Latest Telegrams.

Star (Christchurch), Issue 656, 30 June 1870, Page 2

Latest Telegrams.

Wellington, June 29, 9.25 a.m. 4rThe Financial Statement last night was received very coolly, there being frequent bursts of ridicule. At tbe conclusion of the statement, Mr Header "Wood condemned the Financial Policy of the Government as the wildest, most visionary, impractical, and impracticable scheme ever listened to. He wanted to divide the House on the concluding resolution. Mr Yogel twitted him with having spoken from a foregone conclusion. Mr T. B. Gillies, Superintendent of Auckland, heartily endorsed Mr Wood's remarks as to the policy being the wildest and moßt extravagant scheme ever brought before the House or Colony. If it were carried, every sensible man would quit the country as soon as the fictitious prosperity, induced by reckleas expenditure, enabled property to be advantageously sold. He objected strongly to adopting the resolution in favour of protective duties. Mr Stafford and Mr Fitzherbert, without any expression of opinion on the general scheme, urged that the Committee was bound in honour to adopt the resolution, as the Treasurer had disclosed the item? on which the duty was to be altered. Mr Yogel had said he would not do so if the Committee objected to authorise the temporary collection of the new duties, and the Committee had not dissented. Mr Fitzherbert give Mr Yogel credit for a candid statement. Mr Fox promised that no Government business would be pressed until the financial policy had been fully discussed, and an opportunity afforded for discussing every item in the. - proposed tariff alterations. Mr Wood withdrew his immediate opposition, saying, in reply to Mr Yogel, that he had come with every predisposition to support the Government, but was sorry to say he now found it impossible to do so.

&15 jp-in. v Mr Macandrew brought in : % bill to amend the Otago Hundreds Act. He also obtained a select committee to consider the question of fixing by law a uniform railway gauge for the colony. The debate on the financial policy commences to-morrow.