THE FINANCIAL POLICY OF THE GOVERNMENT.

Waikato Times, Volume XXIV, Issue 2014, 4 June 1885, Page 2

THE FINANCIAL POLICY OF THE GOVERNMENT.

Sin Jn.u'3 Vocfl haa requested the Press Association to stitc that, if Mr Biycc is concctly teported at Waverley, li is statements nre calculated to creato senonsly wiong impressions concerning the nature of the finance measure of last session. Sir Julius wishes to add that he is sure that it has not been through intention, but though misappiehension, that Mr Bryce is so much in etror as the statement appears. It would seem that Mr Biyce alleges that the Assembly autlioused boi lowing to the e\tent of nearly one and a-half millions without distinctly saying ao. The nnt-iral inference would be th.it tln\ amount was authoiised to be borrowed on behalf of the colony, the colony being liable for repayment. The statement is, however, not correct, cither as to the colony or other bodies being authorised by the measures of last session to increase .their debt by the afcreoate amount stated. Mr Bryce's statement is that the follow ing authority was taken for bonowmg :— " For the North Island Trnnk Railway, £1,000,000; loan of 18S4, £2,300,000 ; loan to the exteut of the aceiued Sinking Fund, £2,792,508 ; and loan to the extent of the Sinking Fund of this year, £241,000. In addition to the direct loin, there was nuthonty for indirect bon owing power for the West port Collieiy £500,000, guarantee on debeuture, £1 30,000 ; OUro Harbour Board, £730,000 -bringing tha total amount of borrowing authorised in one session to £7,439,803. All except the milliou for the North Island Railway was authorised last session. The Philosopher's Stone, w hich was to save the colony £244,000 a year tinned out to be sei/.mg the Sinking Fund." A3 regardi the North Island Trunk Railway loan it was authorised in 1882. All that was done last session was to give authority for its being raised ; until the line was approved by Parliament. The loan of 1884 — one million and a-half— was a new loan authorised last session, mainly todibdiarge and meet liabilities inherited fiom the Government of which Mr Bryce was a member. The loan, to the extent of the accrued sinking fund, may almost be said to be imaginary. The only ground for stating there was authority for such a loan is that the power to con\ert loani outstanding, without deducting the sicking fund accumulated, was le-enacted. If that is w hat Mr Bryce meant, it wai no new power, for the same was already existent by the 4th clause of the New Zealand Consolidated Stock Act, 1877. The Westport and Grcytnouth harbour loans are presumably meant by the next reference. The Government was only empowered to guarantee part of theao loans. Mr Bryce seems still to quite misunderstand the nature of the measure concerning the sinking fund. It is satitfactory to know that it was searchmgly examined and approved at home. As to the borrow ing of last session, ie may be said that it nearly all consisted of authority to take up engagements already contracted, except the £24,000 to piovide an equivalent for the intieaset. of the Sinking Fund after the 31st March, 1884, but not to take up any Sinking Fund already accned.

Amhuc\n Shi ocitu'V —Colonel Donan is under couti act to write up a scries of pen portraits of the leading types of American l>eauty for a St. Louis publication. He took a vigoious pull at a aiturnine bottle, spat upon his hands, ami started out in this style :— " Biitain, whose morning drum beat sounds around the globe, hab but one queen, while we are bleat with one or moio in e\ ciy home from ocean to ocean, and fiom where aurora-boiealic finders paint w ith weird, mysterious splendors the Dakotan skies, to where the billowed sunshine of tb« Mexican gulf chants its ceiseiess anthem to Florididii shoies of cvei lasting green and gold. The ancient Jew was ruled by theocracy ; we; both Jew and gentile, bow beneath the flower wreathed, silk lined yoke of a resistless young sheooracy, matchless m grace, marvellously gifted in woman's grand endowment— tongue." —Chicago Daily News. He Humoured Him.— A Kew York stock broker, who was on his way to Builalo last week, observed that one of his fellow passengers was closely regarding him, and after a time the man came over and asked : "Didn't I see you in Chicago in 1879?" The broker wasn't in that year, but, thinking to Immonv the stranger, hs replied in the ailiunative, " Don't you inuem'oci handing a poor devil a half dollai one n-ght in fiont of the Tremont ?" " I do." " Well I'm the chap. I was haul up, out of woik and about to commit suicide. That money made a new man of me. By one lucky shaft to another I am now worth 25,000 dollars.' 1 "Ah ! glad to hear it." "And now I want you to take 5 doll.tis in place of that 50 cents. I cannot feel easy until the debt is paid." The broker protested and objected, bufrfinally, just to humour the man, he took his 20 cloll-ii bill and gave him back 1,1 dollars. The stranger soon withdrew, and everything might have ended then and there if tho broker, on reaching Buffalo, hadn't ascertained that the "twenty" was a counterfeit and that he was 15 dollars out of pocket. The Viince of Wales has given Lord Canngton a definite promise that, if no unfoisccu circumstances mteivene, he will pay a short unofficial visit to the Australian colonies during his friend'i vice-i oyalty in New South Wales. The desirability of this visit has, as you colonials are no doubt aware, been piess>ed on His Royal Highness for some yeais past ; indeed, at one time it was well nigh fixed. The difficulties of expense and time, and the formidable nature of a roj.il progiess throughout Australia similar to the Piince's Indian tour, camed the idea to be finally abandoned. It it now thought that there are no obstacles i» the w.ty of xisitiug an intimate fiiend like Loul Cirmgton *tnu-tiU(nj, andseeingthe colonies as his giust. The people would, of course, have ample oppoitunities of welcoming the Heir Appannt, but there would be no necessity for display. The principal doubt seems to be w hether the Queen will give her consent to such a programme. Prince Albert Victor has had a good deal to do w ith exciting his father's interest in an Austiaiian tour. He was much struck with all he saw ou his visit to the Antipodes, and talks incessantly on the subject. At the Colonial Institute the other e\ening he %olun» tarily asked to be intioduced to all the colonial magnates on the platform. — London correspondent. "Nuz/ix' ovmje Kixd."— "Oh, here you come, tired as usual,' 1 exclaimed Mrs. Snapper, as her lord, full as a tick, entered bur bedroom at two o'clock in the morning; " It's a pity you didn't stay out all night, then may be you'd get home sober." /'All n' duclue darlin. 1 Go back fu' shay sho." "No you don't, neither. Yoij'll get right to bed. Got one of your( usual excuses, I suppose. Been detained with a customer on important business." "Nuz/in' ov the kind." "Had to attend lodge for work in the 99th degree, and was kept late." " Nuzzin' ov she kind." "Oh then you — you went to the organisation of a new temperance society, irissed the last car, and had to walk home. That's what makes you so tired. Oh, you bold, bad man." "Nuzzin ov she kind." "Perhaps you had to see a friend off ou the boat?" "Nuzziu or she kind." "What? You don't mean to say that you have invented a new excuse?" "Nu/zin ov she kind." " Yon'er enough to drive » ! woman wild with your idiotic ' nuz/in of she.' Where ha\e you been 'r Of course you havent been drinking." " Been on er lid toot 'ith th' boys. Had lotzer fun," and Mr. Snapper winked at him* self in the looking glass. " Wha-at '.'' cvolaimed Mrs S., and she was so com* ; pletly lost in astonishment at his making ' the admission that she couldn't say word, but turned her face to the wall and gnaihed her teeth until breakfast time*