Wairarapa Daily Times. [Established 1874.] FRIDAY, MARCH 8, 1895. IS TRADE GOING TO REVIVE?

Wairarapa Daily Times, Volume XVI, Issue 4970, 8 March 1895, Page 2

Wairarapa Daily Times. [Established 1874.] FRIDAY, MARCH 8, 1895. IS TRADE GOING TO REVIVE?

Uxdek the above heading, Mr A. J, Wilson discourses in tho Investors' Bedew, on the trade prospects, The article holds first place in the January number of the magazine, and is of a very dismal character; it is, however, excellent rending for those who delight in pessimistic predictions. His deductions hold out 110 liopo for that revival which everyone is anxiously looking for. It is universally agreed that the symptoms which in tie past foretokened a revival of business, are all apparent now, but trade shows no activity, no recovory, and it is even doubtful if the point of l'ecoil in prices has been reached.. Mr Wilson says, " The truth, howevor, is that the " common expectation of a revival " of business, as a result certain to " flow from large accumnlations of " idle bankers' capital or 'money,' " is founded on a confusion of ideas. " What these accumulations gener- " ate, is a revival of financial spccu- " lation. Increased industrial pro- " duction always follows outbursts "of speculation 'new outlets for "capital, 1 because the objects of " such speculation always to some " extentinvolves theout-lay of money " upon raw materials or machinery, "or new buildings, new develop- " ments in manufactures, and so on." The stock revival and financial speculation is now making headway, and stock and sbarebrokers can say business with them is more hopeful, but this speculation is confined to the old and well-known stocks, which have had an aspiring .tendency under such influences. The '' putlets for capital," are wanting, and According to Mr Wilson, the old .channels are picked up with " the ruins, of past enterprises." Referring to these Colonies, he says, pur Australian settlements, it i' j 8 SBO unnecessary to speak, Aca cording W W view them, their "position excites the deppest in--11 donation or the most profound

" pity. Slowly, but relentlessly, " they are being forced downward "into the position of helpless de- " faulters,"

The leaden huo of trade is attributed, according to the writer of tbe article in question, to the great j ( expansion that lias followed " iia- q tional debts," which has exhausted the debtors. Mr Wilson contends j that" nothing is more swiftly ex- ( " hausted than the beneficial effects g "of an expenditure of borrowed g " money." " The more the world is " opened up by means of debt, the v " more prices tend to come down, i " because the scope of competition s " iu production is extended until " the markets of the world come to ( " resemble ' knock-out' sales of " bankrupt effects. Debt obligations, ' " in other words, always force the 3 " hand of the producer. He must i " sell, and sell too, below what t " Adam Smith called the 'natural i price. The correctness of this view, is beyond all doubt, as the , experience of the Colonies, and their , prostrate condition, with annual ] deficits, treasury bills, and borrowing under cover of conversion, amply I confirms. To illustrate the march 1 of events in a debt-making country, Mr Wilson takes the Australasian 1 group of settlements, and says, • " First there is the period of excos- | " sive borrowing, a period prolonged ' " according to the length of time " during which the receipt of bor- " rowed capital continues. This " prosperity is accompanied by "splendid wages for workmen, by " riotous living, by an enormous " rise in prices, (especially, in such " new countries) in the price of land, " by diseased urban developments, " and by a general baloonishness of niind, which conducts the people "by way of extravagant specula- " tions, to a crisis that, tumbles all the " airy structure to the ground. For " a time, tlie people refuse to believe i " that all their dreams and vanities " were pure delusions; but the in- " cessant calls of the usurer for his " interest soon bring them to their "senses. To hopes and extravagant " anticipations of a return to the old " joyous ways, succeed liervclessness i " and perhaps despair. Gradually " the savings made by the few in , " the period of wanton borrowings . " are swept away, and the people s " awake to :i. consciousness of the "ghastly truth that they are mort- " gaged body and soul—the mere , " chattels of the money-lender. Then " begins a drama full of horrors, and " it is the first scenes of this drama " that the communities of Austin- " lasia are now beginning to enact." The picture is skilfully drawn, acs curate in every detail, but we refuse lo admit that it is a picture of ourselves, We may shut out this painting from view as we please, it is none the less true. We are writhing now for our past misdeeds of 1, lavish borrowing, But, is trade going to revive ? If by a revival of trade is meant an advance iu the prices of commodities, - the prospects of a change are remote, | Business, commercial interchange must continue to grow as a mere consequence of increased population. The Colonies have a long and exhausting battle with low prices before them,and the sooner they brace _ themselves and prepare for the ins evitable the better, The consensus d of expert opinion leans in this direction, and it would be foolish to - ignore it. Low prices will tend to enlarge the number of consumers, _ and to maintain ourselves we must cater for this larger consumption and increase the volume and variety of our productions, pressing into our '' services every favorable circumj 8 stance that will load to success, 5 Low prices do not necessarily mean is loss to the producer, especially if c time is an adjustment in the relative „ value of the forces which contribute 5 to the production; cheaper land and lower wages and rent will make a J great difference in the balancing.

