New Zealand Times. MONDAY, DECEMBER 28, 1874.

New Zealand Times, Volume XXIX, Issue 4296, 28 December 1874, Page 2

New Zealand Times. MONDAY, DECEMBER 28, 1874.

Mu. Hayter’s comparative statistics of Australasia, printed by the Victorian Government, deserve careful study by every one who takes an interest in the progress of these colonies. Wo have already grouped the general results in a previous leading article ; to-day we propose to present some of tho more salient points in detail. Thus : Australasia, 1873. Popula- Foreign tim. Debt. Trade. Victoria .. .. 790,492 £12,4-15.722 £31,830,310 New South Wales 500,275 10,842,416 22,904,217 Queensland .. 140,090 4,780,850 0,428,012 South Australia .. 198,075 2,174,900 8,428,952 Western Australia 25,701 „ 35,000 603,545 Tasmania .. .. 104,217 1,477,000 2,000,723 New Zealand ..395,910 10,933,030 12.075,058 These figures are highly suggestive. They display an energy of trade on tho part of the colonies, and of confidence on tho part of capitalists, without a parallel anywhere. It is sufficiently astounding to state that a population of 2,121,460 — man, woman, and child—scattered over the Australian continent, Tasmania, and New Zealand, should owe £42,079,423, or something over £2l per head, to “ tho “ public creditor,” but when it is added, that the foreign trade of this industrial population, as represented by imports and exports, for a single year (1873), amounted to £84,235,834, the faith of “the public “ creditor ” in their power of meeting all legal engagements, need not bo wondered at. Of course tho domestic trade of tho colonies must be on a comparatively largo scale. Tho purchasing power of tho

people is, however, represented by imports, and these foot up a total of £42,218,025, or as nearly as may be, the equivalent of the total public debt. The imports and exports of Australasia, however, very nearly balanced each other for the year under review, as the following figures show : Imports, 1873 £^’SS’2oo Exports, 1873 42,017,i90 If we examine the statistics more closely, however, we shall find that Victoria, which has the smallest territory of any of the Australasian colonies except Tasmania, has by far the most numerous population. Its foreign trade is likewise large in proportion. New Zealand, with less than one-third the area, and one half the population, of New South Wales, at the close of 1873 had a largci public debt than that colony. Indeed, the public debt of New Zealand, on the 31st of December of last year, was within £1,531,786 of the amount owed by the much more populous colony of V ictona. If we carry our comparison a little further, we shall find that relatively to area, population, and foreign interchange, the public debt of New Zealand is greater than that of any other Australasian colony ; but so likewise is our productiveness, as we demonstrated in a previous article. And in matters of this kind, the productiveness of a country counts for much. . , ~ Mr. Hayter’s comparative statistics are valuable in another aspect. They enable one to understand bow the public estate has been dealt with by the several colonies of the Australasian group. Thus, it would appear that New Zealand had alienated' more land than any other colony, up to the end of 1873, and we need hardly add, that haste has been made by the provinces since then to sell the residue. The figures, as they appear m the summary before us, tell their own tale. Thus: — • . . ~ Area, square Granted and sold, miles. Acres. Victoria 88,103 9,401,050 New South Wales 323,437 Queensland .. 678,000 South Australia.. 914,730 Western Australia 978,299 i’Snl’aor Tasmania .. .. 26,215 3.905,485 New Zealand .. 105,000 10,520, ie9

We shall not theorise upon these figures, although it would be easy to do so. Suffice it to say that the wholesale alienation of land in New Zealand and Tasmania did not result in securing as large an agricultural population in each as might naturally be expected from it. Indeed, the tendency has been all the other way in Tasmania. _ Agricultural settlement has progressed in New Zealand ; it has retrograded in the sister island colony. If, however, wo had a comparative return of the land held under the Crown as sheep and cattle runs in the several colonies, it would be found, we think, that in this particular, ISew Zealand does not exhibit such large monopolies of the public estate. There is doubtless, some excuse for the New South Wales and Queensland squatters Much of the country is, for climatic and other reasons, unsuited for agriculture, and it is much better to occupy the land for pastoral purposes than not to occupy it at all. In many parts of New Zealand, however, the very best of tho_ soil is closed by runholders against agricultural settlement. We shall conclude this article by a comparison of a different set of figures, illustrative of the progress made by the respective colonies in promoting interior communication, by moans of railways and telegraph lines. New Zealand does not appear to so great advantage as she will when the comparative statistics of 1874 are published ; but, considering the short time since railway construction was commenced in this colony, we have no reason to grumble. The figures ara as follows: — Miles Railway ’ Miles Tolo ls ' 3 open. graph open' Victoria .. .. 453 .. 3870 New South Wales 401 .. 6521 Queensland .. 218 -. 3059 South Australia .. 202 .. 3807 Western Australia 30 .. 900 Tasmania.. .. 45 .. -91 New Zealand .. 145 .. 2359 It is a fact really worth recording that Australasia had 1,499 miles of railway, and 20,837 miles of telegraph, open and profitably worked, on the 31st of December, 1873. • These represent a large proportion of the public debt; but in addition, there are public buildings, docks, wharves, water works, and a variety of other useful and necessary undertakings which have been carried out by means of borrowed money, and which the colonies reckon as part of their fixed capital. Under these circumstances, and considering the very sparse population which occupies these great countries, we cannot agree with those who think that the borrowing power of any of the colonies is nearly exhausted, so long as money is wanted to carry out a truly colonizing policy like that which New Zealand has embarked upon.