FRIDAY, JULY 26, 1889.

Taranaki Herald, Volume XXXVIII, Issue 8534, 26 July 1889, Page 2

FRIDAY, JULY 26, 1889.

New Zealand has been attacked on more than one occasion by the financial papsrs published in London; and it has been more than once denounced as a colony on the verge of bankruptcy. Everything bad that could be said of it has been written. All this censnre has not visibly affected us; nor do we expect that praise when lavished does the colony much good. The public at Home, as a rule, do not put very great faith in the writings which appear in snoh journals which one day are blowing hot and another cold. There is a paper called the Financial Newt, which haß had from time to time most condemnatory articles on New Zealand. Thiß paper has suddenly gone completely round in its view, and now we find it praising up the colony ; and it looks as if it was doing so merely because we have a new Governor — as if be bad the swaying of the colony's destinies. The Financial News says :—: — " Tbe opening of this new era of prosperity is contemporaneous with the beginning of Lord Onslow's Governorship, LordOnslow has been received most heartily in the Colony, the New Zealanders appisoiating tbe frankness of his manner, the freshness ot bis opinions, and, above all, they are pleased at theseleotionof a Governor from the ranks of active and rising fUtesmen, eipeoi&Uy of out who b»i ttkeu tbt

trouble to inform himself thoroughly ami sympathetically of the aspirations and desires of the Colonies." It is satisfactory, however, for a paper like the Financial Newt to discover "that the cloud which has so Jong hung over New Zealand is gradually lifting, as the revenue showß slight improvement on that of the year before, while the .expenditure has been to carefully sapervisad and so rigidly limited to aotual needs, that there is a considerable saving both on the year before and on the original estimate for 1888. In every department of Government the spirit of economy ruled, with the result that only two of them, those of Eduoation and Justice, exceeded the estimates drawn up, while the savings elsewhere have more than compensated for the excess of £30,000 spent on education." We only wish the Financial Nevos was right, and that a " spirit of economy did rule " with the Ministry. The financial paper is wrong in that at least.

Mr Hams Ford bogs to acknowledge 6d for five weeks through the contribution box in the Recreation Grounds. Mrs. Bowen announces her annual clearance sale of drapory and clothing, to ootnmenoe to-morrow the 27th iast. In the Grand National Steeplechase at Ghriatchurch ou Thursday, Ahua fell after passing Chemist when' 3 miles bad been covered, at a double jump. -The fall completely put him out of it, Chemist winning easily from Daddy Longlegs. The Hon. J. White's English Derby candidates for 1890 — Eirkham and Narellan —have passed through the Suez Oanal without any mishap. A olearing sale of winter goods will be held during the next fortnight by W. and H. Pellew. New Zealand was evidently discovered for the express purpose of in an after age maintaining an industrious population whose mission in life, says the Wellington Pott, it should be to work hard in order to provide comfortably for a select and chosen few. The bees in a hive do not labour more assiduously to maintain their queen than do the people of New Zealand to furnish handsome billets for the olais who must be provided for. Of this class Mr. C. Y. O'Connor is a typical example.