The Gisborne Times PUBLISHED EVERY MORNING. SATURDAY, JANUARY 2, 1909. THE SECRET HOARDS.

Gisborne Times, Volume XXVII, Issue 2389, 2 January 1909, Page 4

The Gisborne Times PUBLISHED EVERY MORNING. SATURDAY, JANUARY 2,1909. THE SECRET HOARDS.

A good deal of comment has been caused by a letter which Sir Ernest Cable recently wrote to the “London Times,” on the subject of East India’s secret hoards. letter, Sir Ernest estimates that the annual hoarding is not less than eleven millions sterling, and that tlio total sum which has thus been, taken from commerce in the course of the ages must be at least £300,000,000. Yet we know not, why the statement should have surprised anybody at all familiar with this feature of Indian life; lor it has long been an economic truism that gold which goes to India returns not to the markets of the West. It is not racial instinct alone that makes the inhabitants of the Peninsula hide away a large part of their wealth. For countless centuries, spoliation was the rule, in war and in peace. Indeed, it would be difficult to say whether tho approach of a hostile army or the footfall of tho native taxgathercr was the more feared. The basic conditions of our finance were consequently impossible from the Himalayas to the sea. In tho treasure-room of the palace, as beneath the hearthstone of the hovel, vast sums have been kept, in the shapo of coin or of jewels. Every noAv and again, as in the daj's of Hastings and Clive, some inkling of the truth has been had ; but the revelations have just sufficed to stir the fancy and set the theoretical statisticians at work. India is, slowly but surely, emerging from this primitive phase. British rule, despite all its defects, has at least assured prince and ryot that they will not endanger the principal in the' effort to get interest. It is not in India alone that this result of excessive caution has been c,cen. In fixing the amount of the historic indemnity, Bismarck thought to crush France for decades; but the great Chancellor forgot to take the country’s secret reserves into account. From the Channel to the Pyrenees. an army of peasants, artisans, and shopkeepers came forward with hard cash which had long lain in armoirs and stockings. Thus it happened that the huge ransom avas quickly paid, Avitliout disturbing general business. London and Ncav York are noav in a SAveat, if a feAV millions of gold bo niOA’cd across the Atlantic. Imagine the.upheaval that Avould follotv, if tAvo or three hundred millions of the yelloAV metal should thus be taken from the American to- the British metropolis, or A r iee versa. Stocks a\ T ould collapse, rates of discount Avould rise to the prohibitive point, and the trading community AA'ould be pinched, as if a desolating Avar Avere in progress. As a matter of fact, the conception of credit is extremely modern. The Bank of England was founded, in order that England might float a loan Avliich dozens of priA r, ate houses would iioav float- Avitliout a qualm. Bonds and shares, though highly desirable as assets ill quiet times, are not convertible in a crisis, because everybody has to sell at once, and intending buyers are daunted by the offerings. Then gold alone is good, and, to bo effective,*' tho fresh gold must come from the secret pile, not from the vaults of tho banks. Bagehot has remarked that nothing but tlieir 'tremendous misfortunes could have made manifest the wealth of the Fi'ench. And "it is safe*to say that some similar disaster is needed to draav out the Indian hoards. Doubtless, tho construction of railways, canals, and other public utilities, guaranteed by the,public credit, will attract many lakhs of rupees; but many more lakhs will romain in' forms that stand the test of the fire.

Even in countries where banking is both a science and a habit, tlio tendency to hoard persists. It is, for example, .well known that an dssuo of paper currency avill ultimately sHoav a -considerable profit, simply because bills are lost, or are put aavay so carefully as to baffle tho. most strenuous search. This vague fear is a factor which statesmen may minimise, but can not eliminate. In the millennium, the hidden- talent Avill be a mere memory ; blit meanwhile avo must not too muck lament the human weakness which is sometimes the strength of. tho State. The individual rejoices when he finds iii the pocket of an old coat the little roll which ho would have made haste to spend in His prodigal hours, and a people will like Avis© rejoice in the unsuspected possession of the buried mass Avhich had been quite as dead to commorco as is the ore in the mine.

Mr J. W. Witty, Secretary of the Gisborne Harbor Board, is to leave to-day. on a visit to Rotorua. The Gisborne Rifles avill jparade at flic Kaiti range at 9.30 o’clock this morning, to take part in a day parade and shooting match. ■, - .

