THE HON. J. G. WARD AT AUCKLAND.

Temuka Leader, Issue 2750, 13 December 1894, Page 4

THE HON. J. G. WARD AT AUCKLAND.

Auckland, December 10. The Hon. J. G. Ward, the Colonial Treasurer, addressed a meeting of citizens, in the City Hall, the Mayor, Mr J. J. Holland, presiding.' There was a crowded attendance. , Mr Ward, who on coming forward was cordially received, ‘ after thanking the audience for their cordial reception, congratulated them on the opening of the Rotorua Railway, which would bring crowds of Southern tourists to their city and province. He had come to speak at Auckland because he believed it tp.be the duty of Ministers to' speak at various centres. THE GOVERNMENT POLICY., Their policy was misrepresented by the Opposition members and press, and required explanation as a section of the press and of men could see no good in the Government. Their motto was “ No good thing cometh out of Nazareth.” The chief point of attack was that ' the Government increased their burdens, and was going on a borrowing policy for a sum which was given variously at six millions to" twelve millions. But the opponents of the- Government ignored the purposes for which the moneys were provided. He could demonstrate without glamour that the moneys would be used in assisting settlers to settle on the land at lower rates of interest than they were now paying. Beyond question, not one shilling of extra taxation was required from their financial policy, and the financial position of the colony was never sounder. | Their only trouble was the lowness of the prices' for products. He could not understand the opposition to the aid’of settlers. 'The property most valuable to New Zealand was population,and vested interests should not stand in the way of cheap money to intending settlers. No time had been lost in bringing the Advances to Settlers Act into force. He quoted an elaborate series of figures to show that the saving in interest to settlers would be enormous, the expenses of working would be moderate, and the margin ample. If*' fair valuation was made at first there would be £6,650,000 represented by cash and land, as against the loan of three millions; yet the opponents of the Government asked them to regard this operation as in the category of some of the wild-cat proposals of the past for political railways and other works' which they professed were in th£ interests of the country. They said nothing about the proposal of the present leader of the Opposition to borrow twenty millions in one lump. It Wassaid private individuals would' lower the rate of interest. That was what the Ministry Wanted, and they did not care by whom or where it was done. (Cheers). He confidently left to prosperity the verdict upon their cheap money scheme. Some remarks about the bed rock values of land, made by. him, had been misunderstood. If values were low, after Careful valuation, the values must be the bed rock. Land should be valued upon what it would produce. If land values were not now at the bed rock, with the low prices of agricultural produce and wool, then the bottom was going to fall out of New Zealand. (Laughter.) He then alluded to the scope of the Land for Settlehlents Act, the Lands Improvement, the Native Lands Acquisition, and the Native Lands Purchase Acts, which were regarded as their borrowing proposals. As to the last measure, active steps were being taken to acquire lands in Auckland, Hawke’s Bay, and on the East Coast, which would yield at least 5 per cent. (Cheers). They had purchased 1,000,000 acres, or one-eighth of the Native estate, since taking office, while their predecessors had got 73,000 acres. He would now take the two million Bank of New Zealand guarantee. Who would deny that this guarantee was not given to avert a national disaster? That it did avert one was beyond question, and if it had cost the colony the whole two millions to prevent such disastrous results as overtook Victoria it would have been cheap. In his opinion had it cost them three times two millions it would have been cheap. Whereas it had not cost the colony £l. They did not want to lock the door after the steed was stolen. This guarantee was coolly included in the borrowing policy of the Government, He regretted that the shareholders of the bank had to pay a call, but the fact that the President and Auditor reported to the Government that it was desirable gave the Government no other option than to consent. He believed the course followed by the Directors Was a judicious one and in the best interests of the bank, and the extinguishing of the heavy rate of interest payable on the Assets Company’s debentures must conduce to the prosperity and stability of the bank. He felt confident they did the best in a grave emergency, and he shared the hope of all well-wishers of the colony that the future may bo brighter and better for that institution than the past had been. He believed and hoped that it would be. He then alluded to the new system of -<«olg and the Savings Banks, which Col '-, „ * and written about as adding was talkeu . j view which to the burdens oi„ %* vl(wirig tbo ; was wholly erroneous. ’ burdens the Government were sa,. have added to those upon the people, he believed that upon everyone of them, 'excepting the bank guarantee and laud 1 improvements, a higher rate of interest was obtained than they gave. Notone ! pound was for political railways or public works. Every pound of if., except the consols and the bank guarantee, was for the settlement, development, and acquisition of lauds. Not a shilling extra of ‘taxation was necessary to provide for fresh interest. (Cheers). On the contrary, there was a very large credit margin. By this policy they would infuso life, hope, spirit, and buoyancy into the country, THE PUBLIC DEBT. He did not deny that the public debt had increased, but the assets also had increased. There was the Cheviot purchase, the Native Land purchase, the advances to local bodies, «tc. The conversion operations were then described, which he claimed would save in forty years £2,085,800. It was gratifying to them that New Zealand stocks maintain a strong position. THE colony’s BALANCE-SHEET. Referring to the National Association’s complaints as to the way in which the colony’s balance-sheet was made up, he said the New Zealand Treasurer’s Budget was drawn up exactly on the lines of the balance-sheet of a public company. THE CHEVIOT ESTATE. With regard to the Cheviot estate he gave the improvements made in twelve months, and stated that the actual money received from the estate was £50,510, and the expenditure £11,430. THE DEPRESSION. He then referred to the state of trade, of which complaint was made. The Government could not regulate the markets, but they had doue their boat to developo products and industries and to open fresh markets. If they had remained inactive things would have been much worse. The demand of foreign countries would always

