THE COLONY'S DEBT.

Taranaki Herald, Volume LIV, Issue 13487, 30 July 1907, Page 5

THE COLONY'S DEBT.

MONEY FQf&RAILWAYS WANTED. -. ... („ •* »-

THE PREMIER DECLINES. \ ,

Per Press Association.

WEiLINGTdN, 1 Jury 29/

A deputation, representing the Buller and Nelson districts, waited on the Premier to-day to urge the extension of the Westport-JJeefton' railway, and .authorisation ,of a section betwjßen.Tftdmore and Reef ton, as well as v authorisation- of, the iremainiQgio^ioasiofe'tne Westport-Inangahua line. .The-depui§-tion particularly referred to the enormous ,mineral and, timber resources of the districts concerned* . ,-. The-' Ptemier", "in replying, said that the Government'^buld^^ry, on railway construction only, t to^ the amount of money '&i^iis disposal* During the previous year IJh'eJ 'debt of the colony had ' 1 by £1,988,000,, and.p^ti)9%fpvp £1,345,749 had been spent in -conaection with the" railways. cqul<c£ not be increased. ;Qti the Contrary; the total attou^t^oujtct 'be rather less. . It had to be remembered, moreover, tba,t. during the year the Government Would be called upbn to make provision forj £3,300,000 of freah iridney— £BoJO,OOp in redemption ; of loans, £1,500,000 in ordinary conversions^ and £1,000,000 as a fresh loan. •'Th'e^first consideration of' the Government •must be to keep the colony's financial position sound and healthy, and it^ was not intended , to. make any, new f<m f fail-.s. ways. The colony^was carrying on a very vigorous policy of railway construction. The fact was sometimes overlooked that more was being spent year by year over successive years than had i>een proposed under the progressive policy initiated by Sir Julius Yogel. The. completion of the North Island Trunk Line was the most 'important work in hand, and that line would absorb some £400,000 during the coming year. While the Government was anxious to recognise the promises made by its predecessors, it had to deal with circumstances as they existed at present. Old promises were coming to light every day in regard to various matters, and those promises made, or represented to have been made, in past days could not be allowed to override the exigencies' of the day. The Government would carefully consider all matters that had been laid before it.

A similar reply was given to another deputation that urged the extension of the Culverden line to Waiau.