Page 14 Advertisements Column 2

New Zealand Herald, Volume LX, Issue 18356, 23 March 1923, Page 14

(| Electors of Tauranga | as Hi " •' •; ; ; ■' S,, . .V- • V" " ' fu ;■ § II VOTE REFORM! | Bp . j I 1 The policy of Reform and the fulfilment of its § 1 Jf promises are manifested in Reduced Postage and | 1 1 Telegraphic Rates, Reduction in Taxation, prose- | I 1 cution of vigorous Roading and Railways Construe- | | | tion, development of Hydro-Electric Power. i i m - lass II Contrast these Statements j IS • - H ~ gxr I | Sir Joseph Ward, Bart. Rt. Hon. W. F. Massey, P.C. j H —•== • yr ==: : — . . £== I HI Question of Dissolution. " Why not form a Coalition Govern- lyj I fill Referring to an editorial in the Auckland ment, if Sir Joseph Ward gets in?" asked jj a Referring to an editorial in the Auckland ' , r ° , I m " Herald," asking where he stood in the a lady »° had frequently commented wth ■ 1 m matter, and offering certain criticism, he said b nsk shrewdness during the Prime Minister s g 1 is that he had received from Liberals in speech. g 1 ■ . Christchurch a message to the effect that t , lam not going to humiliate myself or g 1 B " Members of the old Liberal Party in by agreeing to unreasonable con- g J ™ Christchurch desired to express-,.wish that dit.o"s, declared Mr. Massey iJS d£ssed g I ■ Sir Joseph Ward would score a decisive Several private membe.-s hacl disciussed p 8 ■ victory in Tauranga. His disavowal of a the matter, and he had informed them that m I H desire for a dissolution, and some working ? S' y "6rc e d to a fusion there would be. no ■ = mm agreement between the two major parties holding back on his part. He was prepared, ~ —. agreement between the two major parties h&d told thciHj Ito beconiG 3t private ~ ~ i j „„;j c;_ he had told them, to become a pnvate 1 3 as ,° cf - an v ipw There were most member and take a seat on the back benches. m , ■ Joseph, was hia view. There were most " They came back to me," explained the ■ | , important public affairs that required the - prim / Minist!Br> „ and said thafc th(i condi . g a | J r " es n ..| /. the coun trv' if it tions submitted humiliating and posi- I I ■ r l ' be prevented by the ZTo criminal «».!» That is Jt,, W ■ i =5 the mem ers, bounden dutv Government were put out he would ask tho r- _ I 1 to try to prevent a'dissolution by exercising Governor-Genera, to grant him a dissolution. , | I Hi common sense. : ~ Jij | ji ' — Regarding penny postage, Mr. Massey s | m said the Government had reduced the rate ||g 1 H Penny Postage. to 1 id, and the next financial year would not jj 1 Us _ # _ be very old before the rate was reduced to m s gp| He said that if he were in office to-day jj jj en think there would be any |p| ! m he would put penny postage into operation difficulty in doing that. l! s §§g in this country within 24 hours, because he ______________________ Hi § lH considered it would be of general benefit and .... .... ■'S 1 m it would increase the postal revenue. With regard to Sir Joseph Ward's claim g g that the moratorium should have been re- « 1 g " 1 moved immediately after the war, where, he g i H ... . . . .. . • asked, would the money have been got for g If m The Wretched Moratorium. mortgages. ( The Government itself experi- §|| I S '' r " "From the financial point of view," enced the greatest difficulty in getting |g: 1 H! continued Sir Joseph, "we are suffering money to carry on, and dare not go to Eng- gj 1 § from that wretched moratorium being kept ' l anor money for a long time after the war. g I m on tho Statute Book. How many of us if the moratorium had been removed immedi- g M lit understand the effect of the moratorium." ately after the war, thousands of men would g yj gHI . have lost their properties. It was necessary m M allow time to elapse to enable the finan- HI M Hi . „ , ... Ml . ,L. a * cial position to adjust itself and to get back m I Ij State Bank Not Advisable. to normal when the best security was broad || m iH As regards a State bank, he had changed acres. That was not yet the position. g H sp his views. He had advocated it for many ..