INCREASING DEBT-CAN WE STOP IT?

New Zealand Herald, Volume XXV, Issue 9132, 14 August 1888, Page 3

INCREASING DEBT-CAN WE STOP IT?

TO THE EDITOR. Sir, —It is anything bub astonishing t< find that the chief topic of conversation among the intelligent and tax-paying por tion of the community is the state of out finances. The colony's debt to-day is fat more than such a small and isolated community should have incurred, no matter how good the soil or how magnificent the country which they possess. We have borrowed, and borrowed far too largely, until at last we have lost (or pawned) both our freedom and our property. Need there be any wonder, then, that so many leave our shores to find a land —no matter how less genial the climate —where every other man is not a Government official, and where the incidence of taxation is at least tolerable. Now that taxation has become a heavy burden and oppressive in its operations, can we really be surprised that so many leave, and so many desire to leave this unfortunate country? Every impartial observer can see that legislation is chiefly directed in the interests oi' the barnacle and spendthrift class, who have no vested interests in the country, but a vote, which they can sell to the highest bidder. If we could for ever cease to borrow, the country might still be saved ; but it is self-evident that we must borrow as deficiencies arise from year to year,, ; for any further taxation would see the people flocking from us at any sacrifice, until only the Maori and the Heathen Chinee" would be left to fight it out. Alas ! this "getting into debt" is without doubb the most seductive vice of the age. It arises from the perversion of a natural and, when wisely directed, an admirable and essential principle ; but experience tells us that this principle must be very difficult! to direct. The time may come—at no distant date either—when the rulers of this country will be necessitated to borrow at) any rate of interest the lenders may demand, but that would not deter them from spending, as they have spent, many millions sterling on works that are unproductive and in many instances utterly useless. Some advise that our railways and telegraphs should be sold; but who would buy them ? And if sold would that) be a guarantee that the future rulers of New Zealand would nob immediately enter upon some new policy, and initiate some great public works that would necessitate our renewing the acquaintance of the great English money lenders. No, sir ; I would sell nothing, bub father would I propose to the bondholders that they assist us (and it is their duty to do so in some way) by their united influence to preserve their security intact and con serve their great interests in this colony,It clearly weakens their security if we continue to borrow, and especially if we had to do so at any price. I suggest that the holders of New Zealand stocks agree to reduce their interest to three per cent, on condition that the Government of New Zealand guarantee, with the approval of the Imperial Government, to borrow no more money, and incur no further liabilities, either directly or indirectly, for a period of, say, 30 years. This is the only solution I know of at the present time of our colony's difficulties. —lam, etc., Joseph APPOINTMENT OF TEACHERS. TO THE EDITOR. Sir, —In view of recent discussion as to the abolition of Education Boards, it seems' more than ever necessary that their doings such be above all suspicion. I regret, therefore, to call your attention to the fact thab the Auckland Board, in appointing a pupil teacher on Friday last, passed over the candidates, some of whom have been promised employment for more than twelve months, and appointed a young lady as pupil teacher to a school close to her father's home, who is beyond the usual age for & ! pupil teacher, and who has not been on the list of candidates. This is done while reports show that there is an excess of teachers, while other unlucky girls are sent* away from home with the alternative of resignation, and while young men are waiting employment who would make teaching their life work. It is true that the young lady was a pupil of the Girls' High School, and could therefore pass a higher literary examination, and that- her father has a higher social position than most of the other candidates, but that does not absolve the Board from their moral obligation to employ the applicants in their proper turn, nor does it prove that the young lady would be more efficient than the candidates who have fully qualified according to the Board's standard and have been trained in the public schools. —I am, &c., One Who is Interested