The Manawatu Standard (PUBLISHED DAILY.) The Oldest Daily Newspaper on the West Coast. TUESDAY, NOVEMBER 3, 1885. THE DEPRESSION.

Manawatu Standard, Volume X, Issue 1497, 3 November 1885, Page 2

The Manawatu Standard (PUBLISHED DAILY.) The Oldest Daily Newspaper on the West Coast. TUESDAY, NOVEMBER 3, 1885. THE DEPRESSION.

His Excellency the Governor, when speaking at the closing of the Wellington Industrial Exhibition, remarked that it was customary to say that there was something like depression m the Colony of New Zealand. Well, he could only say if they were suffering from a depression they bore it very calmly ; and further, if they were, it was m common with all the nations of the earth. What the reason might be he left to political economists to tell ; but of this he was sure — that whatever might be the cause at the present time, they were going on increasing m prosperity as time advanced, and that they had only to take that prudent course which all men 6i business adopt m their private affairs to see this country advance by rapid strides to that prosperity which he was confident was its destiny. They heard now, and some of them knew, op wool having gone down m price, and that wheat was very low m the market quotations. They knew also that frozen meat had not answered the expectations held of it. But he ventured to think that these rery facts would conduce eventually to the prosperity of the country, as leading the people to think of other means by which the prosperity of the Colony might be advanced. He went on to remark that there was no fear for the future of the Colony, but they must nob go too fast. Bearing m mind the result of this Exhibition, was it possible that a .country capable of bearing millions of people— he said ten millions of people — was it possible that a country of such a character could be m a permanent state of depression with 500,000 people m

it? He said it was practically impossibly, and he repeated that there was nothing to fear 'm regard to the future of New Zealand Mr Stout had asked them what would j. this country be 20 years hence ? He echoed that question, and he would say it would be such that the youngest, then amongst them wpuld\ not know the country.