SIR JULIUS VOGEL ON THE DEFICIT.

Ashburton Guardian, Volume V, Issue 1418, 27 November 1886, Page 2

SIR JULIUS VOGEL ON THE DEFICIT.

In the coarse of a speech delivered at Lawrence last evening, moat of which was devoted to answering questions, the Oolonlal Treasurer spoke as follows with regard to the fi lancial position. It is an opm secret that the revenue has not kept np to the amount it was expected t> yield The chief fall has been in Customs revenue, and you are all aware that it Is in consi queues principally of the more temperate habits of the peop'e of the country. It wju d be a strange thing to call that a misfortune, because It is clear that if money is not spent in strong drink there mutt be more to contribute to taxation in other ways. Another cause of the falling off is in the ad valorem duties, which have yielded leas, because there has been reduction in the cost of the imports brought into the colony. Whether this is a cause for congratulation or not depends upon your opinion as to the development of local Industries; bpt if, through import cheapness, there is a loss to the Customs, it is easy to see that consumers have gained, not only by paying a 'ess amount for the imports, but also less duties ; so I cannot think it an unmlted misfortune. I only refer to it to say that the Government are making it an object to retrench as far as possible in all directions the expenditure of the colony as far, that is to say, as it can be done consistently with the efficiency of the public service, and I think I may add with fairness to country districts in the way of giving them privileges of a similar character to those which the large towrs enj >y. 1 need eoarcfdy tell yon that if each of the members of the House had to dec da upon what should be the expenditure within their own districts, there would be no retrenchment, but a large increase of expend itnre. On the other hand, tf each member were allowed to decide what should be the expenditure within the district of which he was not a representative, there would, no doubt, be a great amount of economy, and probably an equal am mnt of discontent, [Hear, hear.] If I had spoken to you last year, I should have gone very largely into the question of the construction of railways, ard cf future lines, bat there has been a change since then. The last loan brought forward by the Government did not yield a price which the colony had a right to consider satisfactory, and I »m of opinion that the House will consider it wise for some time to come to carry only to completion the railways which are now authorised, and to abstain, as far as possible, from going to the London market for fresh loans [Applause.]