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Waikato Times, Volume II, Issue 80, 2 November 1872, Page 2

UNKNOWN

Tjiiijfu is little news culling lor special attention in the telegraphic intelligence from Europe wo published in qui' la.-it issue. r lhe arrival of the news, with an interval of only seven days is, perhaps, the most striking. The most important tacts as regards tuis culony iwe that wool and flax retain tiieir present highly remunerative prices, aud tJiat the wiieat harvest ui England lias proved a failure.. The iirst two facts portend u period oi' prosperity ; the rise ol Id. per pound. m wool, or iM per ton in ilax brings a very large amount of money into the colony. The settlers m the sheep provinces, if the high prices ot tneir duel' product continue, will shortly be able to | release themselves from the iron grasp of fcno Banks and the money-lending merchants. They will then be enabled to employ labour for the improvement ol their stations ; new lite and energy will be instilled into them by the feeling that tiiey are once more lree

men, and that thev hold a dillerent position than that of shepherds over (iu nauie only) their own lauds and their own sheep. The failure el the harvest in England is good news for those oi our farmers who have- sown wheat. A bad harvest in England alfects the price of bread-stull's throughout tue Wi.olc world ; a partial failure of her crop necessitates liie importation of grain from almost every country; the price, in consequence, is raised. \\ e trust to lind that the exports of wheat from Jfew Zealand to the old count rv will, within the next lew years, grow into an extensive trade. We have an enormous quantity of land iu proportion to the population to subsist upon it, and we can see no reason why, with the aid of cooperation and improved machinery, we should not become one oi the largest wheat exporting countries. The German Empire has obtained for itself the reputation of being the first military nation in Europe. The telegraph conveys the intelligence that the lleitcf this Empire is about to m ;ke a voyage round tne world. When once the ambition ol a people is gratilied by success there is apparently no limit ro it . The ambition-of the German people-is likely fo.be a source of trouble to the civilised world j for some years to come. Germany is adding to her j tleet as rapidly a* possible, and, as was stated at the last sitting of her Parliament by one of her leading statesmen, she will not be satisfied till'she lias such a

fleet atloat as will entitle her to runt a* a first-class ! maritime power. A combination of the maritime j powers against England, if such an event shonhl ever j again take place, will be a much more serious affair | than in the days- of Kelson.. English diplomatists j must always play their cards so as in the event of: disturbance to have one or more of the maritime i powers ranged on. her-Bidei ! The National Bank is soon likely to bo established ; j we learn that a director and. the future manager hare ! left England. There is every reason, to believ.e that j the speculation will prove beneiicial to those who | have practically lent their money to the colonists of | New Zealand, and the colony by such a large addition j to its capital cannot fail 10 progress more rapidly than, j could otherwise be the ease. The rate of discount ! and that at which loans are procurable is unreasonably j liisrh. considering the low rate at which the money ; lent is obtained in the home mener market. |