The Evening Star MONDAY, SEPTEMBER 5, 1887.

Evening Star, Issue 7308, 5 September 1887, Page 2

The Evening Star MONDAY, SEPTEMBER 5, 1887.

Sir William Fox, in reference to the Colonial Treasurer, for whose advent to power he is primarily responsible, holds somewhat imaginative views, and we were almost inclined to think, from some recent utterances, that the venerable statesmen had gone off his head. The letter, however, recently published in the ‘ Rangitikei Advocate ’ proves that the judgment of Sir William, when unaffected by prejudice, is as sound as ever, and that he is able to wield, os of yore, a power of trenchant argument against which the flimsy sophistries of the new school of political economists make but a poor show. Assuming to discuss the political crisis, Sir William, inter alia, takes Ministers at their word, accepts for the nonce the issue they would have the elections decided upon, and proves to demonstration how important to every interest of the people it is that on this issue they should be beaten. Sir Julius Vogel, whose native ingenuity is the most conspicuous quality of his genius, being well convinced that to go to the country on the policy submitted to the late Parliament was to court defeat, availed himself of the opportunity of long-continued depression to raise the cry of Protection. As a man of the world of some practical sagacity, he knows that when times are bad with a community, as with an individual, what some might call|heroic —others, more correctly empirical—remedies are apt to be grasped at. Existing ills are realised, and the tendency is to rush into others about which little is known. There have been lately in a neighboring Colony disclosures as to quack doctors, their practices, and the enormous profits realised. The physically afflicted, or rather that large proportion of them who have not very sound sense, are taken with the confident assertions of the quacks that their specifics will rapidly and effectually cure all diseases. They pay their money, accept the treatment of ignorant charlatans ; with the result that many die, others are hopelessly injured in health, whilst a few get well from the force of constitutions exceptionally strong. The Protectionist is the economic quack. He would deal with the body politic as the Sydney impostors do with their dupes, and the analogy would be perfect in the result. Depression unfortunately exists; but it is utter folly to suppose that it can be removed or alleviated by such nostrums as the Protectionists prescribe. That there should be a disposition under the circumstances to fly to these is not, however, surprising; and Sir Julius, in seeking to take this tide of public opinion at flood, was so far wise in his generation. The question for the people to consider may be almost stated in a nutshell, and Sir William Fox has concentrated his argument very much to this dimension. The depression in New Zealand is directly, he implies, to be attributed to the low prices obtained for our staple products, wool, grain, and frozen meat, which have not for some time realised a fair remunerative profit on the cost of production. There has been therefore proportionately less money coming in, and this diminution has practically affected every class, interest, and industry. How, asks Sir William, can Protection in any degree affect this ? Such a remedy in no respect touches the diagnosis. Common sense suggests that whilst reasonable hopes may be entertained as to the gradual strengthening of the market, we should apply ourselves to the extension of the field and the reduction of the cost of production. Frugality must be the rule in public and private affairs, and the earnest endeavor must be to make the most in every way of the resources of a country exceptionally favored by nature. Whilst Protection can be no possible use in bringing about better times, Sir William points out how mischievous the application must be, and how certain to make things very much worse for the community at large. He very aptly describes the policy as “cut-throat.” The advantages, such os they may be, obtained by the protected trad e or Industries must of necessity be at the expense of those remain-

ing unprotected. “Give Us protection all round!” is the cry of Certain local wiseacres. Sir William properly describes this to mean “that for one man to cut another’s throat “is a bad thing; but to let every man cut “ his neighbor’s throat, and his neighbor cut “his in return, will greatly improve thti “ longevity and health of the cOrttthvmity. “ And it does so happen that in this matter of “ Protection, if yoU protect one trade you “ must protect another, and in nine cases out “ of ten the protector will destroy one of the " two. Rely on it, that what has happened “ elsewhere will happen here if Protection “is imposed on us. Some trades will get “ the benefit of it; the others, whose ad- “ vantage lies in the opposite direction, will “ insist on having Protection also, and so, “ with more or less rapidity, we shall see “ them cutting throats all round to the “mutual benefit of society at large.” Sir William’s letter is well worthy very careful consideration, and his illustrations are excellently to the point. It is quite clear, for instance, that if the shoemaker is to be protected to the point of prohibition, the stockraiser and the currier have the right to demand protection against imported leather, and so the game would go on through every branch of trade and industry ; the infallible results being exorbitant prices, bad articles, over-production, prices maintained, but workmen on half or quarter-time, general impoverishment—a state of things far worse than has ever yet prevailed.