WELLINGTON TOPICS.

Taranaki Daily News, 22 August 1916, Page 6

WELLINGTON TOPICS.

THE WAR LOAN. fLESTY OF MOXEV (from Our Own Correspondent), . Wellington, August IS. The Minister of Finance ecrtainlv lias .succeeded in getting his war loan talked about. It is not the sole topic of onvcrsation in the streets and trains, in the clnbs and less select places of refreshment—the wai and the totalisator odds still receive some attention—hot for the moment it appears to he overshadowing aN the other., in populat interest. The Minister lias devised many means of awakening the citizens to their duty to "help in winning the war," and is having many more ottered for consideration' One genius suggested that the money invested in the totalisator at the (irand National meeting should he appropriated by tlie (iovernment and the dividends paid in loan certificates ivit-h a currency of live years, but either this happy idea has escaped the notice of the Minister or he did not care to divert so much money from re-investment in the machine. The general opinion is that the loan will be fully subscribed, or at anj rate so well supported that a little assistance from the State Departments will give Sir Joseph Ward all the money he requires.

EFFECT ON THE MONEY MARKET. The people who wore making gloomy predictions a few months ago concerning the effect of a large war loan on the local money market are now declaring (hat eight millions taken out of the banks for investment in public securities will not prejudice the position of the private borrower at all. There is plenty of money available, they say. The war has not affected the supply in the slightest dv gree, except to make it more abundant through- the 'high prices for produce, but securities are being more carefully scrutinised and margins are being enlarged. This tendency is sure to lead to increased demands being made upon the State lending departments, and' it is understood that Sir Joseph Ward is preparing for this contingency by making special provision for strengthening the finances of these useful institutions. It is now more than twentj years since Sir Joseph launched his cheap money proposals upon a sceptical country, and it is more than a little curious 'that his opponents of those far-off days are now his allies in maintaining his'scheme on a firm basis. THE MINISTERIAL TRIP HOME. Of course, the announcement that the date fixed for Mr. Massey's and Sir J'o.sepli Ward's departure fo'r London is to be kept a profound secret has set curious folk trying to find out all about their arrangements down ' to the smallest detail. So far the inquisitive ones have not achieved much success. When i the Prime Ministei went to Auckland the other day to take part in some road board ceremony, and the Minister oi Finance to Christchurch to push 'his loan and see the members of his'family residing there, it was currently reported that they had slipped away on their trip and would be seen no more in Wellington till the beginning of the new year. Now they are back again the gossips are finding in Mr. Massey's visits to his tailor and Sir Joseph's to his dentist positive proof that the Ministers will be away before the end of next week. The tailor and the dentist both have been sounded on the subject, but apparently Mr. Ma-sscy confined his remarks strictly to business in band when being fitted for his court suit, while Sir Joseph Ward, careful of his good manners, refrained from speaking at all with his Aiouth fnil of forceps and other delectable things. Enquiries in other quarters have been equally futile, and it looks to-day as if the trippers would get away with no more publicity than they desire.

THE UNSPEAKABLE GERMAN. The Prime Minister's guarded statement in reference, to the desertion of a New Zealand soldier to the German forces will be meat and drink to Mr. John Payne and would have' been a whole banquet of good tilings to Madame Boeufve if that energetic lady had been here to enjoy the inlfilment of her repeated prophecies. That the information received by Mr. Massey is ollicial and correct there can he, unfortunately, no doubt. The Minister is anxious to spare, the feelings of the relations of tlie man if they ought to be spared, and is very properly moving cautiously. But the incident ought to make an impression in quarters where Mr. Payne's representations have been treated with contemptuous indifference. The member for Grey Lynn has not been always discreet in his methods, but he certainly has pointed to cases and circumstances which deserved more searching investigation than they appeared to receive from the military authorities. Spying during war time is not a heinous oH'ence even in British eyes; indeed, there is an air of romance about it which appeals to the instincts of every adventurous race, and the authorities ought to 'have taken every precaution against enemy subjects making their way into the ranks of the New Zealand forces. It would have been better to have rejected a hundred loyal Britishers of German exi traction than to have accepted one false friend of tlie Empire. Mr. Payne's reiterated contention 'M this elf pet has been amply justified. THE BY-ELECTION. None of the political parties has much reason for jubilation ovci the polling at the Pahiatua by-election. It reveals more clearly than it reveals anything else that many of the electors were utterly indifferent about the result. At the general election twenty months ago there were G241 electors on the roll, and of these 512!), or 84.08 per cent., recorded their votes. Population is not increasing in the Pahiatua district, mainly owing, it is alleged, to the operations if 'the gentle land aggregator, and there is no need to suppose there 'were more names on the roll this year than there were in M>l4. Tho authorities had allowed no time for fresh registrations, and probably the roll was smaller. But assuming that it contained only GOOD names, tlie cotes recorded represented no more than 53.5 per cent, of this total. The National Cabinet got its man in, but only by the narrow margin of ninetythree votes over the Independent candidate. Apparently it was the presence of a-Labor candidate that saved Mr. Smith from defeat and the Cabinet from a very unpleasant rebuff.