The Waikato Argus GEORGE EDGECUMBE, Proprietor. WEDNESDAY, MAY 16, 1900.

Waikato Argus, Volume VIII, Issue 651, 16 May 1900, Page 2

The Waikato Argus GEORGE EDGECUMBE, Proprietor. WEDNESDAY, MAY 16, 1900.

In a speech delivered by the Hon. Mr Ward at a “ social ” hold at Masterton last week, he took the opportunity to give a forecast of the policy of the Government in the immediate future. It is gratifying to learn that the country, owing to' increase of settlement and the flourishing condition of commerce, which has prevailed during the past few years, is in a position (o adopt a sound railway policy, which is to use the railways as a means of developing the country, and not to a large extent negativing their usefulness by the attempt to make them yield a given per centage on their cost. It was on the understanding that this system would be pursued that Parliament sanctioned Sir Juluis Vogel’s borrowing scheme. It> was also understood that simultaneously with the borrowing of the money a substantial land tax would be imposed as a check to speculation and to secure to the country, what Sir G. Grey termed, the unearned increment. Neither of these principles has been pursued and it is very largely due to the fact, that the financial position of the colony and the exigencies of party Government have delayed a sound railway scheme till the last year of the century. New Zealand is one of the richest countries in the world; it is rich in mineral resources and its soil and climate leave little to be desired. Her one natural drawback to successful competition in the great markets of the world is her position on the globe. She is the most distant country from the great markets of the world. To use the words of Mr Ward, “It is necessary for this country to annihilate distance and to place the people in as good a position as those in the neighbouring colonies with regard to the London Markets.” Reduction in railway freights is the first step in this direction.