THE GREAT BORROWING POLICY.

Nelson Evening Mail, Volume VIII, Issue 17, 20 January 1873, Page 4

THE GREAT BORROWING POLICY.

The following " Echo from the Bush," by ., one GeofFry Crabthorne, is from a South Australian journal. The hints it contains are so valuable that it would not be honest to withhold them. Our Provincial and Colonial Treasurers will be quite struck with the thoroughly original ideas which are here enumerated : — I have a good mind to give up writing Echoes and take to statesmanship. It certainly seems the easier of the two. I have been immensely struck with the harmony that reigns in the Legislative Council as to the propriety of unlimited borrowing, and I only regret tbat Mr Morgan should bave been so obstinate as to make any objections to the obvious wisdom of his policy. I accept it absolutely; and against the time when I go into politics I have carefully stored up these maxims. Whenever you want money for any public purpose whatever — borrow. When taxes run short — borrow. When there is a deficiency in tbe revenue — borrow. When culverts are worn out on an old line of road, and you want to replace them — borrow. When £1200 will improve the gradients on a road that scarcely anybody uses — borrow. When unmade roads can be patched in places to serve for a year or two until the work can be properly done — borrow. In short, borrow for everything, aud let who will pay the piper. In one respect I must venture to differ from one or two: hon. gentlemen who approved of this policy on the ground that they had known many young men rise to prosperity by borrowing money as the colony proposed to do. My experience is different from this. I have certainly known young men succeed who borrow money to invest judiciously, but when they spend so as to leave them nothing to show in return, they rather have a way of coming to grief. Perhaps, however, it is a peculiarity, of the science of statesmanship as practised 1 in South Australia that we are able to spend borrowed money on temporary matters, aud yet be none the poorer afterwards. In this belief I commend the action of my cautious Council almost in the very words of the good old song 1 — Pack doubts away this welcome day, With cash we banish sorrow ; . To fill the till we'll pass this bill, And let the Treasurer borrow. . Bills for two years sball ease bis fears, Think how to pay. to-morrow! To cut a dash with lots of cash We'll let the Treasurer; borrow*. We'll let the Treasurer borrow, -, And think not of the morrow. Roads to repair, our cash is rare, I Our District Chairmen sorrow; ! But Treasury Bills will cure their ills'; j Give Barrow leave to borrow; Cash quickly .lent gets quickly-; spent;We'll aßk for more to-morrow ; ' V . And members, all, with foresight;, small, WUI let tne Treasurer borrow; ] ; ~ They let the Treasurer borrow, And think not of the morrow.