Manawatu Standard (PUBLISHED DAILY.) The Oldest Daily Newspaper on the West Coast. THURSDAY, JUNE 26, 1884. THE FINANCIAL STATEMENT.

Manawatu Standard, Volume IV, Issue 179, 26 June 1884, Page 2

Manawatu Standard (PUBLISHED DAILY.) The Oldest Daily Newspaper on the West Coast. THURSDAY, JUNE 26, 1884. THE FINANCIAL STATEMENT.

The Colonial Treasurer brought down his Financial Statement on the 20th inst, m the presence of a critically-disposed House, and at the time of a crisis m the affairs of the country, which by no means made the task a pleasant one. But the gallant Major seems to have taken little heed of the fire of the Opposition, and even seems to have assumed rather a jaunty, self-satisfied air, whilst delivering his final state- j ment of accounts to his exulting i and triumphant opponents, seated on the Opposition benches. The ex-Premier has certainly the satisfaction — if it is any — of knowing, that he leaves the affairs of the colony m a most delightful state of entanglement, and an ordeal for his successor m office to go through, which will be a severe test of his political abilities and financial genius. Still it cannot be denied that Major Atkinson has a good idea of what should be done to bring the colony to a state of prosperity, only unfortunately he has failed to carry into practice, or at least to leave m practical existence, those beneficial measures which he undoubtedly sees are required. For instance, m the Statement, he points., out that for a thorough prosperity to be established is New Zealand, the development d£ oiir colonial industries must receive careful attention; arid, besides living within the limits of our means, we must encourage the consumption of our local products and manufactures, and believe m ourselves. In this he entirely supports our remarks re- i cently made with regard to colonial industries and markets, and the existing depression, and the causes to which we attributed chiefly its j prevalence. The shortcomings of the ex- Atkinson administration have been due more to the fact that j these measures have not been carried into effect, than that its leader did not appreciate them, and see their desirability. The planning was apparently done, but the working neglected. When speaking on the Address-in-Reply, Mr Ivess . twitted the Major on his "fads,* 1 and pointed out that he had taken a measure m hand, (referring to the National Insurance scheme) but had dropped it suddenly, because the tide of popular favor did not flow with him and his proposals. Federation and the nationalisition of the land, may also be put down with the ex-Premier's " fads," although his sudden retirement from office has prevented them from being ibrought forward and made into realities. Commenting on the deficiency, the Statement goes on to say, that the margin, or over-plus,, allowed m the original -estimates for expenditure, was purposely cut down, so as to leave as little money m hand as could be safely left, and thus to discourage any clamouring for money, ..which would take place if a large 'margin were allowed, over and above that required for appropriations. The present depression is attributed more to the fall m value of the stable products of the colony than anything else, and the Treasurer denies that there is a want of confidence m our country, and points to the ready manner m which the last loan had been subscribed, as, a proof of his statement. He also recognizes the ovewmportation that merchants have been guilty of during . past two years, and deplores the the existence of so many middlemen, assisting to cut down the prices of sound firms, and for the most part trading on an unsound basis themselves. All this reads Very well, and even the strongest of the late Treasurer's opponents can but agree that these are the chief factors ,.. m the : present • quite abnormal commercial depression. But more than this is required;; to improve things needs more than a. mere pointing out of the causes of their being. The next Colonial Treasurer will require to act; to positively introduce good and beneficial schemes to prevent over-impor-tation ; to actually assume a firm and decided policy of economy that will defy all attacks; promptly make such provisions as will settle the land, now wasting and languishing for want of culture, with the

right sort of settlers; to quickly take such steps as will m some manner encourage colonial Industries ; and m deed, and not only m word, set this young, fair and promising country on such a footing, that depression will be unknown, and general prosperity the order of the day.