PRIME MINISTER SPEAKS IN AUCKLAND

New Zealand Times, Volume XXXIII, Issue 7355, 6 February 1911, Page 1

PRIME MINISTER SPEAKS IN AUCKLAND

ENTHUSIASTIC RECEPTION SATISFACTORY STATE OF DOMINION’S AFFAIRS. REPLIES TO CRITICISM. PRESS ASSOCIATION. AUCKLAND, February 5. The Prime Minister addressed a largely attended public meeting in the Choral Hall last evening, and had an enthusiastic reception. Sir Joseph Ward said the finances of the country were in an extremely flourishing condition. For the twelve months ended January 31st last the finances had attained a position never-before reached. The total revenue received during that period had exceeded that of the preceding twelve months by *£1,088,000. For the ten months ended January 31st last they also had a record revenue, it being *£873,561 greater than for the corresponding ten months of the preceding year, and by the end of the present financial year they would have over one million sterling to the good in the treasury. The increases in the revenue were not brought about bj’ increased taxation. The customs tariff was not altered last year. So far as the increase in railway receipts was concerned, it might be thought that # ttus was brought about by the alteration in the long distance fares, but, -as a matter ,of fact, the extra amount received from that source did not amount to one-fourth of tho total increase. The Government hoped next year to make considerable railway concessions, particularly m the second class fares. (Applause). The only, decrease was in land and income tax revenue. This, however, was in reality a gratifying feature, as it showed that the taxation was inducing the cutting up of the big estates, for which, it was intended, and that more people were being settled on the land. Two or three years ago, during the temporary period of depression, they had certain people crying ont that the bottom was dropping out of the country, but the Government declared its confidence that prosperity would shortly bo restored, and this hod proved to bo the case. The talk, moreover, about people flying from' the country was contrary to fact, because during tho past few years the population of New Zealand had increased at a greater rate than in any of ths Australian States.

HELP FOR SETTLERS. They were told the Government -had To policy and was doing nothing. The Government had loaned ,£1,500,000 to local bodies at 3* per cent, plus sinking fund. During Last year *£407,900 had been advanced, to workers, and the total now advanced was <£1,152,000, whilst the total loans to settlers was over ,£10,000,000, They were constantly being told the Government was doing nothing in regard to land settlement. During the time he had been at the head of the Administration (he would not go any further back) a great deal hod been done in regard to the settlement of native lands. , The area of native land that had been worked in the Maori Land Boards was 1,040,525 acres, the area alienated 268,378 acres,. While the land iin course of preparation in the ntairfcet was 781,147 acres. The additional areas alienated by the owners, with the approval of the boards and the Native Land Courts was 1,198,225 acres leased and 35,956 acres S9ld. The survey of those lands was being pushed on with ©very possible dispatch. Every surveyor who was willing to work was being employed, and the Government was importing surveyors in addition. The Government had purchased during the same period native lands to the extent of 473,894 acres. There had never been a time when the administration of the Lands Department had been so active. Since he had been Minister of Lands (some two years) the land opened for selection in the Auckland district had totalled 662.366 acres. The lands opened in the Dominion had been 7,304,766 acres. 'The area now advertised as open in the Dominion was 3,230,730 acres. The total area of Crown lands under survey was 2.608.631 acres. (Applause). During the time the Liberal Government had been in power it had placed 103,000 people on tho land, and during the nine months ended December the number of new settlers had been 1500 (on 432,000 acres), representing about 6000 people. CORRECTING MISTAKES OF OTHERS.

