Manawatu Daily Times TUESDAY, MARCH 4, 1924. ECONOMY AND MOTOR CARS.

Manawatu Times, Volume XLVIII, Issue 3573, 4 March 1924, Page 4

Manawatu Daily Times TUESDAY, MARCH 4, 1924. ECONOMY AND MOTOR CARS.

Sir Harold Beaucliamp’s endorsement of Mr Massey’s appeal for State and private economy should be of material assistance to the Prime Minister in bringing home to the public the gravity of the financial position. The politician always is a little shy of plain truths of this kind, and Mr Massey’s sturdy optimism makes it particularly difficult for him to present the less glowing side of the picture. Sir Harold is restrained by no qualms of this kind. Between December of this year and the end of 1930fi ho told his interviewer at Invercargill, the Dominion would have to find £82,000,000 for renewal of existing loans, and also a very considerable sum for public works. ‘‘lt is only natural,” he added, by way of comment, “that there should be a hardening tendency in the money market. This Is no time for extravagance, and everyone should be endeavouring to reduce his liabilities during these prosperous times.” But there can be no doubt that extravagance is rife throughout the whole community. Among the imports for the year is an item for £3,000,000 odd for motor cars, all of which have not been brought to the country for utility purposes. The “Dominion” evidently is a little alarm, ed lest the Prime Minister and Sir Harold Beauchamp between them should create unnecessary alarm concerning the financial position of the country. “There is a distinct tendency in high financial circles at the present time/’ it says, "to advise the practise of economy. iA few days ago the Prime Minister lent his voice to swell the chorus. The latest to contribute an opinion is Sir Harold Beauchamp, ex-chairman of directors of the Bank of New Zealand. To the man in the street these warnings may carry an ominous significance beyond what is intended. It is possible that they may be regarded as hinting at same known but unstated danger that lies ahead in the near future. It is just as well, perhaps, that this latter view should not be permitted to gain any widespread currency. The call for economy is not made because of any immediate indication , of financial stress, but rather is intended as a note of caution to the less thoughtful who, in times of prosperity arc insufficiently heedful of future possibilities.” Perhaps this explanation was necessary, but meanwhile there is no indication of economy being carried to excess either by the public or the Government.