A MATTER OF HISTORY.

Horowhenua Chronicle, 23 June 1923, Page 3

A MATTER OF HISTORY.

SIR JOSEPH-WARD ON LAND POLICY.

WELLINGTON, Last Night.

Sir Joseph Ward, in an interview on the question of Dominion finance, says he is amazed at Mr Massey, in his capacity as Minister of Finance, expecting the public to accept his explanation upon the material points that have been the subject of controversy between them since he (Sir Joseph), in a speech at Bluff declared that the Motherland had,since the war.decreased her budget by over £500,000,000, but the Government here, in the same period, had increased our borrowing by millions, and these .with the surpluses they had used and spent, amounted to over £100,000,000. ‘ These,” said Sir Joseph, “were matters of fact. That in his Mr Massey did not, and could not, deny. Anyone who reads the British and New Zealand Budgets since the war will find that I have neither exaggerated nor misrepresented the position in any way. The statement I made at Bluff was in essence and in fact absolutely true.” Sir Joseph Ward points out that Great Britain has paid a sum off her debt and reduced taxation. The increase in the debt was due to the operaions in Mesopotamia, and Palestine. Sir Joseph Ward refers to the baseful effect of company taxation on industry and deals with taxation and the necessity of reducing it. He says that when a member of the National Government he was opposed to the proposal to take the millions he had saved as a surplus to purchase land for soldiers. He warned the Government that it would create a land boom that would prove disastrous to the soldiers He also quotes speeches made in the House in September 30, 1919, as proof of his assertion. Sir Joseph Ward continues: Conic, my proposal to kcfjp £20,000,000 01. the surplus have been accomplished. I'nquestionably it could. My intention was to purchase all lands required tor soldiers by the Government stock, bearing 41 to 5 per cent interest, tax-paying stock, and ad the land required could have been acquired and it would have prevented a land boom. We could have got, advances against our £20,000,000 surplus, if we required it, until such time as the bar against borrowing was removed Ho^' er ’ policy of purchasing land foi cash had actually started on a large before I returned to New Zealand. On the last occasion, and as I be ‘ ie ', e< * would result disastrously, I called the Liberal Ministers together and told them that in ray opinion it would result in a land boom and financial difficulties and that I would not accept responsibility for it and, that the only course was for me to resign Every one of mv Liberal colleagues know that this was so, and whether I was right or wrong, I acted upon my judgment at the time. I took the course indicated. I cannot be accused by anyone of saying now: “I told you so,” after the policy to which I was opposed had been tried for nearly four years.