Malbourne after the Carnival.

Poverty Bay Standard, Volume XI, Issue 1264, 1 February 1883, Page 2

Malbourne after the Carnival.

(FROM A VOLUNTARY COXTRIXVTOBI. MELBOURNE, Jan., W. The all-absorbing topic of conversation U the failure of the loan ; and the feeling of orwsensitiveness that, reflMtively, tbs Colony of Victoria hM received a sever* rs> m. buke, if not a snubbing, on the money Hgh- ' ways of the world, grows more Intenw as each telegram is published from Lonion. showing the progress of the tenders. Btfar it hM been slow enough, the latest affimiM from the Agent-General stating that the mtns tendered for are “ very small." All Halbourne, too, feels “ very small.” Bank par'ore have mysterious whisperers, and uswUling listeners. Flinders Lane don t likethe look of things at all; and the Colllns-afreet “House." under the verandah, is shaking * ith financial storm. Amongst other things of an exciting and disturbing nature, is the corresponding success that HM attended the floating of your own loan ; and did the matter not bear so serious an aspect, ths silly arguments of disappointed Victorians would he a good subject for mirth. The " Age " is the most rabid of the papers, snd it gnaws at the bone of damaged credit, with diurnal growls, dismal and dog-in-the-mangur-like to t degree. The “ Argus " and “ Daily Telegraph ” also have their opinion, agreeing with the “ Age,” that the New Zealand Government attempted (and, by result, succeeded) to “jostle” the Victorian loan out of the market. The latter paper, however, wm bound to acknowledge on Saturday test that: \ “ The fact that the subscriptions for the Now * Zealand loan have been over 50 per oeat. larger than the amount required ny that Colony, would suggest that their financial arrangemente* are better than those of Victoria,” but it adds, “There is not so much difference between the minimum price declared for both loans, and the average difference in the price of the stocks on Change in Victoria and New Zealand, to account for success on one hand, and failure omthe other.” That is precisely where the V'ccorian shoe pinches. Regarding the stocks of both colonies at equal appreciation, and having good faith in the stability and freedom from necessitous repudiation of each, the liana fide English investor (free from the business of stock broking), cares little about the almost incessr.nt rise and fall of the Sto k Exchange mercury. He buys in certain selected stock, not to barter, or mH, but to keep M a source of permanent income. It is natural, therefore, coeleris pariius, he should choose that which offers him ths bsst return of his money, and if he can see the 30s per cot 3. on the purchase money, there is every reason why he should do so, always supposing that the whole amount is not sunscribed over the minimum. But the fact is, that there is a great amount of pusillanimous jealousy existing in the big heart of Melbourne, if not of Victoria, owing to the rapid strides New Zealand is making, and the confidence English capitalists have in its stock. The Press sneeringly says :—“ Surely our credit ought to stand as high as that of New Zealand,” and it is suggested by more than one jor . al that money lenders ought to accept Victorian bonds, even atja less profitable rate, in preference to those of your Colony. The “ Evening Herald ” is, I think, the most business-like in its view of the matter. It says : —“ Although it may at first sight seem rather hu" iliating that New Zealand should have succeeded in floating a loan successfully, while our efforts in the same direction have been a comparative failure, the cause is not difficult to discover. . It is not that the minimum is too *

