The Evening Star. THURSDAY, DECEMBER 31, 1874.

Evening Star, Issue 3700, 31 December 1874, Page 2

The Evening Star. THURSDAY, DECEMBER 31, 1874.

This evening's publication brings the labor of 1874 to a close, and in acknowe liberal support this journal has received, we sincerely wish our many readers “A Happy New Year.” Not much need be said about the year about to close. There has been nothing very striking in its political or social phases. Commercially it has been one of general prosperity. Thousands have found their way to this Colony; but, as we pointed out years ago would be the case, instead of glutting the labor market and reducing wages, the incomers have created a market for labor that can only be supplied by fresh, importations, who in their turn provide work for others to follow them. That there must be a limit to this widening demand is self-evident, but that boundary will not be reached for years to come—probably not until the gradual work of equalisation of wages throughout the world is nearly effected. When this takes place, and sooner or later it will, nations will settle down into communities in which division of labor on a large scale will take place according to special capabilities of production; and most probably no unwise jealousiesor strivings after exceptional prosperity will lead to the continuance of interference with the natural process of exchange by prohibitory duties. Before • then it will be discovered that, in order to become rich, nations, like individuals, must have rich nations as customers, and that no greater folly can be enacted than supposing it possible to become rich by keeping customers poor. This is a lesson our statesmen have not learnt during the past year, and we trust it will not have to be forced upon them through adversity. The advantage of a large population to enable us to bear the burden of taxation was shown in the large surplus revenue above that of the preceding year. Prior to the meeting of the General Assembly very general expec - tations were said to have been enter-

tained by the opponents of the Ministry that new taxes would have to be imposed to meet the interest of our loans. Some journals, that assume to be leaders of public opinion, went so far as to calculate our deficiencies and prescribe the taxes to be imposed to meet them. Their prophecies were, however, falsified, and their calculations a waste of figures: no additional taxation was needed, nor is it likely to be required, if the world’s peace is preserved. If nothing occurs to disturb the peaceful intercourse of civilised nations, there seems every probability that the year 1875 will prove as steadily prosperous as 1874.

In Otago development is rapidly proceeding. During the year several additional miles of railway have been opened for traffic, new lines have been contracted for, and the construction of them commenced. Wherever the railway system has been brought into operation it has proved a boon to producers, consumers, and travellers, and has yielded ample and increasing revenue. Not only have lines been laid down by the Government, but landed proprietors, convinced of the advantage of tie best modes of transit, have com menced forming a line of railway to the Peninsula, and their example is likely to be followed extensively in other districts. These necessary efforts at development supply a sufficient answer to those who ask what will become of our immigrants when the public works are completed? Results answer—“ The/ will either have become employers of labor themselves, or will work for private employers.” Politically, the year has been one of preparation rather than action. The year 1875 will have to work out or reject the projects of 1874. These mainly consist of changes in the form of administration of Government in the North Island, although many are inclined to push the abolition of Provincialism throughout the Colony. As this question must force itself very prominently on public notice prior to the meeting of Parliament, we need say nothing of it now. Sir James Fergusson somewhat unexpectedly resigned his office of Governor, and has been replaced by the Marquis of Normandy. Sir James, during his short stay amongst us, evinced shrewd good sense in his proceedings, although he had his detractors. His Excellency the Marquis of Normanby does not come amongst us altogether unknown, as he has successfully governed Queensland for some years. He has announced his intention of visiting the different Provinces of New Zealand, so that the land over which he rules may not be a terra incognita to him.

In Dunedin we have been exceptionally busy. The town is extending 011 # every side, and houses cannot be built with sufficient quickness to meet the requirements of the rapidly increasing population. To meet the demands of trade new shops in rows, new warehouses in rows, and new wharves have been built; and it has now become necessary to deepen the harbor to provide for large vessels coming up to Dunedin, instead of adding to the cost of goods by additional labor and cost of transport through discharging at the Port. The concentration of the railway system of the Province in Dunedin has rendered this necessary, and we trust in our retrospect of 1875 we shall have to allude to its completion. On the whole we consider the new year will open with very favorable prospects of success, which it is to be sincerely hoped will be realised.