The Manawatu Standard (PUBLISHED DAILY.) The Oldest Daily Newspaper on the West Coast. MONDAY, FEBRUARY 15, 1886. THE COLONEL GAMBLING POLICY.

Manawatu Standard, Volume XI, Issue 1635, 15 February 1886, Page 2

Manawatu Standard (PUBLISHED DAILY.) The Oldest Daily Newspaper on the West Coast. MONDAY, FEBRUARY 15, 1886. THE COLONEL GAMBLING POLICY.

The Wellington Evening Pr«as, referring to the conclusion arrived at by the Sydney Morning Herald, that thisjColony has abandoned itself to Sir Julius VoctFL and his gambling policy^ consiers that, judged from the circumstances and reasonable inferences, such a' conclusion is quite natural and justifiable. Our "Wellington contemporary proceeds to remark that it sincerely trusts the conclusion will be a mistaken one ; but it is absurd to blame an outside observer- fqr | arriving at that conclusion when we find the Ministerial . organs m New Zealand openly advocating the borowing of any number of millions and the payment of interest out of loan, and loudly asserting that the country is with them. We have ail along maintained that the country is not with them ; and if the people are only led boclly and honestly, they will yeject the gambling policy. But it does not look very encouraging to see even papers which call themselves, independent anf profess to advocate economy, paltering with the question and declarinsr themselves m favor of " a progressive policy and moderate borrowing for the judicious construction of trunk railways" m particular districts. This is neither more or less than shirking the issue, and it is scarcely any better than an approval of Sir Julius Vogel's whole programme. This is exactly what is causing so much distrust m the prospects ol New Zealand m other countries. The article m the Press to which we refer thus concludes i— We know top a fagt that very large sums are already being withdrawn from New Zealand • investments, and placed elsewhere even at a considerable sacrifice of interest. We heard only yesterday of one investment of £100,000 which had been thus transferred, and the reason given for it was that the investors were afraid that there was going to be another ten million loan, and that After that there would be a crash. This is an opinion which is, widely entertained m Australia and m England ; and we regret to say it is only too well warranted. It is precisely as we have pointed out again and again. The mere fact of Sir Julius Yogel being m office, and propounding such a policy with all the authority of the Colonial Treasurer, constitutes a real mischief and a real ganger to theoolr.nv. People at a distance cannot be expected to be acquainted with the intricacies of our party, politics or the refinements of a political system by which Ministers are kept m while their measures are kept out.