The Evening Star SATURDAY, SEPTEMBER 13, 1873.

Evening Star, Issue 3297, 13 September 1873, Page 2

The Evening Star SATURDAY, SEPTEMBER 13, 1873.

Although opinions are divided on the subject of the Provincial Loans Bill, we are glad to see that it has been carried by a large majority in the House of Representatives. This should, at any rate, recommend it strongly as being a sound and necessary measure in the judgment of those who have had the best opportunity of discussing its merits and weighing its provisions in all their aspects. Nor does it come recommended the less when the names of those who have opposed it are considered. The list comprises men who systematically refuse to accept any measure'proposed by the Premier, on personal grounds, as well as those who have invariably shown a captious and crotchetty spirit; but amongst them we regret to find one or two not previously identified with an Opposition party. No one will feel surprised that MrT. B. Gillies opposed it, nor Mr Thomson of the Clutha. His reason for his vote may be gathered from that which he used to utter so frequently when a member of the Provincial Council in such a deprecating tone, “ I distrust anything that comes from Mr Vogel.” Yet this worthy mouth-piece of Cluthan political wisdom asked for a loan for the special benefit of that district. This Provincial Loans Bill will enable him now to obtain it, provided good security can be offered. Possibly herein lies the grievance ; the security may not be forthcoming, or the opportunity of pointing to his one attempt to do something in return for the honor of being elected being snatched out of his hand, the little there was to recommend him is reduced to nothing. Mr J. L. Gillies may not find his constituents at Waikouaiti quite so ready to forgive his opposition, provided they can give valid security for jetty and harbor improvements. If they can, now is their chance. On the other hand, if they expected to have them executed at the expense of the Province, there is less probability than ever. It therefore depends upon the ideas of his constituents whether he has fallen in with their views or not. If they expected to be allowed to help themselves, the passing of the Bill will prove the best thing that could have happened to them. If they expected the rest of the Province to subscribe for their special behoof, then Mr Gillies, by his vote has worthily expressed the sportulary character of their notions. As for Mr Reid, although we should have been glad to have seen him act in the fair and manly spirit displayed by Mr Bradshaw, there is not much to be surprised at that he voted with Messrs Stafford and T. B. Gillies. What Mr Tolmie’s views are we cannot imagine. He has the reputation of having a clear head as a business man ; but it does not seem in this instance to have been turned in a right direction. In fact, thus far he has not given evidence that his sphere is politics. We know that there are those who imagine that the tendency of the Bill will be to lower the general credit of the Colony. For our parts we cannot see anything in its provisions calculated to produce that effect. It seems to us that there is nothing in it more likely to have that effect than would the formation of a number of companies, each offering a mortgage on special property for a specified object. At Home, some of the greatest works have been executed on similar security. The docks at Liverpool and Hqll, at Birkenhead, Hartlepool, and Sunderland, were formed by companies, some of whom scarcely advanced a three hundredth part of the value which their property afterwards rose to. For instance, the docks at Hull, originally hundred pound shares rose in the course of years to nearly two thousand pounds each in value, qjjd only about five pounds was advanced by the first projectors. Some of these companies borrowed the money for constructing their works, and found no difficulty in doing so at moderate interest. And although this Bill differs from the special Acts incorporating those companies, inasmuch as it empowers the Provinces to authorise the works on sufficient security being provided, those who advance money on those works will have to be satisfied that they are safe in doing so, and that the property and its improvements will recoup their investment with interest. The advantage of such a sys tern will be manifest in the destruction of log-rolling, both in the General Assembly and Provincial Councils, It will put an end to the grasping at public money by on 3 district to the exclusion of others. If Dunedin wants harbor improvements, the only question will be—What security are you prepared to offer 1 Give reasonable expectation that the plan will pay, and there can be no objection to the work being done. The country districts have been .continually harping upon the selfishness of the town in seeking to have a larger amount spent upon it than was its rightful share. Not long since the Mount Ida Chronicle condemned the harbor improvement movement as selfish, and expressed the opinion that having the Port Chalmers Railway, enough had been done, and that attention should be given to the country. The result of this Bill will he to draw a line between Provincial and local works. The wrangling for

precedence in money-spending for the benefit of a district will thus be put an end to, to a great extent; and the sound principle that those in a special locality who wish to improve their own property may do so on giving “ satisfactory security” recognised. We trust the decided majority in the House of Representatives may tend to silencing any objections the selfishness of the Upper House might be inclined to present to its passing the Bill.