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Wairarapa Daily Times, Volume XV, Issue 4615, 8 January 1894, Page 3

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from (be report wished a Daily Times : the Agenttimes. He is a (he City, and I believe Be vigorously, and I much respected by whom he was brought 'He stands well amongst and is looked upon as a 'judgment is quite to bo and that is a great thing I do not i>'» betttr Agent-General The appointment of bo was, of course, eihas turned out very bas Bbown great and has consolidated them favourable terms for the I I:- THE PBEMIER. lith, respect to'your present lr, Mr /Befldoii bas succeeded, lightly or wrongly I do not say, but be baß succeeded ■the .confidence of the public; and tbere is whatever in my mind that : the elections been out of office, it -ratefor a time, Have influence upon market at Home, own ■ opln> of nearly all with incontact, bis being popular

as Premier, I believe, is that without borrowing the fiaancea have shown a surplus, Of course, that is due to other oiroumstances, but ho has the whole credit of it; it is something; marvellous. . v ' GENERAL, " The financial depression is increasing in England, and there is b great deal of uneasiness as regards the near future of the mouey market. The losses made by foreign investments during the last three or four yen re bave been enormous. There has been in England a period of excessive speculation, and they are now experiencing the reaction, I have no doubt we have not Been the worst; but the effeots are very sad: you hoar of so many cases of persons' being re» ducd to poverty. Things are almost as bad in England as iu Australia. Persons of small means have been risking their money in second-olass undertakings ; these bave collapsed, and tho rosult is widespread ruin. In the highest financial oiroles, as may been seen from articles on ihe bank of England lately, there Is a greatdeal of distruct as regards 'V War future, It is well known \ numbers of trust companies in \h immense sums have been invest Rarest the point of collapsing, and must collapse owing to the great fall of securities; and there is nothing like the same amount of money available for lending that there was three or four years back. The loss in England during the last two years have been enormous, In South American securities, England has £250,000,000, and the depreciation of these securities during the last two years has been at least 50 per cent. Until thoso countries get a specio currency things cannot be sound, and of that there seems to be no pro'speot. The paper currency of South America is reduced to such an extent that £1 in paper is only worth 8s in coin. In the Argentine Con federation they are trying to remedy this state of things by burning a quantity of paper money every year to reduce the amount in circulation. The object lessons thus afforded should be of some value. The paper currency keeps back the South American countries, for those that have a silver currency have not suffered anything like proportionately."