OUR SYDNEY LETTER. (FROM OUR OWN CORRESPONDENT.)

Waikato Times, Volume XXXV, Issue 2826, 23 August 1890, Page 6 (Supplement)

OUR SYDNEY LETTER. (FROM OUR OWN CORRESPONDENT.)

Sydney, July 23. The interruption of cable news for a few days has rividly impressed on the news-paper-reading and commercial portion of the community the immense value of telegraphic communication with the more ancient portion of the civilised world. Numbers of interesting topics on which some instalment of light was being shed daily were suddenly shut off into darkness. Commercial men, suddenly deprived of their connection with their correspondents, were afraid to make any important purchases, or entor into any momentous transactions. Yet they wero not very grateful for the cable while they had it. The fact is that they had got so used to it that they took it as a matter of course, just as we regard the daily rising of the sun. By a curious porversion of the mind, wo convert the constancy and regularity of a benefit—factors which add immensely to its beuefioieut power— into excuses for ungratitude. However, the commercial world had a tangible gorund for complaint in the exorbitant charges which are levied for cable messages, and which aro practically prohibitory against all but wealthy firms. A movement is. on foot to induce the cable company to reduce their charges by something like 75 per cent. This, if effected, will enable the newspapers to give three times as much cable news as they do now for the same money, and in a corresponding degree will facilitate the use of the cable by the general public. When communication was resumed it was seen that the courso of events had revealed some exciting features. The annoying Newfoundland difficulty continues to plague England and France, and it is now thought that tho former will purchase peace with Nova Scotia by " buying off" tho pertinacious Gaul. Tho situation, however, is very strained. Shots have been fired, and it is evident that nothing but the sternest restriction not to take offence prevents an open rupturo between the two great Powers. The spread-eagleism also of Secretary Blaine, in referenco to tho Western fisheries in Behring's sea, is causing trouble, and it is evident that many misunderstandings and jealousness lie in the way of the hoped-for union of English speaking people. To Australian dependent, as wo are, on tho East for our toa, our cornsacks, our woolpacks, our rice, spiccs and a host of other articles, tlio passage of the Amorican silver bill is a very momentous item, tending as it does to increaso the prico of all these articles by something like 5 per cent. They are all paid for in silver coin, and the silver bill (which has now become law) directs tho Government of the United States to buy silver at the rate of 4,500,000 dollars a month until tho prico of silver contained in a silvor dollar that is to say until tho prico of silver has been raised from 3s (id an ounce, at which it stood before this legislation was proposed, to something liko os an ounce. Already, I may say, it has risen to 4s 2M. But all Eastern goods aro paid for in silver currency and this sudden alteration of tho ratio of Bilver and gold values implies that that silver currency will have to bo paid for at a much higher price than heretofore. Formerly a sovereign would purchase, say, 1G rupees. In the future it will probably purchase only 12. It is evident therefore that many moro sovereigns will bo required to pay our eastern bills. Tho balanco of course, will be redressed as soon as the greater purchasing power of the rupee and dollar makes itself in their own country. But this, owing to their conservative habits of thought, will come about 3lo\vly. Indirectly, too, we in Australia are likely to be benefited by an advance in the price of wheat, which will be brought about by this silver legislation. Russin and India, next to America, are the most important wheat-producing countries in the world, and as both of them have a silver currency, the same causes which make tea and jute goods advance with us, will operate to bring about an advance iu wheat in the London | market—an advanoe which means, of course, an advance in Australia also. Our farmers are notoriously badly paid, and any change which gives them a fairer remuneration for their labour is to bo welcomed. The persistent wet weather with which the colony has been visited for the last twelve months, seems to have broken up at last,} and the genial Australian sunshine is once more streaming down upon us. Should the fine weather continue, a period of commercial activity will at onco be ushered in. Shearing and the pastoral harvest liavo beon delayed for a long time in some districts owing to tho impossibility of obtaining supplios and to the abnormally inclement weather which we have beon experiencing. As soon as preparations are resumed in earnest, an active demand for goods will be experienced which it is hoped will go far to atone for the inactivity of tho earlier portion of the year. Shearing itself is likely to be attended by a rovival of tho labour troubles which have now come to form so important o factor in all industrial movements. The Shearers' Union demand that tho squatterf shall employ nono but Union labour, and have declared that the Carriers', the Wharf Labourers' and tho Seamen's 1 Unions will unite with them to prevent any wool that has been shorn by nonUnionists from being shipped. The sympathies of the public, in the main, il may be safely stated, are with laboui rather than with capital, and the services i which Unionism havo rendered to tht I cause of the formor arc by no moans overj looked or underrated. But for all that, if capital has its duties it also has its rights, and if labour has its rights, thosi i rights havo also their limitations, whicl s in this case appoar to havo been rock, iessly over-passed. Such nn ultimatun t togother with tho terrorism by which i is sought to cnforce it, seems to bo ai . iniquitous and illegal dovico conceivcc I in tho restraint of trade, and a shamelos ; and tyrannical invasion of tho rights nnt r liberties of employers and employed. Th( 3 former aro dictated to as to tho men the] [ shall engage to do their work. The latte t are to bo coerced into joining tho union r This " union," it must bo furthor rcmem e bored, is mainly influenced by hot-headcc r and imprudent agitators, whoso head havo been turned by the position o unwonted power in which thoy find them solves, and who, in their wild dreams o " tho universal conquest of unionism, over look some of the most important factor in the problem which lies before them r Ono of the most vital of those is respoc " for individual freedom. When this i 1 trampled under foot, it is simply th ' exchange of one tyranny for anothert the tyranny of uncultured revolt in th y place of that calculating and fai ' seeing prudence which had at las 0 learned self-restraint. A eommunit 3 which tolerates such claims is dangei ously near to decadence, and on 3 which permits them to enter upon th 9 stago of actual conflict is in great dangc 3 of disastrous internal convulsion. Wha ' is now required from the Executive is th ■' faculty of governing—fairly and justlj 8 but still wisely, and with foresight c • possible and probable consequences. Bi; 0 this is just the faculty in which moder :l ' methods which depend for their mair spring on the adroit flattery of Kin Demos are most woefully deficient. Ou n Government can got on remarkably wel 10 as long ai they aro not called upon t govern. When thoy are, their incoir t . petenco and want of adequate baekin « become conspicuous. ,r Politically matters remain very quie In an equally divided Houso a loan ex )f pcndituKi covering some fourteen c k fifteen millions of money has been almc! d unanimously agreed to. Yot this wi . y pledge tho borrowing capacity of th J country (if its operations are to bo eoi: :r fiued within tho bounds of patriot! '■ prudence) for the next four or fivo yeai nt least, and during that peric is will prevent the inception of an other public works of importanei ■' Kvery member seems to seek expend lure in his own electorate, and i

Drder to obtain it tho majority make no scruple in aiding other members to obtiin expenditure in theirs. Thus it comes to pass that prudence and economy are E altogether lost sight of. In a few weeks I the Assembly has deliberately mortgaged c the resources of the colony for as many 1 years. It has ignored the rights of its c successors, and has endorsed a loan ( expenditure which is plainly about three times as large as can safely be entered j upon. Thus does " collective wisdom," ] when it embarks upon the seductive I streams of log-rolling, become self-con- i fessed and patent collective folly. And the worst of it is that the people, who see the folly, do not renounce it as they ought. Some of them think it will last their time ; others fiud it so hard to live that they welcome anything, however ill-judged, which promises to create a diversion. Yet others, who are the worst of all, expect to fiud their own account in the expenditure. It is a mad world, my masters !