THE Temuka Leader. TUESDAY, NOVEMBER 28, 1893.

Temuka Leader, Issue 2587, 28 November 1893, Page 2

THE Temuka Leader. TUESDAY, NOVEMBER 28, 1893.

CHEAP MONEY,

A GLIMPSE OF HISTORY. It would not, we think, be inappropriat to give just now a glimpse of the his torical development of our politics institutions. In the Middle Ages almos everyone owned a piece of land, and thosi I who did not had a right to utilise tin co 'mmonagea, which were to be met will overyw’'^ o, The revolution whicl took place in .> i(Hh eeQtur y changec all this. The lands d the were confiscated, and those \>.° depeudec on them for a living were thrown , world. The trades guilds also ownec. immense lauded properties, and these, too, were confiscated as well as the commons, and thus the people were despoiled by the landocracy. The result was, of course, that large numbers of people were rendered homeless, and the condition of the poor became deplorable. The country was overrun with persons who had not whereon to lay their heads, and very stringent laws were made to punish them. A working man could not ask nor take more wages than was allowed by the magistrates, who fixed the rate of wages; ho could not leave the parish in which ho was born, and if he disobeyed these laws he was treated with fiendish severity. Thus the workman was bound down hand and foot. In order to keep up the rents which the landlords derived from their properties, they put on high protective duties, and when that did not do they gave a bonus on the export of wheat. Things grew from bad to worse, till about the beginning of the present century the rate of wages was so low that the men could not live on what they received, and had to be assisted by charitable aid. Thus all along from the 16th to the 10tli century the whole ielea,

of legislation was to bind the workers in slavish fetters, and to cripple commerce by protective duties, so as to ensure high rents to landlords. Then rose the political economists. Adam Smith led the way and ho was followed Jby a host® of others who preached the doctrine that the State should not interfere in the affairs of men but as little as possible. These doctrines were taken up by the Manchester school, and henceforward legislation turned in the direction of individual freedom. Those who wanted to keep the people enslaved and maintain high rents by means of protective duties were the Tories of the times; the Manchester, which is sometimes called the Cobdon and Bright, school were the Liberals. The Liberals succeeded in removing many of the most irksome restrictions placed on individual liberty, after a severe struggle, and then began the reign of “ the survival of the fittest,” The theory underlying the Liberalism of the Cobden and Bright school is that so long as the State gives all a fair field and no favor it has no farther responsibilities, and that if people possessing these liberties do not succeed it must be their own fault. On the face of it this is wrong. In the first place it is impossible for everyone to become rich, and where some, through dishonesty or superior capacity, succeed in accumulating more than a fair share, then those who have been despoiled must suffer. But circumstances favored the new doctrine. With its inculcation came the discovery of steam, and a wonderful season of enterprise and prosperity set in. The great continent of America, as well as these colonies, widened the field of labor ; the world began to go ahead by leaps and bounds, and it was all put down to the new policy. The honest truth is that the new policy had very little to do with it, and now, when there are no more colonies to people, no more railways to build, and the field of labour is narrowing daily, the pressure is increasing. This is becoming more and more apparent. The result which individual freedom has yielded is that the wealth of the world is getting into fewer hands yearly, while poverty is on the increase. The rich are getting richer, and the poor poorer. We have given this glimpse of history, becauseit wasou the principle of individual liberty this colony was governed until a few years ago Up to that time there was no restrictions placed on acquiring lauds, and it was allowed to fall into a few hands. All legislation favoured properly ; there was scarcely an Act of Parliament promoting the interest of labour on the Statute Book until the present Government come into power, and this constitutes the difference between Liberals and Conservatives in this colony. The old school of Cobden and Bright believe in the doctrine of “ God for us all, and the deuce take the hindmost.” They believe in legislation which favors the production of wealth, but does nothing with regard to its distribution. It is this policy which has thrown the lands of the colony into the hands of a few, while thousands are homeless. The present Government have been trying to alter this, they have been trying to undo the evils of the past, and hence the reason thatso much abuse hasbeen heaped upon them. They are called communists, socialists, and so forth, just because they are making an attempt to help the poor and lowly. Let us hope that their reign will be long to carry on the good work.

We publish this morning a cablegram stating that the Sydney Daily Telegraph disapproves of the proposal of the New Zealand Government to borrow in Loudon at afcheap rate and lend to farmers in this colony at a cheaper rate than they can got money from financial institutions Now the position is this; Owing to the bankruptcy of financial institutions in Australia ami this colony, English money-lenders are afraid to trust their m moy in such hands any more. The result of this, of course, would be that we should very soon have hard times iu this olony, and representations to that effect were made to the Agent-General in London. The-e English money-loaders would have no hesitation in lending the money provided the Government guaranteed repayment, and it is on that basis the scheme is to be worked. The Telegraph knows nothing at all about this; it is debating a question which it does not understand, and consequently is no guide iu such a case.