OUR LETTER HOME.

New Zealand Herald, Volume XXVIII, Issue 8473, 26 January 1891, Page 9

OUR LETTER HOME.

* EF OF.e entering into a statement of the ilitieal position we may deal briefly p the far more satisfactory theme ot the material state of the colony as » nivn bv the statistics of imports and wrts " New Zealand for the last few ex! r has surprised all concerned with it, and even those i n i,. lf i the profoundcst belief 111 v 1 ".mc'ties of production. While the colon v was borrowing largely, and spending every year large sums of ,»v obtained troni loans raised on the Tmuiou market, the whole commercial m l financial position was abnormal. All sober-thinking men began to be apprehensive. We were afraid to go on Ln-owinc, and we were afraid to stop. We dreaded that when the expenditure 0 f lean money came to a conclusion i' ipr e' would be a collapse. But the crisis had to be faced, and "No more Arrowing, whatever may be the confluences," was the watchword. For last three or four years, loan expenditure has been a very small ali'air. 'Iht'ii the colony had to face an of the difficulty in other shapes. The dropping down of loan ex iture was coincident with new taxation in various forms. Not only have we now a property tax to jv.y, but the Customs' tariff is siinnlv as high as it. can be. And |.«i'iies this, the expenditure for hospitals and charitable aid has bcui in a large measure cast upon the local bodies. The effect of all these things was no doubt severely felt for a time. Many old established business firms had to jiuvuiub, property in many cases was r ,-:uvely saleable. But then there seemed at once to come into play manifold influences making for a better state of flairs. Men engaged in trade and commerce, who found that there were too many competitors for the volume of business, took up land in the country and became producers. Capital and energy were not diverted by speculations, but were directed to safe enterprises. Cur imports for some years fell away to an enormous extent, but very soon the exports began to mount up. We give the figures of our exports fur .-ix years past. EXPORTS. 18S5 ... ... .. £6,735,5G2 IBBti ._ ... ... 15,534,513 1887 ... ... ... 6,680,772 1 S>B ... 7.707.,'525 1889 ._ ... ..„ 9,339,205 1890 9,824,109 Our exports may be said to amount, in round numbers to ten millions, an unprecedented output for about 600,000 people. The imports continued low for several years, the surplus, of course going to "right'' the colony financit.iiy. IMrOKTS. ]>$•> £7,278,101 188 6,319,523 1887 6,004.281 IS>B 5,941,900 18>9 0,297,097 1890 ... ... ... 6,300,577

From 1573 to ISSsthere wis only one jear (1550) in which the exports had exceeded the imports. In 1886 the exports exceeded the imports by ilili.-dO : in 1887 the exports were in excess by £610,491 : in 18SS by £'].-£.'..42*>; in 1889 by £3,042,168; in 15:.") by £'3,523,532. We cannot expect this ratio to continue. The disparity between imports and exports shows that the colony has been largely indebted, and the gratifying fact is that we are able to pay oil our indebtedness at so rapid a rate. With tills improvement in our commercial position, we have naturally a considerable improvement in our revenue. In his last Financial Statement, Sir Harry Atkinson anticipated that at the end of the year he would have a surplus of about £23,000. But the House would not hear of the reimposition of the primage duty ; and *"hen the strikes took place, Mr. ilitchelson, the Acting Premier, stated that he felt compelled to announce that there would be a deficit at the end of the year (which closes at the end of March). But, notwithstanding the great and serious injury to all commerce by the strikes, by the stoppage of work and the shock given to confidence, so great is the elasticity of the country's resources that, at a meeting of his adherents in Wellington, on January 21, ►Sir Harry Atkinson stated that he had every reason to believe that at the end of the financial ear he would have a surplus of £130,000, besides being able to wipe off a deficit in the Land Fund. It will be seen that in the interesting memorandum furnished to His Excellency the Governor on his retirement, Sir Harry Atkinson states that the surplus at the end of the year will probably amount to £156,244. This is an unexpected and gratifying result. Perhaps the main element in our progress has been the increased settlement on the land. For the nine months ending the 31st of December last, the land revenue of the colony was £34,191 in excess of the estimate of the department for the twelve months. During the last year a large quantity of land has been taken up under the different systems now permissable by the Land Act. The greatest extension of settlement has taken place within the Auckland district.

