COLONIAL PROSPERITY.

Taranaki Herald, Volume L, Issue 12525, 8 April 1904, Page 4

COLONIAL PROSPERITY.

Tfte -aanouncen^nt by the Premier at Mastertett-on Monday that the strfphis foritlte ye"ar just ended will exceed £,750*000 does not come as a {surprise'?"} because $>redictious have for some time bbeii [rcely made that there '-Wofuld be an excess 01 revenue ampiiniing^ to aaiyfhing from toI.JX'SQO^QQQ The Dunedin Star, usually a wellinformed <p^ipe,r, says it is anticipated that the latter figure will'be exceeded. From nearly all potts the Customs revenue has lately; been reported as very * tjuoyant, large increases being- noted in most cases. At the same, time the rail; ways and other sources of- revenjue] have exhibited a similar b/uoyancy, sfhowtng that all parts of the colony and all classes are peiimeated with the same -progpfesrity.. The Star further announces -' that arrangements have heen completed whereby the Colonial, Treasurer will" liq,*uida,te the amounts yepresented by debentures shortly' falling due, the renewals being effected at four per cent, par, a not unsatisfactory rate, considering the, existing conditions of, the 1 money market. Our contemporary, also remarks that ample means are available for carrying on a vigorous but safe public wotiks policy, and that the people at 1 large are contented and undeniably .projsperousi. To <he latter remark we hare no exception to take,- for ;. the colony is certainly prosperous and, upon the whole, contented, thentgn there are some few wlio, t p(ull long faces and complain" of depression. TUie fact is that th« prolc&icing^ mr d)ustries are, almost without exception, unustially ; and tlie only "fly in the ojtatmenfc" is tihe te^nporary jtigJhtness of money, due to caufees iltogetsher beyond the colony's contcoL The demand for money in Bi^rope, in, t|ie Far East, an<d in j,South Africa, has practically closed the London market to these colonies), While the tremendous revival of pastoral indiustries in Australia, ./since the break-up of the drought, has created a demand there which the colonial banks find »it difficult to meet. Hence a general lightening of the plirse-strings of the lending institutions in this colony, which ;in some cases has doirb±less_cansed .individual iucojiv*nienc&.> Apart from that, however, the -colony is probably in a better and. sounder, '''position to-tf ay than «it ha<s ever been, and, there is every fe'asion to believe that When ' the monetary stringency at Home is relaxed New Zealand will, on account of the strength and soundness now being displayed, bo among the first to feel the benefit of the outflow of money. With regard to tihe Star's statement that "ample means are available for carrying on a vigorous but safe public works policy, V we should like to believe it. fin the face, however, of the linanner in Which we cam see public works beittg pottered witfr, in tfte^ face of I the difficulty experienced in •btaior 1 ing money for absolutely urgent road works, we cannot believe that ample means are-availaHei Other^ wise we, are fprqed, .fp t%^:, conclusion tha% B^inisters are not sincere wh-on ttoey ctdmit the urgency" re& works brought to their notice. Itt Wellingrtion there are stories current of payments having Ween held dYer until after Atarch 31st "* eftticFt^ swell the surplus, or because the Treasury is depleted. T4te»e-storie|> may not be true ; if^ihey are not then we pfuik. t^lwa.st the Governtnent oqh do:^n|lthe sfurplus is to come j y to thje^^lsistance of lieople wiio, 1 are being ' compelled to atmndon the homes they (grave . $,tftif(g}feed for years to establish. It is discredit^ able to the colony, that in a time of general prosperity there shpulcl bte even a* few settlers wjho, through no fault of tiheir own, but through the neg*lect of the Govern* ment wliioh placed them on the land with au u»'der.ta4ing to provide roads, are now in the position,, of toeing obliged to give up the Struggle; - because of the excessive cost of the necessaries of life, and the " ftnpossWU^y.. of obtainiff^ a fair return fo^tfieir produce, for want ot a road. If our prosperity is genuine, as w;e are sure it is, anid if the Qoiverniment has the means of which itbkxasts, then let this duty be attended to.