SUMMARY FOR EUROPE.

Otago Daily Times, 27 April 1906, Page 1 (Supplement)

SUMMARY FOR EUROPE.

POLITICAL AND GENERAL.

An advance abstract of the state of the revenue account of tho colony for the financial year which ended on March 31 last was presented by the Premier in a public address, delivered by him at Unngiora, a Canterbury townsliip, on the 10th iust. The figures show that the finance of the colony is still remarkably buoyant. Mr Scddon claims, in fact, that he has improved upon the figures for 1904-5, and that he is able to show a " surplus" of about £775,000. That is, however, not .a claim which can be sustained. Included in tho amount so mentioned is a balance of £261,000, which was left in the Consolidated Fund after a sum of £500,000, out of the total of £761,000 to the credit of the account on March 31, 1905, had been transferred to the Public Works Fund, and included in it is also a, sum of £65,000 representing sinking fund accretions transferred to revenue. The tme surplus, constituted by tho difference between the ordinary revenue and the ordinary expenditure for the year, is approximately a- sum of £421,000. An increase of £231,100 from all sources in the revenue for the year, as compared with that of ihe previous year, supplies a, sufficiently clear indication of ths continued prosperity of the country. Unfortunately, however, the increase in the receipts of the Consolidated Fund is accompanied by a much heavier increase of expenditure. For, wo pather from the figures used by the Premier, the expenditure increased by about. £553,400. This is by far the least satisfactory feature of the accounts, especially ylicn it is remembered that the full effect «.' the increased payments which were disinterestedly authorised shortly before the general election will not bo felt until this year.

It is proposed by the Government, in accordance with a well-established precedent, to devote a portion of the surplus revenues of the colony to a remission of the taxation imposed through the Customs. .And, though Parliament will not meet until late, in .lune, 3fr Seddon, in defiance of all convention, proceeded in Jiis speech at Pangiora to indicate somewhat closely the lines upon which his proposals for the revision of the tariff may be expected to run. The duty on dried fruits, on maizena, and cornflour, and on potatoes is apparently to be remitted; ami that on sugar, tobacco (but not, it. would seem, on cigars and cigarettes), cotton goods, forfar and linens is to be reduced. According to tlie figures used by llr .Seddon in his speech, these reductions and remissions will represent a total concession in favour of the taxpayer of a little over £250,000. If the effect should be to weaken the colony's finance unduly, then Mr Seddon contemplates next year asking Parliament to agree- to an increase of ihc graduated land tax. In the ensuing session he intends to content himself with the proposals he has foreshadowed in respect of tariff changes. Apparently ho is not prepared to listen to the demands of manufacturers and others for an increasein tlio duties of protection that are levied.

■There were," he said, "some industries in respect- to which it might be necessary to amend the tariff, so as to remove existing anomalies, but lie was not going to introduce a general Tariff Bill, which would simply be a means of blocking the relief t-ho Goveminen. desired to give." 31. Seddon may, however, havo pressure brought to hear on him to include changes in the tariff in connection with certain industries, and it behoves those who strongly object to further protective charges being levied in be watchful, and resist any attempts in that direction being made. The complaints whioii have recently been made by labour unions and representative unionists throughout the colony respecting the administration of the Industrial Conciliation i:vA Arbitration Act invested the annual Conference of delegates from Trades ar.d Labour Councils, held this year in Christchurch, with a special importance. A rather critical situation has unquestionably been reached in respect to the operatic:! of the most extensively canvassed of the Labour laws of the colony. Unionists, dissatisfied with awards of the Court, which has not latterly been granting any increase of wages where this has been sought, have been threatening the cancellation of the registration of their unions, and have been hinting, not altogether obscurely, at a reversion to the

"good old method of striking," as one of Jhcm has expressed it. The discussion on )he subject at the Trades and Labour Conference was not very reassuring. It was chiefly directed to a somewhat startling proposal, submitted on behalf of the Wellington Trades Council, which invited a declaration by the Conference of want of confidence in the Arbitration Court as at present constituted. Tho motion was rejected, but those wlio opposed it spoke in terms not less suggestive of dissatisfaction with existing conditions than the language employed by the supporters of the proposal. Practically, the discussion resolved itself mlo an attack upon Mr Justice Chapman, the president of the Court, against whom—a man of the greatest experience and of the highest reputation—it was actually alleged that lie did not understand his duties, and that •lie was actuated by bias against the workers! The allegation so ridicidouslr transcends the bounds of reason that its indecency has escaped the. comment it might otherwise have excited. Upon several other points the Conference adopted conclusions marked by an extravagance such as the public has come to look for from it. On one quest ion it has performed a service by proclaiming the view of the party it represents, a contract has no sanctity m its eyes where the disposal of the land of the colony is concerned, for it proposes that, there should be a revaluation of all existing lenses granted by the Crown at the expiry of 50 years from the (late of the covenant, or upon the transfer of the lease. As thousands of leases for 999 years—leases in perpetuity, as they are called—have been granted by the colony, while, in ninny cases, ingoing tenants have paid to original lessees large premiums upon entering into possession, all of which would be sacrificed under the revaluation proposals, the Conference really seeks to repudiate bargains honourably entered into between the Crown and the tenantry, and to rob tenants of rights that have, frequently at heavy expense to themselves, been deliberately conferred upon them. Nominally, a war of freights has l>een instituted between two sets ot .steamship companies operating between New Zealand and Grea' Britain. One combine, for which the Government has always shown a great deal of favour, comprising the Federal, the Houlder, and the Shire lines of steamers, complains that an effort is being made by the New Zealand Shipping Company, the Shaw, Savill, and Albion Company—two companies that have been associated for many years with the ocean shlppiny, trade of the* colony,—and the

