The Timaru Herald MONDAY, OCTOBER 19, 1908. MORE PRUDENT ADVICE.

Timaru Herald, Volume XIIIC, Issue 13728, 19 October 1908, Page 4

The Timaru Herald MONDAY, OCTOBER 19, 1908. MORE PRUDENT ADVICE.

The extended bunk returns which wo pub li.-hed on Saturday. ami the in:ervi?w \vilh > lt Timaru haiitcr .which uppers ek,t ' wliete in this issue. fit* inhht'onal imenlives in tin* prudent policy which has been advocated for mote than year pa--t bv the hetuii? ot tutv linunc-ial inuiiuiiniv. At '.he same tinv. M r t'osiello i* car-.ful to emphasise. there is no necessity to confound prudence with pau.v. 'lhinsja ar>- no' ax nxy ns they have been, there may Ik- fewer motor cms anil fewer tr'ps to Kngland. to (jtioto the banker s examples of Injuries which do much *n make life pleasant, hut which arc no" iiuiisp-usable to make it bearable. Ami ,-ven now, a comparison of prices with tlios,» rnlins; twelve montlw .is enougji to t ncourafjf a feeling of op'iniMn. lit spite of the fact thai the latest hanking leturns revt-al nn abnormal demand financial accoinmod.it : «m a <i- matid to which th" banks aie . videmly tispondint: in no niggardly or illiberal spirit. While everybody is fixing his upon the deelitK* in wool and flax, a commercial paper his! «e- l; <iim ted alt' iiiion li» tinhr'uhter side of tin- pictinc am! -how< d that for M'Vcral ot mir staph- export*. ValutH; al>- above those I a V. at" North Island mutton, fur instance, la«t u'eel. «:.» i|Ui.t.il ai /ibl per II) as T.g.l a'- the i,ame dab- Jam year; ('ati'nr bury lamb, fi.Ul against 5,Jd ; NVw Xe-fi-land hi * f. binds 3?d again-i 3jjd, lutes ajjainsr 2.Jd. whil>- both hntter and 1 hi-t-se ai" worth considerably innr* than 1 hey were inch-- months a '.ol, Ihtddes 11c s.. line-, wlfai remains as a very payable 1-vel. and with tli'- favourable . .•••.n and .hi* increased ana put ttmVr i 1 up, the haivcsi 1 ■iiiiple.xioii on the banking returns before many months arc over. With the ex • •Ih-nt lambing fetnm, ihai are reporifd fiimi all parts of the distrct. Soilth Cutlteibtiry cannot lan to emerge from this p-iioil of whu a loni'Mun <>( rtuatkaliie |.io*p.ri!y has caused everyone lo regard a-1 a ti'- of dt|in".-inn, with i's I'manee* in a sound < condition. Huf it i* 1,, Mint: ; lie fad that m-it.hi-r this i:i*ri;ci imr ilie tummy a * a '.rmilc ran i.irry nn the rat.- of expendi'tut thailii. b -en nia lit anted tin- llnit-s • if Summing priii'i, '1 he bunks and pri vat«- pcuple have bin realism}; thai fact, bur the I i'n\ernttirnl so far t< lUm io re <«1 -j 11 i- - . and th - time when lb* national nit nine i-- < <iu.ideral>lv ledmed i' i;h»>»-ti by Sir .)<i-"ph Wani a,, the tune for put alinllt'T bHit'er i*f o \l' iitrce ntilbotl»i fti the ciiuntry a 1 it.* of borKiir inj: jnr a p.itaiw tu whu'h »<: hav>- '<■ -<i bul, to the |.iLlc*« dav> ot Sir .Julm* \'m'. I, wi,-n l.uid values, a-, Mr Com- ||o r.mind . nv. «ort- wnt up t<i a poin; iai ab«.\ •• M lia! they art- !n<i.iy Any »;.ne iii.'ii know ■> liia*. tfii-- awful i<t b>*r n>w in;» canti.i'- l.> -1, ially a-- in mncli I,' 1 1- I• • r iii'..'nil ItiKutu'* I t- tli-* jn..I.<i-i iiivi I'.tltaa ot building-', tin \ . i.nit-n: bu ai;>t t li»vc:mo :-. td ■ll ,n W.lbi,—ll anyt 1 si) 1 ii 31.111 half a million uj; , a ti «' b. h 1:,.!., lit J.;-: 1 '"". li<-" llcttoll ,t : - j; h ■: ..1,.! ... r-ii All • !.t <• tliiti,;~r \ -t» tui f 1; i< 1 ..r.trry i-iui ! at!-.id

them, but -they do not add a jpeimy piece io the earning pnwor of the colony. At t he. present m age of our development, it ■would !>«> far bettor to sjiend whatever money is borrowed on roading and bridging new bind.--, so as to bring (Item into profitable cul:ivat~on, instead of erecting .palatini buildings which. aftvr all. ir would not bun v« to wait for until we {ret m.ae finnly as a nation, and less dependent upon the moneylender in London to whom Sir Jravph has jinr applied for a million on bills wiih a currency of only a year. Mr Hardy has Ikvh directing attention 10 the neglect of roads aiul bridges—the necessities—and ib«> excessive expenditure on public buildings—ill* luxuries—and we shall presently return to the subject to r-how how tu-> <-:nlv policy of the Liberals Ir.tu lieen thrown aside hv an -exmivagant and osteu'aiious '■• i of spendthrifts.