The Star. MONDAY, MAY 29, 1922. THE COUNTRY'S FINANCIAL POSITION.

Hawera & Normanby Star, Volume XLI, Issue XLI, 29 May 1922, Page 4

The Star.

MONDAY, MAY 29, 1922. THE COUNTRY'S FINANCIAL POSITION.

Delivered every evening by 6 o'clock in Hawera, Manaia, Normanby, Okaiawa, Elthuui, Mangatoki, Kaponga, Awatuna- Opunake, Otakeho, Manutahi, ' Alton, Hurleyville, Patea, Waverley, Mokoia, "Whakamara. Ohangai, Mereinere, Fraser Road, and I Ararata. j

_ ft : The publication of the details of revenue and expenditure for the financial year which ended on March 31 enable comparison to be made with previous years. What strikes one most is the enormous growth of the figures during the last few years. The growing expenditure has made it imperative that more revenue snould be collected each year, but one is surprised to find that the expenditure for 1922 is more than three times what it was in 1910. Expenditure for the year ended March 31, 1910, was £8.990,922, and for the year ended March 31, 1922, £28,466,837. For the year ended March 31, 1919, expenditure was £18,673,599, so that the cost of running the country has grown enormously. The working railways, cost £2,168,189 in 1910, £3,415,695 in 1919, and £6.473,233 in the last financial year. The figures for the Post 'and Telegraph, Department are: —191U, £855,862; i 1919, £1,699,701; 1922, £2,448,687. Education costs have inereasedTas follows: —1910, £936,875 ; 19i9, £1,>37,036; 1922, £2,580,562. ! Interest, etc., on public debt has also j risen enormously, the figures being :■— '1910,. £2,397,462; 1919, £6,086,769; 1922, £8,442,277. It is plain to anyone j that these enormous increases have put i a severe strain upon the country's tax- ! payers, and the "time has come when there must be a cutting down of expenses or serious results must follow.

A reduction in costs of running the State departments must be effected because the taxpayer has ceased to be in the position to pay the heavy demands made upon him. The money simply is not there, and we are to-day feeling the results of the great drain which has been made upon the taxpayer and business is suffering severely from the inroads of the tax-gatherer, who has had to operate laws which are far from equitable and have taken much more, out of the country's industries than they can stand. We believe that the unemployment problem is one of the main evidences of the extremes to which" taxation has.been j carried, and until the rates of tax are reduced and incfdence of taxation is adjusted fairly there cannot be a full revival of trade and industry. The Government l&s effected some economic arid "ha§ arranged to save something like £3,000,000 i S| . .^pepdlLre during fte 'present j financial year. It ig g good beginning, but we doubt whether it will not be

necessary to go even'Wther and redua expenditure still further. Tlie proces: is very difficult, ahd is not one thai is likely to be pop Mar: amongi those whc seem to1 think that the * taxpayer i; I possessed of unlimited wealth anc exists.only to be bled white to provid< | the Government with ample funds tc pay higher and higher wages 'to it« employees, who are already splendidl. provided for. We are as keen as anybody that the country should pay its servants, well and give them, good conditions, but every reasonable person must realise that there are limits in the expenditure of taxpayers' money, arid that it is a very serious thing to continue in. times of depression the operation of laws which can only have one effects-draining industry of its resources and reducing the'employing power of trade. We hope that the Taxation Commission will bring down a satisfactory report and remove the many anomalies which are so seriously affecting business If; further retrenchment has fo be faced there is nothing for it but to see that it is carried out fairly and iustly. The Government has to be fair to the taxpayer as well as to 'its employees. That should not be forgotten..