Grey River Argus. and Blackball News.

Grey River Argus, 15 November 1919, Page 2

Grey River Argus. and Blackball News.

SATURDAY, NOVEMBER 15, 1919. « BORROWING AND SPENDING.

Delivered every morning in Greyinoutli, Kiimara, Hokitika, Dobson, Wallsend, Taylorville, Cronaduu t Ngahere, Blackball, Nelsou Creek, Brimner, Te Kingha, Rotoinanu, Pperiia, Inchbonuie, Patara, Kuril, Kainiata, Kotuku; Moana, Aratika, Bnuanga, Dunollie, Cobdeu, Baxter's; Kokiri, Aliaura, Ikamatua, Stillwnter, Waiuta, aud Eeeftou.

IT IS a matter of mystery to many that the Liberal Party should profess great concern at the action of the Rtf formers in using what 'is termed the "accumulated surplus of" fifteen millions", to finance the soldiers' settlement policy. The fact of the matter is. of course, that there is no sucV thing as a surplus. It is only an affair of book-keeping. The Liberals in making out that such a surplus exists, as the outcome of the war finance, caro fully leave out the war expenditure. With that included, there can be no talk of a surplus, but a big defici*" Moreover, credit is claimed "because such a gum of money was sent to London during the war to be invested at interest. The- only credit there is in this connection must be attributed tin

those who provided the money, and they were Ijlie people generally every time. Where is the sense of talking surplus when the National Deb.t has been vastly extended? The revenue collected was not used to meet war expenditure, but hoarded, while loans .were raised for the money lenders. Our committments shown in the last Budget amount to over thirty millions regarding borrowed money.. Yet the Liberals profess to be alarmed at the expenditure of 60 millions proposed for this sear. Why did they not keep down, the obligations now having to be met? Half the amount voted is to meet debts on tlie war that cannot be side-stepped. The Liberals stand now for borrowing abroad and hoarding the "surplus" futrher, and yet here is what is in the Libeal Party manifesto on the subject: "Anything in the shape of a large borrowing policy by this country outside New Zealand for Government purposes would, in my opinion, be very costly, and for the next few years a sane policy of borrowing locally will be preferable and will help to maintain New Zealand in her position of a self reliant country.' 'The Reformers knew there was monye to be had and they simply took it. Suppose the positions were reversed — would the Liberals neglect to gobble up siich money? Not they, if their wholesale promises of a millenium are any indication !