THE FINANCIAL STATEMENT.

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

THE FINANCIAL STATEMENT.

In last issue we were unable to epitomise the remainder of the financial Statement, which proves to bo one of the longest and probably is the most thorough and exhaustive Statement that has ever been presented to the House. The Colonial Treasurer dealt freely with the questions of Land Settlement, Lnans, public and private indebtedness, producing a wonderful array of figures in dealing with the various subject matters. His concluding remarks are of especial interest;, aud are as follows :— In conclusion, Mr Hamlin, I will say that I have endeavoured—and, I hope, not unsuccessfully—to place before the committee a true picture of the financial and true concondition of the colony. I claim to have shown that our finance is well under control, and that although we have borrowed largely outside the colony, we have, not of course in every case, but on the whole, publicly and privately invested our borrowed money so as to produce satisfactory results, as witness the material advantages enjoyed by the population generally, and the very largo aud increasing amount of our exported products, which for the last year were valued at £9,042,008, or at the rate of £14 14s 7d for every European, man, women and child in the colony. I have shown that the so-called exodus of our population is no exodus at all in the sense in which the word has been used, and that the reduction of public expenditure would account for a much larger number than have gone—the real cause of the apparent exodus being the decrease of immigration,' which no doubt is largely due to our unfortunate habit of self-depreciation existing at Home. I repeat that the number of people leaving our shores during the year 18S8 was, in round numbers, only one-third of the number of those who left Victoria, the numbers being as follows : —ln the Australian colonies during the year : New South Wales, 43,081; Victoria, 60,229 ; South Australia, 12,750; Queensland, 23,159; and Tasmania, 17,930. In New Zealand it was 22,781. The problem, therefore, for our solution is no so much how to keep our settlers, but to induce others to come. I have shown the large increase since 187(5 in actual and proportionate number to the male adults of the agricultural holdings ; I have shown that our Crown lands are being settled in small areas at the rate of 450,000 acres a yeir ; 1 have shown that the stagnation in our trade arises partly from the contraction of expeuditure in consequence of the cessation of outside borrowing, and that it will no doubt disappear as soon as by reason of the great and increasing productiveness of our industries our trade has assumed its normal condition; I have shown that our population as a whole is well and profitably employed ; it is clear, therefore, that no herioc policy is required to set us right. All we require is a steady pursuit of our present policy of careful economy in administration, a steady refusal to again resort to borrowing, and a determination to get our waste lands settled as_ rapidly and as well as possible, by offering every facility to those now among us who, dissatisfied with their prospects in their present employment, are capable and desirous of settling on the land, and by inducing immigration of a desirable class of persons to supplement those already here. In a few last words I would say that sober finance, extended settlement, increased industries—these, with never-fail-ing confidence in our future, will carry us on, and leave this land as a noble in,i lieritauqe to our children.