FINANCIAL COMPLICATIONS.
TO THE EDITOR OF THE NEW ZEAI.AND TIMES. Sir, —The Hon. Mr. Gisborne is reported ( Hansard , vol. 29, p. 11) during the debate on the Land Tax Bill (September S, 1378), to have said, “ I think the colony is to be congratulated that for the first time for many years it is brought face to face with finance. I mean the term finance in its broadest sense, as comprising not only the expenditure, as also the raising of the revenue. For several years we have been, as it were, almost playing w th the shadow of financial reform, and we are now called upon to deal with the substance. How, sir, was the substance dealt with by the party to which the hon. gentleman belongs By passing a Bill authorising a loan of £5,000,000, and sending Home that Bill to be operated upon in England when it was known there by those who inquired into the matter that taxation had been reduced in a direction in which no complaint had been made of it, and no compensating aid to the revenue had been imposed. Add to this —no account bad been given to Parliament, showing the amount to which the Government expenditure for the year would extend at its termination, nor has any attempt been made to show how this expenditure would be met. Still less was it shown how the interest of the increased debt would be provided for. Perhaps the contemplation of finance in its broadest sense caused the lofty-minded members of the M sot* ■■v to which the hon. gentleman beloc . look such petty details as
an operatic. ■ ■ mail a scale. To the or-jia.iiy mind they appear as essential for the consideration of the capitalist, who is asked to lend his money, as the production of title deeds would be to an intending mortgagee. Perhaps after all the passing of the Loan Bill was a mere sham on the part of
the late Ministry to amuse the ParliamentSir George Grey has told the people who have, strong arms and hands of their own that capital is needed. How about the unemployed a»d the immigrants arriving —I am, Ac ,
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New Zealand Times, Volume XXXIV, Issue 5798, 29 October 1879, Page 2
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363FINANCIAL COMPLICATIONS. New Zealand Times, Volume XXXIV, Issue 5798, 29 October 1879, Page 2
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