THE FINANCIAL STATEMENT.

New Zealand Times, Volume LIII, Issue 9645, 2 July 1892, Page 2

THE FINANCIAL STATEMENT.

WHAT THE NEW ZEALAND HERALD SAYS. THE MOST GRATIFYING STATEMENT FOR YEARS. (by telegraph.—own correspondent.) Auckland, July 1. Regarding the Financial Statement the New Zealand Herald says :— 1 To deal with the Financial Statement made last night is easier and more agreeable than such a task has been of recent years, Mr Ballanca lays before theColony no new taxation proposals which have to be considered ; ho has no large scheme of public works in band ; he proposes no change in the tariff. Of all these things we have had in the past quite too much. The progress which the Colony has been making during the last few years is now becoming abundantly manifest, not only in our large exports, butTn the increase of our imports, causing a great and steady increase in the Customs. The greatest novelty in the Statement is the proposal for the acquirement of Native and European land for settlement. The Treasurer seeks to frighten the Natives by speaking of taxing their unused land which is still held under tribal ownership. However, he proposes nothing under that heading at the present time, but has a scheme not yet explained in detail by which larger funds are to be devoted to the ) purchase of Native lands, and by which half the purchase money is to be invested as a.i endowment for the owners. \Ve wish the Premier all success in the carrying out of this scheme, as Auckland would no doubt reap the chief benefit. Mr Ballance has also a scheme which is even more in the clouds for the repurchase for close settlement of private lands in Otago and Canterbury by making arrangements with the owners. We fancy that he will find it very difficult to carry out this. But there is no doubt the Statement shows that the Colony is on the whole in a most satisfactory position—is, indeed, in a much better position'than the colonies of Australia. It can meet all its liabilities, not. perhaps, with ease, but yet without any undue strain, and still can afford to devote something to the promotion of settlement. The proposals of the Statement may, we believe, be considerably improved by the House. In the meantime it may be looked upon as the moat gratifying exposition of the affairs of New Zealand that has been laid before the House of Representatives for many years.