Wanganui Chronicle. AND PATEA-RANGITIKEI ADVERTISER. "NULLA DIES SINE LINEA." TUESDAY, NOVEMBER 8,1887.

Wanganui Chronicle, Volume XXX, Issue 11637, 8 November 1887, Page 2

Wanganui Chronicle. AND PATEA-RANGITIKEI ADVERTISER. "NULLA DIES SINE LINEA." TUESDAY, NOVEMBER 8, 1887.

It is amusing to hear Major Atkinson blamed for the fall in New Zealand , stock that took place at Home after the delivery of hie Financial Statement. Surely it is not eonteuded that the Major is responsible for the £400,000 deficiency for the oontinuance during the last three years of a scale of expenditure entirely unwarranted by the pre« sent condition and resources of the colony, or again for the necessity forced . upon the Government to endeavour to negotiate a further loan. What has the ( Major done ? Why, even Opposition ' journals— those*, at any rate, withhonourable instincts, and that admire straightforwardness—have acknowledged that he has but told the simple, unvarnished ' ( truth, auii have hi>>" i_. c ..jnended him for his mani'osL grasp of the situ« ation, and his strong and sensible pro* , posala for meeting the ohanged circumstances of the colony. It is not to he 1 wondered at that, following so closely upon the Bank of New Zealand's omission to pay the customary dividend, the Statement should have caused a temporary reduotion of confidence at Home, as proving that the extrava* gance and maladministration of the late Government were even worse than had been suspeoted. That fact, together with the bold statement that the Go«« vernment prepared to go upon the loan market again almost immediately, have very naturally increased the unfavourable feeling that at present prevails at Home with regard to New Zealand, But there is little room for doubt that, ,' when the Statement itself reaches i. London, the Treasurer's plain and honest version of our affairs, and his bold and thoroughgoing proposals for restoring equilibrium between our revenue and expenditure, will do more to re-establish confidence in the colony than anything that has been done or published for a long time past. When also the further fact is made clear, that the new ■. Government are backed by a strong and staunch majority in Parliament and in the oountry, who see eye to eye with them in the matter of retrenchment, in the present limitation of borrowing, and in its total cessation at an early period, then may we sonfidently expect that the bad name which ' the colony has earned for itself during the last three years will soon pass away, and that we shall rapidly be restored to our former position of favour in the eyes of the people at Home.