THE Evening Star. PUBLISHED DAILY AT FOUR O'CLOCK P.M. Resurrexi. WEDNESDAY, OCTOBER 15, 1879.

Thames Star, Volume X, Issue 3374, 15 October 1879, Page 2

THE Evening Star. PUBLISHED DAILY AT FOUR O'CLOCK P.M. Resurrexi. WEDNESDAY, OCTOBER 15, 1879.

The Financial Statement ha 3 been delivered, and a* opportunity has been afforded the new Colonial Treasurer to place the affairs of the colony before the House, and to make the startling revelations which a rummage of the official pigeon-holes was said to supply the material for, and the threat of which has been held over the heads of the late Ministry for the last few days, "We must admit to a feeling of disappointment. The treat we have been looking forward to has been withheld, and the pleasure most feel in being able to discuss scandals is not afforded us in this matter of a Financial Statement. The simple result seems to be—the late Government spent more money than was allowed them to carry on the business of the country, and did not collect as much as they stated they would be able to do. In round numbers Major Atkinson says the deficit to be made up this year will amount to £663,000, and wishes it to be inferred that it was owing to the bad management of the late Government that such a sum is short. Now there are many reasons' why a deficit might have been anticipated. In the first place the Government were unable to realise on the Waimate Plains, from which many thousands were expected—in fact, over this very item, a large expenditure was occasioned instead. The Land Tax Eevenue in the next place has not yet come to hand; and again, when Sir George Grey took office his predecessors left him a legacy of £400,000 overdrawn at the Bank, as against Treasury bills. It will be remembeivd that the late Premier stated in the House that unless the £4,000,000 loan was granted him he would be unable to repay the above-mentioned £400,000, and notwithstanding their knowledge of the fact the Opposition cut down the loan to £2,500,000. We are not surprised that the amount of the deficiency is £663,853, but are thatitisnot more, when the circumstances of the colony are taken into account. The blame thrown upon the late Ministry for having drawn to a large extent against the loan at present being negotiated falls harmless, for every Government has done so in the past, and with the almost certainty that it would be freely subscribed for, the course can be justified. We are only sorry that so little of the £2,000,000, said to be hypothecated for public works, has been allocated to this part of the island ; but there is yet time to settle accounts if the Auckland members attend to their interests. We shall again refer to the details of the statement.