A NEW RAILWAY POLICY.

Ashburton Guardian, Volume V, Issue 1463, 22 January 1887, Page 3

A NEW RAILWAY POLICY.

— . » Mr Vincent Pyke h?8 been addressing a aeries of lettera to the Otago Daily Times pi the subject of railway reform, and thus earns up hia proposals : — I would reduce truffle and passenger rates, m the first instance, by so mnoh as would leave the reoeipts soffioient to recoup the actual working expenses, and no more. As there would be an immediate increase of traftio, this redaction would not be far Bhort, if at all, of 50 per cent. I believe that the stimulus thus given to ae'tjement, and consequently to pro- I Auction, to trade, and all industries, would be sufficient compensation for any apparent loss of railway revenue ; and further, that such loss would bo of a temporary nature only. L<is'>- financial year tho railroads yielded £375,000 beyond working expenßns Thl? year they will yield less. Tsie interest on loans was £500 000 m round numberp, and the deficiency of £125,000 was paid out of consolidated revenue. I propose to pay the whole ont of conscl dated revenue, and, as a temporary expedient, tj impose a speolal duly of 5 pec oent on all imports. This would yield £350,000, a aam whloh fully represents the falling railway revenue for the year And to reassure our timid friends, the period over which suoh duty should be 'continued may be limited t ■> two yearß— whioh would afford ample time for fairly trying the experiment. Sir, I venture to think that the adoption of the policy I have ind'cited would give such an impetus to every Industry m New Zealand that before the expiration of the two yeara, " pepreseion". would only be »n cgly memory of the put,