The Temuka Leader. THURSDAY, JULY 23, 1885. THE POLITICAL SITUATION.

Temuka Leader, Issue 1369, 23 July 1885, Page 2

The Temuka Leader. THURSDAY, JULY 23, 1885. THE POLITICAL SITUATION.

Ugly rumors are afloat to the effect that it is the intention of the Government to resort to a bit of log-rolling to keep its party together. It will be remembered that last year Sir Julius Vogel made for each district a little job. The West Coast members be enthralled by giving them harbors, and the North Canterbury, West Coast and Nelson members by the East and West Coaat railway. North Island members were bound to him on account of the North Island Trunk Line, members from various parts of the colony by the purchase of district railways, and Auckland members by the South Sea Islands trade. Ail these jobs he kept dangling before their eyes, and be made it a condition that the whole or none of these should pass. He insisted that if a member wanted to get the district railway in which he was interested purchased be must assist in passing other measures, so that those who had an interest in the other measures m : ght assist him, sod by that means be secured the votes of a majority of the House. If the rumors which have reached us from Wellington be true something of the same kind is to be done now. It is said that Sir Julios Vogel bad closeted with him on last Monday, Canterbury, West Coast, and Nelson members, for the purpose of discussing a message from England to the effect that the loan to construct the East and West Coast railway could not be floated unless the (State gave its guarantee. It will be remembered that delegates went Home some time ago for the purpose of floating a loan to construct this line, and it is said that these have now cabled from

London to the effect that without the tfuarnntee of the State they cannot pns sihly succeed, and rumor has it that Sir Julius Yoeffl has promised to introduce a measure binding the Government to par 2£ per cent, on this loan. By doing bo he expects to get the block vote of the Canterbury, West Coast and Nelson members. Another job is the Pan Francisco Mail subsidy. The majoiity of members—and undoubtedly the country —are against renewing this, but it would be a great loss to Auckland, and consequently Auckland members must fight for it. The Government propose to renew this subsidy and thus buy the Auckland block rote. They will make the passing of the San Francisco mail subsidy contingent on the passing of the West Coast railway guarantee, and vice versa , and thus secure a majority. This is he rumor which special correspondents have telegraphed from Wellington, and, if true, it mast be admitted that it betrays a very sad state of affairs. Under the provisions of the Act passed last session any Company which may undertake the construction of the West Coast line will get £SO worth of land for every £IOO the line may cost to construct ; that is, if the line costs £1,000,000 the Company will get £50,000 worth of Crown Lands, Now this ought to be enough, and yet we are told that tbe colony will be called upon to guarantee to the shareholders 2£ per cent, interest. It would be far better for the Government ‘.o construct tbe railway at once than do this. As regards the ban Francisco mail service, the necessity for it is gone and it is nothing short of a disgraceful waste of money to subsidise it again. But tbe present Government desire to retain office, and if they can do so by logrolling such as this, there can be little doubt but that they will do it. However, we do not feel disposed to greatly blame them. Last year they resorted to logrolling and corruption, and they had an overwhelming majority ; this year they came before Parliament with an honest policy, and they found themselves in a minority. What can they do? Honesty will not suit the House of Representatives ; each district wants to get something for itself, and any Government that wants to retain office must resort to log-rolling to do so. The country has supplied them with tools to work with, and if these tools are not of the right sort the Government cannot help it. The fact is, politics in this colony have r eached the very apex of corruption. Mr Postletbwaite very accurately and appropriately put it when he said it was merely “ A game of grab.” In the present state of affairs sound legislation is hopeless, and it will remain so until the electorates are enlarged, and glibtongued fools give place to commonsense practical politicians. The constituencies 0100 l momtc.ro on condition that they get something for their districts, and members in order to secure this something force Government to resort to corruption and log-rolling. The whole colony is demoralised, corruption is rampant, and tbe only cure for it is to revert back again to Provincialism. The old provincial jealousies are at the root of it all, and though it is with reluctance we say it, we cannot help thinking that we shall never have a happy prosperous colony uniil the Act by which the provinces were abolished is repealed. [Since writing the above Sir Julius Yogel has made an announcement to the House to the effect that the Government would ask the State to guarantee intereet to any Company which may construct the line. A resume of liis statement will be found in another column.]

CHEAP MONEY. The following are the arguments which Mr Macandrew proposes to lay before the Committee appointed to consider the advisability of giving Cheap Money to farmers : “ ( 1) Cue of the chief drawbacks to the full and successful development of the agricultural and pastoral resources of New Zealand by men of limited means is the high rate of interest on mortgage, and the extent of which such interest is withdrawn from the colony by (he absentee mortgagees. (2) Great benefits have resalted in various countries arising out of loan advances by State on the security of land. f 3) Without risk of loss to the State the public cr dit in New Zealand might, with advantage, be applied to works enabling settlers, on the security of their lands, to acquire advances at a comparatively low rate ot interest. Such advances might be made through the Land Transfer Department in sums not exceeding, say, £2OOO to any one individual for any period not exceeding, say, 10 years, the rate of interest to be, say. 4 per cent, per annum, the amount of such advance not to exceed, say, two-thirds of the value as fixed under the Property Assessment Act ; the mortgagees to be entitled to cancel the mortgage at any time on the payment of the principal and interest to the date of cancellation. (4) The amount advanced shall be on New Zealand Government notes, which notes shall be legal tender throughout the colony, and convertible at any time at the Colonial Treasurer’s option into Government debentures of not less than say £ — each, bearing interest at the rata of 4 per cent, per annum, with a currency of years, the principal and interest to be payable either at the Colonial Treasuiy cr the Bank ef England.” This, taken with Mr Bathgate’s Bank of Issue, amounts to a State Bank for advancing money to farmers. W ■ >liali take an early opportunily ot discussing the subject thoroughly.