Untitled

New Zealand Herald, Volume XXXI, Issue 9432, 12 February 1894, Page 4

The financial position of India, according to a cablegram published in Saturday's Herald, is such as to cause a very widespread feeling of anxiety. The trouble has not suddenly sprung to the front, but has been felt for some time past, and measure's have been adopted with the object of averting a catastrophe. In December last a Bill Was passed through all' its stages in the British Parliament authorising the Indian Government to borrow to the extent of not more than £10,000,000. The. closing of the mints as an expedient for arresting the depreciation in the value of the fiipee was' attended by inevitable disturbances of trade and by a serious effect on the sale of Indian Bills. As Mr. George Russell explained to the House bfCofiiipdris' " the Indian Government had to make large annual payments in s England, antr it was necessary that these payments should be made in gold. In order to obtain that gold they had "to sell their Bills, which were in fact cheqUes payable in India in rupees. Soon after closing the mints it was fouiid that the sales' between June and December last year were equivalent to a loss in gold, as compared with the sales of the five previous' I years Of |6j400,000. By ■ next April they would have to make payments to the extent of l £8,000,000, arm therefore it became necessary to apply to Parliament for an extension of their borrowing powers. If the Indian Government had good sales of their bills during the months from December to Api-il, they would probably not have occasion to exercise these borrowing powers at all." The desired improvement, as frequent'cable messages have shown, has not, however, been realised. These financial complications connected with the rise and fall of the price of silver are extremely difficult for non-expert minds' to comprehend ; but when all technicalities ire cleared away, the situation really amounts to this : The Indian Government has at its disposal a very large amount of silver money, and has to pay heavy gold debts. If it uses the silver to discharge these debts in the actual conditions of the moment, it cannot but sustain a most serious" and embarrassing loss. . " But," as the Times has pointed out, "if it can borrow £10,000,000 on the London market, it escapes that loss for the present by payment of a relatively small charge for interest. It can make its payments here Without loss on exchange, and then it holds its depreciated silver for realisation in more favourable circumstances. It hopes that the "circumstances will become distinctly more favourable than at present. If that hope is realised, then the present transaction will be generally admitted to have been wisely and fortunately conceived. In the contrary event, the difficulties that""now beset the Indian Government will have to be faced, if not in an aggravated, at all , events in an accumulated form." The experiment is indeed» critical one,and such eminent authorities as Sir John Gorst arid Mr. Goschen have expressed themselves as by no means satisfied as to its wisdom. They have pointed out that for the first time in the financial history of India the Government was going to speculate oh a rise in the value of silver, arid that a policy of that kind ought not to be pursued without grave deliberation. In the words of Mr. Goschen "the Government had embarked in a gigantic speculation." Some people, in the face of these facts, have gone so far as to speak of the impending bankruptcy of India, but in the light of past hi3tory such statements can hardly be justified. Taking the period between 1874-5 and 1891-2, during which the. decline in silver had decidedly developed, the result is 11 years of surplus, with an aggregate surplus of 170 million rupees, and seven years of deficit with an aggregate of 170 million rupees also. During that period the rupee for Council bill purposes fell from about 2s to Is 4|d. Excluding the two years of the great famine, 1876-8, when 74 million rupees were devoted to famine expenditure, the to<al surplus since 1874-5 would be 170 million, and the total deficit 100 million rupees; and within that'period the Government of India successfully met a fall in the rupee greater than that which is at present feared. In a paper on the ? Financial: Position of India," Mr. A K. Oonneil, M.A., at a recent meeting of the East India Association, stated that "if the finances of the Indian :. Government - were npt to be landed in irretrievable confusion one of two alternatives must be faced— external expansion or internal development must be suspended. The actual increase in annual expenditure com-1 pared with nine years ago was 7,416,000 tens of rupees—an increase mainly due to the frontier policy and partly ascribable to the unjust exactions of the British Treasury and War Office for home charges. This increased military outlay more than absorbed, by 12 mil- 1 lion rupees, the increased receipts from laud, salt, and provincial rates." He stated that this reckless* expenditure must be stopped. In the discussion which ensued, however, Mr. - Gotterell Tupp, late' Accountant-General of Bombay, and others, disputed many of the conclusions of Mr. Connell, and some of his statements appear to be somewhat exaggerated, None of the colonies of Australasia have escaped financial difficulties ■ and embarrassments, and the development of the present crisis in India will certainly be watched with an intense and sympathetic interest in this quarter of the globe. '

