The Temuka Leader TUESDAY,, JANUARY 3, 1888.

Temuka Leader, Issue 1681, 3 January 1888, Page 2

The Temuka Leader TUESDAY,, JANUARY 3, 1888.

THE PAST AND COMING YEARS. The year which came to a close at midnight last Saturday was in some respects remarkable. In the history of the British Empire it will always be memorable as the year of , the Queen’s Jubilee. The Jubilee was certainly celebrated in a manner befitting the occasion: the people in; all parts of the vast Empire did all that could be expected of them to show their loyalty to the, Queen, and the event was celebrated in a manner that left little to be desired. The people did their part nobly, grandly, and loyally, but we must say that we doubt much whether Her Majesty the Queen acted her part in an equally generous manner. Queen Victoria, according to all accounts, is immensely rich. She has, according to reports, invested her money well, and it is accumulating and increasing at a rapid rate. Considering the generous and noble manner in which her subjects in all parts of the world have celebrated the Jubilee, and considering the valuable presents she received, one would think that she would have embraced the opportunity to inaugurate some scheme to benefit the starving poor of London. So far as w« can learn she has done nothing to mark her appreciation of the loyalty of her subjects. The poor of London still cry for bread, and get a blow from a policeman’s baton. And never has less sympathy been shown for their sufferings. In former years Mansion House and other funds have been established to assist the poor starving unemployed of London, but this year the unfortunate people were fed on bayonets. This blots the grandeur of the Jubilee picture. In New Zealand this year will long be remembered in consequence of the general elections, It was one of the most important and remarkable elections that ever took place in New Zealand, for it was the first- time that direct party issues were put before the people. Hitherto the difference between the policies of. parties was, scarcely recognisable, but the late Government put definite party issues, before the people. ; They proposed to protect the industries of the colony through the Customs duties; to lessen the burden of taxation on the poorer classes and shift it on to the shoulders of the rich, and to facilitate the settlement of large estates by buying iout the large landowners under the Land Acquisition Bill.. These were ’the main features of the policy: of the late Government, and direct opposition to these proposals was the only, policy the other party, put forth. Contrary to expectations the Opposition won. The people have for years been crying out against large estates, and directing attention to the impediment they were in the way of settling people on the land. When the question of their settlement was put before the people they voted against it, and now it is probable that it will be many a year before any Ministry will be so bold as to interfere with the interests of the wealthy classes again. It is needless for us to dwell on the proceedings of the last session. To reflect on it is not a subject to inspire one with hopes of a return of pros perity in the near future. The elec tion of 1887 has in our opinion thrown the colony back at least 20 years, but the free and Independent electors have done it and we must bow to the inevitable.

As regards the prospects of the new year we regret to say they do not look over bright. In fact, we do not think that prosperity is possible under the existing condition of the colony. Good prices would no doubt improve matters, and so wonld-fa good harvest, but while our money is leaving the country faster than we can make it we cannot be prosperous. In the outlook we can see only one bright spot, and that is a cheaper rate of money. Since this time 12 months the banks have reduced interest on fixed deposit by per cent., and now the deposit rate is only from 2j to per cent, per annum. The result of this reduction will be that those who have money in the banks at fixed deposit will not be satisfied with the present rate, they will doubtless look out for some other investments and consequently money will become cheaper. How far this will affect the general prosperity ?enjaips £o be seen, j but so fan as we can see there is nothing else which gives us room to ‘hope, The outlook is indeed dark i’pr Hew ’Maud/ but let p place faith in the old saying, that "it is always the darkest the hour before dawn,” and hope for better times. We wish our readeys “ 4 Happy New Year.” *