FOREIGN CAPITAL.

Waikato Times, Volume XXX, Issue 2461, 19 April 1888, Page 2

FOREIGN CAPITAL.

» TO THE KDITO'.t. Sin, —When Sir G. Grey was advocating the making of the English bondholders pay property-tax on their interest, it was said by others, and very justly, that it would keep outside capital from coining hero. Now Sir George, to attain his wish, said in a speech, which he delivered, that we did not need foreign capital, and that we were much better without it, and one of his devnted followers (the late Mr Macand rew) told us all we wanted was a printing press and a bale of paper, and then there would be pound notes in galore. Now, I would like to ask Sir George if he would have signed a transfer of the Kawau if the purchase money was to have been paid in Mr Macandrew's notes, nay more if Sir George had attained his repudiation, for, gloss it over as you like, it was nothing else but repudiation, if his dishonesty had been successful, he would still havo been the owner of the Kawau and he would have been the victim of his own devilment. If Sir George Grey, Montegomery, Stout and Ballance had had their way'in confiscation of tussock land and in all their other ways of destroying the. laws of nieuin and temn, would this Victorian capitalist have been such an ass as to invest his money here ; nay, more, would he have condescended to have lived amongst us. There may be rogues in Victoria, but he never would have come to a country where ' roguery was made and instituted by law. If Grey, Montgomery, Ballance, Stout, and all the other political fools and rogues had had their wish would Mr Wilson have invested in Tβ Aroha, or would the English syndicates have invested in the Thames? I tell you that if these men had succeeded we would soon have been in such a state of poverty that anarchy, confusion, disorder, murder and rapine would now, or very soon have been, our lot. It would havo been every man for himself, and sure enough the devil would have had us all; effect follows causes, and sure enough we would have been demons. Thank God these men's hands were stayed and already are .ve beginning to reap the rewards of turning from folly to wisdom. Outsiders are beginning to see that there is natural wealth in our country, and also what is of greater consequence that the majority of us are not corrtiscators. Mr Editor, to the thoughtless and unthinking this breaking faith with the bondholders, this spoiling of the Egyptians may have appeared no great harm ; to them it only appeared as taking two or three thousands from the Barings and Rothchilds, but there are always two sides to a question, at least out of New Zealand there is, but I tell these Liberals of New Zealand that there are thousand.-', of widows and orphans who have given us there little all, in fact all that they have possessed, upon the strength that we were a high-min-ie), honourable people. Are these people to suffer by our wild, mad extravagance? We as a people don't want to be sharpers, it is only our politicians who have wished it to be so, they wanted the spending of this money so that by bribery they could remain in power and feather their own ne*t. Mr Editor, hold a post mortem examination upon the thoughts of a New Zealand Liberal and what do you find. You find that hi? liberality consists in being liberal with other people's money—this is degradation to also make' the mistake of thinking their paltry little cunning is wisdom, cunning is the wisdom of small minds, it is the nature of a groit mind to abhor cunning, All cunning mrni are shams, and all shams are full of paltry low cunning ; these truths are of as much importance, and perhaps morn so than tho multiplication table. The whole of New Zealand has b';on brought to the verge of destruction by the power that sham had in misleading the people, our youth ought to be taught how to detect the truth from the talse.—Yours very truly, Hakai'lH.