The Waikato Times. THURSDAY, MAY 1, 1879.

Waikato Times, Volume XIII, Issue 1069, 1 May 1879, Page 2

The Waikato Times.

THURSDAY, MAY 1, 1879.

Equal and exact justice to all men, Of whatever state or persuasion, religious 1 or political. Here shall the Press the Pkopie's right maintain, Unawed by influence and tinbrlbed by gain.

Tub proposal to raise a hew loan of four millions for the purpose of carrying on the Public Works scheme of the 'colony appears to have been received favorably m the South. It has- indeed been very generally admitted to be a matter for regret by both parties that the Opposition m the Assembly succeeded m crippling the present Government, by reducing the amount authorised lo be raised on the last occasion, and this feeling was very strongly expressed at the time when it became known how much larger were the applications for debentures than the issue provided, and how favorable to the colony were the terms on which the money was being raised. So long as money is borrowed, for purely reproductive pui> poses, and wisely and economically spent, the time 1 is far distant when we need fear that the pressure of the liability^ incurred will be unduly felt by the colonists. The colony h indeed m the position of a large ncglecred estate which requires considerable outlay -m permanent improvements to bring it into a sUteoffull production. Our Was l .c Lands, though counted by millions of acres are, as such, of.no practical value until x*ailways and roads render settlement possible and cause them to be brought into cultivation. And as Public Works proceed, new districts are settled, and settlement m older districts is pushed more rapidly on, so do?.s the power to bear increased taxation grow with increasing liabilities. Individually, as well as collectively, the people of New Zealand of today, who bear the burden of the interest and Sinking Fund of a loan of more ,then twenty one millions sterling, are wealthier and more prosperous then were the people of the colony before this money was raised.

But, as we haye said, money so raised for public purpose to be beneficial to the colony must be expended on reproductive works ; moreover it must be so spent that, by introducing a large population, the burden may be spread over many shoulders. No scheme of public works, unless there be conjoined with it a proportionately extended system of immigration, will be permanently beneficial to settlement, or enable the colonists to bear with ease increasing colonial indebtedness. It seems to us that, m the past, the Government of the Colony has overlooked this point, or, at any rate, not given it the consideration it deserved, and we trust that m the continuance and extension of the Public Works Scheme care will be taken that the labour market of the Colony shall not be thrown out of gear has it has been. The Government must recollect that it is not the labour actually absorbed m Government works that is withdrawn from the mnrket. This expenditure gives increased activity to every branch of industry. The consequence has been that no.t only have Government contracts foe

public works been necessarily higher | than they rnigiit have been, but a check has been ''given to priva'e enterprise, aud eminentely so m the c-ise of agricultural operations. Whilst • railway : contractor .-?. are paying eight and nine shillings per duy for labour, fanning must siand still.. It has been and still i,s sp in this district, unci '■ the same complaint comes from all parts of the colony. .The blame rests with the Government that has baen, to put it m the mildest way, ovei'. cautions m the matter of ' immigration. We may, howevea, expect that the Assembly will not sanction so large a loan m addition to those already raised without first apportioning the expenditure. Tho colonial Government has not been altogether blameless m expenditure though for the matter of that the Assembly has bean as , much to blame a?, the Ministry. There have been political railways m the past, and if the Joan bo first raised and then . apportioned there will be political railways m the future such works as those which the 1 Wellington Post,' points out as shewing extremely small receipts aud proportionately heavy working expenses. It is too much to expect of any Government that it should stand the pressure put upon it ,by individual members, and tho best way to keep them from temptation, and to secure the public expenditure for really necessary works, is to lay down first the scheme of works, and then sanction the raising of the sum necessary to carry it out. One great object will be to complete such works as have been already commenced. Already our railways, as a whole, are paying as fair an interest on expenditure as, under the circumstances, could reasonably have been expected from them,and the most certain way to increase their receipts is, to take from them their fragmentary character. If only for this object, to ' fully utilise the moneys already spent, a new loan has become a necessity.