Tut; police of this town have, in connection with their man hunt, been the laughing stock of the community for the past few days. There is, however, a serious side to the nifair,awl, on this, the lJev. A. C. Yorke strikes the key-note, in a letter published in another column. That the Masterton police are unequal to their responsibilities is a matter of notoriety, and that their head is a veteran who ought to he pensioned oif is generally admitted. However, Mr Hogg, M.H.R., who is omnipotent in police mutters has good natuvedly shielded the local stall' when it has been attacked both within and without the House. J3ut even the Member for Masterton must begin to sec that the interests of the community are suffering, and that his influence with the Government ought 110 longer to be strained to perpetuate inefficient police arrangements.

Lust year 42 centenarians died in the United Kingdom—l2 menand 30 women. Cotton has not been so cheap in Liverpool as it was recently for forty-sis years. The knife of the assassin in Italycloscs the career of 30 persons of every 10,000. Mr W. Bell publishes a special list of new winter goods, to be sold very cheap. The Woodville Frccziug Works are I putting through 250 sheep a day at present. ,

Mr W, H. Adams has commented business in Maugatainoka as cordial and reratcd water manufacturer.

A Welchman proposes to build a ship that mil have the speed of 60 miles an 1 hour.

• Mr J. Carpenter's annual stocktaking sale of boots and shoes, commences tomorrow.

Mr H. S, Izard has prcsontcd the Carterton Eille Club with a cup value £5 os.

Iu nine consecutive trans-Atlantic voyages last year, the 12,000 ton steamer Lucania has averaged a trifle over 25 miles an hour.

All Italian poet undertook the other day to write a poem in a lion's den, in the presence of four lions. He accomplished the job. The midday gun recently went off before its time at Capetown, due to a spider having entered the electric apparatus by which it is fired.

Mr F. H. Wood notifies the following entries for his next Taratahi stock sale, which takes place on tho 19th inst, 700 ewes, two to six tooth j SCO ewes (fresh full mouth); 220 shorn lambs, etc. Acceptances for the Masterton-Opaki Jot'koy Club's race meeting on March 14th, close to-morrow (Saturday) evening. Tho HovH. Simmonds, just selected by the Wcsleyan Conference at Nelson, for the position of Principal, of the Three. Kings' College at Auckland, is a brother to Mrs John Bagee of Mas- j tcrton. ' '

On tho occasion of the Makuri Caledonian Sports, which take place on Saturday 16th inst, Mr S. Harding will run a coach right through from Eketahuna; leaving there at fivo o'clock in the morning arid returning after tho conclusioji of fho:sports.., 800 sheep wcro sold in Woodville on Tuesday atls Gd a he&d, which two years ago would jiavp brought 10s to 12s, says the 'Mtammer.

