THE COLONIAL TREASURER BOWLED OUT.

North Otago Times, Volume XXXVII, Issue 8175, 6 May 1895, Page 3

THE COLONIAL TREASURER BOWLED OUT.

Tho Wol'ington o rroßponrtent of the Chris'ohurch Fnss tologrnphs to that papi-r : Your L »ndon correspondent, undtr d»to 23rd of March, ««ys : "In conversation with Mr W«rd I nioiitirnod tho '^caio' which hud been exoi'rd in London financial circles by tho N>»temoni at'ributed to linn that (ho reason the hud tax bud to bo collected twico lust year was to pruvont New Zealand ranking dofault in its impending piymonta in London. Mr Ward declared ho had never (nid suoh a 'lung, and thib his words h d been ut'orly mi>roprosentod in tho cable menBaj>e," 'J his is made the text of a very ttonchnnt leadiug article in tho Post of thin ovoning, in tho c -urso of wlrch occurs (he following passages fromH«nsirrl ; On tho 23 h of July l*Bt Mr L. M'Konzie, in the House, naked tho Treasuior why tho Government yt<\b collecting tho l.md lax in August instead of in D cemb r. Tho reply was as follows : " Mr Ward felt quite euro tha f when tho honorable gentlemm knt>w tint at tho ond of S ptembtr heavy interest piymerits Iml to be nude in London, and and that ir was dosiiablo co provide th ; s m >»oy, and not to do whit h' feU suro hoi), nil mbors on both sides of tltu Ilousii would not ciri 1 to soo donp, viy. , tho iaiuo of Trotsury B'lli, ho would soo that it was expedient to have this money to m<nd Hume to pay the intorowt. Tnar, was the solo reason why the money dtriv-tb'o from tho tax was r quirt d in August iijfltead of in tho ond of December. It whs found necessary to ollcot it at an eatlior p.iriod this year." On tho samo d^y Mr Ward moved tho aljournmeut of a number ( f Orders of the Day to enablo him to moy« the second reading of the Lind Tix Bill. In moving tlu> p»siponninont, ho said tho oulit'r collection of tho Uud lax monuy this year was necessary for kvopini; thu p«yin:ut of our interest up till tho end of Sptember next, and that, in fact, there w«u d bo no lime to do this unless the Bills worn put through now. The Pjemier also urged the urgency of tho necessity for posing the Bill, and a'atd he hid in'orviewed Captain Russell to represent te him the ntcesshy which existed. When i he second reading oaoio on, M< Wr»rJ Bft'd, "I may Mate that we h»vo some L(W0,000 t> provide for the payment of intoreat \n London at tho end of October ; and that to enable that to be done, an eailior colluc ton of tho luid tax U ncco - s<uy. Wo h»va no% and wo shxll not havo, on thu 31sb of Ooiobor, suflioient money in Englmid for tho payment of iutotest, I regret an much as any other membor in this House (ho necessity of the collection of the land tax at present, but it is unavoidable." In tho discusnioii whloh ensued on tho Bill the Premier took part, and in doing so s*id, •'In O tober next early L 600,000 is wiuted to pay interest. Tho l\easurer w mts to be in a position to meot this LGOO.OOO and we Hak for this Bill s > that wo may colleot the Land Tax and thus find Bomo of tho money r. quiied. What will the position bo when the LGOO.OUO is wanted and wo only luvo L 470.000 of debenture.*? That would not piy tho LGOO.OOO woald it? He continued : "I Bay it is to in tintuin our credu, to in?ot these just demands, that this legislation is passed at tho hands of the House. Does my honorable friend think for a moment that '.ho Colonial Troasutor would come down with a B II and Hsk for this if it wero not- required?" But tho Premier becamo ovon more emphatic wlnn ho said, " If tho Troaauror in not to bo trusted, if in asking Pafliamont to p.ss the Bill ho is acting un?is ly, and Ins word cannot ba taken, that there will bo a nccoasity in October next for tho paymunb of this money, if the honorable gmii lonian's statement cannot bo accup'od by the na » joiifcy of iho llouso, ho his no right here on tho Tiea'-ury Bonchoa."