TELEGRAMS.

Lyttelton Times, Volume XXXIX, Issue 3777, 28 February 1873, Page 3

TELEGRAMS.

■ rp*B NBW ZOALASD PMfIS iMfICIAWOK.J} ' ■ W«tM*STON, Fobs 87- . The political situation remains unchanged. Hemoraadums are..passing, between, the G<* ■ rernor and the Premier. It is said that Mr O’Borke intends to re*^r Bmgden entertained 280 spests aboard pattersoa to-day, and mode on excursion round the harbour. Phe portion of the Waitaki line let to Mr .nrooden is that between’ Osrnam and Hoerty;. Jfr Brogdqn’s tender for the Brunner Uoewid the line from Timaru to Young's Creek was declined. It will be let by public • tenderThe Bangatira brought 190 tons coal from Greymouth last night. Her engineers report oost fcvourebly on it for steam purposes.; Invsboaboiil, Feb. 27. A named Alexander Vollanoe -blew out his brains with a pistol, in his own bouse, while under the influence of drink. SIR D. MONRO AT WAIKOUAITI. Waixovaiti, Feb. 27. Sir D. Monro addressed three hundred perils in the Mechanics’ Institute, Waikouaiti j the Mayor in the chair. He spoke about two boors, and explained that the cause of his not . earlier visiting Waikouaiti was private business, and uniting friends in marriage. He congratulated the province on the prosperity, wbiobhe considered was greater there than elsewhere in No* Zealand ; this he attributed

.totheptfee of wool and the yield of gold. Se shewed that the gold export of the colony had fallen off neajiy ope million, while that of Otago had increased. The Public Works policy had contributed to the prosperity, but lie felt it his duty to point to the 'donger of borrowing, as apparently the interest on the debt wae likely to exceed the income. In 1867 the

.general andprovinciaidebt wae £5,701,193; in ■ Jane, 187*, thafonded debt was £8^75,991; unfunded debt, consisting of Treasury bills, deficiency bills, and bank overdraft was £785,000, together £10,160,000, on 28th of Sept. £8,88M9& The annual charge was .£618,885, while the Customs duty was only £818,379, leaving only £196,389 for the cost of Government. The Assembly had authorised the borrowing of five millions more, of which £8,800,000 was used.; But the cost of railways would largely exceed the estimate, ■and if the lines authorised were made and the. blanks filled up, the total debt in four yean would be 17 millions, and the interest at six per awt. would be £1,020,000. Unites the -comer was turned and the receipts increased, the prospects of the country were alarming. The ednytruction of railways was not a questioa iff political economy, but of business and ) -common sense, and the simplest way to judge was to consider the colony as a joint stock company with an unimproved estate,'when the proprietors before mortgaging would estimate Be value. The result would- de* pend ob tbd accuracy of the calculation, -'Mad if -too sanguine expectations were entertained it would be liable to disappointment, and rain would ■ensue. Whan Mr Vogel proposed the Public Works scheme be knew very little about the matter. Bls csleulatienebad not been realised. The cdooy,aecoiding to them, should now receive a revenue from railways, but none had -been received, epoept from the Christchurch and Rangwradiaei. The Public Works scheme was merely a party move. Victoria discussed the plan for two yean in pamphlets, the papers, and in the legislature, before adopting the railway system. Mr VogeTs scheme was passed by a moribund Parliament, and with prepared bills, without public discussion, and without tin content of the ownen of property. Jf Mr Vogel’s calculation s wen correct, the scheme would be a great success; if they were over-estimated, the country wae pro* ‘grassing to a fine mess, and to a debt too heavy for it* industry to bear. He believed xB-nQwpyt where the district wae favourable. Re MNottd one in Mari borough in 1861, which Was opposed byHr Fox, not on the purest Wfunq, and the Act was disallowed by the Heme Government. He woe one of the few who had f hand in railway construction at Don btwmfain, which foiled, and the mils wen arid. He was convinced that the •ountry should creep until it was aide to go, md emmea roads won cheapest until the inflr|titiffpd iwlraKfo. He thought he was jusjtitod' la fffjQg that • lino from the North to lunwmytt would pay. The principal fontoM lint Session vne the great party fight. Paring Itlo ween Miaisteredid not attend to dhefointins. Mr Vogel liked diplomacy, and Weto toAtutalii. Mr Fox visited the digZbc Public Works in tfao North. Island wow handed to MrOxmond, «nd thsnwintho Middle Island to Mr Beovee; tiwlatterhfedfyafoednfavourable impnmdse byehtefyMtoWhHflnsw. The amngemonUwith Mr Nwggsp wew not fovounble to the •eeiony. Tb* indifference of Messrs Fox and Vogel bad • disgusted many. Mr Stafford ronaoguentiy moved resolution*, and be be•forte Pweifor, but was unseated by means sot to the Treasurer; bis promises to Mr iptmlMtod, of Nelson, were an ekample, if tiis tctoffieiiis wiirr trim A veto o« thank* endeonfldenoe wae carried, *****