Hawke's Bay Times. NAPIER, FRIDAY, APRIL 29, 1861.

Hawke's Bay Times, Volume III, Issue 172, 29 April 1864, Page 3

Hawke's Bay Times. NAPIER, FRIDAY, APRIL 29, 1861.

So, according to the Herald, which we have some reason to suppose is the “ Government organ,” our respected Superintendent and his advisers are in a fix as touching the Loan business, discussed with so much warmth and feeling at different times in this Province. We are heartily glad to hear it, and sincerely trust that, until some more satisfactory explanation can be given by the Government than we are at present in possession of, as to where the money is to go, no money may he got, at least by means of borrowing. There are many cogent reasons why no money should he lent to our present Provincial Government. One reason is, that that respectable body have no security to give worth a moment’s consideration, and another reason is, that up to this date the expenditure of public money in this Province is by no manner of means satisfactory. The case of Otago and the case of Hawke's Bay in the Loan business are entirely different, for it would seem that the Otago Government have some really useful and valuable schemes in view, depending for execution upon the raising of funds by means of Loans. Here, then, borrowed money, providing it be prudently spent (which, by the way, in the case of Provincial Governments is not very likely), is a valuable consideration. But where, as in the case of Hawke's Bay, the Government have very indefinite and unsatisfactory views with regard to the expendituie of their borrowed cash, or any cash at all, it is a matter of very questionable policy their being allowed to handle that cash.

Moreover, the question of—Who is to pay ? requires answering. With a Provincial Council entirely composed of men deeply interested in keeping up the present state of things, and who are determined to spend what money they can get amongst themselves, and who will also take equally good care to make the outsiders pay for their (the insiders) whistle, we say again, as we have often said before, that we sincerely trust no borrowed money will ever find its way into .our Provincial chest.

We differ with the Press as to the necessity of the General Government giving a guarantee for Provincial Loans, certainly so lung as that kind of business is conducted in the present fashion ; nor can we rejoice in the hope expressed by His Honor through his trumpeter, that the Provincial Council will join with him in a strong representation to the General Government upon the subject of its giving its countenance to the raising of this Loan. No doubt but that the Council

will join His Honor in any expression of opinion that responsible officer may suggest they (the Council) not being at all particular upon that score; but we devoutly hope that their endeavors in that direction may prove abortive, and that the General Government may prudently ignore the opinions of a body who about as much represent Hawke’s Bay 'as they represent Nova Scotia or any other cheerful locality.