but approved this special loan because it was necessary to complete a general railway scheme. It would be gratify ing to know from Mr Kelleston when he expects borrowing t* cease, and whether he thinks the Oolony can bear a much heavier loan until it has grown somewhat stronger and firmer on its financial lege. He was soundest on the land question, and his opinion that Crown lands should be extensively leased in the future will be hailed with satisfaction. It is to tbe land that we have to look to drag off a frightful loan of debt and taxation, and every Liberal will agree with him when he says " that it will be wisdom to set aside land to meet taxation." It is becoming clearer, every day, that in some way or other the land mußt bear more than it has hitherto been permitted by successive Conservative Governments, The people are already indirectly taxed more than they should be. Large land owners, and persons in receipt of large incomes, have escaped too easily. It is satisfactory to notice tbat Mr Rolleston is beginning to recognize this. He may not mean that he is in favor of a land tax, but a gentleman who holds that Crown lands should be leased, must logically come to the same conclusion which the Liberal party have long ago arrived at, that large estates must be taxed.
November 14. •

AUCKLAND.
Owing to the protest of the Waikato the first piize for the War Canoe Eace at the North Shore Regatta, was not given to the Ngapuhi canoe, but the second prize £50, and first to the Waikato. The Ngapuhi canoe was not really a war canoe.
