THE Thames Advertiser. WEDNESDAY, SEPT. 2, 1874

Thames Advertiser, Volume VII, Issue 1847, 2 September 1874, Page 2

THE Thames Advertiser. WEDNESDAY, SEPT. 2, 1874

' The Economist' of 23rd May publishes an exhaustive and instructive article upon the financial affairs of the Canadian Confederation, It is headed "The danger of hasty expenditure on Public Works," and is well worthy of perusal. It reviews the Budget Speech of Mr Cartwright, the new Finance Minister,and the lesson it teaches may with advantage be applied to the colony of New Zealand. The article exposes the danger of entertaining extravagant aud illusory ideas on the nature of reproductive works, and 'exhibits a state'of financial difficulty which is likely to be reproduced, and with which the Parliament of this country will have to contend. Receipts and expenditure are given from 1868 to 1873 part

estimate for 1874, and estimate for 1873. The surplus revenue gradually increased from £40,000 in 1868 to £328,000 in 1873, but in the following year there appears a deficit of £472,000, while that of 1875 is estimated at £550,000. These figures afford ample means for reflection and comparison. It is unhesitatingly affirmed that the large expenditure upon works to which the Canadiau Government, were committed is the sole cause for this great change in the financial condition of the country, and it has so largely increased the direct charge for debt interest that nothing but the most oppressive taxation will furnish the additional revenue required by the Treasury. The receipts and expenditure under the Public Works Department are also given for the same years. The surplus in 1868 was £30,000, which in 1870 was reduced to £13,000, but in 1871 the deficit is £91,000, which increases to

£296,000 in 1873, while the estimated deficit in 1875 amounts to £798,000, " with every prospect of a still more serious deficit in future unless the past policy is reversed, and great care is otherwise taken." There lines of railway run through a long-settled and populous country, offering advantages to works of this character which this colony cannot possess for years to come, and yet " they are worse than unproductive," and maintained at a ruinous cost to the State.

If these, then, are the results from the Public Works scheme of Canada, how will it fare with New Zealand when Mr Yogel's policy of constructing railways from borrowed millions is accomplished ? A combination of interests more or less selfish carried the Public Works and Immigration Act through the Parliament, but the future of the colony was never considered, unless the mythical results predicted by the Premier be accepted as such. The scheme was acceptable to the provinces becase it promised them a large expenditure and a temporary, though fictitious, prosperity. Superintendents and members pressed their claims upon the consideration of the House with the desperate energy of gamblers, until the game was played out and the bank was broken. Political parties commanded political railways without a thought of profit or loss. Private individuals joined in the cry for reproductive public works with an eye to compensation, and with a determination, to drive the hardest bargain for property, which suddenly acquired a fifty-fold value through the passing of the Act.and the. recognition of their provincial lines. The public, carried away by the storm, cast aside reflection and judgment, and swelled the clamour for railways until it became a mania in the land, and thus the scheme for a season will be popular, because it gratifies the selfishness and panders to the cupidity of human nature. But the time will come, and probably is not far distant, when we shall reap the whirlwind from the storm which has been sown; the large indebtedness of the country will, be felt in the disagreeable and almost, unsupportable ijaxation it will be necessary to levy to meet the direct charge for debt interest. And the whole land revenue of the colony must assuredly be impounded to save the public credit. In writing thus we do not indulge in a dream. Already we have reaped the first fruits of these pressing demands. Like the Canadian Government, Which levied additional customs duties to 'the tune of £530,000, Mr Vogel, ,by altering the form of the tariff, under the plea of not increasing the revenue, succeeded in adding nearly a quarter of a million to our already enormous taxation. When all the projected works are completed the'flourishing colony will possess a national debt . which, taken on the basis of population, will be three times greater than the national debt of the United Kingdom.