high M *t< actual mihiiatun, »w M tar a* investor* arc concerned. bat that It M tqo high to allow a margin jx r ont to broker:, who buy :uoh eto'ok for the purposs of setlißg to the outside pu'blft • " That is the secret why there is milk in tk e eocoannt, praetieally testified to by t'M broken' refusal to operate, and of outsider* doing 00) independently. But the ** Herald” is, also, tainted with the tamo feeling of rivalry at its contemporaries, It eonelndee an otherwise dispassionately written article thus “ There is certainly something rather mupioioue in the action of Now Zealand in Offering a loan at lower rates two days after that fired for opening the Victorian tenders, and to commercial oireles there is an inclinetin to regard it M a piece of sharp practice, and withmrt dooM the fiction of our Mlghbm in this matter looks eery much u i! they wanted to help to spoil our loan. On the other hand it may he said that it was generally expeeted that our lean would be taken up, end that New Zealand merely expected to got these who were unable to ob tain Victorian securities. The matter, however, requires soma explanation." Considering that the Victorian loan has been the talk of every street, except the right one, for over a year; and that the Ministry Ought to have been sufieieatly posted in its ne&hbor's fiscal business, to know that a lean was contemplated by it, I think it both unjust and ungenerous to point to its action with the finger of suspicion | while there is something jocularly cheerful in the statement that Now Zealand is reduced to sneh a beggarly state, in the estimation of the world, as to “ expect” Lasarus-Uke, to get only the crambe that fall from the table of the rich man clothed in purple and fine linen 1 At the risk of being tedious, I must give you a quotation from the “ Australasian Insurance Jnißanking Record," on this question, thus:— *’ It is telegraphed from London (3rd January) that an official announcement has been wads to the effect that tenders for the New Zealand loan of £1,000,000 at 4 per cent per annum will be invited to-day (11th) at a minimum price of £9B 10s. It will bo observed that the date for opening tenders is twodays later than that announced for the Victorian loan. The publication of the limit, which is 14 per cent under the Victorian limit, at this juncture bears an unpleasant aspect. It looks like an attempt to jostle, and It is the first time in the history of colonial loans that a proceeding of so sinister an appearance has occurred. The enforced abstinence of the New Zealand Go verament from offering loans in the London market expired on 31st December, so that no time has been lost by its London representatives. There would have been nothing to cavil at if the announcement had been delayed until after the Victorian tenders were in, and that would have done away with the appearance of an astute attempt to forestall the market by underselling a sister colony. The result wfll be looked forward to with interest." After perusing the foregoing excerpts I am inclined to the belief that, so far from your Government having acted auspiciously, or ta say “ jostling” manner to forests! the Victorians, it is rather to be complimented for tta liberal spirit in fixing the date of its loan subscriptions on the day after that of this Colony. Had there been a desire to circumvent, or “jostle ” M the papers say, » date teat prior would have been selected, or, If Nor Zealand had said “we will run you for fast place,” and have fixed the tame day m tbs Victorian loan, a cavil might have been sustained. To my mind the result proved two things meet conclusively—lst, Ths* the New Zealand Government acted fairly enough in going into the market after Victoria had an opportunity of getting its load j and, 2nd, that it had confidence sufficient In the stability of its own credit as not to fear the result. That a financing magazine like ths “ Banking Record ” should stoop to such petulant quibbling is rather astonishing. That the New Zealand representative “ lost no time " is not to be wondered at by those who, like the writer, are acquainted with Sir Dillon Bell's restless anxiety to be in the midst of figures of some kind; while the business activity of the New Zealand Ministry in commencing operations immediately after the expiration of the period of “ enforced abetinenoe,” forms a marked contrast to the procrastinating dilritarii antics of that of this Colony. Major Atkinson evidently knows that time is monsy. Sir Bryan O’Loghlen has that yet to learn. While I am waiting for latest accounts to reach this from London relative to the ultimate result of the loan, I shall remark on a Parliamentary document, emanating from a Police Commission, which has just been published, and caused a great sensational commotion in Melbourne generally. You will find it in the files herewith, and it is worth perusing. Even Sergeant Bullen’s eye may bo opened thereby. I may premise by stating that the relative positions of the detective and police benches, with respect to each Other, and both of them with respect to the public, have been, and are, of a moat unsatisfactory kind. Detectives (known by the “jug” fraternity as “watercresses') have been in the habit of fraternising with the criminal classes to such an extent that they found they oould not do without them ; and had to employ them in the capacity of "fiz-gigs " —eye-service men who stand in the some position towards the detectives, aa the pilot fish does to the shark. The former point out the prey and the latter runs them to earth, But it appears that this beginning of the' evil does not stop here, for, if we are to believe the evidence the Commissioners,

the detectives, when business gets “ flat,” “put up "these “fiz-gigs,” ana “lay them on ” to the incipient stages of robberies, by which certain other well-known criminals, whom the “ d’s. ” want to catch, are entrapped. Such a state of things appears to be incredible, but that it is a fact, is, so far.

