Wanganui herald. (PUBLISHED DAILY). SATURDAY, AUGUST 21, 1850. LOANS FOR RAILWAYS.

Wanganui Herald, Volume XIV, Issue 3926, 21 August 1880, Page 2

Wanganui herald. (PUBLISHED DAILY). SATURDAY, AUGUST 21, 1850. LOANS FOR RAILWAYS.

In his Public Works Statement Mr Oliver said : — "The votes for the various works which "we iioav propose are designed to provide for the expenditure up to the 30th June, 1881. After that date, and until Aye are again in a position to become borrowers, the only sources whence we can draw supplies for these purposes will be a portion of the proceeds of land sales, and the saving from the estimates for the purchase of Native land, a saving which Aye have reason, to believe may be considerable, but which at present it is impossible to estimate." As we are precluded from entering the London money market again as borroAvers for a period of three years, we shall have to do without borrowed money for the two years succeeding the current one. According to Mr Oliver's statement, the sum left out of the last loan after the present year's appropriations will be something under .£150,000, and Avith this and our oavii resources we shall have to tide over the years 188182 and 1882-83. Not until 1883, therefore, can the question of raising a I neAV loan arise, and this is a fortunate circumstance, inasmuch as it gives us time to reflect and to re-consider our position. Sir George Grey and Mr MacandreAv gave expression to a feeling Avhich is predominant at present in the minds of a great many, when they deN nounced the curtailment of the public works expenditure. "We feel the change for two reasons, first, on account of the existing depression, and, secondly, because the sudden stoppage leaves us somewhat in the position of men avlio t have been indulging rather freely in stimulants, but whose supply of alcohol has been promptly and permptorily cut off. The first of these causes will, it is to be hoped, soon cease to operate, and as to the second — three years should be sufficient to deaden the inordinate craving for the stimulus supplied by borrowing, so that in the year 1883 Aye shall be capable of judging coolly in the matter. In the meantime it behoves us to look back on the history of the decade which has elapsed since the borrowing policy began, In 1870 it Avas considered that £200,000 a year would be a sufficiently large expenditure of borrowed money for this Colony to venture upon, but how stands the case in 1880? Including the appropriations for the current year, the sum expended in railway construction

since 1870 is, in round numbers, £9,250,000 — a large advance on the original estimate of £2,000,000. It is quite clear, therefore, that Aye have been like a man "who drops in for a glass Avith a friend — only one or at the most tvro — but finds his resolution to besnoderate evaporate in the fumes of the liquor, until the two glasses become ten. Then there was to have been a system in our railway schemes, a trunk line to begin Avith, a section ofit completed yearly, and no branches attempted until this trunk Avas finished. Everyone knoAvs lioav this plan has been carried out, or rather, lioav systematically it has been departed from. The whole thing has been an unseemly scramble among the various districts, especially in the Middle Island Avherc Canterbury and Otago, on the strength of their colonialised land revenue, claimed and got the lion's share in the shape of "feeders." It Avill be for the constituencies, therefore, to decide whether Aye are to go on borrowing or to live within our income for the future. The temporary stoppage of immigration will doubtless diminish the land sales, but in the course of three years this source of revenue may have so far recovered its elasticity as to cause the necessity for borroAving to be comparatively little felt. And the circumstances of the tAvo islands as regards land fund are every clay approaching to something like equality ; for if the North has its lands locked up in the hands of natives, the South has its estate alienated altogether, that is the more valuable portion of it. That great cause of jealousy, the apportionment of the land fund, is therefore in a fair way of extinction, and this Avill be an important step toAvards the settlement of ; the borroAving question. By the end of the three years the back country in the other island ihay be a not more productive source of revenue than the CroAvn lands of the North.