■ . ■ . . , gg M !H years, but in view of the difficulties ahead, t & Mm if we made any departure in the direction of ;As regards Sir Joseph Ward s proposal m M m ' setting up an independent State bank at to issue Government bonds for public works, ,-g m m present, it would bring a tremendous which seemed to have been put forward as g I m amount of trouble on the people. not representing further borrowing Mr. g = HHf Massey said it would be interesting to know M ■ what it should be : called. To his mind it =§ M ® ■ - • 1 . . r was the most objectionable system of bor- m g| lip Are we to stop making railways? No. rowing. Did Sir Joseph suggest that men J W SI • Are we to stop hydro-electric schemes? No. should be paid in bonds? He agreed that g % Hy I say finish the whole lot of them in five paper money was an evil, and should be done §§ M Hi years. (Loud applause.) How ( is it to be away with as soon as possible. The bonds g jg m done? Instead of borrowing money on the Sir Joseph proposed to issue could not retain m §§ g" London market, or on the New Zealand their face value for long. The holders would M S m market, let us issue New Zealand Govern- get rid of them to the banks at much below g HI !U merit stock.at five per cent. That stock is ' their face value, and every time it would fall "f| 1! 5 ' negotiable in this country and elsewhere, back on the taxpayer. It \ seemed to him p if g and it has the advantage that we do not jf there was ever a proposal to which the g M Mi 4 require to borrow large sums upon which we term << frenzied finance" could be applied, g must lose interest. What would my policy w^s this. (Applause.) 11 II mean? .. g M § I ———- Regarding Sir Joseph Ward's statement M M' g that the country could not go on borrowing g Hi H "I want people to think how ,we are at the rate of £68,000,000 in three years, Mr. g ss 1H to emerge from our troubles, which, if they Massey said it was absolute nonsense to g| Hit go on much longer, will put us next door to suggest the Government had had that =| HI HI ruin. The war is given as a reason for our amount. It had required about half that M §§ g|f . troubles in connection with the heavy bor- amount to clear up obligations arising out g HI Hi rowing we have been going in for. The year 0 f the war. Of the remainder, £9,000,000 p Wig before the war our whole indebtedness was wag required for soldier settlement and .|| If 0 £99,700,000. At the end of the financial year houses, and from the balance _ railway g = just concluded our indebtedness was engines, waggons, and other materials and .• n m MM £219,054,000, while in 1918 at the end of the machinery already mentioned had to be paid. g 8 H! ' war the whole indebtedness was £150,840,000. f or '' 1 1! We have thus increased our debt since the = II Hp war ended by £68,000,000." There were three alternatives facing the M H g ■* — country: First, the resignation of the Gov- n g m ernment; second, Mr. Wilford taking the || g H "If it should so happen that you are Treasury benches with the support of • g g Hp elected for Tauranga and in the next session Labour; third, 1 Mr. Holland taking the g jHf rt of Parliament Mr. Wilford moves a vote of benches with the support of Mr. Wilford. g H! 11 no-confidence in the Massey Government, In his opinion, if the Government could not g um pi how would you vote?" was a question put to ■■ carry on, no one else could, and if the Gov- s M Hi Sir Joseph Ward at Mornnsville. ernment's majority was reduced to one, he g H B Sir Joseph Ward, in his reply, said, " I would have to consult the Governor-General. . || US p am not trying to put Mr. Wilford's position In those circumstances he saw nothing for it §= H m out of joint. Mr. Wilford is Leader of the but a general election. He wished to avoid | PP up Liberal Party. He was elected to that posi- that and the consequent expenditure of g M IS tion. The question is not a fair one to put. about £80,000. If necessary, he would not . | Hi PS Whatever happens in Parliament will have shirk asking the Governor-General for a = p§ I|| my very careful consideration with a view dissolution. Those were the alternatives, g §§ S to doing what is best calculated to further and it was for the Tauranga electors to g pf;? B the interests of the country." assist or otherwise. g || SAFETY FIRST! j I 1 Electors of Tauranga, the issue I ~rr: m 1 ' ; m 1 1 before you is : — | Hi ' > = I 1 Performance v. Promise I 1 1 Statesmanlike Reconstruction v. Frenzied Finance ( I i Stable Government v. Chaos I 1 I I