NOTES OF THE DAY.

Dominion, Volume 6, Issue 1805, 18 July 1913, Page 6

NOTES OF THE DAY.

According to a cablegram published in yesterday's issue the British emigration returns for the year ended March 31 last show that no fewer than 407,729 people left the United Kingdom during that period. Tho immigrants totalled 71,275, leaving an excess of emigrants amounting to 336,454. This total far exceeds that of the previous year, . and constitutes a record, as the following table indicates: — Emigrants. 1901 72,010 1902 101,54? 190:1 147,0:i0 11101 12(1,,554 1905 i:i9,:i(ls 1900 101,G71 1907 2115.092 1908 91,150 11)09 i:i9,on:i 1910 1. 233,709 mil 261,50n 1912 208,181! 1913 .'136,454 Some people in Britain pro becoming alarmed at this great exodus, which,

[as far as Scotland is concerned, now exceeds the natural growth of population. In England, too, the drain is making itself felt in the rural districts, but the great cities are still growing fast, in spite of the fall in the birth-rate, as is shown by the following figures representing the increase of the population of Greater London: — ISSI 3,222,270 1871 3,885, Gil ISSI 4,766,661 1891 5,633,806 1901 ' 6,581,402 1911 7,251,353 The population of England and Wales as a whole is also steadily growing, having increased by 3,547,426 during the first ten years of the present century,_ as against 3,523,218 for the previous decade. Still, the large emigration figures are beginning to cause uneasiness, especially in view of the fact that it is the pick of the labouring classes that arc leaving the country. The Spectator, however, makes light of the cry that Britain is being drained of her life-blood, and contends that citizens ought not to be denied "the opportunity of enlarging their individual lives becausc of some theory that the population of every portion of the Kingdom ought always to be increasing."

I There was quite a brisk time in the House of Representatives last evening when Mr. Hanan had his innings in the Address-in-Reply debate. The member for Invercargill was in good form, and enjoyed his own points so immensely that members enjoyed them, too. It was in most respects a good party speech, though somewhat stereotyped. Mr. Hanan had collected quite a lot of useful ammunition from more or less ancient records, and fired it off with the greatest enthusiasm. It is open to doubt whether the political critic who delves back ten, fifteen, or twenty years to show that an opponent had changed his views on some question of the moment ever makes any real impression with the public as the result of his researches. Still it serves well enough when nothing better is available, and Mr. Hanan, like the majority of the Opposition just now, apparently experiences difficulty in finding a really effective line of attack. Following the example of some of his colleagues, the member for Invercargill attacked the Government for •putting into the last loan prospectus figures relating to the financial position of' the country which the Government, when in Opposition, had criticised. It does not seem to have occurred to the gentlemen on tho Opposition benches that the Government, whatever its views may be of the financial methods of its predecessors, has to accept the official figures set out in the national balance-sneet. There is no other means of placing the country's position before the London money-lender. Surpluses may have been produced in a manner which did not commend itself to them, but when they came into office they had to take the official records as they found them, and make the best possible use of tho figures available to maintain the credit of the country abroad. In a year or two's time it is to be hoped they will be in a position to show a much more satisfactory state of things than is disclosed by the financial methods of the Continuous Ministry. They should at least be able to show better results for tho money expended. ' ,

The Opposition financial experts who have been contending that Mr. Allen made a mistake in not' arranging for short-dated loans, inasmuch as money will probably be much cheaper in the near future, can get no support from the present outlook on the Stock Exchange. The Daily Mail states that from all quarters comes news of loans in process of incubation. . China will want more money at an early date, as the £25,000,000 which she has just obtained will not go far in meeting her needs. Mexico is about to appeal for £20,000,000. The immediate requirements of the American railways are modestly estimated at £50,000,000. France will shortly borrow at least £20,000,000 to satisfy pressing bills; and it is generally thought that the German Government must ultimately have recourse to a loan to defray the cost of its new Army Bill. "This," the Daily Mail continues, "is the investor's opportunity, for when the demand is so great he can fix his own price for his capital. He is no longer content with 3 or '4 per cent, as in the past, but he is asking and getting 5 or 5j -per cent. Even then the supply is not equal to the world's requirements."