PENHI POSTAGE. So essential do we consider that no revenue should be parted with at the present moment, that we have fvTP poned reducing the postage. I may be allowed before conoluding to refer to the alleged

DEPARTUBK OF CAPITAL iron) the Colony. It is diffioult to ob tain accurate data reßpeoting the raovemeula of private capital, and I shall not venture to indulge in guesses, There is no reason, however, to sup pose that there was any unusual flow ofcapital either out or into the Colony, and 1 have found no evidence of the rate of interest increas ing. At one time I thought the agents of foreign loan companies had formed a syndicate to decry the credit of the Colony in order to raise the rate of interest, but it was the result of selfishness at the prospect of a little taxation maintained later on by some genuine alarm at the conse quences which it was stated would ensue, From what Ihaveeaidbnthis question I desire that it may be under stood that the only safe policy for the Colony is one of self reliance, one which fosters oolonial enterprise creates a colonising spirit, which recognises that the capitalist, equally with the laborer, must be identified with the progreßa of N.Z. The Par liament of N.Z. has shown it prefers the interests of the people it represents and 1 cannot believe it will retire humiliated and beaten before the menaces of a sordid self-interest which resides outside the sphere of its dominion, CONCLUSION. In conclusion, I have noticed at some length the policy of self-reliance on which m have entered and it will be unnecessary to do more than re mind you of tho state of affairs from which we are trying to emerge, and of the opinions entertained of the Colony in the capital ot the Empire. 