PARLIAMENTARY NEWS.

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

PARLIAMENTARY NEWS.

POLITICAL GOSSIP. [TELEGRAPHED BY SPHCIATi CORnESPOMDEFT.] THE FINANCIAL STATEMENT. Saturday, June 17. — Tho Financial Statement was well received last night by both sides of tho House. It was a clear exposition of tho finance of the colony, and gave a general outline of the financial policy of the Government. The new proposals will of course bo discussed, both on their merits and also from a financial point of view, when the special measures dealing with them are before the House. The taking over the Hospitals as a solo charge on tho consolidated fund with local management, will no doubt commend itself to the country at large. With respect to Charitable Aid, the" insurance system is to be applied in aid of looal contributors, but in what special manner is not yet disclosed. The idea is, I think, of German origin. If I I recollect right Bismarck made a similar proposal in the German Empire to extinguish pauperism by a'system of universal insurance. The difficulty, I imagine, will bo to enforce contributions so that all may benefit in time of distress. The finance of a surplus of over £'200,000 is a gratifying novelty caused by tho expansion of trade. The Customs revenue is a pretty sure index of commercial activity, and the nett earnings of tho railways being equal to four per cent, on the cost of construction, is peculiarly gratifying Avhen it is proposed to increase the indebtedness by farther borrowing for railway purposes. AN ATTACK BY THE OPPOSITION. When tho statement was finished a few of the leaders of the Opposition got up and objected to that portion of it which referred to the financial crisis of 1879, when the colony was almost on the eve of being compelled to stop payment, owing to the engagements entered into by Sir G. Grey in anticipation of the four millions loan, which was not even raised. This was denounced us an exaggeration — if not quite misleading — and that in fact the loan had not been anticipated by the Grey Government, and that all the gloomy pictures were the morbid imagination of Major Atkinson. I presume the Opposition thought that a general denial of this sort would not meet with a ready and conclusive reply ; if so they reckoned without their host. During the discussion Major Atkinson had accumulated round him a pile of blue books, and when the opportunity of reply was afforded him, it was most complete nnd crushing. He showed himself master of the position, and completely refuted the statements made by reference to published returns, and left the Opposition gasping with astonishment, and silent. The triumph was the most complete I ever witnessed, and I never listened to a happier or a more conclusive reply given on the spur of the moment. The effect on tho new members was immense, and they find the Government will prove unduly strong on finance. The leadership has been very weak during the last week, but the return of Major Atkinson to the House has no doubt put some backbone into the Government benches.