At the date of our last summary the general election had been completed, and political arrangements were being made for the meeting of Parliament. These have now been completed. For some time Sir Harry Atkinson and his party professed that they were strong enough in the new Parliament to carry 011 the business. We are doubtful if they ever really thought so, or simply made the profession to enable them to c-onfcr a lucrative position upon Sir Hurry Atkinson, who has been in public life for many years. It has always been quite certain that Sir Harry Atkinson would have to retire. During last session he retained the offices of Premier and Treasurer, although he was not in the House. This was found to be a most mischievous arrangement for the party, and injurious to the interests of the country. Sir Harry's health has not improved, so that his retirement was a matter of necessity, lie would, indeed, have retired at the conclusion of last session had the Agent-General's office been vacant, but the appointment of Sir F. D. Bell extends to October next. Now, however, it has been arranged that Sir W. Fit/.herbert, Speaker of the Legislative Council, resigns, and Sir Harry Atkinson takes his place. Thus Sir Harry Atkinson resigns his place in the House of 1 Representatives and the Premiership. The retiring Government have recommended to be called to the Legislative Council the following gentlemen :—J. B. Whyte (Auckland) ; J. L. Ormond (Hawke's Bay); C. J. Johnston (Wellington) ; G. C. Bowen, (Canterbury); W. Downie - Stewart (Otago), and J. Fulton (Otago). There is considerable resistance to these appointments. The number of members of the House of representatives lifts been reduced to 70. Each of the new members has pledged himself to vote for a Bill enacting that appointments to the Council shall only be tor a period, and not for life. Certain members of the Assembly, on the day of the meeting of Parliament, presented memorials to His Excellency against any appointments being made to the Legislative Council. His Excellency, however, said he had already made the appointments, and that he was responsible for his action to the Secretary of otate. Delias written a dispatch on the subject, sotting forth the reasons 'Or making the appointments. Parliament met on Friday, January 23. The

Hon. Mr. Rolleston and Major Steward wore proposed for the office of Speaker. The former was supported by the Atkinson party and the latter by the Ballance party. Major Steward was elected by 3G to 2D. On the resignation of Sir Harry Atkinson, it followed as a matter of course that Mr. Ballance would be sent for and asked to form a Ministry. The progress being made, in that task will be found recorded in our latest news from Wellington. In all probability any Ministry will not try any new legislation this session. A considerable number of members under the lendership of Mr. Ballance are in favour of a land and income tax as against the present property tax, but there will be considerable hesitation at going into any experiments in -nice. The colony is doing well at present, and if not progressing by leaps and bounds as it used to do when we were spending several millions of borrowed money every year, is making rapid and steady progress, from which there will be no recoil. The best policy would be to retrench if possible still further, and to gradually reduce the property tax until it, was extinguished. Some part of the revenue will no doubt have to be raised by direct taxation, but the property tax is a very objectionable means. The annual meeting of the New Zealand Insurance Company took place on January 14. The report showed that the company was in a prosperous position. An interim dividend of "2s (id per share, at the rate of 12i per cent, per annum, was paid last July ; another dividend of the same amount was declared, with the addition of a bonus of 6d per share. The Australasian Association for the Advancement of Science has this year held its annual meeting at Christchurch. The proceedings were inaugurated by Baron von Muller, the retiring president, who is succeeded in the presidency by Sir James Hector, who has for so many years had charge of the scientilic departments under the New Zealand Government. A large number of gentlemen from Australia and Tasmania are present at the meeting, as well as a good representation from the different districts of New Zealand. A number of papers have been read chiefly bearing upon questions of practical interest. Mr. F. J. Moss, who was recently appointed British Resident at Rarotonga, has returned, after having visited all the islands of the group, and held meetings of the natives. The question of the liquor traffic was discussed. Mr. Moss proposes to institute a system of regulation and license, so as to check the importation and the use of spirits amongst the natives. Some of the natives think there should be strict prohibition. The adherents of the New Zealand Alliance have taken up the matter, and are endeavouring to have all traffic in liquor prohibited throughout the Island groups. The Employers' Association of Auckland held heir annual meeting on January 21, Mr. C. C. McMillan in the chair. This Association was formed during the strike, to enable employers to give mutual aid in case of strikes, and also to take part in the formation of Boards of Arbitration. The annual meeting of the members of the-New Zealand Educational Institute was held this year at Auckland. The sittings commenced on the 6th of January. Mr. E. M. C. Harrison, head teacher of one of the largest schools in Auckland, presided, and opened the proceedings with an address, vindicating the colonial system of education, and showing what was the true work of the teacher. There were present a large number of teachers from all parts of the colony. At subsequent sittings of the conference, a number of subjects were discussed, of interest to teachers, and to all who take a special interest in education.

