NEW ZEALAND DEFICIT.

Globe, Volume XXIII, Issue 2171, 9 February 1881, Page 3

NEW ZEALAND DEFICIT.

To the Editor of the Globe.

Sib, — Party bias, ignorance, and corruption overcloud many things in New Zealand ; in nothing do they do so much mischief, as when they oast their heavy shadow over our money matters. Perhaps the most glaring instance in point is the money article in the “ Lyttelton Times,” sth February. Throwing aside the baleful power of the three political Gorgons whose names begin this criticism, and whose power in Gloucester str.-et is such that it is hopeless for truth to seek to enter there, let the men of New Zealand look at the quarters’ returns as a mere matter of business. June, 1880, quarter shows I, Greenbacks renewed ...£150,000 11. Fresh greenbacks 200,000 111. Cash deficit 101,165 IV. Loan help to defence ... 35,000 V. Office expenses to loan ... 100,000 £586,165 September, 1880, quarter shows:— X. Greenbacks renewed ...£993,000 11, Fresh greenbacks 200,000 111. Cash deficit 245,340 IV. Loan help to defence ... 42,000 V. Office expenses to loan £189,059, less £IOO,OOO above 89,059 £1,569,399 December, 1880, quarter shows : I. Greenbacks renewed ...£254,000 11. Fresh greenbacks N'l 111 Cash deficit 40,300 iV. Loan help to defence ... 38,500 V. Office expenses to loan ... 133,953 £465,753 Results:— £1,397,000, old greenbacks renewed 400.000, fresh greenbacks issued 115,500, loan help to defence 322.000, office expenses to loan £2,234,500, greenbacks and loan The loan account shows help £773,000 during the year repaid ; also, that in March we had £1,178,173, and that now, February, there is about £200,000 left of all the loans. Besides all the above, let the people read my article “Renewal Fund,” (Ohristohuroh “ Echo,” 9th April, 1880), and they will see still heavier cause for thought. To make good a party charge against Major Atkinson, viz., “that he hurts New Zealand,” the “Times” stoops to deceive people here and at home, but Stock Exchangers can read accounts better than the “ Times ” can, and the deceit recoils on its author. I will never deceive for party purposes —I bad rather vanish from the scene. Tours, &0., J. W. TREADWELL.