Tyser Shipping Company to deprive it ef the West of England trade, of which, ns the contractor under the Government for the maintenance of a service between New Zealand and ports in the West of England, it claims a monopoly. The New Zealand Shipping Company and the associated lines allege, for their part, that they have been subjected for some time to "pinpricks'' irom the combine, which, it is asserted, has been endeavouring to secure freight for England at rates lower than those openly recognised as fair and reasonable. It is by the Fcderul-Hoiilder-Sbire combine that, war has been declared. It has announced the establishment of a direct lino of cargo and passenger steamers between New Zealand and London, which will run at short and regular intervals, and carry passengers at rates in substantial reduction upon those now prevailing. Moreover, its steamers will take frown meat., butter, cheese, wool, and general cargo at "great reductions in freight,'' and through bills of lading will be given to all inland towns in the United Kingdom, America, and the Continent. Itis not to be apprehended that the other companies will not retaliate in time, but that time is not yet. Until the slack season is at liaiid there will probably be little to indicate that any departure from the normal ha.s taken place. As a matter of fact, the New Zealand .Shipping Company and its allies are able at. the present time to fill their steamers at their old rates. Moreover, they are protected in 6ome degree by the existence of contracts which secuie to them, for a period of years, a large proportion of the meat and dairy produce export trade of the colony. Tn the circumstances, the "warfare" does not yet offer much semblance of reality.

Through I)ie agency of the Pacific steam and mail service New Zealand has been 111-ought into more intimate relations with California than with any other portion of the United States, and the news of the appalling catastrophe, which lias almost blotted San Francisco out of existence for the time being, created a genera] feeling of dismay and stupefaction in the colony. Various proposals have been made for the organisation of efforts for the collection of funds in New Zealand for transmission to America to be applied towards the relief of the distress of the homeless and suffering, and the Premier, in the name of the colony, proffered a State contribution of £5000; but in the face of the intimations from President Roosevelt that external aid is unnecessary, some difficulty and delicacy are naturally felt about the prosecution of these movements. In Dnncdin the feeling of a meeting of citizens found expression in the resolution that steps bo taken to co-operate, if required, with other centres in the colony in raising funds for the relief of the New Zealamlers -who reay have suffered grievous loss in California-. A local effect of the calamity was seen in a sharp drop in the quotations for shares in the New Zealand Insurance Company (unlimited liability), which operates in America, and held extensive risks in San Francisco—though'there is some question whether its policies covered exceptional occurrences of the kind responsible for the losses of last week. The shares in the company (£2 paid up) dropped suddenly this week from £5 14s to as low a figure as £2 17s 6d.

It has been unofficially announced that the Bank of New Zealand has had an exceedingly successful year. The amount of the bank's profits has been growing each year, and it is asserted that the present year's surplus will he larger than ever, and will constitute a record in the bank's history. A portion of this success is due to the realisation of certain of its inferior assets, which have been turned into a. liquid, and consequently money-earning, state; hut apart from this the volume of business has increased to a very large extent.

In a remarkably large proportion of the municipalities of the colony there was this year no contest for the mayoral election. Councillor Lawrence has 'been returned, ■without opposition, as the Mayor of the City of Dunedin for the ensuing year, and Sir John Hall lias, with Uie unanimous consent 01 the citizens, been elected to the mayoralty of Christchurch. In the latter case a- special compliment was involved in the election, for it was deemed fitting that, for the year of the International Exhibition in Hagley Park, Christchurch should have as its chief magistrate a citizen whom all classes of the community delight to honour, and saw an one was found in Sir John Hall. The Hon. T. W. Hislop was re-elected without opposition to the mayoral chair in Wellington, and Mr A. M. Myers, after a contest, in which, however, the opposition to him was hardly serious in its character, was similarly re-elected in Auckland.

The Government has embarked in business as a. retailer of coal from the State mines. For the present its energies in this direction are confined to Wellington, where it has acquired the business of the Westport and GYeyinouth Coal and Produce Company—which is not to be confounded with the Westport. Coal Company,—and entered into the possession of premises from which it disposes of coal for cash; but- it is announced that it proposes to initiate a retail trade in other parts of the colony, and in still others to give municipalities an opportunity of doing so. The simultaneous incapacitation of the Auditor-general (Mr ,1. K. Warburton) and of the Assistant Auditor-general (Mr J. C. Gavin) has necessitated the Government acting in term.? of the Public Revenues Act and appointing a. Deputy Auditor-general. This appointment has been conferred on Mr j, W, Poynton, Public Trustee.

The jubilee of Presbylerianism in Canterbury was celebrated at the beginning of this week by special services and meetings in Christchurch.

Among the deaths which have been recorded in the past three weeks is that of Mr J. Nugent Wood, ex-warden and magistrate, who played a conspicuous part in the history of the Otago goldfields.