The Financial Position.

Dealing with the finances of the colony, the Premier quoted figures previously published to show the sound condition of the colony, and continued:—The credit balance to go on this year, after large transferences to the Public Works Fund, was £649,740, Now, as to the arguments of the great financial guns that had criticised the surplus and the Government's finances, "Take away," said Mr Duthie, "the balance of last year, take away the interest, the accrued sinking funds, and you would find it considerably reduced." Take away something else, and they said there would be no surplus at all. Take the sun away and they would be in darkness, but the sun was there and so was the surplus. (Laughter). These moneys were all to their credit to-day. He was awaiting the will of Parliament in respect of them. If the Opposition had been in power there would never have been any surplus at all. There would have been nothing to take away, because it would never have been there. (Laughter and applause).

"Legislation by Exhaustion." And now he came to another matter. They had heard about legislation by exhaustion. Well, they had in past sessions to force the Old Age Pensions Act, Lands for Settlement Act, Advances to Settlers Act, the Bank of New Zealand Act—and the Hansard proceedings would show it. Well, he remembered those nights, and so did his worthy first lieutenant, Sir Joseph Ward. They knew what it took to force that legislation through. To-day the balance-sheet of the Bank of New Zealand was given to the world. Some of these very gentlemen who had to be forced to pass this legislation were telling them of the splendid position of the institution, and what a grand thing had been done for the colony and the bank. If it had not been for exhaustion the old age pensioners would never have got their pensions; settlers would never have got cheap money, and farmers would never have got for themselves their beautiful farms under the Lands for Settlement Act. All reforms had sometimes to be forced through as against the dominance of a selfish minority.