Special Advertisements.

Waikato Times, Volume XXXV, Issue 2848, 14 October 1890, Page 2

Special Advertisements.

stone-the stones will not be numerous. It rests with tho electors ill the present election to tike the initial step to remedy this deplorable state of affairs. I say to them " do your duty and your represenatives will do their duty."

Besides the endeavour which ought to be, made to raise the character of Parliament, and its capacity for useful legislation, the financial position of the colony must engage the serious attention of the House of Representatives during its next session. This is a time of financial transition. In the period of years now ending, the colony ha 3 had the command of large sums of borrowed money, which it has spent productively and unproductively, wisely and unwisely. In the period of our immediate future, loan money will no longer be at our disposal; hut the necessity of providing interest to an enormous extent remains absolute— a thing not to be avoided or got rid of by any means. Truly, if you look at it, a great distinction ! It will be the duty of the new House to deal with the changed condition ot the colony. Care, prudence, moderate desires, on the part of members, steady administration, determined economy, unflinching integrity, on the part of Government; patriotic self-de-nial, and sympathy on the part of the public will all be required to enable the colony to come safely aud honourably through its day of trial and temptation. It remains to be seen whether the choice cf the electors will rest on men prepared to follow the hard aud difficult path before them. If men of an opposite class are chosen, men who ask for 1 ' peace in our day " regardless of disaster in future days, such a result will be fatally discouragiug to many persons who regard in their hearts the permanent welfare of the fine country in which their lot is cast.

I have confined myself in this address to two great subjects namely, the necessity of raising the character of Parment, and the question of the financial position of the colony which is about to force itself on our attention whether we like it or not. As to the first subject details are unnecessary, and as to the second details of the consequences resulting from the position are to a large extent impossible. A little explanation may, however, bo permitted.

\Ve have been accustomed for many years back to aid the ordinary revenue from loan in a variety of ways. We are doing so still, aud will only cease because the fund from which the aid has conic will be exhausted by the end of the present financial year. For example, the cost of erecting " public buildings " has been largely provided from loan, and so have the funds to "open land before sale." The purse will be empty on the 31st of March next, and the ordinary revenue, although aided for the present year from loan, will, according to a statement by the Acting-Premier, be 1',30,000 in deficit. What shall we do? .Shall we endeavour to carry on settlement and the ordinary work of Government, relying solely on our own resources Shall we again enter the London mouey market as borrowers? Or shall we aid the settlement fund or the ordinary revenue by borrowing within the colony ? These are matters for grave and deliberate thought, not to be decided hastily.

The public do not sufficiently appreciate that a very large part of this colony's expenditure does not admit of retrenchment—tlie payments can neither he reduced nor evaded. The interest and sinking fund on our public debt alone, by the Treasurer's last statement amounts to £1,575,000, aud I,ho other payments fixed by statute to £21J8,000 additional. In the interest on our debt and the other charges fixed by law we have thus £'2,141,000 to which the pruning knife cannot be applied. Let me now point out the items of revenue absorbed by these fixed charges. The whole of the estimated customs revenue is required (say), £1,.'!7."),000, the whole of the property tax £305,000, the Beer duty £51,000, Registration £39,300, Marine £10,700, Miscellaneous £40,000, aud £201,000 from the stamps duties to make up the total. All these items, the most important sources of our revenue, are required to pay charges we cannot hope to alter. After doing this let us see what is left to promote settlement and carry on the Government of the country. Profits on working railways £402,000, Depasturing Rents £101,000, proceeds of debentures on sinking fuud increases £238,000, balance of stamps duties £351,000, total, £1,232,000. Leaving out of consideration the land revenue, and land department, which for years has not paid its way, of our yearly revenue we use £2,144,000 to discharge liabilities we can neither alter nor avoid, and we have less than one and a-quarter millions left to aid the Land Fund in the promotion of settlement aud to carry on the whole government of the colony where not provided for by Statute. Perhaps the full significance of the position will be seen wben I say that out of this £1,232,000 the Departments of " Defence and Police," " Justice," " Post and Telegraph," and " Education," demand more than £900,000, leaving little more than £300,000 for the remaining Departments of Government, for Legislation and its Departments, and for the aid of the Land Fund in the promotion of settlement.

I think I hear some of my newspaper friends say, as they have said before, " If this is Mr Bryce's view why don't lie suggest a cure ?" Mi' Bryce s " view" iniiee:l I Why, it is the plain fact visible to every one who likes ta look, And as for the "cure " I am lio quack charlatan with nostrums warranted to cure all evils. We have had enough of those. Rather I would be regarded as the prudent physician careful only to remove obstructions to the free process of nature. In this case there is no royal road to recovery—nothing but the old beaten paths, prudence, ecouomy, hard work.

To the electors of New Zealand I would say, gentlemen you have the remedy in your own hands, do what in right, or do what is wrong, and I venture to say yon will be represented accordingly by your members.

Gentlemen Electors of Waikato, I place myself very completely in your hands, if you return me as your member, I shall be proud to represent you as well as I am able. If you think it best to reject me. I shall of course regard the rejection with mixed feelings (uouo ot them will