Sir Joseph said ho had repeatedly challenged anyone to show that the Government was extravagant, but the only reply had been statements containing gross exaggerations. On© of the instances of alleged extravagance was the building of the Dunedin railway station, and one of th© opponents of the Government carried a photo of this building about with _ him, The foundation sttone of this building had been laid some twenty-five years ago by a previous Government, which shortly afterwards went out of office. The present Government had simply carried out this long deferred work, but because they spent an extra .£SOO or £6OO they were accused of extravagance. The present Government had now to pull down scores of buildings erected by their predecessors because the latter had not been prepared to spend a few extra hundreds, or thousands, in some cases, to make them suitable for requirements. The present Government had had to a certain extent to correct the mistakes of former days, and yet they received this sort of criticism. During the past four years and nine months, during which period his Government had been in office, the amounts expended on public works in the North and South Islands were .£7,139,510 and .£4,058,828 respectively —an increase of over £3.000,000 in favour of the North Is-, land. Was this done to pleas© the North Island people? Certainly not! It was done because tho North Island had been held bade through the Maori wars and. other troubles, and was now developing at such a rate that it called for larger expenditure. THE FIVE MILLION-LOAN. The criticism of Mr Massey in the raising of . the £5.000,000 loan was referred to by Prime Minister, much on ths lines of his references to the subject in his Stratford and Devonport speeches. The leader of the Opposition had stated that there was not the slightest doubt tha t the issue of tho loan had affected the credit of the Dominion. Mr Massey had compared tho 3-£ per cent, stocks of New Zealand and the Australian stocks. Everyone laiew that when a large, or moderately large, loan was floated it meant a temporary depression in these particular stocks. But why did not the leader of the Opposition quote the prices of the 4 per cent, and 3 per cent, stocks? The quotations for 4 per cents, were as foi-

lows;—New Zealand £lO4 10s, New South Wales £lO5, Victoria .£lO2 12s Gd, Queensland £lO3, The .prices of the 3 per cents, were:—New Zealand £B7 10s, Victoria £S4 10s, Now South Wales £B7 10s, South, Australia £Bl 10s, Queensland ' £B3 10s, Western Australia £B6 10s, Tasmania £BS ! 10s. The New Zealand stocks, with the! exception of New South Wales, were the' highest in each case, and in the case of the 3 per cents, it was, on a level with that State. These stocks did not fall at all, but had there been a weakening of our credit, as had been suggested, they would liave fallen at once. He had no doubt that the 3£ per cent, stocks would revive as soon as the underwriters unloaded the loan to’ the public. The loan had been successfully raised on most satisfactory terms, but yet the Government had been subjected to this whirlwind of criticism by men not any of whom could have told them how ho could have done better. (Applause.) The Opposition had supported the five million loan, with the single exception of that portion relating to the development of the water power, and be did not believe there was a man in the House who would have dared to vote against the loans for advance to settlers and public works. The criticism to which he was referring could only be described as political hypocrisy of the first -water. (Applause.) The Public Debt Extinction Act had been held up as valueless on the ground that it would merely provide .a huge sum which would prove a tempting bait that some hard pressed Cabinet could seize in the future. But that had been specially guarded against. The Act stipulated that none of the fund could be invested in Government stocks; that a special Trust Board, apart from the Government, should be established; that the funds as they accrued should be lent out to settlers and to local bodies; and that all scrip should have imprinted on the back that a sinking fund was provided. It would spell dishonour to touch it. Already two other Governments bad applied for particulars regarding the scheme. Already loans to the extent of over £IOO,OOO had been advanced under the Land Settlement Finance Act. and when purchases at present contemplated or in progress were completed the amount lent would be very much nearer £200.‘000. Referring to his coming visit to England to attend the Imperial Conference, Sit Joseph said his only regret was that all parties were not to be represented at that important event. He believed that it would be a great and grand thing if all classes of the commnnity were represented at the conference, and that in Imperial affairs there should be unauimity so far as New Zealand was concerned. (Prolonged applause). VOTE OF CONFIDENCE. A motion of thanks and of confidence in the Government, moved- by Mr W. B. T/eylnnd. and seconded by Mr P. J. Nereheny. was carried by a large majority, after the meeting had negatived an amendment by Mr W. Richardson condemning the Government's borrowing policy on the ground that further protection would give more employment, and would save the country paying interest to foreign money-lenders. * Tim meeting concluded with, cheers for tin* Pritpne Minister. Sir Joseph leave? for Ohaknne to-night.