The Hastings Standard Published Daily. MONDAY, AUGUST 31, 1896. THE LOAN BILL.

Hastings Standard, Issue 108, 31 August 1896, Page 2

The Hastings Standard Published Daily.

MONDAY, AUGUST 31, 1896. THE LOAN BILL.

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.

Notwithstanding all the remarks made against the Aid to Public Works and Land Settlement Bill, the majority of those who spoke against the measure are apparently well pleased that it passed through Committee unscathed. Although a determined move was made to stop it at every point, it came through the ordeal with flying colors. Many of the amendments moved were in the direction of endeavoring to take a slice out of the million, and the action of certain Canterbury members might have been different had that province been promised a larger share of the amount proposed to be raised. The title caused one or two jokists to suggest that it might be named " The Seddon Government Departure from Self-reliant Policy Act," " The Premier's Abuse of his Independent Following Act," or " The Rough on Eats Act" ; but whatever objection was raised to the title it mattered little, so long as authority was gives the Colonial Treasurer to raise the sum asked for. Now that authority has been given, there should be little difficulty in raising the amount at 8 per cent, either on the Home market or in the colonies. The works on which the money will be spent have been enumerated, and perhaps little fault em be found with any of the

proposals; but there is one vote that might be abused, and it behoves those in charge to see that it is fairly dealt with. We refer to the Goldfields grant. It is a vote that is liable to be misspent, and it is a vote that judiciously expended may prove of almost inestimable value to the colony. With the rush of foreign capital to our shores seeking investment in goldtariping ventures, the Government Should do everything in its power to. ; ,pring the industry more prominently before the eyes of investors. Seven years ago Johannesburg was but a small mining centre; now it holds millions of British and foreign capital. Experts have stated that New Zealand holds out even better prospects than South Africa; and if the vote to the goldfields is expended without political favor and to the best advantage there is no saying what benefit the colony may derive. The expenditure on lands must have the support of all interested in the welfare of the colony; the railways must be completed to a paying point; and the other items mentioned in the schedule which, if they are not rather "previous," may be in keeping with the policy of progress, and will certainly relieve for a time the stagnation in the labor market. In looking to posterity to repay the loan, we have hopes that in a few years New Zealand will be in a position to look back with pleasure on the fact that the 1896 " borrowing scheme " was at any rate a payable investment.