8.—2

28

Colony, and with which the most powerful houses in England did not care to contend, has yielded to Colonial courage and determination. Everywhere property has risen in value, and yet is eagerly sought after. In the midst of so much that is flourishing, I have urged caution. I have asked that the Colony should confine its efforts to the charge of the great arterial means of communication, leaving to the Provincial Governments the control of the local works, the need of which they are best able to understand. I have recommended precautions which will keep the Colonial credit intact, and suggested the necessity of reserving land for the settlement of the people. The substitution of a more convenient, but not more oppressive tariff, completes the list of the principal features of the Budget. The Government confidently trust that a large majority of Members will join them in making a firm stand against an extravagant use of the credit of the Colony. We must not forget in the demand for new works the old ones to which we are pledged; nor must the lands on which the people are to settle pass into the hands of the speculator. New Zealand, the home of a large, contented, and prosperous population, is the end to which we hope to attain. With that object in view have the proposals of the Government been framed, and I commend them to the kindly and indulgent consideration of the Committee.

Principal features of Budget.