AN INTERESTING SPEECH.

Dominion, Volume 3, Issue 638, 15 October 1909, Page 6

AN INTERESTING SPEECH.

: The, PniME Minister stirred tho A'd-dross-in-Rcply'dobato into how lifo last evening when ho .delivered a flghtjng spoccli in reply to his critics in and ont of Parliament. Several of- the matters c6yered;by Sir Joseph Ward were productive .'ofr.intorcating pronouncements,-and especially was this thecaßfl-in-'regardto

the land question. We' must compliment the head of the Government on his straight-out declaration that this all-im-portant issue will be decided during the present session of Parliament. Cortainly wo heard somothing of the same kind from Ministers in 1006 when tho thon Minister o'f Lands'declared that the Government would stand or fall by the leasehold. The backdown of Ministers on that occasion is still fresh in tho minds of most people. On tho present occasion, however, wo are inclined to belicvo that the Prime Minister has made up his mind to face tbo situation. It is not likely that any heroic courso.will be followed. The probability is- that Ministers will endeavour to compromise on tho optional system and " save their face " as to the'-leasehold policy by retaining tho notional endowments under the leasehold restriction. This, howovcr, is moire speculation, and whatever happens it is certain that means will be taken to secure a straight-out vote on the direct issue: Freehold v. Leasehold. So much has been said and written.in various quarters of lato concerning tho surprising silence of. the Government on the Land Question that tho Prime Minister's reference , to the subject is doubly welcome. ■' '...-.

Dealing with the finances of the country Sir Joseph Ward made the most of tho favourable points in tb.6 balance-sheet for the half-year. An understanding of : a financial situation is not improved however, by an, abundance of rhetoric and ■ the Prime Minister's references. to t~e millions to, credit in the public account at tho end of Soptcmber are liable to puzzle and confuse tbo reader. The plain statement of the position disclosed by ,tho consolidated fund account is as follows :—

I•■•' ■' ■..■■'■■ • ■: :■■■!,:£.■ ■■. Cr. Balance as September 30 ... ' • 59,380 Revenue for six. months 3,885,382 Expenditure for six months ... 3,990,323 Cr. Balance at September 30 : 59,380 . In other words tho expenditure for tho half-year exceeded the actual.receipts by £124,941,- and reducod the credit balanco from £184,321 to £59,380.- The situation, however, is not so unsatisfactory as. the. figures might-imply. During tho corresponding six. inontus of-the previous year the expenditure exceoded the receipts by £172,404, so that on the actual revenue and expenditure for the half-year there is a slight improvement. The weakness of tho position lies in the factithat in 1903:09 tho year was commenced with a very sub-' stantial credit balanco which enabled.a transfer of £800,000 to the Public Works Fund. Also, it must be borne in'mind that last year was a bad one compared with its predecessors. Comparing,tho figures of tho past six months with those for the same period of 1908-9 the fallowing results'aro obtained:—.. ;. , ; ; '■'

1909-10 1903-09 • '': .'■ £ ' «£ ' * ' .£ ■ Revonuo ..... 3.865,382 3,829,640 35,742 inc. Expenditure... 3,990,323 4,002,101 .11,742 dec. For the half-year tho revenuo has increased by £35,742 and the .c?:penditure : has decreased by £11,781. Tho most unsatisfactory, feature about these figures.is the small reduction , in the expenditure in face of tho retrenchments put in handearly in the financial year. Of course many of those reductions did not immediately take effect and' the full saving i only now'being made,' but the saving so ; far made is'surprisifi'gTy:. isi 'especially the'easo when it is borne in mirid that tho expenditure for the September quarter of -, last year was'- exeep-: tionally ,heavy owing, ~'#,' was contended at; tho time, to the nearness, of tho oloc-' tions. . It. is impossible,' however,' to go into tho details-of the accounts until they 1 are published in full; suffice it to eay that the Government would appear to. have made somo efforts at economy.

There 'issonc aspect of ;th'o Prime Minister's, speech..which we foci certain'will cauee disappointment and: displeasure; So much has been said by Ministers and. {their papers' of : slanders and misr/ipresen-' tations affecting the credit of the country, that we had hoped that Sir Josepii.Ward would take .up Mn. ■ If assev's challenge to give the/names of these slandcrors' and bring'forward the proofs of their guilt. Sir Joseph, uowever, again .confined himself to'.generalities. He'certainly ; mentioned the name of one gentleman, but it .was 'an unfortunate reference,, for his own figures prove the truth of thei allegation made by the gentleman referred to. He,did name one paper, but.ho did riot adduce any evidence to support his statements. This reiteration of these general charges v/Uliout attempting to bring forward facts to support them was, the weakest, feature- of what, from a party' standpoint,-must be regarded as a ; good fighting speech. , >;•■.■'.. .V ,