ECHOES of the WEEK

Dominion, Volume 22, Issue 34, 3 November 1928, Page 17

ECHOES of the WEEK

PRESS OPINIONS ON NEW ZEALAND TOPICS

There can be few people who really suppose that, if the seventy millions which Sir Joseph Ward proposes to borrow could be secured from obliging financiers at Home, the effect would not be to increase the taxation that has to be paid by every individual in the country. The Leader, of the Opposition has been endeavouring to create political capital out of the fact that the Government has considered that it would not be sound finance to make advances under the cheap money scheme at rates that would involve' the State in a loss that would fall upon the general taxpayer, and it is certain that the general taxpayer would have to meet an interest bill upon the sixty minions which Sir Joseph Ward would borrow for advances to .settlers and workers. It could, not be otherwise. The Government cannot borrow money to be advanced at 4| per cent, with Provision for a 1 per cent sinking fund, without incurring a margin between the nrlce of the loan and the rate of . the advance that would have to be covered by the proceeds > of taxation. — Otago Dally Times.”

We have always maintained that the forestry requirements of the Dominion would be most effectively met by the establishment of °ne thoroughly-equip-ped central school. It is as well, how ever, to remember that, the original proposal was for one school, and in the first instance the Government gave an assurance that it intended to provide lorone only. But later, for reasons that politically are perhaps only too clear, this purpose was modified to the extent of affording assistance to a Southern School of Forestry located at Canterbury College. The other day the-Minister of Education cited the existence of the' two schools as a reason why the powers of the University should be curtailed, and it seems necessary to make it clear to our readers that this “uneconomical and unsound division of our forestry forces is entirely the Government’s fault. — Star, Auckland. .

All candidates are philanthropists at the hustings. A motto for them all might be, “By any reasonable plan, 111 make you happy if I can.” And that motto might be promulgated as a constant, not ; an occasional sentiment by an unusual number of Dunedin candidates of the Labour and other parties. The trouble Is that their plans for promoting happiness are so ‘often unreasonable. Good intentions can pave the way to Hell for others besides their makers, and the peaceful “revolution at the ballot box,”, for which Mr. Munro has breathed a prayer, might be in its effects the very antithesis of progress. If the object of the New Zealand Labour Party had to be gathered from its latest manifesto it might be supposed to be even less than such a constitutional revolution, but the programme can only be read in accordance with permanent aspirations, expressed from time to time and not yet repudiated, though for purposed of strategy they, are not emphasised in this official pronouncement.—" Star,” Dunedin.-'

The University, far from having more money than it needs, needs more money than it has, and that the excellent use it makes of its resources is the exact opposite ,of an argument for diminishing them or making them subject to year-to-year contradiction. Most of the University’s money is spent on scholarships. Money can scarcely be spent better. But scholarships are still few and still small in value. Thirty years ago they absorbed £6,000 a year—now they absorb £7,500, an increase much less than it ought to be and a total much less than it ought to be.— “Sun,” Christchurch.

Everything that members of the United Party are now saying, against it, if it is worth saying, was said in our columns before a single Liberal newspaper knew that it was an evil at all, or had the courage to join us in attacking it. But although this particular candidate probably does not know any better, those who are aware of the facts know that government by Order-ln-Council did not begin with Sir Francis Bell or the Reform Party, but with the Liberals; and was the discovery of Mr. Seddon himself. How long It Is since we first began to emphasise the danger of this practice it would take a little research to settle, but it was not less than twenty years ago, and it is a rather rich political joke to see the'Liberals to-day laying their hands on; their hearts and solemnly saying hojv eager they have been “for seventeen years’-' to save democracy from So "sinster” an Influence.— “Press,” Christchurch.

Cook’s name is known from end to end of the Dominion, and Scarcely a child at school would be quite disgraced under examination on his deeds and fame; but for all that he is a hero who has too little rather than too much honour; and whose fame spreads wide rather than grows deep. It is New Zealand’s way, so far, with its heroes. It is only now that a memorial to Edward Gibbon Wakefield is to be erected. No city has yet a worthy memorial to Captain James Cook. — “Sun,” Christchurch.

It is an interesting and encouragingfact that- Sir Joseph Ward’s plan to arrange for a loan of £70,000,000 has been applauded by nobody (except a few Liberal candidates who can scarcely be held to count). The more sensible of the Liberals are dismayed, the less sensible rather bewildered; the rest of the public is either amused or indignant. This, we say, is encouraging, for It is as strong a proof as one could desire that the time has gone by when a large loan could be an enticing bait for the electors. One may therefore feel glad that Sir Joseph has thought of trying the old lure, and there is another reason for welcoming his plan. This is, that it is fixing attention upon the danger of lavish borrowing and forcing a general discussion of that danger.— "Press.” Christchurch.

