TIRED OF CORRECTIONS.

New Zealand Herald, Volume LX, Issue 18355, 22 March 1923, Page 8

TIRED OF CORRECTIONS.

PREMIER'S PLAIN SPEAKING.

WARD'S FINANCIAL PUZZLE.

MIS-STATEMENTS EXPLAINED [be TELEGRAPH.SPECIAL reporter.] , TE PUKE, "Wednesday. ! The Prime Minister had a splendid reception to-night at Te Puke, and the spontaneity and cordiality of the welcome rather shattered the very confident claim that the town was a Liberal stronghold. The robust cheers carried a very plain message of friendliness and an assurance of an undoubtedly large measure of electoral support for the Reform candidate at the poll. Mr. H. 0. Dooney, chairman of the Town Board, presided over a crowded attendance of electors, and introduced Mr. Massey a3 the head of one of the great political parties, whoso capacity as an administrator and as a man compelled respect, attention, and an impartial hearing. (Applause.) It was immediately clear, however, at the outset of Mr. Massey's vigorous address, generally along the lines of previous speeches, that the Opposition was also represented in the audience. When \ Mr. Massey referred to the possibility of the Government majority being reduced | to one, an elector fervently cried, "Hear, hear." (Laughter.) "Yes," replied Mr. Massey, "but it isn't down to that yet." (Applause.) Discussing Sir Joseph Ward s candidature, the Prime Minister said, "I think Sir Joseph Ward has made a mistake in coming out as a candidate for this electorate. lam not finding fault with him for doing it. That is his business. It is my business to keep him out. (Loud applause.) I am not going to make any predictions, bat I have a pretty good idea of what will happen. I believe that in the best interests of the country it would be a tremendous mistake to upset the Government and allow th<* Liberal Party to get on the Treasury benches, ruining one of the best countries God ever made. Now you know where I am." (Applause.) A Voice: You are in Te Puke, Bill. (Laughter.) Financial Administration. In referring to the Government's financial administration, the Prime Minister detailed the abnormal difficulties in recent years, and claimed that the Ministry had met its colossal tasks with strength and political courage. (Applause.) Conditions had changed very much for the better, and there was no justification for all the talk about the seriousness of the financial situation. He was more than tired of hearing the Jeremiah tale of lamentation. The Dominion's finances were sound, and increasingly so," but he was not going to put up with an era of wilful and wasteful extravagance. Essential development would bo promoted and hastened, and the money would be available. Speaking of advances to settlers, the Prime Minister diverged from his main argument for a few moments to pursue the apparent political mis-statements by the Liberal candidate. "Is it a fact," asked Mr. Massey, "that you were told the other night in this hall that it was now necessary to pay 8 per cent, on loans from the Advances to Sottlers Department?" "Yes, chorused many voices. "I am sorry that one who ought to know better should make such a statement as that," replied Mr. Massey. "There is no such thing as paying 8 per cent, for money. Here is the actual -position, and let anyone dare contradict it! There are three different' methods by which advances to settlers are made, and the terms allowed for repayment are these : The first term is 36£ years', the second 30 years, and the third 20 years. The rat© of interest in all.these cases is 5 per cent., with ; a rebate of one-half per cent, for prompt repayment. The 361 years' term carries : a sinking fund of 1 per cent.; the 30 years' term, £1 9s 4d; and the 20 years' term, a sinking fund of £2 19s 4d. The determination of the term for which money is advanced rests with the Advances Board. I regret the necessity for making these corrections. They are absolutely painful." " Heaven Only Knows." Attention was next given by Mr. Massey to Sir Joseph Ward's proposal to issue Government bonds at 5 per cent, for payment of contractors in railway construction and public works. "Heaven only knows," said the Prime Minister, "what people in London would say if we were to stoop to such a method as that for the furpose of paying for railway construction. fc simply. means the issue of promissory notes. Make no mistake about that. It isn't sound finance. Tho proposed bonds would not sell at their face value, and the loss would fall on the taxpayers." (Applause.) There was a lively interlude for a moment when the Papamoa schoolmaster asserted that the Prime Minister's figures representing the average increases to teachers were misleading. Mr. Massey offered to forfeit £50 to any local charity if the figures were proved inaccurate. (Applause.) / Mr. Massey concluded with a strong appeal for the return of Mr. C. E. Macmillan, the Reform candidate, and drew a hurricane of cheers. Many questions followed. One was as to the possibility of a coalition between Mr. Massey and Sir Joseph Ward. The Prime Minister replied that there was no sign of it. (Laughter.) He had held out the olive branch to the Opposition, excepting the Labour Party, and it was flung back in the Government's face. On the motion of Mr. H. J. Gill, seconded by Mr. S. Mitchell, a hearty vote of thanks and confidence was carried with sustained cheer's. Only a few men weakly dissented.