Wairarapa Daily Times. [ESTABLISHED 1878] SATURDAY, JUNE 25, 1892. A LOAN HAND.

Wairarapa Daily Times, Volume XIII, Issue 4148, 25 June 1892, Page 2

Wairarapa Daily Times. [ESTABLISHED 1878]

SATURDAY, JUNE 25, 1892. A LOAN HAND.

Being tub extended title of the Wairarapa Daily, with which it is IDBNI'IOAIi.

From time to time, dark hints of the necessity of borrowing—adumbrations,.as it were, of a new loan which is coming round the corner—have readied ub through the medium of Ministerial Bpeeob-making or inspired journalism. As to the speech-making on this subject, it has been (we think) the special prerogative of Mr Seddon to make jovial references—generally at banquets—to the possibility of completing this, that, or the other deserving publio work, if only the money could be found, Aud the hou-i ourable gentleman goes on to make airy mention of the money-market. Some of his hearers begin to think that he is telling Cabinet secrets. Not a bit of it. Mr Seddon is wide-awake; no' cats have been let out of bugs by himi during the long course of publio victualling of which he has been the smiling viotim during the recess. Nevertheless every time Mr Seddon has delivered himself of these little remarks, the Opposition journals havo Btar|ed a knowing chuckle, led off by the experienced Evening Post, (What journal better fitted to direct the sentiments of the Opposition than the Post, which has been all its life in Opposition?) To the quick wits of Opposition journals it has been clear thai Mr Seddon is the enfant temble of the Ministry,' that he is always blurting out things which have to be delicately explained away in the Ministerial organ. ' Consequently there has been a rush for the New Zealand Times, directly after eaoh blow-out tendered to the-Minister of Public Works, to see how that well-informed journal would get Ministere out of the tight place in which their colleagues had put them by the supposed incau« tion of his utterances. But the ability of the Cabinet, mdividually and oolledively, has been under-rated, There-never was any incautiononMrSeddon'spart. There never was any accidental mention of harrowing which should have been kept dark, Each banquet oration was as carefully considered in its Beemingly casual language as; though it had been a formal manifesto. The, pulse of the publio was being delio-' ately felt, all the time; the way was being paved for further borrowing which was, all along,.'deliberately, intended by the Government, Thn last stone of this pavement was, so to speak, laid, by the Tim on the2?nd ulfc. Through a paragraph immediately foMnj' the. leading srfi.ole, the truth is permitted to om? out upon the simple public, It wiCdpubtlesa, be pointed put to all and sundry,,that the statements of the Times are' un : official, wanting ip. j#prity, and so on.Ofconraofcliey are; weundprstand all that. Still.these are, ae.a matter of faot, the statements of the Times : There will be a loan; but it is likely i to be raised within the Colony.

The plan ia simplioily itself, aod not less,- admirablei in its j ingenuiby. The money ; wijl be .got;.while at' 'the Bame time tfio repdtatiori of -the Min* ißtry vrillbe saved. To go" to the London market at the present time would be too glaring a violation' of past assurances given by Ministers; and even a Liberal Ministry must affect some little occasional consistency. Therefore the money ia to be borrowed within the Colony, It is true, a considerably higher rate of interest will be payable; but we shall bo told to oheerup, since the interest will remain in the Colony. We fanoy, then, that we know at last what we. may expect. Perhaps that famous bridge over the Eangitikei River wjllnow.be this, unluckily for the Eangitikei settlers, will depend entirely upon the result of the election,. Perhaps, too, thejatest touching appeal on behalf of the Otago Central Railway may meet with substantial though this. will, turn a good deal upon the number of faithful Liberals

that Mr Vincent Pykecan guarantee to the Government for the session. At all events, we congratulate those constituencies whose representatives in Parliament are Government supporters. They will get the fat. (What joy to reflect upon the political colour of our own Mr Hogg, by the way). And finally we congratulate the members of the Cabinet on their joint and several abilities. They will never be great men j but thoy will be remembered as having shown themselves clever.