uncontradicted, or not disproved, even by the officers who clamor for a Board of Investigation. As I am sending you the report in full, I shall not comment further upon it, as I can easily conceive the capital opportunity presented for the transference of portions of ft to your columns, and for the employment of your facile pen, in drawing attention to the salient points of its contents Your readers who are unacquainted with the many phases of vice that arc to be found in this, as in all large cities, would be astounded if brought in absolute contact with them ; and they would be more astounded still when they should see the hypocritical attempts that are made to abate them. I say “ hypocritical” advisedly, for, from the law-givers and rulers down to the “ water-cross” men, and police, whoM slang name is the political one of Copper*” there is an under current of know' ledge that the means employed will I not secure the end they protend to attain. It matters little what the vice, or breach of law is, the “water-cresset” and “Coppers” alike put down just so little, and uphold just so much, as suits their purpose, whatever that may be. Is it “ Sunday trading The “Coppers” know their marks. They discern the side on which their bread is buttered (the grease is mostly laid on pretty thick) and it is only now and then that some small “ pub” is informed against on the Monday, because the “ bobby” new to the “beat.” could not get a “liquor" for his girl, after hours on the previous Saturday night. Such cases are within the knowledge of most of us who have “ travelled," while the big places in Swanston, Bourke, and other streets, are haunts for the devotees of Bacchus (aye, and Venus, too,) all night long. “ Garton’s” is a reputable house, but what functionary will inform against so t popular a landlady ’ “ deal’s ” is a

i Hsrsputsbls hunt, neh as will ever lie found go where we wilL but no ‘‘Copper’ has yet had the pluck (simply because he has not- hod tm- wish) to put down the inevitable, As Appleby slugs in the “ King’s Dragoons,” “ I grow: my peas and beans, and know, how many bean: make five.” Such is the motto of the Melbourne poliee on the question of Sunday \ leading. Let's take another case, not to quote U’« many. Do the ultra-puritanical legislate ri, who periodically move in the direction of removing, or ameliorating the “ social evil,*' ss it is ealled, ever look at home ? ilf the fls'use t hey call on the Government to instruct the p Wuoe to ” put it down ”—whatever that may* mean—nut (some of them) they go straightway in a “ Hansom," with a nlfy-esdseksd beauty, to Fl inders-stnet, er Carlton, and sp »nd the night in the Very hot bod of that soei *1 evil they protend to abhor. I know of sneh men, whose a'lves. in order to save thorn from < ilegraee, have ridden in the early morning in their carriage, to these habitations of the ariblest, and actually paid in eash, the sum de mended far their husband's release. Bat I digress. The " Copper ”is imbued with the came lenient infirmity. He nightly walk e the beaten paths aloeg which trip lightly and gaily, the " soiled doves ” of eireumstanM or misfortune. Has ho net his failings toe F Why should he tell to " move on ” one of tire Magdalene: who, ere long, in the silent hours of the night, h e may (through a strong sense of innaile politer tees, of course) have|to|help to “move off” aooommpanied by one in authority or er him f And who is cure that the self-same lady ie not the one, against whom the constable has been “ instructed " aof to So qfftnwive! Ah, we require to live amongst a people before we know of their vices—their virtues, when they have any, will be written in brass. I care not what part of either the city or suburbs is selected, an observer will not bo long in detecting those things. I have seen in the thickest part of Melbourne—where, there is no doubt, soma of the more depraved (or shall I say ill-behaved) of these women are a great nuisance—ths saros policeman “ran in," girls who will not ’‘cotton” to him; and, at other times, stand, in the dark recesses of the street, by the Iks ar, and ehat, and ultimately “liquor up” with those for whom he has a more friendly regard. The women have their “ fancy men ” in the force, and rice ewes; therefore, whiilo the "d’s.’ and “ coppers ” are set so good 1 an exampls, there is no wonder that they— -

Compound tor sins they are i> lellned to, By damning those they have no mind to.” I have not time, nor space, to - dilate further on this subject, although, had I both at my disposal, I think I could interest your readers with same of the doings of thia metropolis, which would fully bear out the recommendations ot the Police Commu inion to which I January Iflth. The mall closes shortly, e nd, up to the pre. sent time nothing further hi w been received here, re the loan, except tl iet a few more small subscriptions had Y» wn received in London. Therefore, MI eh ill be too late to remark upon the Governs cental state of affairs, in order to write by the Te Anau, I must leave this portion to bv, probably, anticipated to you by wire. S hoald anything transpire, and reported in tin s evening paper I will eend yon a copy. The Sorata arrived y eaterd ay from London. Amongst her passengers I n« .tics the name of A. Y. Hardy. I have not yut seen him, but I dire say he will come on by this steamer. lam becoming quite effete,, it that ia the correct word to adequately d escribe the lassitude I suffer on account -of the extreme heat. Only fancy 105 in the shade, and the dryness like that of Sahara ’. I quite envy the pressmen whose duties a> e by night instead of day.