The Hastings Standard Published Daily.
THURSDAY, MAY 23, 1896. THE CREDIT OF THE COLONY.
For the cause that lacks assistance, For the wrongs that need resistance, For the future in the distance, And the good that we can do.
The Premier, in his speech at the Princess Theatre last Friday evening, referred to the price of New Zealand stocks on the London market, and claimed that it was due to the administration of tho Government of which he is the head. That our stocks have advanced in price cannot be denied, but that tho advance is directly due to any act of tho Government of the country we do not believe. The improvement is the result of the plethora of money now a feature of the London money market. If it were not so, but solely caused by the administration of the Government, then it is singular that the stocks of the whole ot the colonies of Australasia should have made such progressive strides. We can best illustrate the tone of the London market by giving quotations of some of the leading
securities for a period of years. Thus the highest quotations i* 1886, 1891, and 1895 are as under :
New Zealand stocks have made no more progress than the stocks of the other colonies. The advance has not been brought about by Government interference, and while Mr Seddon was, perhaps, justified in makingpolitical capital of the fact of the advance, we cannot blamo previous Governments for the low price ruling in past years. It is a matter for congratulation however, that the London investor has thought fit to include New Zealand stocks amongst the class of gilt edged securities, and well may ho do so, for although often times pressed the colony has honorably met all its engagements, and will no doubt continue to do so whatever set- of men may be engaged temporarily in administering the Government-.
1886. 1891. 1895. Imperial Consols 102 971 108* India 8-1-% 102f 110 118v Canada 4% 107 108f 112 New South Wales 4% 107 107 119} New Zealand ... 103} 107i 1134South Australia 4% 10.H 109| 113-} Victorian 4% 107 J 109i 108J French 8% 834 95^ 103 Bankof England Stock 299i 343 336
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Bibliographic details
Hastings Standard, Issue 27, 28 May 1896, Page 2
Word Count
371The Hastings Standard Published Daily. THURSDAY, MAY 23, 1896. THE CREDIT OF THE COLONY. Hastings Standard, Issue 27, 28 May 1896, Page 2
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