It is by no means a difficult task to prove from the hon. Mr .Richardson's Public Works Statement that' the railway scheme up to the present time is neither satisfactory nor reproductive. The aggregate length of, the accredited lines is 1,010 miles, the appropriation ,£5,575,400. 'Of this large sum £3,660,881 have been expended,, with the following resultsß9 miles of rail open for traffic; 57 complete, ready for traffic; 103 plate-laying going on ;• 421 under contract. As the statement gives no table of profits from the traffic on the 89 miles of complete railway, we may fairly conclude they do not pay working expenses. The only length of line worked by the Colonial Government is the Onehunga,, the gross receipts for seven months being £4,834 9s 3d; but of the cost of working we know nothing, as upon this subject the Hon. Mr Richardson is profoundly reticent. It must also be understood the above appropriation does not include the cost of rolling stock, which in itself is a serious item. The financial statement of r the Canadian Minister is remarkably clear and explicit, and is in singular contrast to the hazy document furnished by the Minister of Public Works for the information of the colonists of New Zealand. :

yMBQgW) ri 'iti d i .'uiji The Government p.s. 'Luna,' Captain Fairchild, left Wellington at 11.30 a.m. on Sunday, and after calling at Taranaki came on to Manukau, crossing the bar at 10.30 p.m. on Monday, and reaching Onehunga wharf about •midnight. The following were the passengers for ManukauHi3 Honor the Superintendent of Auckland, Hon. Mr James Williamson, Hon. Mr Chamberlain, Hon. Mr Taylor, Mr Sheehan, M.H.R., Mr May, M H.R., Mr Kelly, M.H.R., Mr Swanson, M.H.R, Mr Munro, M.H.R., Major Jackson, M.H R., Mr G. M. O'Rorke, M.H.R., and family; Mr W. A. Murray, M.H.R. for Bruce; Mr Thos Russeil, Mr Rose (Inspector of Post Offices), Mr W. Mitchell, Mr W. Berry, Mr H. H, Stevenson, Miss Green, Miss Pollen.

By advertisement elsewhere it will be seen that the time-table of {the p.s. ' Hauraki' his been altered. She does not proceed to Auckland this morning, as previously advertised, but will leave to-morrow morning at 10 o'clock. It appears that the Coromandel agent of the steamer had entered into arringeraents for trips to that place without acquainting the Thames agent, hence the nece : sity for a slight alteration in the published time-table.

The late Mr James McCafferty, whose obituary notice appears elsewhere, was_ well known and respected by a large circle of friends at the Thames. Prior to his arrival, a little more than three years ago, Mr McCafferty served for several years in the Auckland Police Force, in which he held the rank of sergeant. When the police of the province were transferred to General Government control as an Armed Constabulary Force Mr McCafferty rttained his rank and was soon after sent to the Thames, where he served as sergeant for some time under SubInspector Bullen. His health failing him, he was compelled to resign his appointment, and he entered into business as a storekeeper, in which he pushed a brisk trade for some time. But his illness settled into a br peless decline, and he wa* obliged to relinquish his business. For some time he carried on the duties of letter carrier, but this lie was also obliged to discontinue, and for the last three or four months he was a helpless invalid. Mr McCafferty leaves a wife and a young family to mourn their loss, and we are quite sure they will Have the hearty sympathy of numerous friends. Deceased was a member of the Thames branch of the Hibernian Australasian Catholic Benefit Society. His funeral will take place at a-quarter to 1 o'clock to-day, that hour being- chosen in order that miners who have to go on the afternoon shift may be able to pay a last tribute of respect to the deceased by following his remains to the cemetery.

The patrons of the forthcoming bazaar in aid of the building fund of St. George's Church •will have an opportunity this morning of purchasing a stock of very suitable fancy goods, albums, toys, papier mache articles, sewing machines, &c, at Mr Dowden's auction mart.

The Baptists of the Thames will hold a social re union in the church this evening with a view of increasing the Minister's Residence Fund.