The Otago Daily Times discu 1 , ' Aldla case on.the point raised & 1 whether - the \U\ffl of Professor *£.*• agreement, being With the Govern* * and 4 not with the College not prevent the latter body f ? missing him. A case of a SOm(lu ,r 3 " similar nature - occurred at Dun j * some years. ago. Mr. D. Brent, a H.gh agjM the Provincial Government v„ by obligations were undertaken' J? General Government in conseaupV , the abolition "of- the provinces £, of High Schools Board was created a \ later date, and though it continii Pr i 4 a avail itself of Mr. Brent's VervkS lcould not deal 'with his life <~„,• ll ment.. The finite thus "We believe that the GovernmenV? this day Has to make up a reduo!' which the Board, retrenching!! 1 round, made in Mr. Brent's salary i the'feanie : Way some of our Universif professors, though subject to the Cot« . cil as teachers, are not depends* that body But oh the fresh*Si? Church of Otago for their salaried Ti n colony mrnt have to make the ii pleasant discovery that it has to D av Mr. Aldis's salary or compensate L, for disnii§fiaL ' m The cablegrams* this morning contai many" interesting items. Mr. Gladaton" 1 has assured An interviewer that he hag n idea of resigning, And intends to persever in the Democratic programme, despite th opposition of the House of Lords, (j received a great Itadical welcome 0n his returii iron} Biarritz. ''Jack tr" Ripper " :is said to have been discovered i' 9 an• English fanatic "asylum. As ever lunatics Have Already avowed themselves tc be that delebrated- individual, the inforrn a tion must be taken with reserve. Sheridan charged With ' being implicated in h' Dublin explosion business, has been put on his trial, but the jury have disagreed Mr. Thomas Salt - baa made an i ra ° portant announcement at a meeting of the directors of the New Zealand Midland Railway Company, which gi, reason to hope that the Company will vet finance Its undertaking, and complete the Bast and West Coast lines. The war in Brazil is still progressing ; a plot has been discovered to - murder the President, and several persons shot. Some commanders of warships have been removed. England America, and Italy have declined to accord the insurgents belligerent rights. Chili i 8 also suffering from internal troubles, and the capital is in a State of siege. Some details concerning the massacre of the French force in Africa are given. lb appears that the camp was surprised while the soldiers were Sleeping, and the French report » number of officers, non-commissioned officers arid fneti missing. The French hold Timbuctoo, which is now threatened by the Tuareg's*. ' The Commander has only a small force, and scanty supplies. In the Chamber of Deputies the Premier stated that there was no intention of giving up- TimbuCtoo, and that further reinforcements would be despatched. Franc* has not seen the last of this " little war," and sooner or later "her policy in this quarter must bring about unpleasant relations with England. ■ '" ' We are informed that a private cablegram has been received by a gum merchant in Auckland giving the result; of the sale held in London on February 8. lb states that 3000 cases were offered, of which threequarters were sold at a decline of £6 per ton. Mr. Murray, the Victorian mining expert, who has been visiting several of the goldfields in New Zealand, with a view to reporting on the ' prospects "of obtaining gold at low levels, has returned to Auckland from the Thames. Mr. Murray has had to go pretty rapidly dve"r the ground, but the arrangements made respecting his visit have enabled him to obtain all the material required for his report. A new and interesting serial tale, en*' titled " Who Wins," by May Agnes Fleming, the well-known authoress, whose works are so . popular ' with readers of fiction, Will be commenced in the Herald on Wednesday nexb. In addition the same issue will contain Several new features, which it is intended to continue weekly. Another of the series of articles by out special reporter on the gold mines of the Upper Thames appears in this day's