The Daily News. TUESDAY, JUNE 22. PROPHETIC WORDS.

Taranaki Daily News, Volume LII, Issue 122, 22 June 1909, Page 2

The Daily News. TUESDAY, JUNE 22. PROPHETIC WORDS.

Speaking at the annual meeting' 0 shareholders of the Hank of Now '/.a land in IJMIo. Mr. 11. Heauclmuip utler-i the. e words of prophetic wisdom:"'J'lie great prosperity of farmers— pus toralisU and dairymen—is, in my opii ion. prompting them to pay excessiv prices for land. They have apparent!, forgotten the day of adversity and ar now basiujj land values upon the a, suinptiqn that prices of produce rulin in recent years, and now are goinif t be maintained indefinitely. Surely thi is unwise, for history teaches us tha we must look for, and expect, cycles o lean and fat years. Further, we hav to face the great and Increasing com petition of the Argentine, whose «.x ports of products similar to our o-.vi are expanding by leaps and bounds: Little attention was paid lo the warn ing, however, but subsequent even; have abundantly proved its correctness Since then the country has experience; a period of depression; markets hav. fallen, the bottom has dropped out o one important industry, and in mam instances holders of land have beei forced to sell in the effort to meet tliei. liabilities. Fortunately for the Domin ion, however, dairy produce ha: throughout, and wool latterly maintain ed a good position in the ilonie mar kets; in fact, they may be said to havi saved the situation. In reviewing the position at the annual meeting qf the Bank the other day,' Air. Beauchamp while hopeful as to the future of tin country, points out the great need foi economy. In his opinion, the linancia stringency was largely due to the sud dim drop in the values of our primary produce, but a contributing factor wa! the abnormal laml values and genera extravagance, practised everywhere in the community, .\| r . Beau\caaiuu holdthat "1111111 laud is bought „ud sold ftl) a basis of its productive value in normal times we cannot hope to s'ce that equili brimu necessary to maintain commercial stability:' The absolute truth of this contention is not open to question, but it might he pointed out that the banks and financial institutions, aiid [he Crown lending and Advance-; to Nettiers departments, must accept their share of the blame in the creation of inflated values, iu too many cases laud has been so over-valued for the purposes of borrowing that sums have been raised approximating the full value and over. The fjcilily with which accommodation has been ]H-ocms|;jj; in good times was in no small way responsible for the recent depression, and the financial institutions, as the holders of the key to the situation, have been large contributors.

the I'lGirrm; hacks of j\»ia. Oreat Britain has under her Hag nearly 33u,U01),u'01) uf the colored races" of the world, and that tile Briton has somehow the gift of leadership over colored hum, all history .proves. India, in particular, is a demonstration of that fact, for no soldiers in the B „rld vy'ijl follow their officers more loyally thai; wi)l ll, u Jndiai) Sepoy. "It ,„ a y be," says the Lot. don .Spectator, 'Jilmul and olfeiisive to say that we hold |, (( |i„ | )V ,|„, swo| . (l) but the haul fact remains' tjiat the removal of the lust British bayonet from the peninsula would be followed "i,y clino* as complete 11S that which marked the withdrawal of the Roman legionaries from Britain. And tile seventylive thousand British soldiers who garrison India to-day would be .powerless.fir

tlie maintenance of our rule against fo«' s within and foes without but for I Its hundred jiiiil sixty thousand men of the >'atiye ,inuy Je<| by British' omtcrs. How that array lias been built uji am. kopt loyal, with one tragic lapse, for more than a century ami a-hulf, is out of the marvels of bi.-iorv

•■Ki-om his fii„t appearance on the battlefields of his native laud, the dark man diided by white odiecrs has been a paradox anil a puzzle, lie is not win an Knglish invention, for the Sepoys, or Sipahis, or Cipays, were lirst utilised'!,v the I'iL'iK'li adventurers who so ncarl'v ousted u= in the (rival struggle of the eighteenth century, and JJiipleix and Ully. ilurinjr their ill-fateil careers seem to have exercised a power over the native rates which was scarcely exveeiled h.v H'live ur Warren Hastings. j!,il thanks to the British Navy and lo tin:' weakness and inea'iiai-it v of Louis XV.. trance was ruled nut. iU ,,I ~),,, lieldwas left clear to Crcal j:= ilsiin to' control India |,y the sword* of her own sons'. \>« pride onn,e|yes ti,al wherever we !•'" ,"V l' iiv i' a ]:evuliar faculty for cnn.ilinj,' suhjecl races in our service, and that the mure stubborn the %hl ] W s been the more liriuly is tJio lie riveted. Hut no explanation of thi, f iK .,||| y ) ms ever been put forward which will 'stand ail tests; still less of the causes which Iroui tune to time have turned lovaltv into hitler ami u:: • ning hate. From he siege of A .■; ,:.,,vii to the latest frontier war, the history u f [ m \ m trans with ,lories of unselfish heroism on the

