MANAWATU EVENING STANDARD POHANGINA GAZETTE. Circulation, 3,000 Copies Daily. FRIDAY, SEPT. 28, 1904. "RAISING THE WIND."

Manawatu Standard, Volume XL, Issue 7916, 23 September 1904, Page 4

MANAWATU EVENING STANDARD POHANGINA GAZETTE. Circulation, 3,000 Copies Daily. FRIDAY, SEPT. 28, 1904. "RAISING THE WIND."

According to a cablegram in the Sydney papers " New Zealand has placed a 4 per cent, loan, amounting to j5820,000, with a eun-ency of five years, at 99, and an amount.of £85,000, with a currency of four years, at par." This cable mes-.' sage was mutilated in transmission to New Zealand, but it was published in a' form which enabled the Opposition to gather that the-Government had been making a determined effort at Home to ■'"raise the wind" so as to tide them over present financial difficulties. The desperate straits the Government are in .for money has induced them to make afurther attempt to borrow from the English money-lender, and it seems they have met with some degree of success, although we foar the conditions are such as to materially assist in destroying New Zealand's credit at Home. In the House of Representatives on Wednesday the Leader of the Opposition made some enquiries regarding the cablegram, and requested the Treasurer (Mr Seddon) to state whether such a loan had been placed, and, if so, on what authority, and for what purpose. Mr Seddon was in a i most obstinate mood, arid was not disposed to give the House any information as to the financial operations of the Government in the money maiket in London. All that could be drawn from Mr Seddoii in the early part of the discussion was the delightfully vague statement, "so far as I know, I know nothing," accompanied by the remark that he was not going to be catechised. Later in the evening the Treasurer, in reply'to Mr Mossey, denied that the Government had given , instruc i tions to place any such loan as mentioned, in the cable, but as the question referred' to the bungled ; message,' Mr Seddon, no doubt, felt safe in maldng the denial. There is little doubt, however, that the information published in the Sydney papers is correct, and that. New Zealand has placed .another loan, as stated. If.this is the position,' Mr Seddon is not justified in withholding the information, although it will certainly, save him the. annoyance, of being rushed by localbodies whose demands for money have caused him -much trouble of late.