The Evening Star MONDAY, FEBRUARY 13, 1871.

Evening Star, Volume VIII, Issue 2494, 13 February 1871, Page 2

The Evening Star MONDAY, FEBRUARY 13, 1871.

Since the return of the Commissioners from Great Britain, very little has transpired respecting the result of their mission. We suppose Ministerial etiquette precludes their publishing any account of their doings prior to its appearing on the records ot Parliament ; so that beyond a cursory peep, so transient that the public are left to guess at what is concealed from what is permitted to appear, nothing will be shewn. As to the primary object to be attained of engaging the services of a defence force, as we anticipated that has luckily failed. We say luckily—for, never believing in its necessity, we feel no regret at the failure, lor the amount it would have cost is bettor devoted to well-devised public works. And it must be satisfactory to every one to learn from Mr F, I). Bell’s speech at Invercargill, that there will be no difficulty in raising money at Home for any works of a reproductive character. This intimation disposes of one of those bugbears which the opponents of the Government hold up to frighten people when the public works plan of the Government is mentioned. We do not know a time so likely as the present to attract capital to the Colonies, And herein is another iallacy that the shallow politicians of our day are fond of parading. There are men who ought to know better who complain of the advantages foreign capitalists derive from the. Colonies. We can hardly understand how they can help charging themselves with folly for their own utterances. Yet there are those bold enough, even at public meetings, to complain that dividends on banking capital and on pastoral investments are paid to shareholders at Home. They forget that had not those who have ventured upon such investments come forward with their subscriptions, many enterprises that have been exceedingly profitable to the Province, could not have been executed at all; and that if the investors have received handsome dividends for the use of their money, the Province has received tenfold the benefit as its share of the venture. And to a much greater extent will it benefit by the construction of cheap railroads. The working classes will be specially benefitted. There will be profitable and abundant employment for them in forming the roads, and the opening up of the country through their instrumentality will give such a wide area for profitable investment, and so cheapen the cost of necessaries, that they will be gainers in every way. Just now, while the Continent of Europe is in so unsettled a state, is the time for pushing these works. During the last twenty years English capital has been largely invested in public-works and other projects on that continent. Bailways, banks, insurance and other companies have been established, and the nations of Europe were getting on very comfortably through the a: sistanco thus rendered. It is very strange that during all this time the Colonies were neglected excepting by a few. The Stock Exchange at Home has its crotchets and its stereotyped plans of action. Like many people here, they could go in for small dividends amongst foreigners, and neglect large profits with good security amongst their own people. But war has done its work, and shaken confidence in European securities. The last ten years have given rude shocks to the belief in European stability. Schleswig-Hol-stein, Austria, and France have suffered, and industry has received a check throughout central Europe. Notwithstanding this, as soon as this disastrous war is closed, there will be a bidding for capital to restore what has been destroyed ; and if we do not make good use of our time, we shall again be thrown into the shade. We are glad to find that throughout the Colony the General Government, through the polling booths, is receiving that support that their policy deserves. Otago has shewn some instances of folly and misconception ; but even those who at one time openly opposed progress, have toned down to supporting what they euphoniously term “ the scheme with “ modifications.” In other words, they are hoisting false colors—and finding they were on the wrong tack, have gone as far as they could decently in the opposite direction. Those who put faith in them will find their “ modifica- “ tions,” as expressed by themselves, already provided, and that they only use the term as a piece of hustings claptrap to induce the electors to accord them that support which would be denied wore they to shew themselves in their true colors.