POLITICAL INTELLIGENCE.

Globe, Volume XXIV, Issue 2573, 6 July 1882, Page 3

POLITICAL INTELLIGENCE.

TBI TeLEBBAI*H.]

[feom otje cobbebfondent.j WELLINGTON, July 5

Members duly returned to-day, and ronumod their labors thia evening, whicb is devoted exclusively to private business, as will be to-morrow »lso. Thero in very little political news or gosnip stirring. Members have not yet shaken off their fsetivo relaxation.

Among the papßi-s laid on tho table this evening was one oontauing the correspondence relating to the Binking fund on the one million loan guaranteed by the Imperial Government, which wag referred to in tho Colonial Treasurer's statement. The particular point referred to by Major Atkinson 13 raised in a latter from Mr W. O, Sargeant, one o£ the Grown agents for the colonies, to the Secretary of State, dated 24'h June, 1881. The gist is contained in tho following paragraph of that letter : —" It appears to me that the contribution by the Colonial Government ehould be on the whole million or £IO.OOO every half year, and I would observe that, as the debentures issued and unissued are all repayable on the lot June, 1907, the contributions to tho sinking fund on the whole amount should commence at one and the some time." In a note to the Treasury Lord Kimbarley'b secretary expresses his lordship's opinion that " under the third clause of the third section of the Act, the 2 per cent, per annum which is to be paid towards the formation of a sinking fund is only payable on ko ir.uch of the loan aa may have been at any time actually raised, namely, in this case, £200.000 ;" "but " unless the sinking fund contribution is made in the manner suggested by tho Grown &gent, the funds actually available for redomption will be insufficient to provide for the extinction of any further issues of the loan in excess of £200,000 already sold." In reply to this, the Lards of tho Treasury state that they must regard tho wholo million as having boon issued, and require sinking fund to be paid accordingly, bus they aro willing that the money Bhali be invested in Colonial Government debentures, but they think Iho investment should not be confined to New Zealand debentures, or to those of any one colony, as there might ho a difficulty in realising when required, and a 6aio of debentures ropropenting a million sterling might inconvenience tho colony whose stock had been so largely purchased. A!bo, as there is a doubt whethor 4i per cent, will now be realised, the state of bho sinking fund ought to be reviewed in fivo years' time, in order to ascertain whether it will be sufficient to rep3j the whole million by 1907. This oorreepondenca was transmitted to the colony by the Colonial Offioe, with a letter from Lord Ember ley, and the New Zsaland Government replied in February last, acquiescing in the proposals. These are tho papers moved for in the Legislative Council by Sir G. Whitmoro, I understand that an [official summary is in courae of preparation, showing at e- glance the purport of the replies given by tho various local bodies to Major Atkinson's interrogative circular. As mentioned yesterday, some 200 replies have been received to the oiroulars ..ent out, which numbered over 400. The large majority strongly approve of the Colonial Treasurer's aoheme. Boughly opaaking, I should think that 60 or 70 per cent, of tbe local bodies cordially favor the Government proposals, and only some 15 per cent, object, the remainder giving a qualified ! approval. There seems to have been considerable dilliculty in driving it into the

heade of some of the looal bodiea what wai really required of them. Accordingly aome have returned confusedly irrelevant answers to particular queriej; for instance, in reply to the question <u to the beat mode of electing a csunty chairman, one body entered into an elaborate dissertation on the merita and demerit* of the ayetem of county government. There is as might be expected a marked difference between the views of the rioh County Councils in the south and those of the starved bodies in some parte of the north. The latter objeot to the dual form of local government involved in having both County Councils and Boad Boarda, but all agree that more money is the one thing needful, and that if that only could be provided they would manage to get on very well. It is evident that the Hon. Major Atkinson made a oapital coup when he ssnt out those oiroulara, for the result has been to arm him with a very powerful weapon in defence of his local government soheme, in the shape of distinct proof tbat there is an overwhelming majority in favour of it among the bodies exclusively interested ia the question. Consequently however, hon. members may protest, and denounce it, the astute major has only to point to his replies as proving that those same members are, at any rate, not representing the viewa of the looal bodiei in their own districts.

There ara renewed rumours to-day of a No-confidence motion being in contemplation to >be moved soon after the Public Works Statement is down, but nothing authoritative has been allowed to transpire. A return was furniahed to-night, showing the respective borongh and oounty valuations under the land tax and property tax. The totals are as follows : Under the d tax (mimproved) Boroughs in Auokland, £1,381,945 ; Hawke's Bay £565,179 ; Wellington, £3,941,954 ; Nel-eon, £376,032 ; Canterbury, £2,869,049 ; Otago, £5,227,419. Total, £14,361,578. Counties in Auokland, £4,324,219 ; Hawke's Bay, £4,035,374 ; Wellington, £6,075,169 ; Nelson, £2,857,020 ; Canterbury, £16.820,338 ; Ota«o, £14,100,170. Total, £48,212,290. Land tax (improved)— Boroughs in Auckland, £2,748 250 j Hawks'g Bay, £1,012,137; Wellington, £6,246,912; Nelson, £1,376,826; Canterbury, £6,073,924; Otago, £9,499,457. Total, £26.958,516. Coun v ies in Auokland, £7,862,012 ; Hawke's Bay, £5,953,610 ; Wellington £10,439 552; Ne150n,£4,776 318; Canterbury, £23,311,898; Otago, £20,264,767. Total, £72,608,163. Under property tax Boroughs in Auckland, £2,861,775 ; Hawke's Bar, £847,956 ; Wellington, £4,570,760; Nelson, £1,270,646; Canterbury, £4,941,163 ; Otago, £7,933,681. Total, £22,426,981. Counties in Auckland, £7,428,345 ; Hawke's Bay, £4,473,011 ; Wellington, £7,634,290j Nelson, £3,801,735; Canterbury, £17,257,564; Otßgo, £10,936 256. Total. £51531,201. Grand total, land tax (unimproved), £62,573,868 5 do (improved), £99,566,679. Property tax, £73,958,182. There are now no fewer than seventy Bills on the Lower House order paper in various stages. The Hon. Mr Dick's Leasehold Qualification Bill gives the purohase to leaseholders of £lO annual valuo, having three years or more to run. Mr Hutohisoa's Contagious Diseases Act Repeal Bill is after the pattern of Mr Macdonald's measure, and consists msrely of the following operative olauee, " The Contagious Diseases Act, 186), is hereby repealed."