South Canterbury Times. SATURDAY, FEBRUARY 6, 1892.

South Canterbury Times, Issue 6753, 6 February 1892, Page 2

South Canterbury Times. SATURDAY, FEBRUARY 6, 1892.

The outcry against the scaring of capital by taxation, —which without a doubt is one if not the chief causes of the scare—is still being kept up in the Opposition Press of the colony. One would think they would have grown tired of it by this time. Everyone ought to be sorry for any settler who finds himself placed in a difficulty through this scare, but the Legislature must consider the whole community, not the unfortunate few. And the scare, if «« real as it is asserted to be, must have some excellent consequences. If foreign capital is withdrawn it will give a chance to capital owned in the colony, which is now “ cut out ” by the competition of cheaper money from England. It will “scare” would-be borrowers, who in the long run will be the better off for not going into debt, in order to make a rush for the present, and laying up for themselves a burden for the future. This colony wants no more foreign capital. It has now the machinery it needs for producing capital as fast as it can be profitably used. ' The alternative to borrowing is not going without means, but increased production. The existence of the Assets Company, of the Land Company, and of all the great land owning companies, ought to be a warning enough against the superstitious trust in the aid of borrowed money in settling the country. Among all the farmers’ pests “ for first class ruination back a mortgage ’gainst them all.”