MATTERS POLITICAL.

Feilding Star, Volume XVIII, Issue 116, 14 November 1896, Page 2

MATTERS POLITICAL.

TO THE EDITOR. Sir, —The general public have been galled time after time by the present Ministry saying they were a non-borow-ing, economical Government. I have called them a blundering and plundering Government. Here is a proof. In 1865 there were floated £500,000 of Imperial guaranteed debentures, bearing interest at 4 per cent, and to mature in 1915. In 1893 the Government converted these debentures, giving in exchange £616,000 at 3£ per cent, and thereby securing £163,702 of the accumulated funds. In plain language, the Government told the people—who foolishly believed them —that they did not borrow but carried on the public works out ef revenue, and yet they slyly collar no less a sum than £163,702, and add £1560 per annum to the interest to be sent to London. Was this done by " the will of ibe people?" No, • bnt we poor deluded people have to pay the piper through the grinding taxation. The above is but a sample of the way the Government have raised the money to squander broadcast over the country. But some admirer of these taradiddlers will say they have spent the money on reproductive works that return good interest. Have they ? Daring the past three years the Government have spent £563,---432 on railway extensions, and there has been a loss of interest of £36,136, and no less a sum than ±61,490 has been expended to work and keep open the portions of the railways constructed. Let Mr Seddon and his nominee, Mr Bailey, deny the above if they can. Let me ask every settler to try and get the truth at this election, and to vote accordingly. I am, etc., Geoege Wiles.