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New Zealand Times, Volume XXIX, Issue 4239, 21 October 1874, Page 2

The English and Foreign news, by the Albicn at the Bluff, will be found in our telegraphic column. It is not devoid of interest in New Zealand. “The mone- “ tary position is improved,” we are told, and as an instance in point, it is added that “tho Hungarian loan was trebly “ subscribed.” It was for seven and a half millions. This is no doubt satisfactory to the Austro-Hungarian authorities, and is at all events an evidence that Lombard Street does not attach much importance to recent sinister ruinoi’S of a contemplated partition of territory, which would cripple Austria and “abolish” Turkey, in the interests of Germany and Russia. To that extent, the floating of the Hungarian loan is significant ; but not more so than the Turkish loan only a few weeks, previously, for double the amount. But when we come nearer homo, the scene changes. ‘ ‘ The Victorian loan was “ only partially successful.” It was for a million and a half, and less than a million was tendered for. Of this amount £344,300 was taken at and above the sealed minimum, 91f. The balance is to be offered at 90. Now, this is significant. It cannot be want of money ; the Hungarian loan is evidence to the contrary, were such wanted. What can be the reason why the Victorian loan hung fire ? It is not any doubt of its security. We believe it is traceable altogether to the fiscal policy of that colony. Victoria is, and has been for some years past, commercially stagnant. Her Protective tariff has barred internal progress, and now it reacts upon it from without. The British public have watched tho effect of Protection on Victoria very closely, and seen its fine gold become dim ; —the buoyancy and vigor of its early .years paralysed by the stupidity of a set of political charlatans, into whose hands the conduct of its public affairs fell. “But,” we may be asked, “ is not this “a warning to us in Now Zealand? If “ Victoria cannot float a loan of a million “ and a-half for public works, how can “ New Zealand expect to negotiate a four “million loan?” Circumstances alter cases. New Zealand is not Victoria. Most fortunate for us, tho Protection cry, which was raised at the late general election, found few supporters, and legislation in that direction has been very restricted in its character. New Zealand is not stagnant. She does not shut out population, but incurs heavy responsibilities to increase the number of her colonists. Her resources are practically limitless ; her climate is unsurpassed, if indeed it be equalled anywhere. Now, the British capitalist is well aware of these facts, and therefore a New Zealand loan would be looked upon more favorably than a Victorian loan. When wo find the following reference in the London Times to the Australian trade, as contrasted with that of New Zealand, which we reprint from yesterday’s issue, we have no reason to doubt the certainty of this Colony obtaining all the money it wants for public works and immigration : We find the exports to the Australian colonies almost absolutely stationary, an increase to Victoria being balanced by ft decrease to Sydney, and the South African colonies aro in a similar condition ; but the singular prosperity of New Zealand in recent years is attested by an increase ot exports ot nearly 60 per cent, in each of two successive years. The exports to New Zealand in tho first half of 1873, exceeded the experts in the same half of 1872 by more than 45 per cent., and were themselves exceeded in turn by the exports ot this year by 52 per cent. In two years the exports have more than doubled.

Some of the Australian items of intelligence by the Albion are of considerable interest. It is satisfactory to learn that the American wool buyers, who first made their appearance in Melbourne and Sydney a couple or three years ago, have now begun to pay considerable attention to the Australian market for wool the produce of Australia. Several buyers from Boston—the great seat of the wool trade in America—have reached Melbourne by the mail steamer, and have been only fifty-three days in making the journey. Their presence is a hopeful indication of the probable future of the market, and will no doubt lead to direct shipments, to some extent, both to Boston and New York. The public sales, it is also remarked, have commenced satisfactorily. It is also of some importance to note, while speaking of sheep, that New Zealand squatters still continue to look in Australia for superior sheep to improve their flocks. It was kuowu that two large and powerful steamships, to be driven by compound engines, were being constructed on the Clyde for the New Zealand and Melbourne trade for Messrs. McMeckan, Blackwood, and Co., and now the news has been made public. The terms and services which Mr. Russell has arranged with the Government of Now South Wales for theSanFranciscomailservicehavenot as yet been made public ; but as the Macgregor is coming to Auckland to take out this month’s mail by that route, we need be under no apprehension that the agreement will be found other than favorable to this colony. Mr. Russell’s work, moreover, has been so far perfected that ho will precede the Macgregor to Auckland by the s.s. Hero. Lurliue, it will gratify sporting men to know, still continues a good favorite for the Melbourne Cup Race. Blondin, it appears, was unable to find any place in Victoria where he could perform satisfactorily, and was about to proceed to this colony, en route for California. Miss Arabella Goddard is also about to afford Hew Zealand the opportunity of hearing a lady who is reputed to be the best lady pianist in the world. The mail via California was again two days late in reaching San Francisco from Kngland; but the mail steamship City of Melbourne sailed on tho 12th instant for Honolulu, Now Zealand (we presume), and Sydney. The newly-elected Mayor of Melbourne is Councillor Gatehouse, a somewhat eccentric, but useful and liberal, member of tho Corporation.

Brougham held the theory that no doctrine could bo advanced too absurd to find believers. The disposition to “doubt,” and _ then to “ believe ” in some peculiar form of faith which presents itself as acceptable, would seem to have taken firm root in Victoria, and to flourish, if we may judge from the following singular list of religious bodies which have been noted there by tho Registrar-General from the late census papers ; the whole population of Victoria, it being remembered, not exceeding eight hundred thousand people of all ages:—Hpiscopalians, Presbyterians (eight varieties), Wesleyan Methodists (nine varieties), Independents, Baptists, Disciples of Christ, Lutherans, Moravians, Plymouth Brethren, Dutch Reformed Church, Fi-enoh Reformed Church, Countess of Huntingdon’s Connection, , Morrisonians, Swedenborgians, Spiritualists, Unitarians, Theiats, Pantheists, Atheists, Positivists, Roman Catholics, Catholic and Apostolic Church, Greek Church, New Catholics, Allans, Christ-Adelphians, Rosi-

crucians, Universaliats, Jews, Nazarenes, Christian Socialists, Mormons, Druids, Hindoos, Mahometans, Dickinites, Peculiar People, and Cosmopolitans.