Poverty Bay Standard. PUBLISHED EVERY TUESDAY, THURSDAY AND SATURDAY MORNINGS. GISBORNE: SATURDAY, JUNE 30, 1888.

Poverty Bay Standard, Volume XI, Issue 1323, 30 June 1883, Page 2

Poverty Bay Standard. PUBLISHED EVERY TUESDAY, THURSDAY AND SATURDAY MORNINGS. GISBORNE: SATURDAY, JUNE 30, 1888.

The Financial Statement delivered on Wednesday evening last by the Hon. the Colonial Treasurer, accurately bears out his own words in his pre-sessional address to his constituents that in the Government policy there was nothing “ startling ” to communicate. Nor do we wonder much that, lucid as Major Atkinson's financial statements always are, the pre.ent one, compiled of the material it is, fell somewhat flat upon his auditory. To recommend self-denial and the practice of economy, and, as a colony, to live within our means both publicly and privately, is advice of too homely a character to be appreciated. The Colonial Treasurer, while having unbounded faith in the financial soundness of the colony, does not ignore the depression that has pressed heavily, and still leaving its effects, upon the community generally To the excess of our imports over exports the Colonial Treasurer largely attributes the commercial depression now experienced. The imports of last year exceeded, according to figures quoted, by one million sterling more than they ought to have been, to supply the reasonable wants of the colony. During the same year there was a large amount of capital introduced into the country, and so far, a corresponding increase in imports was legitimate. But so long as the Colony continues importing as it does, getting goods on credit and neglecting to augment its exports, there seems to be but little help against the periodical depression. Major Atkinson is fully alive to the importance of the country getting rid of its surplus stock, and he points quite cheerfully to the industries of the Colony that have been permanent!y established. A large and steady advance, he assures us, is being made in the export of grain, flour, leather, gum, sheep-kins, tallow, and sawn timber, and for the first time we have meat and dairy produce included in the list of things sent out of the country. These industries properly developed “ will tend either to increase proportionately our exports, or by reducing imports to liberate an equivalent part of efforts for payment to outside creditors.” In coming to the business for the ensuing year, it appears that a difference of £52,147 is estimated to ari-e between the expenditure for the year — £3,661,496 — and the estimated

revenue—£3,oo9,349. To meet this deficiency, the simple proposal, pr< > posal is put forward of increasing the Property Tax by one farthing in the £. This is estimated to produce a sum of £85,000. I'o the heaviest taxed of all the Australasian Colonies, the prospect of increased taxation being imposed upon the people of New Zealand, while doubtless commending itself to the mind of the Colonial treasurer, can by those most interested, be scarcely looked upon its cheering. The burden is increased when it should be lightened.