The Evening Star THURSDAY, SEPTEMBER 23, 1875.

Evening Star, Issue 3925, 23 September 1875, Page 2

The Evening Star THURSDAY, SEPTEMBER 23, 1875.

The reaction that is taking place at Horae is producing the effect on prices that we anticipated and have more than once pointed out. The tables are now being turned against labor. Two years ago the operatives had it all their own way. They forced up wages until production became unprofitable, and in consequence demand has ceased. Were manufacturers to continue work at late wages, they would be subjected to ruinous losses, and therefore they have taken advantage of the opportunity of reducing them. The employed have had their day, but the turn of the wheel has placed them undermost. This is the consequence of one of England’s best customers, the United States, being in financial difficulties, and is the curative process leading to a reduction of prices at Home. It has already affected the value of New Zealand produce materially, though not to a ruinous extent, or beyond recovery. Events work slowly in national history,

and it cannot be expected that any tlmuy-populated country can rapidly become a manufacturing centre : yet in that direction New Zealand's industrial energies should tend. As producers of raw material our returns for capital invested are dependent upon the accidents that affect the purchasing power of manufacturers at Home. There are hall-a-dozen or half-a-score agencies between the squatter and the woollen mill, each of whom 4ives out of the proceeds, and usually contrives to be pretty well paid whether the balance in favor of the producer is large or small. The establishment of woollen factories here would bring the wool - grower and manufacturer into immediate relation, and save a long catalogue of expenses of packing, freight, landing and shipping charges multiplied two or three times, brokerages, warehouse rents, and other incidental expenses. New Zealand throughout its length and breadth has advantages in its mineral wealth. There can be no doubt that, with an unlimited supply of coal, capable of being used on land if not for marine purposes, well - conducted factories will prove remunerative when settled markets for the produce of the looms can be opened up. New Zealand is very admirably situated to command them. Tkere are large populations growing up in our immediate neighborhood, which, although competing with us as woolgrowers, do not appear nearly so favorably placed for commerce and manufactures. They are unburdened with debts contracted for war purposes, are not subjected to money panics consequent upon rumors of war amongst themselves, nor through the temporary difficulty of a central banking establishment; and their purchasing power will increase as population increases. We need not take into account trade with the vast populations of the Southern archipelagos, or the ultimate commerce New Zealand is destined to have with China and India. All these will come in turn : most probably after even the youngest merchant among us is laid for ever at rest; but it is no rash prophecy to say so it will be. In the meantime, self-interest should lead our producers of raw material to take seriously into consideration the best way of avoiding those fluctuations in price to which they are now subjected through circumstances beyond their control. When flesh meat was so low in price as to render exportation profitable, they did wisely in establishing meat-preserving works. They produced the intended effect, and now it is more profitable to keep them idle than to work them. The money invested has returned itself many fold, although the balance sheets showed a loss. Possibly a few factories would not do more than pay expenses, but if they had a similar effect on the wool market they would do their work, prove the foundation of future manufacturing prosperity, and help to relieve us from the adverse effects of monetary, war, and commercial panics at Home. No care, foresight, or organisation can prevent fluctuations in price. Evencouldallnational debts be wiped out with a sponge, all European war establishments be disbanded, all banking be carried on on sound principles, and the peace of the world never again disturbed, some changes would take place, although the chief disturbing causes being removed, there would be a fair average return for investment and labor. Butsince these very Utopian benefits are not likely to be realised, that country will thrive best that can place itself in an independent position. We fear that neither our present commercial knowledge nor our vaunted patriotism have power enough to lead to well-devised action to that end.

There was a capital attendance at the Temperance Hall last evening, when a lengthy and diverting programme was successfully gone through. This evening Mr Weightman, the Man-fiah, takes a benefit, and among other novelties it is announced that he will undress under water. The Auckland football team left for the frorth per Taupo this afternoon. Several members of the Dunedin Club accompauied them to the railway station, and some went down to the Port to see our late visitors off. As the train left the railway station three hearty cheers for the Auckland men were given by the people assembled. The first i eneral meeting of shareholders of the ' Palmer-ton and Wuikouaiti Times' bok place in the Palinerslon Town Hall on Wednesdaj evening last. Mr T. Oalcutt in th« chair. Messrs J. M'Kenzie, M.P.C., A. 0. Bell, T. Calcutt, W. Little, M. Faga«, J. •<remner, and J. Arkle, were elected directors. It wa* stated that 2,487 stares had been taken up out of the 5,000 farming the capital of the company, and that Mr F. J.' Davis had been engaged as editor and manager of the literary department. The ' Narrabri Herald ' says that two wealthy squatters se- tip a claim to a piece of country—a sort of border land between thiir runs. The value was »b>ut LSOO, but neither the one nor the other would give way, so they res lved to leave the dispute to the .-.rhitrament of tbe wig and gown. The case was trif.d. and the verdict ..iven such that it coat plaintiff L' 20,000 and defendant LI 6 000 he country was divided between them, but during the course of the action it fell into other ha ds ; the free selectors had appropriated it! Hunting a shadow thus cost L3b\o' 0, and after all the shadow was not caught.

