The Waikato Times AND THAMES VALLEY GAZETTE. SATURDAY, JUNE 28, 1890.

Waikato Times, Volume XXXIV, Issue 2802, 28 June 1890, Page 2

The Waikato Times AND THAMES VALLEY GAZETTE.

SATURDAY, JUNE 28, 1890.

Equal and ciact justice to all men, Ot whatsoever state or persuasion, religious or political.

The Financial Statement that has just been delivered in the House of Representatives is a clear and exhaustive account of the present condition of the colony. On no previous occasion have so many branches of the subject of Finance been discussed, nor have they boon dealt with in such detail. The Statement has the further merit of being couched in language, at once simple and unadorned and is equally free from any attempt at equivocation or ambiguity. It possesses still further interest in probably being the last statement that will be prepared by Sir Harry Atkinson. It was doubtless this thought that caused the Colonial Treasurer to enter so fully into the

present financial position of the colony.

The subject matter of the Statement is vory much what was anticipated, and what might have been expected in the last hours of an expiring Parliament. The Colonial Treasurer confines himself principally to the actions of tho past, and snys little on the course which should be pursued in the future. On the latter subject the electors will shortly have an opportunity of expressing an opinion. It is satisfactory to learn that there is a surplus on the year's work, and that the revenue is in excess of the expenditure; but we feel inclined to join issue with the Treasurer when he states that this is due no less to the steady improvement in the condition of the colony than to the large economies that have been effected by the Government. We believe the improved state of affairs is mainly due to people being thrown on their own resources, and the increased industry of the population has caused a corresponding increase in the productiveness of the country. Some economies have no doubt been effected by the Government, but as we have often before remarked, not to such an extent as the exigencies of the case required, or the wish of the people demantled.

The remarks made on lard settlement and the Land Fund are both instructive and interesting, and will well repay a careful persual. We cordially agree with the Treasurer that the permanent prosperity of the country rests on the effective occpuation of the lan.l. Land settlement is progressing steadily, it not as rapidly as could be desired. It is worthy of notice that of the three titles offered to selectors, an absolute sale of the freehold, deferred payment or perpetual lease, the latter tenure seems to find most favour with the public. We consider that the selectors are exercising a wise discretion in this matter. The former's eagerness to be a freeholder has vanished. By selecting the perpetual lease title, any capital, the intending farmer may have is left free to effect improvement and work the land. This is surely a better state of things, than an absolute purchase, and the inevitable mortgage, which was sure to follow.

The necessity of surveying Crown Lands, and opening up roads, in order to promote settlement, is also discussed. A scheme is propounded for obtaining the necessary money under the Government Loans to Local Bodies Act, and a rate being struck in the particular locality affected, to cover the amount required. On this .subject we are promised further details from the Minister of Lands. The whole subject is a most important one, and everything, in reason, that can be done to promote settlement, and develope the natural resources of the country should be accomplished as speedily as possible.

On the question of the Propertytax and Primage duty we say without hesitation that the country is not with the Colonial Treasurer. We are told that no relaxation can be made in these taxes because additional funds are required for school buildings and lunatic asylums. We do not doubt the need of these bnildings ; far from it. But we do say that the money that is lavished in Secondary and 'University education would be far more properly applied in the erection of public buildings that are absolutely needed. The proposals no doubt will bo warmly discussed and we should not be surprised to see a reduction made in the Education vote in order to relax in some degree the strain of taxation.

It was singular that a Statement that abounds in reflections on the past and conjectures at the future, a scarcely passing reference is made to the railways, although great prominence is given, and we believe rightly, to the settlement of the land. Surely our railways have some bearing upon this question. When we remember that millions of money have been borrowed for the construction of railways, with the one express object of promoting settlement, we cannot forbear expressing surprise at the ommission to which we have referred. It is true the Public Works Statement may deal with this matter, but the anomaly still exists, of propounding a scheme of settlement without any reference to our rail carriage. The other subjects dealt with by the Colonial Treasurer we cannot now discuss. We presume few people will dispute the position with him, that the depression in trade is caused by our public and private indebtedness. He tells us a number of pleasant things about our climate, our low death rate and our powers of production, for which, no doubt, an admiring country will feel grateful.

Taking the position as a whole there can be no question that the situation of the colony is encouraging. The increase in our exports, the development of industries and the steady application of the people to work, are sure indications of a better state of things. We agree with Sir Harry Atkinson, that the crucial test has been endured, and that we are entering on a more prosperous future. All that is required to further and establish this desirable consuruation to use his own words is "sober finance, extended settlement, increased industries, and a never failing confidence in our future," and to which we would add, still further retrenchment, and a diminution in taxation.