THE FINANCE OF THE MINISTRY.

Evening Post, Volume XXX, Issue 9, 10 July 1885, Page 2

THE FINANCE OF THE MINISTRY.

The changes in polioy announced by the Premier last night, apart from the abandonment of the tariff, are very great improvemente on the original proposals. As we pointed out some timo ago, the idea of giving the local bodieß an "assured finance" for the next quarter of a oentury was as illusory as all previous promises of the kind, though for leEser periods, have always proved to be, while the large borrowing powers based on this "assured finanoe" would rbavs enormously mm eased the burden of the publio] debt without insuring any commensurate benefits in return. To the method of providing for the finanoial needs of the looal bodies during the next two years no exception requires to be taken. It ifl perhaps as good a way as any other of for an inevitable necessity. ' The carrying forward of .£50,000 floating debt is not perhaps an apt of profound statesmanship, and certainly does not possess the oharm of novelty, for Treasurer after Treasurer has resorted to a like expedient to meet similar difficulties. That the deficiency will ultimately be added to the permanent debt, as similar deficiencies have been before, we oannot doubt. The charging the coat of permanent defence* works to loan is a perfeotly fair course. They are essentially publio works which may properly be co oharged. It is not reasonable to charge to revenue, that is to the taxpayers of the present, the cost of defence wor>s whioh will last for all time. The expend, '.ore on suoh works is necessary and wise, ai.l if we had to borrow specially for them there would be nothing objectionable in the proposal, and the increased interest might fairly and properly be met by a corresponding inorease in th« Property Tax, bo as to put the cost of what is really an insurance, on the shoulders of the olass whose property is insured.