The Waikato Times. AND THAMES VALLEY GAZETTE. Equal and exact justice to all men, Of whatsoever state or persuasion, religious of political. SATURDAY, JAN. 7, 1888.

Waikato Times, Volume XXX, Issue 2417, 7 January 1888, Page 2

The Waikato Times. AND THAMES VALLEY GAZETTE. Equal and exact justice to all men, Of whatsoever state or persuasion, religious of political. SATURDAY, JAN. 7, 1888.

There is food for reflection in placing the position of New Zealand by the side of the Australian colonies. For some years we have become painfully familiar with the dolorous song of depression heard from one end of the land to the other. Failures and bankruptcies on all sides, complete collapse in the value of land, ruinous falling away in the price of agricultural and dairy produce with a general de preciation in all our markets, not only a great lowering of wages, but also a distressing scarcity of employment in all branches of labour, the ■whole capped with excessive taxation, administrative incapacity and an annual falling off in the colonial revenue. The Australian colonies form a singularly striking contrast to this picture. Each one of them has just announceclthe yearly summary of progress made during the past twelvemonth, and though the story is told with telegraphic brevity, nevertheless there is a volume of meaning to bo extracted from each laconic narrative. The revenue of Victoria for the year that has expired was .£7,054,000, showing the very substantial increase of £393,000 over the year.' Although Victoria's finances

appear to lie in a healthy state, she. is far outstripped by NowSouth Wales The past year's I rcvcnuo of the latter colony was no less than £8,~>59,000 being an increase of nearly £1,000,000, and exceeding the Victorian revenue liy theextraordinary sum of £1,535,000. Two years ago, partly owing to the cost of her patriotic fervour in equipping a contingent for the Soudan, the finances of New South Walivs were in an alarming condition and there was a deficiency of about two and a half millions. But, by adopting measures of administrative economy, and by conspicuous statesmanship, that unhealthy position was reprieved very speedily, for the following year showed an increased revenue thus illustrating tho colony's wonderfully recuperative powers; and now again this year we behold these additional amazing proofs of the great material progress New South Wales is making. Queensland presents her bi-annual balance-sheet showing that the revenue during the half-year was £1,672,000, being an increase of no less than £224,000 over the previous year. The little colony of Tasmania, which has not adopted what is familiarly styled " a spirited policy of public works," that is, a system of wholesale borrowing, also shows a substantial increase in her revenue. South Australia is the only colony in the happy family that appears to be suffering, like New Zealand, under adversity, her revenue being £102,000 below tho estimate. In studying the points presented by these returns, there is one feature as between Victoria and New South Wales that does not fail to strike an observer as very remarkable. The increase in the Victorian revenue is principally in the Customs, being no less than £105,000. This means that the result of a protective policy is the same in Victoria as it is in the United States, where it has now assumed so serious a phase that, as indicated in the President's recent message to Congress, a revision of the tariff is imperative. Wβ can see that in Victoria, whilst her policy maintains a host of industries with artificial bolstering, it does not shut out foreign manufactures, and that her consumers are taxed heavily through tho Customs. New South Wales, on tho other hand, has not only an enormous increase to her incomo, but entirely relieves her consumers, for her Customs revenue shows a docrea?o of no less than £5G,000. Further evidences of the development of New South Wales and the rapid progress of settlement in the country aro to be gathered from the facts that the increased revenue is principally territorial, as follows : —Pastoral revenue, £704,000 ; and laud sales, £22,000. Iu Victoria tho territorial revenue only increased by £7,000, which is most insignificant as comparocl to the amount obtained by tho sister colon} , , whilst it clearly indicates that the latter presents greater under an enlightened scheme of Government, for permanent settlement. It will be found that this deduction is corroborated by late statistics which exhibit a marked increase in the population of New South Walesa Many good lessons are to be learned by us in New Zealand from a matter of fact study of the realistic picture presented by the most favoured colony of the Australian continent. Like her we can become regenerated and prosperous by wise legislation, capable government, and genuine economy besides retrenchment, in our entire administrative machinery, central and local.