Manawatu Evening Standard. CIRCULATION 4000 COPSES DAILY. THURSDAY, DECEMBER 26, 1912. THRIFT.

Manawatu Standard, Volume XLI, Issue 9375, 26 December 1912, Page 4

Manawatu Evening Standard. CIRCULATION 4000 COPSES DAILY. THURSDAY, DECEMBER 26, 1912. THRIFT.

A riiosj-Eitous Christmas season is hardly an ideal time to cliooso for a sermon on thrift, and Mr Harold Beauchamp must not lie disappointed if his little homily falls on unheeding ears. At Auckland on Saturday the chairman of directors of the. Bank of New Zealand was questioned by a pressman rr> yarding the financial condition of tho Dominion, ami it was in the course of his reply that ho uttered a warning note. It is satisfactory to note in passing that Mr Beauchamp, whose views on finance arc founded on wide and exact knowledge, takes a very optimistic view of the prospects of the money market. He points out that'tho tightness is felt mainly by the Government, public bodies and by those, who have speculated heavily in land. Mr Boaucliamp declares that under the "Ward Government public bodies wore largely encouraged to embark on schemes through facilities which were afforded to them by the Government in respect of loans of cheap money to these public bodies. Several of these bodies who have nuulo commitments arc now experiencing difficulty in getting money to carry out their engagements and they will have to rely on tho success of Hon. J as. Allen's mission to London for relief. Apart from these unfortunate institutions, however, tho position generally is much better than it had previously been during times of i money shortage. Mr lieaiichamp compares the situation to that of .1908 and points out that then the trouble was | caused by the .sudden drop in wooi. | To-day, however, wool is selling at approximately 6d per lb more; tlmn it was in 1908, which means that something like £4,000.000 more wealth is coming into the Dominion. Notwithstanding this "Mr Beauchamp points out that there is only a small margin between our exports and imports, and on this fact bo bases his homily on thrift, ft is really somewhat surprising to find that while our exports have been rising steadily in value there should be so small a margin to our credit—a margin hardly sufficient to pay interest on our national indebtedness. Mr Beauchamp has undoubtedly pointed to one serious weakness, the largo amount of private extravagance, and he declares it would greatly assist in restoring the financial balance if a little more thrift were, practised. One of tho indications noted by Mr lieaiichamp is tho "enormous number of people who aro to-day on the wing throughout, the: Dominion, paying visits to Australia and booking their passages by oversea, steamers." But the curtailment of such extravagances would hardly touch a sufficiently large number of people to be really effective. The trouble is that days of prosperity have taught almost, everyone in tho Dominion to be more prodigal than prudence would dictate, and the careless manner in which money

is handled generally augurs ill for the Dominion slioulcl loan years follow the present prosperous spell., Thrift is the last thing 'frhielt many paiontfi-sceiii desirous'.pT instilling f ren's 1 minds, forgetting .that!; the thwftIckj man' is as usolcsts to the community as the miser. Mr Beanchamp's appeal is opportune, but he. must not bo too optimistic as to its effect on the community at such a time of the year. It would he interesting to know just how much money lias been spent in luxuries (including sport) during the past few weeks by the too liberal inhabitants ol this favoured land.