AGRICULTURAL CREDIT.—DAVIDSON. 483 
yet the usual way is to regard a government as an external 
benefactor who favours us, or our district, at the expense of 
others. It is true that it is our own money that constructs our 
roads and our bridges, builds our railways and executes our pub- 
lic work, yet when some protesting writer or some opposition 
candidate points this very fact out to us, we feel instantly that 
he is talking not of things as they are. As a matter of fact, we 
do not regard government aid as a highly organised form of self- 
help, but rather as a highly organised form of helping ourselves 
at the general expense. And it is not well that we should come 
to look too much for government aid in the management of our 
business. There is already too much reliance upon government 
and too little individual initiative. There are, for instance, too 
many men wasting time looking for government jobs, and too 
many people who think that five dollars of government money 
is worth ten dollars offered by any one else. There is some dan- 
ger to national character in too great a reliance upon government 
assistance. 
Nor can we regard the resources of a government as illimit- 
able. A state can borrow cheaply because it borrows moder- 
ately and with discretion. It is true that a government may 
borrow at three per cent. or a little more, while the private 
borrower has to pay six or a little more. Why should not the 
government of Canada or the government of New Brunswick 
lend again to the farmer? For the very good reason that, if it 
did to any extent, it would not long be able to borrow at three 
per cent. and the whole community would be burdened. New 
Zealand’s experience is not quite conclusive, because it has not 
continued long enough. We have had in our history some 
experience of lending the state’s credit. The legislature of 
Canada passed in 1849 a guarantee act, guaranteeing the interest 
on railway bonds, as Manitoba is doing to-day, and the result 
was that the credit of the colony was quick to show the effects, 
and the guarantee system had to be withdrawn. New Zealand, 
during the first depression of trade, may have an even more 
disastrous experience. 
