The Wairarapa Daily. THURSDAY, JUNE 8, 1882. THE NEW LOAN.

Wairarapa Daily Times, Volume 4, Issue 1094, 8 June 1882, Page 2

The Wairarapa Daily. THURSDAY, JUNE 8, 1882. THE NEW LOAN.

Thr expediency of a new loanis an article of faith with the Opposition, and ha 3 been accepted with some hesitation by the. Government. We believe m are right in asserting that Ministers have not come to the conclusion to borrow without some misgiving. They are too honest to freely favor a policy r which exposes the colony to a reverse similar to the one from which they extricated it three years ago ; but then if they did not propose a loan they know that the Opposition would carry ono against them, and they conclude that it is safer for them to play this trump card. We are not at all sure that the present position of the colony justifies a three million loan. Of course we aro aware there is a surplus, and this is taken to be a sign of exuberant financial health, but if we inquire into the causes that have created a surplus in the past year's accounts, we shall have little reason for congratulation. First, through over-importation, the Customs' duties have been high, but against the excess of revenne from this source must be placed the disadvantage of over-trading, the. draining of money out of the colony, and the possibility of banks having to put on the screw to check it. If three millions are to come into the country there will be no turning of the screw, but then the evil of over-trading, instead of being checked in its initial stage, will be allowed to grow till it cannot be cured without a 'flood of insolvencies. The commerce of New Zealand is now in an in- ■ flated and artificial condition, and a new oan is needed to prevent the disclosure of its precarious state. No doubt the Colonial Treasurer will

congratulate the country on improved returnifrom the railways, but we fear that even these are in a measure due.tb the economies which have'been practiced in their management, and that in. reality a good deal of the plant and rolling stock has become depreciated from want of proper care and attention. ¥o have certainly turned tho comer and weathered tho difficulties which besot the Hall Ministry when it was first formed, but it is not a healthy sign for us at the earliest possible, moment to rush into the London money market. It is a melancholy fact that New Zealand cannot be carried on for a single year without the aid of borrowed money. During the past year whop there has been a minimum expenditure of outside capital, we have done better than when a larger loan" expenditure was in course of dissipa- ; tion. If Ministers could only concentrate their attention on the opening up! and settling of the interior of the colony by ordinary roads and leave railways alone for a few years, we should be in less danger of financial, reverses, both collectively and individually. In the Assembly there is a considerable number of..members who recognise the inadvisability of further borrowing and we sincerity trust that their counsels may prevail.

Country ratepayers are requested toremember the voting at the Town Hall on Saturday next in connection with the Institute loan. Mr 0. J. Freeth has sent in his resignation as ranger to the Masterton Borough. A challenge has been received by the secretary of the Masterton Football Club

from the Greytown Club. A good match is certain to eventuate, in which Greek will meet Greek. There are thirty-two Scotchmen in the Houso.

Tenders are invited for splitting palings and nailing them on about two and a half miles of fencing.

After tho delivery of the Financial _ Statement there will be two new partifis in the House-borrowers andanti ; borrowers.—Auckland Observer. We direct attention to Mr W. Clark's new advertisement of the Featherston Branch of his extensive drapery and clothing business.

Mrs Giles, of Carterton, gives notice of her intention to apply for a license for the Marquis of Normanby Hotel on July sth, the date of next sitting of tho local Licensing Committee. Tho entertainment of the Colored Opera Bouffe in the Town Hall, Masterton, has been postponed, owing to the Company being delayed by bad weather in the Manawatu.

The usual monthly meeting of the Taueru School Committee was held at Thompson's Hotel on Monday sth June. A letter was road from the Rev. Mr Isitt, asking for the use of the school building for the purpose of holding Sunday School. It was resolved on the motion of Mr Vallance that Mr Isitt's request bo acceeded to. It was also decided that the building should be available in the future for Sunday services. Accounts amounting to £'27 15s 2d. were passed for payment. Satisfaction was expressed at the manner in which Mr Garratt's contract of fencing and other improvements had been carried out, and at the generally healthy condition of the school. ,

Notice is given that objections to tl rolls for the Wairarapa West County wi bo heard at Peatherston on the 16th inst Greytown on the 20th, Carterton on tli 17th, and Masterton on the 17th.

A_ special meeting of the Masterton Institute Committee was held yesterday afiernoon. Present Messrs Boddington (in the chair), Carr, Sellar, Hogg, and Payton, An application was read from the Masterton Debating Sooiely for the use of the upper room, the Society offering to provide the furniture necessary for its meetings. On the motion of Mr Carr, seconded by Mr Sellar, it was resolved that the Society be allowed the use of the upper room at the rental of five shilings per week, and that the furniture provided by it be accepted as a set off for the rent.

