ECONOMY POLICY TELLING

Evening Star, Issue 18053, 22 August 1922, Page 7

ECONOMY POLICY TELLING

STATEMENT BY MR' MASSEY. A valedictory banquet to Mr Edward Neuman, M.P., followed by a public meeting, was hold at Fo.xton last evening. Among those present were tho Prime Minister, the Hon. W. Nosworthy, Sir Thomas'Mackenzie, and about twelve members of tho House. All tho speakers paid appreciative references to Mr Newman, and regretted tho loss to Parliament and the dominion occasioned by his retirement. The Prime Minister said he had recently had figures for the first four months’ operations of tho present financ.al year. During those months the, revenue wont down by £450,000 compared with tho corresponding four months of last year, but he had this consolation: that the expenditure wont down by £1,200,000 in the same period. Those were hard facts, and whatever might bo said to the contrary, tho effects of the policy of economy could now be plainly felt. Tho country would feel tho benefit shortly. Long before the end of the year had been readied the expenditure would be well within the income, and when that time came he would bo able to reduce taxation. In February the income tax would be collected, and the officers of the department, who knew their business, advised him that next year’s income, tax would bo two millions less than that of the previous year. They had faced a drop last year, ns well as a huge drop in Customs duties and in other departments. They had got through it, and he could tell them they were going to do all they could to get through it again. He could not tell them that the country was going to have a surplus, hut they would do everything possible to show the people of this country a /satisfactory balance-sheet at the end of March. He believed that the country was now well round tho corner in its recovery from tho depression which had afflicted it in common with every other country. The prices of our produce had improved very considerably. Wool was a lot hotter, and he predicted that the now season was going to open very well. Dairy produce had taken the place of wool ns our chief primary industry, and the returning prosperity of this country was largely due to the energy and hard work of the people on the dairy farms of the dominion. Thev deserved all they got, and lie wished them ail luck and happiness. Mr Massey concluded with a strong appeal to the electors to return at the coming election a stable Government representative of the loyal element in the community, as against tho extreme Socialistic and Bolshevik party. The meeting was very enthusiastic, and concluded with a hearty vote of thanks to tho Prime Minister, Mr I/inklator, tho new Reform candidate. was introduced hy the Prime Minister and cordially received.