vious to need much demonstration. The species of Eucalyptus ordered by the GOVERNOR is not, we presume, the common Blue Gum, which proved a failure on its trial some years ago, but the variety upon which Mr. FORD has reported favourably,
His Excellency was able to show that the financial position of the Colony is eminently satisfactory, the revenue exhibiting a steady increase over expenditure, and a balance for 1883 of $120,800. In addition to this the Colony has an estimated balance at credit of $1,095,505. The public works in construction or contemplation will, however, more than swallow up this million and odd dollars, and Sir GEORGE BOWEN therefore proposes that a moderate loan, not to greatly exceed the revenue of a single year, should be raised on the exhaustion of the present assets. Of course there is no immediate necessity for such a loan, but the GOVERNOR wished to elicit the opinion of the Council as to the advisability of incurring a public debt. That opinion was pronouncedly in favour of the proposition, and we feel confident that the Council most faithfully reflects the views of the colonists on the subject. It would be most unreasonable to expect the present generation of residents to bear the entire cost of enormous public works of permanent value, by which their successors will benefit even more than themselves. Some of these works, moreover, will be reproductive, such as the reclamations at Causeway Bay and Belcher's Bay, the continuation of the Praya past the Naval and Military present sea frontage, &c., &c. A loan could easily be raised, probably within the Colony and neighbouring Treaty ports, on easy terms, and would form an excellent and secure investment for those persons who have small savings and object to incur risk of losing them.
The GOVERNOR touched lightly on the Blockade question, but while saying nothing definite on the matter, he expressed great confidence that Sir HARRY PARKES will do his utmost to procure an equitable settlement of this long-standing grievance. Several other matters are referred to in the Speech which cannot now be referred to in detail. They will all, however, we doubt not, receive the earnest consideration of the newly constituted Council, which promises to work harmoniously for the common good, and do its utmost to promote the prosperity and well-being of the Colony.
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vious to need much demonstration. The species of Eucalyptus ordered by the GoTER- NOR is not, we presume, the common Blue Gum, which proved a failure on ita trial some i years ago, but the variety upon which Mr. FORD has reported favourably,
His Excellency was able to show that the financial position of the Colony is eminently satisfactory, the revenue exhibiting a steady increase over expenditure, and a balance for 1883 of $120,800. In addition to this tho Colony has an estimated balance at credit of $1,095,505. The public works in con- struction or contemplation will, however, more than swallow up this million and odd dollars, and Sir GEORGE Bowey there- fore
Fk moderate loan, proposes that not to greatly exceed the revenue of a single year, should be raised on the ex. haustion of the present assets. Of course there is no immediate necessity for such a loan, but the GOVERNOR wished to elicit the opinion of the Council as to the advisability of incurring a public debt. That opinion was pronouncedly in favour of the proposition, and we feel confident that the Council most faithfully reflects the views of the colonists on the subject. It would be most unreason- able to expect the present generation of re- sidents to bear the entire cost of enormous public works of permanent value, by which their successors will benefit even more than themselves. Some of these works moreover, will be reproductive, such as the reclamations at Causeway Bay and Belcher's Bay, the continuation of the Praya past the Naval and Military present sea frontage, &c., &c. A loau could easily be raised, probably within the Colony and neighbouring Treaty porta, on easy terms, and would form an excellent and secure in- vestment for those persons who have small savings and object to incur risk of losing them. The GoVERNOR touched lightly on the Blockade question, but while saying nothing definite on the matter, he expressed great cou- fidence that Sir HARRY PARKES will do his utmost to procure an equitable settlement of this long standing grievance. Several other matters are referred to in the Speech which cannot now be referred to in detail. They will all, however, we doubt not, receive the earnest consideration of the newly constituted Council, which promises to work harmonious- ly for the common good, and do its utmost to promote the prosperity and well-being of
the Colony.
337
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