LEGISLATIVE COUNCIL.—Tuesday.

Waikato Times, Volume VII, Issue 339, 16 July 1874, Page 2

LEGISLATIVE COUNClL.— Tuesday.

Mr Waterhouse, in moving the motion standing in his name, regarding the increase of the indebtedness of the, colony, was very moderate in his language: He'"saitl that when four years ago the public works policy was initiated, Mr Yogel said tha,t eight and a-half, millions were to be spent in over ten yerirg, ot including immigration, nine and a-half millions, which, however, was to be reduced by the sale of three and a-half millions of acres ; but in seven years only they had authorised the expenditure of £9,816,000, and there was only about one thousand miles of railway to shew for it. This s im would make the total ind'obteeness of the colony over seventeen millions. The question was -whether any increase to this would nob make too heavy taxation necessary. Still there was nothing alarming at present, only more caution was requested. We were apt at the present moment to under-esti-mate the weight on our shoulders, and this feeling was attributable to three causes : — First, the unprecedented prosperity prevailing. Second, the full burden of the interest was not felt, in consequence of the interest being deferred till the lines are completed. Thirdly, we are not paying the full burden imposed upon the colony. In consequence of the native troubles there would be a large expenditure. Yet, in connection with the native question, he advocated this being borne out of the public revenue. As for the railways that were going on, he thought they would repay the interest and develop industries; but to plunge too recklessly into them would render taxation on industrial resources necessary, and defeat its own object. They had increased the indebtedness as far as consistent with sound prudence. Dr Pollen said that if he were to follow Mr Waterliouse through his argument he would be obliged to disclose the financial policy of the Government, Avhich Avould be more properly done in the other House in a day or two. He moved the previous question — Kenny opposed, Campbell supported. The previous question was put and carried. On the motion of Major Richmond, a call of the Council was made for the 30th July.