The Daily News. FRIDAY, JUNE 24. BRITAIN'S POSITION.

Taranaki Daily News, Volume LIII, Issue 64, 24 June 1910, Page 4

The Daily News. FRIDAY, JUNE 24. BRITAIN'S POSITION.

It has become the fashion with a not innumerable class to speak of and treat Great Britain as "decadent," with a waning trade, and all the rest of it. But there is conclusive proof that Britain'i

; vitality is not in tile least impaired—that, on the contrary, she is in a I stronger and sounder position than ever j she was. When Mr. Lloyd-George i brought down his Budget last year he ■ had to face the gloomy predictions of his opponents and the dubious acquiescence of many of his own party. It was claimed that what with old-age pensions, an increased navy, and other charges, he would find himself on the wrong side of the ledger when the year terminated. Contemporaneous with the new adjustments came a great increase of prosperity throughout the country, the result of which was to swell the receipts quite unexpectedly in several directions. Results showed that in many branches of the public service the Chancellor of the Exchequer had undervalued the expenses and overvalued the receipts, but his errors had opposite effects in other cases, and the net result was to the good. Naturally the (buoyant nature of the public finances was taken full advantage of :by the Government when the Budget was under consideration. The ' reports by mail bring particulars of Mr. Asquitli's speech, in which he very properly made a comparison of Britain's credit and financial position with that of other European Powers. English Consols, he admitted, were very low at 81. But what about the German three per cents.? They were quoted at 82, but if adjusted to a 2 x / 2 per cent, basis their price was only a 1 little over 67—over 11 points below the English fund. The fall in Consols was not due, however, to the diminishing prosperity of the country, but to specific causes. There had been an enormous increase in the range of trustees' securities; there was the South African War, which made a colossal addition to the debt of the country; there had been the issue of Irish Land Stock on a very large scale, and the constant and growing competition of municipal J and local bodies. These causes made it absolutely impossible to maintain Con-1 sols at the price at-which they formerly stood. He asked the House to look at the financial position, as disclosed in their Budgets for the (present year, of the great nations of the world. In France the expenditure was 166 millions and the revenue 158 millions, leaving a deficit of 8 millions. In Germany the expenditure was £139,500,000 and the revenue 129 millions, leaving a deficit of over 10 millions. Russia had an expenditure of 279 millions anil a revenue of 270 millions, the deficit being nine millions. The United States—our greatest commercial rival—had an expenditure of 173 millions and a revenue of 161 millions, leaving! a deficit of 11% millions. In ei"> -ne of these countries what En r "'' '\ should regard as an enormon-, deficit was to be met, not by taxation but by addition to the National Debt, whereas the Chancellor of the Exchequer for the financial year 1909-10 was in possession of a surplus. Mr. Lloyd-George was, said Mr. Asquith, in conclusion, "the only Finance Minister among the great nations of the world who was at this moment in that envia'ble position." These facts speak for themselves, and should serve to silence those who profess to see nothing good or sound in a country that has shown herself: to be well able to hold her own, and more than her own, with the great nations of the world.

RAILWAY FEEDERS. Speaking to a deputation at Te Wera on Monday, the Minister for Agriculture expressed surprise that more was not done in this country in constructing light railways as feeders to the main lines instead of expending so much money on roads, especially as there was so little difference in the respective cost. It is estimated that the road from Stratford to Whangamomona has cost about £IOO,OOO. If a light line could have been constructed for £ISOO a mile the whole length would have only run into £60,000, thus effecting a saving of £40,000 to the Government and the rate-, ipayers, saved untold hardships, saved a great deal of money in the carriage of settlers' requirements and stock, and brought hope and life to the large number of men and women in Taranaki's hinterland. The Government has never given a lead in connection with the construction of light lines in the back country of the Dominion, though the scheme has been suggested nnd advocated times out of number. Light railways have iproved a great boon to many districts in Australia and considerably reduced the burden of ratepayers in the matter of the upkeep of roads that otherwise would have to be used. That which can be successfully worked there can be equally successfully operated here; in-1 deed, the conditions here are a great) deal more favorable. But it looks as if the monorail is going to displace the light railway and prove the salvation of j country and sparsely-settled districts. Some months ago mention was made in, the cablegrams of arrangements having been comipleted for the construction in Alaska of a railway on the Brennan system. It seems that the scheme is the result of the enterprise of Major John B. Bellaiße, the founder of Seward, the capital of Alaska. He read about the gyroscopic monorail in an American magazine, and concluded that it would solve the difficulty of railway construction in a country where distances were great and population scattered. iSeward is a mining centre on a large bay in Alaska, and Major Bellaine, owns twothirds of its land and buildings. Close at hand are enormous quantities of bituminous and anthracite coal, in veins as much as thirty-two feet thick, exposed to view on the mountain sides, and further inland arc great areas of auriferous country, already being worked by thousands of miners. The Major was anxious to open up the interior, and after communicating with Mr. Brennan by cablegram he travelled to London. A short investigation and a consultation with engineers satisfied him that the monorail would suit all his purposes ati a comparatively low cost, and he con-

