CABLE NEWS

Taranaki Daily News, Volume XXXXV, Issue 55, 5 March 1903, Page 2

CABLE NEWS

BY HEBOIHIO TISriBaRAPH—OOPraiOHT. NEW SOUTH WALES STABILITY. —. —»-—.— ADDRESS BY HON. B. R. WISE. PEE PRESS ASSOCIATION. Received 4, 9.57 p.m. London, MUrch 4, Lords RoseberyUod Hampden, wi'h many bankers atsd merchants, weie present to hear an address d. livered by the Hon. B. R. Wise, New South Wales Attorney-General, before the Australasian Chamber of Oommsrce. j t Mr Wise treated the socialistic legis- j lation of Australasia as unalarming. He declared that no country offered! greater security for capital than New South Wales, because none offered greater political and industrial stability. He denied that the cost of the old age pensions was excessive, and contended tba v . no mmsure was likelier to enhance financial stability, sinca it gave workmen a stake in the country. Indus'rial arbitration legislation worked mo3t effectually for industrial peace and increased the stability of capital, besides securing industrial continuity. It teaches employers and j employed their differences are not irreconcilable, and enormously increases, the makiag of industrial agreement?, j while it stopped sweating. He. said that the incident as to the exclusion of the hatteis ati Sydney had baen exaggerated, thiugh | it had proved a splendid advcritsfment: for the now industry. The exclusion Act was intended to prevent the ovils so conspicuous in the Enst-end of London. It was grotesque to assert that the Act was inimical to the advent of the right clas3 of immigrants. The Customs Tux levied npon the mail steamers was not in f ended to differentiate against British shipping, but was purely a fiscal measure. Hs condemned as ludicrous the charges made against Australian credi*, and said repudiation was not to ba thought of. The debt was light compared with Britain's if the cost of railways, water works, and municipal works was added. The A ustralians had not lost in any essential that honesty which was charae'eristio of Englishmen.