An Auckland Press Association telegram states that Colonel Kenny, M.L.C., died at his residence at Ponaonby yesterday morning Avithout premonition. While dressing he Avas seized with a fit of apoplexy, and fell heavily to the floor, striking his head against the bed, and inflicting a severe gash. He died almost instantly. He Avas at All Saint's Church on Sunday, and got up yesterday in his usual health and spirits. The deceased gentleman was over 70 years of age, and is stated to be the oldest member of the Legislative Council, have been appointed on 26th March, 1853. In 1847, Avhen a major in the Imperial Army, he came to Auckland in charge of one of the four grantees of military settlers sent out by the Home Government. Colonel Kenny Avas very attentive to his legislative duties until the end of the session of 1878, Avhen his increasing age and infirmities prevented him from coming to Wellington, and he Avas granted leave of absence. The deceased gentleman leaves two sons and daughters, one of the former being District Judge of Napier. We clip from the Wellington Chronicle the f olloAving particulars of the Willis assault case, reference to which was made in our telegraphic column on the 18th instant, to the effect that a petition had been presented to the Government for Mr Willis's release : "At the R.M. Court to-day Mr H. A. Willis, a respectably-dressed man, by profession a schoolmaster, was charged on the information of a Mr Gibbs Walker Jordan, Avith violently assaulting him Avith a stick. The evidence Avent to show that Mr Willis had been put to considerable annoyance through Jordan having frequently used offensive language to him, having spoken of him in an uncomplimentary manner behind his back, and principally through his having written a letter to the Education Board, in which he denounced him in strong language, and containing wrongful allegations respecting his privato character. This line of conduct so irritated Mr Willis that he, upon meeting Jordan on the Hutt road one night, threshed him Avith his walking stick. His Worship thought that Mr Willis had no right to take the law into his own hands, and sentenced him to two months' imprisonment." A correspondent of the Southland Times S ayg :—ln: — In the difficulties in the Avay of trade caused by the scarcity of current coin of the realm which prevails amongst us just now, we have struck out a new path for ourselves, for we are a go-a-head people, and we are not to be kept doAvn by the Avant of "filthy lucre. " We do business now in rabbit skins instead of cash, and prices on our local Change may be quoted somewhat as follows : " Oats are dull at nine or ten skins per bushel. Fresh butter finds a ready market at nine or ten skins per Ib. Stocks of tobacco are very low ; a few small parcels have been placed lately at three skins per plug, while whisky is eagerly inquired for at a similar price per nip, with a tendency to rise ; an offer to take all on the market at this price has been declined. " If Aye can only induce the Legislature to proclaim rabbit skins a legal tender, we shall make our fortunes rapidly. A Melbourne telegram, under date August 11th, says: — f 'Ned Kelly was brought up before Mr Forster, Magistrate at Beechworth, on Friday, charged Avith the murder of Constables Lenegan and Scanlan, at Stringybark Creek, on October the 18th, and with outlaAvry. Mr Chamley Guarven represented the CroAvn and Mr Gaunson defended the prisoner. Captain Standish and Superintendent Sadlier Avere present, and a large number of ladies. Kelly is still lame, and Avas carried into the dock and allowed to rest. Mr Forster refused Gaunson's application for a remand. First Constable Mclntyre narrated the expidition which terminated with the murder. While waiting, the remainder of the party of bushrangers conversed freely Avith him. Kelly said he did not intend to shoot the others if they surrendered, but he expressed deadly hatred towards Fitzpatrick, Flood, Steele, and Stranton. On Saturday the case was resumed, and the Court was croAvded, many ladies being present. Mrs Skillion, Tom Lloyd, and Dick Hart Avere also in Court. Mclntyre's examination Avas finished. Dr Reynolds Avas examined regarding the death of the murdered men. On Monday and Tuesday Steven Groom, Leister Hawker, his assistant, and several others, all of whom Avere stuck up at Younghusband's station, Avere examined. Conclusive evidence Avas given that Kelly had frequently admitted shooting the constables Avith his own hand. He was formally committed yesterday on a charge of shooting Lonegan. A number of people iioav recognise Kelly Avhom they have seen frequently during the last two years on racecourses and at hotel bars. It is stated that he actually visited Melbourne last July, and slept at an hotel in Bourke-street, where he conversed about the Kellys, " The Wellington Chronicle, in commenting on the public works policy of the present Government, says; — "As the amount set apart for native land purchases by the previous Ministry is about a million and a quarter, and as the present Government evidently do not intend to continue that kind of expenditure any further, the money must be available for public Avorks. There is in addition to this amount, £800,000 worth of Imperially gua.ra.nted debentures. How the Government intend to deal Avith all this money it is rather difficult to say, but we have not the slightest doubt that Ministers themselves know all about the matter, and have certain intentions in regard to its appropriation which Avill come to light some day. Beyond the vague statement as to the importance of spreading the expenditure over the next two years, the public know nothing as to the intentions of Government." The Taranaki Herald commenting on the prospectus iasued by the Wanganui Harbor Board says that j.t has been well drawn up, not a point likely to tell being omitted. The proposed reduction of 10 per cent on Civil Service Salaries will not apply to pensions. We (Manawatu Times) have been shown some very excellent white leather wbjeh has

been manufactured at Mr Hammond's fellmongcry at York Farm. Hitherto after the wool has been taken off the sheep, the pelt has been thrown .way as useless, but iioav under the skilful manipulation of Mr Carlt[uist each skin is made Avorth.half n crown, and by his oavu labor alone fully three hundred each week can be made ready for market. The industry is at present only in its infancy, but so well pleased ia Mr Hammond at the result, that we understand he is going to enter largely into it, and operate upon the skins of calves and large cattle. We Avish the venture every success." Mr E. G. Wright has been hitting out north and south recently. A few days .ago he incensed the Wellington people by declaring that their proposed line to Foxton would run through a sandy desert in Avhich Otaki formed the only oasis. And in replying to Mr Pyke Avho had made some Aery disparaging remarks on the report of the Railway Commission, of Avhich Mr Wright Avas a member, the latter gentleman said that Avhen the Commissioner > Avere in Vincent County there Avas a theatrical troupe there also, and Mr Pykc Avas starring through the County Avith the prima dorma — too much engaged to have any time to attend to Avhat the Commissioners Avere doing. The GreytoAvn correspondent ef the ManaAvatu Times says :—": — " To prove the state of the market in the Valley, I regret to report that the Empire Hotel at Fcatherston — a really splendid building, built and furnished at a cost of about £4000 — Avas sold on Thursday last for £1550, or at a loss of £2450, This Hotel stands AvithintAvo chains, and just at the back, of the Railway Station." Murray CoAvell Kavern arrived here to-day from Melbourne, in charge of Constable Coyle, of Marton. He Avill be brought up at Marton on Tuesday next on at least tAvo charges of forging cheques. The Yeoman, the largest and best family ncAvspaper on the Coast, -will be on sale at the local booksellers this evening. Archdeacon Thorpe avill preach at Christ Church to-morroAV, morning and evening.