THE LIBERAL PROGRAMME

Evening Star, Issue 17226, 16 December 1919, Page 11

THE LIBERAL PROGRAMME

[Published by Arrangement.]

A LAST WORD TO THE ELECTORS. IE" INDUSTRY, COMMERCE, AND FINANCE. Of course, Sir Joseph Ward and the Liberals recognise that the great and beneficent programme that they have placed before the country will cost a great deal of money to carry into effect. The Liberal Leader has v therefore devoted_ much care to the financial aspects of his "platform." He realises that Increased Production is an important factor in the problem, and he is prepared to assist in that direction by legislating on lines that will increase the workers' snare in the total sum of wealth produced, and, by meeting all Labor's reasonable in a sympathetic and conciliatory spirit, will encourage the wageearners to do their best for the country in their own interests, and will thus promote industrial peace. At the same time financial help Is to be extended to new and growing industries. Further, in order-to eecure -a certain supply of cnnl for the people, to keep down the price of fuel, and to prevent the constant industrial _ strife that has so often convulsed the industry and paralysed our commercial system," Sir Joseph' Ward proposes tn 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 private enterprise," and some of them predict its certain failure. But the "Masseyites have always said the same thing about "State interference," and they seem to forget that j at the present time one of the most influential and representative Royal Commissions of recent years at Home has strongly recommended the Nationalisation. °df British Coal Mines, with the concession of a considerable share of control to the workers themselves. No doubt "Reform," supremely confident of its own superior wisdom, believes that it can afford to ignore the Sankev Commission's rooort; but the Liberals * know that Sir Joseph Ward has good authority and ample precedent for the scheme that he now puts I forward. But the "Reformers" protest I most loudly against the New Liberal programme, on the ground that it is financially impossible. Among other things, they have said that the price paid to private owners by the State for coal mines and other natural resources or industries that may be nationalised would mean such heavy demands upon our national finance that we could not carrv on our public, works policy or find money to complete our roads and railways. " This is of course, quite absurdly 'inaccurate. When a city takes over a transport service—as when Auckland recent.lv took over it= tramway system—the municipality does not nave to pay "cash down," and stint UseJt oi all the other necessaries of municipal life, for a generation to come If .we nationalise the Coal Mines here. Sir Joseph Ward .proposes that thev shall be bought on debentures, and, as the industry is at least self-supporting, the trouble aoout finance can be met without interring in any way with our public works system or our plans for railway contraction.

As lor the sources of financial supply irorn which Sir Joseph Ward expect to make both ends meet, it should be noted that the establishment of a State Bank—-on-the Hues which have proved eminently successful and profitable in Australia—the nationalisation of Coal Mines and the envelopment of Hydro-electric enpr.cn- own up possibilities of economy, better" financial raeilities and a more" rapid development and utilisation of our vast natural resources on a scale undreamed oi bv th» ' 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 new programme is the proposal for the development of.HIDKO-KLKGTIUC POWFR b T utilising the splendid water supply "now' largely running waste in even- quarter of *,ew Zealand. Sir Joseph Ward <=.i<r. Rests that £6,000.000 should be expended in establishing the most important distributing centres within three or four y™?*- ' But T 't m "- a t be remembered that while Sir Joseph Ward was the first of our political leaders to" advocate this important national policy at- a time when tho idea was ridiculed by the Reformers as "extravagant" and '• visionarv,'' ] le 'h\\ always insisted that the process'of developing our Hydro-electric resources must L on by slow degrees. In the debate on Mr larrys report last year Sir Joseph spoke strongly against the proposals for wholesale arid reckless expenditure on these purposes to the extent of about £17,000,000 as advocated by nv.uiy "Reformers" at the time. however, in regard to this aspect ol the question, it cannot be denied that i he possibilities of this Hvt'>-o-""oioctri c scheme, which Sir Joseph Ward lias always steadily supported, are, in the words of an American expert who reported on our water supply _ls years ago, "bevond die scope of imagination," and we 'mav einer upon this project with th" certainty that we are dealing v.-iih a n enormous national asset, and not, as the i.etormers ' seem to think, a huge liability.

, H is of course, impossible for Sir Joseph \yi-rl to specify in dstail lone beiorel.and precisely the war in which he proposes to readjust the financial arrangements of the country so as to enable °us to liquidate our debts and to hear the new burdens that, the coming years mu<4. I Ming. But he has indicated' with sufficient clearness, the character and scope of Uie resources on which he intends to "raw. and his well-tried ability .as a financier, and the extraordinary' success .liat has marked his control of the conn--117 s finances, more especially durincr the Ja*t four years, should be a sufficient guarantee to the people that they will do wisely to entrust their financial business to mm for the immediate future. It : s rather remarkable that, while Mr Massey calls Sir Joseph Ward "irresponsible" and the Masseyiie Press call out 4i IS <' i '^ ! ', t:lstic " aml " rl "'nous" schemes, .the Reformers '' lamented his withdrawal from the Coalition as a grevions loss to themselves and the country. And it is still more remarkable that when Sir Joseph Ward took office the surplus he lound in the Treasury was a few score thousands, while when he retired he left an accumulated surplus cf over £15,000,000 behind him. These facts suggest a comparison between " Massevite°" and "Wardite" finance that is cunou=!y uinavorable to the "Reformers." Remember, also, that Sir Joseph Ward whom his enemies denounce as reckless and extravagant, was the first of our finance Ministers to establish a Sinking ■bund for the extinction of our' National iJebt; that his system has proved a great success; that he wished to see his preat accumulated surplus of £15,000.000 reserved as a Sinking Fund, but was prevented by Sir James Allen, who insists on using it for other purposes; and that the country through the bad financial judgment of the "Reform" Minister is thus not only reprived of the most effective means of extinguishing its heavy debt within a reasonable time, but is also deprived of an invaluable security—as a fcinkmg Fund of such dimensions would have been—to facilitate the flotation of future loans. With this evidence before them, the people can judge for themselves to which party cud which Finance Minister the charges of "recklessness," "extravagance," "improvidence," so freely employed by the Masseyites actually and truthfully apply. ' The well-known and indisputable facts of Sir Joseph Ward'* public career disprove effectively enough aH such frivolous and malicious allegations —just as his splendid record as a Liberal a patriot, and a Constructive Statesman wnh a reputation extending throughout the Empiro and the English-speakmi! world sufficiently refutes the false and preposterous accusation of sympathy for Anarchism or Bolshevism that his opponents have levelled against him. The people know that New Zealand was safe > and prosperous and happy in the hands of Liberalism before, and when they cast i ilisir votes for Msfe'lism at the poJJs'

thej' will trust themselves to it again with the certain and assured prospect of an even brighter, more prosperous, and more peaceful future.