The Westport Times AND CHARLESTON ARGUS. In the cause of Truth and Justice we strive. TUESDAY, APRIL 18, 1871.

Westport Times, Volume V, Issue 803, 18 April 1871, Page 2

The Westport Times AND CHARLESTON ARGUS. In the cause of Truth and Justice we strive. TUESDAY, APRIL 18, 1871.

• <Tiie Colonial Treasurer is at present on a visit to the mother country for the purpose of entering into arrangements which will add £10,000,000 to the public debt of the colony. Large as the sum undoubtedly is, there can be no question that it will be forthcoming if a guarantee can bo given to capitalists that will ■satisfy them as to the security of the investment, and that they will get their interest. Practically our borrowing powers are limited only by the value of the security we have to offer, and provided that is satisfactory, i 1; matters but little to our public creditors whether the taxation such a burden must entail will involve our ruin as a community, or whether the immense sum

will bo squandered or beneficially expended. The main question for the people to consider is what will be the immediate result of this intended addition to the liabilities of the colony. We published recently a table showing the population, expenditure, and rate of taxation per head of the chief colonial dependencies of the British Crown. India was not included in the table, as the immense population and rosources of that possession would not admit of any comparison being instituted with other colonies. The figures then given were for the year 1868, and they shewed that of fourteen colonies of Great Britain, Ne\vZealand,in proportion to her population, had by far the largest expenditure. While this colony is spending at the rate £lO 16s 10jd annually per head, the Dominion of Canada shows an expenditure of 14s 4fd, and the expenditure of Great Britain, per head of the population, is £2 3s. Another alarming feature in connection with our expenditure is that, though increasing, the revenue exhibits a serious deficiency. Mr Stafford, in his address to the Timaru electors, estimated the expenditure at £290,000 above the estimated revenue, and, the estimate of the revenue having prove d excessive, he feared that there would be a further deficiency of about £90,000. Is it not madness, therefore, with our large indebtedness, and our means of late years so greatly impaired, to seek to impose additional obligations? Our present condition may justly give rise to grave apprehension. The debt of the Colony already exceeds seven millions sterling, or about £3O per head of population; and the interest and sinking fund upon this sum has to be provided t for in addition to the ordinary requirements of the public service out of a decreasing revenue. What must be the result in a few years with the continuance of a lavish and ever increasing expenditure added to the iinimmense liabilities which Mr Vogel's financial scheme would entail ? With such a prospect New Zealand cannot hope to enter into successful competition with other colonies as a field for desirable immigration.