URGENT LEGISLATION

Evening Post, Volume CXI, Issue 142, 18 June 1931, Page 10

URGENT LEGISLATION

The Prime Minister's brief reference to the legislative programme for the coming session suggests that he is anxious to keep that programme as short; as possible. He mentions only essential financial measures, including provision for unemployment relief and the Transport Bill. The urgeiicy of the financial provision will be generally admitted; and there can be little question concerning the need for transport legislatitin. There haS been ample time for study of the problem and preparation of the legislation. Moreover, though New Zealand commenced consideration of this matter over two years ago, action has been so long deferred that Britain and South Africa have in the meantime brought legislation into opera-' tion. The experience of these coun-' tries should afford the Dominion valuable guidance. But what is most essential is that a beginning should be made. A perfect system of control will not be evolved if, control of any kind is put off session after session oil the plea that further inquiries are necessary or that Parliament has had no time to study the subject. If Parliament has not studied the subject yet, it never will.

Banking and currency legislation, which the Prime Minister proposes to postpone, is in a different category. The Treasury and the banks have probably given this project much thought, but there has befen no public discussion of moment because Sir Otto Niemeyef's report, which will be the focal point for discussion, has not yet been published. It is highly desirable that there should be a general understanding of the system arid any changes which may be proposed before legislation is considered. If it were possible to introduce changes, which would have an immediate beneficial effect oh exchange or public credit, greater haste might be excusable, but those who have even an elementary knowledge of the question know that such beneficial effects will be gradual. Our national credit' will be strengthened, not mainly by alterations of currency and banking law, but by so adjusting our finances that we are able to pay our way and command confidence. The general financial proposals which the Government will submit are, therefore, of greater importance than the special banking legislation which may be taken when affairs are more settled.