The Manawatu Standard (PUBLISHED DAILY.) The Oldest Daily Newspaper on the West Coast. WEDNESDAY, APRIL 28, 1886. SIR JULIUS VOGEL IN WELLINGTON.

Manawatu Standard, Volume XI, Issue 1694, 28 April 1886, Page 2

Manawatu Standard (PUBLISHED DAILY.) The Oldest Daily Newspaper on the West Coast. WEDNESDAY, APRIL 28, 1886. SIR JULIUS YOGEL IN WELLINGTON.

The Colonial Treasurer addressed a meeting m Wellington on Saturday evening. The report of his speech occupies some five and a half columns of the New Zealand Times. We have perused the greater part of it with a view to extract some portion that would prove of special interest to our readers. Not a word was said about the future policy of the Government, or the measures likely to be brought before Parliament during the session which will open m a few days' time. He attributed the depression to " a panic started by thejate Government," increased by a fall m the price of staple products. Why did he not honestly admit that it was due for the most part to the burthen of interest the Colony and the colonists are paying on borrowed money ? He went on to remark that '* enterprise and confidence were required m the Coloriy v now." ' But has he not himself by his reckless policy destroyed much of the enterprise and confidence which other, wise would have been m existence. With regard to Sir George Grey's proposal for an irredeem able * paper currency, Sir Julius Yogel said he would qffer it the most emphatic opposition. Experience m other countries told them what the effect of an enforced paper currency was. There would be an increase m the value of ordinary articles of consumption, and increased prices of every thingsuch a state of things as would lead to a single determination and desire to redeem the currency. In the Argentine Republic a system of paper currency was now m force, and he noticed that the newspapers there attributed to it all their losses, high prices, high interest, duties, etc.^ He referred to Captain Russell's motion for the half million reduction and read a list of the works, which would now be m operation ;if the reso|ution, had not been carried. Amongl them appears the Napier, Woodville, and Manawatu Gorge line, «£65l;()00, and three cpjitracts of the North Island Trunk Line, .£48,000. Naturally, the speaker eulogised Mr Ballance's native policy, as working upon the good feelings, and not upon the fears of the natives. He went on to say i that his "colleague was taking a course which will elevate the people of the colony as much as the policy of Major Atkinson and Mr Qrniond tends to degrade and humiliate them." Now, these desparagirig references toother public men were not m good taste, nor are they like Sir Julius Vog el's usual sentiments when alluding to his political opponents. In speaking of Mr Ormond he said: — "It is Mr Ormond's misfortune that when he allows his oratory full flow he cannot prevent the natural bitterness of his composition from rising to the surface. He surprises me, and his position is quite inconsistent with communications concerning him, and with him during 1884, which are shrouded from publicity by the veil of confidence." We can but regret that Sir Julius so far forgot his own sense of honour as to speak m this strain. He appeared to attempt to regain the favour of the meeting by eulogising the late Sir Donald McLean and Sir George Grey. With regard to the question of cutting up large estates, a favourite theory of Sir George Grey's, the speaker said that it was, he believed, a fact that a very large number of property-holders holding large estates did not require very much pressure to sell, so that these estates might be cut up and placed within the reach of those who desired to obtain small farms. The difficulty was. however, arranging for roads and for giving such a title as could be given by the Crown. He was rather of opinion (though he did not wish to express a definite opinion that nightY that without forcing upon large owners the necesr sity of parting with their properties, a measure might be introduced m which the Government, with the, as. 6ifitancc of the loc»i bodies, Land jjoards^etc,, might 80 facilitato the

operation of cutting up these large estates and arranging for roads, etc., and clothing the land with Crown titles, that encouragement would be given to a large number of large owners to throw open good land for farms, to those who were desirous of following agricultural pursuits. He believed the " one farm far one man* 1 principle advocated by Sir G eo rg b G he y would tend to encourage sympathy between town and country and to promote settlement generally. 'To other special matters referred to m Sir Julius VogelV speech; we must refer on a future occasion. .