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Waikato Times, Volume XXX, Issue 2480, 2 June 1888, Page 2

Tiie Colonial Treasurer's new Budget must not be accepted as indicating a policy committing the colony to the principle of Protection. The more closely the Financial Statement is studied the more apparent does it become that the Treasurer is directing his whole energies to procure the revenue absolutely required; and in order to succeed in doing so, he seeks the use of such means as will the more surely meet his pressing requirements. The Premier has not scrupled, in the presence of the country's extremity, to utilise the existing division of opinions in the House on thofjuestion of Protection and Free Trade in the abstract. The opportunity for introducing such a strong measure of increased taxation was most favourable, and he has been quick to avail himself of it. His tarifT appeases the Protectionists, who form a strong following; on the other hand, the l'Yeo Traders, who number so large a portion of his own followers, must give in their adhesion to the proposals of the Government in order that the revenue required to balance the expenditure and meet the engagements entered into by the colony may be raised. The latter is bolely the light in which the Tariff has to be viewed, and unpleasant though it is, the position mnst be accepted, with perhaps a few mod illations. The colony is, undoubtedly, in a state from which it can only be extricated by the most careful management. We do not think any other Ministry that could be formed out of the incongruous elemeuU

which constitute the present Assembly could direct the affairs of the country more effectually, or with greater safety, than the one now in office. The question of men does not alarm us ; our anxiety is with the measures proposed to restore prosperity and resettle the country. The boldness and vigour displayed by Sir Harry Atkinson must be conceded to him ; he has shown that he is making every effort to thoroughly grapple with the great difficulties of the colony. We are prepared to retain our confidence in the Ministry in continuing the work of retrenchment and economy in the administration of the business of the colony. The Governnent of Sir H. Atkinson are fully alive to the determination of the people to bring our expenses within our means, and rigorously check any further disposition the House may exhibit to enter upon a course of extravagance. There are however many anomalies in the tariff which require serious attention. We doubt if the customs revenue will benefit to the extent anticipated; the imports will decrease materially in consequence ot the prohibitive nature of many of the duties, neither do we believe local industries will be encouraged so conspicuously as it is proffessed the tariff will do. Uncertainty, want of confidcnce, and loss of population will still operate on the minds of capitalists and deter thera from lauuching into new enterprises, or permanent investments. The general effect of the Government policy will not tend to keep the people in the country. To do that there must be an entirely new departure in the direction of land settlement. Even were we to go the length of offering immigrants our waste lands for nothing, it would be regarded favourably as a set off against the burden imposed on the small taxpaying population now in the country. With increased numbers to bear it, the weight would be lessened. The tariff as proposed is not favourable to the farming class who will feel the increased taxation very severely. The duties on such articles of produce as butter, cheese, preserved meats and '■hall have no value, from the fact that there are no importations against which to protect the farmers. But the duty on salt, particularly, an article which enters largely into every branch of the agricultural and pastoral industry, is a positive infliction. If a duty, of say one halfpenny, could be placed on sugar in order to restrict the large importations of German sugars into the colony, there would be a direct incentive for the development of the sugar beet industry in this district. It is very uncertain whether the fariff will be accepted by the House, but it will, there is no doubt, undergo important alterations in Committee, should it rcach that stage.