[Per R.M.S. Doric.]

Te Aroha News, Volume IV, Issue 196, 26 March 1887, Page 8

[Per R.M.S . Doric.]

Prior to the moving of the address in the House of Commons, Lord Randolph Churchill rose to give au explanation of the circumstances which lod to hia resignation in December last. Contrary to expectation, the late Chancellor's speech was of the c .Im66t, plainest and moat gtraightforward character, and made a profound impression on the House. "It v. ra 3"'r a3 "- his lordship said— "impossible for him to usefully retain office as Chancellor of Exchequer ia a Government in whoaa policy effective retrenchment found no prominent place. The amount o? the estimates which were presented la me by the two departments exceeded thirty -one millions for the coming year, for the support of the army and navy." Th-it, a> Lord Randolph Churchiil proceeded to pcint out, exceeds by cix millions the average outlay in the ten years from 1874 to 1881. In 18S5 Mr Gladatone'a Government made necetdaiy aud proper, but etrictly tondt-orary, provision for the imminent dau^of te war'withjKugeia In 1356 the Liberal JMidist-y was piactically bound by the Esnmatoa of its predecessors But Lord Randolph Cauichni will find very general concurrencainhis view that the tima for retrenchment has ai rived, especially as before hia resignation he Lad reluctantly consented to Supplemental y Estimates of three hundred thousand pcunda for the navy, close upon half a tiiillion for the army, and anotLor half trillion for ex pensea connected wish the army in Egypt. "An insroaea of six millions," says Lord Randolph — *' «i sudden jump in a time of peace of eixrml.ioa? on your military and naval expenditure mear-3 threeponce on the income tax. ): Tho incc-jae tux, a 9 v»e all know, is now aleightpiucau* the pound, and wo may say of this import as a certain famous resolution 6aid ot tho power of tho Crown, that " it has increased, ia increasing, and ought to bo diminished."' Mr Smith and Lord George Hamilton declined to make any reduction whatever, a id they wore sup ported in their refusal by the Prime Minister. Lord Randolph pressed ior a million, but as he pathetically declared, if the worst had come to the worst, he would have been satisfied with half that Bum. We need not follow Lord Randolph into all the details of his financial criticisms. He referred solemnly to pledge 3 in favour of retrenchment which he had given in the country, and asked if ho was not to be bound by them.