The Feilding Star. THURSDAY, NOV. 5, 1885. Signs of the Times

Feilding Star, Volume VII, Issue 63, 5 November 1885, Page 2

The Feilding Star. THURSDAY, NOV. 5, 1885. Signs of the Times

That feeling of utter helplessness which has for the past year or two exercised such a paralysing influence over the minds of many of the most energetic of our fellow colonists appears to be giving place to a spirit of energy In Otago and Canterbury it is now observable that landed property is a marketable commodity, and although the fictitious values obtainable five or six ago are not reached, yet sales can be effected at a price. This will permit struggling farmers and others to relieve themselves of their burdens of heavily mortgaged land, and either enable them to make a fresh start in life, or allow new men to take their places and work the land profitably and so add to the general wealth of the country. Men are beginning to discern that the worst is over, or that they actually know the worst, which in cases of this kind, amounts to the same thing. Where two such provinces as those mentioned above begin to clear themselves of the gloom which has overshadowed them for so long, it is safe to assume that other parts of the colony, which have even superior advantages, will, and in fact they are beginning to look at their future as having a brighter coloring. We gather from the speech of the Chairman of Directors of the Bank of New Zealand, make in Auckland a few days ago at the half-yearly meeting of shareholders, that it had been long apparent to the bank that its large and increasing resources and operations necessitated a wider field than New Zealand offers. Looking at the assets of the bank (£14,800,000) it was obvious they could not be fully employed in New Zealand, therefore they had. to employ two and a half millions in Australia,, and about four millions in coin, and in London. Thus it would be seen they had over, seven millions sterling not represented in New Zealand, or if represented, only in coin. ' In referring to the present depression of the colony , no uneasiness should be felt on that account. It had been a matter of wonder how quickly thecolony recovered from periods of depresion, and notably, Irom the very severe one of 1 876. Population in the Old Country was now getting so dense that the people must have, an outlet, and there was no doubt In a very little time we should see an influx of good immigrants seeking to establish themselves, in a new home. That might be looked upon as. a sure guarantee of a return of prosperity to the colony. Looked at in a liberal light -the figures we have quoted show that, at the least, this bank alone has a sum of four! millions to be employed m New Zealand so soon as available channels are opened by which' it may be conveyed j over the length and breadth of the land. This will be far better towards, assisting «r creating general progress than even a ÜberaTpublib works poli icy, which is now understood to mean increased taxation for the people. The confidence which is now germinating in tiie south, and the encouraging address, quoted'above, made in Auckland, must gradually spread their influence over both Islands, and create an easiness in the money market to which it has long been a stranger. -It is a pleasure to note that: better times are at hand, and that the evidences of their approach are certain and unmistakeable.