The Daily News. MONDAY, OCTOBER 19, 1903. THE FINANCIAL POSITION.

Taranaki Daily News, Volume XXXXV, Issue 224, 19 October 1903, Page 2

The Daily News. MONDAY, OCTOBER 19, 1903. THE FINANCIAL POSITION.

Although always ready to decry the prosperity of the colony, the Opposition press has been strangely silent regarding the figures quoted by the Fremiti a short time ago in the House. This silence is the greatest compliment thej could pay to the Premier, because ii shows that on investigation they have been unable to contradict the utate ment, the full significance of which dots not appear to hare been realised by the House or the country. Indeed, the figures quofed by the Premier arc, considering the small population, only some 800,000 people, little short of marvellous. It shows that both prices and the productiveness of the cslonyj are being well maintained, and will enable the colony to maintain its public works expenditure for the ne?fc two yens or so without serious interference. In view of the somewhat disturbed condition of the money market this is very satisfactory. Referring to the Premier's figures, it is necessary, to understand them properly, to go bick a little to the Financial St'-atemflnt, in which the surplus for the current year was estimated at £567,000. In making this estimate, Mr Saddon anticipated an increase in the revenue over expenditure of £BI,OOO as compared with 1902-03. At the time the Opposition press said the thing was impossible, and that the Prem'er was over-sau guine. The other <! t y Mr Seddon was able to inform the House that during the six months of thoyear just passed the revenue has exceeded that of the corresponding period of last year by no less than £BOO,OOO, If this rate of increase is maintained to the end of the year the surplus will have exceeded Mr Seddon's estimate by no less than £600,000, a sum which, added to the estimated surplus of £567,000, will give the enormous and unprecedented surplus of £1,167,000. Of course from this will have to be deducted money transferred to the Public Works Fund, but this does not alter the fact that the revenue is extremely buoyont and that all classes of revenue are keeping up well, and in this connection it is satisfactory to notice that, tho increase ii not in any one item bui all along the line, showing that thn 1 whole colony is prosperous, and that the spending power of the people is steadily increasing, What, we would like to agk, is Taranaki doing to derive permanent benefit from this prosperity ? A wise man under such circumstances usually uses his surplus revenue to increase his permanent improvement and put him i iu a better position to trade. Ta;anaki is, however, standing still, while her neighbours are pissing her. At

vv einngcoc, iNapie.r, Auckland, JJelann, Tiroaru, and other places, the pec ' are taking every advantage of the prosperous time to iccreaso or perfect their ! i harbour facilities, recognising thatgood hat hours are the luogs of trade.!' Taranaki on the other hand, alth->u«h '' perhaps getting a larger sharo of the I prosperity than any other pnri of the ' colony is satisfied to be an appendage 1 toother centres where the people are ' more wide aw&ko to the need of saaiag < direct shipment to the markets of tba world. With b1! our boasted enterpriao we find the people of Taranaki with the valuation of the hirbour d s- ( trict at about £8,000,000, afraid of < spending a paltry i!150,0Q0 in secur- < ing the certain hoop of a direct port-, i ( "•"•= 1 Mr James Sanderson invite ton!era for 1 erection of latrines at tjje High School,' f