With thegeneral depression caused by strikes, our goldtields fortunately have had nothing to do. The only question with them'was that of the coal supply to keep the main pump going, for that is nearly the only plant now worked by steam-power at the Thames. All the j batteries and crushing plants are furnished with water-power, and it is a j novelty to see the great mill power now in use driven by this silent force. This is a feature, but it is not the leading one. In the central lield the aspect of airs is encouraging. The tine prospects of the Moanataiari mine have inspired confidence in its resources, and it now holds the premier position at the Thames. This small section known as the Thames, does not, however, include the whole area of the Thames Peninsula. In the Tararu the Sylvia" company have, at a cost of £8000, erected a concentration plant. In Kuaotunu, the most northern goldfield of the peninsula, three batteries are now in course of erection. In Waiorongomai and Te Aroha arrangements are being made for extensive operations, and in Marototo the Australian owners are so satisfied with results that they are ready to launch further money into the venture. The improvement in the prospects of the Kuaotunu goldtields is perhaps one of the most noticeable features, and prospects fully verify the predictions made. So far as Ohinemuri is concerned there is no doubt that the welfare of this district depends on the introduction of the Cassel process of treatment for their ores. A site has now been secured which could be made available for all the district, but what steps may be taken will depend on negotiations as to terms. The Cassel process is the only one which can cheaply and effectually save gold from those refractory ores, and if its use is lost to the colony half the mining ventures will have to shut down. It is now on the boards that a company may be formed to work the process in New Zealand. Such companies have already been formed in America, South Africa, and Australia, but there is no place to which it is more applicable than New Zealand. Another new feature in gold saving is a plant constructed at the Thames on the Frieburg principle. It is elaborate, carefully worked out, and elegantly constructed. It is a concentrating process, but the concentrates have to be shipped away. The experiment—for such it is—is looked forward to with a great deal of interest. The plant is elaborate. It has been constructed on the most scientific principles under the supervision of experts, and it should do its work. An important find of gold and silver ore from Waiomo, about eight miles from the Thames, is also reported, and promises well. Altogether, we may say that the feeling in regard to our goldfields in the market, and at the mines, is healthy, and that the new year has opened auspiciously. Business in the Supreme Court has been almost totally suspended for the last month, during the long law vacation which commenced on the 22nd of December and terminates on the Ist of February. In order to prevent uncessary delay, however, Mr. Justice Conolly has held by-sittings in Chambers, Banco, and Bankruptcy at intervals, and this has had the effect of preventing accumulation of business in these departments. No cases of special public interest have been dealt with. The only one which calls for special mention is an argument on a point of law in the case the Queen v. Mackechnie. This was a case arising out of recent actions against the Kaihu Valley Railway Company for which he was solicitor, and the Grown mortgagees to the extent of _ £47,000. On foreclosing, the Crown claimed the deeds under which the railway com-

pany held their lands, but Mi*. Mackechnie resisted the claim on the ground that he had a lien on the deeds for his costs of £500. The matter has been argued in Court, but His Honor has reserved his decision.

Miss Janet Achurch, a cultured English actress, has for the greater part of the month occupied the Opera House, and was supported by her husband Mr. Charles Charrington, and a strong company. The plays selected for the season were of a class not particularly attractive in themselves, but the manner in which they were staged, and the strong lepresentations of the leading parts by Miss Achurch, made them successful. Amongst the pieces produced were"Forget-me-Not," "Camille," "A Doll's House," " Masks and Faces," " Fedora," " The New Magdalen," and "In His Power." On Thursday night a benefit was tendered to Miss Achurch, when " Masks and Faces " was repeated to a crowded house. At the close of the performance a magnificent album, with covers of New Zealand inlaid woods and photos of the company, and of New Zealand scenery, was presented to Miss Achurch as a memento of her New Zealand tour. The Harvey Brothers Minstrel troupe, with Miss Gordon Cunard as prima donna, commence a season at the Opera House to-night. Madame Burton has given a series of concerts during the month, and on Wednesday night a concert was given as a benefit to Miss Elsa May, the Australian prima donna, who is at present on a visit to Auckland. It was well-attended, and was a musical treat from first to finish. Mr. Fairclough's line dramatic and declamatory powers were shown in Tennyson's " Charge of the Light Brigade" and in Macau lay's "Henry of Navarre." New arrangements are being made for the introduction of new talent and companies. There is a. general desire on the part of leading artistes to get away from the hot weather of Australia to the cooler climes of New Zealand, and terms can therefore be made easier for our theatregoing public. After a life extending over ten years, during which time it scored many firstclass honours in the breeding of thoroughbreds, the New Zealand Stud Company some months back found it necessary to place its affairs in liquidation. Several efforts were made to promote the formation of a new company, to prevent the disruption of the stud, but these proved futile, and the celebrated collection of sires, brood mares, and yearlings were submitted to auction, at Sylvia Park, on the oth instant, when the amount realised (22,475 guineas) far exceeded the most sanguine expectations. The feature of the sale was the spirited competition for the stallion Nordenfeldt (a son of the famous Musket). Mr. J. B. Haggin, the well-known American breeder, cabled a bid of 4000 guineas for the horse, and an Auckland syndicate which was formed for the purpose of endeavouring to retain the young stallion in Maoriland, went to 5000 guineas ; but the Australian division were too strong, and at 5000 guineas the horse was secured on behalf of Mr. Samuel Hordern, of Sydney, who is laying the foundation for an extensive stud farm at Retford Park, New South Wales. The amount realised for Nordenfeldt ;is the largest price ever paid for a thoroughbred in Australasia, but as he is a proved sire, and as several of the yearlings sired by him brought very high prices at the recent sales, he must be regarded as a most advantageous purchase. Though the Sylvia Park stud has been broken up, Auckland still maintains her place at the head of the list as the possessor of the finest thoroughbred breeding establishment in the colony, the Wellington Park stud, over which Mr. T. Motrin presides, being composed of one of the most select collections of thoroughbreds that could be found anywhere in the world. It may be remarked that the Sylvia Park stud was one of the securities held by the Bank of New Zealand Globo Assets Company, and the great success of the sale has been most gratifying in the face of the pessimistic views held by Mr. George Buckley regarding the security.