The New Zealand Times. (PUBLISHED DAILY.) MONDAY, DECEMBER 10, 1877.

New Zealand Times, Volume XXXII, Issue 5216, 10 December 1877, Page 2

The New Zealand Times. (PUBLISHED DAILY.) MONDAY, DECEMBER 10, 1877.

Three has been no lack of Financial Statements this session. The last was made by Sir Feancis Dillon Bell on Saturday night in the Legislative Council, when the Appropriation Bill and Immigration and Public Works Appropriation Bill were on their passage through the Chamber. The ex-Speaker of the House of Representatives said ho could not divest himself of his sense of duty in adverting to the reckless course they were taking in finance. It was impossible to ignore the dangerous state the colony was in, as sliown in the two Bills before the Chamber. We need not follow Sir Feancis into his figures. He did not profess that he had discovered anything new. He had simply taken his figures from statements which had already been published. He stated that it was actually proposed to expend during the year over six millions, including loan, while the entire revenue did not amount to much more than half that amount. It was impossible that all the works asked for could be carried on, and Sir Feancis implored the Government to stay their hand. If they did they would earn the gratitude of the country. No trumpery saving in the public departments or a change in the incidence of taxation could save the colony from financial disaster. A stop must be put to the lavish expenditure. The Colonial Secretary did not dissent to what fell from Sir Feancis Dillon Bell, and stated that Parliament would be called upon before long to refuse to vote money for local purposes out of loan. Localities would be called upon to pay for their own works. What embarrassed the Government was what were termed supplementary works. The more was done for people the more they asked. It was not well to be always crying out about the state of the finances; but no doubt a few temperate words uttered now and again in the Legislative Council would have a beneficial effect. However, it was prompt decided action that was wanted to place the colony in a healthy financial position. The above are strange words from a member of a Government who brought down a proposal this session to borrow four millions, and made no stand whatever on the Supplementary Estimates. However, the good sense of the House prevented such a misfortune to our credit as the launching of a four million loan in the London money market, after the damaging statements which have been made by the Premier in reference to the finances of the country. There is little doubt that there is great need for retrenchment in expenditure upon works of a purely local character, and the present Government, had they been desirous, had fair opportunity of moving in that direction; but the records of “Hansard” could be searched since their accession to office without finding that in any application for expenditure of public funds they had taken a decided stand. No Government had a fairer opportunity. They had in a great measure obtained office by constantly stating that the colony was in a state verging on bankruptcy, and they could with good grace have resisted the various assaults made upon the public purse. High-sounding phrases will not mend matters, or keep the local wolf from the Treasury doors. If the finances of the colony are in such a bad state as Ministers and their supporters would have ns believe, the feeble Government which Colonel Whitmoeb so fittingly represents in the Upper House are not likely to get the colony out of its difficulties, for it is perfectly plain that not one of the Ministry is capable of understanding the public accounts, or of giving anything like an intelligent statement of the financial position in which the colony stands. The leader of the Opposition has again and again pointed out gross blunders, and has challenged the Government to refer his charges to the Public Accounts Committee, but the Ministry have shrunk from the inevitable exposure of their ignorance, and either remain blind to the truth, or, as Major Atkinson says, have not the manliness to retract the statements they have made so damaging to the credit of the colony. However, despite such a high authority as Sir Feancis Dillon Bell, we believe New Zealand to be financially sound at present. Whether it will bo so or not when the present Ministry quit office is a matter indeed for very grave consideration.