issue. It-deals chiefly with the prospects and operations of the Woodstock Gold Mining Company's mine. The ordinary meeting of the Auckland Harbour Board will be held to-morrow afternoon at half-past two o'clock. The following motions, of which notice has been given, will come tip for consideration:— Mr. Witheford to move, " That the foreman of works bs instructed to deepen the water alongside Birkenhead Wharf, to providj the necessary berthage accommodation for ferry steamers, cost not to exceed £30." Mr. Witheford to move, " That the foreman of works report to the next meeting of this Board as to the necessity for completing the Northcote ferry tee, Quay-street, in accordance With the original plan, and also as to the cost of carrying out the whole work." Mr. E. W. Alison to move. " That with reference to by-law No. 79, the resolution of the Board adopted on the 7th November, 1893, and the report of the special committee adopted at last meeting of the Board respecting the payment of wharfage before goods are removed from wharves, it having been found inconvenient bo merchants and others to pay wharfage on each shipment as lauded, it be an instruction to the secretary that all persons who have paid wharfage regularly shall be allowed to pay wharfage once in each fortnight on all goods landed within that time, buc should Wharfage not be fully paid at) the end of each fortnight, goods to be all once stopped until all wharfages are paid. Our obituary column contains a notice of the death of Mr. Daniel Joseph Reardcn, an old identity of Aucklard, which took place at his residence, Anglesea-street, on Saturday. Mr. Beardon arrived in Auckland in 1858; and his wife and family followed shortly afterwards. He continued to reside in Auckland up to the opening of the Thames goldflelds in the end of 1867, carrying on business as a builder. He was induced to cast in his lot with the goldfold, and resided there until about 10 years ago, when he returned with his. family to Auckland, where Jie has continued to live since. He leaves a wife and large family, most of whom, however, are grown up, and three of them are married. Shortly after -past eleven on Saturday night a brilliant meteor was visible in the south-eastern part of the sky. It travelled in a southerly direction, and for the few seconds while it lasted lit up the country. A few minutes later a report as of a gun was heard. This sound was heard in different parts of th* country, as far easterly M Turanga Creek, and in some places io was heard much louder than in other?. The ministerial delegates to the annual meeting of the Council of the Congregational Union Of New Zealand have arrived in this city, and yesterday occupied the various Congregational pulpits in Auckland and suburbs. The proceedings opeu today in the Beresford-streeb Congregational Church, when a large number of clergy aD laity will be present. From ten to hallpast eleven will be meeting of committee, and from half past eleven to one p.** meeting of Council. At this meeting committees and officers for the session will M appointed, and notices affecting the c 0!""' tution ' will he received. An hour will ce devoted to lunch, and from half-past M™ to five p.m. meetings of various committee will be held. In the evening at seven a public service will be conduct* 11 by the Rev. A. H. Wallace, of Duneda. sermon by the Rev. G. J. Allen, 8.A., » Wellington, and communion service P re " sided over by the Rev. G. William?, « Timaru. A Collection will bo taken up on behalf of the Union. The full programme cf the session will be found elsewhere. Mr. A. B. Harrison, of Bell Block. h« brought to the office of the Taranaki News, a portion of th© backbone of a fat buliocs which was slaughtered a few days ago *< Mr. Bayly's slaughteryard. In the boM was firmly embedded a portion of a prong a a hay fork, rive inches long, which &«» pierced the spinal cord, and the animal as» lived* arid thriven after the injury. l» " supposed that the injury was inflicted wnon the animal was young, and the bones were comparatively soft. - .

