LABOUR’S HANDLING OF FINANCE

Dominion, Volume 36, Issue 308, 23 September 1943, Page 8

LABOUR’S HANDLING OF FINANCE

Addresses By Mr. Nash And

Mr. Combs

“We have had a fairly good run in regard to finances. AA’e have reduced our overseas debt and have met practically all the war cost overseas.” said the Alinister of Finance. Air. Nash, when addressing, with Air. 11. E. Combs, Labour candidate for AVellington ’Suburbs, a largely-attended meeting at AA'oburn last night. 'Both speakers were -well received and answered numerous questions. A'otes of thanks and confidence were carried, there being some dissentients. "AVe have maintained living standards, given the 'farmer decent prices and increased factory production in spite of the manpower shortage. Our social security scheme stands as a beacon light to the world,” said Air. Nash. He felt confident the .public would return again tq office the government that had brought about those improved conditions. (Applause.) Air. Nash briefly reviewed the difficuL ties New Zealand faced during 1930-35 and the subsequent recovery up till the "raid" on New Zealand’s London funds in 1938 by the enemies of Labour. So serious had been the position that it had appeared the Government might not lw able to continue in office. However, the Government had decided to keep New Zealand’s name good. No goods were to be brought into the country that could not be paid for. That had been the origin of import control. Air. Nash said he did not accuse the National Government of causing the depression, but it had tackled it in an entirely wrong manner. It had curtailed and cut, and every curtailment and cut: had made matters worse. Now the National Party said it would never allow that to happen again. "But I do not think you should give them a chance,”' he added.

It was through the foresight of Air. Savage that a conference had been called in-1939, at which Britain, New Zealand, Australia, Fiji, and other British possessions in. the Pacific area had been represented, to discuss defence in the event of war with Japan. As a result of that conference New Zealand had pent a -brigade to Fiji to protect it against the possibility of being used as a base by the Japanese for invasion of this country. That had been about 14 months before the war started. There had been much talk about monetary control and debt-free money, said Air. Nash. He desired to make it clear that Government control of currency and credit had operated for some time in New Zealand and was still operating. Further, he had never yet discovered what was debt-free money. Opportunity Seized.

The statement had been made that the Labour Government was extremely lucky to take control of the Treasury benches in 1935 because the tide of prosperity had begun to sweep into New Zealand. said Mr. Combs. Perhaps it had. but the Labour Government .used it to such good effect that in 1939, when the war broke out, there were no unemployed on the New Zealand register. That same tide of prosperity eras also sweeping through Great Britain, yet when the war broke out there were 2,500.000 unemployed there. That same tide of prosperity also swept the United 'States, one of the wealthiest countries in the world, yet -there were 7,500,000 unemployed there at the outbreak of -war. Australia had 200.000. New Zealand had none, said Mr. Combs. AVhy? The internal administration of this country had been charged by the advent into office of Air. Savage and his splendid team. It was that seme splendid team, but • with a new leader caused by the sad loss of Mr. gavage,; which would, face up to the issues of re-‘ liabilitation and reconstruction. Mr. Combs gave an outline of the procedure in carrying out that rehabilitation and reconstruction. This would include the creation of progressive’ public works in the same way that public works had been revived after the slump. So much development would he called for that there would be work for all, and the soldiers would have ample opportunities .to live decent, useful and serviceable lives ni this rehabilitation nnd reconstruction of the country they had protected so well.

WELLINGTON WEST

Mr. C. M. Bowden (National), speaking- at the Regal Theatre, Karon, yesterday, pointed out that the National Party programme of housing provided for freehold being given for those desiring it, as well as rental houses for those wlio preferred that method. The Labour Government apparently did not believe in granting the freehold, possibly knowing that ownership brought a sense or responsibility. The candidate explained also the operation of the proposed system of insurance fund, for a trilling payment a week, if desired by the owner, whereby a sum of money sufficient to pay off the "amount of mortgage on the house would be available in the event of tne death of the owner. He stressed also the importance of the preventive'aspect of medical services in order to raise the general level of the health of the community. Dealing with the cost of livingMr. Bowden quoted the statistician s figures to show that what could be purchased (all groups combined) for £1 in 1935 would cost £l/3/S in 1939, and £l/6/6 in 1942, dearly disproving the statement of the Government that costs had not greatly advanced. In reply to a question, Mr. Bowden said he was in favour of the introduction of simple religious instruction iu schools, with freedom for any parent or teacher to refrain from participation. He explained also the policy of the National Party m regard to the licensing laws and the liquor trade, namely, for a Royal Commission to make inquiry, to report to the people, and legislative action to follow that a[u proval. Speaking at Kclburn last night, Airs. C. S. Stewart (Labour) said that after representing AVellington West tor the past five years she had no hesitation in again offering her services for a further term of office. At no time had she by word or deed been a party to any action that was contrary to the best interests of the greater number of people. The Government of which she was a member hud gone a long way toward their goal, and would, if given the opportunity, complete the task so well begun. The candidate assured her audience that, she had no illfeeling toward her.opponents in t he campaign), but was sorry that their political outlook was so distorted. The National ists were so lacking in vision that they resorted to half-truths and misrepresentation.

(Further election reports on next page.)

Mortgages on farms iu New Zealand had increased by 570 per cent, between 1900 and 1932 while production rose only 140 per cent., said Mr. E. A. Ellis (Democratic Labour. I’ahiiitua) speaking nt Danncvirke. Mortgages-on farms iu 1900 aggregated £20,000,000 and the total production was also £20,000,000. r J?hci respective figures in 1932 were £41.000.(4)9 ami £l3s,ooo.—“Dominion” Special Service.