The Evening Star TUESDAY, DECEMBER 24, 1872.

Evening Star, Issue 3073, 24 December 1872, Page 2

The Evening Star TUESDAY, DECEMBER 24, 1872.

As a matter of course (he General GoTermucnt can do nothing to afford salisf act ion to the Otupo JMijj Times. With a persistency worthy of a better cause, our morning contemporary continues to find Fault where none has been committed. and distorts and misrepresents facts to suit its purpose. _ With a blindness to its own commercial interests, it doggedly runs counter to the convictions of the mass of the public. In the face of a growing prosperity, it preaches ruin and disaster; and while the instincts of the people tell them there is success to be found in a large expenditure upon work s of a reproductive nature, the Times, in a spirit of old-fogey ism, prefers that the country should creep on as it did in its earlier years, although it is now able to walk on its own feet, and even to challenge some of its neighbors in the rivalry of a race. A pubthjournal in a young country should take the lead in all matters of improvement; should encourage others whose desire is to advance the interest of the Colony, and ought not to limit its opportunities to mere cavilling and obstruction. Ihe prudent .settler, °in forming bis plot, waters bis newly-planted flowers, or secures them against, the force of the uind tying them. up. The Times lias no skill in that direction. Its gardening is that of the child who is daily uprooting its plants to sec if they arc growing. At (he close of the last' Session of the Assembly, (he Government obtained an /'utliority to purchase (he Dunedin and Dort Chalmers Had way. Our conlemporary anil its correspondents view (his with alarm, aud with an acute nose lor anything bad, even if it be a false scent, smell a job in it. f Jo others, the giving of the power to the Government to acquire that railway, _ appears to be a piece of wise ami forethoughtful legislation. AV hat are the facts? In January, 1870, (lie H kid Executive made a bargain with Pkovdfoot and Co. lor the construction of the line, gave them c.vcry facility lor doing so, even to the prejudice of private interests. and took away all risk on (lie pari of the contractors by affording them a substantial guarantee of eight per cent, ou flic estimated e<>st ol ilic Hr. id Government then completed their generosity by renouncing all right to purchase till the cud ol six years, and then if they desired to purchase, they agreed to pay the market value of the undertaking, to be ascertained by arbitration. Never in the history of railways was such a one-sided bargain made. The contractors are not to blame for good covenants in their own favor; but the Hkid Executive showed egregious ignorance in dealing with the question, and a lamentable deficiency ol admins! ra-i-jve capacity, which will now cost the country thousands of pounds. li jyould have been easy, when the contract was made, to have stipulated for a liberal maximum price, but now Puorui'ooT an t) Co. are entitled to Hu- “market value.’’ .although that value should be a quarter /A a million. Very shortly a large quant'd y (V (rathe wilt be poured on to t lie Port Chalmers Ape from the Chit ha Hallway. Tin* public convenience requires that the whole tratllc shoddy be under one management, and wbcrian >ve consider the inexpediency of increasing iheniprket value of what, we have to buy. by ike addition of our interior iralhc, or the interest of the public, by securing united and cvoiimnical administration, it is qnile clear that it is desirable (bat if it can be got, (he undertaking should be at once acquired

by the General Government. We believe that (be promoters are not indisposed to sell it* they can secure a fair present profit. Wliat they are entitled to is the market value of their line at (he end of six years, after it has been fully developed by the interior raihvay system, sulpeet to shell discount as can be agreed upon lor the value of an immediate payment. Judging from the results of the Lyttelton line, it is likely that the full profits will reach from L 15,000 to L 20,000 a year. Tins. a. ten years’ purchase, represents a capital from LloO.OlX) to No doubt our timid contemporary will be horrified at the bare mention of sueh a sum. but. if it seems to be extravagant, it must be remembered that the present Goi eminent is in no way responsible for the cost. They are hampered by the want of foresight on the part of the Provincial Executin', who did not guard the public interests, and who had not the nerve nor the sagacity of the Canterbury Government to construct the line themselves. Whatever is paid, we are of opinion (mu the undertaking cannot, as regards the public convenience, be 'purchased a d.'} too soon. Every mont hj s delay, hy pro\ mg the (rue value ol the line, will only increase the promoters’ estimate of its worth to (hem. and enhance tne price Hie country will ultimately have to pay. _ Iho whole affair is a superb example ot U\c administrative bungling ol clodocratie government, which, in its tailuvc luundcrstaml and appreciate what was for the benctit of this Province, has left a legacy of annoyance and unnecessary outlay to their successors.