The following'' passengers- arrived in to\vn yesterday by Messrs J. R. Redstone and Sons’ coaches: —From Opoiti, Mrs- and Miss Mayo; from Tiniroto, Mr Campbell; from Te Ttoinga, Mr Pearson; from Hanga•roa,. Mr Davgii. Tlie picnic of the Star of Gisborne Lodge*. 1.0.0. F., avill be held at Kaitaratahi to-day. A special train is to leave toavn at- 10 a.m.,-returning at 5.30 ri.m. The return fare, including admi sion to the ground, is 2s for adults and Is for children. The s-oradcp at Wesley Church to-

morrow Avill be conducted by Rev. C. Griffin, morning and evening. The subjects are, “Be strong and brave” and “Look where you are going.” There will lie communion at the evening service. The Young People’s Bible Glass meets in the afternoon. Neav Year services will bo held at the Baptist- Tabernacle to-morrow. Tho Rev. W. Lamb will preach at 11 on “Divine Direction,” and in the .evening at 7 on “Ideals and Aspirations for the Ncav Year.”' At 7.50 the choir and orchestra will render anthems, and during the evening a solo and anthem Avail be sung. Tho quarterly communion Avill be observed at St. Andrew’s Church tomorroAV morning. Members arc reminded that, owing to tile-holidays, it is probable tlio elders Avill not- have time to distribute the communion cards. In the evening the Ilev. W. Grant avill continue his addresses to men, the subject being, “Counting tlie Cost.” These addresses, like the first series, are arousing a- good deal of interest, and attracting large congregations. An example Avhich might well he foJJoAved lias been set by a number of ladies and gentlemen in Whangarei. They have established a fund for proadding prizes for the best -gardens planted and kept by children attending tavo local schools. Tlie scheme is proving a great success. The boys and girls take-an immense interest in tlieir little plots, and most of them are said to groiv flmvers and vegetables quite equal to those produced by adult amateur gardeners. Hot AA-ater is a far more Valuable

medical property than many persons realise. Its uses are many. For example, there is nothing that so promptly cuts short congestion- of the lungs, sore throat, or rheumatism, as hot avater promptly applied. A strip of flannel folded lengthwise and dipped in hot avater and applied around the neck of a child that- has croup, avill sometimes bring relief. Hot water taken freely half an hour

before bedtime is helpful in cases of constipation. A glass avill cure indigestion, and no such simple remedy is more avidely recommended by physicians to dyspeptics. We learn from Waikaremoana (says tlie Wairoa “Mail”) that fine weather is uoav being experienced there, and the visitors are enjoying the beauties of the Lake district. Dr. Scott- and Miss Scott, having fullv recoa-ered from their eventful trip, left on Monday for Rotorua by the bush track via Te Wliaiti and Galatea, ovit-li a good liath'e guide. Air. C. Biddle and son arrived at Lake House the same day, accompanied by a guide. They report tlie track not at- all. bad. With the change of weather .visitors are begin-

ning to arrive. The inmates of the Old Peoole’s Home AA J ere not forgotten by certain kindly folk of Gisborne at the New Year. Mr. D. J. Barry sent- them the materials for a substantial New Year’s Da.y dinner—a roast of beef, a pair of foAads.. plum pudding, and an ample supply of “soft” drinks. Mrs. J. Maynard sent the old people a Christmas pudding, and Mr. J. McFarlane ga\ r e them a large basket of cherry plums. The recipients of all these gifts avere greatly phased thereby, and avish to return hearty thanks to the donors.

