OUR SYDNEY LETTER.

Gisborne Standard and Cook County Gazette, Volume II, Issue 262, 19 February 1889, Page 3

OUR SYDNEY LETTER.

(from oub own cobrespondent.')

Sydsby, Feb. 6. The election ia developing into a remarkably close and exciting straggle. At the time I write, 40 Protectionists have been elected against 39 Freetraders. The next batch of returns will come in next Saturday, and, it is almost certain, will show a majority for Free Trade. On the other hand, the next batch, most of which will come in on the Saturday following, should show preponderance of Protectionists. One thing seems certain. Neither side will have a working majority. Protectionists will not be able to erect their iron wall. Free Traders will be impotent to repeal the duties which already exist, and under which many industries are thriving and prosperous. Perhaps this is the best thing, from a fiscal point of view, that could possibly happen. Unreasoning, undisorimina'.ing Free Trade, furnishing as it does au excuse to indolent politicians for neglecting the industries which are the real strength of the community, is a national disaster, and, sooner or later, must . evoke universal condemnation. On the other hand, unreasoning, undiscriminating Protection, with its harassing and oppressive restrictions is a disgrace to freedom and civilisation. The ardent partisans on both sides refuse to see these things. But the great mass of the public, which is not ardently partisan, which desires peace snd prosperity, is certain to see them sooner or later. It will demand that the duties which are levied through the Custom House shall be intelligently adjusted, not the mere haphazard result of a life-and-death struggle. -4t will demand that those i who put themselves forward as statesmen hr" shall make the public weal their first conw sideration rathdr than the victory of a party cry. The voting hitherto shows a distinct tor the Protection cause. But this, think, is rather a protest against the callousness, which, under the plea of ** Free Trade at any price," has so shamefully neglected its opportunities. Men vote for Protection, in despair of getting any justice from that which styles itself Free Trade. The latter party has only to repent of its errors, and bestir itself in earnest to remove the obstacles which hinder the advent of pros, parity, and it will win back a good deal of its old support, lam afraid, however, that there is no hope of this. There is no fool like an old fool, and the Free Trade party of to-day shows all the marks of unhonored senility. Arrogant dogmatism, abusive petulance, and in many cases sinister treachery and deeply calculated hypocrisy are patent on the surface to any one who oan read the signs of the times.

A glance at the doings of some of the leading champions amply substantiates this view. Take the Freetrade metropolitan press for example. They resolutely ignore the lesson of the votes cast, and claim a victory for Freetrade in face of the fact that the new Parliament, with only half its members elected, contains already nearly as many Protectionists as that which preceded it; in face of the fact that there has been a direct gain in seats aud that the Protectionist vote cast in nearly every contest shows an advance of hundreds, in some cases of thousands, of votes. Then, again, whilst they claim the results of the election, so far, and victory for Freetrade, tome of them are using their utmost endeavors to make the sttuggle a sectarian one. One would imagine that a journal which devoted itself to the sad work of hounding one section of the community against another on religious grounds, would also claim the victory on religious grounds, when it was gained. Indirectly, of course, this double-dealing, two-faced procedure Shows the weakness of the cause which requires such buttressing. Unfortunately, however, large numbers never look below the surface, or dream of comparing one • utterance with another. They go to vote at the bidding of the seotirion mouth, and when all is over they exult or lament with the political month. The utterances of the speakers are also instractive. Look at Sir Henry Parkes’ taking lofty ground over Mr Barton, on the subject of elocutionary ethics. The ex- ; Speaker, said Sir Henry, “lowered himself ’’ by alluding to the Freetrade party as “ Calico Jemmies." Well, no doubt he did, but I question whether any cne but a purist of the Parkesian type would exact from an antagonist absolute perfection of word and act in the heat and dust of political strife. But the insincerity of the accusation becomes apparent when we come to compare the conduct of the accuser with the standard which he himself has set up. Sir Henry himself ia one of most abusive platform speakers in the country. Speaking at Parramatta the other day, for instance, he likened the three Protectionist members of South Sydney to ° three barrels of Toohey’s beer.” What can be thought of a man who habitually raves in this manner, and then when it suits him, puts on a sanctimonious aspect to rebuke an opponent ? That which in him is ‘“but a choleric word ” in another unfortunate offender is “rank blasphemy.” Of course the other side are not immaculate. But, hitherto, they have been the weaker party fighting for a recognition which has been denied them, and except where the issues are obscured by the heat of party zeal, they pannot to obtain a good deal of sympathy. Mr Pibbs and his colleagues decided to pay the salaries of the Civil Servants on the first of the month, notwithstanding»the fact that, as they were refused supply, the money had not been voted by Parliament. It was an unconstitutional and dangerous thing to do, and will probably be the pretext of the first attack on the new Ministry. If |t should prove to be so, the character of the

present opposition will be consistently maintained. First they refuse supply, rendering impossible for the Ministry to meet state in a constitutional way. Then, the mouth of Mr G. H. Reid, they adjure the premier to disregard the constitution and pay the salaries without supply. And, if finally, they should, by the mouth of Sir Henry Barkes, endeavor to oust their op. amenta for walking into the trap so sedulously laid for them, it will be no more than ia to be expected from previous records. Sir Henry boasts, in that courtly dictation of which he claima the monopoly for himself, that in three weeks’ time Mr Diubs will be “in the dirt.” Perhaps this is the snare by which he hopes to trip him up. Mining companies still claim more atten. iirtn they deserve. Many investors, smitten by the gambling spirit, bought shares in gigantic bubbles at inflated prices, fondly dreaming that they were to be made rich without further effort, and without rendering any equivalent in retnrn for their cheap and easily acquired wealth. Unfortunately, of the' mines that have been floated, scarcely onp has paid any return whatever for themoney actually spent in mining operations, which, in its turn, is but a fleabite to the nominal capital and to the price of shares as baaed upon it. At present there ia a very general desire to “ get out u of such investments even at a price which means ruinous loss. But, where nearly all are sellers and but few buyers thia is easier to wish for than to do. A good deal of attention has been paid to the Lewis Ponds silver mine, near Orange, At first it was floated with a tolerably modest capital. But a parcel of rich or? was raised UM yielded good returns, and the opportunity for inflation in the excitement which prevailed was too good to be lost. The commay was reconstituted on the basis of a £200,000 capital and ths shares in the new company commanded a high price. Ever since that time the shareholders have been waiting patiently expecting to see the mine tarn out In bulk ore equal to that which gave it the first notoriety. But their hopes lately have been dwindling, until the shares have dropped from seventeen or eighteen shillings _r" to five or six. The most persistent sellers * Were Melbourne, where also the head Office of the company is situated, and where, therefore, it was judged, the best information was obtainable. Sydney shareholders took alarm, and sent np an export, a Mr Du Bole. His report does mot lead to the expectation of fabulous riches. There is a good lode of gossan, also another, more difficult to treat, of sulphides, the latter being the permanent ore of the mine. This will average about 30oz of silver and a little gold to the ton. At the present rate of working there are about SOO days’ run of ore in sight, pretest jritu, the skata are aM« too eheap.