ON THE STATE AND MANAGEMENT OF THE PUBLIC FINANCES.

Nelson Examiner and New Zealand Chronicle, Volume XIV, Issue 62, 31 October 1855, Page 2

ON THE STATE AND MANAGEMENT OF THE PUBLIC FINANCES.

In our last article upon this subject we promised to explain to our readers the bearing of Mr. Travers' resolution upon the Provinces referred to in it. We have been to a certain extent anticipated in this by Mr. Travers' speech at the meeting held for the purpose of preparing an address to the Governor, and by the publication of the " Memorial of Grievances/ from which they will have been enabled to gather some idea of the object and effect of the resolution. But some important points remain for consideration, and these we propose bringing under the notice of our readers, in order that they may the more fully see the position in which the Middle Island stands in regard to its Land Revenue. With the exception of the Pelorus district, of a small tract of land adjoining the Provinces of Nelson and Canterbury, and of D'Urville's Island, the native title has already been extinguished over the whole of the Middle Island. The funds necessary to extinguish the native title over the remainder have been provided, and Mr. Maclean's arrival here, in order to complete the necessary arrangements with the native claimants, is hourly expected. When this has been done, the whole of the Middle Island, containing an area of upwards of 60,000,000 of acres, will be open for colonization. The case is very different with the Northern Island. There, the great mass of the land is still in the hands of the natives. Considerable difficulty is found in inducing them to sell their lands ;

and when they are induced to part with any, J they generally offer a very, large proportion of worthless land, with a very small quantity of good. Moreover, they are constantly increasing the price at which they will sell even these least valuable parts, and it is anticipated that in time, they may demand a price per acre, equal to that at which it is subsequently sold by the Government. This is, of course, a very great disadvantage to the Northern Island, hardly compensated by the increase in the Customs' revenues, arising from the consumption by the natives of imported goods, or by the export of produce raised by them. There is no doubt, that in order to promote the colonization of the Northern Island, the native title to considerable tracts of land must from time to time be extinguished. Colonists must and will have land. It is their very instinct to acquire land ; and if they cannot do so in one place, they will leave it for another. This is seen and felt by the European settlers in the Northern Island, and hence their perpetual cry to the Government for the extinguishment of the native title. But this requires funds. Now, the Constitution Act has made the cost of extinguishing the native title one of the first charges on the Land Revenue of the colony, and has given to the Governor the fullest power of appropriating the whole or any less proportion of that revenue (after deducting certain other first charges) to that purpose. The present Government, taking advantage of the power so given to them, and in order to minister to the Northern cry for land, expended in this service alone, since January, 1853, no less a sum than £ 100, 000 in cash, besides leaving unpaid instalments amounting to £20,000 or £30,000 more, which will become due in the course of next year. We showed in our last how, under the present system, the whole of the Land Revenue of the colony after payment of toe other first; charges, was expended in the purchase of native lands, leaving not a penny for the Provinces. That instead of any proportion of that revenue being appropriated to immigration, or devoted to works of utility and necessity, such as roads and bridges, the whole of it has been expended in enriching the Northern Island, and in promoting in especial the welfare and progress of the Provinces of Auckland and Wellington. It was a necessary result of the system of advances established by Sir George Grey, when coupled with such a gross and reckless expenditure in the purchase of native lands, that the Provinces of Nelson and Canterbury should be found in debt to the General Government. A schoolboy, who had got to the Rule of Three, could have seen this, but Dr. Kpight did not. The thing was palpable as day, and yet the Doctor allowed the system to be carried out without a word of comment or warning. The consequence has been, that the Middle Island has been shamefully and grossly plundered ; and, after seeing its revenues devoted to the extension and advantage of other parts of the colony, it is actually and coolly asked to tax its inhabitants for the purpose of still further securing that extension and advantage. Unless the views of the Finance Committee be carried out, the Provinces of the Middle Island will certainly be reduced to the necessity of direct taxation, even to maintain the Provincial establishments. As for immigration, except a purely voluntary immigration, it will be quite out of the question. Mr. Travers' resolution was a blow to ihe system devised by Dr. Knight and his colleagues for the advancement of the Northern 4t the expense of the Middle Island. Its effect would be, to compel the Government to retrench their expenditure in the purchase of native lands at Auckland and Wellington, within reasonable bounds, and at the same time leave to the Provinces of Nelson and Canterbury such a proportion of their Land Revenue as would enable the Governments of those Provinces to carry on immigration and public works. It is the interest of every inhabitant of the Middle Island to support this resolution, and we trust they will do so. We know that Canterbury is active, and it has not been Mr. Travers' fault if we are idle here.

We cannot too strongly urge upon the electors (who will shortly be called upon to choose their representatives for the next session of the General Assembly) to select men having the interests of the Province at heart ; men who will cordially and faithfully unite in maintaining those interests, and who, above all things, will endeavour to carry out the objects of the resolution referred to, and so prevent this Province from being plundered of the funds which ought to be devoted to the furtherance of its progress and welfare. "*

We have received Taranaki papers to the 24th instant, together with, a communication from our correspondent, which will appear in our issue on Saturday. The presence of the troops continues to keep the Natives quiet, but we do not perceive that the grounds of quarrel between them have been removed. The Governor's arrival was expected daily when the Taranaki left, which was in the early part of last week.