GOVERNMENT LIFE ASSURANCE.

Tuapeka Times, Volume III, Issue 152, 5 January 1871, Page 7

GOVERNMENT LIFE ASSURANCE.

A MEANS OJ? RAISING THE WIND.

Our readers are fully aware that the public debt of New Zealand already approaches eight millions and that Parliament has agreed to augment this little sum by ten additional millions, to be spent, we are promised, reproduetively. But little notice has been taken of another debt, designed by Government to go on silently accruing, and which it was perhaps thought would escape notice. That " clever financier " the Colonial Treasurer, has introduced a system of Government Life Assurance, which, however commendable Life Assurance may be, and great the advantage of placing it under the direction of Government instead of leaving it in pi'ivate hands, as managed in New Zealand is simply a means of raising money — of increasing the present revenue of the colony at the expense of our children. The premiums received are subject to appropriation by Pai-liament, and no provision is made to meet future liabilities out of present receipts. All the money obtained will be absorbed into revenue, and the charges hereafter to, arise will have to be defrayed by Parliamentary votes. A more objectionable, methyl" of Government raising money a*. ' :'r> the ];üblic debt couj-l no' 1. - vv»u < •<■ ; , -Hid i!" ny gf>' • ■r\.. • succKssiai, v rj'- veiy 1 iiit' -/ '■•• -i.se the colony's liabilities. -- „ . '(■ ■: -.pondent's letter.