LETTERS TO THE EDITOR.

Dominion, Volume 4, Issue 1012, 30 December 1910, Page 6

LETTERS TO THE EDITOR.

.— "A BORN FINANCIER." Sir,—Sir Joseph Ward for many years has held the reputation of being a great and'a successful financier,- but what lie has- accomplished to acquire this reputation or whether he is justly entitled.to. be styled as such is an entirely "fjerent matter.- The question is askeil: what is a 'financier? The showman ..who nouhces to his confiding audience that he'can convert their silver into sovereigns is immediately regarded, by simple yokels ;as "a wizard of finance. J'no conjurer of' figures who . can make his audience believo that twice .three makes seven, and .who can draw* up balancesheet and-create a "surplus" where a loss actually. exists, may be. regarded as a financial genius. Our Premier, .however, does- not come.' under any 01 the headings above described, but the question is naturally asked: "What financial transaction has he brought to a successful issue that thousands of . other men in the same position could not have negotiated equally well? As is-.very often the -case, the. position makes the man. Take, for instance, how a man-with-a "six-shooter"-can hold up a body of men and'dictate, terms to them. In the same manner, our Premier, by means of the key to the colonial exchequer, which lio holds, can. dictate. to his. followers his terms. Without the revolver in the hands of the first named and the "golden key" in the-hands of-the other, neither of these persons ■ would be more . than "ordinary man." The revolver in the one'case'and tho "wherewithal to purchase support" in the other case make the men what they are. Therefore. wHt credit is there due to the Premier for the many loans .he has raised lur ui,'ing tile last score of years? Wouid any person be, so foolish as t6 suggest that Sir Joseph Ward can obtain, money on the London market at a lower rate than any other ordinary financial agent could do? ..

Presuming a private.individual.owned a hundred thousand , pounds ■ worth of ■property, in the, centre of this city,would lie. be termed "a great and successful financier" by' reason of the fact that he negotiated a ten-thousand pound loan-on same? So,, with the undoubted security of, this colony to pledge; it does not require a "ivorld-wide-known" financier to raise the money required. Scores of financial agents' in New Zealand could do. equally well and at: a very large saving to the colony. At the present momerit, the raising of a lean means a huge expenditure. The Premier's travelling expenses periodically to London alono are costly , outings. When our next , loan is required, if tenders for the. position of financial agent were advertised for, many absolutely-suitable .men would come forward, and offer handsome bonuses to be allow'cd-to negotiate the transaction. The fortunate nian w ; ho -was chosen would recoup himself out of. the "cut-in" that would* be allowed by' London brokers for putting business in their-way. Sir Joseph Ward recently informed the country that tho late;loan on the London market w;as a .great success. What will'.the.various papers in England say when they, hear of this statement? Will they regard the Premier,of New Zealand as'a' great and successful financier, or what?—l am, etc., BRAZEN.