THE DEPRESSION IN THE COLONY.

Timaru Herald, Volume XLVI, Issue 4256, 5 June 1888, Page 4

THE DEPRESSION IN THE COLONY.

« Bpoaking to the Address-in-Boply m the Legislative Council, the Hon. Mr JPharazyn said : I am inclined to think that there is very little improvment. It appears to me, from what I can learn, th»t the account sales of wool are somewhat less satisfactory than they were last year, and if fchero is a possibility of a certain amount of increased wrenuu from the gold fields it docs not amount to very much. And I must 3ay that when wo hoar people talking of the danger of referring to the depression I am reminded very much of the danger which oxiats when a vessel ia m narrow and shallow waters if the greatest care is not exercised m its navigation. It may be said that we have at least three feet of water under our kool, and a question of six inches more or less is of no great consideration ; but tho colony is just m the position of a vessel m narrow, dangerous waters, and it requires the moat skilful navigator and the utmost caro to save it from disaster. If it is proponed that we should go on us vessels on this coast aeern lately to have b<:on m tho habit of doing, driving through the Straits on a dark night and m thick weather, and mistaking tho wrong sido for tho right, and striking land on the Wtiikantie Beach, and if any passenger on such a vessel who should suggest precautions being takon, such a» heaving the lead, donerve* fifty lashes for making auch a proposal — (This is an allusion to Mr Pyke's remark that " the man who uses the word ' depression ' for the next fifty jearj desorves fifty lashes.") — it would bo quito right to cay that any ono deserves a similar penalty for remarking on tho depression. But m it not somewhat childish to talk about tho harm dono by the expression of opinion m practical mottorn ? What business firm, what financial people m England, pay any attention to what ii snid u« to tho Jprospority or tho reverse of

the colony by the people who are interested ? They will look at facts, at the state of our consolidated loans, at the state of our markets, at what is produced m the colony, and will not care much whether politicians or others talk of it as prosperous or depressed. We want to make our markets, to manage our affairs m a businesslike way, so as to be able to make tho best of thingß no matter what happens. Talking is of very little conseqHcnce; action ia of the utmost.