Manawatu Standard. (PUBLISHED DAILY.) The Oldest Daily Newspaper on the West Coast. MONDAY, APRIL 19, 1886. THE BORROWING POLICY

Manawatu Standard, Volume XI, Issue 1688, 19 April 1886, Page 2

Manawatu Standard. (PUBLISHED DAILY.) The Oldest Daily Newspaper on the West Coast. MONDAY, APRIL 19, 1886. THE BORROWING POLICY

Mr Montgomery, addressing his constituents, said the borrowing policy was a dangerous policy j and it would land us m a far worse depression. When men that were prudent warned the Government years ago that large borrowing aud lavish expenditure would bring about depression, they wero considered croakers, but the result justified their fears. It was only by prudence, economy, and a return to simplicity of living that prosperity could be established. AH the talk to the contrary about the big loans and their results was a bubble, and when that bubble burst would land us m a greater depression — at a time, too, when those who advocated them would perhaps not bo here. The former loan had induced speculators to purchase property, to mortgage it heavily expectiug a profit and a constant rise m value, with the consequence that they had now to send millions out of the country for public and private debts. Could so small a population do that without feeling it ? Yet some said more should be borrowed, with the hope that something graad would come out of the expenditure. He would oppose the large borrowing and rapid ipendiug polioy.

Mr Joseph Sowry, m a letter to the Woodville Examiner, puts tha very pertinent query, if the cropping powers had not something to do > with the fall m the price of land m the. Middle Island. He asks, is it not a fact that there aie hundreds if not thousands of sraall.f arms which have beon cropped time after time until they can scarce grow grass ; they are not worth half as much as they were tor all the goodness is taken out of the land and iv hundreds of cases the shingle is so near the surface that you cannot subsoil the land. Of course other circumstances may have combined to bring down the price of laud; yet he thinks, that cropping so oft and burning the straw, and never manuring tho land has at least something to do with the fall of price. He hopes that our farmers ai they get m the plough and commence to crop' will not make the same mistake and bleed the land uutil it will take' years to recover.

In his Guide to Justices of the Peace, District Judge Broad indicates pretty strongly his opiniou of mauy of tha judgements passed by magistrates m judgment summons cases. He says : — If oho may judge from the newspaper reports of cases, scores of people have be«u sent to prison since the passing of this Act without anything lik« proof that they have had tho means to pay ■ since judgraout was obtained, and would not, aud this abolition of imprisonment for debt, although a pleasant sound to tickle the oars of the people with, moans fitile, and the writer belie vos that m many cases thero has been no evidence of fraud at all, and some debtors have, therefore, since the pacing of tha Act,. found that there ia stiil 9W\\ ft t,hi»S M j a debtor's prison,, j

Refermng to the meeting between Mr Bnllance ami Tmvhaio, a press telegram says : — Too much importance cannot be attached to the proceedings of to-day, which have been more satisfactory than any of the previous meetings. Tho meeting of to-day has been perhaps the most important over held withTawhiao, and promises to bo the most satisfactory. He is evidently most desirous to bo on friendly terms with the Government aud inanifestH the nttnost confidence m the Native Minister.

A letter has been received by Mr Filraer from P. Doddy, dated Kiuikihi, I3th April, m which the writer states his intention of stopping all prospecting till he can prosecute his enquiries unfettered by the natives. At present he cannot move without being followed by natives, who insist that all gold obtained is theirß. Doddy believes that if he struck anything the natives wonld simply bundle him off the place aud then keep watch over it themselves. He suggests that the whole country should be thrown open under certain restrictions, but under the present system he will not do any mote work. He has found indications of gold m various places.

Some of the road boards m the country districts appear to havo overlooked the provisions of claune 31 of the Road Boards Act, 1882. This clause provides that a general electiou of memberg shall take place every throe .years, m the first week of May. v This is the year alluded to and as 14 days' notice have to be given, it follows that notice must be published not later than 23rd inst. There is yet time to. comoly with the Act.

It is said that next session a bill will be introduced m Parliament providing 41 that the nominated representatives of the Government on the Insurance Board shall be reduced from seven to three, the three being the Solicitor-General, the Secretary of the Treasury, and the Public Trustee ; the Solicitor-General to be ex officto chairman of the board."

As it is announced (says a Wellington paper) that Sir Hercules Robinson is to return to the Cape m June, it is evident that there is no immediate intention of transferring Sir William Jervois to that colony, as was reported some time ago.This will be satisfactory to his Excellency's many friends throughout New Zealand.

The Halcione and Waimea have left tor London laden \ntfth Newr Zealand timber. " Puff Mm ths Vreksy\my&; — " There's more m timber than there is hi gold or wheat ! It's steadily ■ rising; m price m E a rope, while most colonial products are steadily falling I ' ' ' :

A great deal of property in ' and around Wellington has been changing hands lately. One firm of solicitors, who do a large conveyancing business, state that they have had more transactions m property during the first quarter of the present year than for any similar period for a number of years.

The railway line from Mastertoii to Mauriceville is expected to be. open for traffic by May 24th. The platelaying and ballasting is nearly completed &b far as Mauriceville station, beyond which point the permanent way will not be complete. >

A rush is likely to take place from Auckland to Western Australia, as the miners up north are said to be much excited over the rumours current.