GOVERNMENT CRITICS

Evening Star, Issue 22192, 21 November 1935, Page 10

GOVERNMENT CRITICS

STILL ON PUBLIC ACCOUNTS [Per United Press Association.] WELLINGTON, November 21. Replying to Ministerial criticisms of his references to the public accounts, Mr Hislop stated that all three Ministers who had attempted to rush into the breach quoted the report which came from the committee of Parliamentary members known as the ‘ Public Accounts Committee in 1933. That the Auditor-General was not satisfied with affairs generally, and the ideas of the committee, was shown by the fact that he addressed several memoranda to the committee in the following year, and drew the attention of Parliament to his action: “In the hope that consideration may be given to the anomalies which appear to exist.’’ -The committee’s report was issued in 1933, and it stated- inter alia that “ we are of opinion that the public accounts represent the true and correct position of the financial administration of the Dominion.” Only one year later the Native Inquiry Commission revealed irregularities that had been taking place for some years. What reliance could people place on the opinion of the Public Accounts Committee, whjch, probably, in reality, had not the faintest idea of what actually was going on, as would apply to other matters which were raised in the reports of the Audi-tor-General, and to which he had referred. The whole of the public accounts needed immediate investigation, and in the public interest it should be put in the hands of a and competent administration. INTELLIGENT USE OF CREDIT [Per United Press Association.] , HAMILTON, November 21. Speaking at Hamilton last night, Mr Savage met with an enthusiastic hearing from a packed audience. He said it was the intention of the Labour Patry to control the currency and to make intelligent use of the public credit of the country. It did not want to destroy the savings of the people; it wanted to protect those savings. There were £50,000,000 invested in the Post Office Savings Bank, but if there was a run on the bank it would only be able to pay 2s 6d in the £. The bank, however, was thoroughly solvent. As things were one pound drawn out was only worth 16s Id, compared with the par value of the pound. If that 3s lid were multiplied by 60 millions it would he seen how much the depreciation equalled. Dealing with guaranteed prices, Mr Savage said Labour would have a revaluation of all securities in New Zealand. Butter-fat prices would be based on the average- of payments for the last eight or 10 years. If it panned out at a shilling the party would begin at that. Mortgages would ho adjusted on the same basis, and the party would see that there would be no foreclosures during the process •of revaluation. If a man could not jnake a out of farming under normal conditions he was at the wrong job.