New Zealand Times (PUBLISHED DAILY.) FRIDAY, APRIL 6, 1577.

New Zealand Times, Volume XXXII, Issue 5003, 6 April 1877, Page 2

New Zealand Times (PUBLISHED DAILY.) FRIDAY, APRIL 6, 1577.

At the general meeting of the Chamber of Commerce the "Chairman drew .attention to. the misstatement which had appealed in “ Weatgarth’a Circular ” for the month of January, 1877, and in reply to a suggeation made by Mr. Tolhuest, manager of the Bank of New Zealand, that the secretary should communicate with Mr. Westgarth, Mr. Hunter stated that he believed that a letter had been sent to the Agent-General, calling his attention to tlie factj'and'requesting that gentleman to remonstrate with Mr.: Westgarth, and insist, upon; his putting the matter right in future publications. We are able today to publish a copy of the letter, which it will be seen fully bears out the statements made by Mr. Hunter. A. reference to the table appended .to the document shows that ,the revenue for. the colony of ■ Victoria for the years 1874 and 1875 amounted' to £4,236,423 ; that of New‘Zealand for the year 1875 being £2,841,953, whereas Mr. Westgarth represented it to be only £1,677,626,; or £1,136,302 less than, it, really was. It is. true’there is a to the circular,: “The New Zealand .revenue is ex provincial revenues. .Adding these, which include the lan(i fund, the total is £2,813,928.” But even this is £30,000 under what it actually was.' ;We feel certain that Mr. Westgarth will: beo only too happy .to correct the error, and that he will be more careful in-; future, therefore we shall ..say- no - more • on this point.; but we Bimnot permit the opportunity to escape of draw-; ing notice to! the table which is appended to the letter, and of directing attention to the items which. piake up the total iri each column, pretnrsing that the population.in Victoria is staged ;to exceed 822,000, whereas in New -Zealand it has only reached some 400,000, >or less than one half. It will be seen that the Customs in Victoria realised £1,628,234, in New Zealand £1,274,400, showing a difference of only if 353,8.34,;. exciso jin Victoria, £32,474; in New "Zbaland, £102,670 ; ports and, harbors iin tlie one colony, £19,935. ; in the other,£18,667 ;land sales in Vicf £767,030; in. New .Zealand, £486,27.8 ;■ yents, |of Crown lands, Victoria, £174,193; NewZealand, £112,172 ; r ‘ Victoria £921,713, New Zealand £289,868 ; pdst office and telegraphs, in in New Zealand, £133,091 ;> fines, fees,' and forfeitures, Victoria £116,831, New Zealand, £199,257. We shall’not pursue the comparison further.! The Victorian revenue shows a total of £4,236,423, New Zealand £2,841;953, the difference being £1,354,470, the greater proportion of which is made up from the increased revenue arising from’ railway receipts, £921,713, as against £289,369 ; and landsales £767,030, as against £289,369. This cannot be regarded as otherwise thin highly satisfactory as far as New Zealaiid is concerned, and warrants us in indulging in bright hopes of the f utiif e.‘ At present we are expending large pn pur railway, lines in course of ; construction'; ; £17 0,000 to. £200,000 .waa the amount,mentioned by Mr. Hunter .when., addressing the Chamber of Commerce last week. Supposing these lines to be bringing in revenue, it would - not be ah extravagant calculation, if we were to say.- it would' make'a difference of £400,0000r ,£500,000, that is, that instead ’of haying to !pro,vide £200,0i00, ,we should be receiving of general venue,, and- ( it ought ajsp; to be - bere'd that’fhe .pppidatioh ew Zealand; is leas ; than; half :of iu Victoria, but is , mcreasfng ,mttch: inore,( rapidly, which will swell our other items : of! receipts year after, year., , What we, have stated-must convince ' any unprejudiced mind tbit New Zealand; is; iraoingJVictofia very* hardfor-'the first place in4he Australasian' colonies, and ought' to- ’shatter to the’, winds . all the nonsense :we ; constantly'; hear uttered with respect to‘ the : future of New Zealand. We have pnly l Y tO jthinjk of the yalue of her. imports and exports; .to .remember that- within ■ the.dast’ifour years/theiproductionof Wool has ihoreasejd' from abOut 100,000 : bales :to *160,00p, forming an addition of £1,000,000 in' money value; that the deposits in tlie' banks, representing mere unemployed capital, amounttp spme £5,500,000 ; the colony has established hanking inati-' tutions which are able to, lend the Government £1,000,000 or _ £1,500,000 when circumstances render it advisable to borrow money in New Zealand, instead of going elsewhere for it. Every endeavor- should- be > i made to avoid the , imposition of ! additional taxation. . If we can tide over,matt ers.,fpr a year or two our revenue will be greatly augmented by the increased receipts from' the various lines of railway which will be completed by that time,- and then!it ought to; be ample, and sufficient ;for - all legiti-' mate /requirements; afid .it will 'be the duty of the Government to keep the ex-, (pendilure within theUhconie','aha only tp. 'borrow"' for ,: ■ undertakin'ka; that would be certain to return 'interest oil the -j outlay, / and also aid-, the general !rpvenue.O Ii I-airf t-'jjpoilf .' j