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Evening Star, Issue 13089, 23 October 1908, Page 4

" If the financial position of the Dominion Keekl. M .m " broke doWTI nexfc 7™, 'e at Stirling. " wero bound to make de- " fault." This is the latest "Stirling sensation," carefully worked up by Mr James Allen in his address to the electors last night. Will some watchful patriot—say, an Opposition politician or journalist : n Wellington—be kind enough to cable or past news of the latest attack on the oredit of New Zealand to the London newspapers. Last wee k, when Mr Allen spoke at Milton, we complimented mm on the comparative moderation of his critical remarks; but the "old Adam" of malignant partisanship has evidently been stung to renewed activity bv the condign punishment administered to the Opposition at Palmerston North. Whv, Mr Massey himself might almost be staggered by his lieutenants hardihood. Sir Joseph Ward having shown that Mr Allen was characteristically wrong in asserting that the Government had obtained authorisation for a larger expenditure than could possibly be met by the available funds, the baffled critic whs obviously at his wits end how to get out of the difficulty. B ut something had to be said, and he decided to outdo all his previous performances in this kind. He told the Stirling electors that matters were much worst, than he had represented them to he at .Milton (though he docs not seem to have explained why ho kept back the terrible tale- on the earlier occasion). And what is th? nature of this awful <&. closure? In carrying out public works it is sometimes necessary for the Government to look a reasonable time ahead. . Extensive contracts may have to be arranged, for instance, so that the Dominion is occasionally committed, to all practical intents, to future expenditure for which actual provision has not been made. This position obtains in regard to the construction of the Midland Railway. What an opportunity for our would-be Conservative Minister of Finance, on the look-out for an extravagance in the way of criticism that should put all his past records to the blush'. The country being notoriously in a desperate way, rapidly going from bad to worse under the guidance of an incompetent and reckless Government, what likelier than that the commitments in connection with the Midland Railway should have to be repudiated? The crash may come "next year"—let the London financiers take note!—though perhaps the declaration of general default and repudiation of the Public Debt might, we take it, be delayed for a while longer-. Here are the words of this weird extravaganza, as reported: In the, Public Works Estimates there were votes and commitments, and they would fnd that the- commitments

totalled no less, than £417,000 on account of Midland Baihray construction; IT» liabilities (for -which there was no vote)x>n the 31st March last'they wirald find were £72,000. Add those two sums together and they would, find that there was a sum pf £489,000 for which there was not a penny provided. The Dominion had drifted, into this extraordinary position rader the leadership it had. If the financial position of the Dominion broke down next year we were bound to make default.

Well, Sir Joseph Ward will be speaking at Winton on Monday, and if. he deigns to notice the flapdoodle we have quoted, Mr Allen will have another bad quarter of an hour when he gets his paper on Tuesday morning. Well might the Minister, in his speech at Palmaroton North, recommend "more faith in ourselves and less pessimism"; but exhortation and protest are thrown away upon people who imagine that Now Zealand may have to "make default" in respect to its financial obligations "next year."