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New Zealand Times, Volume XXIX, Issue 4287, 16 December 1874, Page 2

Thu New York journals call for more submarine cables across the Atlantic. They have become so indispensable to commercial men, who habitually use them, that the slightest derangement of the wares throws business into confusion. A few weeks ago, a break occurred in the European cables connecting at St, Pierre.- Communication was interrupted for twenty-four hours ; but long before insulation was restored, there was a general outcry. “ The value of telegraphic communication,” mites one of our contemporaries, “was felt very strongly by the mercantile body, who were left in ignorance of the fluctuations of values in Europe, though owing to the absence of Stirling events there, the general public did not feel the interruption very much.” The moral of the lesson was, that the public should not be content to depend on one or two cables tei - - minating at the same point, and therefore exposed to the danger of being rendered useless by the same accident or local cause that disables one. “Proippt communication with Europe,” the newspapers say, “is as much a necessity now as the morning newspaper, and we cannot be content to remain exposed to the danger of being out off from hourly information of what is passing in the old world. We must have more ocean cables.” What the submarine cables have done for America, will lead to the hope that at least one wire will soon connect New Zealand with tho telegraph-circled world.

Tasmania appears to have at last thrown off the lethargy which so long affected her, and to have begun in earnest the race of rivalry in which the colonies are engaged. From a table published by the Iltharlon Mercury, we see that the imports in the first ten months of the present year have increased, from £033,915 iu same period of 1871, to not less than £1,029,393. The increase has been gradually; but was most marked in 1873, when for the like term the figures were £914,108, as compared with £648,006 in 1872. Though the exports have not increased to the same tune, they too are satisfactory, and indicative of progress. The exports have not for some years —if ever—equalled the imports ; hut iu the same ten mouths of the present year they reached a total of £734,559, as against £570,583 in 1871.

New South Wales, which has relaxed rather than increased her tariff, is enjoying so large a measure of prosperity in her commerce as to encourage her in the effort she is making to combat with a free-trade policy the aggressions of Victoria, with her protective policy. Mr; Lloyd, the Colonial Treasurer, says the Herald, “ has had the rare good fortune—which never fell to his predecessors—of unfolding two successive budgets of a most satisfactory character.” Last year he was able to show a large balance to credit, and abolish the ad valorem duties. For 1873-4 he presents a return showing a still greater surplus. On the Ist of January last he had a balance of £720,089 in his favor. The revenue actually received to 30th September amounted to ■ £2,376,822, and £1,081,155 was expected for the ensuing quarter. The total charges for the year would absorb £3,506,780, leaving a surplus of £694,046 to be carried forward to 1875. That sum added to the anticipated revenue for the year would leave £4,213,286 to be dealt with. The regular Estimates for the year provide for expending £3,423,461, or less than the amount the ordinary current revenue receipts would provide for.” From this surplus the Treasurer proposed to pay £261,000 as interest on the public debt, and to redeem £51,000 of debentures due in June next. A sum of £241,500 to be received for conditional purchases of land was also to be applied in extinction of debt. During the past four years the actual has exceeded the estimated revenue of New South Wales by £1,655,471.