PROVINCIAL EXPENDITURE.

Otago Daily Times, Issue 2258, 1 May 1869, Page 3

PROVINCIAL EXPENDITURE.

To ih Milw of the Otaoo Daily Times.

8m -1 have sometimes had a doubt whether Itis possible to stop a colony when bunt on a course of uncaleulatinct expenditure. It is so pleasant to be tlie mediom of circulating .money, that wo are apt to forget that tho jhourof repayment will come, and come, too, perhap« at a time when wo may be unable to answer its call, Tho depressed state of every industry is creating a saddening feeling (throughout tho colony— many aro anxiously asking where it will end, and fearing above all tiling any increaso to the already ovcrburtboned finances. But though tho woolgrower may grieve at tiie fall in the prico of wool, still ho produces the article at a trilling price "oinpared with tho cost of producing the cereal crops. Low prices of agricultural produce, high wages, and the want of commonage, are play ing sad havoc with our old settlers. Nor arc wo alone in this respect, for Victoria, South Australia, Now South Wales, and Tasmania are equally complaining. M.->ny in ttirea colonies, ns with us, have left off ploughing, and eke out a precarious subsistence from a few sheep and a f«w milch cows ; and to add to our discomfiture, the C-:pe weed is fast inking hold of our toil, as the Californian ihistle has forcibly poaxunsed itHelf of many of tho richest grazing lands of Tasmania. Thia litter variegated perennial, witb ita jointed roots, and its tenacity of life from the smallest portion, bids fair to become a perfect ni rec to that colony and its neighhours. But instead of meeting our enemies manfully, wo foster the disease by injudicious nourishment. The Government and municipalities sometimes create publio works sjimply to keep thioga quiet, and expend on unskilled labour what hereafter might bo an ample reward te that which is tkilled ; but thia must havo an end, arid when that end comes, the depression from tho unhealthy stimulant will bu terribly rcactio nry. Wiih a debt nearly approaching L 700.000, tho j Province nhould bu extremely careful beforo ' it incii'H a single shilling of additional Ita. I lility. The stimulus of railway cxpendi- ! ture mny produce a temporary glow, but j will it penmnently rtourinh the syßtein? . Can we i ear an additional half a I million to our loan liability, making | a total of sofiri L 1,200.000, aad absorbing fi'mio L7O 000 or LSo,oooof annual interest. Where is thia annual interest to C3inc from ? What latent sources of wealth are there whicli give us a fair promise of future wealth ? Wool i. as low ns it nearly can bo. Sheep a<-c becoming a drug on the market. Oats reah'/.^ less than 2a a bushel, and tho agriculturist has cr-ased to run sto<rk on the hundreds, every acre of which, Ub ior depasturing and availablu for salo, having been sold. A heavy reHpousibidty rests on those who have to legislate for tho Province and to administer its affairs. It is to be lioped that they will go to their task in a spirit of moderation and anxious scrutiny. Before indulging in visionary schemes it would be well to ascertain the exact stato of our finances, to see what land remains availablu for occupation and sale to Iwtia fide, *ettler<f, what encouragement wo can offer to immigrants; and when tho present Hundreds are dispoaod of, whore we aro to look next for moro land ? It is a thankless ofiice to suggest caution ; but if those who think it neeesriarj do not urge it, we mty find „ourselvca on the fatal descent beyoncl tho power of itrn.-st.—l am, &c., Vu;it,A.»iK.