Wairarapa Daily Times. [Established 1874.] TUESDAY, MARCH 12, 1895. THE TIMES ON NEW ZEALAND FINANCE.

Wairarapa Daily Times, Volume XVI, Issue 4973, 12 March 1895, Page 2

Wairarapa Daily Times. [Established 1874.] TUESDAY, MARCH 12, 1895. THE TIMES ON NEW ZEALAND FINANCE.

The finances of New Zealand, formed the principal topic of the weekly article on " The Colonies," in The Times of the 15th January. The Thunderer has misgivings about the success of the Advances to Seftlers Act, Tlio attempt to find some scheme of land settlement, which shall include provision for advancing money at reasonable rates of interest, to bona fide settlers, is one which The Times thinks would be watched with the utmost interest, but " apprehension plays a large " part in the emotions with which " each new departure of the present "New Zealand Government is re- " garded in England." Mr Seddon and his party have been told times without number, that their crude financial policy and harrassing State Socialism, is engendering a timid feeling amongst capitalists, hut it has pleased them to disbelieve it, or to deliberately shut their eyes to facts. The statement made by The Times, is but a repetition of the old story, and the effect will bo the same as before. It ft like pouring water through a sieve, to ram facts and figures on the present Ministry, for no impression is made. Ministers aro apparently as indifferent to public opinion, as wooden images, but nevertheless are worshipped as devoutly, by a certain section of the community, as idols are worshipped 1 by heathens. Political idolatory or ;Seddonism, is the creed of the i Liberal cum Labour party The Times takes Ministers to task, in claiming to be a non-borrowing Government, and carrying through Parliament, a huge borrowing pol- • icy. On the financial policy generally, of New Zealand, it says i—" If ." Mr Seddon and his colleagues had | "frankly advocated a borrowing j" policy, less alarm would probably |" have been aroused by the course |" pursued during the last few j ll months. If the schemes upqn ;" which money is to be lavished, " were less experimental in their " nature, more confidence would " naturally be felt, in the soundness " of the investment. The fear which " is spreading in financial circles in " this country, js that the New 1 "Zealand Government, ppnjppsed as ;" it is, of relatively young or inexperienced'men, dpes not fully ." realise the extent of the liabilities " for which it is making, itself responsible.!'; This paragraph in the article, deserves grave consideration,

but Ministers are quite indifferent, and even the valiant Sir Westby Perceval, lias not been put up to give The Times a knock down blow, by burling at it, misleading figures. We may, however, be doing the Government an injustice in accusing them of indifference in this matter, ( for we have to bear in mind, that the Colonial Treasurer has gono to England, with sealed orders, and ■ part of his instructions may bo to " disli" The Times. It makes one curious to know where the Government is obtaining the money, to give effect to the . Budget proposals of last session. How is the six millions loan boing worked; we can account for £2,000,000 to the Bank of New Zealand, and £1,000,000 consols; but how is the balance of the money being obtained p The following sums have still to be accounted

Advances to Settlers ... £1,500,030 Purchase of private lands 250,000 Roads and surreys 250,000 Purchase of Native Lands 250,000

£2,250,000 Perhaps the Hon. J. G, Ward includes in his roving commission, the raisin? of this sum, or it may be, this is to carried over, and added to the big borrowing policy with which ministers intend to meet Parliament. Wo have already a hint of this, for wo are told, that the question of the unemployed, is to receive the urgent attention of the Govornment. Unemployed can be relieved only by giving them employment, and payinqr fch em f 01 > the work they do; this means monoy, and as the Treasury is empty, the gold must he borrowed. A great Public Works policy, eclipsing anything projected by the great Sir Julius Vogel will, we belie ve, be the trump card of the Liberal Party, this session. Then will be a time of high-jinks for the co-operative labourers, and numbers of Ministerial mummers.