MR WARD’S SPEECH.

New Zealand Times, Volume LXXI, Issue 4300, 8 March 1901, Page 4

MR WARD’S SPEECH.

The Hon. J. G. Ward, while at Te Awamutu, 'took occasion to speak upon the prosperous state of the country. It was a theme on which the Postmaster-Gene-ral'would delight to dwell. He saw the people prosperous, showed how buoyant our -finances arc, and, as was natural,

spoke with hope and confidence for the future. Notwithstanding the remissions i of .taxation, amounting to nearly threequarters of a million, the revenue of the current financial year has, up to the end of February, shown an increase ever that for the same period of the previous year of upwards of a quarter of a million sterling. If the proportionate increase were maintained, the surplus revenue for the whole year would not exceed three hundred thousand pounds; but Mr Ward ventures to prophesy that at the end of the financial year the surplus will amount to four hundred thousand. In every department of trade and commerce : the people are experiencing a period of r almost unparalleled prosperity, and the statistics of quarter after quarter have testified to the progress of settlers and the increasing productiveness of the . country. How far the policy of thei present administration has contributed to the prosperity it is difficult to estimate, but of this we may be sure, that the opening up of Crown lands for closer settlement, which has been steadily pursued for thd past decade by the ex-Minister of Lands, has in no small degrete contributed to the wealth and productive power of the country, especially of the North Island, the exports of which now, in point of value, are considerably in excess of tbei South. It is not astonishing, therefore, that Mr Ward should dilate with satisfaction upon the fact that the country’s finances have never stood higher in the London market than they do at present. Having regard to the hard, though somewhat fluctuating,."condition of the money market at Home, the figures cited by Mr Ward show that New Zealand’s bonds have considerably increased in value, a condition duo in the main to the progress, advancement and stability of the colony. The Minister likewise assures us that there is “a plethora of .money in this country to-day such as has never existed hitherto.’’ That there is dn abundance of capital is unquestioned. The low rates j of interest on flat mortgages and" the facilities offered to borrowers bear witness to the accuracy of Mr Ward’s'statement. Indeed, the State and its peiople may be described as enjoying a “boom,” and there are no indications that anything like a re-action is imminent. At all events, as far as the North Island is concerned, as thelre are large areas of land yet unsettled, and as the work of settlement progresses, the productiveness of the country must increase, and that, after all, is the foundation of our present and future prosperity. The Minister of Lands, pursuing the policy of his predecessor, will doubtless further facilitate the settlement of North Island lands, and push forward the construction of good roads for the convenience and comfort of the settlers in the iricre recently settled areas. A business man of push and enterprise, the Postmaster-General spoke of increasing the means whereby the country’s commercial relations might be expanded. He spoke with manifest deliberation and equally manifest neal conc6rning the construction of a State! cable between . New Zealand and the Commonwealth. Whether there is to bo a closer bond of : union between Australia and this country than will be established by commercial intercourse remains for thei future ! to disclose, but for the conduct of our ; trade relations the laying of another i cable is little short of an urgent neces- , sity to the business people of New Zea- . land and Australia. Some objectionj ; will he raised to this country’s incurring 1 the expense, and there may bo some t doubt whether the project can ho made 1 a profitable one at the low rate cf twelve -J words for sixpence that Air Ward pro- s poses shall be the tariff. However, thej c

laying of the cable, it is presumed, will not be undertaken solely by ibis country , still, ware the Commonwealth .not to join in its construction, the undertaking would not probably be too large for New Zealand to outer upon single-handed. The Postmaster-General realises that it is hopeless to expect batter terms from the Eastern Extension Telegraph Company, and so he has resolved, with the co-operation of his colleagues and Parliament, to provide a service that will bd a further aid to the speedy conduct of business and its expansion. The piojected cable and a cheaper rate at whiou messages may be sent will enable our merchants to increase their trade transactions with -Australia ; and as our aims are .to augment our productiveness ana make larger profits, any undertaking that will' further these objects should receive the support of the producer as weO as the merchant. Continued and unremitting enterprise! is the best that can he done by our commercial men for the commerce of this country. Thai ■ supported by the energy and industry ot our producers, and the extension ol facilities for production by these, who have the administration of public affairs, is mainly the way in which the prosperity and progress of the country can be maintained. It is evident from the PostmasterGeneral’s speech that he is not to rest satisfied with having provided a boon te, the people in the universal penny postage The accomplishment of lus latest project would be another tribute to In* genius, pluck and energy.