In tlie cable intelligence published this morning will be found further horrifying details of tlie 'fearful catastrophe which has befallen Southern Italy and Sicily. The number of -persons killed is noav estimated at- the almost incredible total of 200,000, an aggregate equal to onefifth of the population of this Do-

>ninion. Measures, for the relief of the survivors have been taken in several parts of the AAOrld, including Australia, but. so far there is no avord of any relief 'fund or other practical assistance having been originated in Neav Zealand. Wild Friday and Wild .Rose are the names of a man and AAOman lately performing at the National Amphitheatre, Sydney. The girl stands -with her hack to a large board, and Friday, stepping back a feav yards, throAA's boAvie knives till he hems her

in right up to tho neek. The knives strike the AA-ood taa r o or three indies

from tlie girl’s ..throat, and 1 she 'neither winks or blinks. Friday then does some bull’s-eye throwing blindfolded, the knives entering the wood in .a bunch. The last -phase of the turn is not, pleasant to look upon. The girl stands with her back to the board, and is covered with a sheet of paper fastened to the wood by •drawing pins. Friday then toes the mark with his eyes bandaged, and cuts her out, guided only by sound. The possibilities of a tragedy, / however, are so apparent, that one doubts the propriety of such a performance being allowed. Wo have- to record the addition of -another watchmaker' and 1 ; jeweller in our town in the person df Mr. Anthony Rodgers* who has - commenced business next door to Mr. W. Lissant Clayton’s, Lowe Street. Mr. Rodgers lias had a wide experience in this connection, having served for many years with the well-known firm of G. and T Young, and for the past eighteen months with Mr. R. T. Seymour. Mr Rodgers is confining his business solely to repairs- for the present, therefore patrons can rely upon-having work promptly executed, and.as no apprentices are employed the work passes into experienced hands only.* Mr. E. G. A. Reynolds advertises -for two'cabinet-malvcrs or good join.AVhen ail acknowledged humorist like Mark Twain in his -reminiscences remarks that on reading a well-known, book of medicine ho imagined lie was suffering from every disease mentioned except liousomaid’s knee, no excuse will be necessary for housemaid's gloves for thirteen - pence each this week at Parnells’ Popular Saturday Sales, New. Year’s Eve, instead of Saturday.

Yesterday 'evening Major Holdaway of the .Salvation Army, held 4 co ““ oil of the officers the To-day ' “opener •veL^-’of' d the Gisborne' corgs Kto b^%lfMdTtTinru n a.m., Kt»d Vto'ieS onTnS iSoXg&i uary 10- . ■ x \r r The Salvation Army picnic at 31 rameron’s paddock, Bushmere, yeeSrday was u decidedly pleasant outing. Almost three hundred P?^P attended it, being conveyed thither by vehicles of many sorts and sizes. They spent an enjoyable. tunc with sport* and games of'Various kinds The Army Band added to the general pleasure by its admirable playing.- Mr Cameron gave a tank full of water to quench the thirst of the picnickers, and the Army authorities, utlisingthe lift, provided hot water free of charge. In the afternoon a service was conducted by Major Ho.daway, assisted by Adjutant Dickens A collection was made_ in aid of the Children’s Home at "Wellington, and the public responded liberally to the appeal to their generosity. Modern Atlantic liners with their reputation as floating hotels, have ilong since had their own musicians whoso duty it is to play cheerful aus during dinner-time. But, writes an English paper, it is not every liner, which, like the Carmama, can boast of a trained choir as well as an orchestra. In this case, the choir consists of eighteen voices, and is recrui - ed from stewards, stewardesses, and the attendant boys.. At dinner-time its members are stationed on the balcony of the main saloon, and glees and part-songs are rendered, to the accompaniment of the band. Second and third class, as well as first cabin passengers, share the advantages of the Carmania’s musical equipment. Concerts are held of an evening, and on Sundays a full choral service is possible. A donation of £5 to the funds of the Wellington Acclimatisation Siciety has been made by Captain Lyon, A.D.C., to the Governor, who also addressed the following note to the chairman of the Society:—“On leaving New Zealand I should like to send you a small donation for the Wellington Acclimatisation Society as a slight return for the really fine sport which I have had on various rivers during the last year and a half. I am certain that the average visitor to New Zealand, and also the local fisherman, sometimes is only too willing to take his sport for granted, and considers he has a right to complain if he does not make large baskets upon paying his £1 fishing license. This seems all the more extraordinary when one remembers the large sums which people in England are willing to pay for the right to fish for a mile on one river only. I know that £75 is paid on the Rennet, in Hampshire, for on© rod only. If people realised out here that they owed all their sport to societies such as yours, I feel sure the acclimatisation societies would never be short of funds. I know that I have appreciated the privilege of fishing anywhere I pleased for practically nothing and. I shall look forward to some day returning and trying my luck again.”