THE FINANCIAL DEBATE.

Evening Post, Volume L, Issue 45, 21 August 1895, Page 2

THE FINANCIAL DEBATE.

During the Finanoial Debate 58 mombers of the House spoke ; 1C did not spoak, that is, 15 besides the Speaker Those who did not address the House were Messrs. Carnell, Green, Guinness, Hall, Harris, Houston, Joyoe, W. Kelly, Lawry, Maointosh, B. M'Kenzie, Parata, Pere, Te Ao, and T. Thompson. We do not require to point out how dreary some of the speeches were. One thin? in the debate that has not been much noticed may be mentioned, and that is the number of tquabbles that have been brought to light in the Ministerial ranks. Mr. Tanner attaoked Mr. Meredith, Mr. Graham attaoked Mr. Tannor, Mr. Duncan followed suit, Air. Cadman oritioised Mr. G. W. Bußsell, and so on. Another peculiarity may be mentioned — the Hon. Mr. Cadman made a speooh on the Bailway Department at the olose of the Financial Debate— made it at a time when there wore no members to roply to him or criticise them, as the members had all spoken. It is usual for Ministers, in speaking about their Departments, to speak at a time when members can reply to tbom. Thero are some facts that may be taken as admitted, namely, that our debt has inoreased and our interest is increasing. The inorease of our net debt during four years has been .£2,291,109. The inorease has boon—

The interest has inoreased during the same period over .£30,000 per year. The increase of interest is going on and will still go on. No doubt it may be Baid that we have invested our money in works and in advances to settlers that will give us some return. But the same may have been said abont the expenditure on our railways. The moneys we borrowed and spent on railways yield ua some interest Under the rule of the Bailway Commissioners the colony got about 3 per oent. This amount has now fallen to abont £2 15s por cent. ; and we expect the current financial year will show a, further doorcase. A great portion of the moneys spent on roads gives the colony, direotly, no interest at all. lndireotly, by opening np the oountry and thus promoting settlement, tho colony is benefited. But so it wbb with the loan moneys spent in former days, and with tbis distinction, that more money in the big loan times yielded a direct interest than our loan moneys now givo. It is not neoessary to refer to tho individual speeches made. Wo oannot congratulate Mr. Ward on his reply. It was one of the weakest speeches ho has ever made, and dealt with some triSing details from a mere Treasury book-keepiug point of view. He promises to deal with the Tariff and with the proposed commercial treaties in separate speeches. Perhaps the faot that the Bank proposals overshadow all onr finance may ocoonnt for his speech and its want of grasp. The Budget has, in faot, taken a seoond place in members' minds ever since the setting up of the Bank Committee. And this, we suppose. Ministers as well as members feel. Wo shall have something to say about the seizure of the Sinking Funds, <to. — matters not alluded to iv bis reply, save in a way that entirely misrepresents the position.'

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