The Temuka Leader TUESDAY, JULY 13, 1880.

Temuka Leader, Issue 269, 13 July 1880, Page 2

The Temuka Leader TUESDAY, JULY 13, 1880.

Tjik increase iu the revenue in the CustomPost,and Tj.egr-ph Departments is a sign th at a revival in business is setfciugin In the Customs this will go on increasing, ior :fc is a fact that i very connnercjal house m tlic colony has been shortening its imports lately. The consequence of such a course is the reduction of stocks. ’ it is well known in commercial circles that in most lines the wholesale ami retail business has been carried on by forced sales for cash, very often at below import prices The necessity for this is obvious. A great depression existed in England, as well as in Europe, resulting in extensive bankruptcies and the closing of business houses ; this in turn caused a tightness in the money market, the outcome of which was that' Homo houses were compelled to exact very s'fulgent terms with their customers in the colonies. This again forced the latter to realise—even at a loss—fop ca-h. Cash mint be got at any sacrifice, hence the itineracy of many of the New Z aland houses in order to sell their wares So much go In ye these forced sales been carried out, that every v llage and hamlet has been ' flooded by bills and posters, advenisi'ig from 15 to 20 per cent under the former prices. This has raged for the last nine months, consequently every house is now running short of stocks, and prices of most commodities will advance. The

present, therefore, is an opportune lime for everyone who is able to lay in what of the various articles they are likely to require for the next year or two, for they may rest assured that they will have higher prices to pay twelve months hence. The good effect of this reaction will be felt throughout the whole colony by a re. ival of trade, Another good feature is the sale of 85,000 acres of land in South Canterbury to a new importation of farmers. The money paid for this block of land—£s9s,ooo ,will not circulate in New Zealand, or at any rate not very much of it, agtlie New Zealand Loan Company, whose head-quarters are in London, will doubtless retain the capital there in ,the first instance. Such a large ii flux of small capitalists cannot fail, however, to have a further good effect by enhancing the price of other lands yet to sell, and will give a much better standing to small holders, whose credit, by the doubtful value of their various freeholds, has for sometime past been almost nil. Of all classes of an enterprising community the agriculturists suffer first and severest. When a time of- depression comes a far-qier-s' hill, which, in prosperous times, is considered good value for a few hundreds, when a time of depression comes round. Unfortunately the last season, which was looked forward to with great confidence, has brought universal disappointment with t, and many have had to succumb to the force of circumstances. This is much to be regretted, as, in our opinion, this dark cloud bears with it a ray of light, which, we think, will yet expand sufficiently to dispel tl e darkness. In short, there are prospects of improvement for next season. Space will not allow us giving data for our arguments. In a future issue we will likely do so. Suffice it to say that rural land has reached its lowest price, and if Government ful fil their promise to retrench and avoid further taxation, things will improve slowly hut surely. Just now money is abundant in New Zealand, waiting for investment, and 7 per cent would not now be refused if the security was good. Let land begin to rise in price, and dormant capital would soon ciiculate, followed by a demand for labor. This is the channel for us to expect adversity to flow from. One great strength is iu our agricultural lands. If properly utilised, our resources would be enormous. A good soil and climate, with a go ahead ; yeomanry, will help to make things prosperous, What,then,have we to fear ? Nothing, Away, then, with croakings ; let us go at it with a will from the Government downwards, and the evil prognostications of those miserable souls who are always predicting mischief will vanish into thin air. With all its faults the Government is i,n earnest about reducing expenses, but it is deficient in ideas as to how’ to utilise the labor which they propose to dispense with. The reduction is considerably lessened by compensation. Why are these claims not settled by land grants instead of money ? There is plenty of land in the North Island. Dismissal only aggravates the evil the colony is suffering from, ft is not a wise policy to swell the list of unemployed. Many worthy meu have to bs paid off. What are they ta do when they go 1 The few hundred pounds for compensation will soon be gone. Why not give them a home If Government listens to the advice of our humble suggestions, it would provide these men with laud to settle upon. It would do well if Government would look up new manufactures Let it take, a lesson from our 'Sfankee cousins We can see ample scope'for opening up several valuable in ’’Neyv Zealand, but private individuals are unable or unwilling to embark in them. If the Government would advance money at low nicest, some of them could be started, im'mediately. In Amerca this would be speedily done. It would pay well for the Government to send a delegate to the

Stated just to pick up information. He would soon find enough to astonish the natives. If space had allowed we could point out some of their industries, but in the meantime we must content ourselves by throwing out hil ts that clear heads may amplify at iln.-ir season.