The Wairarapa Daily. THURSDAY, SEPTEMBER 18, 1884. THE FINANCIAL STATEMENT.

Wairarapa Daily Times, Volume 6, Issue 1791, 18 September 1884, Page 2

The Wairarapa Daily. THURSDAY, SEPTEMBER 18, 1884. THE FINANCIAL STATEMENT.

The Stout-Vogel Ministry will survive the Session. The financial Statement has settled this point. The essential features of it are, (1), the amount of borrowing proposed, and (2), the sacrifice of the sinking fund on loans to relieve the revenue. Thu proposals under the first head are so reasonable that the moderato men in the House can accept tli6tn, and Sir Julius Vogel's arguments in favor of relieving the colony of paying periodical charges for sinking fund are almost incontrovertible. To be borrowing money and paying it back simultaneously is an anomaly, and if Sir Julius Yogel can, by his proposals lighten the burdens which press so heavily on the country; by all means let him do so. What has posterity done for us that we should leave behind us a valuable railway estate clear of all encumbrances ? We heartily approve of the proposed reduction in the Property Tax, and we have more faith in Sir Julius Vogel putting local bodies on a proper footing than we have in Major Atkinson. The Colony will be with Sir Julius Vogel in his proposals, and no doubt tho House will back them. We do not ondoise all his plans, and question whether he is not over estimating tho value of the North Island Trunk Kailway, and the benefits to be derived from a sugar industry, but taken as a whole, his financial proposals meet tue need of the colony and deserve the hearty support of the community. Major Atkinson has been houostly striving for years to fit the back of the colony to the burden it has had to carry and has failed, Wo welcome Sir Julius Vogel's policy of fitting the burden to the back.