POLICY OF THE EXECUTIVE.

Dunstan Times, Issue 324, 10 July 1868, Page 3

POLICY OF THE EXECUTIVE.

(To the Editor of the Denstan Times.) Sir, — My last letter contained an exposition of the Government policy respecting Public Works and Immigration. I will now pursue the inquiry into the remaining branch of their Colonization policy—viz, the means by which their plans for Public Works and Immigration are to be carried into effect—the Revenue policy, and in this iuvestig ation it must be borne in mind we have not to consider merely the positive acts and pr cceedings of the Executive, but their designs-—not which they actually propose or’aceomplish, but what they would do, if they could, and were not prevented. Taa'poliey for carrying out their extensive designs for public works, is to make the Land revenue yield its uttcraiost farthing, an 1 to increase it by every’possible means ; by forcing‘Laud sales, by sales of leases and increase of agistment rates : and not content with the'forestalling the annual income for present exigencies, they propose to mortgage the revenues of the future by borrowing large'sums of money. The whole‘scheme of policy is designed to force on colonization by Government action, disregarding times, circumstaae es, and the natural conditions of progress and development. What effects are produced by this policy, and what its ultimate results, we will now consider. The obvious effect of throwing lands into the market in quantities greater than is required for immediate use and cultivation! is to transfer a large proportion of these Lands into the hands of Capitalists : and the host|lands, as these are always first selected. What is the consequence ? The establisnment of a Landlord and Tenant system : depriving the future cultivator of his legitimate right and title to become owner of the time to sacrifice,the improving value of the public estate, for the benefit .of individual ! speculators. j Experience in Australia will illustrate i the operation of this policy. In Victoria j especially, large tncts of land (have been j i purchased by Capitalists at £1 per acre, amlrelet for cultivation to tenants, at rents in many cases of 100 per cent on tho ammmt of the original purchase money, i. e £1 per acre per annum. Many of these tenants under leans for seven or ten years havejto ten.'3 the -in 0 clear it and enet [ ; 1 uihlings, all of which improvements be--1 come the property of tho landlord at tho ' cod of the t -mi. The evil effects of this •' .'■■ stem wcim soon apparent in the impoverI if; ;eu Condi ion of these tenants ; and many er.tli in have bee t entirely ruined and j 1 swept away by th i tide of free selection j i rolling in, up m diem. Thus a system j 1 which is one ol rhe osp icial curses of Ire-j la id,an 1 w’u ch'k’c; ps the tenant.farmers of j England in a state of chronic poverty to mini; Lcr totue aggrandisement, the luxury and dissipation of London, is, by this system of forcing laud sales for raising revenue • —transferred to these young, free and independent communities. It tends ’to perpetuate injustice, and to sacrifice the rights of the future, for the imaginary benefit of the present. The sale of leases of pastoral lands is a part of the same spendthrift policy. It is an introduction into Now Zealand in the nineteenth century of the feudal system of tenure, of line and quit rout; a system yet resorted to sometimes, by owners of largo estates in England: and for the same purpose as it is here introduced, to minister to prodigality and extravagance. In consideration of a fine or premium at the commencement, or for a renewal of a lease, either for life terms or a fixed period, tho rent to bo paid, is merely nominal, often a peppercorn annually. In like manner, the Government in order to raise £IO,OOO or £12,000 by sale of the leases of the Wakatip Runs would have sacrificed the future revenue to bo derived from Assessment. This forcing system accelerates the exhaustion of tho Rational capital, and will plunge the country into grievous difficulties. Tho available land revenue will be soon exhausted, and the remnant being required to pay the interest on the money borrowed, there will be nothing to expend on Public works ; and any new necessities required in tho course of Colonial progress, will have to be provided for, by individual enterprise, or by tolls and taxation. But not content with monopolizing the present and future revenue derivable from the public lands, it was also proposed to ob tain, if possible, a large share of tho Customs revenue : not for the purpose of diminishing tho burden of taxation, local or general—“ KO, no we never mention it,” but to add to the expenditure on public works ; by courtesy allowed to be reproductive. The distinctive actuating principlcsotthe Executive are two opposite and contemptible vices—Avarice and Prodigality ; in appearance incompatible, but often united. It is destructive in its principles, tending to accelerate the exhaustion of the public resources by prodigality, as that of the opposition does by anarchy and agitation. This Opposition and Executive, in serried ranks confront each other in hostile attitude, and Greek meets Greek they fight for victory ; hut truth eludes their ken, and lies concealed in her native well in conscious security, undisturbed by tho clangour of tho contending factions. The influence of prodigality in administration on the character of the Government and on the credit of tho country is shown

