"ONE FOR THE PESSIMISTS."

Dominion, Volume 1, Issue 252, 17 July 1908, Page 6

"ONE FOR THE PESSIMISTS."

At first sight the Prime Minister's exclamation, " That's one for the pessimists," when he laid'upon the table a 1 cable message reporting an advance of' a farthing to a halfpenny on wool, would jippcar to be a confirmation of our rc-cently-expressed fear "that Sir Joseph is losing his sense of humour. Oortainly it was a ridiculous thing to have printed as a Parliamentary paper a news item of a very common character, even though wo might all bo very pleased at the good news it embodied. But the incident has its serious aspects. It is obvious; that in spite,of all his bravo, words for the past nine months the Premier is a 'little shaken. A. firmly-Set and well-balanced serenity would not have rushed excitedly forward to obtain a documentary immortality for the fact—a satisfactory fact, certainly, but hardly a momentous one— that wool is up a halfpenny. Even the late Mr. Seddon, who had all kinds of ridiculous things printed as Parliamentary .papers, would hardly have treated the telegram aB a State document of such note as to warrant its inclusion in the records of Parliament. -What, we wonder, will, be made of this papers by the man who discovers it as he turns over the musty files twenty years hence J What theories may not bo constructed to account for it! In gleefully saying that, the telegram was "one for tho pessimists," the PuniE Minister no doubt.desirod to oreate the impression that "the pessimists " 1 who disagree with' his extravagant'optimism are dealt a deadly blow, and are plunged into gloom at the rise in wool. Possibly after thinking over the matter the Prime/Minister now realises that he has said a vory paltry thing for a very small; purpose. The wholo country will bo thoroughly well pleased wiih the news, but a halfpcnny v riso in wool is hardly sufficient to render " the pessimists" content with tho policy of borrow, waste, boom, and plunge. We shall be thankful if this welcome halfpenny does not commend itself to the Prime , Minister as warrant for a fresh burst of extravagance that, will wipe out tbe little coin and a good deal more.