The Waikato Times. "OMNE SOLUM FORTI PATRIA." SATURDAY, JANUARY 10, 1874.

Waikato Times, 10 January 1874, Page 2

The Waikato Times. "OMNE SOLUM FORTI PATRIA." SATURDAY, JANUARY 10, 1874.

The Jlou. Mr Vogel availed himself of the opportunity afforded him by the banquet given in his honor in Dunedin to dulher a supplementary financial statement. After the great difference of opinion that existed daring the last session as to what the li.bihty of <he oolouy really was, the statement of the Pieniier cannot fail to prove intere&ting to til! who take the trouble to probe beneath the outer coat of gilt with which it has been the habit of our present Treasurer to cover all defects. In round numbers the indebtedness and liabilities uf the colony on the 30th June last were £13,8t>0,00(). 'Ibis sum, however, includes the Whole of the bix millions authorised to be expended on public works during the last session; also, one million for immigration, £500,000 for purchase of native lands, £200,000 for roads in North Island, and i)o00.000 to be expended on goldfielda. In order to shew that the colony is capable of bearing her rapidly mm easing liability, he pointed out that the revenue has gradually increased from

JJ 17 1,000 ior the tirst six mouths ot L%70 to Jt(JCS,OOO foi tho same period of 1873. The telegraphic summary forwarded does not state how much of this increase is due to increased taxation, and how much to increased commercial activity. In alluding to the proportion of the debt owed by the proviuees (£#,156,000) the Treasurer stated, that although the colony is undoubtedly liable for the amount, no uneasiness need bo felt so long as there was the land revenue of the colony to back it ; we admit the fact, but the figures which follow, shewing the land revenue for the first six months j of each year from 1870, make us fear that the revenue is rapidly coming to an end ; and, so far i ms we can make out, no provision has been made for liquidating the debts in the meantime. The figures given by the Treasurer are : Land revenue for first Bix months of lb7o, £144,000; 1871, i.230,000; 1872, £500,000; 1873, £1,110,000. The fact most not be lost sight of that land revenue is not interest on an investment, but is the result of the iilienation of capital. We have no desire to be understood to hold the opinion that a large increase in land revenue may not be a healthy sign of progress, provided the land has passed into the hands of those who will utilize it ; but on the other hand, if it has passed into those of speculators who purpose holding for increased value, we main, tain that the colony has lost the profit that will be made by the speculators without gaining any benefit except the handling of the leady money; in addition, m all probability good settlers will have been kept out of the mai'ket. If the increased sale of lands means, in an equal ratio, lands under cultivation or fenced, then the increased land revenue is a matter for congratulation. We have no desire to take a jaundiced view of the affairs of the colony, and our only object in making the above remarks is in oider that our readers may understand the question. It is interesting to learn that the Premier estimates the cost of making the trunk lines of railway through both islands at between seven and eight millions. An estimate coming from such a source is more likely to be under than over the mark ; we trust, therefore that those who are agitating for the construction of such lines will see the injustice they are endeavouring to inflict upon the whole colony for the gratification of their selfish desires. Mr Vogel cursorily touched upon the Provincial Loan Bill of last session, and on its summary treatment by the Legislative Council, he declined to explain the views of the Government on the question, and finished his allusion to the subject [ with, to use his own language, " there is great virtue in leaving well alone." We can deduct what meaning we please from his concluding sentence ; for our part, we believe he is much too good a diplomatist to attempt to forco a similar bill through either House. Public opinion was clearly against it j and having in mind the near approach of a general election, those who desire to be re-elected to their seats will be very circumspect during next session. The progress being made with the Public Works policy, and the activity that has been displayed of lato by the Immigration Department in both its home and colonial branches, will justly entitle the Ministry to meet the House next June, and, by way of turning away wrath, to point to the number of works satisfactorily pushed forward, and the number of souls introduced into the colony. With all our burdens, and with all our native drawbacks, we look hopefully forward to the time when this shall become a great colony — perhaps not the first in Australasia, as Mr Vogel said after dinner ; but a colony that shall be justly considered one of the brightest gems in the crown of Great Britain. We are prepared to endorse the opinion of the people of Otago, that much of New Zealand's present piosperity, and much that is to be looked for iv the future, is due to the policy initiated by the Premier.

