THE LIBERAL PROGRAMME

Dominion, Volume 13, Issue 70, 16 December 1919, Page 4

THE LIBERAL PROGRAMME

A LAST WOBD TD THE ELECTORS (Published by Arrangement.) 11. industry, commerce, and Finance. Of course, Sir Joseph Ward and tbn Liberals rccogniso that tho great mid beneficent programme* that they have placed before tho country will cost a great deal of money to carry into effect. The Literal Leader has, therefore, devoted much cafe to tho financial aspects of his "platform." He realises that increased production is an important factor in tho problem, and ho is prepared to assist in that direction by legislating on lines that will increase the workers' share in tho total sum of wealth produced and, by meeting all Labour's reasonable demands in a sympathetic and conciliatory spirit, will encouraeo tho wage-earners to do their best for the country in thoLr own interests mid will thus promote industrial peace. At the same timo, finnnc : al help is to bo extended to new and growing industries, further, in order to secure a certain supply of coal for tho people, to keep down the price of fuel, and to prevent tho constant industrial strife that has so often convulsed the industry, and; paralysed our commercial system. Sir Joseph Ward proposes to nationalise the principal coal mines. This project has been fiercely, assailed by many leading "Reformers" largely on the ground that it is another" "interference with privnto enterprise," and some of them predict it? certain failure. But tho Masseyijcs have always snid the same thing about "State interference" and they seem to forget that at tho present timo one of the most influential and representative Royal Commissions of recent years at Home has strongly recommended the nationalisation of British coal mines with the concession -of a considerable eharo of control to the workers themselves. No doubt "Reform," supremely confident of its own srperior wisdom, believes that it can aflord to ignore the Sankev Commission's Report; but the Liberals know that Sir Josopli Ward has good authority and ample precedent for the scheme that ho now puts forward. But the "licfortnevs" protest most loudly agains.t the New Liberal programmo on the ground that it is financially impossible. Among other things, they have said that tho price paid to privato owners by tlio State for coal mines and other natural resources or industries that mny bo nationalised, would mean such heavy demands upon our national finaneo that we could not carry on our Public Works policy, or find money to oompleto our roads and railways. This is, of course, quite absurdly inaccurate. When a city takes over a transport service—as when Auckland recently took over its tramivay eys. tern—the municipality does not have to pay "cash down and stint itself of all the other necessaries of municipal life for a generation to come, if we nationalise tho coal mines here. Sir Joseph Ward proposes that they shall 'bo bought on debentures, (Hid, as tho industry is at least self-supporting, the trouble about finance can be met without interfering in any way with our Public Works system, or our plans for railway construction. ; As for the sources of financial supply from which Sir Joseph Ward expects to make both ends meet, it should bo noted that the establishment of a State Bank—on the lines -which have proved eminently successful and profitable in Australia—the nationalisation of coal mines and the development of hydroelectric energy open up possibilities of economy, better financial facilities, and a moro rapid dovelopnicnt and utilisation n) our vast natural resources on a stale undreamqd of by tho "Reformers," with their narrow outlook and their, limited conception of the marvellous potentialities of our country and its people. By far the most important of the constructive schemes included in the no;'- programme is tho proposal for the development of hydro-electric power by utilising the splendid water supply now largely running to waste in every quarter ot flew Zealand. Sir Joseph Ward suggests that .£6,000,000 should bo expended in establishing tho most important distributing centres within three or four years But it must-bo remembered that while Sir Joseph Ward was the first of our political lenders to advocate this important national policy at a time when the idea was ridiculed by the Reformers as "extravagant" and "visionary," he has always insisted that tho process of developing our hydro-electric resources must go on by slow degrees'. In tho debate on Mr. Parry's report last year, Sir Joseph spoke* strongly against tho proposals for wholesalo and reckless expenditure on these purposes to tlio extent of about .£l7,ooo,ooo—*is advocated by many "Reformers" at the time.

But, however, in regard to this aspect of tho question, it cannot be denied that tho possibilities of this hydro-elec-tric scheme, which Sir Joseph Ward hns always steadily supported, are, in the words of an American expert who reported on our water supply fifteen years ago, "beyond the scopo of'imagination," and wo may enter upon this project with tho certainty th'at we aro dealing with an enormous national asset, and not, as tho "Reformers" seem to think, a huge liability. It is, of course, impossible for Sir Joseph "Ward to specify in detail long beforehand precisely the way ins which ho proposes to readjust the financial arrangements of tho country so as to enable us to liquidate our debts and to bear tho new' burdens that the coming years must bring; But ho has indicated with sufficient clearness the character and scope of the resources on which ho intends to draw, and his well-tried Ability as a financier, nnd the extraordinary success that has marked his control of the country's finances, moro especially during the last four years, should bo a sufficient guaranteo to the people that they will do wisely to entrust their financial business to him for the immediate future. It is rather re* inarkable that, while Mr. Massey calls Sir Joseph Ward "irresponsible," and the Masjeyito Press calls out against his # fantastic" and "ruinous" schemes, tho Reformers" lamented his withdrawal from the Coalition'as a grievous loss to themselves and the country. And it is still more Tomarkable that when Sir Joseph Ward took office the surplus he found in the Treasury was a few score thousands, while when he retired he left an accumulated surplus of over J15,000,OM behind him. These facts suggest a comparison between "Masseyite" and "Wardite" finance that is curiously unfavourable to tho "Reformers." Remember, also, that Sir Joseph Ward, whom nis enemies denounce as reckless and extravagant, was tho first of our Finance Ministers to establish a sinking fund for the extinction of our National Debt; that lis system has proved a great success; that he wished to see his great accumulated surplus of £] 5,000,000 reserved as a Sinking fund, but was prevented by Sir James Allen, who insists on using- it for other purposes; and that tho country through tho bad financial judgment of the "Reform" Minister, is i-lms not only deprived of. tho most effective means of extinguishing its heavy debt within n reasonable time, but is also deprived of nn invaluable security—as a sinking fund of such dimensions would have been —to facilitate (he flotation of. future loans. With this evidence before, them, tin people can judee for themselves to which party nnd which Financo i.tini'ster the charges of "recklessness," "extravagance," "improvidence," so freely employed by the Massejites actually and truthfully apply/ The well-known and indisputable fuels-pf Sir Joseph Ward's public career disprove effectively mough all such frivolous and malicious allegations—just as his splendid Tecord as a L'bcral, a patriot, and a constructive statesman with rt reputation extending throughout the Enmire nnd the Englisli«Ti"alving world sufficiently ;pfutc* the false nnd preposterous accusation of'sympathy for Anarchism or Bolshevism that his opponents have levelled against him. The peonle know that New Zealand was safe and prosperous nnd happy in the hands of Liberalism before, and when they cast their voles for liberalism nt the £ills they will trust themselves to it again with the certain and assured prospect of an even brighter, more prosperous, nnd more peaceful future.