The Wairarapa Dialy. WEDNESDAY, FEBRUARY 24, 1886. THE DEPRESSION IN THE SOUTH.

Wairarapa Daily Times, Volume VIII, Issue 2228, 24 February 1886, Page 2

The Wairarapa Dialy. WEDNESDAY, FEBRUARY 24, 1886. THE DEPRESSION IN THE SOUTH.

It has been a matter of notoriety thai during the: past : few years the Middle Island of, New... Zealand . has: Buffered raoro from depression than tho North Island. Hence lias arisen tlio bitter feeling: which : has been so ft equently. manifest<id .towards us by our southern .neighbors; jfb.eobservations' mado by Mr Caselberg during rpppnt tour through the Middle Island/aiid miblished by us in our last two issues, ar# of special value, as tending fca : explain the: exceptional .condition of- settlers in the South. . The Mayor of' Mastertoii is .<« sln'Hwd, /dispassionate.; observer, accustomed to look below the surface as well as on it; and. his wide, business . experience . .gives,his "expressed - ccmvictionjs aspecial value. . According, to Mr. Caselbcirg' the fault of our southern neighbors hag .Veen "the one" so common in: this Golony;. They have been. discounting tho future Jjy -an unwise pxpendituio of vast sup of borrowed money. Beside: tho;burdens which fail 011 the shoulders of tic colony, they have incurred.other serious liabilitie.si'whicb press heavily on them. Private ''''indebtedness has .kept pace with' public extravagance, and overspeculation is. now luring bitter fruit, ■We .are.: pleased. to observe, that.. Mr; Caselberg points out the Iruerenjpdyfor this state of affairs, viz,, the. practice of public and private economy.. The infatuated settlers of tho . Middle rslar4, however, are trusting; to a speculative remedy which will no doubt postpone the evil d?y, 'out which . can not avert it. Perhaps fcije interesting portion of Mi' Caselberg's iMeo is that. which contrasts tho rapid development of the towns, with the slower progress of the country settle'' ments. We have a'ways maintained that if country settlers were prosperous, the towns must be thriving, but thit it was possible for towns to flourish at the expense of the country. Those who have the welfare of New Zealand at heart, must see that the colony is prosperous only when country settlers are doing well, The produce of the soil is our main chance, and when we cease to rely upon it, wo drift into difficulties and embarrassments.