WHAT OTHER PAPERS SAY.

Poverty Bay Herald, Volume XXXIV, Issue 11127, 16 November 1907, Page 4

WHAT OTHER PAPERS SAY.

■Ai' stations go m New Zealand, the _ Gisborne terminus is fairly Our well equipped with station Railway, buildings, but the; rolling stock engaged ott the line is of. the oldest and most obsolete .type,-the: carriages having long since lost their springs (if they ever had any), and, m the majority of ihstaficieSi not havingappar&itly seen a paint brush for years, while .the cushions are more or, less dihvpi.daied, and, even m; the first-class carriages,, seem to have served a long apprenticeship m a secbhd-rate billiard > saloon, before, being pus to their present use. But Poverty Bay'people take these matters philosophically and seemingly jog along m: contentment oyer a road, good enough m its way, which is, rendered rougher than it reallyrisi- by the aforementioned springless carriages. The visit tpr,: who cannot beibther than favorably inipressed; with the' enterprise shown by the> business people of Gisborne, derives, however, a. very .unfavorable impression o^ the parsimonious Department whicii runs the » railway.—Farmers' Weekly, Auckland. „' '• -, , i . Ti V , :. " ii -...'; —,- How injmense the losses of, the investor. ":-. hayie been ibejcarcely redlisFihancial ed m Europe. Yet an AmeCrisis, rican ; financial journal -.bas. \ recently poiritieid outthat the fair m the value of all American" sequri.tiesi during the present year has befeh £1,000,000,000. ... This prodigious- change m values: has affected.; the money maik-; etsof the world, and has m .some degrees contributed to the financial difficulties from which this country, is suffering, though American securities are no longer he)d on a largo stale, by Engjishmen. Capital has become scarce m the United States, and the railways and industrial companies which. urgently need' it have attempted to borrow m the. European market. They have had to pay high rates for any accommodation that; they have obtained, and the result is that there has been a general rise m the rate of.interest, accompanied by a fall m the value of all securities. Consols.^paying--2_ per cent, cannot be issued at 100 when first-class American railways are ready to pay 5 or 6. and when New York City has to borrow at 4^ per cent.-r-London Daily Mail. , , ■ I

The negotiations of . which the Native Land Settlement Bill Taihoa. has been the subject /during the past week have displayed the Native Minister m quite - a new light. Ordinarily the. most amiable' and accessible of men, and very far - from 'the most strenuous, lie has developed, if the Native chiefs who have assembled m Wellington to discuss the Bill are to.be believed, into a, stern and capricious tyrant, and if his own professed intentions with regard to the Bill are to be believed, he has developed at the same time into -a genuine "hustler," anxious at any cost* to run his ■" measure through. The aggrieved tone of the assembled chiefs on both these accounts was very emphatic at their meeting on Friday last. It was stated that they had been informed by the Native Minister that he had a Bill which 'he desired them, to discuss, that they had assembled from all parts pf the North Island to discuss it, and that then, " all tliat, the/ Minister, had done, was tp say that he could not meet them because of pressure of business. ... In the present case the reasonableness of the request for delay is put beyond a doubt by the fact that Parliament also needs time to consider a work of such immense importance that it would be far better not to do it at all than to do it badly. The Bill that is now before the House is m . many respects an excellent one, and the commissioners are entitled to the credit of Tmaaiy of its' best points. Next session a better measure can be introduced, and m tlie meantime the: Native Minister may cease to alarm his (fellowcountrymen by valiant declarations about a Bill which cannot (possibly go through. "Taihoa" is unfortunately a sound watchword for once. — Wellington Post.