THE New Zealand Herald. AND DAILY SOUTHERN CROSS. THURSDAY, NOVEMBER 4, 1880.

New Zealand Herald, Volume XVIII, Issue 5918, 4 November 1880, Page 4

THE New Zealand Herald. AND DAILY SOUTHERN CROSS. THURSDAY, NOVEMBER 4, 1880.

The papers, reporting a recent speech by Mr. Saunders, a member of the House of Representatives, made him allude to the possibility of the colony having to repudiate its public debt, and censured him in no measured terms for so objectionablo and dangerous an expression of opinion. It seemed incredible that he could have said anything so unnecessary and absurd. Hβ now denies the accuracy of the report, and it is not improbable that a condensation of his remarks may have given them a complexion which they would not have borne in a fuller report. No censure of such an utterance could be too severe, but he is entitled to the benefit of the doubt, especially as no one who heard him has confirmed the allegation made against him. Even an allusion to repudiation is an awkward matter, and an appreciation of this fact may have induced the remark made by the Treasurer at the opening of the extension of the Wellington railway to Masterton. He said, "If the present policy, however, were carried out, the colony would easily meet all its engagements." Mr. Rolleston, who followed him, said "he was very hopeful of the future of the colony." We are not surprised that some of our contemporaries

should have taken Mr. Saunders to task, and even if it be a fact that they were under a misapprehension as to his remarks, their comments will be productive of a great deal of good. The craven spirit which has been displayed by some persons with regard to the financial affairs of the colony and its general condition are thoroughly sickening, are inconsistent with facts within the grasp of anyone who will be at the trouble to investigate and understand them, and has become such a nuisance that he should be regarded a? a public enemy who, for want of a backbone or a sufferer from dyspepsia, disturbs the public serenity -with his dismal vaticinations. The thing is a farce, and something more, for it is quite enough to have the English papers and their correspondents traducing the colony without the addition of persons within our borders incessantly crying " stinking fish." Those are dirty birds which foul their own nests, and the New Zealand birds who have this loathsome fault should betake themselves to some other habitat, and leave the colony to others who have more courage and mere sense. Consistency requires that these gentlemen of the woeful utterances should betake themselves thither where they may possess their souls in peace, but it is a remarkable circumstance that they display no other proof of their distrust than their ceaseless lamentations. The truth is that they desire to possess credit for a superlative sagacity, to be subjects of wonderment, as seeing so much further than their fellows. They pose as prophets, but not only will they have no honour in their own country, but unless they become either cheerful or silent they will be likely to attain to something very different. People who are alwpys pouring into your ear their anguish about public affairs are as great bores a3 your valetudinarian who infects the air with his imaginary ills. Major Atkinson could, perhaps, have done no less than say that " the colony could easily meet all its engagements," and yet it is almost a public affront for such a remark to be deemed necessary. Because forsooth there has been excessive borrowing, astounding mal-administration, and , disgraceful neglect of its duties by Parliament, the future i 3 to be deemed in jeopardy, and at a time when prudence has taken the place of rashness and economy of extravagance. It is time that there was au end of this puling spirit, so unworthy in itself, so fraught with mischief. Borrowing has come to an end for a time, and so whilst the interest on loam will remain stationary in amount the wealth of the colony will go on increasing, the development of its resources progress, and the burden sit more i lightly on the public shoulders. At the same time expenditure has been largely ' reduced, and the process i 3 being continued with importaut results. Every--1 thing will be ship-shape directly, and the finances rendered absolutely sound, which ; they have not been for many a yeir. The pessimists had better put away their wet blanket, or apply it hydropathically for the recovery of their own health ; their - nerves want bracing.