TELEGRAPHIC. (From the Daily Southern Cross.)

Waikato Times, 8 January 1874, Page 2

TELEGRAPHIC. (From the Daily Southern Cross.)

Napier, Tuesday. An important sale of Cotswold rams and Shorthorn cattle will take pluco at Oukburn Stution, WulhngWd, on Februwj 6. The annual ram fair will bo held at Huveloclc on Febluary 11. Subscriptions have bren started for the relief of the sufferers by thelat© fire atTareha's pak.

Dunedin, Tuesday. MX VOGEI/S srEUOH AT THL BANQUHT. The banaupt lo the Hon J, Vogel was a great success. His Honor the Superintendent was in the chair, and the Mayor occupicfl tlio vice-chair. The Chairman was supported on tlio right bv hU Expellencv the Governor, on the left bv Mr Vo»el. The eaptam and officers of tlio French warship Vive were present, a« were also most of the leading citizens. In leturning (hanks the Gbrernor mnde a capital speech. He hoped that, in conrae of time he would earn andde-ervo some portion of the lespect which they had pnid to Inn office. He wished to live quietly amoun the colonists, and familian«e himself with tlieii* institutions, feelings, and character-*, rnilu-r than puss through cities in what might be willed " btuteU piojiresi." Ho spoke in high terms of the abilities of Mr Vo el. nnrt «»iid he Wad been struck with the vast reß.mrues oi the province. llh spoke in favour of the university ami public schools. The gaol was not what it ought to be. He ltiipremed upon them the ueocaaifcy of u reformttorv. The Cbairman proposed the health of Ihe Hon J. Vogel in a good speech, lie dwelt upon Mr Voxel's career with great ininuteim<*-», nnd informed the company that £500 had been snb'cnhecl with whu-h it won intended to purchase a pieeeof plute hh a testimonial. Mr Vogel expressed hn tlmnts for the splendid demoni.trntioa" t and said that he was greatly gratified at receiving 'uch approval from the place, in which he commenced his political career. After reforrins! at some length to the educational and other institutions of the province, he asked the meeting to allow him to enter upon some matters which were most important — iwt only to Dunedin but to the colony. He complained that there had been much misrepresenUtien mto the indebtedness of the colony— so many statements had been hazarded as to what might or would be the indebtedness of New Zetland in cei'iin circumstances ; that the imprison ha.l grown in somu ijnurters that we did not actually know »hit wus fie iimouut of our dobtj but if fliffepeiit pemous dualt with different conditions the result* | would, of com si', nut agree I'lie absolute position of the I finances of tlio colony was easily explained On the 30th June la«ttb« amount 'of colonial and provincial indebtedness, nfter deduct nut tlie HucruuJ oiuking fund, was £9,622,000, of whicli £3,lG(),000 wiw proxincial. Although it was quite true that tho colouy was lublo for the provinces indebtodness, that debt w-is secured upon the land revenue of the colony wLot he atntrd ihiit thn land revenue from Ist July, 1862, 'o 20th Peeember, 1873, exclusive of gold and native, amounted to £1,370,000, it would be heon that the provincial iudobrcdneh^ n-jed not be regarded ft< a very serious 1 übilitj, «a long ua it liovl at its back the laud rete <«« of t!ie (oionv There leniamel to bo negotiated on the 30th June l.ibl, Ji2,31",0 '0 of authorised loans, ranking with thenmonnt ftnted, £11,974,000. There must be added £1,886,000, required to complete the railways authomed up to June, 1872, thus making & total of £13,660,000, which would be the debt when all those rnHwsv*, namely 767 miles were completed, when £1,000,000 had been apent upon immigrttion, £200,000 upon native lands, £400,000 upon roads in the North Island, and £:jOO,OOO upon coldficlcU works. Then the debt would amount to £13,860,000 but that was not in reality our prevent debt. The amount thin itntort included £6,000,000 for public works, of which, on the 30th June latt, only about £2,000,0u0 had been expended. Neither did theie figures include the coit of tho mlwa>» authorised last »et«ion. It wn *b«urd to iuppo»e that a. trunk line through each island

