WELLINGTON NOTES.

Ashburton Guardian, Volume XXXV, Issue 8303, 23 November 1915, Page 5

WELLINGTON NOTES.

tfFrom Chir 'Own Correspondent.)

WELLINGTON, November 22. Cost of Living Act. The appointment of the three salaried member sof the Board of Trade, under the Cost of Living Act of last •session, is still delayed. The., applications, which aro undrostood to number JkWtt^thing like 200, are in the hands oi f^he Minister for Industries and Comttierce (Right Hon. "W. F. Mnssey), ;T>iit apparently tho Minister is finding difficulty in making the preliminary selection before Cabinet makes, the final choice. The matter did not come before to-day's Cabinet meeting (Monday)- War Loan. The Minister of Financo (Right Hon. Sir Joseph Ward) is strongly of opinion that New Zealand should not try .to rais6 money locally for war purposes. At present the Imperial Government is Di-oviding for Now Zealand's requirements' at the rato of about £500,000 a month from the Imperial war loanß, •and Sir Joseph Ward urges, with obwious itruth, that tho financial position in this country would become difficult if the Government asked local capitalists to find this money even for one" year. Rates of interest would rise aid •investments in ordinary enterprises would be seriously curtailed. But •"ho Minister doubtless realises that if the war proceeds far into tho coming year •this question of local borrowing for war purposes will have to be faced. The statesmen of tho. Motherland have stated plainly thai thoir own-■financial, is bevomir.a swiouK, It :s tu> miiob to export that they .will oqni my; 'indefinitely to carry New Zealand's burden. I ' ■ Mow Lonii ? How Jong in the war #>iug to last? Nobody can say with fOJ-t.-i.inty, I:ir& it ' -in a-fact .that tho, .persons in this country who ought to lie Uio l»t\s.t inl-ornc-.d" '.regarding tlK> actual position are tl<e im'okt optimistic. Your eorresp .adept •was iold the other day in con«ide;it tones by a man who has very siwcial Jirces of information that the »vr.r nild be ended in six months —co& cessarily 'by tho victory of the An <-s the fieia, but by the financial rolfse of the ononiy. That statef^nt was made a few days bcrforo the avn- al of the cablegram rrnorting Mr, lionar Law's utterance: "Ho was more hopeful now than he had boon for many •months. Things wero not going as badly as they seemed." The Germans li.avo postponed their next war loan till February, and in the meantime they are maintainina; a wonderful biit fr-vnle structure of paper money and rredit It would he intorostinjr to 1-now if Mr Bonar Law, whose attitude of mind nsuallv is rather pessimistic, was thinking of Gorman finance when lie spoke-