. .uv,/> meeting of school teachers was L J pfg£ «ch6ol on Sab"a I forenoon to consider the matter of fut duSsal of Mr. Benge, late headmaster lLonporto State school from the Df Xment of the Board. The discussion Bmp Ke most moderate tone Thermal «**}* K„ to criticise Or question the 1° -.tn of the Board, and after several decl i,?ions had been proposed 1 one f Was re . sol S expressing a hope that the Boar* * d °C "their way nob to Consider Mr. « ,g «' a dismissal final, and in the event of M eng ße"nffe applying for re-admission to the "',! employment the application should B °. favourable consideration. A detailed Tort of the proceedings appeal's in another columnr, ; nP the recent visit of the Minister of , V Ttn ChriSurch, Mr. G. W. Russell, « hii> fc- P.iccarton, Waited on him;fe» M ii,ui the small birds nuisance, and asked TO the Government could see its way whe f a Siting a subsidy for the destruc- '? f.3 birds. The Hon. J. McKeime tl( !" °V . Government recognised the im--5a . !of the evil, but would not granb a portancoott pon9idered the duty of de , BU • y the rinall birds fell on the local itroyw 0 ;rninent had intended to inbod,e?'„ wi.l.ition on the subject, bub, in hoduce legi- ishesof the local bodies, had deference to en* A Thiß y ~ r£fr M be brought in dealing with the wO - u „„. and providing machinery for the nU l a Sic destruction of birds, Probably KiVieu would be proclaimed, and inspeo- ?' appointed, whose duty it Would be to a that the whole country was covefed. Mr McKenzie explained that it Was a mistake'to suppose that the runholders were ,übsidi«ed for the destruction of rabbits. All the Government did was to appoihb inspectors, who saw that the rabbits were destroyed'at the expense of the owners of the land. A paper on "Monumental Theosopby" was read in the Choral Hall last night by Mr. Samuel Stuart. There Was a thin attendance. Mrs. Draffin presided, and Miss Lilian Edger, M.A., was also on the stage. The paper, which was a general treatise on Theosophical principles and research, was listened to with a good deal of attention by those present. At St. Benedict's yesterday the High Mass was celebrated by the Rev. Patrick Corcoran, of Sydney, who also addressed the congregation on the season of Lent and its observances. Mr. John Fuller gave aft excellent rendering of the famous " Cujus Aniraam" from Rossini's "Stabab Mater," st the offertory; and the choir, under the baton of the Rev. Dr. Egan, sang Weber's Mass. The soloists were Missed Lorrigan, Danzey, and Brannigan, Mrs. Dr. Butnaby, Messrs. Fuller, Thomson, and Pariah. The organ accompaniment was played by Miss A.°Mcllhone, assisted by Herr Tubschka on the 'cello. At Vespers the Rev. Father Gregory officiated, the Very Re*-. Father J)owney preached, and the choir produced several items of seasonable music. Miss Lorrigan sang Gounod's " Ave Maria," with violin obligate by Herr Zimmermann.

