THE COLONIAL TREASURER AT DUNEDIN.

Temuka Leader, Issue 2769, 29 January 1895, Page 3

THE COLONIAL TREASURER AT DUNEDIN.

Dunedin, Jan. 27. The Colonial Treasurer was entertained at a social last evening. Mr C. S. Reeves presided, and nearly all the local members of the Legislature, among others, were present. HIS VISIT TO ENGLAND. Mr Ward, in course of a lengthy sneech, said it was remarkable with what sudden unanimity the most determined opponents of the Government had decided it was desirable that the Treasurer should remain in the colony; but he declared persons giving utterance to such expressions, if not Judas lscariots, were hypocrites of the deepest dye. THE ALLEGED DEFICIT. The cable recently published in England, that there was a probability of a quarter of a million deficit in the colony's finances, had not, as he had ascertained, gone through the ordinary Press channels, or been sent by the Press Association, and had not emanated from lleuter's Agency. But the statement had been disseminated by the enemies of the couutry, who professed auxiety to keep the Treasurer in the colony, and with a knowledge that the statement was untrue. During tho past few days he had had a careful analysis made of the podtiou, and the figures, which were on the safe side by a considerable amount, dißclosed,the very important fact that the estimate of the revenue in the Financial Statement would not only be realised but be exceedeu. True, ther e was a deficit in the railways aud customs, but he had forecast the deficit in both departments. As compared with previous year 3, every other department, however, except the beer duty showed a considerable surplus, aud the surpluses of those departments, after providing for the deficits in other departments and after discounting the remaining quarter, would leave an excess of £20,700. That meant that instead of a gross surplus of £341,940, as he had estimated, after March 31st, the gross surplus would bo over £350,000. He challenged the originators of the cable to England to come forward and openly admit it, as they ought to have faith in their own statement. He branded them as traitors to the interests of the colony, because they were sending out what was untrue. THE CHEAP MONEY SIjHEUE. Referring to tho cheay money scheme, lie said the Governnieut did not want to lend a penny so long as they caused a reduction of the rates of interest to producers so as to place the latter on an equal footing with produce;a in other colonies situated nearer tho inarkots of tho world. EXPLANATION'S. He alluded at smuo length to tho insinuation respecting the connection butweeu tho Companies with which ho was associated and tho financial institution*/. and iu tho courao of a statement . ls to tue position of the o*-;,„ 0 Central Railway vote said the Government has decided to I acquire all freehold lan 1 in tho vicinity of the railway, upon which they intended to settle men engaged at work on the line, and proposed also to adopt tho Victorian system by which meu worked throo days on tho railway and devoted tho remaining three days a week to the improvement of their own

sections. Respecting the statement made some time ago that £150,000 had been deposited in the Colonial Bank, he said the Government, being bound to see that the second million guaranteed stock of the Bank of New Zealand was invested in liquid securities, were placed iu a most difficult position. They had not used sixpence of the money in carrying on the business of the Government, but they said it was not right in the interests of the colony that the money should be invested in 1J per cent Government consols, or 2 or 2$ per cent British consols (sic), and they suggested to the Bank of New Zealand that the security should be got in the colony. They said that in the opinion of the Government it was desirable to a reasonable amount to get local institutions to take a portion of the money, and that was what was done. Because they did this they found people who professed anxiety to promote the interest of the colony endeavoring to discredit the Ministry for having carried out what, in his opinion, was not only a good thing, but the right thing. He quoted instances of Ministers holding responsible offices in New Zealand and the neighboring colonies visiting England in the past, and said that while at Home it would be his duty to frustrate the devices of the enemies of the Government. He had in his possession information which rendered it advisable that either himself or another responsible Minister should be in England for the purpose of doing something calculated to do a great deal of good to the country. The opponents of the Government might say, " Why not tell us what it is?" but he had never till the time was ripe told anybody what he proposed to do, and it woald be foolish enough to publish from the house top 3 what arrangements were goiug to be made, as a failure might eusue. POSTAL CONFERENCE. Alluding to the Postal Conference, he said he hoped to oppose the carrying out of any mail contracts towards which New Zealand money was given, unless white seamen were engaged on any of the steamships, and he would also find it necessary to try and connect one further link in the proposed Pacific cable. UiiCIPROCITV. Ever since the Government had been formed he had tried to induce the neighboring colonies to enter into a reciprocal tariff, and he would arrange, if possible, for such reciprocity with the other colonies. Iu conclusion, Mr Ward said he hoped next time he was in Dunedin to give succinctly the whole financial position of New Zealand.

A vote of thanks for the address was carried by acclamation. Mr Ward left for the Bluff at midnight.