SIR JOSEPH WARD AND THE DOMINION'S CREDIT.

Wanganui Herald, Volume XXXXIII, Issue 12623, 20 November 1908, Page 4

SIR JOSEPH WARD AND THE DOMINION'S CREDIT.

Si'eaking at Aramoho last evening, Mr Hutchison said it was well-known that the fact of Sir Joseph Ward being in charge of the finances of the Dominion was not calculated to inspire any particular confidence in the minds of those in the City of London, who practically controlled the floating of the loans. Mr Hutchison went on to belittle Sir Joseph, suggesting that the "inana" of the late Mr Seddon was responsible for whatever benefits New Zealand received at Home. This belittling of the Premier scarcely accords with facts. For instance, no lesser paper than the great London Times, which Mr Hutchison will probably recognise, reflects the "minds of those in the City of London who practically control the floating of loans," congratulates Sir Joseph Ward on his securing another three years' effective tenure of power, and the congratulation of The Times is not to be lightly esteemed. If we remember aright, too, Sir Joseph Ward created a most favourable impression when at Home during the Premiers' Conference a year or two ago, and if we mistake not his utterances carried a3 much weight as the speeches of any other colonial representative at the Conference, where his statesmanlike, forcible and eloquent addresses were the theme of general admiration, even by those who did not see eye to eye with him. In the face of this, it ill becomes Mr Hutchison to attempt to discredit Sir Joseph Ward, and to infer that his being at the head of the Government did not improve New Zealand's financial standing in the Old Country. As a matter of fact, New Zealand stocks are as high as the stocks of any of the Australian colonies, and on the average higher than any but Victorian — and this on the eve of the election. We note that the latest quotations for Government securities, cabled from London a day or two ago, show that the stocks of the Dominion retain their premier position, and i.o doubt, iidw that Mie election is over, New Zealand securities, so far from falling as i>ue would imagine would be the result after reading Mr Hutchison'.-; spee?h at z\rs.moho last evening, will advance stil! higher.