COLONIAL CREDIT.

Otago Daily Times, Issue 10397, 27 June 1895, Page 4

COLONIAL CREDIT.

Press Association—By Telegraph—Copyright. Melbourne, June 25. The Argus says: "We have got back to the halcyon days of colonial credit, owing partly to the extraordinary cheapness of money equally with the extraordinary dearth of first-class securities in London, and partly on account of the Bt6ady regularity with which the public obligations in the colonies, save those of one or two minor New Zealand I Harbour Boards, have been met." ! The writer,.referring to the action of the New Zaaland Government in contesting the cyanide patent, says:—" The British Crown has a right to compel the patentee to sell j tbe privileges to it when they relate to one j of its recognised fauctions, bat it makes fall and fair recompense. New Zealand proposes to adopt a species of mimicry of this power, but'extends its application. This raisea the grave constitutional queskon whether colonial Governments can use prerogatives to the injury' of private ownera iri a matter outside the functions of Government.1'