HIS OPENING SPEECH

Dominion, Volume 16, Issue 153, 16 March 1923, Page 7

HIS OPENING SPEECH

SIR JOSEPH WARD AT TAURANGA CONDEMNS STATE BANK SUGGESTS NEW METHOD OF FINANCING WORKS / - - BY TELEGRAPH—SPECIAL CORRESPONDENT. Tauranga, March 15. ’ “Why am I in tho field?” was the question put by Sir Joseph Ward at the outset of his initial speech here to-night as Liberal candidate for tho vacant Taurauega- scat in the House of Representatives. “Because you are wanted,” cried an elector. “I could not have given a better answer,” observed Sir Joseph Ward on the instant, as he went on to clear the ground for what proved to be a vigorous policy speech. Extraordinary interest was evinced in the former Liberal Prime Minister’s appearance in an emergency campaign. Hie assembly easily eclipsed any other political meeting in the history of the town, and difficulty was experienced in providing accommodation in the Town Ha'l for the eager crowd. Close on a thousand electors were present. Sir Joseph, who was acecompa-nicd by Lady Ward, was welcomed with a hurricane of cheers. He was introduced by the Mayor, Mr. B. Dive, a former opponent in tho House of Representatives. as the best PostmasterGeneral and Minister of Railways New Zealand had over had. The Mayor then presented to the candidate an emblem of luck—a big horse-shoe. Tribute to Deceased Member. The interest of the audience was immediately commanded by Sir Joseph Ward 1 and held closely to the end. Ho first of all expressed regret at the cause that had brought him to the electorate, paid a graceful tribute to the late Sir William Herries, and related with gratitude that on the occasion of his own defeat at Awarua the first message of regret had come from the former member for Tauranga. It was only right to explain that the Prime Minister had sent a similar message to him at that time. “I am here,” continued Sir Joseph, “because a representative gathering of electors from all parts of the electorate invited me to contest the seat. If I am wanted, all the better.” (Cheers.' Ho referred to whispered suggestions that he was a stranger, and related much of his service to New Zealand, and also to Tauranga during his long public career. It was being whispered. Sir Joseph continued, that he could not be as good a. farmers’ man as his opponent. While he had no intention whatever of criticising his opponent,_ he would at least take leave to mention his own extensive experience in association with the business of farmers and the rural industries for over 40 years. _ Reverting to the suggestions that he was a stranger to the district, he detailed what he had done for it> development, and incidentally mentioned .that he had turned the first sod of the Tauranga-Waihi 'railway. (Laugher.) It had taken the present Governmeni 12 years to make 12 miles. The Burden of Taxation. In regard to vital questions of policy, the candidate made pointed reference to the restrictive weight of taxation in New Zealand, the enormous increase in borrowing since the war. the costly system of railway construction, and the need of new methods of financing public worksTaxation in New Zealand, in comparison with taxation in Australia, was extraordinary, said Sir Joseph. The Dominion was the highest-taxed, country in the Empire, except Britain. Its taxation was £l9 0s 9d per head, while the highest in any Australian State was only £4 14s. 3d., and that was in Queensland. In Canada the rate was only £5 per head. Company taxation in New Zealand was of such a character that companies in order to pay a. dividend of 8 per cent, had to earn 20 per cent. They had to pay 7s. 2d. in tho £l, as compared with only 2s. Bd. in Victoria, including that State’s and the Commonwealth taxation. It was not surprising that at least two big companies lie knew of had been considering for six months the question of transferring their headquarters to Victoria. How was the country to emerge from the disastrous effect of taxation? ho asked. What was the good of talking rjiout taking threepence off tea and fwopence off something else? (Laughter.) Something very much greater than that was required. Taxation should at least be reduced to the Victorian level.

New Method of Finance, He was positive that ordinary means were not sufficient to cope with tho ■ country’s present requirements. Development could not be stopped. The making of roads and raihvays and the development of hydro-electricity had to go on. These things were necessary. The method of financing such works must be changed. Regarding this essential change in the method of financing public works, Sir Joseph Ward proffered the suggestion that Noxv Zealand should cease lioirowing in the London market except for the purposes of advances to settlers and to workers for their homes, and that a new departure for providing ways and means for the making of roads and railways should be instituted. The country, to begin with, should courageously face the completion of all the railways under construction definitely within the next few years. It should pay for them by the issue of Government five- per cent, bonds which were negotiable and were thoroughly realisable security. No greater liability would be incurred in paying for the completion of railsections in tho next few years. Tins' would bring enormous fresh territories into profitable cultivation and add materially to the value of the country’s exports. (Applause.) The same system could be applied equally well to hydro-electric schemes. There was no earthly reason whv contracts should not be made and paid fox- by New Zealand Government stock. Not in Favour* of State Bank. On the question of a State bank, Sir Joseph said it would ba disastrous to establish such an institution at present. It xvould bring in a tremendous lot of trouble to many people. He thought, however, that the Bank of Now Zealand ought to be extended to take the place of a State bank. After discussing other questions of policy, Sir Joseph announced that lio had received offers of assistance with his campaign from Messrs. Wilford. Veitch, and Masters, but he had decided to contest the seat by himself. (Applause.) He had never been afunkcr. and would certainly not funk in this campaign. His aim was to do all he could for the country, and he was confident that his experience was a guarantee that he would do everything

possible for tho district. He believed that if elected he could impress the House of Representatives as to the necessity for carrying out such a policy as he had. outlined. (Prolonged applause.) ' After replying to several questions, Sir Joseph was accorded a unanimous vote of thanks and confidence with acclamation and the singing of “He’s a Jollv Good Fellow.” Sir Joseph Ward will speak at le Puke on Frida)' night and at 1 c Aroha on Saturday evening. It is to be a hurricane campaign. PRIME MINISTER AT TE AROHA BY Telegraph.—Special Correspondent. Te Aroha, March 15. The Prime Minister (Right Hon W. F. Massey) arrived at To Aroha this evening, and met a large gathering of the Reform Committee in the Parish Hall, which was filled with an enthusiastic crowd of supporters. Many ladies were present. The meeting unanimously pledged itself to do everything possiblo to secure the return of Mr. C. C. MacMillan in the forthcoming contest for the Tauranga seat. At the conclusion of his address Mr. Massey was heartily cheered. Fifty-two polling places, for the Tauranga .electorate, are announced in last night’s Gazette.