We hear that the new rifle range will be ready next week, when the patrons of rifle shooting will have an excellent opportunity of displaying their generosity by giving a set of prizes to be fired for on the opening day. We require something to awaken the dormant spirit which the closing of the Tararu and Parawai ranges for so long a time has caused in shooting circles. If something is not done shortly we are afraid we shall be a, long way behind our Southern competitors at the next colonial prize firing. We would suggest that a grand parade of the Volunteers be called for the Saturday following the completion of the work, and that the range be opened with full military honours. The patronage of the Mayor and the members of tbe Borough Council might he solicited to give further eclat to the opening ceremony. Some of our shooting friends might offer further suggestions towards enlivening thi proceedings when the range is opened.

A Government Gazette of the 27th ultimo contains a statement showing the number, amount, &c., of money order and savings bank transactions, in the postal districts of the colony for the quarter ended June 30. For the Thames the number of money orders issued was 482, for £1,943, and the number paid 436, for £1.701. There were 107 accounts opened and 73 closed at the Thames during the quarter. The number of deposits was 521, and withdrawals 337. The amount of deposits was £5,602, and withdrawals £7,074; leaving an excess of .withdrawals over deposits of £1,472. In Auckland the amount of deposits was £18,880, and the withdrawals £18,333.

A soiree in connection with the Loyal Waikato Lodge 1.0.0. P. will be held in the Academy of Music this evening, at whicli iddres>:es will be given, interspersed with glees, by members of this and other friendly societies, the proceedings terminating with a hall.

We perceive that the Auckland and Thames Mining Associations are about to undertake the publication of a Ptock and Share List to the present date—a work much wanted for reference for some time past. Secretaries of companies and others are invited to furnish the Thames Association with the necessary information concerning their respective companies.

For some time past journalistic amenities at the Thames have happily been undisturbed, although this has been due more to our forbearance than to want of discretion on the part of our evening contemporary, which has at various times snapped and snarled like a little cur at its "esteemed morning contemporary," The latest specimen of the kind, inserted without sense or reason, is the following which appears in Monday evening's impression:— 1 "Our esteemed morning contemporary says the Luna, with the Northern portion of the English mail, may be expected in the Manukau this evening, and that the Thames portion will no doubt arrive by to-morrow's steamer. With all due deference to the superior knowledge of our contemporary, we must say this is calculated to mislead The ' Luna' is not likely to arrive till Tuesday, and therefore there is no probability of the Tlnme3 portion of the mail arriving here before Wednesday." The Colonial Government steamer 'Luna' arrived in the Manukau at 11 p.m. on Monday, having left at the hour named in our Mondiy's issue, with the Suez mails for the north, transhipped ox 'Albion,' The Thames portion of the mail was brought down yesterday per 'Golden Crown.' The 'Luna' left the Manukau again for the South early yesterday morning. The annual meeting of the Thames Cricket Club was held at the Governor Bowen Hotel last night, Mr Steadman in the chair, and was numerously attended, which speaks well for the success of cricket during the ensuing season. Captain Eraser was again elected president, Mr J. Cook vice-president, and Mr Carrick secretary. The secretary's report showed a balance in hand for the past year, which has hitherto been unknown in the club. The following gentlemen were elected as a - managing committee: —Messrs Robinson, Whitford, Gellion, Lankham, and Bull. The rules of the South Melbourne 0 C. were adopted •with slight alterations, We think that we may safely say that in the event of an Australian team visiting this province that the Thames will be fairly represented. A vote of thanks was accorded to the chairman, and the meeting ; terminated, "Tommy Brig" writes:—To the Editor: Sir,—Would, you be kind enough to send a letter to my dear old friend Polly Plum: — " Dear Polly,—When thou first comed down ta Thames; aiithout thou wert the best woman in New Zeuland; thou didst talk so uice about learning ta childer ta read and write a bit; ah thought thou hadst got a yooi bottom an a sound principle; but, my dear Polly, thou ast proved thyself a duller; ahm sorry for it, for thy own sake. But do just tak a bit of advise from Tommy—look down at thy too 3 now and then, and dunna be so proud. Dunna forget Polly, my la"?s, that thou art a woman, with a woman's face, am a woman's friends; thou ast got plenty of learning;—but di teach the childer before thou trys to teach the men; dunna try to mak a man of thyself, Polly. Ah shall always be glad to h*ar hou thou art getting on; but do my law try to be a bit like thy motto.", ,

