THE NORTH ISLAND RAILWAY LOAN.

Manawatu Standard, Volume X, Issue 1495, 31 October 1885, Page 2

THE NORTH ISLAND RAILWAY LOAN.

Is a reply to a telegram from the Chairman of the Chamber of Commerce to Sir Julius Yog-el, asking if it was the intention of- the Government to raise the North Island Trunk Railway loan for general purposes, the latter states as follows : — " The case is this. For several years past there has been no attempt to earmark the sums raised. The purpose of such loan anthorised has been included m the fourth schedule of the Immigration and Public Works Appropriation Act When the North Island Trunk Railway Loan Act became negotiable it was added to the /schedule^ andi whenever it is negotiated, like other Public Workß loans, ;it will be avail-, able for Public Works votes. Jt .wns my intention to have kept it unnegotiated, ».nd to have spent money on account of the railway from other loans until there was a considerable amount to be recouped from it for past expenditure. That was the only possible plan for earmarking it. At tlie end «f March next there will probably be nearly half a million -leit of other loans. Expenditure according to, law, will proceed, and /it will not be long before the Trunk Line ' Loan will come into use.' Members who voted for Ca ptaiii Russell's motion were determined hot to sanction a hew loaiyind they must have had intelligence to know that as there was no^ provision for defence and other purposes, 1 .or other loans, they would come out i of theonlyunexpended loan until further provision was made. Major Atkinson was, I know, aware of it, and •very member who was not mnst have refused to consider the subjeot intelligently. ' We wished, to.: push v on the North Iriand Trunk , Kail way as rapidly as possible. What objeot members have; had m stopping it and refusing other loans, .except to use 1 the Trunk, Loan for .defence and other purposes ? . A great many of the. North Island mem bers wished to stop the railway because of obtaining Native lands, and possibly some wished to re-open the question of the straightforward route. It is right I should say that Sir George Grey did not vote for Captain Russell's resolution, and Mr Dargaville, Mr' Moss, Colonel Fraser, Mr CJadman, Mr Grace, Mr Moat, and Mr Thompson, voted against it. I cannot believe that members who did vote for Captain Russell's resolutiqu failed to understand its' obvious result. I have given you this lengthy explanation, but of course the simple" answrir 'to' your questiou is - that G6vernment does not intend to do anything but what the law requires.— Jolius Vogkl.