New Zealand Times. (PUBLISHED DAILY.) WEDNESDAY, JULY 5.

New Zealand Times, Volume XXXI, Issue 4769, 5 July 1876, Page 2

New Zealand Times. (PUBLISHED DAILY.) WEDNESDAY, JULY 5.

There can be no defence for the action of the Opposition initiated by Sir George Grey last night upon the conclusion o£ the Budget speech. The Premier (and Treasurer) in his Financial Statement disclosed a new financial policy as regards the Waste Lands of the Crown, and in order to prevent unfair speculation, in the face of this policy, unless at once temporarily adopted, proposed a resolution giving effect to that policy. He explained that the passing of the resolution in no way committed the House to its subsequent adoption, but that, pending its becoming law, there could be no unfair purchase of land under the old system. The Premier in his proceedings only followed the example of all Chancellors of the Exchequer in England and elsewhere who have initiated a new tariff, with regard to any purchaseable or saleable article, and in common honesty he should not have been opposed, especially by Mr. Robert Stout, who has ever been a champion of fair dealing in regard to land. As the Premier in replying to Mr. Stout said, the resolution merely reserved to the House the right to retrospective legislation on the subject.