER AT DUNEDIN.

(press association telegram.) DUNEDIN, January 27. The Colonial Treasurer was entertained at a social last evening. Mr C. S. Beeves presided, and nearly all' the local members of che Legislature among others were present. HIS VISIT TO ENGLAND. Mr Ward, in the course of a lengthy speech, said it was remarkable with what sadden unanimity the most determined opponents of the Government had decided it was desirable that the Treasurer should remain in the colony; but he declared persons giving utterance to such expressions, if not Judas Isoariots, were hypocrites of the deepest dye. THE ALLEGED DEFICIT. The cable recently published in England, that there was a probability of a quarter of a million deficit in the colony's finances, had not, as he had ascertained, gone thiough the ordinary Press channels, op been sant by the Press Association, and had not emanated from Reuter'a Agency. But the statement had been disseminated by the enemies of the country, who professed anxiety to keep the Treasurer in the colony, and with a knowledge that the statement was untrue. During the past few days he had had a careful analysis made of the position, and the figures, which w<?re on the safe side by a considerable amount, disclosed the very important fact that the estimate of the revenue in the Financial Statement would not only be realised but be exceeded. True, there was a deficit in the railways and Customs, but he had forecast the deficit in both departments. Aβ compared with previous years, every other department, however, except the beer duty, showed a considerable surplus, and the surpluses of these departments, after providing for the deficits in other departments and after discounting the remaining quarter, would leave an excess of £20,700. That meant that instead of a gross surplus of £541,940, as he had estimated, after March 31st, the gross surplus would be over £360,000. He challenged the originators of the cable to England to come forward and openly admit it, as they'ought to have faith in their own statement. He branded them as traitors to the interests of the colony, because they were sending out what was untrue. THK CHEAP MONET SCHEME. Referring to the cheap money scheme, he said the Government did not want to lend a penny so long as they caused a reduction of the rates of interest to producers so as to place the latter on an equal footing with producers in other colonies situated nearer the markets of the world. EXPLANATIONS. He alluded at some length to the insinuation respecting the connection between the Companies with which he was associated and the financial institutions; and, in the course of a statement as to the position of the Otago Central Railway, vote, said the Government has decided co acquire all freehold land in the vicinity of the railway, upon which they intended to settle men engaged at work on the lino, and proposed also to adopt the Victorian system by which men worked three days on the railway and devoted the remaining three days a week to the improvement Of their own sections. Respecting the statement made some time ago tuat £150,000 had been deposited in the Colonial Bank, he said the Government, being bound to &oe that the second million guaranteed stock' of the Bank of New Zealand was invested in liquid securities, were placed in a moat difficult position. They had not used sixpence of the money in carrying on the business of the Government, but they said it was in the interests of the colony chat the money should be invested in If per cent. .Government consols, or 2 or 2£ per cent. British consols (sjc), and they suggested to the.Bank of Now Zealand that the security should be got in ' the colony. They said that in the opinion of the Government it waa desirable to a reasonable amount r<6 get local institutions to take a portion of the money, and that was what was done. Because they did this they, found .people who professed anxiety to promote the interest of ° the- colony endeavouring to discredit the Ministry for having carried,out what, in his opinion, was not only a good thing, but the right thing. He quoted instances of Ministers holding re ponsible offices in New Zealand and the neighbouring colonies . visiting England in the past, and said that while at home it would bo his duty to frustrate the devices of the enemies of the Government. He .had in his possession information which rendered it advisable that either himself or another responsible Minister should be in England for the purpose of doing something calculated to do a great deal of good to the country. The opponents of the Govern* ment might cay, *' Why not tell us what it is? "but he had never'till the time was ripe told auybody what be proposed to do, and it would be foolish enough to publieh from the house tops what arrangements, were' going to- be made, as a failure might* ensue. . ' POSTAL CONFBBKNCE. Alluding to the Postal Conference, he said be hoped to oppose the carrying out of any mail contraots towards which New Zealand money was given, unless white seamen were engaged on board the steamships, and he would also find it necessary to try and connect one further link in the proposed Pacific cable. BEOiPßOcrrr. Ever since the Government had been formed ho had tried to induce the neighbouring colonies to enter into a reciprocal tariff, and he would-arrange, if possible, for such reciprocity with the other colonies. In conclusion, Mr Ward .said he hoped next rime he was in Dunedin to give succinctly the whole financial position of New Zealand. A vote of thanks for the address was carried by acclamation, Mr Ward left for the Bluff at midnight. ...