Mr E. Honiss, Secretary to the Thames Hospita], bpgs to acknowledge tbe receipt of the following donation l ) and subscriptions:—Workmen of the Bendigo Independent Gold Mining 50s; workmen of the Moanataiari Gold Mining Company, 725; J. McKeggie, 20s; H. H. Wright, sa; workmen of the Thames River Steam Saw Mill, £5 18a 6d; per Rev, T. Lonergan, sa; workmen of the Queen of Feauty Gold Mining Company, 903; R. McDonald, £5; J. Lyraburn, ss; workmen of the Bright Smile Gold Mining Company, £12 19d j workmen of the Tramway battery, 38s; workmen of the Imperial Crown battery, 27s 6d.; J. J. Rowe, 20s; Hev. J, Crump, 20s; workmen (Jua Gold Mining Company, ss; Burnetii ancl Levy, 203 ; M. Landers, 20s; workmen Ruby Gold Mining Company, 60s; J. W. Shaw, 10s; J. H. Jefferson, 20s; Bakers' Assoc'ation, 40s; workmen Alburnia Gold Mining Company, 935; J. Rodewald, 20s; J, Wilson, 20s; workmen United Pumping Association, per Mr Box, 17s —do, per Mr Erringtoa, 21s; domtion box at Courthouse, PhorHand, ss; E. Burra, 10s; per Rev. J. Davis, ss.

A General Government Qazette dated the 27th ultimo, to hand per'Luna,'contains the general rules of the Native Lands Court made by the Judges and Assessors of the Court under the 17th section of the Native Land Act, 1873; notification of the laying off for public purposes a curved road from tbe Kawakawa coal mines (Bay of Islands) to the Kawakawa river, &c. AMr Allen, of Coromandel, recently withdrew his advertisement from the News of that place, and the consequence was that Von Vturmer, the editor, began to invent all kinds of blackguard stories about the hotel. One of the servant girls writes as follows to the Qoro-

mandclMail "Sir,—As Mr Von Sturmer has thought fit to cast a refle;tion on my own and Mow-servant's character, accusing us of p'aying cards on Sunday last (which is a malicious falsehood), I hope you will insert those few lines in our defence. He would do well to pay the poor servant girl Lydia her hard-earned wages, which he robbed her of when going through the Bankruptcy Court, before he tries to take the charac'.er away from poor, but honest, servant girls. It is a good job for him

that I have no protector at Coromandel, or I would pity the contemptible sneak,—Yours, ifee. Ahnib O Connor, Albion Hotel.''

Mr J. Reid Mackenzie, of Dunedin, in his share report for the week ending August 15, says The sharemarket is moderately active, with an entire absence of what may be termed purely speculative purchasers. The transfers made during the week are chiefly for investment, existing low quotations tempting bargains, upon which, when an easier state of the money market prevails, as will be the case ero long, handsome profits.will be realised (if they are so disposed) by those fortunate purchasers who are independent of either native or foreign banks. National and South British Insurance Cimpaniesare exceptionably firm. Standards, notwithstanding what may be termed a satisfactory result for the first half-year of its career! are exceptionably heavy, and have suffered a decline of 6d to Is per share

Shipping Company are flat at 21s on 40a paid up. National Bank, in expectation of a favourable balance-sheet, have advanced 3s within the last few days, being now £313s upon £3 10s paid up Colonial Banks have been dealt in at 2s to 3s discount; indeed, in one instance, at 5s discount, by an allotted who got more shares than he reckoned upon. This is to regrette 1. Had the promoters extended applications to the other colonies, instead of continiog them to New Zealand, as many shrewd business men

think they should have done, doubtless considerably more than the entire number of shares would have been applied for, aud, instead of being at a discount, they would have commanded a good premium, as there can be little question the institution will start under exceedingly favourable circumstances. Perhaps it is not too late to remedy what may be regarded as a mistake. In the report for the week ending August 22 we read;— Colonial Banks are firmer, having been done at 2s 6d discount up to par, and they may be expected, when the weak holders are weeded out, to improve still further, especially if the suggestion thrown out of putting the unapplied-for shares upon the London and Australim markets is carried out. Sales

—National Insurance, 30s to 31s; South British, 52a; National Bank, 71s; Colonial Bank, 12s 6il to par.

