The Evening Star THURSDAY, AUGUST 14, 1873.

Evening Star, Issue 3271, 14 August 1873, Page 2

The Evening Star THURSDAY, AUGUST 14, 1873.

Mr Fitzherbert has made a bid for the Premiership by attacking Mr Vogel on the tariff question. His four hours’ speech was intended to prove that the Financial Statement was “chaotic,” because “it was impossible to codify” it so as to reduce it to a “system of political opinions.” We presume this curious expression was used by him, for we hardly think any reporter could have invented it, although it seems to us that it is putting cause and consequence in wrong positions. Our notion is that tariffs are the results of political opinions, not the causes of them, although very frequently special political opinions maybe inferred from the character of a tariff. We do not consider that Mr Vogel was happy in his reply. It bears evidence of his having been worried and harassed more from without than in the House j for notwithstanding Mr Fitzherbert’s four hours’ onslaught, there is nothing in his speech of a seriously damaging character; nothing that will lead to organising an Opposition under his leadership; nothing to justify the belief that the interests of New Zealand would be so well cared for, or so anxiously watched by him, as by the present Premier. The gist of Mr Fitzherjjert’s opposition may be very briefly summed up when taken in connection with his and Mr Bunny's secession from the Ministerial ranks last session •. it is ail contained, in the local question of the Wellington loan. Had what they asked received the support of the Ministry last session, Messrs Fitzherbert and Bunny would have supported the Fox-Vogel Administration: had Mr Vogel consented to the proposal to authorise special Wellington borrowing this session, Mr Fitzherbert would not have discovered that the Treasurer s Statement was “ chaotic.” Too little attention has been directed to the important proposition of the Premier to concede to the Provinces the power to borrow money on public works on specific securities, such as Wellington is unprepared to offer. It is one of those comprehensive and wise moves tending to relieve the General Government from being hampered by logrolling. Under former Administrations this vice was carried tp a serious extent. Those who feel curious In sne-b matters will be amused by referring to tpe record of transactions ol this character in the history of Administrations in which Mr FitzhbßjßEß.t floured

as Treasurer. Otago always suffered from those intrigues. Although the richest Province in the Colony, with an estate the least encumbered, combinations of members of Northern Provinces were continually reaping advantages at the expense of, or denied to this, Mr Vogel was then a young member —a thorn in the side of the old oligarchy—and wo believe he very truly said yesterday, whatever knowledge he bad of logrolling, he had learnt from Mr Fitzhbrbbrt ; for that gentleman has always had the reputation of being an adept in the art. Two advantages may be expected from authorising borrowing on specific securities : public attention will be directed to the true nature of the land question; and it will be found necessary to adopt searching and accurate investigation into the necessity for certain works before the approbation of the Provincial Councils will be granted to a loan. Mr Vogel, in answer to a question respecting 'raising the price of land in Southland, pointed to the first, when he remarked that the adoption of the railway system had materially increased the value of land in the Colony; and that, therefore, care must be taken not to allow its being disposed of in large blocks to speculators. This view of the case is the true one. It is nothing new, but receives additional strength from the Provincial Borrowing Bill, and must ultimately lead to very important changes in popular notions of the terms on which land shall be occupied. Henceforth the Provincial Legislatures will not be the sole arbiters of what works shall and what shall not be executed on loan ; a new and very important personage or class of persons will have to be consulted. The Province, like the owner of a large estate, will be asked what security it is prepared to give for the advance of certain sums of money. Should it propose the security of specific sections of land, these cannot be alienated without the concurrence of the creditor, and as each year will render them more valuable, the real object of the Province will be to derive a revenue from their use equal to, or greater than the interest payable on the loan. The reckless parting with the Provincial estate by selling the fee simple at a pound an acre, will, under those circumstances, have to be abandoned. The Province will hold the property in trust for payment of interest and sinking fund of the loan raised on security of it; and as time rolls on, and population and wealth increase, each succeeding terra of lease will be of advancing value, and ultimately the people of the Province will be interested in large landed estates returning vast revenues, which will enable them to prosecute necessary public works without borrowing and without taxation. This is the tendency of the movement, and to . this form of land tenure we must reconcile ourselves. It is already in force in pasture and in mining : why should agriculture be an exception 1 It will enable us to avoid the vice of Great Britain of transferring the public estate to a landed aristocracy ; and the vice of America, of handing the land over to monster companies, who through the influence thus acquired rule the country for their special benefit. It is the only true way of conserving the land for the people, and economically settling people on the land.