could bo oinplotad for Uo or thrvu million pounds. Such lines would cost not loss thm b< yon or eight millions. Io uhosr our ability to nidct iirr a oi liabilities, be woull ■Utetho amount of the r^enue t,>r th« si\ months rnding December for the years 1870, 1871, 1872, and 1873. It wwin 1870 £474.000 ; 1871, £lStf,ooo ; 1872, £194,000; 187 ? £625,000. Thus, durnii: the hrat hull of the present finnncial your, tliero was an mctvma over the corros londini? pnrm.l of 1872 3 of £131,000, or equal to an annual inc< .->Me of £^02,000, If tlien, the public debt was more ißing, our iuca-.i of meeting it wero aUo iucrensim;. Tlio Iwd i\ venuo showed eTen moi-e extraordinary progress. In 1870 it amounted to £114,100; 1871, £230,000; 1872, ball a million ; and 1873, £1,116.000- 'i'»»» receipts last ye.vr vwe in fiot mofrt than. thO3fl of.tbo previous three year*, ilr Vot^l ttien referred to the upewli he had made during last «3»!on, which wns reported in JLinsard, in which ho showed t <i: tne percentage of tho buntea of tue public debt, cam'j.id with the »rora»o oirninx* ol the people, was not i, iv, especially when it wax considered that the indcbt»d I..' i of New 2ealand reprpientod, not only tin ordinary public debt, but it was a debt including the m >et of moneys otpended oa public wofki, und part of which wns aecured by *n immense landed estate. He contended thnt the only truo teat of the burden of a public debt was the manner m which it pressed upon tbo earnings of the community. He then dlated upon the importunco of immigration He urgfd that the Agent-General had had a great rainy difficulties to contend with, and that an absent man shouM receive every consideration Ho (Mr Vogol) hoped that tho new extern would work well. In October, the nominations were. 1130, m November 2223, while apart return for December 2339. It mi^ht be depen led upon that the Government attached the very greatest importance to the successful prosocution of immigration After explaining the diftuniUins in the way of organising a largo department like that of Public Works, and its wide difhision, tho hon. gentleman Ktibmitted tho following statement showing the progress of public works throughout tho colony:— Kaipara to Kiverhead, 17 miles under contract. River'hcad to Auckland, 24 miles, surveys prepaied for contract. Auckland to Onohunga, open and nearly completed. Auckland to Mercer, 46 miles, under contract, Napier to Pakipnki, 18 mile*, under contract. Pakipnki to Waipara, and Waipara to WaipHlurnu, 27 miles, under contract in part. The rest would bo contracted for next month. Waittira to New Plymouth, 11 mile*, under contract ; Wan garni i to Manawfttu, 58 miles » Wellington to Upper Hutt, 14 miles, under contract; Upper Hutt to Featherston, 25 miles, surreys being prepared for contract ; Nelson to Foxhill, 13 miles, under contract, and H miles ready for contract; Picton to Blenheim, 17 miles, under contract; Brunner to Greymouth, 7 miles, under contract. North of Chnttohurch Addington to Rangiora, 19 miles open ; Rangiova to Kowni, under contract. South of Chnstchurch — Selwyn lo I'akain, 13 miles, open ; Rakaia to Ashbur'on, 18 miles, under contract ; Ashburton to Temuka, 32 miles, advertised for contract ; Temuka to Timnru, 9 miles, under contract ; Timaru to Waitaki, 41 miles, surveys lor contracts being prepared ; Rangiora to Oxford, 7 miles, and 14 miles undor oontract ; Kaiapoi to Eyivtown, 14 miles, surveys for contract prepared ; Ilolleston to Malvern, 35 mile?, undpr contract; Rolle'ton to South Br.dge, 34 miles under contract ; "Waikara Bridge, tenders called 1 for completion in 18 months ; Waitaki to Moeraki, 39 miles, under contract; Moeraki to Dunedm, 52 miles, tho surveys for the contract being prepared; Bunedm to Clutha, 51 miles, under contract ; Port Cbalmers to Dunedin, 9 miles, open ; Clutha to Mataura, 50 niilfs of survey for contracts being prepared ; Mataura to Invercargill, 40 miles, under contract ; Oamaru to Waireka, preliminary surveys only; Waipaha to Cromwell, preliminary fcur\e»B only; Tokomainro to Lawrence-, 22 miles, under contrnct; Dunedm to Kingston, 70 miles, 21 milei under contract. The plans were ready for calling for tenders for tins balance. Mr Yo»cl next spoke of the progress of the meubiires such as the establishing oi *he Government Annuities and (he Insurance Department of the Land Transfer Department, and the Office of Public Imst On the question of provincial borrowing he spoke as follows -.—You are aware that, one of the most difficult question! we had to deal with last session— and here I know lam treading on delicate ground— » a* tiiat of provincial borrowing. I date say it would be very interesting to many now present; and to many in other part 3 of the colony ; also, if I were mble to indicate precisely the opinion ot the Governn oit upon the manner in whioh this question should be deult with hereafter. But I am not going to do anything of tho kind. 1 should only s»J that I think there is gieat virtue in the old doctrine of cleaving well alone," und Unit 1 think a great deal of attent on should be paid to the representations which are made than by unduly forcing forward the prosecution of public wonts. llu-re is the liability in interfering with private enterprise of tho absorption of too much of the labour which should be available for the prosecution of that enterprise. I think it is worthy of consideration that it will be well when those largo works of which th* colony has charge ure being brought to a close, and a certain amount of labour is, consequently, difpngagrd, that there should be other works ready to bo proceeded with, so as to tnko up that disengaged labour. It is well, too, that we should recollect that whatever may be the intrinsic credit of the conutry or the colony, that credit is liable to bo destroyed bv questions wholly outside the score and influence of the country or colon} concerned. We bhould recollect that this colony has assumed very large responsibilities, which it has the right to desire to »cc carried out before increasing or exhausting them. But even admitting or recognising all these considerations, I by no means desire you should understand it to be my opinion that we should Iny down an arhitary rule by which to deny to places interested, the construction of works winch their own local conditions render imperatively necessary ; I have wished rnewly to impress upon you that, m coming to a decision upon the question, the Government will be go,ided by conservative considerations." Mr Vo^'d next proceeded at great lentil to compare the results of the land laws in Canterbury and Otago, showing that statistic* from every quarter evince the grfatest possible advantage in favour of the Canterbury system. He considered that the question which was at present of the most importance to the colony, wn« as to tho conservation of the exiting forests and planting of forests for tho future. He d«elt upon the extravagant wastefulness of the mode in which our iorests were destroyed rather than used, and upon the fact that much of the timber really used was so dualt *-ith as nob to aecuie a just reputation for New Zealan I woods The matter generally demanded urgent attention, and the Government would be bound to de.il with it. Another question of very great importance to New Zealand was a3 to thu svbsorption of tbe trade of the South Sea Islands. He considered that this colony was naturally »uited to absorb that trade, and while not at liberty to indicate possible proposals, he believed that Parliament must at no distant date take the question in hand. That trade would not only bring an immense commerce to our shores, but it would make New Zenland » large manufacturing country. In conclusion the hon gentleman declared that it had for a long whils past been to him an object of aspiration to have an humble share in raising this to the position of the first colony of Auitralasia.