THE COLONIST.

Colonist, Volume 2202, Issue 2202, 8 March 1877, Page 3

THE COLONIST.

PUBLISHED TUESDAYS, TH.UKSDAY.S, AND SATUEDAYS.

NELSON/THURSDAY, MARCH 8, 1877.

, MOTUEEA FLOODS, ...'.- , Shortly before our last Summary was i issued part of..this Provincial district had .'-' been* devastated by floods, while in other-parts of the Colony the same storm had inflictedVot leas serious injury. From the Taieri, especially, accounts are extremely .^disheartening, arid'there, as well as in, and near Motueka, roads and bridges have been damaged to an extent beyond the means of the settlers to restore. From both districts appeals for assistance have been made to the General Government, but the guardians of the public purse are too much concerned with its condition to give anything more than fair words to the people, without whose prosperity it muat collapse. Parliament may and no doubt will be appealed to, and probably with success, but, meanwhile, attempts to restore the settlements are seriously impeded and rendered far more expensive from the difficulty of moving about. .Nelson has never been wanting in readiness to help the distressed, and at this time of depression it is specially gratifying to see the liberal response made. Already a sufficient sum has been raised to relieve the most urgent wants and anything like complete desti- ; tiition need no longer be feared. A noble spirit of independence is exhibited by most •of tlie greatest losers. They ask no money, indeed they would nofc accept it if offered, and in many cases they do not care to make public the extent of their misfortunes; After years of labor they are bravely prepared to begin again and endeavor afresh to found homes. When first they settled the Government of the day contributed to the formation of roads from the purchase money of their lands, and now they ask in vain foe help in making these passable. Private •charity cannot do much, and the self-deoial ofthe settlers may be tried^too far. Costly experjm^atf are-made. In .plant imported labor in -a^wllderness where success cannot be anticipated, and where a fraction of the sums wasted would keep together aa excellent body of ■experienced colonists, they are told to shift' for themselves. 1 FUNDS OF THE CONVENTION". The Otago Convention is fortunate. Their 'scheme to counteract what they call " the wiles, of Centralism" by sending a deputation. :to interview the Queen, commended itself bo strongly to a number of persons of fervid imaginations, that their Treasurer ** received a considerable sum by way of subscriptions from the country districts to assist in defraying the expenses of the dels- • gates.'' ' The illness of Kir George Grey detained him in the Colony, and so little confidence is felt in the capacity of any other of their leaders that the embassy is abandoned.: They are tbus spared " the inextinguishable laughter" which the appearance of the pilgrims in .England would "certainly have excited, and they, have still the money. .. At their last meeting it was resolved to ask the collectors to ; ascertain 'hdw1 the contributors Wished they funds; to be dealt With, and to ; this 'migll^ have been added, a' recom- . mendation to decide between two purposes now before them. The true chief otj pro* " vincialism is; undoubtedly Mr Macanjdrew, and'swellidg his testimonial might fairly be Bubmijbtecl.as a proper application 'm,the money. As the system cannot be preserved, he, who loses most by its abolition, might be solaced" by what was given on its behalf. This is one way, buc there is another and perhaps a.better. Prepared to abandon the country despoiled of its Superintendents, mourning the baseness ofthe majority which suppressed Executives, messenger; was sent to America in quest of .country where the political puritans ot Ofcago might establish the form of Government they adored, and where no spoiler would be '' backed by the guns of a British fleet. The United estates would not do, for there, t astonishing as it may seem, there is a perf; - verse resolution to maintain things as they are, and etill worse, the Government will not give, its land away. Lower California was visited, and there the fugitives from oppression are invited to go. Land reported to be purchaseable at'a few pence an acre, free grants are liberally made, there is no government worthy of mieution, the Mexican Eepublic cannot retain the country long; and'when it is annexed' by the States the rise in the value of the land so cheaply 1 t acquired .would be a fortune. This is the information -sent to Mr Macandrow, and there is such a delightful mixture of money making,, liberty worship, and speculation on the coining plunder of unsuspecting Mexico, that the contributions referred to might be ~ given to assist in the foundation of thissettlement, on the principles of Kob Eoy. I . Now, Zealand, unfortunately, there is t prejudice against armed resistance to tb( law, and plain spoken .people reply to sucl talk by mention of the gallows. In Mexict

revolution is the normal slate, and who can fell to what dignities our Southern patriots' might rise ?v President Macandrew; Secretary Murray, Treasurer Thompson, Chu>f Justice Stout would nDt sound so badly. By all means let the subscriptions be spent in founding such a colony, and not one objection will:,be heard from those left tfehind under the yoke of tyranny.

