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Hokitika Guardian, 10 April 1923, Page 2

Tit Kit k are some special conditions in regard to the paying oil of the debt to the United States. H is stated that the lliitish Government will have the right t<> pay off additional amounts upon 91) days’ notice additional, that is, to those fixed by the terms detailed above. It is conceivable that through some windfall during the next ten years, this provision might be very useful. There is also an option lor (lie first live years of paying only half the stipulated interest and adding the unpaid amount to the principal. This might be convenient at some time, but it is to la- Imped that it will not be necessary to take advantage of it. Perhaps a still more important clause is oil that which gives t lit- British Government power to effect payments in 1 nited States Government Bonds of a certain class. As such bonds at present can be obtained at a discount, tin’s would be satisfactory to us. though probably the discount would soon disappear when it became evident that Great- Britain was a potential buyer of n considerable amount. Taking a broad view of the matter, the terms which have been agreed upon for repayment, and which constitute a conditional settlement of the American debt problem, may be regarded as equitable Tmd in accepting them Britain has done a sound strobe of business, while an incidental effect lias been to improve its credit still fuither. as indicated by the quotation of sterling in America.

Foi.i.owino the lead given in this district last year, abd recognising the possibilities of the movement for the benefit of agricultural and pastoral pursuits the Government is organising a farmers’ a inter school at Ashburton next month. It is being organised on similar lines to those adopted here, and it is expected will be a great success. This suggests that the farmers of the \\est Coast should be alive to the value of the. winter school to be bold at Hokitika in June and should make arrangements well in advance to permit their attendance in strong force. The school syllabus is now being prepared, and the lecturers will include several agricultural instructors who ate sure to lie interesting and who will impart a fund of knowledge which will he of service to the settlers, whether in regard to land or stock. The school is ljoitig organised again by the Westland branch of the Canterbury Progress League. and as a consequence a good deal of help will be received from the other side of the ranges. Tt is not unlikely that some Canterbury farmers will come across for tile week the school will lain course and the exchange of personal ideas between farmers resident on both sides of the Alps will not he the least interesting and instructive part of the week’s doings.

Dk.u.ino in a recent speech with the question of Australian defence. Mr Bruce, the Prime Minister, said that it was one of paramount importance. It was useless to talk of wonder! id 1 topian schemes for bringing about individual happiness and comfort il they were not taking steps to ensure that they wore going to hold their country ami keep it for themselves. The future might contain some ultimate solution which would enable Them to take no thought of their individual national defence. The League of Nations might grow to such power that none of them need trouble about their own security: but they had not reached that point, and until they did it was due to them that they should provide for their national security. It was not the soldier who liked big armaments. It was the man who had been away, and who had seen the world who icalised what Australia's danger was. Australia’s national safety should be safeguarded so long as the necessity for safeguarding it remained. These words and this warning is just as applicable to New Zealand. The world is far removed yet from a zone of safety, despite the alleged end of the war. treaties, and the League of Nations. There i- the daily fear that Britain may be involved in war at. any time in Europe or Asia, or perhaps both, simultaneously. The Near East trouble is simmering, and ns Gallipoli is involved, even New Zealand. remote though we are, has direct issues'involved. So it is that the Dominion cannot afford to neglect, nor ignore an international state of affairs which may at any time draw us again into another c enolls conflict

with nil the penalties such a campaign would involve.