The Taranaki Herald. PUBLISHED DAILY. MONDAY, JUNE 19, 1882.

Taranaki Herald, Volume XXX, Issue 4071, 19 June 1882, Page 2

The Taranaki Herald. PUBLISHED DAILY. MONDAY, JUNE 19, 1882.

♦ Tiie Hon. Major Atkinson has this year laid aside his policy of " Political Rest " and come down to the House with proposals of a " progressive" nature. The newpolicy harmonised with the occasion, for the Colonial Treasurer had a " surplus " to announce, and it would have been unwise in him to talk of " rest," knowing that the colony was anxious for another plunge into the vortex of borrowing, that an impetus might be given to the already rapid progress New Zealand is now making. We, however, cannot but think that the Hon. Major Atkinson must have some Irish blood in his veins. We all know he is short-tempered and pugnacious ; but we scarcely expected he would show claim to Hibernian origin in the manner he did on Friday night, when, at the conclusion of an able speech, he dragged his " darkly shaded policy of '79 " over the floor of the House, and asked if some " kind gentleman would be pleased to tread on its tail." As might have been expected, the ire of party feeling was raised, and a short fight ensued, in which, our correspondent informs us, the Treasurer came the best off. It has fallen to the lot of few Treasurers, whether in New Zealand or elsewhere, to have the opportunity of making such a pleasant and interesting Financial Statement as that which we have already published; and it should meet with general approval. The revenue during the past year exceeded all the expectations of even the most sanguine ; and notwithstanding that untoward event when the attitude taken by Te Whiti forced a heavy expenditure on the Government, it is gratifying to learn that the excess of revenue over the estimate made last year remains almost wholly available for current wants —for once a real surplus without any straining of figures and facts. The chief of the proposals announced by the Colonial Treasurer is that of borrowing three millions, for the purpose of completing the main lines of railway. This portion of the Government policy, we are sure, will meet with general approval, although when the question of appropriating it comes on, there will bo wide diversity of opinion as to how it should ho spent. The minor proposals embrace the subjects of Local Government, National System of Assurance, and tho raising of a Colonial Loan of a quartor of a million. With regard to Local Government, the Ministry proposed to leave County Councils and Road Boards froo from central control, and their finance as distinct from

Colonial finance as possible ; or, in other words, the Road Board ancl County Council will have for the future a central Board, composed of irresponsible members, to contend with, in place of the responsible Ministers as at present. We scarcely think this will meet with approval, and tho Government will find in tho end that ifc will have to take over the main lines of road, leaving the branch roads to be mado and kept in repair by the local bodies. We are inclined to think that the national system of Assurance will meet with a similar fate, and that the Government will have to take over tho hospitals, and see to the distribution of charitablo aid, 1 meeting the cost out of the Consolidated Fund. As no doubt thoso who are forced to accept charitable aid from the Government are the class who have contributed largely to the revenue, having wasted their substance on articles which are most heavily taxed, it would be more just that expenditure for charitable purposes should bo paid from the Customs revenue, than that the sober industrious man should be made to contribute from his hard-acquired earnings. The suggestion to raise in the Colony a quarter of a million loan bearing five per cent, interest is an excellent one ; and one which, if carried into effect will prove a great success. If the debentures were made a legal tender, and made transferable as bank notes we believe that even a larger sum , than that mentioned could be raised by the same means. The objeot of the Government, however, is not to obtain funds for expenditure, but, merely to provide a class of security for the investment of savings, and as such we feel sure that if the loan is authorised the public will quickly avail themselves of this secure mode of investing their money. The public debt of the Colony is gradually increasing in amount, and is now stated to be over twenty-nine millions ; but there is a sinking fund of over two millions, which makes the net debt about twenty-seven millions. As a very large portion of this amount has been spent on reproductive works, yielding four per cent, on their outlay, and as the Colony is only paying four per cent, for the money, the public will see that, whilst they are enjoying the convenience of cheap and rapid travelling, they are the owners of a valuable property, which will eventually be the means of reducing the debt and taxation of the Colony. There is a vast amount of valuable information in the Budget. That on the incident of taxation very clearly proves that the industrial classes are not over-burdened; as well as showing that the adjustment of taxation in the other classes is fan 1 , and not excessive. By way of illustrating the steady progress the Colony is making, Major Atkinson dwells at considerable length on the rapid advancement of tho Savings' Banks and the Government Insurance Department. He, however, completely ignores Building Societies and Friendly Societies, which would show as good, if not superior, results. Friendly Societies especially should be encouraged by the Government, and not every impediment put in the way of their becoming legally constituted institutions, as is the case. We have before referred to this matter ; and will only remark that if the Government fostered these Societies there would be no need for their proposed National System of Assurance ; in fact, a very large portion of the population are already doing that which the Government are proposing to initiate, as if no such thing was in existence. Thoro is one thing we miss in the Statement— not a word is said respecting the renewal of immigration. Perhaps this comes within the province of the Public Works Minister to announce, but, as the cost of immigration forms part of finance, we should have thought the Colonial Treasurer might have referred to it, if only in a few words. Although some of the proposals we cannot agree with, and there are matters omitted which would perhaps have made the Statement more perfect, the Budget, as a whole, is tho best Major Atkinson has delivered. It shows care in construction, a close study of the several subjects dwelt on, and a diligent search for statistical information ; whilst a hopeful spirit pervades the Statement throughout. That it was well received by the House we are not surprised to hear ; and, on our part, we must compliment Major Atkinson on tho successful result of his labor. Mr. Bosworth is one of the directors in tho Iron Sand Compuny, but his name waH misprinted as Mr. Boswell. Dipththeria and typhoid fever aro at present existing in Wanganui (says tho local Herald), the former in a number of families. Sir Julius Yogel, who is now on his way to New Zealand, is accompanied by Lady Yogel. They do not intend to make any stay in Melbourne. The Ilawcra Star complains of delay in the transmission of telegrams to Hawera, and says tho cause is bad work in the Wanganui office. There must be something wrong in tho working o£ the Wanganui office, or complaints would not be so often made by the Press. . On Saturday evening last an accident happened to Mr. Begley in a very singular manner. lie was engaged with Mr. J. Tloskin in a trial of strength — their elbows resting on a table, and they had hold of each other's hands, trying which had the most powerful muscular action. Mr. Bogley's am suddenly broke above the elbow, with tho unusually heavy strain. DrLcatliam was sent for, and at once set the fractured limb, and wo aro glad to state that Mr. Begley is now progressing favorably.