NOTES OF THE DAY.

Dominion, Volume 6, Issue 1618, 9 December 1912, Page 6

NOTES OF THE DAY.

Mil. Wi D, Hi Maodohald, member for t.ho Buy of Plenty, and also a niombor of tliu Maokkn/.ik Minititry, hail liuflii 1-iilliiiiK iionwwhat _ indiseniotly about tlio slackening in expenditure on public workii. In a country oowititiioiiey this no doubt in a very Kooil weapon (,« uro ugainflt a political opponent, but unfortunately for tlio ox-Minifltflr for Public Wut'ltn, it in in hiit ciuw a weapon of booiuorantf-liko propomiiticH. Mn. Maudonaij) known perfectly well the reamm for any iilitcltoning tlmt ban (liken place, .71 ih own Government and the (Joverimicnt which he limi mipportitd ever diiiou lie entered Parlianient urn reisponmble for the depleted utato of the J'ublio Works Fund. It in difficult to believe that iho member for the Day of Plenty talked at Motu qui to no recklessly n« tho .PrciiH Association report of his npecch would make him appear to have dono. To charge the MABBKY Oovevnniont with being afraid to rami) money in New Zealand at the presont time in to talk nonsense. Money in quite tight enough in the Dominion without the Government attempting to borrow locally, and by bo doing making it still more difficult for the private borrower to secure the accommodation he needs Mr. Macdonai.d must know thin, and he in getting on to very dangeroii? ground when ho attempts to mak'c capital against tho Government on that ncore. As a matter of fact, the Government has been forced by the depleted state of the Public Works Fund and the financial stringency prevailing throughout tho money markets of tho world to husband its resources. The Minister of Finance is about to visit England to arrange a public works loan and to make other financial arrangements; and in view of the•prosperous state of tho country and tho large increase of rovenue, ho will probably bo successful in his mission. But until he haa completed his financial arrangements, the Government is acting wisely in deciding to act with caution. .