THE Evening Star. PUBLISHED DAILY AT FOUR O'CLOCK P.M. Resurrexi. WEDNESDAY, AUGUST 6, 1879.

Thames Star, Volume X, Issue 3315, 6 August 1879, Page 2

THE Evening Star. PUBLISHED DAILY AT FOUR O'CLOCK P.M. Resurrexi. WEDNESDAY, AUGUST 6, 1879.

In th* debate on the passing of the Loan I Bill in the House yesterday the hon. member for Gerald me (Mr Wakefield) was pleased to express his virtuous indignation at this incessant borrowing,'which must end in a serious crash. Other Southern members < expressed similar views, and we have no doubt but that many members of the House of all shades of political creed are looking fearfully " to the future in the distance " in connection with our already respectable and increasing national debt which at the present totals up to about £22,000,000. For ourselves, we have every confidence that the vast, though yet but partially developed resources of our country, are perfectly capable of bearing the weight of our national liability, though it is of course necessary that the raising of fresh loans should only eventuate as inincreased development of the resources of the country enables us to bear proportionately the greater responsibilities of an enlargement of our debt. However, it is not our intention at present to deal in full with the large question referred to, but only to point to the remarks of the, Southern members on the Loan Bill last evening as instances of the selfishness of the representatives of squatterdom. During an unbroken chain of several years, these people held the reins of power, borrowed £22,000,000, and spent about threerfourths of it on the plains of Canterbury and the straths of Otago, while the rest of the colony 1 had to watch the expenditure like hungry dogs at a feast, now and then fighting for a morsel thrown contemptuously to theml by their masters. These Southerners gorged themselves with the bulk of what should have been divided equally throughout the colony and now, when they see justice can no longer be withheld from the North, they Pharisaically turn up the whites of their eyes and wonder when the crash will come ! Such are the men who denounced the Loan in the House last night.