POLITICAL ADDRESS.

Temuka Leader, Issue 1478, 11 March 1886, Page 1

POLITICAL ADDRESS.

Mr R. Turnbull, M.H.R. for Timaru, addressed bis constituents on Monday evening last about 500 persons being present. He first explained his reasons for joining the Stout-Vogel party, and then briefly touched on finance. He said we are in the position of t. man who had ah estate worth £2OOO with a mortgage oh it of £IOOO, and who, instead of making the best he could out of it, put away a certain sum for interest on the mortgage. New Zealand was naturally one of the most blest countries the sun ever shone on, but it had not been fairly treated. The other day a resident at Beaponufield had told him that in the settlement (here, comprising about 400 acres, there were 170 souls, of whom 66 were children. Well, on those 400 acres there were more people maintained than on the Levels and Pareora Estates. Jt was the monopoly of the land that caused the misery and starvation which existed amongst so many— a monopoly which had no right to be allowed. There would be no prosperity in New Zealand so long as this state of things continued. Under the property tax we are valued at £169,000,000, but were letting the best part of our estate lie idle While we exported about £7,000,000 of goods our imports amounted to about £7,5000,000 showing a marked balance on the wroag side. In some instances land was mortgaged four times over. The Government were the first mortgagees ani could fa I back on it. Then came Harbor Boards and Borough Councils, etc., with their rates ; next private mortgagees, and last, but not least of all, in many places Companies. He stated that Government owed £32,000,000, next the Corporations and Harbor Boards £7,000,000, and £30,000,000 was owing by private individuals. It was principally the large amount owing by the latter that caused such ruin and distress in the colony, for £4,000,000 went out on account of interest alone. The total indebtedness of the Colony was £94,000,000. What he proposed was that they should borrow five millions to help pay the interest on other moneys, the stern necessity for which course now most unpleasantly facedjthem. He would not be a party to borrow the five millions in driblets—at the rate of millions per annum for instance—but would like to see it raised in a lump sum. Adding to the five the one million on account of the North Island Railway, this would make six mxHiona they would have to borrow, and the judicious spending of thia, he was sure would help them out of their difficulty. With this he proposed to build the North Island Trunk line, the line ,io the - West, Coast, and the Otago Central. One million should be lent to very small farmers at low interest for short periods, and'one million should be kept in hand .He did not believe in the nationalisation of the land at ail,’ but, if t'm peop’e came and said they were prepared to sell their land for such and 'such a price, he would he in favor of Governui 'iit buying it, arid cu'ting it up into smaH holdings such as was done at the township! of Beacenkfield. He fdif oris would nnO advocate a Bank of Issue, for would'take' ifa notes if they could get a sovereign. Regarding Protection ho expressed himself against it* but he was in favor of prohibiting the importation of anything that-coiPd J He manufactured in the colony.' £600,000 worth of such woo’s were annually imported and (h>« sbou'd be stopped. He supported the construction of the East and West Coast line Inst session and should do so again, lie did not think there would be a dissolution before the House'met. If ibera i- to be more taxational*® would prefer a land and income tai.''"'.ljle ridiculed Sir Julius Yogel’a the Civil Servants, and was in favor of reducing the number of members of the legislature. Replying to questions, Mr Turnbull said that he was in favor of the Government bsying the large estates, if they could be purchased at a moderate price ; be was in favor of extending the franchise to single women and widows, thought there should be no more immigration, and was against selling the railways, A vote of thanks and confidence was passed.