OUR SYDNEY LETTER.

Gisborne Standard and Cook County Gazette, Volume III, Issue 395, 24 December 1889, Page 3

OUR SYDNEY LETTER.

(non OUB OWN COBBXSPONDXNT.)

Sydney, Dec. 4. A vxtY important step in advance has been achieved in the Federation movement. Sir Henry Parkes has consented to meet the members of the Federal Council in consultation, and baa fairly and frankly abandoned the attitude which in a previous letter I d- scribed as anti federal. It there ia any real vitality in the movement the Federal Council will now become what its originators no dout t hoped it would, the stepping stone to a solid and more enduring union. The course of events will be watched with much interest. Is a nation really going to be born, or is the movement merely a spasm begotten of the argot of personal and party exigency ’ Dr Jefferis last night said some noble words about great crises in the history of naione. Here is a sample. ■* The Baler of Nations makes his appeal to us at fitting times to initiate some great movement, to do some great work. If there is adequate response, it the people obey the call, seize ths opportunity, accomplish the work, it is well for them and ths generations after them. But if they are indolent, or heedless, or rebellious, the opportunity passes, perhaps never to return.” These words are true; the only question is as to whether it is a fitting time, and that can only be shown by the event. As far as human judgment can decide, the time seemed much mote fitting a few years ago when the question was thoroughly discussed, and four out of the five colonies agreed on a common basis of action. They obeyed the call, aeized the opportunity, accomplished so much of the work as was then possible. This colony it was, according to the view which we get from Dr Jefferis* words, which either from heedlessness or indolence or rebelliousness, neglected to add her quota of strength to the movement. And now we are beginning to join it. It is rather in an insolent and dicta tonal spirit than in one befitting the occasion. However, as the important concession to which I have alluded has been made, I do not wish to dwell on thia aspect of the question. One thing however is certain. Federation,

it it is to be luting and satiafactory, mast be the result of prolonged negotiation, of trank recognition of difficulties, and of just and concession! by all parties in order arrive at a common understanding. The lait requisite ie the most important, and it ia the one which at present seems most conspicuously absent. Already the Protectionists are bailing Sir Henry’s Federation utterances as a triumph for their fiscal principles. The Free Traders on the other band declare that they will be able to impose a Free Trade policy on the whole of the Federation. But it is when the matter is looked at in the light of the praotical politics of New South Wales, that it appears most difficult to believe that this ia one of the *■ fitting times ” to which Dr Jefferis alluded—times which come in providential order, as spring follows winter or the fruit follows the blossom, A tew short weeks ago there was no sign of any blossom, Now wo are urged to gather the fruit. Can it be wondered at it we are a little sceptical and regard the whole thing as spasmodic rather than an orderly and legitimate growth of public opinion ? The Government holds office in an equally divided House by a majority of two or three at the outside. They were moreover pledged not

merely to maintain the present tariff but at the first opportunity to purge it of those imposts which have a Protective effect. It they were to attempt this logical application of their principles they would be defeated, for certain, because many Freetraders would refuse to assist in disorganising or crushing existing industries. The opportunity has now arrived, Mr MacMillan is to make bis budget speech to-night, but it will contain no annonnoement of any determination to carry out his pledges, for Mr MacMillan ia now an ardent Federationist, and shares, it may bv resumed, the lately expressed convictions of his chief, that Federation must come before the determination of a fiscal policy. So it comes to pees that by substituting Federation tor Freetrade, the Premier has secured a cry which has attracted support from the ranks of his opponents-Mr Edmund Barton and Mr J. P. Abbott, for instance. From his

point of view this is doubtlessly much more ■atisfactory than the fulfilment of a promise vhich would alienate his own supporters. Ho turned out Mr Dibbs and bis colleagues secause they did not at once give effect to their fiscal policy. The same doctrine applied to himself would eventuate in his own rejection. No doubt from the point of view of the political tactician it was a very *• fitting time" to resolve upon a change of front. But thia, I apprehend, does not necessarily constitute it a “fitting time" such as Dr Jefferis was speaking of. It would be better on all hands if the fiscal question could bo left in abeyance during the present short session, and if Parliament would devote its attention to the estimates with a view ol scouring such economy as may be practical, and at the same time, of making orderly provision for the necessities of the coming year before the money is actually expended. But, considering the summary manner in which Mr Dibbs and his colleagues of the present Opposition were expelled from office on the fiscal question, it is perhaps rather too much to expect from average human nature, that they should allow the same question to remain in abeyance for another twelve months, in order, as it nn doubt seems to them, that their opponents may enjoy the uninterrupted sweets of office. At all events Mr Dibbs has notified his fol lowers that he intends to move an amendment on the Treasurer's speech and propositions, Though the precise form eannot be foretold before the letter are definitely known, it will of course be in the interests of Protection as against Freetrade.

T. A. W. Thomas, thedefaulting teller ol the Sydney branch of the Bank of New Zealand, who was charged with embezzling over £lB,OOO of the bank's money has been dealt with by a stipendiary magistrate, and sentenced to six months' imprisonment only. The charge of embezzlement was withdrawn, and Thomas was charged with falsifying th« records of the Bank, to which he pleaded guilty, and asked to be summarily dealt with. Tbs solicitor for the prosecution made no objeotion and stated, further, that Thomas had shown groat contrition, and had moreover made inch efforts as were in his power tc repay the money which be had taken. But after allowing the fullest weight to these facts it appears evident that an exceedingly gravi offence has either been dealt with far toe

lightly, or else that our whole criminal system has been framed under a delusion. The same paper which contains the intelligence of Thomas's sentence states that an exactly similar punishment was awarded to a petty thief who had stolen a few shillings from a sleeper in the Park. Had the latter man pobbed.a Bank, ho might fairly have expected A sentence of ten years at the very least. The matter has already been the subject of strong Comments in the Press, and more will doubtlam be heard of it. The silver boom ia assuming immense proportions. The pries of shares has been run up by sanguine speculators until the nominal capital renresenti a sum equal to some £33.600,000. To make a fair return for the capital invested they should be absolutely certain of paying for six or seven yean about £5,000.000 a year in dividends. This would probably necessitate the production of double khat quantity of silver, or say 60,000,000 ouncm. But the total silver production of the whole world, including Australia, California, Nevada, and every other argentifernas locality is only from thirty to forty million fiances. The above estimate of £33,6000,000 takes no account of the scores of other Australian mines which are also silver, producing,! and to expect' from them an output of silver exceeding that of the whole world seems rather too sanguine. The gross production of Broken Hill for the last twelve months has been astonishingly large,—probably nine or ten e"'-i ounces. In the next twelve months it wi.l probably famase considerably. But, wonderful as ate the resources of the field, it will be many years before the returns from the mines which now stand at such high figures will justify even a fraction of the prices now paid, and in the meantime many fluctuations may be reckoned upon,