The Daily News. MONDAY, MARCH 26. PROGRESS OF NEW ZEALAND

Taranaki Daily News, Volume XLVII, Issue 8068, 26 March 1906, Page 2

The Daily News. MONDAY, MARCH 26. PROGRESS OF NEW ZEALAND

UsDßii the heading " Recovery and Progress of New Ze.iland," the High Commissioner contributes to the current number of the " Financial Raview of Reviews" a distinctly interesting -article. Mr Reeves says at starting: " The colony of New Zealand, which, between 1870 and 1895,

underwent sixteen years of more or less depression, has now enjoyed ten years of re.narkable prosperity. It is not the le.tst exaggeration to say that its present position and imineJiate prospects are probably brighter ttian at any injinent of its chequered history. Thirty years ago —in the lieydey of Sir Julius Vogel—New Zealaud was likewise accounted pros-

parous, but it would be easy to show that the same solid foundation of production and well-being wliicli is now tj ]><! found did not than exist tliei'e. In the seventies there were dangerous symptoms —a wild land speculation, a bad bauking system, and a want of variety in industries au.l produets. Tnese are now happily absent. So there is no reason for apprehending any such shock as that which the crash of t'.ie Glasgow Bank brought about in Njw Zealand in 1879, and whi<;h falling prices of wool and wheat intensified and prolonged." A clear and concisely put summary of New Zealand finance follows. Mr Beeves does not shirk the common criticism of New Zealand Government land expenditure to the effect- that charges, which ought to come out of revenue, are placed upon capital. He admits that here and there the critics make out a good case, though the items are usually rather petty in the bulk, but as against these he points out that during the past fifteen years the ordinary revenue has shown surpluses, out of which a total sum of £4,855,JOO has been transferred to the Public Works Fund, and that the Tre: sury may therefore claim that revenue lias reinforced loan expenditure with a contribution of nearly i 0,000,000. "If then," &e says, " some of the minor public works outlay should have been defrayed from revenue, that may be balanced by the foregoiug.contvibutions." He admits that " New Zealand taxation is not light, and is not growing lighter," but he contends that this is justified by the results, Mr Reeves does not deny that there has been a withdrawal of British owned capital from New Zealand to the exleit of twelve millions sterling since 1801, but he explains that by saying, " This i.< the displacement of forti,'u-jwned capital by .capital ownel by Nevv Zealanders," and he draws attention to the fact ' that during the same period the value of property in Njw Zealand lose from £150,000,000 to £222,0 0,030 in value, and that apart from the re J tuition of interest rate the withdrawal of British-owned capital was largely due to the fact that it was not rci|uired in the colony.

. BOKO I! Ci H KETIIENCHMENT. At to-night's meeting, the New Ply mouth Borough Council will resume consideration of the question of retrenchment, particularly the schenio of stall reorganisation. The individual Councillors have no doubt fully con. sidered the alternative schemes outlined by the Mayor, and by two of the Councillors at last meeting. Having something deliuite now to work on, the Council should have no difficulty in coming to a decision It seems to us that an amalgamation (with some modification) of the three proposals made at last meeting is quite feasible. Cr Brooking was in favour of retaining a borough engineer, to act also as sanitary engineer. The Mayor favoured dispensing with the services of the borough engineer, while Cr. Hutchen considered the offices of sanitary, electrical, and borough engineer should be combined. It seems to be generally agreed that the clerical branch of the borough staff should not lie seriously interfered with, although it is understood a proposal for the reorganisation of the Town Clerk's office will be submitted to night. Itegardiug the Borough solicitors, it is almost certain that the office, except for consulting and specific purposes, will be dispensed with, and the general legal work undertaken by the Town Clerk, who is qualified for the office. A very considerable saving would be effected were this proposal put into operation, and there seems every probability that it will. It is, however, in the engineering department that the greatest difficulty will be experienced in arriving at a solution. The i.lliees of electrical and samlary engineers must he retained. A section of llie Council now rapports an amalgamation of the Borough engineer's office with that of the electrical engineer. While we bold strongly to the opinion that there is no longer any necessity for retaining a high-salaried Borough engineer, no objection could be taken to the retaining of the office, could an amalgamation be arranged in such manner as

to effect an ctfiiiil. savitif; to the rate, payers. If it were possible to secure tlie services of an engineer capable of tilting charge of the borougli ami eleelrieal engineering olliees, at a reasonable salary, the Council would be fully juslilied in merging the dual olliees. If, however, it is considered (here would be dilliculty in tilling such a position, the only course open is to dispense willi the olliee of borough engineer altogether, ami employ a fore- . man capable of superintending the ' ordinary work of keeping the various : borough works and streets in repair. '. Judging from the discussion at the i last Council meeting, it. seems almost l certain that retrenchment will be ! effected (:i) by appointing the Town ] Clerk borougli solicitor for ordinary legal work ; and (b) either by dispeus- , iug wii.li the olliee of borough engineer 1 or amalgamating it with that of the' 1 electrical department. 1