Loans and public Works.

Manawatu Standard, Volume XI, Issue 1718, 27 May 1886, Page 3

Loans and public Works.

(Extracts from Financial Statement.;

Th* preient .Q«vernt|ie»t 'liave 1 ■ f re- • qvently declared tb«ir opinio» that a • larger proportion of- boirowed .money «hoold be spent on ■ railways, and that : the railways determined on shouid be ' constructed with vigour, to seenre speody ♦conomicul results. They have also insisted that whilst^ Übcr it plentiful' and money and material cheap the timi* is particularly suijtable for proceediof With each uuderlakinijs. It has l»e»na matter of anxioui consideration with tbam whether they ihould brius; down Dropoeals ftr worke txttndipf over a n.rfod of feom five. to. tjen years, and proWd^alSa^ & . M ¥otrawed from tirai . to lam "#^n'^J x * complete those werks^r|llf aid tlhey be content with ; makih*. prop^M tp^epii over a i shorter period^ fhi* h|V^ determined cm the lattet *«rfe^fjn»rt ir^a one reason. First';! mayjay,:ihariti» v not ' Inconsistent with the great ; »bject;-£f i rapidly pnshinir forward, thej'^orkti, ' which demand the most considerat^n. Aifain," it will keep the .co'ntroVofibC; expenditure mptri within the grasp of Parliament— an object of which thny readily admit the value, oo lonr as due faith ii kept m the matter of using the Ipane for the purpose fyi which th*y ar« borrowtd. Lastly, tbhy have reason to think that the detraction to which New Zealand has been subjected ie such that its resources are not sufficiently appreciated io London, and that the market th»re will be more iatisfipd with authority being t*»w> for a small loan. I have to announce that the Government will «skforaloan «f a millidn and a half to be devoted exclueively toi railway^ pur--poses. Thoy propose. 1 that the North Island Main Trunk Railway Joaa b^ made inalienable frem the object for wnich it was intended. Taking; the amount from the 31st March last;. it will leave over £800,000 to be voted a« the House pleases on other purposes thaa railways, such as buildinjer, pur«kjW«f< Motive lands.' roads, and other works « K oldnelds, reading &c. We look lo «t yielding at [least two years' provSien, as also tbat.tbe railway, loan will dV the same. Indeed some of tbe TL.W thatleaawmpctW exptn».<

m two years. Railway construction will thus be vigorously carried out by the Government, whilst it will also be proceeding on the part of the Midland Railway Company. ;' ■■■;"-. I now read to the Committee a list of the railways to which it is proposed' to dttvotu the million and a half loan. , v ; Extension north of Auckland..^£7o,ooo For doubling railway line out ; - • '. , of Aueklund southwards ... 33,000Thames— TeAtfoba ..;' ... 80,000 Auckland— ttotofiia .-*.;.';^120,000 Napier— Palfiierstbn^;-; ; : ..; 100,006 Mauriceville^WMt">»- "' tiM&jM Blenheun—Awatißre v;.. ; i-; Hokitika^G^in'ojith;;- '• ; *• Livingstone branch "" ... " .., 15,000 Catlin'e River ...... ;.. 50,000 .S*Bward3.ush ex tension '..; 20,000 Edaiidaie towards Fortrose ... 40,000 ■Mossboru ,-.... ... ... 5,000 Kiversdale— Switztr's .... ... >' 40.000 Oiagq Central ... ... ...200,000 Mount Somers— A If urd Forest... 14,000 Blenheim— Tophouie, ... ... 100,000 WeW'porM lnarigahua.;. ... 75,000 ; Open lints ... ... < ..; 2QOjOOO Raising loan and contingencies 63,000 . "'.'. ■:•■'. y.-y ;tpui £i,50£,000-