OUR CREDIT

Temuka Leader, Issue 2391, 27 August 1892, Page 2

OUR CREDIT

Notwithstanding the frantic efforts that were put forth to destroy the credit of this colony during the last twelve months, she stands now in as good a position, if not better, than she has ever done in the London market. This is shown by the price of her inscribed stock in England. Inscribed stock consists of—to put it plainly—the promissory notes we have given to people in England for the loan of money. The World, of July 16th, says:—

" As tbeappendei figures show, New Zealand bonds have fared much better in the past few years than any other Australian issues:—

Four per cent Current Yield Highest Inscribed Stocks. Price, per cent, price 'BB.

Now this is worth looking into. The inscribed stock of New South Wales during the last four years fell from 118 to 108, that is over 10 per cent; that of Queensland from 111 to 108, or over 8 per cent; South Australia from 112 to 105, or over 7 per cent; Victoria from 113 to 104, or over ( J per cent, and the only one of them which has not gone back is our own colony. This is something to be proud of. She used to be referred to as the Cinderella of the Australian group a few years ago, but now she holds her head as high as any. And she ought. None of them has her resources, her climate, or her natural advantages, and if we only go to work like sensible people she will soon be "first flower of the earth and first cem of the sea," so far as the southern hemisphere is concerned. Let us not be frightened by villainous cries raised to frighten us, but go to work to settle her lands, so as to yield as much as possible, and before very long we shall all enjoy peace and prosperity.

New Zealand 104 3* 10-4 New South Wales 108 3 11-16 118 Queensland 108 3 13-16 111 South Australian 105 35 112 Victorian 104 3-i 113 ”