The Temuka Leader TUESDAY, OCTOBER 1, 1889. THE COTTON CORNER.

Temuka Leader, Issue 1950, 1 October 1889, Page 2

The Temuka Leader TUESDAY, OCTOBER 1, 1889. THE COTTON CORNER.

Cableghuhs inform us that there is a “ corner ” in cotton, and that in order to defeat its object the millowners have decided to close their places of business for a time. This is one of the ways capital exercises tyranny over labor. Here we have a combination of capitalists uniting together to “corner ” cotton, so as1;o inceaae the price of itj and another combination of capitalists endeavoring to defeat the objects of the first combination by closing up their mills, and ceasing to use cotton. The first is a strike against selling cotton under; a certain price; the second is a strike against buying it at so high a figure, and thus is the house of capital divided against itself. But though capitalists are thus engaged in an internecine warfare, it is the . poor laborers who are thrown out of employment by the shutting up of these mills who must suffer. The sellers and buyers of cotton have any amount of money to fall back on during the fight; they will not have to fast; they will not have to deny themselves anything, but their poor unfortunate employes, who have been living from hand to mouth, will probably have to do some compulsory fasting. It is evident from this that reform is necessary. The fact is, wealth is getting into fewer hands every day; individual enterprise is being destroyed by “ corners,” syndicates, and companies, and very shortly there will be nothing else. This cannot go on, and there are not wanting signs that the time is not far distant when capital will be compelled to realise that it must not work entirely for self.

THE NEW BISHOP OF CHRISTCHURCH.

As we anticipated, the Venerable Archdeacon Julius has been elected Episcopalian Bishop of Christchurch, and a telegram states that he has accepted the position. The diocese may well congratulate itself on the selection made. He will be a tower of , 4 strength to the Church, and invaluable in promoting the interests of the poor. It is not only the Church of England has an interest in this matter. All creeds and classes have an interest in the placing, in authority men of broad, liberal, and sympathetic ideas, like Archdeacon Julius, He will set a good example to his clergy, and countenance and encourage them in their efforts to improve the social as well as the spiritual condition of the people, and thus good must come of it. We notice that the appointment has not given any great pleasure jo our antiquated, grandmotherly friend, the ;Timaru Herald. It does not seem to like it, but we could not

expect much sympathy with Arc deacon Julius’s views from that quarter. We feel very glad of the appointment, and are certain that it will prove good for the Church, good for the whole of Canterbury, and perhaps lor New Zealand.