DEAR UNCLE.

Hawke's Bay Tribune, Volume I, Issue 288, 25 November 1911, Page 4

DEAR UNCLE.

Many years ago tbcri- was an energetic little man elected to Parliament who rejoiced in the name of “life Hem’’ Smith. Mr. Smith re presented Taranaki. He was not a handsome man. nor was in highly cdiii-ateil. but most people knew him to be holiest, earnest of purpose and poss-.<»::s<‘d of a let of “hors-? i.rnsc. ’ One of the stock jokes against Mr Smith was his frequently i .-’-mu-rated statement that ‘'Hi.*' G'ivr-rnmcnt taken my hadvice they would 'ave borrowed twenty I million." long ago ami developed thcountry.” This opinion was ridiettl- < d from one end of the colony' to the other and Mr. Smith was looked upon as a g<u d natured, harmless lunatic who prraeln d an impossible diet: in? which mi sane politic tl party wcuhl dream of. As such a person Mr. Smith w.as. tolerated ami held in considerable regard Ly the T.-tranaki people until death rcni->v- ( d him lieu: 'die sphere of liis poli1 t leal activities. It is not the intenj !■'.:> of this article, however, to give ■. hi <graphii-:tl sketch of Mr Smi-b With apologies to the ni< mory of a genuine little Libi-uil we wish to us? li:s iiist-uii- saying to point a reference to the fmani-ial methods cf Messrs J. (I. Ward and Co. Fifteen -<,t sixti c:i years ago when Mr Smith I talked of his ten or twenty million loan the people, as we say. looked upon him as a harmless politic.-tl lunatic. No one in power could possibly think of placing th'n burdmi i.f debt upon a young roun-ti-y- that. is. no mn- with political standing. Mr. -Smith did not count. Even the political chief of the amj bit ions Taranaki member smiled I I olei am-e. Mr. Si'ld in liked Mr. : .Simlli. bin In- i'ailcd to take in the | full sweep of the little man’s finan- ! <-;al vision. But wiiat has happened since the crude New Plymouth | Llai'k-uiith first aired liis financial | pr> ".oh-Js ’ In thirteen years Air. j S'i borrowed Cio.in"i.oco. ami I in lilt- rtw years following the d-sith i (,f this distinguished Liberal leader, i liis sm-cessor. Sir Joseph Ward, lias put eiahteen and a half millions oi: 'to the public debt. Theref ire ''Hee I Hem’s’’ proposal to borrow twenty millions has materialised into some I thing like £'4 l.auo.ofKi and who ran >ay tl at the country is even nov, lie-. ; h |i( d. Sir Ji.seph i Ward ain-mg tiiosc wb.o turned 'a deaf but riot unfriendly ear to the

T‘i.r;i:i;ilm m:<ii’:- ph a for a visit Io Dear I neb-. l’i:ir-< <l. there wa->

time when Sir Joseph W’ard expres—cd the i’]nnu,’.i that borrowing was not iirct ':-ary. Il does not seem credible, we admit, but a budget delivered by the Premier ctice contained th'* inf ninalii.U) ihai ilm <L v< fitment had come to the con-chi-ion that birrowing v .- as lll)t

n< ' < ssary. Tin* passing years Lave told their tale of change. The Liberal < lev ernmeni which <.tinned rs career of unselfishness in this country vv itli a sound rdf-re limit policy has pih'd up tiie national debt h> eighty one millions and followed a eourse <>f financial intemperance “wild and woolly” enough to make even the little Taranaki plunger turn in his grave. Judging from the Premier’s utterances we may also take it that he lias not finisheel with the game yet. for while electioneering in Air Massey’s electorate lie told a deputation that Government would continue to borrow monev and would not be deterred by opponents. It is a comforting assurance for Dear Uncle in London bid it does not hold out a very bright prospect tor posterity. The generations who come after Sir Joseph W’ard has mingled with tee historic dust of AVesteminstcr Abbey will have a tidy sized millstone around their necks and if it should so happen that a period < f depression came to New Zealand the people would have a painful

struggle to keep Dear Uncle sunplied with his pound cf flesh.. V'. e are expected now to squeeze camfert from the statement th':' ail loans will be paid off by s'nk, ig fund in seventy five years. But it is a sure thing that if Sir Joseph ■•?- mains in c-fl'ice for a further norm ! and is followed by other Premiers of a like financial kidney we shad have borrowed the sinking as w’B ?:■ the principal by the time liquidation is due. Putting off the payment fm- seventy five years eases th present day conscience and suits Uncle, but posterity will hold no great love lor Ward finance.