CURRENT TOPICS.

Taranaki Daily News, Volume LVI, Issue 255, 26 March 1914, Page 4

CURRENT TOPICS.

THE RELIGIOUS ELEMENT. Complaints were made at the last general election in New Zealand that the religious element was unnecessarily obtruded. One cannot blind his eyes to the fact that there were good grounds for theße complaints. The fact that Sir Joseph Ward is a Roman Catholic was used both for and against him. This is very much to be deplored. Politics and religion should be kept entirely apart. Once they were brought together, it will be good-bye to freedom of action, for a condition of bigotry and intolerance will be created. Sir Joseph Ward and his party should be judged entirely upon their policy—if they have one-and not upon their religion. Sir Joseph has no more right to be condemned because he belongs to a certain religious persuasion than he has to claim support on account of his identity with that persuasion. It is devoutly to be hoped that the campaign of this year will bo fought upon broad national lines, instead of upon sectional and sectarian issues—Wairalapa Age.

A BROAD IMPERIAL OUTLOOK. It is curious to note how seed sown in the political field germinates and produces a vigorous, beneficial or baneful growth, according to its nature (says the Manawatu Times, a "Reform" journal). When Sir Joseph Ward brought before the Imperial Conference his suggestion for Imperial co-partner-Bhip as the basis for federation of the Empire, he was jeered at bv some who did not realise the magnitude of Ihe idea and who had no conception of its importance. The journalists opposed to Sir Josepb made much of tho jeers, but (lid not touch on the merits of the subject. The writer was among the few people who gave credit to Sir Joseph for his-Imperial work. It may be noted than in less than a week after Sir Joseph had failed to interest the Imperial Conference, many of the leading statesmen of Britain were glibly talk" ing of Imperial co-operation and Empire co-partnership. The seed has sprouted and now the tree is budding and promising to fruit. Scarcely a speech is made in which the, Imperial idea is touched but there is somo reference to partnership in Empire work. Even General Sir lan Hamilton, in his address at Sydney tho other day, felt compelled to'refer to partnership i„ Empire. Whatever may be the opinion held in regard to Sir Joseph's work in local politics, there are few who will grudge giving him credit for broad outlook in Imperial matters.

THE MONEY MARKET. There is very little appreciable change in the condition of the local money market since our last issue, but what move there is is in the nature of an casing tendency. Our exports are' maintaining a good high level, both in volume and price, and the banks' coffers are in process of replenishing from the realisation of these exports. The Economist of London, commenting on the sudden easiu.T of the London money market, states that the bank rate had'not been down to 3 per cent, for a year and a half, and a drop from 5 to 3 per cent, in ,lanuary lias not been known for the last 25 years. Owing to the clouded stale of the stock market vast sums were deposited with the banks at 3'/> per cent, but when this rale was reduced to -'!/,' per cent, money flooded into invest"ment stocks. In view of the enormous capital requirements still unsatisfied the Economist does not anticipate that there will necessarily he a steadv unchecked recovery in gilt-edged stocks to the prices of several years ago, nor are they satisfied that the period of cheap money will last.-N.Z. Trade Review March Ift, ' ' I