The Oamaru Mail WITH WHICH IS INCORPORATED THE NEW ZEALAND AGRICULTURIST. TUESDAY, APRIL 29, 1879.

Oamaru Mail, Volume IV, Issue 946, 29 April 1879, Page 2

The Oamaru Mail WITH WHICH IS INCORPORATED THE NEW ZEALAND AGRICULTURIST. TUESDAY, APRIL 29, 1879.

Tttit Colony mrwt ftav« another lian. On this rjuestion we arc all agreed, whatt,v«c may W «ttr political leaning vn other question* ; and. 3" far "*' tn al£,>w ' ing either superabundant ca»ttr>n or modesty tn> circumscribe the amount that we shiult seek, we should, armed w » 6tt 6tte confidence whnch the possession of ample seencity inspires, approach the onewmfwrtably wealthy money tender «>f Great Britain. Why should our commerce • fiirutuiff*. and wur si'its remain but parti.dty devet'-ped, t'»e ot capital, when in M» monetary institution* ,„e lU'eat Britain money grows musty j awaiting foreign demand. «« m« ' agreed that we must burro*, ami we think 'few, if any. would s»y that tW sWM be any delay in setting about ! fcns»«nw«t». T»» hungry wan » w,t ®' edible gfutb np<>» it wewht ,wt »««***& ! protracted and abstruse reasoning against 6t»e possibility of Wins able to. bring tin? : fruit t»' the ground, but tie would, without, delay, cencert measures- far #pp® hrenger ty its means. ftf»» it with the Cotony. We would be stunting mtr growth and ruining o«r commerce by allowing groundless arguments to prevent (our iro mediate appeal tt» *he Brittsb capitalist for more money. He » inviting us to invest hts Browed capital to the mutual advantage «E himself an< * the Colony. What art* our feeling when we read that the " Hank minimum is Uand a half! "--We fe-t like a hungry nuwii reading » biff of fare prepared W a tfeeneb c»ofe. If we can row fe«r*»w twmey at twelve and a half. and even fifteen and twenty per eent.. we ar® raised f.<» th«? sevanttt Fieav»ft. *•" svyat » »<wr ut't'd . wfvilsfc mwney is a fcetat fone tittte of tin*e rate*- I)tsc«saiivys6 fengtfi the eansei of the present C*d«ntal monetary srisU wouttli t>tr of no. avail m nv. We coatd only profit sttrfi a p»o«es» inasmtwtt as it might eiustde i» t»> svvoki th» *fu>ak ttpt>o which wsf have now by«otue strafntcd. !swt let «» Set r«bi«whed first, and then ii wmtM W: politic ti> take ttiw lw#ring» of the «*astf of our (foaafctr. We are not liadly off, ; amy Hiore than b » CMttimeriiial man who could m««t alt Fib liabilities and leave a large surplus, if fclic money »« tn the eeuntry to devots t" the pttrcEuue | ,of his rsdamlant wjwbs. »r4 | his emt>arr:i3»nient; nntil the mariiit j fottld reeover its former activity thrmts.h : ilMtftotuti? of demand or other sattsps. Hut | there' ta not the money. Everybody is alike', j i£ we esuept the laboring pjan. wh™ f«»; not yet so keenly felt the and j wilt not dt> 9<:>' to' any serious estent. if we i [at one® seek Iwlp tR the London market. | i in otfot that we may W ptaeed in a P"=«' | tiott t» tiwry oot tßpwlwetive- w»r?w ac* i wording to the pf«g»am««» "f fhi" rr^-nt; government. The " 4 Uil -i. nwlways projected by Mr. Matandrewj would revive trade, the v»-*tn and pri- j vattv lan.U of the Colony would 1..-j opened up, And wne system should | fee adopted whereby tfw> »gri- j uultnriist might W tndueyd t»> invest | In the former. If sueh could W »attolt«»; : Shut what ha* been said and written »Wt ! the fertility of the soil and th«r advantage* this Colony otfcrs U thcrr »true-, they would tin trie here in eh"«*ifuU, vith thtf- capital n«w»»arv not »>nfy tn i>try land, bat to- it. fhiw »>»r p*"^»* tk)n would b« entirely etuwged for the better,, and the twk of ag-a'm drifting intoar present penuctotTS pf«»it»«i» w»uttl reduced, these would aU contribute their ' ! ijuota to the Ibbility that, we have atreaily ; inetirred and to- the expense of g»vern«vjr : the country, whilst they would fiel E * targely to. build rtp ms export trade and bring about a nearer approximation in the amount rewived for our exports. «nd that expended for our imports, ♦'ur p-esetvt position is one evidently not anticipated by the present ffovernnient, or the tafe one. I'Vie Atkinson party w-wtd have allowed the country f<> Hwy j. kn«w the low eondir.iou of the htuuiees of the Colony, and th<-y intended, if they were pevni'ittcd to hold otlii-e. to make a , virtue of necessity, and not attempt for a season t«- borrow in a market that showed siV'n* of disapproval of »»r nntenvittini boiM;owing propensity. E'-ut the present ('tovernment, with more ard->r than good Judgment., feeling tfiat the admirable : p„:bU«= works policy had only been par* : tially carried out. with their finances in a state, essayed to accomplish «w* possibilities. If they but been permitted to borrow as liberally as they at first in- ; temfed t« »W. they would have been aMe f' to proceed with tU «Htwtrw«tion <s>f the jv railu'aySv and the Muwtf *fn.-en averted, foe a time at h':vst. ttut the whotd f'£ tfie amount 1 proposed to be U'rv<n*ed »« necessary, ami thv» Opposition that ; t>nt they were resotved ti> cripple th* ' Jovernment in the carrying out of a th« ittecess of which would tww entitled t.hen« to praise tint les» thaw that whkh hits b««R bestowed upon Ms. Vogel as the initiator «* pro pounder of Che Public W»>ffe»jp»di«y. • B r iw»t eH|>«rience proves beyond de«l»t that money exiwutled in tlie coii.st.ruyti«n railwaysi» welt wed spent in constructing .»ilwaysthrongh pr\*ivte property on the sea board, how nitsi'ii Wvtrr spent would it W in the construction m oilways that would of«o up lite- w;i ste liiiub tfve interior. The, , Colony now wants a loan to this f,o be d».ne s awl. immediately en it* a initiation, it ulundd tarn Its attention toiadtwing with capital to. cmnt* hert? fr«n» the ewwntry. We have the tind and pvery other atlvaniage i {hat a nation coald Atail*. We new only J want a foaa--tfe» aßMittat to hs tarelnDy ,e«B«ip»tßd. ty takiftg *h# whole of the | Giri6UßßHtibanciss of comitfy into and net bf «te of thomb —railwapr fttitrWftow of the soil to i« th# «t»ltiwrtio9 of the country. To eo c8«&r tM* natter, Pa»ti«nfflit ihoold ow«ft in Jbxmw SMuncot* an pretty

to recover our financial vitality. This may or may not be worthy of credence. Of" course, no colony possessing our natural ndvantaacs could remain long in the " doldrums?' But it is unlike New Zealand's commercial men to stand by and neglect to make use of ever}- stitch of canvas in order to again catch the favoring breeze, to neglect to stretch forth their hand* to receive the antidote for the malady from which we are suffering.