THE FINANCIAL CRISIS.

Wairarapa Daily Times, Volume XV, Issue 4430, 29 May 1893, Page 3

THE FINANCIAL CRISIS.

Handsome Offer fiom the Cape.

■ Iho Premier has reccired, through the Ageni-Ueneral, an expression of of the sympathy of tbo Cape Government with tin: colonies in.llieir financial troubles, and also-an enquiry whether thoy could do anything to restore public confidence, erlior by the purchase ofYictoiianand Now South Wales S'ock in the open ruaiket, oran unissued loan/' ■■■■■/«■■%< ■ "■

.Sir Andrew Cl-iik and Sir Saul Samuel^plied, thanking tho Oapn Govoiiiuient for th« offer, which they sia'ed it was expedient to : decline, as tu.ij?maikctwas improving. vvfHir '■■ George ■ Dib'es also-- cabled to Capetown expressing,appteeiatiorriof tlie.isyiiip'-iihy and the offer. ■XTho reading if the communication .fr(jfrj:,:tlie jCa] was' h . wivc'd;;w.ithf cheers jri.tl)o.'.Le«islaiiv'o fiembly,'.;':i.:- : :V;-s- -. -v4~y. ■■-■;-"■

«.: The-' .yietoriair-'Government'-hns .mauc'a-spec.ial.'doposit. of £1,000,000, to meet .'treasury bills'; .The amount was 'obtain'cdjyth.rough'.lMr - Panni tire ..'■»,'-.-."Ciißisfcßuhoii/'May %f'

■'; Atibo quarterly meotihg' of Bite .■■Chanibei'vofi;, Commerce- ,to-day, the Presidentv(Mi*. E., S.; Harley),' in : lii 3 'atldr'es3 't;V tha : ' :; iheail)brdi' uas .1 e r - ! refe '•' Mce.'tptbe'finnnciai orisis; iii/fAusH ■ irii 1 i nv: H° s aid Now;. Zeala ut d' oug li V tb:bo.C'jhgratulaied.. .oii\ tli»,;diaci;t;et. a.tt.itucioiof^its:::pu6plri J iri;Alio ;: e inorgV oncy,-. -.witnessed tb.e" depositors in:..; Autstrnlia. io -.sec/ure/Mheir;,gold, ijiwhilßt/thVy themselves/'.; lind"." been >Batißfietl "to iawait'-'tliojissuo rather -...than increase' :embarra3sment.r7 by "displaying a ■Wiirit;of--confidence/: in;V .hankiiig hi-, stitfltipns..,.'.rji)me,'timo,-. must elapse .ereutho : recoastruotcd ;bnnks- resumed with. theiryawts,'- 'Meanwhile; con'siderablo''inconvenience niu«t/.be.'oh-#ured/:.rOwing;.-to,,the lock-up .of m»iiy: : millipns ■sterling ;on;^. deposit, money..would'he ecarce,.,witb. the reHiilt': that tea' ofintertst would ativancei This wotild/produc6 a deterrent effect, op enterprise; and although NewjZoalarid had not iii any way con-'ttibuto;toUbe|;lin)nciaJA.dwaßtei-s."pf theJa'stfew/-weeks', ;jt would-suffer : alike''in' this .'respect ;with : ; its" neigh-■bdnra."-'^'V:-'^-''!-'^- 1 .V; ~.',..'.'"/,.!;■