The Gisborne Times PUBLISHED DAILY. MONDAY. SEPTEMBER. 20, 1930 BISHOP WILLIAMS’ WARNING.

Gisborne Times, Volume LXXI, Issue 11323, 29 September 1930, Page 4

The Gisborne Times PUBLISHED DAILY. MONDAY. SEPTEMBER. 20, 1930 BISHOP WILLIAMS’ WARNING.

lb is refreshing to note .that loaders in the various churches are displaying keen interest- in the economic problems of the day. Tn his opening address to the Waiapu Docesan Synod at Napier, Bishop Williams expressed the viewpoint that the root of the current financial and unemployment evils lies in the prevalent neglect of thrift, a mistaken view of what is called “the standard of living’’ and the gross abuse of the system of credit. ..Most people will, we feel, agree with him that both State and individual would be better prepared to face ,a time of slump if they were to make it a practice always to live within their means. It cannot, however, he rightly hold that unemployment could ho made preventive by the exercise of the means which he suggests. That a false standard of living has been created in the case of a large proportion of the people of most countries is not open to argument. Like Governments, far too many people are pre j pared to over-bank on the future and the upshot is that, when depression makes its appearance both find themselves in great difficulties. But, after all, it would, of course, be a poor world if the people were not imbued with a . reasonable amount of optimism! One great- trouble is that the lessons that emerge- during difficult periods are not handed down

to the rising generations. Jn the past, the average person lias proved much more keenly interested in, political matters than in economics, which science is, after , all, even more important. For this unfortunate condition of things, the blame must- he

spread amongst the leaders of thought generally ahd not, of course, simply on the shoulders of politicians, who, as a rule, are not over-gifted in respect of vision. To-day, the problems which confront the so-called advanced nations have, too, become so complex that conditions would not right themselves —for a long time at any rate—even if the whole of tho people, woro to follow advice similar to that . which Bishop Williams tenders. Let us suppose that..they were to forego all the things which he regards as unessential. , The immediate growth of .tho unemployment roll would, he enormous t seeing that such a, large section of. the people earn their livelihood from industries that are. not engaged, in the production of absolute necessaries! The persistence of depressed conditions must always (as in.the past); lead to a readjustment in the-standard of living with most drastic .effect, upon those who are deprived of employment and those who find that, they have over-reached themselves. Unemployment in widespread measure \ is* unhappily, . a stato of things which is ..(recurrent when the. products of any country cannot be freely purchased, in its accustomed markets. , At such a time, everything'in the country so affect-• ed proves to have become inflated-in value. It should be agreed that the. lessons of the past clearly indicate that, when prices unduly rise, it is -wise to prepare for a; heavy drop. Unquestionahiy,.'if there; is one thing more than another; which, requires to be remedied in all countries it is the gross, abuse of. the system of credit. Bishop VVilliams ha,s done jtoil. to stress this important point.; In this regard, ‘ the trading community certainly requires tc tates, wider meete ures to protect not .only its own membefsi but/.alsb that . large section of the .people which does hot abuse tho credit'A