Wairarapa Standard Published Tri-weekly, Price 1d. MONDAY, JUNE 29, 1885. The Present Depression.

Wairarapa Standard, Volume XVIII, Issue 1700, 29 June 1885, Page 2

Wairarapa Standard Published Tri-weekly, Price Id. MONDAY, JUNE 29, 1885. The Present Depression.

Major Atkinson, while the House was in Committeeof Supply, “warmed” the Government for their false promises to the country during the recess. It had been said that there wore satisfactory signs of the depression passing away, but the Major said he should like to put the Colonial Trea surer into the witness box and examine him as to his own district. He should have uo objection to put the Colonial Treasurer in the box, because that gentleman, if he knew anything about it, would have to confess that the depression was not passing away. There were uo signs of The depression passing away—it was mockery to tell the country that tbere were. All thinking meu must say, by reading the Financial Statement, tha't there were signs the other way, and if the Statement was accepted the depression would bo worse than it had ever been. To take one or two districts was not a fair criterion, and he asked the House not to believe for one moment that the depression was passing away, or to trust the hon gentlemen opposite to relieve them. He would like the House to look at the expenditure of last year, and what it was likely to be. In 18S4 it was under the twelve clauses of the Estimates, £2,027,000 ; in 18S5, £2,120,000 ; and in ISBO they were asked to spend £50,000 more. That was judging by the Estimates; and instead of asking for a decrease of £BO,OOO, the Government asked for an increase. Sir Julius Yogel in reply said it was his opinion, and the opinion of others who were able to judge, that the depression at present was very different to any that had prevailed before. Last year, as he had stated, the difficulty was not the want of money, but an entire want of confidence that caused the depression, The period, he might say, now was a very anxious one, and an unquestionable indication of that was found in that during the last five quarters that the late Government held office, there was a continual withdrawal from the Post Office Savings Bank. Since the present Government took office, however, there had been a constant excess of deposits over withdrawals, and in two mouths of the present quarter the excess had been £24,000. The colony was in an energetic condition compared to what it was twelve months ago. Although there was a deal of hardship in the colony, we were in a more industrious and energetic position than we had been in for years, and more than any other colony.