THE TURN OF THE TIDE.

Te Aroha News, Volume VII, Issue 417, 6 November 1889, Page 6

THE TURN OF THE TIDE.

Fok quite'a loner time the nee prosperous New Zealand has filled the part of the poor relation of the Australian colonies. Her woes proceeded, too, from much the same causes which usually produce poor relations, from a little too much generosity, a little too much confidence in the future, and a little too much elation at the wealth of her patrimony. The result of these combined mistakes was that &he exceeded her income \ery considerably, mortgaged her property heavily, and generally speaking, plunged, not after the manner of those who throw away their money, but after the manner of those who buy goods they cannot afford, no matter how desirable they may be. But when once the state of the case was clear the New Zealanders 1 faced the position manfully. They shut down the borrowing system, which had over - loaded their income ; they reduced their daily working expenditure to the . smallest" possible limits, they levied every impost internal and external tho country would bear, and they set to work to clear off their debts and increase their income by means of an industry -which never tired, and an enterprise which shrunk at nothing. The consequence is that they are already beginning to re-establish their position among the young nation? of the South. Iheir national balance-sheet for the half-year just ended is the besb they have, seen tor a long time, and tho transactions of the year :>eem likely to show a surplus almost unprecedented in amount. Jusb at this identical juncture the Now Zealanaers. have decided to hold a great exhibition and there can be, no doubt that they will find it a most profit* able experiment. The Exhibition of 1879 doubled the size of Sydney and trebled her wealth. The 1 Exhibition of 1880- pub an end for good and all to' the depression which had. so afflicted . Victoria in the . J/bree , years ' preceding ; ancr that of, last' years gave us such a surplus as no Australian colony ever possessed before, excepting when- it hadconverted its' landed capital into cash. That all the good consequences which South Wales and Victoria have enjoyed from their exhibitions may accrue to New Zealand is the earnest hope of every Australian. New Zealand has set' her sister colonies a grand example 'in her long dark days of depression. She has immensely extended * her European trade, and has succeeded in beating us in the supply of meat and'but'ter to the British market. She has," unaided, established a line of steamers between Great Britain and New Zealand, wjbich compete successfully with the subsidised lines. $he has taxed her property-owners,", while we let ours depend for the protection their property enjoys ' upon the general fund to which the non-propertied contribute as much as they do. In short, she has borne her depression and, .her poverty so well that all people' will rejoice in her returning prosperity. No colony of the group can sutler long without the other colonies;Biiffering also, nor prosper theirsharing in her prosperity. Bub it'is'no>. mere!} that selfish qdnsideration which ysl cause everybody who hears' the news to t be glad that the N,ew Zealanders are beginning to surmount' their" dUli curies.—'•''Melbourne Herald." Hl