eluded a contract for the starting of the work at an early date. Mr. Brennan is delighted at having secured an opportunity to test his machine under clillioult conditions. "The monorail will be laid up country to the mining camps," he told an interviewer in London. "There i are no very steep gradients, and tunnels will be avoided by going round corners, for a feature of the gyroscopic monorail is that a vehicle 40 ft long and weighing 32 tons can go 2'Oiind a curve of a 35ft radium. The cars will be built to camten tons, and will be 10ft wide, the same as the old broad-gauge carriages. My ( aim is ultimately to build mono-rail cars double the width, so that passengers may enjoy the ordinary comforts of a house while travelling." If the Alaska experiment is successful, and there is no reason to doubt that it will be, the gyroscopic railway should have a great future, and in no part of the world would it prove more suitable than in Taranaki. From Hawera to the Mokau by the coast iline; from New Plymouth via the Junction road to Stratford line; from Opunake via Eltham to the back country—these are routes that immediately suggest themselves. Monorail railways would mean the saving of thousands of pounds to the province and make life in the back country much more bearable than it is under existing conditions.

CURRENT TOPICS THE NEW GOVERNOR. A perusal of Lord Islington's first speech delivered on New Zealand soil impresses Jess by the matter than by the sentiment. He has- evidently come to this country with a profound student's knowledge of New Zealand, and has said that he desires to augment this knowledge by personal contact and examination. He has referred to the loyalty of this country, its beauty, its position, as seen by the people at the other side of the world, and various other matters indicating his interest. Because Lord Islington has a splendid record of achievement in the Old Country, we are convinced that, quite apart from compliments, he win be of infinite use to us. His particular interest in the working classes, his strenuous efforts on their behalf, and his dogged persistence in holding to his political views, are his strong points. Lord •Islington is a politician, first and foremost, but in his new position he must not take ipart in politics. Still, the influence of a strong man in an eminent position may be very great socially, and his experience as a helper in the cause of the betterment of the people will be a gain to New Zealand. Lord Islington is a fighting man, physically and mentally. He had a distinguished career as a soldier and as a philanthropist who fights greater enemies than armed foes. In both branches of fight he can do incalculable service. He is Commander-in-Chief of the Forces, but in the past Governors have only nominally filled the position. If Lord Islington sees the emptiness of the land, and understands that Kitchener's scheme of compulsory military training is 1 to be emasculated, it! is hoped that he will take a hand as supreme soldier as well as supreme civilian in New Zealand. The new Governor is credited with being a strong man, a clever politician, a philanthropist, and a good soldier. It is a combination of qualities that should make the people like and respect'him. THE OLD HANDS. The history of early colonisation in New Zealand is' to the present generation a romance. To the pioneers, the iomance was missing. People who strive and fight attach little importance to deeds of daring or to hardships while fighting has to be done and hardships remain, ■but when the .pioneering is in the background, the vie\v> of the distant past is seen through a haze of sentiment, infinitely useful as a spur to others to "go and do likewise." Associations of any ■kind which tiave for their object the periodical reunion of people once engaged in the same fight are of the utmost utility. The sentiment and feeling of comradeship is fine medicine. Old mates who meet after many years go away refreshed piil invigorated in body and mind. Even the exchange of reminiscenses makes the red corpuscles bubble and the heart light. Anything that cheers is good. We were given emotions to. use and not to suppress. Sentiment keeps us jogging along the high road of life, glad to have had a laugh or a cry, a re-union or a.hand-shake. So we hope that the pioneer settlers of Taranaki will form themselves into an association as proposed on Monday. It would give occasion for those delightful gatherings and re-unions that are features of other parts of New Zealand, still more notable features of Australia, and a firmly established phase of Canadian life. The mere mention of 1841 is sufficient inducement to attract old settlers to associate. The interests of all those early settlers were identical, their hopes were high, their difficulties the same, and their communism a thing to be proud of. To revive the old times, to compare the past with the present, to boast about the girls and the boys, to rejoice that the dangers and difficulties are past, and that the autumn of life is sunny, are useful, strengthening and necessary. Such an association, apart from the sentimental interest attaching to it, would have the useful effect Of keeping track of our valued old settlers, their traditions, history and success, and might give opportunity to extend the hand of friendship to those who were not fortunate in the race of life. One thing is to be regretted. Last Monday there was a unique opportunity of at once forming the association, and it was not taken.. It is much easier to stir enthusiasm by word of mouth in a gathering i than to effect the same result by circular, canvas or any other means. Such an oportunity as the one this week may not occur again for a year, but it is honed that the matter will not be dropped during the interval, and that the ground may be carefully prepared in the meantime.