Messrs E. Hannah and Co. draw at. tcntion to several new lines in boots aqd 6hoes, at low prices,

_ Messrs, Thomson, Lewis and Ob, Wei- / lington manufacturers of all kinds of , roratcd. waters, notify thattliey m the solo contractors to the Union S.S. Co. of N.Z. and the Wellington Hospital. (■ Their contracts were, not obtained "beeuused the prices tendered were the lowest, but solely on account of the quality of the waters. Carterton will lose a 'few of its old football players this year, says the Obsmer, they having uiven up the . game, but new ones are to fill up the 11 gaps. a The PictonPress says: "A party working the upper part of the old Golden Hope claim, Cullcnsville, last week secured a nest egg of 60oz of gold," The following team will represent the Carterton Club iu the match with tho \ North Wairarapa Club on Saturday. 1 firing to commence at 11. a.m.:-J, Bairstow, W. Bairstow, J. A. Dudson, 1!. Fairbrother, Jas. Oates, E. liutherfurd, I ! . Acid, Jas. lieid, AY. Itossitcr, A. Reynolds. Emergencies, A. King. A. Ayles. The Taimii from London, via Cape- ; lown, arrived at itobart, 7.30 yesterday j mominc, atul resumed her voyage to New Zealand, at 3 p.m. She is making Wellington her first port ofcall. She lias thirty passengers tor Australia, and eighty for New Zealand, The W.F.G.A. drapery department has now received its lirst supply of new , Autumn and Winter goods, aud some ! special lines arc advertised in auother 1 column. i i Prize money in connection with the Into show of ihe Mastertou Horlicultural Society, can now he obtained on ' application to Mr J. Carpenter, the 'treasurer. the Daily Telegraph's correspondent 1 lias obtained evidence that the Turkish 1 soldiers flayed Armenians alive, and , gouged out eyes of priests. , The following nominations havo been f received tor the Nelson Cup;—Awarua 3 liose, Kinglake, Musket, Dromedary, _ Cheque, Kent, Porcpo, Mademoiselle. 3 In connection with the Paliiatua l'rcs- .. bytcrian Church, services will lie held 3 by the liev W. H, Phillip on Sabbath s 10th March, as underPaliiatua at 11, Ngatuvi schoolroom at 2.30 •> Paliiatua at 8. L , The liev, Joseph Berry speaks very . favourably of (he special settlement system _ inaugurated by the South Australian Government. It is his ins tention to contribute a description of )' them to the Itecicir»/' Itci'iem, when :i time will permit. s The Marlborough Hi •jam says:— 2 Miliana, an old Maori woman living by c herself in a bay near Nsakuta, had a . narrow escape from dcaili on Feb. Hi. e She was asleep when her wliarc caught l lire, but fortunately her little dog, seej big her danger, went and bit her nose till he awakened her, a A sale of yearlings, including 30 n from St. Albans, took place at Melbourne yesterday. The St. Albans youngsters averaged !I3 guineas. The e following were the iop prices realisedl '■ Colt by .liiridspord from Spianingdale, ;- 300 guineas; colt by Eiridsnord from s Solitude, 200 guineas; a half-brother to „ Lochicl, 250 guineas. Messrs Simms and Mowlem make the following entries for their Mastertou f Stock Sale, for Wednesday,l3th March: I- 700 shorn lambs, 100 lambs, 100 HornS] ncy Marsh ewes, 10 2-tooth Lincoln 3i rams, bred by Perry Bros., 10 Lincoln >e rams and 10 Homncy rams. • e Messrs Lowes and lorns announce their next Mastertou Stock Sale for Wednesday. 20th March; entries for j .which appear in another coluinu. , e Messrs Lowes aud lorns add to their Ekotalmna sale list 112-tooth liomucy Marsh rams. is j. \\ e are requested to remind the publie of Messrs Lowes aud lorns sale of . privileges to-morrow, in connection with ' the Masterton-Opaki Jockey Club's s * Meeting on the 14th March, A respectable looking and extremely " penitent first-offending drunk, appeared before Mr I. E. Price, J,P., at Masterton this niorniug. His Worship gave l- the erring one a lecture on the folly of 5, keeping had company and looking upon n thewinewhonitisred, finally discharging if the culprit with the customary caution. , e The man profusely thanked' His Wor- , ship, and left the Court blowing to , escliow sack for (he remainder of his days. A meeting of St. Matthew's Vestry, will take place next Monday evening. Peter Hanson, labourer, of Pahiatuii, has filed a declaration of insolvency. " A Wellington detective came up yesi' terday to Mastertou lo render further '■ assistance in the hunt for tho alleged :1, desperado. ? s The Champion Stakes wcro won yesm terday by The Harvester, About the first man to interview 3- Prince Joseph of Battenberg at Weiy, lington, was an enterprising life in.n surancc agent.