by evidence various and unquestionable. 1 For tbe purpose of discharging obligations 1 induced by past extravagance : Debentures : were issued at 20 per cent discount: ' that is to say—in order that readers not f familiar with financial technology may not > misunderstand—On'condition of receipt of ■ £BO ready money, the Government agreed i to pay back on a'future day £IOO with in- : terest at the rate of 6 per cent. : thus is 1 £2O out of each £IOO entirely thrown away and will have to be made good out of the pockets of .the people. The capitalist taking advantage of the necessities of the Government, and speculating on the risk incurred by its ruinous career requires this guarantee against ultimate loss. Thus a prodigal Government is the slave of its necessities, the victim of the speculator, the servant of the man of money : A power exists in the purlieus of the Treasury that guides the movements of the puppets that manipulate the money, and notwithstanding all the bounce and assumption of Superintendents, and plotting of Secretaries, the dignity of Government is degraded, its character dishonored, and the public credit of the country destroyed. It must be'understood that neither tire present Executive nor the present Council are responsible for the state of things above described ; but both are especially for this—that, with the credit of tho country 20 [per"cent below par, they attempted to add anothermillion to its already overburdened resources : and the proposer of this measure “ a distinguished financier. ” “ Incrcdibile dictu.” Thus the policy of Provincialism is essentially suicidal, it dies by the hands of its natural protectors—by Superintendent “ initiation, ” by conspirators in tiro Council Hall ( mi enemy has’done this, says the Superintendent) “et tu Brute”—its bosom friend. I would gladly throw a veil over tho personal sins of the governing party, but as this is one of tho proximate causes hurrying on the downfall of Provincial Institutions, the disquisiti on would be incomplete, were this branch of tbe subject passed over in silence. Tire proceedings of the Government during'the past twelve months have given a blow,to Provincial Institutions, from tbe effects of which recovery is hopeless. Some persons heretofore have believed that those Institutions might be’,improved ; that modification was all that was required to preserve their usefulness and perpetuate their’existence butthejaction of the j Executive has created a general distrust in j such possibility, and diffused extensively among thinking men and owners of property, apprehensions of future danger. The autocratic assumption and dictation of the Superintendent, the triumph of faci tion in the"Council, tbe servility and recreI antjjonduct of the Ministry, and the facti- ! ous opposition of the Representatives of the Provincial Govoriv.uent'iu the General Assembly, must be patent to all observers, and requires a formal proof. Their affected concession of local authority, while they keep the real power to themselves, their ! delusive and “at oaplaudum ” policy in | the dispensation of tho’'revenue ; their mcai surcs, often deceptive and impracticable—- ' for conciliating local favor ; —their affecti- ! on of patriotism ; their promises in public, and cajolery to deputations ; —their constitutional pcoadilloes their tenacity for office, and increasing its emoluments, when the incomes of tho people and tile resources of the country were showing symptoms of decline ; and the influence which those artifices and pretensions have exercise Ton popular opinion ; show that a power 'may be wielded at any moment prejudicial to the interests'of individuals and tho well being of tho country. This is tho source of the feeling of insecurity, and want of confidence in the prospects of the future, that is sapping the foundatian of prosperity, an 1 entailing impoverishment on the country, It lias now been shown that tho policy cf Provincialism —both popular and conservative, tends to impair and ultimately destroy the public resources. With tho exhaustion of tho Land revenue,'the National means for facilitating tho progress of Colonization are also exhausted, and the mission of Provincial Institutions is ended. The doom of Provincialism is decided, and inevitable. Tu characters of brightness, eclipsing tho lights of the sanatorium; amidst the self glorification of Superintendent, tho flatteries of sychophants and financialists, there is written on tho wall,— “ Thou art weighed in tho balances and art found wanting. ” I am i:c. COLONUS. Kawaran, JulyStb ISGB.