The Daily News. WEDNESDAY, APRIL 12, 1905. THE PUBLIC FINANCES.

Taranaki Daily News, Volume XLVII, Issue 7796, 12 April 1905, Page 2

The Daily News. WEDNESDAY, APRIL 12, 1905. THE PUBLIC FINANCES.

When the full text of Mr Massey's Auckland speech reached London the criticisms therein relative to the last New Zlealand loan naturally attracted the attention of the London correspondents of the leading journals of this colony, who promptly made inquiries into the matter. Commenting generally on the finances of the colony thu Dunedin Star says :—" It is gratifying to have Mr Seddon's assurance that the surplus for the last iinancial year will amount to more than half a million sterling,; and it is hardly premature to congratulate Ministers and the colony as a whole upon tho prosperous state of the pub'ic Treasury. The Premier (who is also Colonial Treasurer) told a Wellington audience recently that the rutums would probably indicate an excess in the Customs duties of £20,000 over the estimate (which, we may remark, was not unduly minimised), while similar results were likely to accrue from the railways. Ho also expre'jvd the opinion that the colony hull not reached the height of its prosperity, but this sanguine hope must not be allowed to banish recognition of the fact that the point in <j,uesiion will be reached sooner or later. Sound and vigitant methods of finance were nufver more necessary than at the present time, though there is no warrant for tho fhroquent insinuation that tho present Ministerial methods arc unsafe or otherwise unsatisfactory, Oppositionist extremists huve laboured indefatigably to pick holes in the financial position, but the results have usually been more muddlesomo than effective. We uiuy take this opportunity of mentioning the AgeiiWieneral's comments on the circumstances of the last New Zealand loan, as reported by our London correspondent. No doubt) -llr lieeves' explanation furnishes a conclusive ipply to the reckless and captious criticisms »i the Opposition Leader, but many people will agree with our correspondent in 1 egret tin£ that ollicial restrictions debarred the Agent-Gen-eral from handling his critic in that direct manlier of encounter at which he is an expert. It ix true that tho critic is one "whose shafts fly harmlessly enough" so fan as New Zealanders are concefned, but the trouble is that one-sided and fajla•aous representations of the colony's linances are industriously circulated in the Home Country— too often, there is roaison to fear, at the instance of partisans whose one aim in life is the overthrow of the Liberal Government. Mr Reeves does his best, in a more indirect fashion, to counteract the effect of these unpatriotic tactics, but (as our London porrospemdent observes) there seems to 'be no suflicienU reason why tho Agent-General should not be eutittod openly to refute critiefsms reflecting upon the credit of the Cojlony,; <uad h?s own financial aibiliiy, from whatever quarter they may come. It seems hopeless to expect the bitterest section of the anti-Ministerialists to play the game fairly and count the cofJt of tlipahasty animadversions. 1 ' ON THE FOUHTH I'AGJS, Li teraturc. Commercial. Theatre Hoy a).