The Wairarapa Daily TUESDAY, NOVEMBER 17, 1891.

Wairarapa Daily Times, Volume XII, Issue 3965, 17 November 1891, Page 2

The Wairarapa Daily TUESDAY, NOVEMBER 17, 1891.

The following cable from London conclusively proves that the Ballance Ministry has inflicted a serious injury on New Zealand. The message runs as follows : " The principal financial houses in London deny the statement made by Mr Ballance, Premier of New Zealand, th<»t the taxation oohcy of the Government is not expelling capital from the colony. They declare that the policy is a suicidal oae, and assert that many instances are known of the withdrawal, or contemplated withdrawal of large aniountsat present invested in New Zealand. The land companies in London which are con nected with the colony contemplate taking combined action against the taxation proposals, and will probably submit a united protest to the New Zealand Government in the matter." As yet we have but the cloud no bigger than the man's hand, but the storm will inevitably follow. When farmers have to pay a higher rate of interest on their mortgages, when money for improvements is lacking and thousands of men are thrown out of employment, the people of New Zealand will realise the evil that the Gove .iment has brought upon them. At present things go smoothly, for the j Government out of the Public Works! fund are providing for the unemployed, and those who are not spoon-fed by the State, have great expectations of j land grants or other favours. But there! is a limit to the resources of the Government, and the time will shortly come when the needy will have to be sustained by promises alone. This colony cannot be run successfully on Socialistic lines, nor can a satisfactory substitute be found lor hard cash. Those who possess money wjll not suffer because they will be nble to command a higher rate of interest for it, the people who will have to bear the penalty of the Ministerial blunders will be the men without means. The men who want to lend money will be right enough, but the people who want to borrow will have a bad time. J'gnorange has been at the helm in New Zealand for tiie past twelve months and the penalty be paid J