LOANS. There are different ways of keeping! a promise, and while the Government respects the words uaed by Sir Julius Voge.l jto Messrs Rothschild when they floated the iVur Million Loan, ib can hardly be contended that the spirit is not violated by recent transactions with the Banks of New South Wales . and New Zealand. No one can have read with care the correspondence on the present Agent-General's greatest feat of borrowing without being satisfied that he conveyed, and actually meant to convey, the impression that the money then obtained would last over several years ; nor bhat he had either neglected to inform himself as to the immense sums immediately required, or, what is far more likely, tlut he concealed the fact in the dread of lenders being warned off, and trusted to the chapter of accidents to avert a stoppage till his connecbion with the Colony was broken. The belief that ;he saw the hard times ahead, and that he had made an arrangement calculated to render

tne pressure aimcuic ror nis successors no bear, was at; the bottom of the burst of indignation which his desertion called forth. There was something more than heartlesaness in making things pleasant for himself at the expense, of the country ; he was; at the very time, as shown by his subsequent admissions, resolved .to leave, and no language could be too strong wherein such ungrateful treachery was denounced. He went, after seeing the end of his loan, and with large sums needed to complete and render profitable public works, begun without counting the cost. The English money market was closed, public confidence; in Australia was not enough to juatity a hope that even a small loan could be floated there, and yet without more funds a considerable part of tlje previous outlay would be uuproductive. In their desperation Ministers looked round to see who had an available cash balance, and aa the one fortunate colony was New South Wales, the conference at Sydney gave excuse for an embassy to the Bank suffering from a glut of Government money. Colonial accounts are envied by directors whose companies are refused a share* and still they are not always without alloy. New South Wales had a favorable arrangement with its bankers, money | chanced to roll in faster than it could be i used, and so that "coveted account became an intolerable burden. The deliverer appeared in the person of Mr George M'Lean, who represented a Government able and willing to spend or to borrow to any extent. Haifa million was there obtained from a bank to which any share of this Colony's account had-been refused,* so what must the Bank of JNew Zealand do to maintain its not too modestly asserted pre-eminence ? " Double the amount" was the prompt answer, atid tßua compelTtldn r"itsS"! relieved our necessities. A million and a half from two banks, the Imperial guaranteed debentures again in the pawn-shop, treasury bUls, legalised overdraft?, and all the other devices, of which for many years our Government has shown a perfect mastery, furnish a very pretty sum, and while it lasts all goes merrily along. Prodigals are never troubled with the thought of a day of reckoning. Something may turn up, and if that something is on the wrong side, what matter to Ministers? Office is no inheritance, and as an old hand lately told the people of JSelson from his own experience and practice, distinction is nothing unless solid pay goes with it. Personal advantage is to be firsthand, bo that salary and allowances are continued a year or two longer, our rulers will not anticipate the evil day, when the little bill must be met. They can but go out and leave their opponents the odium of providing means. Whoever is then in power will find the large sum that will be wanted very hard to raise. A scheme of immigration and railways i 8 calculated to tempt these with money to invest, but there is nothing attractive in a loan raised to pay off old debts, financing may be very clever, and yet it has: brought apparently flourishing concerns to the ground, and with them their managers, .[though possessed of ability far beyond what the present Cabinet;can pretend to.- However., they doubtless console themselves with the thought that in politics there is no personal liability,,-an.d the chance'of providing for their, families by a long term of office must not be lost. All this there is no reason to suppose Messrs Eothschild care about, whatever the outside subscribers to the Four Million Loan think. They had their profit in the .enormous commission, and time is afforded for ridding themselves of any; debentures they found it expedient to hold, before the Home market is injuriously affected by the competition, of a fresh loan, The wealthy friends of the Agent-General are protected, and no doubt when the terms of the recent transactions are disclosed, ie will be found the Banks have been mindful; of their own security. The Colony may suffer in credit, and taxation may bave to be increased beyond even its present crushing total, but what is that, if patriot Ministers have time to lay by for a rainy day ?