rdgiilate prices, anil lowered values was the principal cause of the depression, progress op the colony. Referring'to tho, question lof whether the colony had progressed or retrogressed, he quoted the returns of the Post and Telegraph Department to show that progress was steady and. continuous. As to railways, the development of the conntry demanded progressive administration; the freights must be lowered, and pro-' ' ducers at' a distance from ports should receive more consideration. (Cheers). The life blood of the colony lay in |ihe success of the producers. The nearness of most wheat and meat producing countries to the consuming markets! of the world placed New, Zealanders at a disadvantage. If the railways were hot used to stimulate the country, how could the towns be prosperous ? MINING. Mr Cadman would shortly be in Auckland in regard to certain mining pro-, posals, and he hoped the' Aucklanders would avail themselves of the proposals which would be submitted by him, as Mr Cadman was well acquainted with their requirements in the mining districts. : SAMOA., . ' He had now to allude to the attitude of the Ministry with regard to Samoa. They were perfectly sincere in their proposals. If the Government had been treated with ridicule and disrespect, then it was not they but the people of New Zealand who were so treated, /fie desired to speak of the Secretary of State with respect, but that high official should have ascertained the facts before speaking or taking action, and not have been influenced simply by statements in a newspaper. NEXT SESSION. Alluding to, next session’s work, he outlined some of the questions to be dealt with—local government, adjustment of tariffs, revision of licensing laws, and old age pensions. In conclusion, he said he was confident the Government were animated with a desire *to further the interests of the country. . Those opposed to the Government should not be ungenerous, but credit the Government with equal motives of loyalty and desire for national prosperity. They should think for themselves fairly and impartially Of the aims and objects of the Government, and believe it deserving of support and confidence. Chickenhearted pessimistic men were not war ted at the head of the State. Courage, vigor, and determination were never more essential than now. By these qualities, aided by cheap money, feheap' freights, cheap land, the developmental commerce and vigorous land settlement, so surely as the stars of Heaven shone so surely would the colony rise and rise, until prosperity pushed every trace or semblance of Solpressed times aside. Mr Ward concluded a spech of over two hours’ duration timid cheers. It was moved by Mr R. M. Hall, and seconded by Mr Wilding—“ That this meeting thanks the Hon. the Colonial Treasurer for coming to Auckland and delivering the able address just heard, and expresses its hearty approval of the general policy of the present Government.” The resolution,was carried unanimously with farther cheering. >