On the Wellington section of the Railways, during the four weeks ending 2nd February the receipts amounted to £8328 OsStl, as against £8839 Os 7d for (lie corresponding four of last year; the uumbcr of passengers carried was 42,41-1, as against <l-2,318; the fares amounted to £3202 12s 2d as against £33116 Os 2d; the freight on goods showed a decrease from £5022 lis id to £■1590 10s 3d.

Professor Kirk reports concerning the potato diseases prevalent in the Woodvillc district and of the West Coast that the specimens sent to him show two varieties of a fungoid disease, The remedy for one is spraying the vines with a Bordeaux mixture, and for the oilier soaking the seed in a solution of corrosive sublimate before planting. A young lady at Midhurst says the; Oamm Mail was so frighted by a stray " drunk" looking casually in at her window that she promptly went into hysterics. Her two sisters, arriving on the scene, and unabloto learn the cause of hor distress, were " smittled " and promptly followed suit; two lady friends next arrived and with a proper sense of their responsibilities as yisitors thoy also joined in tlio general hysterics. At this stage the innocent cause of the disturbance, who had meanwhile been trying to wash his face in a flower bed and dry it oil a barbed wire fence, again looked in at the window for the purpose of combing his beard. The sight of five Imaidens in hysterics conveyed to his I muddled brain such an awful conviction of unparalleled jim-jams that, with a howl of terror, fie lied for the doctor, and signed the pledge at she earliest stage of sobriety condueivo to clear caligraphy.

Ono of the moat cruet and crucitying piitis mankind is afflicted with, i'b undoubtedly toothache, It will bo of interest to know that instant relief can be obtained by applying a little of Herb Extract, anil Infallible Cure for Toothache, which proves a permanent euro in nearly all cases wbere tbe teeth are hoUow, Everybody at all likely to get toothache should be provided with aisttle, which can be had for 1/- each (guaranw|tl not to injure the teeth or health) at the W.F.C.A,'« Fancy Goods Department, also the following: - German euro for corns, !/•; MorWn Insect powder and spreaders, 1/- each j Bncfc'a waterproof cement, 1/-; Bock's Fntz-paste, large tics, 1/-.-I', Bock & Co,, Manufacturing Ohcmists auil Importers.—Advt.

The announcement is made in another pirt of this paper that a sale of greater magnitude than eyer yet attempted by Te Aro Houso is now being held, and Bhonld arrest the at tcntion, of overyone in this part of tho Colony. Te Aro House has long held the premier position as the leading Family Drapery Warehouse in the city, and further developments are now taking place to inaugurate the new year of 1895. Early in tho year Mr Smith admits to a partnership in bis business, a commercial gentleman who has long been associated with the London buying for Te Aro' House, To thoroughly reduce and prepare tho stock' previous to the partnership stocktaking, sweeping reductions'will be made in all departments. The stock mußt be reduced by £15,000, and will be offered to tbe purchasing publio at most tempting prices, !: Heads of families, storekeepers, settlers, careful housewives, young and old j rich and poor, alike will save heaps of mouey by reserving their purchases for this great partI nershipsalo, which commences on Friday, 'lth January, 1995,' at Te Aro House.