New Zealand. ITS POLICY AND POSITION.

Clutha Leader, Volume II, Issue 58, 19 August 1875, Page 7

New Zealand. ITS POLICY AND POSITION.

-yjj. \;± (To ihe Editor of the 'New Zealand Tifces.') , Sir,~phffetlered yfifa o$ "unbiassed. .by any .political pat^y* j propose, with syour permission, reviewing the present iposirion of' --this ,cplonY, and offering; "suggestions in its bebalf,- that I thinjc are releva)|V a^d/necessary, tpx extricate it from difficulties into winch it appears to ißs ; it'Js gradually but surely drifting. JFbe present prosperity 1 bas its Basis in twp ? powerful caiMes*--^, The 1 ligh. price realised for our chief export, vrool. 1 2. The i drbulation of large sum 3 , of Tn'oney^n liquidation .of pnbliff works.] !Tnjportant- unsatisfactory :^jßults may emanate from the overgrowth of j this? staple in all parts of the world, deteriorating its Value, and the «• finale " ojFfhecirculation of these funds from deficiency in the 1 supply-- both event?, in ail !pro-" -bability, likelyTo occur. _____ "|^u]pc^u^erf^pKgs so gigantic for,. a' &untrytin ats jpreTnterejeune^ef with all :tbeir prospects of future benefit yet a responsibility beyond 1 the means of, , or likely to yield any,, efqui'-' valentretUrntp, the present generation, * •. In their category, the most importarit, and therefore most expensive, j are thd'raiiwayß. Admitting their npcps*"sity to develope and open the country, they cannot for many years - rejturn other than working expenses^ simply W -cause there -will be neither produce nor -population tbvfeed them. „ , c , .--. Their necessary completion, hojvever, must tend to considerable embarrassment* as they wfii require *n. outlay far in excess of capital from loans already raised ; and if so«< where is the security to be made available for a further supply? :'' - , English capitalists will naturally be Very shy of increasing liabilities already so large j.jmoret .so*, as the application ■will be made. at.a time of our exhaustion and depression. If consequently borrowing at high interest must then be Restored to, burdens already too onerous to bear will be materially increased. The present position may be thus 'defined : A very heavy debt of about twenty millions — public works far from completed, and involving a further large outlay, with funds for same nearly •exhausted. The taxation of population already very large, but in the present 'prosperity readily met. Present revenue quite inadeauateto liquidate interest on loans ana outgoing 1 expenses of the colony. The question ought to be now well •considered whether in a state of depres-"sfoh-I. the present system of taxation could be : supported, and if not, how the necessary supplies are to be realised. If is in prosperous times such measures should' be studied, to be economically, and. prudently dealt with. In the year 1840 I was an eye witness of a somewhat similar position in -Sydney, N.S.W., then comparatively »s young, a country. Trade and speculation, with unlimited credit, flourished, new country opened out for settlement, •and townships sold at fabulous prices. Prosperity was universal, all was *" couleur de rose." Yet before two years bad passed away ruin and devastation reigned,' the result of over expenditure and; rash confidence. New Zealand by exhibiting more foresight and common sense may avoid any »uch catastrophe. The General Assembly having met, we look from the members of the .Representative Chamber for the usual display of backsliding, envy, and jealousy peculiar to provincialism, and the pledges of partisans thereto. I fear it. is hopeless to expect any development of this foresight from a house thus: divided against itself. Provincialism has now relapsed into a many-headed monster, tnat must be wholly decapitated for the public good. If we change the venue to the Council Chamber, we find still greater ; obstScT^of^fetruef^ -anil/ TOal3are\ ofttbei i never was a Council or Upper "House so injudiciously constituted. Our friend Common. Sense can well Here beg , the question— What does it represent ? and Folly may reply— Wbealth ; in place of talent and education. Many of its members have, already acquired a power from their vast possessions almost amounting' to feudalism, and bave been nominated for life to this Council to serve a -special purpose; id est, the protection of their own interests. Among&t them some might be found philanthropic- enough to aid the country, but it is a fallacy to expect any measures to pass a Chamber so constituted' that wSI interfere with what they iwill considertheir personal rights. To such measures we must«ome, and "the war--cry of the forthcoming election must be to connect their, downfall. with, provincialism. It would emanate from themselves with much better grace, byj retiring a certain number of member^ every year by lot, who would be.eligible for election by such" parii of the : community they ; were chosen Jo represent. What^ I would .ask, will? thercounfiry gain, by tTansferjing, the , ralin|* ik >wer from^ the"prbvlhlcieji 'to.the'jQe^'eral Cte^ vernment,. if, m^ doings s.Q,^bpj^ihrt w it .into:theihandß''of this Tl^er Chambpfj already -•' swelling with its ewa con-; ceit" 5 - *' JV - ---' "-'■} '' i:1 . Tp^^t^hefi^ency :6f.th^bsi ion, the [h^^g.Qf^theT^^n^yiii^ the sale of the public estate are the a oain < Tesources, --- 1 i ; ~0--^j .- m The colony has already incurred irretrievable injury by the injudiciou

