BRITISH CAPITAL

Taranaki Daily News, Volume L, Issue 59, 20 May 1907, Page 3

BRITISH CAPITAL

REASSURED BY MR. DEAKIN. DOWNFALL OF LABOR PRDICTED. London, May 17. Mr. Deakin was entertained at luncheon at Dekeyser's Hotel to meet the representatives of capital invested in Australia, and who explained some obstacles to the freer flow of capital thither. Mr. Deakin remarked that the Labor party had its growth and maturity at present in very deep waters as a party. He predictedTt great Ministerial majority in New South Wales over the Laborites, while the latter would not connt in Queensland in the coming election. Events indicate that the Laboritei would shortly be in a minority in South Australia. These facts should dispel investors' fears for the Laborite legislation concerned. Regarding other matters he recommends investors to thoroughly understand the terms of all agreements before signing. Mr. Deakin continued: "I hope cable communication will be so cheapened as to enable us to have exact terms and contracts." He explained the progress being made in the direction of unifying, the company law of Australia with the attendant advantages. He was also trying to harmonise tlie law with reference to insurance, and since his arrival had consulted with the directors of the Bunk of England regarding the possibility of passing a banking law which would have currency throughout the Commonwealth. Sealing with the advantages aecuruing to the Commonwealth from the prospective; assumption of the whole of the various States' debts, he remarked that gradually, by better adaptation to eircnmstances, the interior, with its great pastoral and agricultural interests, was becoming far more independent i,f 'V variations of climate. He added: "Concerning immigration, if only the States could be persuaded to break away from red-tape methods, the Commonwealth Government would undertake to bring over all the settlers they could fliul and place them on the land." He hoped an agreement with South Australia for half a million acres would be sanctioned in 1907.

The Times eulogises Mr. Deakin's fresh, comprehensive, well-informed and ■vigorous speeches addressed to popular audiences, which, the paper says, justifies Lord Milner's tribute. It adds: ,r \Ve are indeed indebted to those speeches for the most we knew about the actual aims and arguments of the Premiers in conference."