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Oamaru Mail, Volume IV, Issue 1093, 20 October 1879, Page 2

The statement that only L-SOO,OOO of the LT>,OOO,OOO loan is taken np is generally discredited, and, w.r think, properly so. It is true that the financial journals have abused the borrowing colonies for their insatiable appetite for money ; but they have seldom done otherwise. It is probable, therefore, that they will on this occasion have as little influence on the minds of the English money lender a3 ever. The fact is, there is an abundance of money p.t t!o:i:e which must he lent to some one, and it would be difficult to persuade th-'-se who have it to lend that they can do better than lend it to the Colonies. It is quite true that the Bank of Kngland reserve has lately suffered a reduction, but it is always fluctuating, ami Colonial soouiitirs li.iv>; been greedily devoured \v! : .-:i it h:t.< i- n much lower than it is now. We have 110 doubt that the Kngli.ii money-lenders have become a little confused in consequence of the numerous and varied calls that have been made upon them l>y the Colonics. It is not a matter for surprise that they should look with wonder upon the small loans that arc sought under such varied auspices. Amidst the clamor for Municipal and Harbor Board loan?, it is more ditiicult than it once was for them to realise the exact position of Colonics seeking for accommodation. Moneylenders are naturally cautious men, and, although they may feel pretty sure that the Colonial securities offered are now as good or better than ever they were, they, in the absence of an exact knowledge of our system of Government, arc a little anxious to know how it is that there are so many competitors for money for public purposes in the London market. If municipalities and other corporate lwdie.i must seek money in that market, they will lind it to their interest to amalgamate, so as to put one large loan into the market instead of a host of stitr.ll loans. Such a plan would certainly relieve the borrowing colonies of unpleasantness, and, perhaps, failure. There is nothing to fear in connection with the L 5,000,000 loan, except the injury that croakers are capable of doing. We would ask those who exhibit such wisdom on the subject how they know so much about it, seeing that the debentures of the L 5,000,000 Loan could scarcely have reached London by this time. We imagine thai it will be discovered that the LSOO.OOO ha 3 been taken up in anticipation of the arrival of the debentures. If so, instead of there being cause for gloomy forebodings, there is every reason to apprehend unqualified success.