SPEECH BY SIR JOSEPH WARD.

New Zealand Herald, Volume XXXVIII, Issue 11842, 20 December 1901, Page 2 (Supplement)

SPEECH BY SIR JOSEPH WARD.

THE FINANCIAL POSITION. Gore, December 17. In" accordance with a promise made to the Mayor of Gore, Sir Joseph Ward arrived hero this morning to lay the foundation-stone of tho new post office. Tho occasion was also made the opportunity for the delivery of a political address, and a banquet was held in honour of the occasion. Lady Ward was also present. A large crowd assembled at noon to witness the function at the post office, but the people did not manifest any marked enthusiasm. In the. evening the Town Kail was crowded to the doors, and the audience listened m \st attentively to an address lasting for two hours. Sir Joseph said there were a great many people who cried aloud to stop borrowing, but they did not realise that this country could never be carried on without borrowing. Tho population was small, but tho railway and '.telegraph facilities were there for thousands more, who would come as time went on. He predicted that great as the progress had been, the next 25 years would see an' even greater transformation. J. he debt had been increased in the last 10 years by £10,000,000, but this had been utilised as follows: '£2,700,000-for the our chase ' of'land, £1,205,000 for loans to loc^l £? S^'nnn'f 3,33 y° r advances to settlers, for public works, £1,407,700 'or H " fun , d- ,C j ix hundred settlers had availed themselves of money placed at their disposal, and over £85,000 had already been repaid by excess of interest alone, and the;mlni.v L £° n " ne 1 S lnade in the whole colony. rho expenditure of the last vear bad been abnormal The war, the visit o< tho Duke and Duchess of York, and (grants 10 education, amounting to over £300 nro were non-recurring. 11l predicted that £ ear ending March, 1903, would show an excess of revenue over expenditure of £500 000 Srn^ $ th ° statements made Si coram,, the Government s action in rKc .he ,o as „ <v£S I Th^SS„" d 0 t t': pIiSIIIpS frozen meat, and said that Sr ® n - d Zealand lnrl 1 e fact that- Isew millions of the New a S o °uth Wat' two still unplaced, showed ?hl* T &, loanwas entertained of the eolonv's .to loan having been" SSf i SrfisrSdTi ™ °oT»stances. Tie nrr>f £11 er normal circumstatement that nothing bffT* th ® absurd | the settlers orwi H, § ad bee ? done for direct remi's-imil' !T enumerating various ss-t 1 rif tioned tliA i " Joseph also menhad received °|, lday , ques^ lon > and said he was to be mil r 6 that Order-in-Counoil matter andhe hoT' P , oraril ? dealin ? with the for the colonv ?? one day would be fixed tariff and cnTrl ~ touched on the Federal kets ■' "SUSS i, J r* ** further marerection of >„° , ha f be ™ provided for the thefr Co mm .cool stores 111 : South Africa -if £W'PnnT j lss ? one , r sported favourably and 'ffiSIbee1 bee ™'« l 'or subsidising: them H« M i steamers if the could, get months of 11 ! e -revenue for the eight a 4 n £ nnn 5 T r „ Was £3,387,300, as year A 237,000 for the same; period»last amf'o °- f th ? uks , to Sir Joseph Ward bv acehinvft" 06 ™j ° .^ >istry was carried Tim •>, ou > with some enthusiasm. ve™.pffiSS™" gelr,sttemleil - ■ and '« ry pleasant evening was spent.. :