Labour’s new objective is not the socialisation of anything, but the laborisation of the Treasury benches. Office, Mr. Holland indicated, is the goal of the Labour Party movement at the piesent time Of course, this was-not said in so many words, .but the programme that was. outlined, as the one that would be put into operation if Labour succeeded at the polls, was a list of mild reforms that might have been advocated with almost equal sincerity by the Reform leader or the leader of the United Party. , Evidently it is the intention of the party to help the electors to forget that Socialism or Communism, or any other “ism” involving a disturbance of the social structure, had ever been advocated by anyone connected with the Labour Party. One might welcome the determination of the Labour group to come down to earth, and,to discuss practical and practicable reforms, if it were not for the fact that membership of the party involves a pledge to work for the socialisation of the means of production, distribution and exchange.— Lyttelton Times.”

Because New Zealand’s loans are held in high estimation, the United Party can confidently talk of 'enormously expanding the market for its securities. They ignore the risks of straining the country’s credit; they may even have undisclosed reservations regarding the possible necessity of tempering, their lavish demands; but have they given sufficient thought to the dangers of renercussions upon other financial operations? Next year, £24,000,000 of debt matures; the Government has been carefully preparing the way for itsiconversion, but whatever the state of the country’s credit, whether it is maintained or impaired by events in the interval, that debt must be renewed, no matter how onerous the terms. With that liability in prospect, New Zealand cannot safely venture upon wholesale financial experiments. —“New Zealand Herald.”

French settlers are said now to be petitioning their Government for a division of the New Hebrides archipelago between the two nations, ana a French publicist has been endorsing this proposal, the suggestion being that France should take the northern group, which she has done most to develop, and Britain the southern group. The Presbyterian Church of Australia, which has important missions in the islands, has been much concerned for an improvement of their system of government, but it did not welcome this suggestion when the matter was being discussed a few years ago. Partition, it was declared, would lead to endless strife. And it has been placed on record by the Australian Government that the only change of political status which it could favour would be control by Great Britain alone, or, if more acceptable to France, by Australia, or by Australia and New Zealand in conjunction. 1 France could be compensated for surrender of her rights by an exchange of territory elsewhere. But that exchange does not promise to be easy to arrange, and the probabilities are that we shall hear much more discussion of the condominium before any solution of the problem can find mutual approval.—“ Star,” Dunedin.,

It Is not generally realised how valuable to New Zealand is the extension of insurance business to other countries. The rising rate of fire loss in New Zealand probably has the result of reducing the actual underwriting profit in this country. It has long been a scandal to the country, and the position is getting worse. The insurance group furnishes the most striking New Zealand example of what is commonly known in English as “invisible exports,” which in England’s case more than cover the surplus of imported over exported goods. In our own case this income from business and investments abroad must be large enough to be noted by economists.—“ Star,” Auckland.

The United Party cannot claim to have originated the idea of pressing for lower taxation, and t case for relief will certainly not be assisted by the fallacious argument that customs taxation falls only on “poorer and moderate salaried people.” It includes such special taxation, as the duties on petrol am' tyres and all kinds of “luxury” taxes. In 1927,. over £1,000.000 was levied on motor vehicles, and £2,800,000 on alcohol and tobacco, while duties on foodstuffs amounted to £350,000, There are no doubt many opportunities for concessions in the customs duties that would be of widespread benefit, but it is misleading to suggest that the Reform Government has raised the cost of living by tariff increases. Such a statement is flatly contradicted by the facts of the 1921 and 1927 revisions.— “New Zealand Herald.”

When the New Zealand Alliance decided to attempt the capture of what the Labour candidates used to call the parliamentary machine, and transferred to the capture of parliamentary candidates the energies that used to be devoted to the organisation of the licensing poll campaign, it compelled the opponents of prohibition to follow suit, with the result that in many constituencies to-day the deciding factor is not the political colour of the candidates or their personal qualities; but their views on the single issue of licensing legislation. The Alliance made its move quietly and so was able to steal a march on its opponents, but this year both sides are obviously active. We hope that the electors will be alive to the danger of this issue and will refuse to subordinate their political interests to their views on the licensing issue. We hope, too, that they will insist on a plain declaration from every candidate of any and every pledge he may have given to national or local organisations. —“Lyttelton Times.’’