NOTES AND COMMENTS.

New Zealand Herald, Volume LXII, Issue 19142, 7 October 1925, Page 10

NOTES AND COMMENTS.

THE TEACHERS OF MEN. " Fmm the beginning of human time the heart of man has been educated by religion arid poetry, equally and often indistinguishably. Twin mothers of ' form and fear ' are they; twin sisters of consolation, twin daughters of confidence, hope and glory," writes Professor George McLean Harper in Scribner's Magazine. " A third figure now looms beside these two most ancient guardians of mankind, her feet heavily built, her hands sinewy, and her bead indistinctly veiled. She is science, who has grown with man and been the companion of his childhood; and at last she claims authority equal to that of poeti-y and religion. *We are one indeed,' she says. When religion had only poetry as her colleague it was easy for them to agree upon the lessons: 'We must teach the child through his imagination, using him as the measure of all things.' It is not so simple now that science has taken the third chair. Though her Htead is veiled and her body is rudely framed, she lifts a voice already magisterial, declaring that there are many things to be accounted for besides man and his projections of himself against the screen of his own ignorance. Science, or knowledge based on physical observation and on experience that can be tested by repetition, keeps her head veiled, while her active fingers grope patiently among ' demonstrable facts.' " THE PEACE OF THE COUNTRY. "I am a believer in the country," said Mr. Liovd George, in an address to a Welsh village institute. '1 should feel happier and more confident about the future if there had been more people living in the country. There is a calm which comes from the country. It is the countries that have their population in the rural areas that in the end will pull through. I believe that is going to save Russia in the end. A vast mass, 90 per cent., of the people, are outside the towns. I should feel happier about Britain if there was not such a large proportion of her population concentrated in the dusty, feverish atmosphere of the great cities and industrial areas. 1 have been saying this for some years, and I am perfectly certain that there is no more important question for the statesmen of Britain than the problem of getting a larger proportion of the people to dwell in the calm, secure atmosphere of the country." Mr. Lloyd George said they had only to look at what a man did to save himself to see what the State ought to do. A man who had been working at high pressure in the town sought a weekend rest in the country. It soothed his nerves and tranquillised his whole temperament. He then went back to his work with firmer nerves and judgment. The English week-end habit ought to convey its message to statesmanship. The pteople felt that there was a real need of something that the country alone gave them to enable them to face the problems of everyday life. The difference between the difficulties of statesmanship to-day and difficulties of statesmanship after the Napoleonic wars was that after the Napoleonic wars there was still about half the nation, if not more, dwelling in the country. To-day, four-fifths of the population dwelt in the towns. That was the measure of the, greater difficulties of the problems to-day.

DOMESTIC BORROWING,

The public response to the Commonwealth Government's conversion loan of £67,000,000 has been so gratifying that the Treasurer is confident of a successful conclusion of the operation. The holders of per cent, tax-free war loan are being offered the option of conversion into per cents., subject to "Federal taxation. The rate of interest was discussed in a statement by the Prime Minister recently, in which he not only stated that SJ, per cent, was favourable to investors, but also that the Government would not consider increasing it. After reviewing recent events in the world's financial centres, Mr. Bruce said:—"lt would seem likely that .if recourse were again made to the London market money could be obtained for the purpose of this conversion at less than 5 per cent, without any difficulties of exchange. Finding itself placed in such a strong position, the Ministry has no need to contemplate a second offer o? any kifid in Australia, and the trend of overseas markets supplies a striking confirmation of the view that the present offer of per cent, is highly favourable to the Australian investor. It is clear that, by a policy of borrowing abroad for redemption purposes bad of restricting issues in Australia, the Ministry could easily have forced the Australian rate of interest down to the level of that prevailing abroad. Feeling confident, however, that the great majority of Australian investors, if offered satisfactory terms, were willing to convert and preferred to keep war-time loans domiciled in Australia, the Ministry offered a rate higher than that for which mcney could be obtained abroad. Sentiment and justice combined to weigh the scale in favour of our own investors. Beyond the rate now offered, however, the Ministry could not and would not go. Every one of us is a trustee of the public credit, and even if the terms had been mude less attractive than they are, obligations of service endure. This spirit is bringing I hundreds of people daily into the loan."