imrt of l In. Sepoy. Tin. devotion of tin. Sikll iiiul (inrkliu to "Hi,, sahib," often [,|a Jut) fivsh from .Sandhurst, ran milv be p.'irallejod j,y ij. ;i ( ~f |.|„, ~].,„,,„„,:, to the uiilt»pp.y fleetor of The.' I/air Al.iin »i I'crtll,' "Vci «•,■■ arc nMnlrly ignorant how tar I In- dcvuiioi) may i.i,ic|p|, or j,uu-li-|lli"a a i-itiiM' may convert lllcfailli- ';« «"!il;<7 tmii iln. rchmiic™ enmuv. ini' iniiitiicrrs who shot down (llc'ir others i.l .M.rrnt ami hnk-li-ml tlu-m at l.awnporc liitfl piolrssed, and indeed "ii. t'lilcrtaiiu'd, u more tlian filial afecl.ou lor them. And tho,c who had known t1,,. Jlcnnal Spjiny loudest -were i ] '-\ '»<>-!■ Wind'l» ryi'np'toinsijf unrest ■v.n.li uerc i;|.parent to subalterns froali from |.:;i K !,,„d, When ,ve consider that 111,1 'l-" 1 '- 1 " -V'»V of 11,.. p r <...\|„tii.v ~,,,! was largely übK-eicd l,y ;nc„ who ],a,l I '■l'l'ill I heir whole life iii IndS, arid ivho were J M ,l|i,.,. , v j||, aspects „f Indian life W'lu.ii l.'-.i.-.y at., a sealed |,o„|, ,„' u,, ■-,u/N„.ma„ H e are s„n„.|i„„,/'i,., M( .,| to «.ii!i|; T how la,- ~V l. „ ((,„ ltl()s| - pv i" 1 ' 1 ' '" mui!"rii Aniilo-lndian -oldies •live |ienfl ra ie,| beneath ||,„ iiivflltrtl.i,. \ ■•■■■< 1; "I thellriealal, It j, s ||n ,|... .„.,.. ■■"•;ii:n ,ouaii,,u which coiinl*. and „„ ,|, -\orllM\e.|,ri, Frontier 10-dnv (hero «■•;■ yo.ut. ollieers who are winaim; „„ niilmmec oi ~, SMIP kill! , , vlli ,|,' ( , OM . 1, -' ,| :''!l ■■'mi NteolW into tl„, tutelary .1 U-y.uly of |h ( . savafre tribesman, lint Hie .•..•e.0,u,,: (f a,-,,., is „,, u |„a| )v |,. SSI ,„. tioil >< mahinu- il,;elf fell '.Mno^'lU'so ''"■■'"" /'l''" I '' I'illicrtii have furnis 1 '<»•■»' rt tm- „„>,.( Ini«lworthy, if no t Hip hm-rsl, ri>jriiin.i,is in „ur r.>V(J*«. ■'Down to n eoni|iiirativelv recent date an Indian ••xj«-rlitinijarv force had maav' 01 Iho ehuract eristic, ~f n,,, |ti-1 t-nt-i 1 HoMs which the I'ersiaiis led n-aitWt (■'roece. The drill, the -.lUoipliu?. the ladle lonnalioii. were after strict Euro- !'"« models-, hill the the , ; .v.a/i. v of eiuiip-lollowers. and (he luxuri ons ...jinpuiijji. ~„,.„ ~.„n lv ,„• X(1 mill of Darin.. }.i m{ IK'it H moving lown to ti|C sic.., of liburtporc, i,„d il„, Kllvl.i-1- disaster'wa'. iai-f,'i'ly dne lo tile helpless- „toh of leaiei.-nnd syces and hlieosllo who had been eooped ~p with ns in the cantonment otilside rabnl. As reeentlv a. the AMum Warhol IS7S-SI) tl, o mobilisation of onr armies was thrown int„ „tter tonft,s,o ; , ~v ,l„, „,„.,, „,- i,,,,,,,,!,,,,,,, ij-ithont winch it was' declared to he in,. |,, lake |he field, and it has Deen as.sertrd U.ai tiily (iiniisaml eainels peristal in thT course ut'tilc i'liinpai.vn Unr in an lOastern cliinalcctni never"l,e w.-ijrcd in the same rie-orous fashion to wlm-li we are accustomed in Kuroi,.. llioujrh the marches of Ilarelock and Sir Jlupli Ko-e have shown what ihs'iierale (ilea cii;) accomplish under the sun' and the rain ot an Indian tnmmcr- hul the ever-present prulilcm hef,,,-,, ~,„. c , ln . inaiidir-in-Chie!' in India is to 'accustom his comiiiand as much a> possihie to the roqulrMnetili. of KllfO|iean warfaro It is an alisnlutelv nceess'ary task if the l.'iilum Army is to fulfil tife r uls Tor . •which it exist""

ON THE FOURTH 'piGE. Commercial. Correspondence, Farm and Dairy. A Popular Burglar. Girl's Terrible fate. Can Germany Attack? Britain's Latest Battleship. ' Hospital and Charitable Aid Board.