A CORRECTION.

New Zealand Herald, Volume XII, Issue 4124, 1 February 1875, Page 5 (Supplement)

A CORRECTION.

To the Editor of the Herald. Slit, —I'ermit me to amend an error of the press in my last letter to yourself. It would not be worth notice, but that it makes me say an absurdity. It is iu this passage :— "1 do not find an implied distinction between credit, wiiieh I understand to arise from confidence in the good faith and good prospects of the borrower ; and the having to give security, a result of the mtnt of such confidence. We, who borrow on security, cannot be said to obtain credit, for credit implies trust." For "we," read "those." The very question is, how 1 jng will our present credit endure. 1 must not complain of the amendment, seeing that Shakespeare, quoted by me in the same letter, has suffered more than 1 have myself; owing to reluctance, not unnatural, on the part of the conq • i-itor or of the reader, to accept the word " yea-forsooth" as an adjective, or attribute. Ou reading again the leader in the Herald which called forth my letter, I find an observation which I ought to have noticed ; but overlooked. You speak of the "degradation" to the colony which would ensue, from having to find security for loans. Ido not contest your opinion ; but ask leave to observe that if such be degradation, that degradation has been already incurred. We liad to giro security, in exchange for a home government guarantee, oil the occasion of borrowing our lirst half-million. See l'arlia- j liieutary proceedings, 1856 and ISSS. —I ;un ; I &e., I Huiiii Cakleto.w j Salona, Bay of Islands, ■ January' 27, IS7">. j