The Evening Star WEDNESDAY, JULY 30, 1873.

Evening Star, Issue 3258, 30 July 1873, Page 2

The Evening Star WEDNESDAY, JULY 30, 1873.

The Statement of the Colonial Treasurer, of which a synopsis has been furnished to us by telegraph, completely sets at rest the forebodings in which statesmen of the Stafford and Monro class indulged during the recess. The Daily Times , too, in justice to its readers, ought to acknowledge that its views on financial matters were partial and short-sighted, and apologise to them for having led so many into error. A more thoroughly practical illustration of the superior force of peace to that of war, has never been given to the world than New Zealand’s experience of the last four years ] and it is one that should be earnestly and deeply pondered. The Stafford Administration were about to attempt to “ conquer a peace ” by war. They calculated upon reaping sweet fruit after sowing the seed of bitterness. The Fox- Vogel Government, adopting the plain common-sense view of sowdng the seed of the plant, the fruit of which they desired to reap, have realised their hopes : they sowed the seed of peace, and are now gathering the harvest. The plans proposed by the Treasurer are further developments of the scheme of public works and immigration propounded originally by him. They are almost necessary consequences of it, and appear to be of sound practical character. But on this point, as well as upon several others, we reserve our judgment until we are in possession of thc°full report of the Budget speech. As we predicted months ago, no additional taxes will be asked for; but instead of that the floating debt of the Colony is in course of rapid reduction. The few last sentences of the telegram deserve serious attention. The Colony is now committed to a vast industrial undertaking, in which different forms

of enterprise form the divisions of labor and it is essential, in order to success, that each should be well understood, so that the end pointed to by the Treasurer, of making “New Zealand the home of a large, contented, and prosperous population,” may be realised. The different propositions in the Budget call for future separate and careful consideration.