THE COLONY'S CREDIT.

Northern Advocate, 8 October 1887, Page 2

THE COLONY'S CREDIT.

Whatever may be the ultimate effect of the breaking up of the late Government, it is satisfactory to learn that, immediately on intelligence reaching England, a very material change took place in New Zealand stock. We find that on Saturday last there was an advance of £ per cent., on Monday a further advance of % per cent, occurred, with an improved tone sufficient to justify the expectation that yet another rise of 1_- per cent, will take place immediately. Notwithstanding the much vaunted ability of Sir Julius i Yogel as a financier, and however much his worshippers this side of the globe may delude themselves into the 1 belief that through their political idol i relief is to come to the colony, it ie ■ very significant of the estimation in which he is held in London, when it is considered that, not only is there a 1 rise in New Zealand securities the < moment the results of the elections are flashed along the wires, but also, 1 that on Vogel's taking office a few yeaxs since there was a serious fall, i and that the ill-repute into which the colony fell has never until now shown > the slightest sign of being dispelled. . With restored credit at home and a • vigorous course of rigid economy in ; administration, we are justified in i looking fori-ift-^"^"77 T B' rr " : "^ i"*^*** J teaTO?^'x----^ooi-_-oTence will set free money long locked up, and speculators will aare to operate.