THE Grey River Argus. PUBLISHED DAILY. FRIDAY, JANUARY 16, 1874.

Grey River Argus, Volume XIV, Issue 1701, 16 January 1874, Page 2

THE Grey River Argus. PUBLISHED DAILY. FRIDAY, JANUARY 16, 1874.

We shall await with considerable curiosity and much interest the accurate statement of the financial position of the Province, and the ways and means which the Superintendent and his advisers (if he should have any) will present to the Council at its first meeting. As we have remarked on a former occasion, it cannot be expected that there will be much margin in the estimated revenue for doing other things than simply keeping up the existing departments, but it is not at all probable that the Council will rest contented with this position. Although some extensive and important public works have been constructed by the General Government during the last two years, a great deal more requires to be done in order to complete a system of communication from one end of the Province to the other, and to connect the back districts by means of branch roads and bridges. It is impossible to estimate the value of the southern part of the Province, because it has hitherto remained almost sealed up, but what evidences we do possess of the district from Bos 3to the southern boundary of the Province all point to the probability that it is as rich in gold deposits and land fit for settlement as any other part of Westland. This extensive country mast be opened up, and there are many works in various parts of the Province which must be done if it is to go ahead and prosper. But the question arises — " where is the money to come from ?" — to which there is only one reply — it must 'be borrowed. We have abundant security

to offer, and the fact that, a3 a Province, we have not enjoyed the advantages which our neighbors have from the use of large sums of borrowed money entitles us to great consideration. .-But will not Mr Bonar find himself in rather a difficult position in recommending the Council to assent to a borrowing scheme, considering the attitude he took up in the Legislative Council last session upon the question of Provincial borrowing ? We need not here enter into any discussion of the merits of the Provincial Loans Bill, introduced by the Government. We think the Upper House was quite right in rejecting it, as it was first of all a sham, and next, false in principle, as Mr Bonar himself assisted to show. But Mr Bonar expressed himself as opposed to borrowing for Provincial purposes in any shape, and he helped to throw out the Wellington Loan Bill, which was exactly such a one as Westland will have to present. It had previously passed the Wellington Provincial Council, ample security to the Colony was set aside, and the works to which the loan was to be applied were set forth in a schedule. The separate Loan Bills for other Provinces were justly rejected, because they possessed none of the qualifications of the one for Wellington. But Mr Bonar's speech showed the most strong objection to borrowing in any shape at present for Provincial purposes. We make a few extracts ! in illustration : — Tkere is no doubt, in my mind, that if the Provinces once get permission to borrow, they will hasten to avail themselves of it to the fullest extent, because they will not know | how soon this power may be taken away ; and they would say, •' It is of the utmost importance to utilize the authority we now have, and get all the money we possibly can." This might lead them into an extravagant expenditure of the money placed at their disposal ;and I feel that in this respect the Colony would suffer in the long run. Another very important question, and one which is perhaps next in importance to that of the policy of the Provinces to borrow at all in this manner, is their ability to perform the work. I think honorable members caunot have paid sufficient attention to the statements made by the Engineer-in-Chief, which I quoted on a former occasion, and to the statements by the Premier on the subject of labor. This passage should be borne in mind :— " Unless a very large immigration takes place, it will be quite impossible to carry out the wishes of the Government, and finish the railways within the time proposed. It may be seen, from the increasing wages of workmen, and the difficulty of getting men at any price, that public works are being pushed on as fast as the labor market will bear ; yet the length of railway under contract for a great part of the year was only about 250 miles, while it wiU be, in a short time, 560 miles, and, before the end of the financial year, 730 miles. The Colony is now in so prosperous a state that employment for all the available workiDg men would be found, even if no public works were going on." There is another passage which refers to the quantity of works already on hand and shortly to be put in hand, and to the difficulty of obtainining labor for it. Now, if we are unable, as apparently we shall be— judging from the reports that are placed before us, independent altogether of our own knowledge of the circumstances of the country — to procure labor to complete our own public works, is it wise or is it prudent for us to authorise the construction of additional works by other bodies which will come into direct competition with our own works ? I feel that there can be but one answer to that — a distinct negative I feel that, so far from encouraging other public works, or from giving facilities for carrying on such, works, it will be necessary for the Colonial Government, with the works which it has already undertaken, to hold its hand. I feel that it will be impossible for the General Government to carry out the scheme of works as authorized by Parliament ; that they will require during the busy months of the year to put some restraint on the prossction of those works, in order that the industries of the Colony may not suffer, or in fact be entirely ruined in many instances. I have felt it peculiarly hard upon me to speak in opposition to this Bill, because the circuit-stances of the part of the Colony in which I happen to reside, and in which all my interests lie. are such that I believe, under the provisions of this Bill, money might be obtained and expended with great benefit, and without serious loss to the r sfc of the Colony as would take place in some other parts of it. But, Sir, I think it is our duty, as members of this Legislature, to throw aside our own personal and local feelings. We are called upoo, not to legislate for any one particular part of the Colony, but always to bear in mind that the interests of the whole Colony are under our especial charge. Therefore, very much against my •wn inclinotion, my own feelings, and my own interests, I have been compelled to take the part I have done in the conscientious discharge ef my duty to tne Colony. The Superintendent of Westland will have to modify his personal feelings and opinions on the subject of borrowing, for if a considerable loan is not obtained, the Province must inevitably stand still.