RESULTS OF THE BERRY POLICY.

Globe, Volume IX, Issue 1234, 16 February 1878, Page 3

RESULTS OF THE BERRY POLICY.

If any doubts had been entertained as to the serious character of the blow which the Government has struck at the prosperity of the colony, the events of the last few days (writes the “ Argus ”) must have resolved them. In Melbourne, Geelong, and elsewhere valuable properties have been brought to the hammer, and have been paused in for want of buyers, while in the few instances in which sales us ere effected sums far below the nominal market value have been accepted. The same cause is producing like in a different direction. If people do not think it wise to purchase houses, it is quite certain that they will not care about erecting them, and it is evident that a period of stagnation in the building trades is approaching. Contracts which have been entered into will, of course, be completed, but until public affairs are in a more secure condition, it is not likely that many fresh works will be entered upon. The severity of the check which has been placed upon private enterprise i shown by the fact that building materials of all kinds are exceedingly difficult to dispose of in the market. In perhaps the moat important item of all —Oregon timber—a decline in value fully equal to 25 per cent, has taken place since the issue of the memorable “ Government Gazette” of January Bth, and consignees of shipments to arrive are at their wits’ ends to know what to do with the expected cargoes. This unfavourable aspect of the market confirms the statements which we hear on every side about the suspension of building operations. What will the masons, bricklayers, carpenters, plasterers, and the workmen belonging to the other branches of the building trade, say to this unpleasant but perfectly natural consequence of the Berry policy ? They do rot immediately feel the pinch, because there are jobs in progress which must be finished, but before long they will be complaining of want of employment, and the absence of the means with which to feed and clothe their families. They will then be able to comprehend the injustice which has been done to the civil servants, and unless they are wilfully blind they will know at whose door the reckoning lies.