The Manawatu Standard (PUBLISHED DAILY.) Suivant a vetite. SATURDAY, JANUARY 6, 1883. OUR NEW LOAN.

Manawatu Standard, Volume 3, Issue 35, 6 January 1883, Page 2

The Manawatu Standard (PUBLISHED DAILY.) Suivant a vetite. SATURDAY, JANUARY 6, 1883. OUR NEW LOAN.

Much will depend, as affecting the future of New Zealand, on the successful floating of the new Loan. A Victorian Loan of four millions is also now seeking investors! on the London Money Market, which is to be offered on the 9th inßtant at par, and that of this colony two days afterwards at 98£. By the end of next week, or the beginning of the following, we should be m posse, sion of information with regard to the success or otherwise that will have attended the operations ot tho Loan Agents m London. Jn some quarters it is Burmised that il the Victorian Loan fail m being subscribed for, the New Zealand Loan will stand a poor chanca. We do not look at the matter m this light. We believe that New Zealand is iv greater favour, not> withstanding its present indebtedness with Home capitalists, than Victoria. Of course, we are well aware that such newspapers as Truth have done their very utmost to damage New Zealand m the London Money Market. The London Times has also been recommending the cole it ies, m a grandmotherly sort of way <jto devote their surplus revenue to the prosecution of public works instead of raising loans for that purpose ; at the same time advising that liberal assistance should be extended to persons desiring to emigrate. Just so 1 How generous and disinterested to be sure I The colonies are not to borrow further of English capital, but are to find homes and offer inducements to the surplus needy population of the Home country. There are times iv the history of every country, industry, and enterprise when the use of borrowed money is absolutely indispensable, without which disaster must ensue. Many a giant enterprise, and vast industry have been fostered on borrowed capital, until the initiatory stages had been safely passed and Buccesa assured. Just so with the colonies, and this colony m particular. Compare our assets with our liabilities, and our financial soundness and solvency become at once apparent. Our security is undoubted, and our integrity unimpeachable. .Repudiation, is never hinted at, and no holders of our de bentures question their value as negotiable securities. Money must be faith* coming to develop our resources to connect our sections of railways, to open up our waste lands, and ta ■ place ,the country m a. position of ooda 'fide, enduring, and substantial prosperi y. But even if the woret were to happen and the Loan, were to be a failure, New Zealand would not ' utterly collapse. We might ieel the undue pressure for a brief period ; bat; endowed as we are with the grandest country m the Southern Hemisphere, the most fertile spil, the. most sal us brious climate, and untold mineral | wealth, failing theJoau, (a contingency we considor'^yceedingly remote) thig coWymast inevitably advance and before long English capital will flow hitherward more freely tbaa ever.