NEW ZEALAND AFFAIRS.

Temuka Leader, Issue 2484, 1 April 1893, Page 4

NEW ZEALAND AFFAIRS.

The Argus frequently refers to the affairs of New Zealand in its commercial columns, and generally in a strain of praise. On Monday last it wrote on two important colonies viz., New South Wales and New Zealand :—" There iB a decided tendency to the accumulation of monoy, with the effect of making the banking position easier, but causes of accumulation differ ; thus in New South Wales it is occasioned by a want of enterprise. Tho quietude of affairs generally is curtailing the use for money in New South Wales, hence the growing ease. In New Zealand the case is different. Their industry in various forms has expanded, and at last, after the colony has witnessed the withdrawal and sometimes the loss, of British capital to a considerable amount, the developement has gone far enough to make savings on a liberal scale possible. The industries which are paramount in the colony are to a large extent finding their own capital, and are therefore of a healthy character. New Zealand has, in fact made a fresh start on highly favourable conditions, and will continue to grow in wealth unless tempted to plunge into a reckless borrowing policy." In regard to the cable messsage which has been received concerning the complaints of the debenture holders in the Wellington and Manawatu Railway Company, the sama journal says that the attempt to make them pay the income tax seems to it to be an un j ustifiable breach of contract.