PUBLISHED EVERY MORNING. Thirty-ninth Year of Publication ESTABLISHED 1875 Manawatu Daily Times MONDAY, JUNE 1, 1914.

Manawatu Times, Volume LXXVIII, Issue 12805, 1 June 1914, Page 4

PUBLISHED EVERY MORNING. Thirty-ninth Year of Publication ESTABLISHED 1875 Manawatu Daily Times MONDAY, JUNE 1, 1914.

IN a speech at Blenheim last week Sir Joseph Ward attacked the Ministry on several counts and to these Mr Massey replied in a speech at Invercargill. Sic Joseph's charge that the Ministry has borrowed in greater amount than his own party did was met by Mr Massey with the statement that money had to be borrowed to pay the debts incurred by the Massey Ministry's predecessors. In the main this reply is doubtless true, and it forms an effective retort. But it is noticeable that neither of these chief combatants has expressed any opinion adverse to the principle of borrowing, or referred to the desirability of extinguishing our public debt as soon as possible. If that were done some three millions a year would be set free for use in public works, or the general taxation could be reduced in proportion to the saving. It is greatly to be regretted that neither of these political leaders thinks this subject of sufficient importance to demand discussion, and that both seem rather inclined to extend the system of borrowing and so increase the handicap on the public.

THE reply made by Mr Massey to Sir Joseph's statement that the Ministry has increased taxation by 3s 4d per head was also

to the point, as the greater prosperity and renewed confidence have caused the people to spend more, and therefore increased imports have yielded more Customs revenue. Why Si' 1 Joseph made the statement Is not quite clear, as he must have known that there has been no in-

crease in the Customs duties. But once again both leaders display disinclination to touch the real question involved in our system of taxation through the Customs. Under present conditions these duties, at one and the same time, increase the cost of living and prevent the Treasury from benefiting. The only ones who benefit under the system are a few monopolists. It prevents the community from obtaining the full advantage of profits on our produce in the outside markets, because the money we receive for them loses a great amount of its purchasing power. It is futile to quibble about whether taxation has or has not increased when the principle on which that taxation is levied is absolutely wrong, impolitic, and unjust.

QUITE naturally, of course, Sir Joseph Ward is trying to convince the people that it is the classes, not the masses, who pay for the Dreadnought freak —that swift and sudden gift in regard to which public opinion was stifled till it was too late. But as this gift is paid for out of the Consolidated fund, to which every taxpayer necessarily contributes, it follows that the cost of the Dreadnought is borne by all the people.

IN regard to the alleged surplus, supposed to have been taken over by the Massey Ministry, Sir Joseph Ward complained that "The present Government for years and years had declared the Liberal surpluses to be bogus. The public statement giving the balances from 1896 to 1912 showed every surplus exactly as the Liberals gave it in their Budget." In reply to this Mr Massey said "The Leader of the Opposition was inaccurate when he said that Government succeeded to a surplus of £780,000. That surplus existed on March 31, 1912, but owing to interest and other payments, the amount had dwindled to £IBB,OOO when the Hon. "Jas. Allen took control of the Treasury.'' In this case both are right in one respect, and both are wrong. They are wrong because each assumes that there was an actual surplus, whereas, as a matter of fact, for the last thirty years there never has been a real surplus. That is to say, when the liabilities at March 31st in each year (which are not included in the usual statement of receipts and actual expenditure) have been pail there has been nothing left, and this is why each Treasurer who has alleged possession of a surplus had at the same time to ask Parliament to consent to the borrowing of more money. Had these surpluses possessed real existence there would have been no need to borrow, as the State would have had cash in hand. It would be more interesting to the people if the political leaders discussed other subjects instead of indulging in wrangling over figures which obviously do not represent the true facts in regard to finance. j

ONCE again the world is thrilled with horror by a terrible tragedy of the sea, in some of its aspects even more appalling than the doom of the Titanic. A great ocean liner—one of the triumphs of man in his attempted mastery of the ocean —has been sunk to the depths with almost the whole of its human freight. The horror of the disaster was heightened by its suddenness, and the fact that the victims were only roused from sleep to face death. One shudders to contemplate the amount of human agony that was compressed into a shockingly brief period of time, and one can imagine with pity the feelings of those who not only had to meet death themselves but were powerless to save their loved ones. One- may be sure that even in those fleeting moments many deeds of heroism were done. The disaster shows that in spite of •man's ingenuity and skill it is impossible to ensure absolute safety at sea, and there is indeed need for fervent prayers for the safety of "those who go down to the sea in ships." So fur as can be gathered from the tale of the tragedy those in charge of the I vessel cannot be blamed, and it comes under the heading of the quaint description of the mariners as "the act of God.' ; The Captain was evidently cautious in the dense fog, for the liner was hove to, and no doubt also the navigators took care to make ''the siren hoot its dread.'' But out of the darkness came the tramp steamer and shore through the floating palace, adding another thousand victims to the toll of the sea. This terrible occurrence is possibly felt by us more keenly because among the victims were some who were well known to New Zealanders, and to

their relatives as we'll as those of tlio other victims will be extended tlio rim.-* sim-ere and profound sympathy.