The Financial Crisis.

Southland Times, Issue 9544, 14 June 1887, Page 3

The Financial Crisis.

TO THE EDITOR. Fill,— That New Zealand has reached a crisis in its history no reasonable man can for & moment doubt. For Home considerable time psst the colony has been " living beyond its means," and now the moat ingenious efforts of our most ingeuiou 1 ! financiers to make it appear that our income is anything like equivalent to our expenditure have rao.t lamentably failed. The taxpay- I ers have indeed been long-6u2erin? and have submitted in a truly lamb-iike spirit to seeing their nurd-earned money cheerfully squandered by the patriots who are supposed to have their best interests at heart, Fswt experience must have convinced electors that small c -ufiJeace can be placed in their representatives when the litter are left to their own devices , the very atmosphere of Wellington .<eems to have a deteriorating influence, it' the colony is to be saved from very serious fiaancial embarrassment our expenditure must without delay be brought within moderate compass. This can on'y be effected by a drastic measure of root and branch retrenchment, and such a measure can only be ensured by electors exacting from those who aspire to represent them & definite pledge that they will devote their best energies from the mo-nent they reach Wellington to the accomplishment of this end. It will not be safe to rest content with general assuraucs in this connection ; specfi ; points should be emphasised — such as the reduction of the number of M.'s.H.B., to, say, 50 or thereabouts ; the reform of the Upper Mouse, the abolition of certain useless but vary expensive portfolios, and so forth. The views of candidates on this all important matter should be the first consideration of electors, other questions of policy aTe comparatively insignificant when put side by side with this; for the point at issue really is how to prevent the colony from drifting into bankruptcy. To make sure of this matter receiving the attention at the hands of the public, which the urgency of .the situation demands, some of the leading citizens might, form some organisation to give the matter full consideration and formulate a line of action. One other suggestion, and it ia thib — Protectionists throughout the colony are showing signs of great activity ; already one or two avowed Protectionists are ia the local fields' t is therefore time Freetraders woke up. It has been suggested that Mr J. W. Bain should come forward for the town in the interests of Freetrade, besides the advantage of having had some political experience, Mr Bain is a man of proved integrity and would command the confidence of his supporters. It is certainly desirable that Invercargill should be represented by a man who would carry some weight in the House, and doubtless .Mr Bain would be prepared to pledge himself to a policy of thorough retrenchment. — I am, &c, R, B. T.