The Temuka Leader. THURSDAY, JUNE 26, 1884. THE PRESENT DEPRESSION.

Temuka Leader, Issue 1196, 26 June 1884, Page 2

The Temuka Leader. THURSDAY, JUNE 26, 1884. THE PRESENT DEPRESSION.

Mr Twomet's address to the electors of Gladstone has the merit of being original. It also shows that its author is desirous of doing good if he could, or knew how. The condition of the colony is very critical at present ; trade and commerce are terribly depressed, and everything tends to prove that the immediate future ha* not better things in store for us. Under such circumstances anyone who suggests a remedy I ought to receive consideration, and I any scheme which holds out prospects of improvement ought not to be thrown j aside without mature consideration. The scheme laid down in the address referred to is a vast one ; so much so that no cna man could be expected to perfect it so as to render it workable, and consequently if it has faults it is not to be wondered at. It would be more wonderful to find it perfect. It, however, involves a principle, and if that is correct it ought not to be thrown aside because the details ore wrong. What is wanted in this colony is cheap money ; we must have a lower rate of interest if this country is ever to become prosperous again. All men will agree on that point, but it is possible that there will bo a difference of opinion as to the m-jans by which such a state of things may be brought about. Let us hope that the exact means may be found speedily, for there can be no doubt but that it is necessary to do something. Under Mr Iwomey's scheme the Government coald borrow £2,000,000, and convert it into £8,000,000. Fancy a flood of £8,000.000 of money let loose upon us ! If that did not render times prosperous and lower the rate of interest nothing would. However, we shall not discuss the matter further at present.