The Feilding Star. SATURDAY, AUGUST 26, 1882. THE NEW LOAN.

Feilding Star, Volume III, Issue 21, 26 August 1882, Page 2

The Feilding Star. SATURDAY, AUGUST 26, 1882. THE NEW LOAN.

Rumours have been circulating very lately in Wellin.ton, to ths effect that Mr Johnstox, the Miniscer for Public Works, intends resigning his seat in the Ministry to enable him to visit England ; also, that Sir John Hall will again assume the Premiership, and Air Whittaker the Attor-ney-Generalship, as the latter has a strong dislike to a residence in Wellington during the summnr months. It is more than probable that Mr Johnston will act in conjuction with Sir Dillon Bkll, our Agent General in London, in raising the loan. Writing on the same subject ihe New Zealand Times remarks : — •' We trust that, when the new loan is raised, our own Agent-Gener.il will be the medium through which it will be distributed 10 the public, and that the lar»e sums which hitherto have been squandered on Crown Agents and oth rs wiU be saved to the country. Wot the slightest difficulty need be experienced in taking this course. Let the Agent-General be provided with the necessary scrip, with power to r--tail the loan to the public, instead of putting it into the lianas of financial agents, and he may with comparative ease retail it at 102, or higher. It seems such nonsense to talk about this colony being dependent upon any house, or any combination of financial houses, for a loan of four millions when there are between four and five hundred millions of money belcn'»in°" to the public lying in the joint siock banks in London waiting for an investment. We hope tie Colonial Treasurer will see Irs way to break through vested interests in this matter, and, if he does, the result will be for him a great financial triumph. We have been given to understand that the matter has been under his consideration, and have no doubt of his courage to act on the opinions he may have formed ." If this line of conduct is followed up we have every confidence of its success, although the obstacles likely to be cast in the way by the gentlemen who have acted in the past as Crown Agents, will no doubt be considerable, as the} will be deprived of immense arm easily-ac-quired profits, if the Colony is pernit»ed to discover that their valuable services can be dispensed with. However, we have every confidence in Mr Johnston as a business man, and bis commercial experience will stand him in good stead, even against the brilliant firm of Messrs Juliav and Sabqent, Crown Agents. And when supported by Sir Dillon Bell, his uccess will be a certainty, and the ! Colony thereby considerably beneiiti.ed.