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Lyttelton Times, Volume LXIII, Issue 7563, 30 May 1885, Page 4

Whilst some of us are feeling wretched at the cost of the defensive operations to which the Colony has just been subjected, the success of the million and a half loan comes upon us with reassuring effect. Our finances after all have not been hopelessly disorganised by the war scare. We are in the proud position of seeing the loan at a premium before the day of allotment. The success of Yictorian and Queensland loans — which realised a few shillings above tbeir respective minimums of 99 and 97 —had prepared us for this. But all the preparation in the world never diminishes the satisfaction of a good result. The war cloud has not disorganised our finances. We can borrow with ease for our necessities, and we shall be able to borrow anything we want for paying the premium of insurance against war losses which has just been exacted from the prudence of the Government by the patriotism of the people. And this is not the whole of the p'rospect. When the loan has gone off so well, we may expect to hear something definite, as well as encouraging, about the West Coast Railway. The dam of foreign complications having disappeared, the heaped up stream of capital is rushing towards investment. The high level of the fertilising waters is marked by the price of Consols, which have just returned to par, and their depth is registered in the rate of discount, which is lower now than it has been for months. If a portion of the mighty stream does not find its way to the carefully and substantially prepared channel in the West Coast railway district, it will be curious!