MR. STAFFORD ON THE PROVINCIAL LOANS BILL.

Nelson Evening Mail, Volume VIII, Issue 214, 5 September 1873, Page 2

MR. STAFFORD ON THE PROVINCIAL LOANS BILL.

We recently published Mr Vogel's speech on moving the second reading of this Bill, and now give a summary of Mr Stafford's speech on the same subject, as it appeared in the Post of Saturday last:— Mr Stafford said the House was placed in an unfortunate position, having to discuss a bill under which a deep fundamental principle was hidden. The Premier had made a most able speech when moving the second reading of the bill, and deserved the highest credit for the way in which he had eaten the leek. He had eaten it after having sown, watered, and nourished it. Noue knew better than the hon member that in the bill before the House he was sweeping away the last shreds of the original policy. He was in a position to influence the tons of the House, but he feared his action was not such as would tend to its improvement. The House did not deserve the sweeping condemnations passed by him with regard to log-rolling. It was practised, but not to such an extent that there were not a large number of members prepared to speak on great questions without being influenced by it. Something had been said about a meeting of members from Canterbury and Otago. So he would say what had been done. In common with many others, he had received an unsigned circular, inviting him to attend a meeting. He did so, and found there twenty-five members of the Lower and five of the Upper House. Of those present three-fourths never spoke one word that could be taken as an expression of opinion one way or another, and the stated opinions were more favorable to the bill than to the amendments. With regard to the proposals, he thought they were unwise, in that they would

put---- som^lprdi'inceia i* in ;. : exceptional positions, and, it would not be^possible to legislate for the settlement Jof greats questions white the , feelings engendered by thoae exceptional positions existed. The proposition to relegate important; public works to the provinces was moat "unwise. With small revenues at their command , with difficulties in raising loans, the works relegated to the provinces were just those which were sure not to be made. It would be better. io have branch railways, roads, bridges, _ &c., even than railways running simply from port to port. Steam coastal communication could supply the latter. The Premier bad appealed to the House for protection against the provinces. What were the provinces ? What were the provinces but the peoole of New Zealand divided by imaginary lines ? It was th»n against the people of New Zaaland, against pressure to enforce their wishes, that he appealed. Surely this was a most extraordinary proceeding ! It reminded him of a saying of Metternich's, that the people of Italy were an incongruous massj and yetthafi people' had succeeded in obtaining their liberty, and throwing off the Austrian yoke. He had given Mr Yogel his .ea^nest^u^pprt in^ hia

attempt to carry onfc a great policy, and' be sympathised with him in that, his hoar of failure, when that policy had resulted in nothing bat the wretched proposals before the House, and the still more wretched bill that had been abandoned. The Premier bad travelled in a circle. He had started a great policy, and he had come to fear the craving for money on all sides of which he had oeeq warned at the outset. If it were good to borrow money it should be got at the cheapest rate. Whether the provinces or the colony borrow, the people pay. The Loan Bill means that if a province wants £20,000 for branch railways, bridges, it should pay 10 per cent, instead of 4J per cent., and that there should be great difficulty in getting the money. It means this or nothing. If we ever were to see the colony in the happy prosperous state go glowingly described by the Colonial Treasurer, the manacles must be struck off. Funds must be obtained in the cheapest manner. He thought the Premier was alarmed at the approaching scarcity of money, otherwise he could not account for his rushing one-fifth of the million authorised into the market. It looked like an attempt to provide for tiding over a periodical panic. The works authorised and contracted for would exhaust not only the old loan but the new issue, except £300,000, and this without filling gaps in the trunk line. He sympathised with him, believing that he felt grave doubts as to how he was to get moaey to complete his railway scheme.