The Evening Star THURSDAY, FEBRUARY 20, 1873

Evening Star, Issue 3122, 20 February 1873, Page 2

The Evening Star THURSDAY, FEBRUARY 20, 1873

There arc extraordinary changes taking place throughout New Zealand, which cannot escape the notice of even the least observant. Three years ago station property was looked upon as a poor investment. Those who followed pastoral pursuits were depressed. Many of them had been induced to turn their attention to them when gold mining had given an extraordinary impulse to prices, and had paid heavy premiums for their runs; wool was low, mutton almost unsaleable. There seemed to he no prospect of bettor days. During the preceding seven years, thci’c had been occasional gleams of hope. There wore two or three intervals of peace, and markets improved a little; but these indications of what was probable, were there no disturbing causes, were soon overclouded. The Schles-wig-Holstein war, the American civil war, the Austro-Prussian war, the Austro-Italian war, and lastly the Franco-Prussian war, shut up markets, paralysed industry, and diverted capital from legitimate employment. It seems very probable that, for some time to come, there will bo ho renewal of these troubles. Men’s passions are the same; liable to be swayed by the same motives as their forefathers, but circumstances change. Most of those national disturbances wore only the reversal of arbitrary arrangements made some fifty years before, thereby territories and their inhabitants were disposed of by crowned heads just as they would have divided their winnings at cards. With those divisions of the -spoil was sown the seed of future trouble, symptoms of which showed themselves ou every occasion that favored i .their exhibition. With the exception of France and Spain, ill which civil strife seems almost chronic, matters appear to ho settling down pretty, well and thus daily a demand for industrial products is widening. The consequence as that wool commands higher prices than the most sanguine could have hoped for. But other results have followed the depression of those gloomy six or seven years. When sheep were at ruinously low prices, because of neither wool nor carcase having available markets, the first thought of the runholdors was to adopt the wasteful boiling down process in order jo utilise the tallow. In working out this plan, the value of the lleslx is thrown away; »ud although it was a cheap and convenient mode of getting rid of worn out stock, it has fortunately been superseded by a better. Meat preserving companies have shown how all the produce of Hie sheep run apd cattle station can he put to the best purpose, and further discoveries will, in all probability, add still more to the probable profits of pastoral pursuits, The combination of (hose favorable circumstances, and the rapid modes of transit now available liavo given -a value to station property that no one could have predicted five years ago; ; and this is seen in the eagerness with which runs are purchased. Qur telegrams from Christchurch yesterday gave information of the transfer of several lots of station property, at prices which, ’judging from opo slight circumstance, at any rate satisfied the.buyers. We presume, from the fact of the property being spiel, the terms would be equally sn4lfaetovy to the sellers. Looking.upon the ready sale,of those rims as an indication of the confidence aplertainoddp the .continued and future prosperity of the Colony, it is calculated .to g;rp .an impetus to the development of ail branches of industry, and not the less encouragement will be felt from the fact that one of <?ur leading statesmen, who during the last .session of Parliament signified his intention realising on his estates and leaving the Colony within two years, appeared to be one d the most anxious to invest. It will be noticed (hat the Hon. hj. W. Stafford, notwithstanding his expressed conviction that the Colony was rushing on to destruction, was, prepared to invest £ 5?,000 to it. gee»j ig

lost him tlic chance: he let it slip, and the station passed into other hands, from which he could not obtain it even at the cost of an additional five hundred pounds. The admirers of Mr Stafford will no doubt rejoice at this evidence of a change of purpose, or at least that his opinion of public matters is changed. Wc arc not sure that this difference between words and works will not shake the confidence of his followers in the reliability of his political judgment, although wc think there is good ground for the conclusion that his wish to invest in property of that character is evidence of a complete change in his views respecting the tendency of the policy of the present Administration ; and to he consistent, ho should he one of their active supporters. _ Much of the prosperity of the Colony is, no doubt, due to circumstances beyond its control; but much, also, is attributable to the adoption of measures for more complete industrial organisation and development. At any rate, it is plain, whatever Mr Stafford may have said, he at least is not afraid of profits being eaten up with taxation.