The following is the mine manager's report presented at the annual meeting of slnrehoMers of the Caledonian G. M. 0. held in Auckland on Monday-.—"Gentleman,—ln submitting my report of this company's operations during the .last twelve months I have the honour to inform you that the quantity o£ quartz crushed has been about 4,821 tons for a yield of 4,476 ozs._ 7dwts. gold. In July, 1873, the mine having been effectually cleared of 'carbonic acid gas,' preparations were at once made for sinking the engine shaft a further depth of 90 feet. Having reached this depth a chamber was formed and a cross-cut started westerly for the purpose of intersecting tlio No. 1 and 2 reefs. In consequence of a large influx of water our progress was slow at first, but siuce the water has been drained off by the United Pumping Association we liive been enabled to open up a large section of the mine. 'The No. 2 reef was struck and cut through at a point 60 feet from the shaft, showing a stro'ig body of stone, with well-defined walls, nine feet thick. A crushing of 20 tons showed only a trace of gold. The cross-cut was continued on

towards the Albion Compauy's boundary, and at a point 65 feet north-west of No. 2 reef a large body of stone was cut through. The principal feature in connexion with this reef, and which I believe is a portion of No 1, is the very distorted and broken-up appearance it presents. There are several veins of quartz rarjing from six to niue inches thick, with alternate bands of sandstone, the whole form-

ing a confused mass some 20 feet thick. There have been 20 tons crushed from this place, but the result was very poor. The No. 2 reef has been driven on north a distance of 180 feet, showing unmistakable sigas of having been subjected to some disturbing influence. I believe the eastern portion on which we are now working to be the most promising. Various triil crushinga have been made from these

workings, none of which have given more than a trace of gold. That portion of the ground east and south east of the engine-shaft being thoroughly drained, a cross-cut has been driven

in the direction indicated for the purpose of 1 striking any reefs that may exist in that direc- : tion, a distance o£ 128 feet from the shaft, without meeting with any quartz; and there yet remains 102 feet more to drive before reaching the Manukau boundary. Communication has been opened between the 270 and 360 feet levels through the No. 2 and 4 winzes, affording through ventilation, Gold has been traced down No. 4 winze for a distance of 50 feet, at ' and. near the point of junction of the No. 1 and 2 reefs. We are now stopiog in this place, ana hope to be able to trace down what is known as the Otago run, from which we obtained so much gold at a higher level. A prospecting cross-cut has been driven into the foot wall of No. 2 reef, at a point 90 feet north of the head of No 4 winze. There is a large block of ground in this direction unpvospeeted; and should the No. 1 reef have gone through the No 2, as many believe it has, this drive will be the means of finding it. What I consider a most important work has lately been undertaken, namely—to explore and prove that portion of the ground between No. 1 reef and north-wesWn boundary. A distance of 130 feet has to be driven, the cost to be borne between the Albion and this Company. Should wo bo fortnnate enough to discover anything payable there is p'enty of room in height and length before coming in contact with other eoinpinies' ground. The old workings have been well turned oyer, and have yielded quite up to my expectations, affording funds for more thoroughly developing the deeper portions of the mine. There is still a block of the old stopea to be re-worked; this ii now in hand, and I expect payable results. The directors and myself li ivc kept in view the necessity for a thorough development of the ground, hence the various prospecting works in hand, lam not without hopes that some of tlietc may yet leid ; to paying results, and a season of prosperity ' again dawn on | us,—l am, &c,, S. & \ IUCUARDSi