ADDRESS BY SIR JULIUS VOGEL.

Manawatu Standard, Volume XI, Issue 1576, 8 December 1885, Page 2

ADDRESS BY SIR JULIUS YOGEL.

(UNITKD PRESS ASSOCIATION.) Pujjedis, Monday, Instead of the address which he was to deliver, Sir Julius Yogel has written |an a<l<h'ea» to the Tuapeka. residents m the local Times. Commencing by expressing his regret at being unable to visit the district, he proceeds to state that if Government have not been able to overcome the depression, and the low price of some of the principle staples, they have done all they could. Broadly speaking, the policy of the Government wn3 to set before the people the necessity for earnest application to the development of the resources of the Colony. If we had a home population earning wealth, we could be indifferent to prices elsewhere. The great difference between those who supported the Government, and those who opposed it, was that the latter were averse, to the policy of progress which to the former seemed so essential, and the question hung very much upon whether the Public Works Policy were iiccessful. There was real depression when it was introduced amidst strong opposition. It had added to public debt, but that debt was many times represented by the wealth which had been made. The question now demanded decision whether it was advisable to continue that policy, and how far it was safe to discontinue it. He did not say the policy could 'be resumed pure and simple. The^time was past for ; paying the passage money of immi- j i grants ', and much as population was J needed, the Colony would have to depend upon the attractions offered. The Colony should deal primarily with extending railways. Roads and bridges should be undertaken by local bodies. There were large fields for the settlement of people both m North and South, and there were many railways to which attention should be directed. There was the district of Westland outside railway communication with its enormous mineral, wealth. Sir Julius then went on to speak of tho wealth m the bed of the Molyneux River, recommending a resumption of mining enterprise m Otago. He then went on to deal with the ques- :- tion of Protection and Free trade, so- ■ called, and said that he was convinced] that the imposition of duties of a fairly j restrictive character was the policy all classes of the community should join m j ■pholding. He always raised his voice m favor of a high rate of wages, and if that* rate «vere to be swamped and capital were to employ labor on its own terms, then we would have lost the general distribution of wealth, on which the real strength of the country depended. For these reasons this was not the time to suspend the Public Works Policy, as this was precisely the time when public works could be carried on cheaply. He concluded as follows : — " Do not, I beg of you, believe all that you are told about the laboring classes being heavily burdened. As a matter of fact the Customs taxation per head is less now than it was m 1870. As for the apparent ' large amount of public debt m New Zealand; it is not like thfe* public debt m most of the other countries. The public debt of other countries is the consequence of. wars and other unproductive expenditure. Whilst the cost of their railways appears m the shape of private enterprises, your public works are the representatives of i your public debt ; and whereas m older countries these enterprises would be embarked m with a view of obtaing from 5 to 5£ per cent, profit, the Colony carries them on content with obtaining a return which would yield 4 per cent, interest to cover the cost of the money borrowed. You must bear m mind, also, that if we extend the Public Works policy we shall be making railways through Grown lands, and the State will derive a great deal of the benefit hitherto enjoyed by the owners of private lands. I must impress upon you that m times of depression there is greater need for industry and energy. To stop the construction of public works would cause a great deal of unnecessary misery."