ADDRESS BY MR WARD.

Poverty Bay Herald, Volume XXI, Issue 7004, 16 June 1894, Page 2

ADDRESS BY MR WARD.

Oamaru, to-day. Addressing a public meeting last night, Mr Ward said the conversion operations of the Government had saved £141,000 m intereat during the year. Referring to the private wealth of the colony he said that m 1885itwa5£125,000,000,in1888£120,000,000, and m 1893 £155,000,000. This showed they were not m such a bad way as some people tried to make out. The private debt was also decreasing considerably. He was m favor of reciprocity with the other colonies, but the other colonies were not so favorably inclined. He was not m favor of a retaliatory policy, but he had learnt that on the other side there was an intention of rising still further barriers against New Zealand produce, and it would be their business to see if they could not protect their people against low prices and bad crops, which brought many of the producers to their present position. The only remedy for this was the breaking up of large areas. Referring to the policy of the Banks, he said if that policy were hurtful to the people of the colony, it was their duty to try and get it altered. Large sums of money coming into the colony, helped the industries of the colony — and the contrary was the effect if the money was withdrawn. There had been a falling off m the Customs revenue during the past two months, and this they attributed to the withdrawal of capital from the colony, lf the country were to prosper, it was essential that the people of the colony should have money, and the Government intended' they should, and at cheap rates. He was not prepared to say just then what the proposals were, but they were well matured. They would not hurt any one, and would not create a finacial disturbance. The Banks would be able to continue their ordinary business without being affected by the proposals oi the Government. In a fortnight or three weeks they would know what these proposals were. It would also be the duty of the Government to provide cheap postage and cheap telegraphing.