Manawatu Herald. TUESDAY, JAN. 14, 1902. Borrowing.

Manawatu Herald, 14 January 1902, Page 2

Manawatu Herald. TUESDAY, JAN. 14, 1902. Borrowing.

If it is unwise for the people collectively to borrow, under any form of government they may possess surely it is more unwise for individuals to borrow. The coming politicians who are going to urge the redemption of ‘our loans within the nest tweniy years will give the settler plenty both to do and think about. In our early days we remember the old adage of “he who goes a borrowing, goes a sorrowing ” being dinned into our oars, but on entering a colony we found the principle‘just reversed. We may be very sure that the majority of money made in the colony has been made with borrowed money. It was a rare exception for a colonist to be a man of wealth, but very many belonged to families who had wealth who were glad to lend amounts to young r sons to develope new country. It paid both the borrower and the lender. Many industries, sheepfarming especially required money to make the enterprise pay. A settler with little capital was unable to take up .a fair-sized run and stock it sufficiently to pay rent. With additional capital he could do both, and borrowing paid. We have instances in dairy farming similar, as to make milking pay a settler needs thirty to forty cows, to obtain which money is needed. With these cows a settler can earn a fair living and nay a fair rent for land, and thus is doing good for the colony, without , the capital his enterprise is chocked and by labour he can only earn enough to keep himself. Borrowing is legitimate in this instance. Under somewhat similar circumstances a very large amount of private borrowing has taken place to the great advantage of the borrower and the lender. Can any thoughtful person be found to suggest that such a process; for the advantage of the individual and the colony should cease '? Those who find fault with the present government for borrowing indirectly blame them for obtaining 62,1580,000 to lend to Settlers for the above purposes. That a very large business is still done in lending colonists money by those holding plenty in the Old Country is shown by a return for the year ending 31st March, 1900, which showed that mortgages to the value of £7,43-4,7653 were registered in the several land registration districts of the colony. If our financial critics would only be honest they would bo careful to remind their readers that included in the amount of our indebtedness are amounts which will in time prove most valuable assets, in so much that these same critics have been worrying the government to increase the debt of the Colony to acquire more such assets. We are referring to the debt due for railways, which amounts do £16,703,887, almost one-third of the whole of our liabilities. The debt will be increased by the purchase of the Manawatu railway, yet we are continually being told our lebt should be paid off. If the now financial party gets into power at the coming election the future profits on these railways will be lost as that party wants the colony to be freed from debt! The railways are paying nearly 3T per cent on their cost, thus the taxpayer is only paying one per cent on a third of the public debt of the colony, and our amateur critics fancy this is what is bringing the colony to ruin ! A large portion of our debt must have been used in erecting 7,249 miles of telegraph line, yet this expenditure has been a profitable one. As we doubt very many will exhibit a desire to join the new political party to be formed for present settlers to liquidate the liabilities of the earliest settlers, or to relieve our descendants from taking a fair share of the past and present expenditure, it is needless to drive these points further home, bat were it necessary it could be shown how very much advantage judicious borrowing has been to individuals, public bodies, and the State. We expect to find our Public Debt growing instead of diminishing, in the future. It would bo, undoubtedly, “ simple ” to pay off all our debts, but it would be exceedingly unpleasant.

Mr Hennessy advertises for a scutcher.

The Borough Council notifies the appointment of Henry Bradcock as Ranger and Dog Tax Collector. E. J. Walsh are still holding their sale in McMillan and Rhodes old shop. As will be seen from oar advertising columns great inducements are offered to purchasers. The entries for Messrs Abraham & Williams, Ltd., sale at Palmerston and Levin are advertised to-day.

The second half-yearly sale of Me ■ ; s Watchorn and Co., the Cash d- • and clothers, of Palmerston, is now (.n and, as usual, demanding great alien, ion.

Dr Graham has secured a consulting room in the late McMillan, Rhodes’ build ng. Notice is also given that all overdue subscriptions mast be paid at once.

Horse-owners are reminded that acceptances for the Foxton Racing Club’s meeting must be in the hands of the Secretary by to-morrow evening- .

