THE FINANCIAL STATEMENT.

New Zealand Herald, Volume XIX, Issue 6424, 20 June 1882, Page 5

THE FINANCIAL STATEMENT.

.' ''.OPINIONS OP THE PRESS. J [BY TELEGRAPH. —OWN CORRESPONDENT.] , : •' - Christchurch, Monday. The Times of this morning : says : —" A handsome surplus and a moderate loan are tjhe main features'of the financial statement of 1882. The first is the. Treasurer's best card, while the second appears to have-been placed, if not with reluctance, at lea,st with much diffidence. .The announcement we take' to be a sign that Ministers: have discovered that the hint they gave in the Governor's speech, of the possibility of a loan with schedules, lias produced a general consent among members of the Legislature: to further borrowing.\- A new loan is, of course, a necessity,to'people committed, as we are,; to a great and progressive system of public works. ■ For such, a people to stand still is to go backwards. That, is the view the Treasurer has taken, and has justified it by an elaborate: series of old reasons which he appears -to look upon in the light of so much , new matter that he has discovered. We at once congratulate the Treasurer and the colony on the surplus. We.should be able to do .so more, heartily if some of it was pot admittedly derived from the loan. The'intention of• the Treasurer to devote a portion of the surplus to some of the ordi-> nary expenditure, which last year was met: out of the loan, is an admission that the money has . been to assist the surplns. It would-be a wiser thing toreplace the amount borrowed, than to propose to;deal with the surplus." ; As to-the revenue of next year the Pres3 remarks•:—'? Our only complaint is that the Treasurer has made the same mistakes this; year "which he made last, of omitting from i the -body 'of the "statement the totals or- summaries of fieures, which are only to j be found in the tables attached to the stateI merit. 'It would have lengthened the statement by 10 minutes of time, , or 10 lines of space, to have recited these figures at. full length. Had. that been done, .the public would; have, had-- the.:whole story of the. finances before them in our impression..'. We are more surprised-at Major Atkinson repeating the: blunder, because his attention was■'called '.to.it last year, and he appeared to realise the defect. Thequestion is whether the : House of. Representatives will have the fortitude and -prudence to echo the notes sounded by Major Atkinson, and resolve to say that New: Zealand shall,for the.future, borrow ho morei , save upon, terms that will: admit pf her credit standing as high as her, splendid' resources warrant. -.If! Parliament does' this it will have done far more,service to the country:than most.of its predecessors. A commendable proposal is that with refer'ence to the support of. the Hospital Lunatic Asylum. It; may be pointed > ont that they 'are under the-immediate control of the Government in. the matter of maintenance.;; so, too,- are institutions such as the Burnham: Industrial School, and there is no practical 'reason why the hospital also should not be directly supported from the consolidated reVenue. As the Treasurer points out the advice ! and active assistance of local boards will still ,be required for the prevention of abuses. The proposals relative to the finances ;of local bodies- - are > -yet in embryo. Their ;development will be watched for with keen interest. Upon one item of more than importance—the insurance proposal jo'f the Government—we may remark that the' 'outlined plan is a decided novelty. It is 'scarcely more than a theory, even in Europe,, iwher'e,: perhaps, it is receiving-the greatest, [amount of attention from Prince Bismarck." ..