The playground and approaches to the Masterton Public School are now a mass of mud and water, Gravelling is urgently needed, but there may possibly be a difficulty in obtaining the money nacessaryfor improving tho environs of the school' It is perhaps a good thing for shoemakers that some three hundred children should be daily engaged in knocking sudden leather against small boulders,

The Bubject for debating to-mcrrow evening, at the Masterton Debating Society is, " Should the British House of Lords be abolished," affirmative Mr A, W. Hogg.

The usual fortnightly entertainment ol the St Matthews' 'winter Entertainmenl Committee, takes place this evening.

We understand that the severe winter weather that now prevails does not very materially affect the attendance at the Masterton Public School. Yesterday 297 children were in attendance.

Miss Matthews a pupil teacher at Masterton has given notice of her intention to resign her appointment in the public school.

A potato-digging matoh against time took place on Thursday (says the Christchurch Press) on the property of Mr Wild, atPapanui- The wager.was that a man named Coonibes could not dig half-an-acre of potatoes in eight hours, the stakes being £SO a side. He won with, four minutes to spare, having dug well and cleanly 73 bags of potatoes in seven hours 56 minutes, The contest created considerable interest in Papuni, The weight of the quantity dug would be six tons two owl.

The Ohristohurch Press speaking of the new loan Bays:—Otago will want a couple of millions or so; and Canterbury, and Westland as much ; and Auckland and Taranaki, though they are not half ready to spend their share, will demand it all the same; and Wellington and Hawke's Bay will not be behind hand; and Nelson and Marlborough will be as venal as ever, and perhaps more skilful in their venality. Hitherto they have committed the sin, but not got the wages. This time they will probably lay their plans so as to be more fortunate. They will combine with some stronger locality that happens to be in want of Mp, and thus form an allied force sufficiently strong to wrest the share of both from the colony. And thus the borrowed money will be squandered again; and thus the burdens of the people will be increased.

A meeting of the creditors of Mr W. E, Gross to oonsider his application for his discharge from bankruptcy, will be held at the Temple Chambers on the 12th inst. at 3,30 p.m. . '.-.. The meeting re formation of a Borough ' takes place at the Public Hall, Carterton to-night, commencing at 7.30. The question has been the staple snbjeot of conversation in the township during the fast day or two,

Our Senators are supposed to adjou'n the b.usjness of the. country at< five p.m. this afterqbon with a vier to'balancing themselves'on one leg at the Naval Ball

In _ the Resident Magistrate's Court at Wellington to-day, in the.; case Stevenson & Smith v Masterton Union Club, judgment was given-against Mr Dalrjraple (president) and Mr Ohinelien (treasurer), the other persons sued not proved members of the Committee.

The Government .intend bringing forward proposals in favor of free female emigration, There is blue sky ahead for aervantless matrons!

A new method of collection has been adopted in a Presbyterian churoh in America; small boxes with a slit in the top and glaci in the sides are fastened to the backs of the pews, Then before the sermqnthe pastor steps to the deik, and after repeating 1 Oor. xvi. 2, " Upon the first day of the week let every one of you lay by him in store as God that prospereth him, that there be no gatheriut-s when I come," says, "Let us further worship God by contributing to h's Bervice." Then is heard all overthe house the dropping of the change into the boxes It requires but a minute of time, and the plan is pronounced most successful,

Mantles are now being made in the rich heavy_ materials fashion diotates shall be worn in the present Autumn and coming 'Winter. Si'k Maklasse, Stamoed Velvets,' 'Hiißh, Moi e Silk, Brocje Si'L will be used !a.-gely fo: Wraps and Jackets of all kind?, The shapes mosi in vogue comprise the Granij. Mother flubbard, and, par excellence, tup Dolman in its many varieties, Stamped and Brocaded Velvets are largely used in conb : nation with other materials for ladies' i resses. Nothing can possibly exceed in richness of effect a Brocaded Velvet Dress with (Jashmeve drapery and overskirt looped toKßt.iar.moh rich Uordand Tassels, Ladies can select their own materials at Tk Abo Hoes a, and. have either mantle or dress made in the latest styles and with prompt despatch in the dress and mantle rooms of TKAnoHODBE.-fADVT.I

: In directing our readers' notice to B. A. Gardener & Son's new advertisement on our front page, we wish them to notice the extraordinary way a business can be made to eo ahead, when properly managed. Two years ago this firm started their business in Carterton, neither knowing or being known by anyono. Their destiny was forshadosed by not a few (especially storekeepers, two of whom have since resigned). There no fewer that eleven Stores in Carterton at that time their chances of success were not any too good, nevertheless we have to record that this firm have imported direct from Home during that short period goods to the amount of £25,000, and all paid for. Where is it all gone, we ask ? The answer is simply—Sold I This firm has never been afraid to trade in their own name, hence their success.—[ldvt.]