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Lyttelton Times, Volume VI, Issue 367, 10 May 1856, Page 5

To the Editor of the " Lyttelton Times."

Sir.—Your correspondent " Agricola " reminds me of a scene in Buhver's novel " Tlie Caxtons," in which Uncle Jack has failed in a speculation, having used in the said speculation money belonging to others. On being blamed by his creditors, Uncle Jack excuses himself on the plea that he intended the speculation should have answered, and actually has the impudence to ask his brother and chief creditor to lend him some more money to commence another speculation, promising by that means to pay back again all that he has lost by the former one. It is much the same >vith '' Agricola," saving that he is more barefaced even than Uncle Jack ; '• A gricola" having something, viz., produce, wherewith he can repay the parties with whose money he has been carrying on his speculation. But merely to avoid some loss to himself, he asks his creditors not only to remain without their money, which they have allowed him the use of, but actually to put him in possession of more funds, to enter into a further speculation, which may turn out to be an equally unprofitable affair. Then, " Agricola," to lower the present high price of labour, proposes to enable the farmer to pay the present high rate of wages. Now, £ir, this is all very well in talk. But 1 am sure your friend " Agricola" and his brother farmers are made of better stuff than he would have us believe by his letter. The fac-.t is (and there is no mistake about it) that we have just now come to the time when the agriculturists will have an opportunity to shew the truly English blood they have in them. It is hard, very hard, lines for them, there is no doubt; but let them only make up their minds to the worst, put their own shoulders to the wheel, and they will pull through after all. The very reverse of" Agricola's" is, I think, the best course for Hie farmer to pursue. I will quote a paragraph from the Neio Zealander, which will, I think, tend to shew that, ins'.ead of waiting for better markets, t: c wisest thing for the farmer to do is to get his grain thrashed out and sent into port, so as to be ready to put on board a vessel immediately on her arrival : —•

The present aspect of the Australian produce markets is exceedingly discouraging to the New Zealand grower*—Potatoes are quoted, in Sydney, at «i figure which would not cover freight and charges ; and, in wheat and flour, there is not merely a tendency to go lower, but there is a disposition to draw supplies from the corn growing districts of South America. Our own native growers, are, we regret to say, giving an impetus to this movement, by the obstinacy w Ih which they refuse to sell at present rates, in the idle expectation that the famine prices which have so long obtained, are never to be relaxed. It is by underselling all competitors that New Zealand can alone hope to become the grannry of Australasia ; and though such an attempt would, under existing rates of labour, be an impossibility with the European farmer, still there is no reason whatever to prevent the native grower from becoming rich at a price which Australian consumers wo aid cheerfully pay.

Why, the master or owner of a vessel would give sixpence or ninepence a bushel more for grain, if he knew he would only have to keep his vessel waiting three or four days, instead of the same number of weeks, which latter is the least time a vessel is generally kept waiting in port for produce to come round from the river.

Information from eveiy quarter goes to prove that agricultural produce will fall, and that Very low too ; consequently, the farmer would do well to realize quickly. There is one thing however, farmers should avoid, (i. c.) selling their produce for export, except through a known responsible Agent in the province. As they then in case of credit

being given, have a resident in. the colony lo fall back upon, should the cash not by forthcoming in due course. I see in today's issue of your contemporary, the " Canterbury Standard," a letter on this subject, signed, R. E. M. Truly an accusative kind of thing that same letter is, especially as regards our only Monetary Establishment. I hope that monopolizing undutiful closefisted Establishment will get over it.

Yours &c., Matter of Fact