The following singular advertisement, signed by William E. Stamford, appears in '■ he Christchurch p:\pcrs : ' One of my creditors (as I think unjustly) forced me some months since to obt»ia the pro ection of the. Supreme C. urt under the Bankruptcy Act, and I duly obtained an order of discharge thereunder. Having now had time to earn a sufficient sum by dailv labor to pay all my just debts, [ beg to request all my creditors, except the one in question, to foi - ward their aec tints to mo at once. I will pay them in full, notwithstanding the abovementioned order of discharge." Dr Copland delivered a lecture in the Wesleyan Hall last evening on " Palestine," and the route from England tkitb,er. The

subject was made very interesting by being illustrated with magic lantern views of the various places and objects of interest. Mr Neale occupied the chair, Miss Chapman officiated at the harmonium, and Mr Carter superintmded the singing of several hymns "y the Sunday school children. Votus of thanks to the lecturer and the thairman concluded the proceedings. The proceeds amounted to about Ll2; The lectvire was given in aid of the fund for the purchase of the harmonium for the children of the Sunday school

On Tuesday last, Mr Macgregor, who has conducted a private school in Stuart street for the last eight years, and has now severed his connection therewith in consequence of his recant appointment to the head-master-ship of the Invt-reargill Grammar School, was presented by Maßter $. Hams, in the name of his fellow pupils, with a hands .'me rosewood desfc, in token of their affectionate reg ird and their earnest desire for his success and welfare in his new sphere of labor. Mr Anderson, by whom the academy will in future be conducted, was then presented by Master A. Bagler, on behalf of bis schoolmates, with a f-ilver pencil-case.- After thanks were returned, and a address delivered by Mr Macgregor, three hearty cheers were given for each of the masters, and the proceedings terminated

The Wellington ' Tribune' says it is entirely at one with Mr Sheehan in holding the principle that the Maoris Bhould be treated precisely like the Europeans in the matter of electoral and other privileges. Maori representation may have its uses, bat after all it is very much a sham, and the Natives should be encouraged to register their names and vote at the polling booths like their European neighbors. Sir Dona'd M'Lean, however, sums up the true philosophy of the case in saying that we had better not hurry events—it is a case in which Waiting is wisdom; and as the young generation grows up, trained at schools which the hon. gentleman has done so much and so wisely to set up, its members will be capable of exercising the franchise intelligently, and in other respects holding their own with those around them.

There was a good house at the Queen's last night, when the *• Merchant of Venice" was produced with Mr Bates as Shylock, Mrs Bates as Portia, and Mr Steele as Bassanio. These performers' rendering of these characters have been criticised on a previous occasion, go that we need only say that the piece was well played throughout. The entertainment wound up wi^h

"Toodles." The whole performance would have been highly success ul had it not been for the scandalous behaviour of some members of the Uunedin and Auckland football teams, under whose "patronage" last, night's programme was played. These individuals conducted themselves in a most abomiaable manner, actually two or three times bringing the actors to a standstill, and causing Mr Bates to appeal for less mterrup tion The les ees s ould have had them tarried out of the building, and the next' itne Messrs -teele aad Kengh s»ek pa-ronage we should advise them to obtain that <>f people a hhade removed from low blackguardism.

The annual meeting of the Citizens' Cricket Club will be held at the Royal Hotel, Walker street, this evening at 8 o'clock. Our readers are reminded by advertisement that the collections for Mr Jeffreys are to be sent to Mr Massey, the treasurer.

The third session of the Caledonian Society's evening classes will be formally closed on Friday, the 24th inst., in the lower hall of the Athenseum.

A concert in connection with the Kftox Church Young. Men's Society will be given in the class-room to-morrow evening, at 7.30. Mr Wilson will take the chair.

A gTand concert and ball is announced t» take place at the Kaikorai I'rill-shed on Kri day evening, the proceeds of which are to defray the cost of recent improvements to the Drillehed.

Brother J. Bathgate will deliver his lecture on " Obkn Times in Scotland " at the Temperance Hall, on Monday evening. It will be delivered under the auspices of the 1.0.0. F., and the proceeds will be handed over to the Benevolent Institution.