GOVERNMENT CREDIT.

Wellington Independent, Volume XVIII, Issue 1865, 7 May 1863, Page 3

GOVERNMENT CREDIT.

On Friday night Mr Borlase brought forward - a motion for the remittance of all monies due by immigrants on their promissory notes, and on Tuesday night he brought forward another proposing to sell the public lands on credit, Tbe presence uf both motions on the same notice paper was bad generalship on Mrßorlase's pari — scarcely any tbing else could have been more likely to have ensured their rejection, even if members had not previously been fully determined as to the course (hey intended to pursue. For two consecutive years bad the Council insisted on the collection of the Immigrants' Notes, and the only result which Mr Borlase could expect was that which came to puss— the Council reiterating the very positive expression of opinion which follows—* "That this Council is of opinion that the Government ought to take active and immediate iteps to collect the amount due on account of Immigrants" Promissory Noteß, now overdue." In carrying out tbis Resolution we are sure that the Government will afford tbe utmost indulgence as to time that tbey reasonably can ; but carry it out they are most certainly bouud to do, after ihis thrice repeated expression of opinion. We always prefer to let sleeping dogs lie, aod had we been in Mr Borlase's place we should have let the matter remain quiet, rather than bring forward a motion which, it required uo great discernment to foresee, was not likely to end iv any other way thau that to which it has* No doubt Mr Borlase endeavoured to act for the Immigrants' good, but as ali such intentions are seldom appreciated if the result be unfavorable, we can fancy Tony Lumpkins' ungrateful remark " I wish youwould only leave my good atone " will pretty tolerably express the general opinion of the Immigrants ou Mr Borlase's ill -limed proposition. 111-timed because there was his Tuesday's motion for selling land on credit staring everytody in the face, and it was erident that if the debts due to the Government were to be given up in the one case, they could not be enforced in the other. We hope the Governaaeut will never again become the peoples' creditor. A large portion of the public never look upon a debt due to a Government in the same light as they do a debt to a private individual. Many persons, who would knock you dowpifyou insinuated aught against their character for integrity, will boast tbat their whisky never paid Queen's duty, and regard all such evasions of the revenue with perfect complacency. Io a colony lite this, where the suffrage is almost universal, tbe debt by any class is an evil which produces so many others in its train, tbat it is to be hoped the Government wi'l never agaiu allow otfe to be contracted. So sure as land is sold by the Government to individuals on credit, so sure will tbe non-payment of the pur. chase money become a bone of political contention, and if the debtors are numerous enough, tbey will insist on the debt being canceiled. A case in point has just occurred at Otago. In 1856, land was agreed to be sold there Rt ten shillings au acre, the purchasers engaging to spend £2 additional in improvements within four years — of course the Crown Grants were withheld until tbe conditions had beeu complied with. As it was found exceedingly difficult to forfeit tbe unimproved lands and re-sell them, uu Act was passed in 1863, by which they were to be yearly taxed 2_ an acre, rather thau oblige the holders to forfeit all title. But this, so far from baing satisfactory, only made the credit-laud, holders more dis. satisfied— what they wauted was their Crown Grants, no matter whether the conditions had boen complied with or not. When the lato contest for the Superintendeucy came on, of course the new candidate thought it was a shame to call upon them to fulfil their conditions, and promised Crown Grants at once if tbey voted for him, wbich we mty not uncharitably suppose they did. Wherever it is advisable for the Government to benefit individuals in any way by the facilities of credit, it should always be done through the aid of associations -but the evils which tbe Frommissory Note system of Immigration has produced, and is still producing, must convince most people tbat tbe wisest tbing to do, is to resolve tbat tbe Government shall never again, in any shape whatever, make any class of the public its debtor.