The Northern Steamship Company's B.B* Gairloch will leave Onehunga for New l*\ymouth to-day, giving excursionists an opportunity of attending the Egmont Summer Race Meeting, and visiting Hawera.

There were three prisoners in the lock-up ! or. drunkenness last evening, and a man-of-irar's man, for being absent without leave. It appears he came ashore in one of the !erry steamers yesterday, and the natal luthorities notified the police of the occurrence. Sergeant Lyons went in pursuit, md at last traced the sailor to the vicinity jf an hotel. On seeing the sergeant the tar aeaded for the Kauri Timber Company's yards, where he was temporarily lost, but with the aid of some small boys who entered into the man-hunt with zest, the sailor was started out of his cover again. Along Custom-street West Jack and the sergeant went nip and tuck" for the Queen-strdet Wharf. Here the son of Neptune got blown, and Sergeant Lyons "run him in," the man-of-war'B man being known in the jargon of the men in blue as "a threepounder."

The Rev. John Ho3king preached yesterday at the Methodist Free Church, Pitt and Vincent-streets, to good congregations, both morning and evening. He will lecture at the same church this evening, at half-past seven* on: *'Thafiftopby - , * Buddhism, and \S orthingtonism Weighed in the Balance and Found Wanting. Admission will be Free. A collection will be made for the Free Methodic Missions.

The lecture on " Socialism" this evening, in St. James's Hall, will, we understand, be an intellectual treat. The lecturer, the Very Rev. Isaac Moore, has the reputation of being a distinguished preacher and lecturer, and both in London and Melbourne the press has spoken in high praise of the lecture.

The first anniversary of the Christian Endeavour Society in connection with the street Wesleyan Church was celebrated by services of a specially interesting character yesterday. There were large congregations at both services. In the morning the Kev.C. H. Laws, of Ponsonby, officiated, and gave an attractive and appropriate address. The Rev. S. F. Prior conducted the evening service, and preached an earnest and instructive sermon from I. Peter, ii., 7 "Unto, you, therefore, that believe He is precious." After the conclusion of this service a Christian Endeavour prayer-meeting was held. The anniversary celebrations will be continued this evening in the form of a tea and public meeting, and on Wednesday the Rev. S. F. Prior will give an address to Endeavourers on " Some Essentials to Spiritual Health."

With a reduction in the price of admission, there was on Saturday evening, at the Opera House, in spite of strong counter attractions elsewhere, a large gathering, and the hearty laughter, applause, and frequency of encores, almost continuous, testified the appreciation of the efforts made to amuse by the Alhambra Variety Company. This evening there will be a complete change of programme, though the : ra-ra Lament will be again given. To-night's programme will include a new song and dance quartette, entitled, "Flirtation," by the Misses Georgie Devore, Edith Wilson, and the sisters Anderson and a funny farce, " Bibbs and Dibbs." The popular prices will be sitill retained.

The usual annual gathering of the Otahuhu Bund of Hope took place on Thursday avening in the Masonic Hall. The proceeding 0 the evening were entirely under the control of the female members of the Band of Hope, Mrs. A. Goodwill taking the chair. The following interesting programme was given :—Piano duet, Misses Bond and Chapman ; recitation, Elsie Stringer ; violin nolo, Miss Cartmill ; vocal duet, Misses Whitburn and Bond ; reading, Miss Whitburn ; musical selection by little girl, this item was of a novel nature, inasmuch as the musical instruments were all Jew's harps ; piano solo, Mis ft Johnston ; vocal duet. Misses Scorgie and Bond ; piano solo, Miss Scott; piano duet, Misses Chapman and Bond ; violin sOlo, Miss Cartmill; recitation, Miss Lawrence ; vocal solo, Miss Stringer : part song by little pirls; piano solo, Miss Bond; chorus, "Farewell," by members. During the evening Mr. S. Logan, who had been connected with the Otahuhu Band of Hope in its early days, gave a short and feeling address which was listened to with great attention. A vote of thanks to the ladles for contributing such an interesting programme, and the pronouncing of the Benediction brought a very enjoyable evening to a close. ' ,

The Steam Riding Gallery of Messrs. ,J. B. Green and Co., Karangahape Road, did a roaring trade on Saturday afternoon and evening. It is an American patent, brought down by the s.s. Mariposaj and was in use at the Chicago Exhibition. There is a little negro automaton, who attends to the organ and performs various popular melodies, from " Annie Rooney" to "Ta-rara-boom-de-aye." On Saturday night there must have been 1000 persons present, and the Newton youngsters, not for the , first time, were riding the high horse.

The police have picked up a purse in the city within the la3b day or two, containing a sum of money. Nobody has taken the trouble to call at the police station and make inquiries about it, and ib is going i-begging. / .y

In the navies of the world are enlisted 191,000 men; the commercial marine employs 692,000; coast trade and fisheries, 810,000: a total of 1,693,000. If marines, coastguards, and the men of the life-saving * c ryice are included, the total will exceed 2,000,000. or 3 per cent, of the able-bodied men of the Christian world. '."• *'*•" J *