Manawatu Standard (PUBLISHED DAILY.) The Oldest Daily Newspaper on the West Coast. SATURDAY, AUGUST 9, 1884. THE POLITICAL LEADER.

Manawatu Standard, Volume IV, Issue 218, 9 August 1884, Page 2

Manawatu Standard (PUBLISHED DAILY.) The Oldest Daily Newspaper on the West Coast. SATURDAY, AUGUST 9, 1884. THE POLITICAL LEADER.

'JThere seems to be some difficulty i» gating an acknowledged party leadei to undertake the duty of forming a Ministry. We Bineeye{y hope that wise counsels will prevail m that all-important decision* We

believe the country would feel safety m au Ohmoxd administration, but ■would deplore the accession to power of Sir Julius Yogel. New Zealand has had enough of his regime, and wants no repetition of itThere are indications now that a reaction is settling m, and that the great bulk of the people would prefer to see steady advancement rather than rapid, and. consequently ephemeral, prosperity. Borrowed money is all very well, if devoted to reproductive works, and if economically expended; but to borrow largely m order to have a brief period of good times, to be succeeded by the inevitable depression, is what no true colonist desires. The recent dark cloud of great depression is slowly — very slowly,passing away, and the faintest dawn of better times is just perceptible. But there must be no rash administration of public affairs, no plunging headlong into debt ; our onward progress must be by careful stages, unless a second, and possibly long-continued stagnation is to overtake this young colony, now struggling to rise superior to the burthen of its misfortunes. Julius Yogel is nothing if not a speculator, and we cannot afford to run the risk of sending him to the wheel. There are good men m the present Parliament,and the material of an good, honest, safe and substantial Ministry is there. But let us avoid the danger of further unlimited borrowing, lest some day our colony has to be branded with dishonour, and has inscribed on its escutcheon the dread word, " Repudiation." [As we go to press we learn by telegram that Sir Julius Yogel had a long interview with the Governor this morning and it is understood that he has accepted the task of forming a Government. He is now m consultation with Mr Stout.]