jl»i>r<stel^fha^^rt saonficed7 and were the same policy it r f puld fcon dwindle .into *Bom«wnOT wie safne is! the Irishman's, wjio carrying a lump of peat under his arm informs his^-neigb-oof-ne has just purclwsedTari- '* encum T bered estate." The remanaLimust inecessarily be patted, .witn to develope ,the country and .support r tne railways, 'but wny sacrifice'it,' and 1 whY not ' make * Itinßti-idrfienkl tft taxing die .coming, generation with a portion; pf tbepe bur^dens we, for their benefit, are now called u^on lo rb ß^ 1 ;. i ry: <- - >:,. , ', j •It will' hfe 1 generally Admitted that this H public r land now purchased by, the father, when- ' ti-ansTerred to the , son some ten or fifteen years hence will be increased ;in value, :twentyfbldl Why not-then continue 'the sale at rije,. .typset prjpe, subject to a further payment at a stated term by a percentage upon its tHen Valuation ? It would not militate against the sale any more than building houses upon leaseholds. Buyers study results, which in this case amount tb a certa(nty., .',;,... .■ •< „--,*. Tbe infinite service it would prove tb the country by thus maintaining a lien upon the Temanet of their public estate, in my humble opinion, cannot be overrated. . . n „ -„„'}__._ - ; v : . •| ; ; . i The present taxation of the population cannot be. supported, certainly not increased., and there remains but one just alterative— to' equalise it. It is one tnat requires plain " speaking, and ; the naked. tru.thua-.th'at t it must fall", principallyuponj those; Who, however willing must, bp, called upon to pay the penalty of the large possessions they have! acquired. Witn an outlay of a few thousands, industry, skill, opportunity; or good iuck, c'est biWrrtameme chose, have made them the autocrats tbey are, '. and' upon whom, therefore^ can the country have a more legitimate claim for assistance in carryinjg p*at these public works, that both directly and indirectly so much enhance the value of their properties ? It- will be about as difficult as squaring the circle to make this property or ianpl tax. an Act of Parliament With the . Legislative ..Council as now constituted. ,The:petty calumnies and canards, the offspring of weak brains, fulminated against Sir Julius Yogel, should be treated as too contemptible for notice. The country has admitted his talent and ability, and whatever his antecedents, he showed, when called upon, the brilliancy of the diamond concealed in the rough stone. The force of a speculative policy always hangs on practical opporturiess. He seized the occasion when the country, so long depressed, was ripe for it, Und carrying it with him. brought about the prosperity. it has enjoyed. Whether his genius would be able to guide it under a return of adverse circumstances is, I must admit, somewhat doubtful. Reverses I fear would not suit his constitution, and would seriously affect his much to be deplored bodily ailments. The hon. gentleman's loss at this trying momentwill be much felt, and may lead to untoward events for his party, but the Ministry, be they who they may, who will go to the country at the forthcoming election with a policy based upon the abolition of these provinces, the reconstitution of the Legislative Council, equitable taxation, and the protection- of the public estate, will carry the whole voice of the colony in their iavor and support. — I am, &c, C.J. P. Wellington, July 24. , j