THE Thames Advertiser THURSDAY, JUNE 4, 1885.

Thames Advertiser, Volume XVI, Issue 5185, 4 June 1885, Page 2

THE Thames Advertiser THURSDAY, JUNE 4, 1885.

The greatest of the forces which led to the formation of the Ministry now in office was the idea so generally prevalent that in Sir Julius Yogel's ability as a financier was to bo found tho largest measure of hope- as to ; tho removal of tho deprossion afflicting*

tho whole of the colony-a depression which had had so long a/run thatiour colonists eagerly caught;at anything which gave promise of change for : the better. Times were: badj:the tightness of the chest increasing; but hope was sustained largely owing to the supposed wizard-working power of the Treasurer. We are not concerned at present to express adhesion to all or .any, of .his .schemes,,.,but , will, just 'remind our headers fchjiVtKe'task he undertook has, through circumstances which neither he or any "other man could have calculated on, become one of increasing difficulty. On his. accession to office,'what mancould by any possibility have' 1 counted on the'matter of defence becoming so urgent as it has recently done? And not only has this extra .outlay, .been incurred, but the Russian difficulty so, largely reduced the price of' consols and of colonial securities at, home, .that had:not the, greatest judgment -been ■■■ exercised' a huge loss would -have accrued;in floating piir loans there. .That" matter has, however,' been .settled, and Settled satisfactorily, owing in no small degree to the Treasurer .choosing the 'opportune . moment, and',. largely;.i'p the assistance '' given by Sir Dillon; Bell. Major Atkinson criticised the financial policy of 'the 1 Government somewhat severely in his speech .at Hawera recently, but we very much (lojubt'if thatgentletnan could havedonenearlyso well, especially in the matter'of the last loan.!' A Southern contemporary points out with much force the fact that "no! Government has the power ; of: actually removing depression, simply no' Government has. the;power of raising the yalues'bf the staple^products of the country;" and goes ron, in A'minor key to say that a period of» depression may. be met, in various •'ways;'£-". They may,, economise, '] and,,,retrench,; and endeavour to tide over the. difficulty in that way, which was the, method favoured : by the Atkinson Or they may adopts V the" ; policy of the present;. .Government .— postpone-as many burdens as possible, discount the" future to some Extent,, make''things pleasant for the time, and trust to the tide turning soon, and-bringing aifresh wave. of'.prosperity, over the lland. The 1 'latteiv is; ; the: more attractive policy, but is a bold one to follow, and disastrous if it fails. Had things taken j a turn/ for' the .better—had the 'price of wheat and' .wool Government would' have been able to claim credit "for.'having • relieved' the ratepayers at a critical juncture; and the' colony/'having'gained fresh strength, would have been in a position to take up its burdens' with/renewed"ch'eerfujrieVs'. Thiugs have not improved, however, and the colony now has to take up a j load

heavier than ever, without the cheerfulness and elasticity to sustain ij." Now;we/dd hot.agree with this latter sentence, at. all,:,,but contend jinost strenuously.jthat whatever grounds existed for when the present took office': remain with (if anything) increased force just now'; and | that it would be the height of; sfblly to lose "cheerfulness and elasticityV because of tlie heavier burdens that 'have, only come a little before the time W ; must,have had them.to>bear., There are many things' Julius Vogel's opinions with which' we .disagree,;but" the colony as a whole v deWrmiried to give i'him >an opportunity .of.securing namo and 'fame as ■ their ihelper,..in time of'need, and :we:believe'ithkt if they, would really secure the result) thus aimed at, they will have.,to ( waif at least to the end of the. coming, i session, rather than .begin a course i( pf -distrust and opposition now—rand , ; we say 1 this advisedly—-before lie has > 'bad £ fair opportunity of showing what he can dp. One matter we certainly hope.allelectors will; watch, yiz.,; that) their members in the House of : Eiepresenta. tives ; do not permit without protest in the coming session so very. large ! ''a' proportion; oi the. country V.'time, being ocoupied ; .with motions of • ■". no} confidence." : Wehave had thenvadina'useam,and decidedly prefer the; practical work of legislation.! Hitherto'wejhave spokea of colonial matters; in relation to depression and.its cure, we conclude by a reference to the buds we see springing out of more faith in.our local prospeots: locally and generallyj we, trust that confidence will rapidly grow, but to ensure it both individuals and communities.must not/go by leapsj and' bounds from the'heights of hop'e to the depths of despair. Life would lose much/of its' savour had we.;no ties to surmount; and in bearing'; ihem those .'will- do > who'patiently and persistently pursue the;even tenor of their way.