The Temuka Leader. SATURDAY, APRIL 18. 1891. THE TE AROHA ELECTION.

Temuka Leader, Issue 2190, 18 April 1891, Page 2

The Temuka Leader. SATURDAY, APRIL 18. 1891. THE TE AROHA ELECTION.

If there one thing which gives us pleasure more than another, it is the unseating of Mr W. S. Allen for the Te Aroha seat and hia disqualification for 12 months. Mr Allen is an Englishman who arrived in New Zealand and bought an estate in the North Island some twelve months before the lest election. He bad previously been a member of the British Parliament for many years, and when he arrived in New Zealand the yokels of Te Aroha at once jumped to the conclusion that in him they had a Leaven sent legislator, and he took good care to encourage the delusion. Long before the election he delivered to them an address, announced his intention of contesting the seat, and then went home to the Old Country to look after his business, leaving members of his family to look after his interests in New Zealand. While at Home he offered himself as a candidate for a seat in the House of Commons, so that he was a candidate for an English and a New Zealand constituency at the same time. The English constituency knew enough about him already, and rejected him, but he was more fortunate in New Zealand for he was elected, but by means which brought him in guilty of corrupt practices. No doubt many will think it rather hard to punish a man for the acts of bis ageuts while he himself is 16,000 miles away, but there is this to be said: If he had not given his agents authority to spend money on his behalf they would not have spent it. We are glad on this account that be was defeated. It may teach some of those who at election times spend money lavishly, and in violation of the law, to be more careful in future. We have a stronger reason than this for rejoicing over Mr Allen’s discomfiture. He came into the colony knowing practically nothing of its history and politics, and consequently was an uufit representative. Besides this, it was perfectly ridiculous to see a man trying to get into the House of Commons, in England, and the House of Representatives, in New Zealand, at the same time. It shows pretty plainly that he was prompted by petty personal ambition, and not by any true feelings of patriotism. There can be no doubt but that if be bad been elected to the House of Commons he would have remained in England and allowed New Zealand to look after herself. It is not men of this stamp we want, more especially when while posing as an English Liberal be embraced the Conservative side of politics in New Zealand. Colonel Eraser, on the other band, is a thorough colonist, a true liberal, and a capable man, who understands the requirements ©f the colony. He has been several years in the New Zealand Parliament, where be has taken a good position, and it was a most extraordinary thing for the Te Aroha electors to reject him and elect Mr Allen. Of course, personally we know nothing of Mr Allen further than what we have stated. In all probability he is a very worthy gentleman, and worthy of respect, but we strongly object to the principle of rejecting old and tried colonists for a now chum ” who is running about to see where he can get into Parliament.

THE VICTORIAN LOAN.

Victoria has received a severe snub in the London money market. For years she had only to ask to receive there at a much lower rate of interest than any of the other colonies, but these were the days when Victoria was flourishing. A few years ago she got up a land boom, and fictitious prosperity, with the result that the sharpers amassed immense wealth, while the people as a whole lost largely, and it left the colony in a terribly depressed state. The result is that she is at present under a cloud and is trying to prop herself up with borrowed money. Though realising her necessity, the British money-lender has determined not to asisst her, and her loan was consequently a failure. There is also evidence of the existence of a combination to take advantage of her weakness. On Wednesday we were told by cable that the loan debentures sold at 07£ per cent., that is, at £97 ss. On Ihursday, from the same source, we learnt that the loan debentures were selling at par, that is, the debentures bought on Monday for £97 5s were selling on Tuesday for £IOO, thus makinh a profit of £2 15s per cent, on them in twenty-four hours. The London Times, The Standard, and The Telegraph lecture colonists about borrowing, and say they have been allowed to borrow too cheaply. Our opinion is that colonists have been swindled wholesale by the British money-lenders. This is made ' quite plain by the fact that certain .

people who bought on Monday were able to sell at a premium of £2 15s per cent, on Tuesday. It seems to us to indicate that a ring combined together to cry down the credit of "Victoria, so that they might be able to operate .advantageously. The transaction teachea us New Zealanders a simple lesson, and that is not to borrow any more. Let us live within our means and develope our own reresources, and then we shall not be swindled, as Victoria has apparently been.