THE POSITION OF CANTERBURY.

Evening Star, Issue 7420, 16 January 1888, Page 1

THE POSITION OF CANTERBURY.

The study of statistics is, beyond doubt, dull and tiresome, we might say to a degree; but there is a rich mine of information to be worked by those who desire to know how things really come about, and are not satisfied by mere superficial knowledge, and the evident conclusions of accomplished fact. There is a great deal mere in the philosophy of New Zealand politics than meets the eye, and much that eludes the ordinary* intelligence. It is only by digging and delving among the Parliamentary papers, closely scanning statistical tables, investigating returns and comparing figures, that the "wheels within wheels " can be got at and the moving influences discovered which have brought about sets of circumstances impossible to be seen into with merely ordinary light. It is sufficiently notorious that during the last three or four years the Canterbury members in the House of Representatives have taken a "stand and deliver" attitude which has, unfortunately, rendered good government impossible. From the time of the scandalous compact to the present hour the representatives of Canterbury, with a few—very few—• honorable exceptions, have combined to sweat the Colony in one way or another, and have enforced terms which have had to be acceded to as an alternative to the obstruction of the business of the country. The Midland Railway is the one great success of the Parliamentary tactics of the Canterbury Party. The original and subsequent concessions were, it is not too much to say, extorted, from an unwilling Legislature, and in the face of very pronounced public opinion. The manner in which this business has

been worked from the beginning indicates that there have been deeper interests involved than the mere general ones of the people on either side of the dividing range who desire intercommunication by railway. The determined spirit evinced might well have been conceived to be prompted by despair, even if we had not the word of a leading public man, who stated with deliberation that if Canterbury did not get this line taken in hand there would be a burst-up. Now, this is just where statistics come in, and we are able to demonstrate from recently published returns that our Canterbury friends had very excellent reasons indeed for resolving, coute qui coute, to have this line constructed. Had the arrangement fallen through, as seemed likely enough at one time, their position might have been something equivalent to what Mr Matson elegantly described as "busted." It appears that, broadly stated, about one-third of the whole private indebtedness of the Colony is owed by Canterbury; whilst what may be termed the final security, i.e., the land in that provincial district at the present valuation, would hardly meet the outstanding mortgages. How necessary was it, therefore, in order to increase the value of thejsoil, that additional faci'ities should be given for the transport of produce to the market and the port, and that

there should be a large expenditure of foreign capital in opening up the back country. It was really a case of "neck or nothing" with the Canterbury members, and they have made use of their opportunities, it must be conceded, if not in a very high-prin? cipled, at least in a skilful manner. Referring to the tables attached to the Financial Statement, we find a statement of mortgages which gives £31,821,109 as the total amount thus secured on real property at the end of 1885. At the same date the indebtedness of the people in New Zealand, exclusive of mortgages, was estimated at £20,365,593—an amount delved from the property tax returns of debts deducted ly taxpayers and non-taxable persons. The annual report of the Land Transfer and Deeds Registration Departments gives some detailed information with respect to the money secured by mortgages under the Land Tansfer Acts on the 31st March, 1887. The total amount is £29,816,405, of which £10,313,049, or rather more than one-third, is owing Canterbury. Otago only owes half this amount, namely £5,697,611; Southland (the land district), £3,762,499; Hawke's 8ay,£2,283,196; Wellington, £3,177,726; Auckland, £3,104,589; Taranaki, £524,715; Nelson, £551,686; Marlborough, £301,977; Westland, £99,351. A proportionate indebted!

ness in other mortgages and exclusive of mortgages may fairly be assumed; and therefore, taking the total prjyas# indebtedness of thepeople of the Colony at the present time to be approximately £53,967,567, Canterbury owes of this £17,989,189. Now as to the Jagd within the provincial district: total area sold is 3,001,920 acres; 575,804 acres have been granted .or reserved by statute; the area open for selection comprises ,3,604,435 acres; and there remain 1,468,95? acres for future disposal. The proportion of the - private indebtedness Ito thfe area} o| land sold, £&, held, jby the;; people, amounts; ! therefore, to about" if 6 an acre, which is manifestly more than it can bear. Hawke's Bay, with its rich pastoral country, splendid climate, and .great natural resources, only owes one-fourth |of the debt of Canterbury, wMdrprei : vincial district again is twice as heavily jburthened asOtago. • \ It may now be understood why die ji Midland Railway had to be >

the construction of this line and the heavy local expenditure involved being direct means to the end of increasing the value of property generally, and making the money circulate, to the financial benefit of the community, who must, from the necessity of things, be all suffering mote or less from the excessive weight of the private indebtedness, Practically the million and odd acres conceded to the Midland Railway syndicate is a dole by the Colony to help the lame dog, Canterbury, over the style. We hope it will be the last of such transactions, although parliamentary government has got to such a pass that we are by no means sanguine. It must not be understood that we blame the present Ministry for what they have been constrained to do in this matter. They had to make the best of a bad bargain, and many considerations were involved, so far as they were concerned, which rendered any other course than the one reluctantly taken hardly practicable. We suppose it may now be taken for granted that Canterbury will have the railway, and it must be hoped that it will prove in every respect the financial success which its promoters declare that they anticipate. This would, at the least, be an agreeable disappointment to most common-sense people.