Our Hemp cables shows a fair advance, which makes the business look sound for beyond June. An advertiser has a dog cart and harness for sale. The dog cart is built of kauri and ironbark by Mr Fuc-bett of Wellington, and will carry four persons. It is as good as new. To be sold cheap. At the Dannevirke races Emulation persistently refused to join the field in the Scurry, and bucked her jockey off. The Nicaraguan Canal Bill has passed the House of Representatives by 308 votes to 2.

The Belgian pigeon which won the great race from Burgos, in Spain, to Brussels- did the 700 miles in 14 hours.

We are glad to welcome our popular postmaster, Mr MacDerniott, back from hisjholidays. Mr George Archibald, the young and obliging bank clerk, has left for Sydney, having received the sad intelligence of the death of his fatherlie will probably be absent for some weeks.

A substantial money grant has been made by the British Government to Charles Lillywhite, who was arrested in New Zealand and deported to England on a charge of murder at Colchester, and who was afterwards honourably acquitted. “ God has made the sexes distinct,” says Dean Hole of England, “ let not the tailor confound them. That modern institution. 1 the man milliner,’ with jacket, knickerbockers, gaiters, pot-hats, stick-up collars, tie and pin, has laughed law and precept to scorn. Add a dog-whip and whistle, a case of cigarettes, and a book for bets, and behold a hermaphrodite, neither ‘fish, flesh, fowl, nor good red herring.’ ” Japanese florists have succeeded in cultivating a rose which looks red in the sunlight and white in the shade. A Departmental Committee of Inq has condemned the use of cor d ■, 'uving to the rapid erosion it c ■ in guns, and has recommended t 1 • ‘of powder at least equal to tiia. iMcd by any foreign army, thereby denuding the life of the weapons. Mr France, the contiactnr for the additions to the Post Office Hotel, which he has almost completed, has secured the contract to erect a re's ; - dence on Park Road for Mr Oliver Austin.

The following officers have been appointed to the Bth Contingent:— Lieutenant-Colonel Davieg to the command. Captain Bartlett commander of the North Island Battalion, with Captain Poison second in command. Major Chaytor is to have the command of the South Island Battalion, and Captain Jackson will be second in command. Captain Bingley, of Canterbury, has been appointed the Brigade-Major of the contingent, and Captain Matthews and sergeant-Major Rogers are to be staff-officers. Alice Brown charged with setting fire to a building in Riddiford street, Newtown, with intent to defraud, has been committed for trial.

SANDER and SON' EUC vLPYTI EX TRACT.

According to reports of a great number of physicians of Ihr hightca'. professional standing, there are offer-*-:! Encalpy'i Ex tracts which possess no'curative qualities. In protection of the world wifi? fain a of Sanders and .Sons preparation wc publi-ii a few abstracts from Lhes? report;-, which bear fully out that no reliance can b-: placed in other products;—Dr. W. B Rush, Oakland P a., writes It is sometimes difficult >0 obtain the genuinearticle (Sander and Aon;-;). 1 employed differ-m other preparations; thy/ lu 1 no th'impolitic value and m effects. In one case the effects wen-similar to the oil camphor;-., the objectionable action of which is w-d known.” Dr H. 15. Drak:-, Ponhnd, Oregon, says—“ Since I bream- acquainted wi'h this preparation (Sander and Sons) I u.-e no other form of eucalyptus as 1 thin'.: it. is by far th - best.' 1 Dr L. P. Pee t.i.-i. Lynchburg, Va., writes—“ lower a--d any preparation other than Sander and -mu-, as l found the others to lie almo-u m-bess. ’ Dr J. T. Connell. Kansas City. Kan?., -ays —“Caro has to be exercised no .0 bsupplied with spurious prcn-»--;. ; r s

done by my supply -druggis--.” D- i ;l Hart, New York, aay.-s—“ D. goes wMioi. saying that Sander , and Sea-*’ Gucil/n i Extract is the best in the market.” Dr James Reekie, Fairview, N. M.—•“ So wile is with me the range of appheatinn; of Sander and Sons Eucalypti Extract th 1 I carry, it with me wherever 1 go. I fin i it mo ,: useful in diarrhoea, all throat troubi- d br uo.. tis, etc.”