WOMEN'S POLITICAL LEAGUE.

Auckland Star, Volume XXV, Issue 248, 17 October 1894, Page 5

WOMEN'S POLITICAL LEAGUE.

A meeting of the Women's Political League was hold yesterday afternoon ab the V.M.C.A. Rooms. MrsDaldy presided. Mr George Fowlds gave an" address on "Colonial Finance." He said he would not attempt the impossible by analysing and microscopically examining the Colonial Budget, bub content himself by pointing out a broad principle which should underlie all sound finance. He referred to the howl of Conservative associations and newspapers over the policy of the Government "driving capital out of the country," and the still louder howl aboub the Government bringing in capital by their " borrowing proposal?." He said that if the Government had driven oub three millions of capital bearing interest at 5 per cent., and were able to introduce a similar amount at 3i per cent., then clearly the State would be a gainer to the extent of 1£ per cent, on that amount. But, he aeked, was this inflow of foreign capital a good thine for tba country ? It depended on what became of the capital when ib entered tfao country. If it went to increase land j values then it was a curse and not a blessing. Every shilling which went into increased land values hindered production, and in support of this he quoted largely from the statistics of Victoria and New Zealand, showing that in evory case the inflow of capital and increase of land values was accompanied by a decrease in production as measured by the exports ; while the reverse also held true, and that to proceed further and entirely kill land values would still farther increase production and increase the comfort and happiness of the people. A discussion followed, and at the close Mr Fowlds was accorded a hearty vote of thanks for his address.

Some discussion took place relative to the Shop Hours' Bill, but bo reseluhion was proposed.