"We lcaru tliat any public hospitality to b» exercised to-day will be at the personal expense of tbe Hon the Colonial Secretary, I>r Pollen. Much as we may feel it our duty to advocate economy, we cannot by any means consider it true frugality on the part of the Government to omit to do that which 'others who hate taken upon themselTes tho office of contractors have done before them. We should not consider the matter worthy of notice were it not that the omission of tbe Government is likely to be used to the detriment of the settlers in this district. They feel the importance of the ereDt to take place to-day, and had they received due notice, would have been careful to havo provided tha best b.inquet procurable (at their own expense), and have invited the different Government officials to join them. We dcsii'o it to be distinctly understood that our settlers ha\e not had tune allowed them to act iv the matter. I We are in formed, says tbe Timex^ that Mr M. Hallenstcin, tho Melbourne partner of the firm which is largely engaged in commercial pursuits both in Victoria and New Zealand, bus completed arrangements to start shortly in Duuedin an extensive clothing factory, equal to the largest establishment of a similar nature in Melbourne. The manager, with a complete nnd experienced staff of hand*, will shortly arrive in Dunedm from Melbourne. Mr Hallenttem has also arranged with the Government to bring out a number of srtizans from Home The firm intend to use largely New Zealand made tweeds, thus stimulating in various waya native industry. By the Cromwell pappr, we learn that at Ardgour Station about 16,000 sheep have already been shorn. The manager expects to put through about 50,000 altogether before the end ef the season. Even then there will be a largo number of oheep condemned to wear their wool for another year, as the number of hands necessary to do tho work will hardly be got. The rate of wages is 20s per hundred. Sixteen hands are now employed. At Molvern Hills station, there are twenty-two hands' on, and they havo got through a correspondingly increased number of sheep. Between tho two stations, if the bands could be got, it is estimated that 1 10,000 sheep altogether could bo shorn. We are glad to observe that a meeting of farmers and settlers is called for Tuesday next at Hamilton, the object being combination for the purpose of procuring such agricultural implements and machinery as would be beyond tie meant of any individual to purchase. The movement is m the right direction, and we trust that the initiators will meet with tbe cordial co-operation of their brother settlers: We reprct to state that the p s. Wwpa got snagged near Rnngiriri on her passage up" from Mercer. She hod a good deal of cargo on board for the different settlements ; unfortunately she has sunk, but in very shallow water, so that little damage to her freight is anticipated. The p.s. Waikato has gone down to take her cargo and deliver it at its destination. It is purposed to hold the following religious services in the Waikato to-morrow : Church of England — Alexandra, 11 a.m. j Cambridge, 11 n.m. ; Hamilton, 630 p.m. ; Ngaruawahia, 11 a.m. ; To Awauiutu, 3 p.m. Catholic — Cambridge, 11 a.m. Preshytorian — Cambridge, 11 n.m. ; Ngaruawahia, 7 p.m. United Presbyterian and Congi egational — Kihikihi, 8p m. Weslevan Methodist— Te Awamutu, 11 a.in. ; Pnkenmu, 'A p.m. ; Cambridge, 630 p.m. It will he seen by advertisement in another column that a race meeting will bo held at Papakura on the 29th inst. The. programme is a good one, and a large number ol tho lovers of sport will doubtlesi attend. Entries must be made by 8 p.m. on tho 26th January. Tho mails for the United Kingdom, America, &c, will close in Auckland on Thursday, the 15th inst, at 10.30 a.m., it will bo necessary, therefore, to post letters and papers in tho Waikuto in time for conveyance to Auckland by Tuesday's coacb. Wo have to acknowledge, with tltnnks, the receipt from the Government printer of the first volumo of tho Appendix to the Journals of the House ofltppvesentatives for 1873. Soventy moro men of the working militia landed yciterdty at Taupiri uader the coinmond of Captain Rowe.

T\> b.iks of .... ri'Jmfi- were shipped home fiuin tin- Mosrhl MilJjcSiffiMin, bythe ship J. M. Fleming. It « !i 3 ordered bv a iii m old iuagc « . This la truly reversing the oidcr of commercial ulluiis Mr John Knox will hold un unreserved sale of Messr3 H. and X Lano'd h\o and dead utucl , b> order of the Shoriff, tlu> J.it, tit 1 o'clock, at JLunillon It will be Been b) advertisement that the time for Bending in tenders for tho erection of 11 [lost mid telegraph office tt Hamilton expires on Mouda\. A meeting of tho members of the Agricultural it ssouuilion will be held at Hamilton oa Tuesday next Ht 2 o'clock.