CAPTAIN RUSSELL'S INCONSISTENCY.

Otago Daily Times, Issue 10363, 18 May 1895, Page 8

CAPTAIN RUSSELL'S INCONSISTENCY.

TO THE^EDITOB,

Siß,rrThe-members- of' the Opposition who have lately stumped the country in the interests ' of property have loudly denounced the policy— . the ."fplunging policy,"; as it;' if' termed—of the ■ present^ Government; 'The Opposition " stumpers " have, .Jereniiah; like,' predicted sill manner of disasters for their political opponents, but, fortunately, their prophecies/havecome to nought: The press who favour the Opposition have re-echoed this cry again again, bui all to no purpose. - Captain' Russell —the high priest of the Conservatives—in his speech at the Garrison Hall dwelt at great length on the dangerous character of the Government's borrowing policy. IPappear3 to have escaped most people's memory that Captain Russellat one time f-up-ported a policy which for "plungiog" completely puts the present Government's proposals in the shade. So thai there can be no mistake about the matter, ,1 give Captain Russell's own words, as they appear in Hansard, and quoted by .the Hon. Mr 'Jennings in the Legislative Council1 during the debate on the Governmant Advances to Settlers Bill, Captain- Russell said : ■" There could be no reason, he thought, urged against the Government lending; money to improve the sojl.ti Hundreds of ' 'struggling"settlers^- who were unable to improve .their properties owing to f the-high rates:of interest they had >to pay, .wanld, under, his scheme (that is, raising be^able ; to employ-;mimbew Vof BDOftreK;- with /.benefit, tor; themselvesyr the laogvirers,, and the.colonytnUndertakingsiwhich Sift 1" not be .now thought;,-of,•becausepcapital was practically unprocurable,- would'be commenced, and an era of prosperity such" as they had never enjoyed before would be before them. The amount of money retained; in.--the" colony would be great,'for: taking the.-debts a t £20,000,000, and ;the. difference .between the interest payable : at-2 per cent.—that^was, between 6 add 8 per cent.—the saving would be £400,000 a year, which would be retained in the colony and expended in productive labour, which would in itself be of inestimable value to the colony; nor would the advantages stop there." -.■■■ •:-..j- Int.- :.■■

Captain Russell has been credited with being "consistent" and "straightforward" in his political career, but can any person be considered consistent who denounces a policy which he has already admitted was absolutely necessary for, the welfare of the country ?.; The "welfare of the colony-as a. whole?' -was the burden of Captain Russell's speech;-A Does.-it not rather ■ appear, in view.-.of the;foregoing quotation, that party purposes must be ; served before the welfare of the countryreceivesconBideration from the members of.the Opposition ? It appears an amazing fact, to me that.no person should have remembered-this'utteranee wien the captain was speaking here,' ; which, if ; i^. had been mentioned* would'have considerably , dlip'ounted bis- Assurances- that the interests of thfe.corintry were, hig first considerationWel am, ■ &<?•.•■ !•■*'■"'■rv'-.V i ;jw-^ :~S:i6 '■:■- ---| £ o D.uuedin,, Mayfl4. ' -h-* •-■■• ■•■ -;i' Siitdbad.•■-. i AND BIMETALEfSTS. ,'. "f-;;-' y-:"'■■■'■■? '•" To the "editor.' '*."!""!": ' Sib,—Mr Mallard in,his note to you published in the Otago Daily Times of Saturday last, entitled "Mr Frewea and Artificial Money," refers to an extract from the Melbourne Argos, in which that paper refers to an analysis of the United States Senate, as given by the New York Nation of February 14, .as follows:— , '■-..'■ v '•■• ;:''■■-,' States. For a gold standard ...-.....'. 17 For bimetallism ... ... • ... ■ ... 21 j Equally divided ... ... ... ... 6; I This extract, as published, will, I believe, ! give a misleading idea of the meaning and intention of the New York Nation. From information I have gathered from various publications, it appears that the two parties in the United States are not " monometxlHsts " and ." bimetallists " as we understand the terms. In the United States both parties are for bimetallism: the one considering that the I United States should single-handed.: adopt bimetallism—that is,' the unlimited coining of'; silver at 16 to 1 .{■national' bimetallism),—the other considering that bimetallism can only be restored- by agreement between 'the' -leading commercial nations {international bimetallism). In confirmation of this I give an extract from the report of the proceedings of thelnternational Bimetsllic Conference, Mansion House, London, 2nd and 3rd May 189* :—

Address of Chairman, Alderman Sir Dayid Evans, K.C.M.G—" . . . I desire to read the following cablegram from America addressed to the Lord Mayor to be read to the : meeting.this niornintr: —'^Ye desire to express our cordial sympathy with the movement to promote the restoration of silver by international agreement, in aid of which we understand a meeting is to be held.to-morrow under your Lordship's presidency. "We believe that the free coinage of both gold and silver'by international agreement at a fixed ratio will secure to maukind the blessing of a sufficient volume of metallic money, and what is hardly less important would secure to the world of'trade immunity from violent exchanue fluctuations.' This cablegram is signed by Me«srs John Sherman, William Alison, D. *W. Yoorhees, 0. F. Hoar, N. W. Aldricb, D. B. Hill, E. Murphy, C: Brice, S. M. Calluni, J. M. Carey-United States Senators. I will ask Mr Hucks Gibbs to take my place. - ■ •. .

Mr Hueks Gibbs :—" . . . I will mention that the significance of that cablegram whichl has just been read to you is much enhanced by the fact that the names appended to it include those of the leading gold men aud advocates of the repeal of the Sherman Act in ths Senate.

To understand the real meaning of the New York Nation the analysis should, I' think, be explained as follows:— ,- •

States.

For a gold standard, international bimetallism ... :, 17 For bimetallism, national bimetallism '21 Equally divided ...... ... ... 6

This puts a very different construction on tha analysis of the New York Nation from thst which would be inferred from the Atgqs's extract—not that the Argus or Mr Mallard in T tended to mislead, but that the words of the analysis are used in a different sense to that in which the Argus and Mr Mallard interpreted them.—l am, &c,

May IS,

THE TWO

GENUINE ARTICLES CLEMENTS TONIC, FLETCHER'S PILLS. IMITATED!

BUT UNRIVALLED

AND UNEQUALLED. CLEMENTS TONIC is a scientific chemical food and restores the tissue wasted by the vocatioos of everyday life-, is a prompt and safe remedy for neuralgia, nervousness, weakness, debility, liver complaint, dropsy, and chronic indigestion.

FLETCHER'S PILLS cure heartburn, backache, headache, liver torpidity, dyspepsia, and all complaints of the stomach and bowels.

These two remedies have been thoroughly tested in all the hot countries of the world. They are Bold at a price within the reach of all people. Evidence is forwarded free on receipt of name and address that will satisfy the most sceptical as to their vittnes. They are sold everywhere, but care mast be taken that thß genuine are obtained oc the money and time are wasted, and the aieease so much tho more serious.

There are over 2000 miles of gas pipes underlying the London streets. SPRING- BLOSSOM TEA.