The Feilding Star. THURSDAY, SEPT. 2, 1886. War and Money

Feilding Star, Volume VIII, Issue 35, 2 September 1886, Page 2

The Feilding Star. THURSDAY, SEPT. 2, 1886. War and Money

The present state of affairs in Europe whero war may break out at any moment, is of vital importance to this colony. The new loan, which was authorised last session of Parliament, has yet to be placed in the London market, and should hostilities commence, great difficulty would be experienced in placing it. In fact it is doubtful whether colonial loans would be negotiable at all duriug a war panic. We do not question but that the Colonial Treasurer has already anticipated all the possibilities or difficulties likely to arise in such a case, and is pushing on the work with all the diligence and acuteness of an accomplished financier ; but events at Home now follow each other with such startling rapidity that it is illadvised to permit of any delay. If fey any mischance the now loan, and that loan authorised for the construction of the North Island Trunk Rail- : way, could not be raised, the consequences to the colony would be very serious, so mucli so indeed that it is impossible to conjecture what they would bo, or what the fiasco would end in. We have every confidence in the capability of the Government and country to pull through eveu the most unexpected financial difficulties, but in a case like the one we are now considering, they would have a terrible struggle to do it. I Since the above was in type we have learned from the Wellington Post that the new Loan Act, and the usual authorities to tho agents to raise the loan under it, were sent home by the last 'Frisco mail, the day after the Governor's assent was given to the Act. As to the precise date of placing the loan upon the market, the Government will doubtless be largely guided by the advice of the Crown agents.