THE MIDLAND RAILWAY.

Greymouth Evening Star, Volume XXXI, 21 August 1901, Page 4

THE MIDLAND RAILWAY.

The question of compensating the Midland Eailway debenture-holders is again attracting attention. In the course of an article dealing with the matter recently the “NewJZealand Times” says : “ The prevailing opinion in the Mother Country has always been that the deben-ture-holders were badly treated, and it would he idle to suppose that that opinion is of no consequence to us. The position viewed broadly, is simple enough. British capitalists were induced to invest money in a great New Zealand undertaking, supposing, wrongfully, as it proved, that they had an absolutely impregnable security. That security was seized by the Government of the colony, and the debenture-holders now pray for redress. The question to be faced is whether we ought now, as a nation, to deny to the debenture-holders the redress to which they are morally entitled. New Zealand, it lias been said, has now a splendid opportunity of earning for her-

self a reputation for generosity and for absolutely honest dealing, and a liberal concession on our part would go far towards maintaining our credit when bad times come. But it is the broad moral aspect of the question that wedcsiieto see considered, and we trust that Parliament, as tlie keeper of the public conscience, will see that the colony observes at least as high a standard of right and justice as is demanded from the private individual.