FAT SURPLUSES.

Hawke's Bay Tribune, Volume II, Issue 45, 6 February 1912, Page 4

FAT SURPLUSES.

From all accounts Sir Joseph Ward is going to present the country this year with a record surplus. As a surplus builder Sir Joseph has easily beaten all previous records and shows that lie has still some claim to the use of Ins old title of "AViznrd of Finance.’’ It may be the last surplus he will present for some time to come, therefore it will doubtless give him some satisfaction to make it something to remember him by. It may also be the last big surplus any Minister will present in Nev.Zealand for some time. If Mr. Massey succeeds in forming a stable Government and gives Mr. J. Allen the Treasuryship, and that gentleman lives up to his expressed opinions upon financial methods, the big surplus has had its day. Mr. Allen does net believe in taxing with the one hand to present a surplus with the other, and we may take it that lie will attempt to regulate his taxat ion to balance expenditure. Commenting upon this phase of the question the "l.vtteltoii Times’ naively' says:

"During the twenty years the Liberal Government has transferred

more than eight millions from successive surpluses to the Public Works Fund, and to this extent has given a practical expression to the selfreliance which both political parties have been commanding.” Our contemporary is quite right, but it mieht have gone a little further and pointed out that to perform this great font the Government had to borrow thirty-eight millions. With economy we could have done without the eight million juggle and been so much less in debt.