The Patea County Press, (With which is incorporated The Patea Mail.) “Be Just and Fear Not.” MONDAY, MAY 17, 1895. THE PREMIER.

Patea Mail, Volume VIII, Issue 60, 17 May 1895, Page 2

The Patea County Press, (With which is incorporated The Patea Mail.) “Be Just and Fear Not.” MONDAY, MAY 17, 1895. THE PREMIER.

To-mobbow evening the Hon the Premier gives a public address in the Harmonic Hall. As Mr Seddon is known as a forcible and pleasant speaker, there is no doubt that he will have a crowded hall, although the night chosen is an awkward one. Considering the amount of work Mr Seddon always has on hand, and the near approach of the session, Pateans have been veryjfortunate in securing such a privilege Thereisalways a very distinct advantage in obtaining information first hand ; especially so when in doing so you get an insight into both sides of the question. We have heard a good deal about the bogus nature of Mr Ward’s surplus, and we may, perhaps, hear what the figures are really meant to convey—the real position of the colony’s finance, or aniraaginary credit balance'existing only in the shape of unexpended votes or unpaid liabilities. Mr Seddon is known to he in temporary charge of the Treasury; his source of in formation, therefore, must be unassailable, and consequently bis figures will be reliable. If Mr Seddon is reported correctly, his figures at Opunake prove an absolute deficit for the past year on actual revenue; but knowing thedifficultiesunder which a speaker labours in a small town where verbatim writers are a too expensive luxury, and the further chance of error in telegraphing, we are content to wait until we hear from Mr Seddon how the accounts of the year come out. Nor are we inclined to blame tooseverely if the accounts do shew a deficit. The financial famine through which thecolonieshavejustpast is quite sufficient to account for a very great shortage in revenue. How many business people are there whose anticipations of the Ist April, 1894, if put into print, would have been realised by their actual position on the Ist April, 1895. It is not the deficit for which we blame the Government, bnt the attempt to foist a misleading statement cn the taxpapers of the colony. From Mr Seddon’s figures, given at Opunake, the final entries of the colonial balance-sheet for the past year read thus: — Dr. £ s d To a mount borrowed from sinking fund .. 117000 0 0 ~ net balance brought forward from March 31st, 1894, after providing £250,000 for Public Works fund .. 40238 0 0

£1572158 0 0 Or. £ s d By net (?) surplus on 31st March, 1995 .. 139793 0 0 ~ net deficiency on year’s work ,* .. 174*15 0 0 £157238 0 0 We don’t say this is the actual position; we only say it is the only possible position that Mr Soddon’s figures, as reported from Opunako, will permit. In other words, to put it very shortly, the colony begun the year with a net credit balance of £10,238 (exclusive of the £250,000 for public works, which cannot bo fairly counted as a genuine credit, as it was practically earmarked for use outside ordinary expenditure, andhasbeen soused) and ends the year with a credit balance, exclusive of borrowed money of £22,793 ; and wo venture to assert that any sane man in business, whose accounts shewed a similar position, would consider that he had, during the year, made a loss of £17.415 ; and if he had borrowed £117,000 during the year, he still would not add that to his reduced credit balance, and cany forward £139,793 as his actual net surplus for the year. We shall be pleased to hear Mr Scddon explain this, as we presume ta tap beet} wropjty reported,