The Hastings Standard Published Daily. FRIDAY, DEC. 11, 1896. THE PACIFIC SLOPE.

Hastings Standard, Issue 194, 11 December 1896, Page 2

The Hastings Standard Published Daily.

FRIDAY, DEC. 11, 1896. THE PACIFIC SLOPE.

l ; or the cause that lacks assistance, 1- tin. \vr. >nj,'s that need resistance, l-'ur tlit: future in the distance, And the good that we can do.

If there are times and seasons for the crop of suicides so also are there times and .seasons when men in apparently comfortable circumstances suddenly disappear from view, leaving behind them a crowd of creditors to ponder over the frailty of human nature and the magnitude of their losses as expressed in X'.s.d. Each successive commercial wave whether it be in the form of depression or active speculation carries in its trough some special feature. Thus in a time of depression the fire fiend finds plenty of scope. The trader or shopkeeper finds himself in low water, and apparently just when he least requires it, his house or shop is incinerated. These iires are attributed to a variety of causes, but kerosene and loose rags or paper intentionally lighted are more often the cause. To the semibaukrupt trader the insurance money is something to pass over to the creditors; the fire simplifies the bankruptcy, the destruction of incriminating books and papers is also a great help. The underwriter knows full well the risks he runs when the demon depression "parades the commercial world, and to cover himself he takes into consideration the moral hazard, and though this cannot be accurately assessed in coin, there is no doubt some loading is done to cover the risk. Depression and fires appear to go together in New Zealand so far as our observation extends.

Wheu the wave of active speculation is felt there are many over sanguine individuals who gamble without calcu-

lating the odds, and like all reckless gamblers find themselves in Queer Street. The gambling wave has been felt recently in connection with the mining boom ; the fever heat of high speculation has passed away for a time at least, and just now the mining market is in that lifeless condition which presages death and extinction to speculation. The Auckland Stock Exchange is dull, and the brokers themselves say that it would not hurt them to "shut up shop" for a month or six weeks. It is now that the reckless speculator feels the pinch. Over-laden with unsaleable stock, never-ending " calls " to meet, and with no prospect of an early recovery in the market, he experiences a sensation that is by no means pleasant. lie makes one last clash to recover his losses, and thisventure generally takes the form which is significantly described as " the Paciiic slope." The reckless gambler leaves the country, taking with him as much of other people's money as he can conveniently carry. The money is either begged, borrowed, or stolen — generally the latter. From Auckland there is news that points to the probability of a business man of that City having placed miles of the Paciiic Ocean between himself and his contiding creditors. It is no new experience to people in New Zealand. Again and again it has occurred, and we need mention a few only, such for instance as the Hitting af an ex-mayor of Wellington, the sudden departure from Wanganui of a prominent Sunday school teacher and business man. It is alleged that even now "Wellington can claim equality with Auckland for it is rumoured that a certain Wellingtonian not unknown in connection with the general election in its earlier stages has disappeared from his usual haunts, and it alleged that with him has gone a good round sum of money the color of which the bemoaning creditors would lie glad to see. The Paciiic slope, the moonlight flit, iind the accidental lire are closely related, and although we make laws to stop these they continue to exist, and no doubt will continue as long as men trust one another. They form the more violent kinds of betrayal of trust, the minor varieties are of hourly occurrence.