Queensland's Rocky Road.

Press, Volume LV, Issue 16694, 1 December 1919, Page 6

Queensland's Rocky Road.

Tlio Premier of Queensland has announced that tho State has a rocky road ahead of it. Under all tho circumstances, tho statement is not unduly pessimistic. Tho situation would be bad enough if the only difficulties that had to be surmounted were represented by tho million and a half sterling that sopnrates tho expected revenue from tho anticipated expenditure, especially as in theso days Queensland's revenue has a habit of falling short of expectations, while tho expenditure usually goes quito tho other way. But tho State conch which Mr Ityan has been driving downhill'with such choorful recklessness for four years past is carrying the dead weight of his unprofitnblo enterprises, and a bnrden of debt which would have been heavier if he had been able to borrow more money. What Queensland's plight would havo been if the war had not prevented Mr Ityan borrowing abroad, one docs not care to think. Even as it was, his loans averaged nearly £2,500,000 a year. In spite of this, he managed to show threo .successive deficits, amounting in all to over £800,000, though his predecessors for eight years had achieved surpluses. Incidentally, Mr Ryan, adopting what is usually tho last resourco of spendthrift families, suspended tho payments into the public debt sinking fund. His financial administration would have been wholly grotesque if it had not contained an element of tragedy. Ho seomod to touch nothing without losing money on it—from tho State railways, on which the annual loss rose in four years from half a million to a million and a-half, to the State trawler (on which £2226 was spent in securing fish which sold for £136), and tho State public-houso. Last year money was being borrowed at rather more than 5} per cent, for tho purposo of building railways which earned barely $ per i cent. The State enterprises in Queensland afford an object lesson of which wo trust the New Zealand electors, who are being invited to vote for two parties in favour of nationalising industries, will take notice. The Government bought np twenty-nine sheep and cattle stations, and managed them on its own account, paving for thorn in | bonds at 41 per cent, interest. According to tho "Bulletin," it did not supply the State butcheries from these stations—their supplies came from tho stock commandeered at less than export price from private stations—"but sold " tho meat at the best profiteering " pricee." In spite of this, twelve of the station* last year wer* -vorked at

; a heavy loy.. which was not equalised ' by the profit on the others, so that a loss ws sustained on the whole twentynine. Also. although tho State ' itchers' tliops got their meat as •described, they did not meet expanses, i for the £'20.000 cxccs3 of sales over ■ purchases "could not possib'y pay in- | " tercet on the capital invested. ' It is little wonder that tho £tatc taxes per head rose from 2 c s in the vear in ! which Mr Ryan's term of misgoverni ment hegan. to Pd this vear. when ihe decided that his talents required a j wider sphere, and is now inviting the Commonwealth elertors to place him in i the Prime Minister's chair, leaving his successor in Queensland to get that Mate out of its troubles a- best he may. The A. udit T-Oeneral's report has been piibhsho-l nt a rather awkward moment for Mr Ryan, and for thoso ardent ■ admirers and advocates of State cni ternri-e v.ho support the wild-rat i =:-hemi's -]:etched so by Sir J Joseph AVard and Mr H. K. Holland, j Q'.'censiand may yet. i:!:c tiie drunken j lulot. s;tv,> a useful purpose I Iby making Australia and Xew j | Zealand have nothing to do with I I nationalisation. I